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Enterprise risk management in China: the impacts on organisational performance

机译:中国企业风险管理:对组织绩效的影响

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>This paper examines the impacts of enterprise risk management (ERM) on organisational performance in China. By using data gathered from the manufacturing sector, the paper examines the valuation of ERM through its effects on firm cost and efficiency. The empirical evidence shows that ERM can benefit larger size firms with lesser earning variability and higher returns on equity. With fewer insiders, ERM firms can take more systematic risks and gain more benefits from international diversification. The results suggest significant value premiums attached to effective ERM through mitigating firm cost and enhancing firm efficiency. The results also suggest that the strong valuation effects of ERM are associated with cost management, inventory management, asset management and cash flow management.
机译:>本文探讨了企业风险管理(ERM)对中国组织绩效的影响。 通过使用从制造业收集的数据,本文通过其对企业成本和效率的影响来检查ERM的估值。 经验证据表明,ERM可以使更大规模的公司受益于较低的盈利变异性和股权回报。 凭借较少的内部人士,ERM公司可以采取更系统的风险,并获得国际多样化的更多好处。 结果表明,通过减轻公司的成本和提高稳健效率,提出了有效的ERM的重要价值保险。 结果还表明,ERM的强估值效应与成本管理,库存管理,资产管理和现金流管理有关。

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