مقاله انگلیسی رایگان در مورد بررسی ارتباط غیرمستقیم بین مدیریت ریسک شرکت و عملکرد مالی SMEs – اسپرینگر ۲۰۲۳

مقاله انگلیسی رایگان در مورد بررسی ارتباط غیرمستقیم بین مدیریت ریسک شرکت و عملکرد مالی SMEs – اسپرینگر ۲۰۲۳

 

مشخصات مقاله
ترجمه عنوان مقاله بررسی ارتباط غیرمستقیم بین مدیریت ریسک شرکت و عملکرد مالی شرکت های کوچک و متوسط (SMEs)
عنوان انگلیسی مقاله Exploring the indirect links between enterprise riskmanagement and the fnancial performance of SMEs
نشریه اسپرینگر
سال انتشار ۲۰۲۳
تعداد صفحات مقاله انگلیسی  ۲۷ صفحه
هزینه دانلود مقاله انگلیسی رایگان میباشد.
نوع نگارش مقاله
مقاله پژوهشی (Research article)
مقاله بیس این مقاله بیس میباشد
نمایه (index) JCR – Master Journal List – Scopus
نوع مقاله ISI
فرمت مقاله انگلیسی  PDF
ایمپکت فاکتور(IF)
۳٫۴۰۰ در سال ۲۰۲۰
شاخص H_index ۱۹ در سال ۲۰۲۲
شاخص SJR ۰٫۴۳۳ در سال ۲۰۲۰
شناسه ISSN ۱۷۴۳-۴۶۳۷
شاخص Quartile (چارک) Q2 در سال ۲۰۲۰
فرضیه دارد
مدل مفهومی دارد
پرسشنامه ندارد
متغیر دارد
رفرنس دارد
رشته های مرتبط مدیریت
گرایش های مرتبط مدیریت کسب و کار – مدیریت استراتژیک – مهندسی مالی و ریسک – مدیریت عملکرد – مدیریت مالی
نوع ارائه مقاله
ژورنال
مجله / کنفرانس مدیریت ریسک – Risk Management
دانشگاه Department of Strategy, Faculty of Business Administration, Prague University of Economics and Business, Prague, Czech Republic
کلمات کلیدی مدیریت ریسک سازمانی – SMEs – مدلسازی معادلات ساختاری – فرهنگ سازمانی – عملکرد مدیریت ریسک استراتژیک
کلمات کلیدی انگلیسی Enterprise risk management – SMEs – Structural equation modeling – Organizational culture – Strategic risk management performance
شناسه دیجیتال – doi
https://doi.org/10.1057/s41283-022-00107-9
لینک سایت مرجع
https://link.springer.com/article/10.1057/s41283-022-00107-9
کد محصول e17323
وضعیت ترجمه مقاله  ترجمه آماده این مقاله موجود نمیباشد. میتوانید از طریق دکمه پایین سفارش دهید.
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فهرست مطالب مقاله:
Abstract
Introduction
Theoretical foundation
Organizational culture
Strategic risk management performance
Materials and methods
Results
Discussion
Conclusion and implications
Data availability
References

 

بخشی از متن مقاله:

Abstract

     This paper responds to the lack of empirical evidence on how enterprise risk management (ERM) and the financial performance of small and medium-sized enterprises (SMEs) are related. Structural equation modeling is used to explore new mediators in the relationship between ERM and SME financial performance. The results show that organizational culture (mission dimension) and strategic risk management performance are full and positive mediators between ERM and financial performance. These research results highlight the fact that the implementation of ERM in an enterprise does not by itself generate the expected effects without the existence of a mature organizational culture and the monitoring of strategic risk management performance. These findings are particularly relevant for SMEs with “pretend ERM” that lacks the strategic and operational components. ERM also helps to transform the negative effect of foreign capital in SME equity on financial performance into a positive effect.

Introduction

     Increasing levels of uncertainty call for proactive risk management in all organizations. The parallel crises triggered by the COVID-19 pandemic (Chakraborty and Maity 2020) and the military conflict in Ukraine have impacted most industries and businesses, unlike the Great Recession of the late 2000s, which primarily affected the financial sector (Gertler and Gilchrist 2018). Systematic risk has long been underestimated in advanced economies (Pagach and Wieczorek-Kosmala 2020). In such a situation, an intuitive assessment of risk outcomes, as often performed by smaller enterprises, is not enough (Grondys et al. 2021). Companies face new challenges and find it harder to maintain their profitability and competitiveness. Therefore, holistic enterprise risk management (ERM) is becoming increasingly important in small and medium-sized enterprises (SMEs).

     Nonfinancial SMEs are mostly unregulated. Thus, there is little pressure to implement a comprehensive risk management system. Nevertheless, in recent years, SMEs have started implementing formal risk management processes to increase their competitiveness (Wirahadi and Pasaribu 2022). ERM improves the quality of the information about enterprise risk profiles. The adoption of ERM reduces systematic risk. The purpose of ERM is to reduce the probability of losses and, therefore, reduce the need to borrow external resources, which positively impacts the expected cost of capital (Berry-Stölzle and Xu 2018).

Conclusion and implications

     Regarding the theoretical implications, this study reveals new mediators between ERM and the subjective financial performance of SMEs. The PLS-SEM method is suitable for analyzing complex relationships and testing causal relationships. Exploring indirect pathways can reveal consequential effects and help managers and owners understand various relationships. Complicated ERM indices (e.g., Gordon et al. 2009) are not suitable for the nonfinancial sector because the input variables for calculating such indices are difficult or impossible to obtain. The model works with the direct and indirect effects of ERM implementation. The indirect effects show the crucial role of organizational culture (mission dimension) and evaluations of strategic risk management performance in the relationship between ERM and the subjective financial performance of SMEs.

     From the management perspective, it is essential to establish functional and integrated processes for ERM implementation. ERM must be integrated with the organizational culture and the performance monitoring systems in the SME. Managers and owners should emphasize the functional implementation of ERM, not just a pretend ERM (Syrová and Špička 2022a) that lacks all the elements of an ERM approach. The ERM system must not be a “facade without the substance” that does not contribute to better planning and decision-making processes (Dvorski Lacković et al. 2022).

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