Annotated Bibliography on Enterprise Risk Management Research Essay

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Annotated Bibliography on Enterprise Risk Management
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Annotated Bibliography on Enterprise Risk Management
Enterprise Risk Management (ERM) is a planned business technique that aims at
identifying, assessing and preparing for risks, perils and other potentials for physical and
symbolic disasters that may interfere with the operations and objectives of an organization. The
discipline advocates for identifications of risks that affects the operations of organizations. It also
explains how to manage these risks for the success of these firms. All types of industries are
advocated to utilize ERM for them to improve their performances. Historically, most of the
companies were managing risks through buying of insurance policies against theft, fire,
properties and damage. One of the key elements of ERM is the obstacles associated with
technological failures within the organization, supply chains, expansion and the cost associated
with its financing.
Currently, most of the companies have managed these risks through the capital market
with the derived instruments that assist them in management of challenges they come across.
These challenges may be associated with currencies, price of commodities and interest rates.
Mathematically, these risks are measurable with resulting profits and loses going to the bottom
line of the company’s objectives. The discussion below narrows down different works on the
Enterprise Risk Management in the financial industries all over the globe.
Chuang, Y. W., Lin, C. Y., Shih, J. Y., & Tsai, W. C. (2017). The Value of Implementing
Enterprise Risk Management: Evidence from Taiwan’s Financial Industry
The section of the work examined the relationship between the ERM implementation
with organization’s value among financial institutions in a developed market in Asia. Also, it



examined whether variations in cost revenue effectiveness in organizations can be lengthened
through adoption of ERM. The main idea of the work was to examine whether Taiwan’s
financial industries were assisted by the implementation of the ERM. The article also aimed at
determining the value of adopting ERM in the financial industries. The article showed that
companies that adopts and implements ERM have a lot of benefits to the users and the
stakeholders involved in the industries. The article shows how industries have improved their
revenue and cost efficiencies through the adoption of the ERM. It can be concluded that those
financial institutions that use the strategy have increased their revenues and lowered their cost of
operations because ERM is effective enough.
Liem, C. (2018). Enterprise Risk Management in Banking Industry. Firm Journal of
Management Studies, 3(1), 1-15.
The main aim of the article was to do evaluations regarding implementation of ERM in
the early days in Indonesia. It aimed at examining the effects of the strategy to the performance
of the banking industry in the country. The research involved the four state owned banks in
Indonesia which included Bank Mandiri, Bank Negara and Bank Rakyat. The article helped in
knowing how the state-owned commercial banks in Indonesia have a positive ERM index that
improves their performances. It also helps in understanding the maturity stage of the ERM
implementation strategy. There is objectivity of the article because it advocates for the
embracement of the ERM technique to all banking industries in Indonesia. Erm imp...

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