Risks Management and Corporate Performance of Business Enterprises in Jalingo Local Government, Taraba State

Journal of Economics and Business

ISSN 2615-3726 (Online)

ISSN 2621-5667 (Print)

Published: 23 September 2019

Risks Management and Corporate Performance of Business Enterprises in Jalingo Local Government, Taraba State

Jerome Nyameh, Dinatu Sunday, Victor Timothy

Taraba State University Jalingo, Nigeria

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10.31014/aior.1992.02.03.144

Pages: 975-982

Keywords: Risk Management, Corporate Performance, Jalingo, and Taraba State

Abstract

This study evaluated the relationship between risk management and corporate performance of Twenty (20) organization register with CAC in Jalingo Taraba state because Risk Management is an integrated framework and monitoring tool for managing uncertainties surrounding the business objectives. To achieve that, this objective was formulated. To provide empirical evidence of the extent to which RM framework has impacted performance in the business sector in Jalingo. The independent variables used were existence of risk management committee, the existence of financial expertise, the existence of audit committee, existence of Chief risk officer, and board size. The study data were sourced from annual reports and accounts of the selected enterprises. The collated data were analyzed using descriptive statistics and correlation matrix. The results reveal that risk management committee, financial expertise, audit committee, and board size have significant positive effect on performance. The result also shows that the existence of chief risk officer has a significant negative effect on performance. The study, therefore, recommended that the regulatory authorities and other relevant institutions are enjoined to reassess their supervisory role with the view to strengthen the RM process and taking the issue of risk management seriously at every level of organizations to provide reasonable assurance.

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