Influence of Family Culture on Enterprise Risk Management in Brazilian Companies
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Elisane Brandt
Márcia Zanievicz da Silva
Franciele Beck
Abstract
Context: family involvement creates specific goals that include family interests and values, and is used to pursue the family’s vision, creating effective corporate governance and risk management practices. Objective: our objective is to evaluate the relationship between family influence and enterprise risk management in Brazilian family businesses. Method: data from 142 family businesses was analyzed using descriptive statistics and structural equation modeling. The construct of enterprise risk management comprised: identification, evaluation, response, and communication. Family influence was captured by power, experience, and culture. Results: the results broaden the understanding that, among the three family dimensions investigated, culture is the one that better explains risk management practices. Conclusions: we concluded that the higher the level of family culture, the higher the level of attention to enterprise risk management.
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Brandt, E., Silva, M. Z. da, & Beck, F. (2021). Influence of Family Culture on Enterprise Risk Management in Brazilian Companies. Journal of Contemporary Administration, 25(6), e190082. https://doi.org/10.1590/1982-7849rac2021190082.en
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Gordon, L. A., Loeb, M. P. & Tseng, C. (2009). Enterprise risk management and firm performance: A contingency perspective. J. Account. Public Policy, 28(4), 301-327. https://doi.org/10.1016/j.jaccpubpol.2009.06.006
Gulzar, M. A., & Wang, Z. (2010). Corporate governance and non-listed family owned businesses: An evidence from Pakistan. International Journal of Innovation, Management and Technology, 1(2), 124-129. Retrieved from http://www.ijimt.org/papers/23-C050.pdf
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Hiebl, M. R. W., Duller, C., & Feldbauer-Durstmüller, B. (2015). Family influence and management accounting usage – findings from Germany and Austria. Schmalenbach Business Review, 67(3), 368-404. https://doi.org/10.1007/BF03396880
Holt, D. T., Rutherford, M. W., & Kuratko, D. F. (2010). Advancing the field of Family business research: further testing the measurement properties of the F-PEC. Family Business Review, 23(1), 76-88. https://doi.org/10.1177/0894486509349943
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Jaskiewicz, P., González, V. M., Menéndez, S., & Schiereck, D. (2005). Long-Run IPO performance analysis of German and Spanish family-owned businesses. Family Business Review, 18(3), 179-202. https://doi.org/10.1177/0894486511435355
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