Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/19184
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dc.contributor.authorBezzina, Frank
dc.contributor.authorGrima, Simon
dc.contributor.authorMamo, Josephine
dc.date.accessioned2017-05-18T17:35:06Z
dc.date.available2017-05-18T17:35:06Z
dc.date.issued2014
dc.identifier.citationBezzina, F., Grima, S., & Mamo, J. (2014). Risk management practices adopted by financial firms in Malta. Managerial Finance, 40(6), 587-612.en_GB
dc.identifier.urihttps://www.um.edu.mt/library/oar//handle/123456789/19184
dc.description.abstractThe purpose of this paper is to bring to light the risk management practices adopted by financial firms in the small island state of Malta. It seeks to: first, identify the risk management strategies and mechanisms that these firms adopt to manage risks, maximise opportunities, and maintain financial stability; second, determine whether these practices are perceived as contributing to principled performance; third, examine the extent to which risk management capabilities offer competitive advantage to firms, and fourth, investigate whether corporate social responsibility (CSR) is a key driver of risk management corporate strategies. Design/methodology/approach; A self-administered questionnaire purposely designed for the present study was distributed among the 156 credit institutions, investment firms and financial institutions registered with the Malta Financial Services Authority. Overall, 141 firms participated in the study (a response rate of 90.4 per cent) and the responses were subjected to statistical analysis in an attempt to answer four research questions. Findings; Maltese financial firms have sound risk management practices that link positively with added value and principled performance. Although competitive advantage has been given less weight by these firms, the implemented risk management mechanisms allow for a strong risk culture, defined risk management goals, accountability and continual improvement. CSR forms part of the firms’ risk management corporate strategies and is valued as part of these firms’ corporate culture, while financial/economic factors are viewed as key in driving effective risk management principles. Originality/value; The study provides empirical evidence that securing “best practice” in firms’ risk management corporate culture is seen as better predicated on maximising financial advantage (“the instrumental driver”) rather than simply reflecting externally imposed standards (“the compliance driver”).en_GB
dc.language.isoenen_GB
dc.publisherEmerald Group Publishing Limiteden_GB
dc.rightsinfo:eu-repo/semantics/restrictedAccessen_GB
dc.subjectCorporate governance -- Maltaen_GB
dc.subjectBusiness enterprises -- Risk management -- Maltaen_GB
dc.subjectSocial responsibility of businessen_GB
dc.titleRisk management practices adopted by financial firms in Maltaen_GB
dc.typearticleen_GB
dc.rights.holderThe copyright of this work belongs to the author(s)/publisher. The rights of this work are as defined by the appropriate Copyright Legislation or as modified by any successive legislation. Users may access this work and can make use of the information contained in accordance with the Copyright Legislation provided that the author must be properly acknowledged. Further distribution or reproduction in any format is prohibited without the prior permission of the copyright holder.en_GB
dc.description.reviewedpeer-revieweden_GB
dc.identifier.doi10.1108/MF-08-2013-0209
Appears in Collections:Scholarly Works - FacEMAIns
Scholarly Works - FacEMAMAn

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