Integrated risk management and corporate governance In medium sized family managed Companies
Research Aim
The research aims to study the role and importance of Integrated Risk Management and Corporate Governance in mitigating the risk of Family Managed Medium Sized Listed Companies.
Objective of the Study
The Objectives of the study on ‘Integrated Risk Management and Corporate Governance in Family Managed Medium Sized Listed Companies’ are:
- To analyse the risk disclosure to small and medium sized family managed listed firms and their ability for risk tolerance.
- To examine the prevailing risk management framework in the family managed
companies and the role and responsibilities of Board in recognising, observing and supervising the risk management system in these companies
- To evaluate the competence of risk management procedures in family managed SME companies based on the certain benchmarks resulting from professionally managed companies.
- To endorse cost-effective practices according to corporate governance to design an appropriate risk management and internal control framework, to generate a risk management atmosphere which supports anticipation and mitigate various types of risks faced by the company.
Research Questions
1) What are the measures taken by medium sized family managed to manage their risks?
2) How is the risk management system maintained by medium-sized family firms?
3) How are risk and performance balanced by medium sized family firms?
4) What role does new information technology play is risk mitigation of medium- sized family firms?
Rationale for choosing mixed research approach for current study
The current study titled “Integrated risk management and corporate governance in Medium Sized Family Managed Companies” aims to study the role and importance of Integrated Risk Management and Corporate Governance in mitigating the risk of Family Managed Medium Sized Listed Companies. This study will use mixed method approach. The research involves examination of prevalent risk management system, competency of risk management procedures explore various cost effective practices are used to design cost-effective risk management atmosphere and analyse the risk disclosure to small and medium sized family and their ability to tolerate risk. So there are aspects where the experience of SME is studied here
qualitative method is suitable. The information regarding the level of risk appetite or risk tolerance etc. can also be gathered by qualitative approach. However, the qualitative data collected in the form of responses than will be quantified to make interpretations, and logical conclusions will be further drawn out of this analysis. The research uses the in-depth interview to gather qualitative data.
Solution
Conclusion
The most common argument presented by the researcher that qualitative and quantitative approach is completely different as they use paradigms that are fundamentally different to each other. The views of these researchers come under two forms. Some researchers support only one type of research methodology and consider another type of methodology as inappropriate or even sin. Other researchers consider qualitative and quantitative approaches as options that are right in its way and choosing between the two alternatives is the matter of researcher’s choice and individual preferences.
