Pregled bibliografske jedinice broj: 859312
Does enterprise risk management influence market value – A long-term perspective
Does enterprise risk management influence market value – A long-term perspective // Risk Management, 18 (2016), 2; 65-88 doi:10.1057/rm.2016.3 (međunarodna recenzija, članak, znanstveni)
CROSBI ID: 859312 Za ispravke kontaktirajte CROSBI podršku putem web obrasca
Naslov
Does enterprise risk management influence market value – A long-term perspective
Autori
Miloš Sprčić, Danijela ; Mešin Žagar, Marina ; Šević, Željko ; Marc, Mojca
Izvornik
Risk Management (1460-3799) 18
(2016), 2;
65-88
Vrsta, podvrsta i kategorija rada
Radovi u časopisima, članak, znanstveni
Ključne riječi
enterprise risk management, market value, non-financial companies, US market
Sažetak
This article explores if and how Enterprise Risk Management (ERM) influences market values of large US non-financial companies in the period from 2003 to 2012. This is the first empirical study that brings evidence on the effect of ERM on the value of non-financial companies and that explores not only the market reaction to the ERM announcement, but also the investors’ perception of long-term ERM usage. Our research shows evidence that ERM has a positive effect on the market value for a short period of time following the announcement of ERM implementation. After 2.67 years, the market premium for ERM companies fades away, so a company does not have a higher market value just because it has ERM. Our results indicate that ERM does not contribute to a company’s market value in the long term.
Izvorni jezik
Engleski
Znanstvena područja
Ekonomija
POVEZANOST RADA
Ustanove:
Ekonomski fakultet, Zagreb
Citiraj ovu publikaciju:
Časopis indeksira:
- Current Contents Connect (CCC)
- Web of Science Core Collection (WoSCC)
- Social Science Citation Index (SSCI)
- SCI-EXP, SSCI i/ili A&HCI
- Scopus
