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JRFM
Special Issues
Risk Planning and Management in Companies
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Risk Planning and Management in Companies

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074). This special issue belongs to the section "Business and Entrepreneurship".

Deadline for manuscript submissions: closed (30 April 2024) | Viewed by 11146

Special Issue Editor

Prof. Dr. Fernando Oliveira Tavares

E-Mail Website
Guest Editor
REMIT, Department of Economics and Management, Universidade Portucalense, 4200-027 Porto, Portugal
Interests: business administration; accounting scholarship; business economics and tourism
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

The aim of this Special Issue of JRFM is to contribute to research on the theme of "Risk Planning and Management in Companies". Risk planning and management in companies involves identifying, assessing, and controlling potential risks that could negatively impact a business, including financial risks, operational risks, image risks, strategic risks, and legal risks. Effective risk planning and management can help businesses to protect their assets, maintain their reputation, and ensure the continuity of their operations.

These risks can also impact a company's sustainability goals. For instance, financial risks can affect a company's ability to invest in sustainable practices or products, while operational risks can affect the efficiency of sustainable processes. Image risks can damage a company's reputation and impact its ability to attract sustainable-minded customers or investors, and strategic risks can impede the company's achievement of long-term sustainability goals. Legal risks can also result in fines, penalties, or reputational damage if environmental regulations or other sustainability-related laws are found to have been violated.

It is important to study the differences in risk management between family and non-family businesses, as family businesses face unique challenges related to ownership and succession planning. By identifying and mitigating potential risks, companies can reduce their negative impact on the environment and society, achieve their sustainability goals, and ensure long-term success and sustainability.

Prof. Dr. Fernando Oliveira Tavares
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Journal of Risk and Financial Management is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1400 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

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Published Papers (5 papers)

