Academic Commons

Reports

A behavioral risk management system

Goto, Shigeyuki

It is really vital for corporate management to determine the extent of uncertainty the entity is prepared to accept for increasing stakeholder's value. Board of directors would set up an entity's strategic objective, an entity's operational objectives, and its risk appetite. The management is expected to respond properly to the risk associated with complex environment, to guard against irrational decision-making, and over-commitment, and to introduce effective controls for securing efficient execution. Corporations should consider to critically examine their risk management system from a Humanistic viewpoint. I would like to clarify the mechanism which improves employees' risk sense, creates risk preventive knowledge and encourage proper risk communication. I refer to the risk management system properly equipped with such a as "Behavioral Risk Management System."

Geographic Areas

Subjects

Files

More About This Work

Academic Units
Center on Japanese Economy and Business
Publisher
Center on Japanese Economy and Business, Graduate School of Business, Columbia University
Series
Center on Japanese Economy and Business Occasional Papers, 56
Published Here
February 16, 2011
Academic Commons provides global access to research and scholarship produced at Columbia University, Barnard College, Teachers College, Union Theological Seminary and Jewish Theological Seminary. Academic Commons is managed by the Columbia University Libraries.