Influence of Family Culture on Enterprise Risk Management in Brazilian Companies

• Autor(a) principal: Brandt,Elisane
• Data de Publicação: 2021
• Outros Autores: Silva,Márcia Zanievicz da, Beck,Franciele
• Tipo de documento: Artigo
• Idioma: eng
• Título da fonte: RAC. Revista de Administração Contemporânea (Online)
• Texto Completo: http://old.scielo.br/scielo.php?script=sci_arttext&pid=S1415-65552021000600301
• topic: family business; F-PEC model; enterprise risk management; Brazilian businesses

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.