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Research

11 pages, 292 KiB  
Article
Does the Way Variables Are Calculated Change the Conclusions to Be Drawn? A Study Applied to the Ratio ROI (Return on Investment)
by Tiago Patrocínio, Mara Madaleno and Manuel Carlos Nogueira
J. Risk Financial Manag. 2024, 17(7), 266; https://doi.org/10.3390/jrfm17070266 - 27 Jun 2024
Viewed by 757
Abstract
This research aims to analyse the financial performance of companies using one of the most used profitability indicators, the return on investment (ROI), which measures the company’s performance in terms of the profit generated over time. To this end, several different methods are [...] Read more.
This research aims to analyse the financial performance of companies using one of the most used profitability indicators, the return on investment (ROI), which measures the company’s performance in terms of the profit generated over time. To this end, several different methods are used to calculate the ROI indicator, considering the different calculation methods used by different authors over the years. The use of different ROI calculation formulas has been identified in the literature, leading to different conclusions. Based on a sample of 2805 Portuguese companies, it examines how the different indicators react to the different variables analysed, using nine different econometric models. Through this study, it is possible to verify that the different variables that depend on the return on investment have different results, namely that the variables “age” and “size” have a negative effect on the return on investment. On the other hand, “financial leverage” and “ROA” have a positive impact on the contribution to the return on investment. We also found that the different variables behave similarly for virtually all types of ROI calculation, although not completely harmonious, especially in terms of impact. The results are empirically vital, as they alert researchers and companies to the need for standardised formulas for calculating variables such as ROI so that results are not distorted. Using one to the detriment of the other impacts the results obtained and the analyses to be carried out. How empirical research will continue to use the ROI metric will always depend on its users’ discretion and free will. Full article
(This article belongs to the Special Issue Risk Planning and Management in Companies)
27 pages, 967 KiB  
Article
Predicting Risk of and Motives behind Fraud in Financial Statements of Jordanian Industrial Firms Using Hexagon Theory
by Ahmad Ahed Bader, Yousef A. Abu Hajar, Sulaiman Raji Sulaiman Weshah and Bisan Khalil Almasri
J. Risk Financial Manag. 2024, 17(3), 120; https://doi.org/10.3390/jrfm17030120 - 15 Mar 2024
Cited by 1 | Viewed by 3389
Abstract
This study intends to identify the motives that lead to increasing or fighting the fraud risk in the Financial Statements (FSs) of industrial companies whose shares are traded in regulated and unregulated markets at the Amman Stock Exchange (ASE) based on the Hexagon [...] Read more.
This study intends to identify the motives that lead to increasing or fighting the fraud risk in the Financial Statements (FSs) of industrial companies whose shares are traded in regulated and unregulated markets at the Amman Stock Exchange (ASE) based on the Hexagon theory, which divides the motives for fraud into six factors. The study relied on secondary data to collect and measure the study variables by extracting them from the annual reports that were published by those companies on the website of the ASE during the period of 2012–2017. The collected data were analyzed using the logistic regression model on the SPSS program. The results confirmed that the return on assets (ROA), percentage of independent members in audit committees, and tone-related party transactions had a statistically significant relationship with predicted fraudulent FSs, where these three variables belong to pressure, opportunity, and collusion fraud motives, respectively. Thus, it is worth mentioning that this study is distinguished from previous studies that examined the issue of fraud in Jordanian companies by detecting the motives of fraud according to the Fraud Hexagon theory. Moreover, some of the fraud motives were measured using new variables such as a change in inventory, the age of auditing committee’s members, and tone-related party transactions. Full article
(This article belongs to the Special Issue Risk Planning and Management in Companies)
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22 pages, 378 KiB  
Article
Tempering Financial Reporting Risk through Board Risk Management
by Mark Beasley, Allen Blay, Christina Lewellen and Michelle McAllister
J. Risk Financial Manag. 2023, 16(12), 491; https://doi.org/10.3390/jrfm16120491 - 21 Nov 2023
Viewed by 3005
Abstract
Recent corporate governance failures have heightened stakeholder expectations that the board of directors engage in robust oversight of the firm’s risk management processes. This expectation is in line with widely embraced enterprise risk management frameworks, which assert that strong board risk management is [...] Read more.
Recent corporate governance failures have heightened stakeholder expectations that the board of directors engage in robust oversight of the firm’s risk management processes. This expectation is in line with widely embraced enterprise risk management frameworks, which assert that strong board risk management is a key component of an entity’s risk management process. We use a hand-coded measure of board engagement in risk management from the recent literature to measure the robustness of that oversight for a sample of large, publicly traded U.S. firms and examine the relationship between robust board risk management (board risk management) and firm-wide strategies for mitigating financial reporting risk. While controlling for board composition-related characteristics, we found a positive association between robust board risk management processes and two avenues for mitigating financial reporting risk (i.e., more effective internal control over financial reporting and the selection of industry specialist auditors). Our results indicate that firms with more robust board risk management are associated with fewer actual instances of materially misstated financial statements and less earnings management. Full article
(This article belongs to the Special Issue Risk Planning and Management in Companies)
18 pages, 3860 KiB  
Article
Risk and Bankruptcy Research: Mapping the State of the Art
by Luís Almeida
J. Risk Financial Manag. 2023, 16(8), 361; https://doi.org/10.3390/jrfm16080361 - 2 Aug 2023
Cited by 4 | Viewed by 1888
Abstract
This article presents a bibliometric study on different types of risk and bankruptcy, aiming to contribute to academic knowledge in this area. We used the bibliometrix tools in R and VOSviewer, following the main laws of bibliometrics (Bradford’s law, Lotka’s law, and Zipf’s [...] Read more.
This article presents a bibliometric study on different types of risk and bankruptcy, aiming to contribute to academic knowledge in this area. We used the bibliometrix tools in R and VOSviewer, following the main laws of bibliometrics (Bradford’s law, Lotka’s law, and Zipf’s law). We analyzed 7163 relevant academic publications retrieved from the WOS database between 1995 and 2023. The characterization of the literature identified trends, importance, and scientific relevance of works, journals, and authors. This allows for promoting collaborations among researchers and provides insights for strategic decision making, advancing knowledge in the field. The most relevant journal was the “Journal of Banking and Finance”, with Edward Altman as the prominent author. The United States and China were the most active countries in research. The current research highlights terms such as “board size”, “CRS”, “responsibility”, and “governance”, which are commonly found in recent works. The themes of greatest centrality include risk, model, and debt. The bibliometric review revealed gaps in knowledge and research, indicating a growing trend of studies in this area. This article provides valuable information for researchers and managers, supporting decision making in risk management and bankruptcy. Full article
(This article belongs to the Special Issue Risk Planning and Management in Companies)
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15 pages, 603 KiB  
Article
Risk Planning and Management in Portuguese Companies—A Statistical Approach
by Fernando Oliveira Tavares, Eulália Santos, Vasco Capela Tavares and Vanessa Ratten
J. Risk Financial Manag. 2023, 16(7), 314; https://doi.org/10.3390/jrfm16070314 - 28 Jun 2023
Cited by 2 | Viewed by 1391
Abstract
The purpose of this article is to study risk management planning and risk management in Portuguese companies. The methodology used is of a quantitative nature, based on a questionnaire survey that analyzes the risk management planning and risk management of 1647 Portuguese companies [...] Read more.
The purpose of this article is to study risk management planning and risk management in Portuguese companies. The methodology used is of a quantitative nature, based on a questionnaire survey that analyzes the risk management planning and risk management of 1647 Portuguese companies from different sectors of activity. The results allow us to conclude that the aspects that most manifest themselves in the perceptions of risk management planning are having a management plan that includes the relationship with customers, suppliers, and employees, as well as an updated security plan. This study intends to contribute to academic knowledge and for companies to know and master the concepts of risk management planning and risk management in its different aspects, helping the adoption of strategies to better plan risk management. The results make it possible to understand the differences in planning and risk management between larger and smaller companies, between older and younger companies, and between family and non-family companies. These results can contribute to increasing corporate sustainability and improving performance in planning and managing corporate risks. Full article
(This article belongs to the Special Issue Risk Planning and Management in Companies)
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