Project Title
Implementation of enterprise risk management among financial institutions of Ecuador
Consortium Coordinator
Partner Organisations
Internal ID
SAEIDI PARVANEH
Principal Investigator
Status
FINALIZADO
Start Date
January 2, 2022
End Date
December 30, 2022
Investigators
PONCE VILLACIS PAULINA
Organisations
Description
Today, organizations have realized the importance of risk management in concern with their business activities. They have found that traditional risk management systems which were a silo-based method is not as suitable in today’s environment. Therefore, they should focus on other methods which have a more wholistic tendency. Lately, Enterprise Risk Management (ERM) is presented as an instrument to overcome today’s challenges and uncertainties. ERM is a systematic program leading firms to reduce risk, improve decision making processes, prevent firm’s failure, and finally create positive outcomes which are the goals of all firms. However, ERM and its implementation is still at an emerging phase. The present study aims to develop a comprehensive framework to examine the main important factors of implementation of ERM. By using fuzzy-set qualitative comparative analysis (fsQCA) on quantitative data from a survey of 80 risk managers from financial institutions in Ecuador, this study explores the relationship between factors that cause better implementation of ERM. The analyses results will demonstrate which factor will rank as the first factor following to others. In addition, the results of this, will show the high efficiency and capability that the proposed approach has to handle the ERM problem in financial companies