The Examination of Effectiveness of Enterprise Risk Management Based on the Perspective of Value of Company
Read
DownLoad |
| Title | The Examination of Effectiveness of Enterprise Risk Management Based on the Perspective of Value of Company
|
| Author | Wang Wen and Wang Dong |
| Organization | University of International Business and Economics |
| Email | wangw6966@vip.sina.com, wd2007fsh@gmail.com |
| Key Words | Value of Company; Effectiveness of Risk Management; Risk Management Strategy; Risk Management Coverage |
| Abstract | This report uses the data from 2005 to 2010 of China's financial listed companies, and has an empirical study of the effectiveness of enterprise risk management. The results showed that：enterprise risk management had a significant positive impact on the value of company; the higher the degree of enterprise risk management, the greater the value of the company; the proactive risk management strategy could enhance the more value of the company than the passive risk management strategies; risk management coverage impact on the value of the company was very significant. Meanwhile, the study also finds the conclusions inconsistent with overseas academics：the structural financial instruments and the social responsibility of companies had little impact on the value of domestic financial enterprises, which could be influenced by the development of domestic financial markets and the degree of recognition of the impact of social responsibility, but also be influenced by differences in the external environment. |
| Serial Number | WP165 |
| Time | 2012-02-14 |
|