Ownership, board, and enterprise risk management

This paper analyses the effect of family ownership and the characteristics of the board of directors on the implementation level of enterprise risk management (ERM) in Span-ish non-financial companies. The sample consists of 162 Spanish non-financial companies list-ed on Spanish stock exchanges and...

Descripción completa

Detalles Bibliográficos
Autores: Otero González, Luis, Rodríguez Gil, Luis Ignacio, Durán Santomil, Pablo, Tamayo Herrera, Araceli
Tipo de recurso: artículo
Fecha de publicación:2020
País:España
Institución:Universidad de Santiago de Compostela (USC)
Repositorio:Minerva. Repositorio Institucional de la Universidad de Santiago de Compostela
Idioma:inglés
OAI Identifier:oai:minerva.usc.gal:10347/40613
Acceso en línea:https://hdl.handle.net/10347/40613
Access Level:acceso abierto
Palabra clave:Family ownership
Corporate governance
Enterprise Risk Management (ERM)
Propiedad familiar
Gobierno corporativo
Gestión integral de riesgos (ERM)
id ES_6de765b2cd4ec05b1023c8dbdbbb2a91
oai_identifier_str oai:minerva.usc.gal:10347/40613
network_acronym_str ES
network_name_str España
repository_id_str
spelling Ownership, board, and enterprise risk managementPropiedad, consejo y gestión del riesgo empresarialOtero González, LuisRodríguez Gil, Luis IgnacioDurán Santomil, PabloTamayo Herrera, AraceliFamily ownershipCorporate governanceEnterprise Risk Management (ERM)Propiedad familiarGobierno corporativoGestión integral de riesgos (ERM)This paper analyses the effect of family ownership and the characteristics of the board of directors on the implementation level of enterprise risk management (ERM) in Span-ish non-financial companies. The sample consists of 162 Spanish non-financial companies list-ed on Spanish stock exchanges and markets during 2012–2015. The results obtained show that the relationship between the level of family ownership concentration and the implementa-tion level of an ERM system has a non-linear structure. Therefore, a reduction in implemen-tation for moderate ownership levels is observed, although this increases with high owner-ship values. Regarding corporate governance, our study confirms the importance of certain characteristics of the board of directors, such as the size and the figure of the shareholder director in the implementation of formal ERM systems.Universidad de MálagaUniversidade de Santiago de Compostela. Departamento de Economía Financeira e Contabilidade20202020-01-0120202020-01-01journal articlehttp://purl.org/coar/resource_type/c_6501VoRhttp://purl.org/coar/version/c_970fb48d4fbd8a85info:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/10347/40613reponame:Minerva. Repositorio Institucional de la Universidad de Santiago de Compostelainstname:Universidad de Santiago de Compostela (USC)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2Copyright 2020: Luis Otero-González, Luis-Ignacio Rodríguez-Gil, Pablo Durán-Santomil, Araceli Tamayo-Herrera. This work is licensed under a Creative Commons Atribution-NonCommercial-ShareAlike 4.0 International License (CC BY-NC-SA 4.0).http://creativecommons.org/licenses/by-nc-sa/4.0/info:eu-repo/semantics/openAccessoai:minerva.usc.gal:10347/406132026-06-15T12:47:27Z
dc.title.none.fl_str_mv Ownership, board, and enterprise risk management
Propiedad, consejo y gestión del riesgo empresarial
title Ownership, board, and enterprise risk management
spellingShingle Ownership, board, and enterprise risk management
Otero González, Luis
Family ownership
Corporate governance
Enterprise Risk Management (ERM)
Propiedad familiar
Gobierno corporativo
Gestión integral de riesgos (ERM)
title_short Ownership, board, and enterprise risk management
title_full Ownership, board, and enterprise risk management
title_fullStr Ownership, board, and enterprise risk management
title_full_unstemmed Ownership, board, and enterprise risk management
title_sort Ownership, board, and enterprise risk management
dc.creator.none.fl_str_mv Otero González, Luis
Rodríguez Gil, Luis Ignacio
Durán Santomil, Pablo
Tamayo Herrera, Araceli
author Otero González, Luis
author_facet Otero González, Luis
Rodríguez Gil, Luis Ignacio
Durán Santomil, Pablo
Tamayo Herrera, Araceli
author_role author
author2 Rodríguez Gil, Luis Ignacio
Durán Santomil, Pablo
Tamayo Herrera, Araceli
author2_role author
author
author
dc.contributor.none.fl_str_mv Universidade de Santiago de Compostela. Departamento de Economía Financeira e Contabilidade
dc.subject.none.fl_str_mv Family ownership
Corporate governance
Enterprise Risk Management (ERM)
Propiedad familiar
Gobierno corporativo
Gestión integral de riesgos (ERM)
topic Family ownership
Corporate governance
Enterprise Risk Management (ERM)
Propiedad familiar
Gobierno corporativo
Gestión integral de riesgos (ERM)
description This paper analyses the effect of family ownership and the characteristics of the board of directors on the implementation level of enterprise risk management (ERM) in Span-ish non-financial companies. The sample consists of 162 Spanish non-financial companies list-ed on Spanish stock exchanges and markets during 2012–2015. The results obtained show that the relationship between the level of family ownership concentration and the implementa-tion level of an ERM system has a non-linear structure. Therefore, a reduction in implemen-tation for moderate ownership levels is observed, although this increases with high owner-ship values. Regarding corporate governance, our study confirms the importance of certain characteristics of the board of directors, such as the size and the figure of the shareholder director in the implementation of formal ERM systems.
publishDate 2020
dc.date.none.fl_str_mv 2020
2020-01-01
2020
2020-01-01
dc.type.none.fl_str_mv journal article
http://purl.org/coar/resource_type/c_6501
VoR
http://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv https://hdl.handle.net/10347/40613
url https://hdl.handle.net/10347/40613
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
http://creativecommons.org/licenses/by-nc-sa/4.0/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
http://creativecommons.org/licenses/by-nc-sa/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidad de Málaga
publisher.none.fl_str_mv Universidad de Málaga
dc.source.none.fl_str_mv reponame:Minerva. Repositorio Institucional de la Universidad de Santiago de Compostela
instname:Universidad de Santiago de Compostela (USC)
instname_str Universidad de Santiago de Compostela (USC)
reponame_str Minerva. Repositorio Institucional de la Universidad de Santiago de Compostela
collection Minerva. Repositorio Institucional de la Universidad de Santiago de Compostela
repository.name.fl_str_mv
repository.mail.fl_str_mv
_version_ 1869410386356207616
score 15,81155

Similares en LA Referencia