Social and Behavioral Sciences Commons^™

Enterprise Risk Management: Review, Critique, And Research Directions, Philip Bromily, Michael Mcshane, Anil Nair, Elzotbek Rustambekov

Finance Faculty Publications

Many regulators, rating agencies, executives and academics have advocated a new approach to risk management: Enterprise Risk Management (ERM). ERM proposes the integrated management of all the risks an organization faces, which inherently requires alignment of risk management with corporate governance and strategy. Academic research on ERM is still in its infancy, with articles largely in accounting and finance journals but rarely in management journals. We argue that ERM offers an important new research domain for management scholars. A critical review of ERM research allows us to identify limitations and gaps that management scholars are best equipped to address. This …