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An Exploratory Study of Enterprise Risk Management in Northern Europe

Author

Listed:
  • Siyu Wu

    (Shanghai University, China)

  • Xiaosong Zheng

    (Tallinn University of Technology, Estonia)

Abstract

Northern Europe is one of the richest regions in the world. These countries produce many famous top 500 enterprises and business culture in Nordic countries is highly regarded worldwide, which features flat hierarchy, equity, honesty and uprightness. Nordic companies also have outstanding risk management capability because they recovered from financial crisis quickly after adjusting strategies. As a result, business models of these Nordic companies become preferred models being studied by scholars. This paper aims to analyze advanced risk management culture and risk management skills in Nordic countries. The paper will first discuss definitions of risk management. Then Nordic management style and risk management models will be presented and discussed. Furthermore, Nordic enterprises risk management case studies are carefully conducted. Finally, conclusion and suggestions are made at the end of the paper.

Suggested Citation

  • Siyu Wu & Xiaosong Zheng, 2016. "An Exploratory Study of Enterprise Risk Management in Northern Europe," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 5(4), pages 280-289, November.
  • Handle: RePEc:ods:journl:v:5:y:2016:i:4:p:280-289
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    References listed on IDEAS

    as
    1. Eugene P. Shutov, 2012. "Management of economic risks in the food processing enterprise," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 1(2), pages 282-286.
    2. Xiaosong Zheng, 2014. "Factors Influencing Location Selection in Inward Foreign Direct Investment to China," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 3(1), pages 41-51.
    3. Nahil Boussiga & Ezzeddine Abaoub, 2013. "International Financial Integration And Equity Risk Premium In Emerging Countries," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 2(1), pages 4-14.
    4. Andri Dan Traustason & Hilmar Þór Hilmarsson, 2016. "Iceland-UK Interconnector: A Brief Analysis of Possible Political Risk Mitigation and Dispute Settlement," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 5(1), pages 66-74, February.
    5. Hilmar Þór Hilmarsson, 2014. "Iceland and Latvia During the 2008 Global Economic and Financial Crisis: Economic Policy Response and Post Crisis Results," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 3(3), pages 146-154.
    6. Roman I. Koryakov, 2012. "Impact of high credit interest rates on establishing risk management in a bank," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 1(3), pages 369-374.
    7. Xiaosong Zheng & Jaan Alver, 2015. "An Exploratory Study of Governmental Management Accounting in China," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 4(2), pages 102-110.
    8. Nahil Boussiga & Ezzeddine Abaoub, 2015. "How Does Government Policy Affect Equity Risk Premium?," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 4(2), pages 65-75.
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    Cited by:

    1. Ziyi Li & Xiaosong Zheng, 2017. "A Critical Study of Commercial Banks' Credit Risk Assessment and Management for SMEs: The Case of Agricultural Bank of China," Journal of Applied Management and Investments, Department of Business Administration and Corporate Security, International Humanitarian University, vol. 6(2), pages 106-117, May.

    More about this item

    Keywords

    Nordic company; risk management; risk culture;

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