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Exploring the Perspectives of Corporate Governance and Theories on Sustainability Risk Management (SRM)

Author

Listed:
  • Nazliatul Aniza Abdul Aziz
  • Norlida Abdul Manab
  • Siti Norezam Othman

Abstract

The motivation of this paper stems from the importance of observing good corporate governance by means of SRM approach to create sustainable value for corporate survival. This study explores the perspectives of corporate governance and underlying theories related to sustainability risk management (SRM). There is a growing concern that good corporate governance has an impact on SRM program. Good corporate governance influences companies to adopt sustainable business practices through a more holistic risk management approach in addressing both financial and non-financial risks. Modern portfolio, stakeholder and legitimacy theories are the accepted paradigm in fostering a good corporate governance through the adoption of sustainable risk management in addressing sustainability risk. This paper adds to the literature by highlighting the importance of corporate governance through adoption of sustainable risk management practices in maximizing economic, environmental and social performance.

Suggested Citation

  • Nazliatul Aniza Abdul Aziz & Norlida Abdul Manab & Siti Norezam Othman, 2015. "Exploring the Perspectives of Corporate Governance and Theories on Sustainability Risk Management (SRM)," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 5(10), pages 1148-1158.
    • Handle: RePEc:asi:aeafrj:v:5:y:2015:i:10:p:1148-1158:id:1430
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    Citations

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    Cited by:

    1. Olivier Boiral & David Talbot & Marie‐Christine Brotherton, 2020. "Measuring sustainability risks: A rational myth?," Business Strategy and the Environment, Wiley Blackwell, vol. 29(6), pages 2557-2571, September.
    2. Chaminda Wijethilake & Tek Lama, 2019. "Sustainability core values and sustainability risk management: Moderating effects of top management commitment and stakeholder pressure," Business Strategy and the Environment, Wiley Blackwell, vol. 28(1), pages 143-154, January.
    3. Wing, Albert & Wilk, Shaun, 2019. "Social Responsibility of Recycling," MPRA Paper 93842, University Library of Munich, Germany.
    4. Cristina Cersosimo, 2023. "The determinants of board size in Italian State-owned enterprises operating in water industry," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 50(2), pages 169-182, June.
    5. Magdalena Zioło & Iwona Bąk & Anna Spoz, 2023. "Incorporating ESG Risk in Companies’ Business Models: State of Research and Energy Sector Case Studies," Energies, MDPI, vol. 16(4), pages 1-25, February.

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