Economics and Business
Quarterly Reviews
ISSN 2775-9237 (Online)
Published: 28 June 2021
Emerging Innovation Risk Management in Financial Institutions of United States
Sharif M. Abu Karsh
Arab American University
Download Full-Text Pdf
10.31014/aior.1992.04.02.360
Pages: 245-252
Keywords: Innovation, Risk management, Technology
Abstract
Financial institution within the USA is faced with great challenge of risk management, hence the pursuit of every financial institution to come up with better innovative ways of managing risks. However, the emerging innovation in risk management in financial institution has an underlying negative implication which is yet to be studied. The aim of this research was to explore emerging innovation in risk management in financial institutions. The research utilized qualitative research design, through an intensive literature review that involved deep research and reviewing of academic scholarly academic articles. This type of approach ensures that the research includes wide variety of sources that support this research and making it viable for future reference. Results showed that the emerging innovation in risk management in financial institutions is digital financing. Owing to the associated implication of excessive technology use, the research suggests that financial institutions should be very cautious, particularly with the associated risk of cybercrime.
References
Arévalo, T.J. (2015). Financial and Economic Risk: Empirical Evidence from the Spanish Construction Sector from 2003 to 2013, Universal Journal of Accounting and Finance, vol. 9, no. 2, pp. 145-159, 2021.
Johnson, K. N. (2015). Cyber risks: Emerging risk management concerns for financial institutions. Ga. L. Rev., 50, 131.
Schwarcz, S. L. (2008). Systemic risk. Geo. Lj, 97, 193.
Fadun, O. S. (2013). Risk management and risk management failure: Lessons for business enterprises. International Journal of Academic Research in Business and Social Sciences, 3(2), 225.
Barton, T. L., Shenkir, W. G., & Walker, P. L. (2002). Making enterprise risk management pay off. FT Press.
Coffee Jr, J. C. (2013). Extraterritorial financial regulation: Why ET can’t come home. Cornell L. Rev., 99, 1259.
Barton, T. L., Shenkir, W. G., & Walker, P. L. (2002). Making enterprise risk management pay off. FT Press.
Onafalujo, A., & Eke, P. (2012). Influence of enterprise risk management on competitive advantage in the Nigerian manufacturing sector. International Journal of Management Science, 3(3), 95-101.
Demirguc-Kunt, A., Klapper, L., & Singer, D. (2017). Financial inclusion and inclusive growth: A review of recent empirical evidence.
Harelimana, J. B. (2017). Impact of mobile banking on financial performance of Unguka Microfinance Bank Ltd, Rwanda. Global Journal of Management and Business Research.
Coffee Jr, J. C. (2013). Extraterritorial financial regulation: Why ET can’t come home. Cornell L. Rev., 99, 1259.
Mishchenko, S., Naumenkova, S., Mishchenko, V., & Dorofeiev, D. (2021). Innovation Risk Management in Financial Institutions.
Naumenkova, S., Mishchenko, S., & Dorofeiev, D. (2019). Digital financial inclusion: Evidence from Ukraine. Investment Management and Financial Innovations, 16(3), 194-205. https://doi.org/10.21511/imfi.16 (3).2019.18
Planesa, B., Bardosa, M., Sevestreb, P., & Avouyi-Dovib, S. (2001). Innovation: Financing and Financing Constraints. Retrieved from https://www.bis.org/publ/cgfs19bdf3.pdf
Abu Karsh, Sharif, M.& Abbadi, Suleiman M. (2013). Methods of Evaluating Credit Risk used by Commercial Banks in Palestine, International Research Journal of Finance and Economics, Issue 111