Enterprise Risk Management and Firm Performance: The Mediating Role of Corporate Social Responsibility in the European Union Region
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Enterprise Risk Management and Firm Performance: The Mediating Role of Corporate Social Responsibility in the European Union RegionDate
2024Citation
Resende, S., Monje-Amor, A., & Calvo, N. (2024). Enterprise risk management and firm performance: The mediating role of corporate social responsibility in the European Union region. Corporate Social Responsibility and Environmental Management, 1–13. https://doi.org/10.1002/ csr.2719
Abstract
[Abstract]: This study's aim is to examine the impact of enterprise risk management (ERM) on
firm performance when aligned with firm strategy, with a particular emphasis on the
mediating role of corporate social responsibility (CSR) in this relationship. Previous
studies established a connection between ERM and firm performance, as well as
between CSR and firm performance. However, the ERM effect on firm performance
via CSR remains unexplored. Structural equation modeling (SEM) was used to assess
how the ERM affects the firm's performance, both directly and indirectly, through
the influence of CSR strategy. The ERM is represented through risk indicators col lected from 222 companies in the European Union. The data were gathered from
2015 to 2019 and applied to a structural equations-based model to analyze how CSR
acts as a mediator between ERM and firm performance. The findings suggest that
ERM has a significant impact on firm performance, both directly and indirectly,
through the effect of the CSR strategy.
Keywords
Corporate social responsibility
Enterprise risk management
Key performance indicators
Key risk indicators
Performance
Estrategy
Enterprise risk management
Key performance indicators
Key risk indicators
Performance
Estrategy
Editor version
Rights
Atribución 4.0 International
ISSN
1535-3959
1535-3966
1535-3966