[雙語翻譯]企業風險管理外文翻譯--馬來西亞公司的企業風險管理實踐（英文）

1、 Procedia - Social and Behavioral Sciences 164 ( 2014 ) 332 – 337 Available online at www.sciencedirect.com1877-0428 © 2014 The Authors. Published by Elsevier Ltd. This is an open access article under the CC

2、BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/3.0/). Peer-review under responsibility of the School of Accountancy, College of Business, Universiti Utara Malaysia. doi: 10.1016/j.sbspro.2014.11.084 Sci

3、enceDirectInternational Conference on Accounting Studies 2014, ICAS 2014, 18-19 August 2014, Kuala Lumpur, Malaysia Enterprise risk management practices among Malaysian firms Sara Soltanizadeha, Siti Zaleha Abdul Rasida

4、,*, Nargess Golshanb, Farzana Quoquaba, Rohaida Basiruddina aInternational Business School, Universiti Teknologi Malaysia, Kuala Lumpur, Malaysia bCurtin University, Perth, Australia?Abstract Enterprise Risk Management

5、(ERM) is fast becoming a fundamental concern in all industries. ERM is a holistic approach for managers to identify risks and select appropriate responses in line with enterprise’s risk appetite. This study aims to ide

6、ntify the level of ERM implementation among firms in different industries in Malaysia. Data were gathered from 199 firms listed on the Malaysian Bursa through a questionnaire survey. The analysis shows that ERM impleme

7、ntation varies across different industries and that having an ERM framework in place is more common among firms in the infrastructure, hotel, and technology sectors. © 2014 The Authors. Published by Elsevier Ltd.

8、 Peer-review under responsibility of the School of Accountancy, College of Business, Universiti Utara Malaysia. Keywords: Traditional risk management; enterprise risk management; public listed firms 1. Introduction Unti

9、l two decades ago risk management was not regarded as a strategic and essential management discipline. It was mainly influenced by the managers’ perception of risk (Thompson, 2003). Now, managing risk is becoming a fu

10、ndamental concern and the ability to identify risks and adapt to the ever-changing business environment are among the critical success factors for enterprises (Arena, Arnaboldi, fax: +60321805608. E-mail address: szal

11、eha@ibs.utm.my © 2014 The Authors. Published by Elsevier Ltd. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/3.0/). Peer-review under responsibility of th

12、e School of Accountancy, College of Business, Universiti Utara Malaysia.334 Sara Soltanizadeh et al. / Procedia - Social and Behavioral Sciences 164 ( 2014 ) 332 – 337 ? ? ?There are many researches on ERM imple

13、mentation in developed countries. According to Beasley et al. (2005), ERM implementation in US based companies is less in comparison to international companies. Beasley et al. (2008) showed that costs-benefits of ERM d

14、evelopment differ among industries in the US while Gordon et al. (2009) found that a match between ERM and organizational performance depends on factors such as uncertainty and industry competition. Pagach and Warr (20

15、10) assessed the effect of ERM on organizational long term performance and later in 2011 they found that instead of regulatory pressure, direct economic benefit is the reason for firms throughout the world, listed in C

16、ompustat, to adopt ERM. ERM still is a new concept in many parts of Asia (Manab, Kassim, & Hussin, 2010). In Malaysia, most of previous studies considered ERM implementation in general. For instance Lai et al. (20

17、11) explained how ERM implementation impact organizational performance. They presented the relation between enterprise risk management, business performance, and cost of capital. Razali et al. (2011) classified compani

18、es into either ERM adopted or not to determine factors which have impact on ERM adoption. Since ERM is relatively new in Malaysia, little is known on the level of ERM implementation among various industries. 3. Data c

19、ollection Data were collected through a questionnaire survey distributed to selected public-listed firms on the main board of Bursa Malaysia by a professional agency. Bursa Malaysia clusters firms into twelve industry s

20、ectors namely construction, consumer products, finance, hotels, industrial products, infrastructure, mining, plantation, properties, real estate’s investment trust services (REITS), technology, and trading and services

21、. Firms are classified into one of these sectors based on their primary activity. At the time of data gathering, there were a total of 993 firms listed on the main board of Bursa Malaysia. To increase generalizability

22、, sample firms were chosen from all the twelve industries. To give firms from different industries an equal probability of being selected, stratified sampling method was used. The number of sample firms needed from eac

23、h industry was calculated on a pro-rata basis based on the total number of firms in that industry. Out of 320 questionnaires distributed, 199 were received representing 62 percent response rate. The units of analysis a

24、re the firms and the respondents were the Chief Risk Officers (CRO) of the sample firms. In the event of inexistence of CRO position in the firm, the Chief Financial Officer (CFO) or the most relevant senior position w

25、as chosen as the respondent. In order to assess ERM practices of the firms, following Beasley et al. (2005), we identified the level of ERM implementation in the respective firms. 4. Results Table 1 presents the frequen

26、cy of respondents in different industries. Majority of the respondents were from the industrial products, consumer products, properties, and trading/service industries. On the other hand, demographic characteristics of