NORAZNIRA ABD RAZAK, ZURIAH ABDUL RAHMANAND HALIMAHTON BORHAN, UNIVERSITY TECHNOLOGY MARA (UITM), MALAYSIA
Purpose: The various financial crises occurring globally gave rise to the proliferation of different risk management frameworks. This paper focuses on the enterprise risk management (ERM) practice within an organization and its impact on firm specific factor and firm performance relationship by adopting the structure-process-outcome theory.
Design/methodology/approach: The study employs a survey approach with a self-administered questionnaire distributed to companies listed under Malaysian Bourse.
Findings: The results propose a conceptual strategic risk management framework focusing on the development and sustainability of corporate performance in the context of listed companies in Malaysia.
Originality/value: The novelty of this study is the contribution to the body of knowledge through the development of new findings on enterprise risk management (ERM) studies in Malaysia.
Keywords: Risk culture, Enterprise risk management, Firm resources, Firm performance, Strategic risk management
Paper type: Conceptual paper