How does LG Group embed enterprise risk management(ERM) system in its conglomerate governance to control its affiliated firms' risk events?
- Authors
- 유정민
- Issue Date
- 2-May-2017
- Publisher
- JABR,The Clute Instute
- Citation
- The Journal of Applied Business Research, v.33, no.3, pp.637 - 652
- Journal Title
- The Journal of Applied Business Research
- Volume
- 33
- Number
- 3
- Start Page
- 637
- End Page
- 652
- URI
- https://scholarworks.bwise.kr/hongik/handle/2020.sw.hongik/5823
- Abstract
- This paper presents a case of enterprise risk management (ERM) embeddedness in LG Group, globalized conglomerate in Korea. Findings are differentiated from prior studies in two aspects. First, this study focuses on how ERM systems minimize the agency costs between conglomerate headquarters and its affiliated firms. Second, cases of diversified twelve affiliated firms find that COSO ERM framework are to be applied adaptively to entities’ inherent or external conditions as industry, age, management level etc. Those findings might be a practical guidance for most Asian business groups to embed ERM frameworks in conglomerate governances, filling gaps between theoretical COSO manual and practical applications.
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Collections - College of Business Management > Accounting Major > 1. Journal Articles
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