Risk Governance in the Finance and Insurance Industry

A special issue of Risks (ISSN 2227-9091).

Deadline for manuscript submissions: closed (31 May 2024) | Viewed by 3879

Special Issue Editors


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Guest Editor
1. Faculty of Business, Management and Economics, University of Latvia, LV-1586 Riga, Latvia
2. Faculty of Economics, Management and Accounting, University of Malta, MSD 2080 Msida, Malta
3. Faculty of Economics, Catholic University of the Sacred Heart, 20122 Milan, Italy
Interests: InsurTech; insurance law and regulations; financial services
Special Issues, Collections and Topics in MDPI journals

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Guest Editor
Department of Finance, Zeigler College of Business, Bloomsburg University of Pennsylvania, 400 East Second Street, Bloomsburg PA 17815-1301, USA
Interests: financial services institutions and regulations; emerging markets finance; the status of women in business

Special Issue Information

Dear Colleagues,

This Special Issue aims to provide a comprehensive platform for researchers, industry professionals, and policymakers to contribute their insights and expertise concerning risk governance within the finance and insurance sectors.

In recent years, the finance and insurance industry has faced numerous challenges related to risk management and governance. Rapid technological advancements, evolving regulatory frameworks, increasing cyber threats, and the emergence of new financial instruments have introduced complexities that demand innovative risk governance approaches. This Special Issue intends to address these challenges and explore cutting-edge research and practical strategies that enhance risk governance practices in the sector.

We invite researchers and practitioners to submit original research articles, case studies, and critical review papers that shed light on various aspects of risk governance in the finance and insurance industry. Topics of interest include, but are not limited to, the following:

  • Risk identification, assessment, and mitigation strategies in financial institutions;
  • Regulatory frameworks and their impact on risk governance in the finance and insurance industry;
  • Risk culture and organizational behavior within financial and insurance institutions;
  • Emerging technologies and their role in risk governance (e.g., artificial intelligence, blockchain);
  • Cyber risk management and cybersecurity in the finance and insurance sectors;
  • The role of big data analytics and predictive modeling in risk governance;
  • Corporate governance and risk management in financial institutions;
  • Ethical considerations in risk governance practices;
  • Risk governance challenges in emerging markets and developing economies;
  • Case studies and best practices in risk governance within the finance and insurance industry.

Prof. Dr. Ramona Rupeika-Apoga
Prof. Dr. Pierpaolo Marano
Prof. Dr. Victoria Geyfman
Guest Editors

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Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1800 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.

Keywords

  • risk governance
  • finance industry
  • insurance industry
  • risk management
  • regulatory frameworks
  • cybersecurity
  • technological advancements
  • financial instruments
  • organizational behavior
  • emerging technologies
  • artificial intelligence
  • blockchain
  • big data analytics
  • predictive modeling
  • corporate governance
  • ethical considerations

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Published Papers (2 papers)

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Research

13 pages, 379 KiB  
Article
Key Determinants of Corporate Governance in Financial Institutions: Evidence from South Africa
by Floyd Khoza, Daniel Makina and Patricia Lindelwa Makoni
Risks 2024, 12(6), 90; https://doi.org/10.3390/risks12060090 - 30 May 2024
Viewed by 1425
Abstract
The purpose of this study was to examine the key determinants of corporate governance in selected financial institutions. Using South African financial institutions as a unit of analysis, namely insurance companies and banks, the study employed a panel generalised method of moments (GMM) [...] Read more.
The purpose of this study was to examine the key determinants of corporate governance in selected financial institutions. Using South African financial institutions as a unit of analysis, namely insurance companies and banks, the study employed a panel generalised method of moments (GMM) model using a data set for the period from 2007 to 2020, to assess key determinants of corporate governance proxies identified for the study. The study sampled 21 South African financial institutions composed of Johannesburg Securities Exchange (JSE) listed and unlisted banks and insurance companies. To measure corporate governance, the study developed a composite index employing the principal components analysis (PCA) method. The findings revealed a positive and significant association between the corporate governance index and its lagged variables. Furthermore, a significant and positive link was found between the efficiency ratio and corporate governance index and capital adequacy ratio (CAR); corporate governance index and firm size; corporate governance index and leverage ratio (LEV); and corporate governance index and return on assets (ROA). However, a negative and significant correlation was found between financial stability and the corporate governance index. The link between return on equity (ROE) and corporate governance was insignificant. A small cohort of financial institutions was excluded because it was challenging to obtain complete annual reports to extract the required data. The study was limited to only five corporate governance measures, namely board diversity, board size, board composition (independent non-executive directors and non-executive directors), and board remuneration. The findings are anticipated to persuade developing countries to pay special attention to how corporate governance is measured. Full article
(This article belongs to the Special Issue Risk Governance in the Finance and Insurance Industry)
20 pages, 844 KiB  
Article
Board Response to Transnational Regulation on Corporate Governance: A Case Study on EU Banking Regulation
by Seppo Ikäheimo, Eduardo Schiehll and Vikash Kumar Sinha
Risks 2024, 12(1), 2; https://doi.org/10.3390/risks12010002 - 25 Dec 2023
Viewed by 1910
Abstract
How does a board of directors respond to stringent transnational regulations on corporate governance? We explore this question in a case study that includes interviews with key governance actors of a bank dealing with regulatory changes in the European Union (EU) initiated in [...] Read more.
How does a board of directors respond to stringent transnational regulations on corporate governance? We explore this question in a case study that includes interviews with key governance actors of a bank dealing with regulatory changes in the European Union (EU) initiated in 2010 in response to the financial crisis of 2007–2008. Our findings suggest that transnational regulations introduced a conflicting prescription to the directors, who were caught between two needs: existing local governance practices and transnational regulatory compliance. Contributing to the international corporate governance research, our findings corroborate the resistance to transnational regulations and the distrust attributable to boards of directors’ role struggles and the invasive accountability mechanisms introduced by such regulations. We, therefore, contribute to the ongoing discussion on how the conflicting layers of corporate governance—local versus global—and how the discontinuities between competing existing practices and the prescriptions of transnational regulations can provoke micro-resistance. Full article
(This article belongs to the Special Issue Risk Governance in the Finance and Insurance Industry)
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