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DC Field | Value | Language |
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dc.contributor.author | Bezzina, Frank | |
dc.contributor.author | Grima, Simon | |
dc.contributor.author | Mamo, Josephine | |
dc.date.accessioned | 2017-05-18T17:35:06Z | |
dc.date.available | 2017-05-18T17:35:06Z | |
dc.date.issued | 2014 | |
dc.identifier.citation | Bezzina, 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.uri | https://www.um.edu.mt/library/oar//handle/123456789/19184 | |
dc.description.abstract | The 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.iso | en | en_GB |
dc.publisher | Emerald Group Publishing Limited | en_GB |
dc.rights | info:eu-repo/semantics/restrictedAccess | en_GB |
dc.subject | Corporate governance -- Malta | en_GB |
dc.subject | Business enterprises -- Risk management -- Malta | en_GB |
dc.subject | Social responsibility of business | en_GB |
dc.title | Risk management practices adopted by financial firms in Malta | en_GB |
dc.type | article | en_GB |
dc.rights.holder | The 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.reviewed | peer-reviewed | en_GB |
dc.identifier.doi | 10.1108/MF-08-2013-0209 | |
Appears in Collections: | Scholarly Works - FacEMAIns Scholarly Works - FacEMAMAn |
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