The organizational dynamics of enterprise risk management

Abstract

accounting, organizations and society 35 (2010) 659–675 contents lists available at sciencedirect accounting, organizations and society j o u r n a l h o m e p a g e : w w w . e l s e v i e r . c o m / l o c a t e / a o s the organizational dynamics of enterprise risk management marika arena 1, michela arnaboldi *, giovanni azzone 2 politecnico di milano, dipartimento di ingegneria gestionale, piazza leonardo da vinci, 32, 20133 milano, italy a r t i c l e i n f o a b s t r a c t this paper explores the organizational dynamics of enterprise risk management (erm). erm is the main form taken by firms’ increasing efforts to organize uncertainty, which ‘exploded’ in the 1990s. the erm approach seeks to link risk management with business strategy and objective-setting, entering the domains of control, accountability and decision making. in this work, the organizational variations of erm are investigated through a longitudinal multiple case study, using data from three companies collected over a 7-year period (from 2002 to 2008). the findings contribute to our understanding of erm as a practice, revealing its trajectory within the organizations as it encounters pre-existing logics, and as both are shaped by risk rationalities, experts and technologies. (cid:2) 2010 elsevier ltd. all rights reserved. introduction ‘‘we now propose to introduce enterprise risk management (erm) analysis into the corporate credit ratings process globally as a forward-looking, structured framework to …

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