How to cite this paper
Phan, T., Dang, T., Nguyen, T., Ngo, T & Hoang, T. (2020). The effect of enterprise risk management on firm value: Evidence from Vietnam industry listed enterprises.Accounting, 6(4), 473-480.
Refrences
Allayannis, G., & Weston, J. P. (2001). The use of foreign currency derivatives and firm value. The Review of Financial Studies, 14, 243–276.
Allayannis, G., Lel, U., & Miller, D. P. (2012). The use of foreign currency derivatives, corporate governance, and firm value around the world. Journal of International Economics, 87(1), 65–79.
Anton, S. G. (2018). The impact of enterprise risk management on firm value: Empirical evidence from romanian non-financial firms. Inzinerine Ekonomika-Engineering Economics, 29(2), 151-157.
Aretz, K., Bartram, S. M., & Dufey, G. (2007). Why hedge? Rationales for corporate hedging and value implications. Journal of Risk Finance, 8(5), 434–449.
Bartram, S. M., Brown, G. W., & Conrad, J. (2011). The effects of derivatives on firm risk and value. Journal of Financial and Quantitative Analysis, 46(4), 967–999.
Baxter, R., Bedard, J. C., Hoitash, R., & Yezegel, A. (2013). Enterprise risk management program quality: Determinants, value relevance, and the financial crisis. Contemporary Accounting Research, 30, 1264–1295.
Beasley, M. S., Pagach, D., & Warr, R. (2008). Information conveyed in hiring announcements of senior executives overseeing enterprise-wide risk management processes. Journal of Accounting, Auditing and Finance, 23(3), 311–332.
Belghitar, Y., Clark, E., & Salma, M. (2013). Foreign currency derivative use and shareholder value. International Review of Financial Analysis, 29, 283–293.
Bertinetti, G. S., Cavezzali, E., & Gardenal, G. (2013). The Effect of the Enterprise Risk Management Implementation on the Firm Value of European Companies. Working Paper No. 10, Università Ca' Foscari Venezia, Italy.
Bessembinder, H. (1991). Forward contracts and firm value: investment incentive and contracting effects. Journal of Financial and Quantitative Analysis, 26, 519–532.
Bromiley, P., McShane, M., Nair, A., & Rustambekov, E. (2015). Enterprise risk management: Review, critique, and research directions. Long Range Planning, 48(4), 265-276.
Carter, D. A., Rogers, D. A., & Simkins, B. J. (2006). Does hedging affect firm value? Evidence from the US airline industry. Financial Management, 35, 53–86.
Colquitt, L. L., Hoyt, R. E., & Lee, R. B. (1999). Integrated risk management and the role of the risk manager. Risk Management and Insurance Review, 2(3), 43-61.
Eckles, D. I., Hoyt, R. E., & Miller, S. M. (2014). The impact of enterprise risk management on the marginal cost of reducing risk: Evidence from the insurance industry. Journal of Banking and Finance, 43, 247–261.
Farrell, M., & Gallagher, R. (2015). The Valuation Implications of Enterprise Risk Management Maturity. Journal Risk and Insurance, 82(3), 625–657.
Fauver, L., & Naranjo, A. (2010). Derivative usage and firm value: The influence of agency costs and monitoring problems. Journal of Corporate Finance, 16(5), 719–735.
Gordon, L. A., Loeb, M. P., & Tseng, C. Y. (2009). Enterprise risk management and firm performance: A contingency perspective. Journal of Accounting and Public Policy, 28(4), 301–327.
Grace, M. F., Leverty, J. T., Phillips, R. D., & Shimpi, P. (2015). The value of investing in enterprise risk management. The Journal of Risk and Insurance, 82(2), 289–316.
Guay, W., & Kothari, S. P. (2003). How much do firms hedge with derivatives?. Journal of Financial Economics, 80, 423– 461.
Hoyt, R., & Liebenberg, A. (2011). The value of enterprise risk management. Journal of Risk and Insurance, 78(4), 795– 822.
Hoyt, R., & Liebenberg, A. (2015). Evidence of the value of enterprise risk management. Journal of Applied Corporate Finance, 27(1), 41–47.
Jang, S. S., & Park, K. (2011). Inter-relationship between firm growth and profitability. International Journal of Hospitality Management, 30(4), 1027-1035.
Jin, Y., & Jorion, P. (2006). Firm value and hedging: Evidence from U.S. oil and gas producers. The Journal of Finance, 61, 893-919.
Lang, L. H., & Stulz, R. M. (1994). Tobin's q, corporate diversification, and firm performance. Journal of Political Economy, 102(6), 1248-1280.
McShane, M., Nair, A., & Rustambekov, E. (2011). Does enterprise risk management increase firm value?. Journal of Accounting. Auditing and Finance, 26(4), 641–658.
Milos Sprcic, D., Mesin Zagar, M., Sevic, Z., & Marc, M. (2016). Does enterprise risk management influence market value– A long-term perspective. Risk Management, 18(2/3), 18–65.
Modigliani, F., & Miller, M. H. (1958). The cost of capital, corporation finance and the theory of investment. American Economic Review, 48(3), 261–297.
Nance, D. R., Smith Jr., C. W., & Smithson, C. W. (1993). On the determinants of corporate hedging. Journal of Finance, 48, 267–284.
Nelson, J., Moffitt, J. S., & Affleck-Graves, J. (2005). The impact of hedging on the market value of equity. Journal of Corporate Finance, 11, 851–881.
Nocco, B., & Stulz, R. (2006). Enterprise risk management: Theory and practice. Journal of Applied Corporate Finance, 18(4), 8–20.
Nwamaka, O. C., & Ezeabasili, V. (2017). Effect of dividend policies on firm value: Evidence from quoted firms in Nigeria. International Journal of Management Excellence, 8(2), 956-967.
Panaretou, A. (2014). Corporate Risk Management and Firm Value: Evidence from the UK Market. The European Journal of Finance, 20(12), 1161–1186.
Pagach, D. P., & Warr, R. S. (2010). The effects of enterprise risk management on firm performance. Working Paper, Social Science Research Network. Available at SSRN.
Setiadharma, S., & Machali, M. (2017). The effect of asset structure and firm size on firm value with capital structure as intervening variable. Journal of Business & Financial Affairs, 6(4), 1-5.
Smith, C. W., & Stulz, R. (1985). The determinants of firms' hedging policies. Journal of Financial and Quantitative Analysis, 20(14), 391–405.
Tas, O., & Ede, S. (2018). The effect of capital structure on the value of firm. A study of Turkey non-metal product index. PressAcademia Procedia, 8(1), 34-37.
Zou, H. (2010). Hedging affecting firm value via financing and investment: evidence from property insurance use. Financial Management, 39(3), 965-996.
Allayannis, G., