Abstract:
Risk management and firm performance in organizations became crucial when it
involves research over a previous couple of decades and remains widely discussed
globally. The tendency is to take a holistic overview of risk management instead of
considering risk management from a silo-based view. This holistic approach to risk
management is usually mentioned as Corporate Risk Management (CRM). There are
so many shreds of evidence for the statement that organizations will enhance their
performance by using the CRM concept. The main objective instigated during this
study is that the proper match between corporate risk management (CRM) and,
therefore, the firm factors: namely, Industry competition (CI), firm size (FS), firm
complexity (FC), and monitoring by the board of directors (MBD) and the
relationship among CRM and firm performance (P). Supported a sampling of 60 firms
in CSE, reflecting the maintaining of their CRM operations in their annual reports,
empirical evidence supports the main argument instigated above. These findings
mean that firms should implement the CRM in aggregation with the appropriate
variables adjoining the firm.
