Stakeholder approach in benchmark of corporate risk management

Decision-making regarding cooperation with a particular company requires a sufficiently in-depth analysis of the attractiveness and prospects of such cooperation. Standard methods of analysis, such as analysis of economic activity, investment attractiveness and efficiency of investment projects, und...

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Autor principal:	V. M. Makarova
Formato:	article
Lenguaje:	RU
Publicado:	Real Economics Publishing House 2017
Materias:	benchmarking corporate risk management performance indicators Risk in industry. Risk management HD61
Acceso en línea:	https://doaj.org/article/9048ec8fef8840e5ad0f15000dad79fa
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id	oai:doaj.org-article:9048ec8fef8840e5ad0f15000dad79fa
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spelling	oai:doaj.org-article:9048ec8fef8840e5ad0f15000dad79fa2021-11-19T10:41:59ZStakeholder approach in benchmark of corporate risk management2618-947X2618-998410.17747/2078-8886-2017-4-5-16-29https://doaj.org/article/9048ec8fef8840e5ad0f15000dad79fa2017-10-01T00:00:00Zhttps://www.jsdrm.ru/jour/article/view/702https://doaj.org/toc/2618-947Xhttps://doaj.org/toc/2618-9984Decision-making regarding cooperation with a particular company requires a sufficiently in-depth analysis of the attractiveness and prospects of such cooperation. Standard methods of analysis, such as analysis of economic activity, investment attractiveness and efficiency of investment projects, undoubtedly remain the main ones in the organization of interaction, but due to the fact that most companies deviate from the normative values of activity and still remain attractive enough for cooperation, the analysis of the efficiency of intrafirms corporate processes is becoming increasingly popular. The huge variety of risk management methods, along with the inability to obtain reliable information about the methods used within the firm, force stakeholders to pay attention to indirect signals of effectiveness evaluation. In the course of the research, it was suggested that stakeholders have their own judgment about the effectiveness of intracorporate management processes that are different from common valuation techniques and conducted their own research. Based on the survey data conducted with representatives of the top management of various sectors of the economy, a list of relevant criteria for the effectiveness of intra-corporate risk management was obtained. The use of statistical methods of analysis and methods of scientific knowledge allowed to develop a mathematical methodology for evaluating these criteria, and empirical data of 88 Russian companies in the non-financial sector were used as a basis for calculating control points for application in practice. The theoretical significance is the identification of points of control of the effectiveness of risk management from the perspective of stakeholders; practical relevance reflects the toolkit for comparing the company with the best practices.V. M. MakarovaReal Economics Publishing House articlebenchmarkingcorporate risk managementperformance indicatorsRisk in industry. Risk managementHD61RU Strategičeskie Rešeniâ i Risk-Menedžment, Vol 0, Iss 4-5, Pp 16-29 (2017)
institution	DOAJ
collection	DOAJ
language	RU
topic	benchmarking corporate risk management performance indicators Risk in industry. Risk management HD61
spellingShingle	benchmarking corporate risk management performance indicators Risk in industry. Risk management HD61 V. M. Makarova Stakeholder approach in benchmark of corporate risk management
description	Decision-making regarding cooperation with a particular company requires a sufficiently in-depth analysis of the attractiveness and prospects of such cooperation. Standard methods of analysis, such as analysis of economic activity, investment attractiveness and efficiency of investment projects, undoubtedly remain the main ones in the organization of interaction, but due to the fact that most companies deviate from the normative values of activity and still remain attractive enough for cooperation, the analysis of the efficiency of intrafirms corporate processes is becoming increasingly popular. The huge variety of risk management methods, along with the inability to obtain reliable information about the methods used within the firm, force stakeholders to pay attention to indirect signals of effectiveness evaluation. In the course of the research, it was suggested that stakeholders have their own judgment about the effectiveness of intracorporate management processes that are different from common valuation techniques and conducted their own research. Based on the survey data conducted with representatives of the top management of various sectors of the economy, a list of relevant criteria for the effectiveness of intra-corporate risk management was obtained. The use of statistical methods of analysis and methods of scientific knowledge allowed to develop a mathematical methodology for evaluating these criteria, and empirical data of 88 Russian companies in the non-financial sector were used as a basis for calculating control points for application in practice. The theoretical significance is the identification of points of control of the effectiveness of risk management from the perspective of stakeholders; practical relevance reflects the toolkit for comparing the company with the best practices.
format	article
author	V. M. Makarova
author_facet	V. M. Makarova
author_sort	V. M. Makarova
title	Stakeholder approach in benchmark of corporate risk management
title_short	Stakeholder approach in benchmark of corporate risk management
title_full	Stakeholder approach in benchmark of corporate risk management
title_fullStr	Stakeholder approach in benchmark of corporate risk management
title_full_unstemmed	Stakeholder approach in benchmark of corporate risk management
title_sort	stakeholder approach in benchmark of corporate risk management
publisher	Real Economics Publishing House
publishDate	2017
url	https://doaj.org/article/9048ec8fef8840e5ad0f15000dad79fa
work_keys_str_mv	AT vmmakarova stakeholderapproachinbenchmarkofcorporateriskmanagement
_version_	1718420206671364096

Stakeholder approach in benchmark of corporate risk management

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