Work

Systematic Risk Management Practices and Improved Risk Culture in Slovenian Non-Financial Corporations: A SEM Approach

Year: 2025

Type: article

Abstract: There is limited empirical evidence on how the risk management process is implemented in non-financial corporations, resulting in an incomplete understanding—particularly in post-transitional economies such as Slovenia. Using Structural Equation Modeling on data collected from Slovenian non-financial corporations in 2023, we find that a well-structured risk management process positively influences the adoption of advanced risk management methods and practices. This, in turn, significantly reduces challenges associated with risk management, enhances its overall effectiveness, and directly contributes to corporate value creation. These findings highlight the strategic importance of risk management as an essential component of organizational governance.

Source: Journal of East European Management Studies

DOI: 10.31083/jeems46113

Authors: Timotej Jagrič, Maja Rožman, Vita Jagrič

Institution: University of Maribor

Language: English

Topic: Risk Management in Financial Firms

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: hybrid

Funder: Javna Agencija za Raziskovalno Dejavnost RS