Abstract
The contribution considers potential challenges of corporate risk management after global financial crisis. The global financial crisis negatively affects the financial health of world economies, which in turn have been affected by the financial health of operating firms. According to Pittman and Ivry (U.S. Taxpayers Risk $9.7 Trillion on Bailout Programs, Huffington Post, 2009), the value of the world’s companies has decreased by the crisis by $14.5 trillion or 33%. The most common reason for the bankruptcies of global companies was poor quality of risk management within these companies. One of the positive impacts of this crisis was the creation of the ISO standard ISO 31000:2009 Risk Management—Principles and guidelines (with supporting standard IEC 31010:2009—Risk Management—Risk assessment techniques). Corporate risk management has emerged as one of the most important corporate activities. The influence of ISO 31000 on companies was so fundamental that there was also a significant change in the revised standard ISO 9001: 2015—which in itself involves a new risk management system. Whether these measures improve the future financial health of companies is an important issue for further research.
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Benetti, K. (2019). Challenges of Corporate Risk Management After the Global Financial Crisis. In: Ashmarina, S., Vochozka, M. (eds) Sustainable Growth and Development of Economic Systems. Contributions to Economics. Springer, Cham. https://doi.org/10.1007/978-3-030-11754-2_1
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