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Risk Management, Corporate Governance and the Public Corporation

In: Risk Management

Author

Listed:
  • Fred R. Kaen

    (University of New Hampshire)

Abstract

The finance literature describes risk management as being concerned with identifying and managing a firm’s exposure to financial risk. Corporate governance is often described as the set of rules, structures and procedures by which investors assure themselves of getting a return on their investment and ensure that managers do not misuse the investor’s funds. This essay addresses the connection between risk management and corporate governance and the public corporation. We argue that risk management and risk management products help ensure the survival of the firm and thereby support broad public policy objectives — objectives beyond the immediate interests of the owners of the company and a narrow financial objective of shareholder wealth maximization.

Suggested Citation

  • Fred R. Kaen, 2005. "Risk Management, Corporate Governance and the Public Corporation," Springer Books, in: Michael Frenkel & Markus Rudolf & Ulrich Hommel (ed.), Risk Management, edition 0, pages 423-436, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-26993-9_21
    DOI: 10.1007/3-540-26993-2_21
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    Cited by:

    1. Narayan SETHI & Kalpana SAHOO & Sanhita SUCHARITA, 2013. "A Survey Of International Financial Risk Management System," Journal of Public Administration, Finance and Law, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 4(4), pages 186-203, December.
    2. Leire San-Jose & Sara Urionabarrenetxea & Jose-Domingo García-Merino, 2022. "Zombie firms and corporate governance: What room for maneuver do companies have to avoid becoming zombies?," Review of Managerial Science, Springer, vol. 16(3), pages 835-862, April.
    3. Gheorghe VOINEA & Sorin Gabriel ANTON, 2009. "Lessons from the Current Financial Crisis. A Risk Management Approach," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 3, pages 139-147, May.
    4. Georgina Tsagas, 2020. "A Proposal for Reform of EU Member States’ Corporate Governance Codes in Support of Sustainability," Sustainability, MDPI, vol. 12(10), pages 1-25, May.
    5. Eckhard Hein & Daniel Detzer & Nina Dodig (ed.), 2015. "The Demise of Finance-dominated Capitalism," Books, Edward Elgar Publishing, number 16281.

    More about this item

    Keywords

    Risk Management; Corporate Governance;

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