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Allocation of resources for risk management activities by business organisations in developing countries: Evidence from Zambia

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  • Peter Silwimba
  • Olajide Solomon Fadun

Abstract

This study evaluates resources allocated for risk management by business organisations (financial and non-financial firms) in developing countries, using Zambia as a case study. Primary data collected from 158 organisations were analysed using MegaStat. The findings revealed that the majority (54.5%) of organisations, especially non-financial institutions, only commit resources to risk mitigation on an Adhoc or post-event basis, while 45.5% showed a budgeted approach. A significant part of the budgeted 45.5% was used for risk management activities, and 54.5% was used for regular daily operations. Despite this variation, all organisations engaged reported a significant expenditure on risk management, at least on Adhoc. At 4 degrees of freedom (df), which was one less than the total number of possible outcomes, a non-parametric test for significance yielded a scientific P-value of 1.57e-0.7, (a numerical magnitude of 0.0014, P

Suggested Citation

  • Peter Silwimba & Olajide Solomon Fadun, 2022. "Allocation of resources for risk management activities by business organisations in developing countries: Evidence from Zambia," Bussecon Review of Social Sciences (2687-2285), Bussecon International Academy, vol. 4(2), pages 15-24, January.
    • Handle: RePEc:adi:bsrsss:v:4:y:2022:i:2:id:381
    DOI: 10.36096/brss.v4i2.381
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