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The organizational dynamics of Enterprise Risk Management

  • Arena, Marika
  • Arnaboldi, Michela
  • Azzone, Giovanni
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    This paper explores the organizational dynamics of Enterprise Risk Management (ERM). ERM is the main form taken by firms' increasing efforts to organize uncertainty, which 'exploded' in the 1990s. The ERM approach seeks to link risk management with business strategy and objective-setting, entering the domains of control, accountability and decision making. In this work, the organizational variations of ERM are investigated through a longitudinal multiple case study, using data from three companies collected over a 7-year period (from 2002 to 2008). The findings contribute to our understanding of ERM as a practice, revealing its trajectory within the organizations as it encounters pre-existing logics, and as both are shaped by risk rationalities, experts and technologies.

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    File URL: http://www.sciencedirect.com/science/article/B6VCK-50VSV8G-1/2/250737eaf7d776cb009a12dea1cc6d79
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    Article provided by Elsevier in its journal Accounting, Organizations and Society.

    Volume (Year): 35 (2010)
    Issue (Month): 7 (October)
    Pages: 659-675

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    Handle: RePEc:eee:aosoci:v:35:y:2010:i:7:p:659-675
    Contact details of provider: Web page: http://www.elsevier.com/locate/aos

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    1. Power, Michael, 2009. "The risk management of nothing," Accounting, Organizations and Society, Elsevier, vol. 34(6-7), pages 849-855, August.
    2. Suddaby, Roy & Cooper, David J. & Greenwood, Royston, 2007. "Transnational regulation of professional services: Governance dynamics of field level organizational change," Accounting, Organizations and Society, Elsevier, vol. 32(4-5), pages 333-362.
    3. Robson, Keith & Humphrey, Christopher & Khalifa, Rihab & Jones, Julian, 2007. "Transforming audit technologies: Business risk audit methodologies and the audit field," Accounting, Organizations and Society, Elsevier, vol. 32(4-5), pages 409-438.
    4. Stephen Gates, 2006. "Incorporating Strategic Risk into Enterprise Risk Management: A Survey of Current Corporate Practice," Journal of Applied Corporate Finance, Morgan Stanley, vol. 18(4), pages 81-90.
    5. Hopwood, Anthony G., 1978. "Towards an organizational perspective for the study of accounting and information systems," Accounting, Organizations and Society, Elsevier, vol. 3(1), pages 3-13, February.
    6. repec:reg:rpubli:454 is not listed on IDEAS
    7. Chenhall, Robert H. & Euske, K.J., 2007. "The role of management control systems in planned organizational change: An analysis of two organizations," Accounting, Organizations and Society, Elsevier, vol. 32(7-8), pages 601-637.
    8. Ahrens, Thomas & Chapman, Christopher S., 2007. "Management accounting as practice," Accounting, Organizations and Society, Elsevier, vol. 32(1-2), pages 1-27.
    9. Widener, Sally K., 2007. "An empirical analysis of the levers of control framework," Accounting, Organizations and Society, Elsevier, vol. 32(7-8), pages 757-788.
    10. Susan Thomas & Mandira Sarma & Ajay Shah, 2003. "Selection of Value-at-Risk models," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 22(4), pages 337-358.
    11. Lounsbury, Michael, 2008. "Institutional rationality and practice variation: New directions in the institutional analysis of practice," Accounting, Organizations and Society, Elsevier, vol. 33(4-5), pages 349-361.
    12. Kalu, Timothy Ch. U., 1999. "Capital budgeting under uncertainty: An extended goal programming approach," International Journal of Production Economics, Elsevier, vol. 58(3), pages 235-251, January.
    13. Tom Aabo & John R. S. Fraser & Betty J. Simkins, 2005. "The Rise and Evolution of the Chief Risk Officer: Enterprise Risk Management at Hydro One," Journal of Applied Corporate Finance, Morgan Stanley, vol. 17(3), pages 62-75.
    14. M. Motiar Rahman & Mohan Kumaraswamy, 2002. "Joint risk management through transactionally efficient relational contracting," Construction Management and Economics, Taylor & Francis Journals, vol. 20(1), pages 45-54.
    15. Miller, Peter & Kurunmäki, Liisa & O'Leary, Ted, 2008. "Accounting, hybrids and the management of risk," Accounting, Organizations and Society, Elsevier, vol. 33(7-8), pages 942-967.
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