"Guest editorial: From theoretical framing to empirical testing in risk governance research: moving the field forward"
, in Management Research Review, Vol. 42, Nummer 11, Seite(n) 1217-1223, 11-2019, ISSN: 2040-8269
Guest editorial: From theoretical framing to empirical testing in risk governance research: moving the field forward
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The recent financial crisis showed that traditional approaches to risk management could not effectively deal with the significant risks that threatened the existence of many financial institutions and other businesses. A more holistic and strategic alternative to risk management may be risk governance (Stein and Wiedemann, 2016). Risk governance at the organizational level may bridge the gap between the ?institutionally oriented field of corporate governance and the methodologically oriented area of risk management? (Baule and Fandel, 2016, p. 809). While the origins of risk governance can be found in the socio-political area (Renn, 2008; van Asselt and Renn, 2011), its economic application to corporations has recently received increased attention by researchers. However, such research remains at an early stage. In particular, while some important theoretical framing of risk governance has been performed (Cohen, 2015; Stein and Wiedemann, 2016), further conceptual work is needed and empirical research on risk governance is scant so far (but see some exceptions such as Aebi et al., 2012; Agarwal and Kallapur, 2018; Lundqvist, 2015; Mongiardino and Plath, 2010; Stein and Wiedemann, 2018). Owing to this dearth of the literature, the present special issue of the management research review aims to shed more light on framing and empirically examining risk governance.
This special issue originates from the 6th Annual Conference on Risk Governance held in October 2018 at the University of Siegen, Germany and the risk governance research group at this school. Earlier editions of this conference focused on more general applications of risk governance in practice and led to a number of special issues (see the guest editorials by Baule and Fandel, 2016; Hiebl et al., 2018a, 2018b). The 2018 edition of the conference focused on the theme of this special issue and several papers presented there have been selected for publication herein.