The Effect of Enterprise Risk Management (ERM) on Firm’s Performance: The Role of Corporate Social Responsibility (CSR)

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Pourentezari Zarach, Ali | 2021

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Type of Document: M.Sc. Thesis
Language: Farsi
Document No: 54377 (44)
University: Sharif University of Technology
Department: Management and Economics
Advisor(s): Khalili Nasr, Arash
Abstract:
Organizations now take several risks and many factors affect their anticipated performance. The origins of these risk could be external such as Interest rate, political and social changes and change in governing laws and regulations or could be internal such as operational risk, information risks and strategic risks. Enterprise risk management (ERM) as a holistic approach to risk management has been recently used by most organizations. Prior researches on ERM efficiency have inconsistent results and there is a need for more meticulous scrutiny. In this research we examine the role of corporate social responsibility (CSR) as a mediator in the relation between ERM implementation and firm’s performance. We also check for different parts of ERM to find out which parts could generate value for firms. The results of this research confirm the mediation role of CSR in the relation between ERM implementation and firm’s performance and announce Risk Assessment as a value adding activity in ERM. We also found that Monitoring in ERM has a negative effect on firm’s performance
Keywords:
Sustainability Reporting ; Corporate Social Responsibility ; Risk Management ; Strategic Risk Management ; Holistic Risk Management ; Enterprise Risk Management (ERM)