Abstract
The integration between Enterprise Risk Management (ERM) and Performance Management System (PMS) has become a crucial process for managing environmental complexity in companies. In this context, in order to contribute to the research field, this paper follows two purposes: (1) to identify the most relevant risk dimensions, and connected risk drivers, perceived in managerial practices; and (2) to provide a suitable way to integrate ERM and PMS in supporting the strategic decision-making process. Based on semi-structured interviews with a total of 75 senior and middle managers from 25 different Italian companies, the authors developed a conceptual model to support the corporate transition to integrate ERM and PMS processes, built on a specific set of Key Risk Indicators (KRIs) that can enable them to achieve economically and environmentally sound performance.
Disclosure statement
No potential conflict of interest was reported by the author(s).
Notes
1 Online database containing financial, personal, and commercial information on over 500,000 joint-stock and financial companies in Italy.
2 Relying on indications for TA provided by Braun and Clarke (Citation2006): the themes represent the milestones guiding the investigation path event until formulation of the research questions, while the codes identify and accumulate common information gathered to be then assigned to one or more themes.
Additional information
Notes on contributors
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Ivo Hristov
Ivo Hristov, PhD, is an Assistant Professor in Business Management and Accounting at the University of Rome Tor Vergata, Italy. His research areas include Accounting, Performance Management, Sustainable Strategies, Planning and Control. He is keen on integrating qualitative measures to performance management literature. In Rome, he teaches Performance Management, Financial Accounting and Managerial Accounting.
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Riccardo Camilli
Riccardo Camilli is a PhD Candidate in Business Management and Accounting at the University of Rome Tor Vergata, Italy. His research is focused on Performance Management and Behavioural issues in Accounting. In Rome, he is teaching assistant in courses of Financial Analysis and Performance Management.
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Antonio Chirico
Antonio Chirico, PhD, is an Associate Professor of Accounting at the University of Rome Tor Vergata, Italy. His research interests are on Performance Analysis, Planning and Management Control of companies and public administrations. In Rome, he teaches Accounting and Planning and Control, and he is Director of the Master in Budget, Audit and Controls in Public Administrations.
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Alessandro Mechelli
Alessandro Mechelli, PhD, is a Full Professor of Accounting and Director of the Department of Management and Law at the University of Rome Tor Vergata, Italy. His research examines themes of Risk Management, Value Relevance, Accounting Quality and Cost Accounting. In Rome, he teaches Financial Accounting, Financial Analysis and Auditing techniques.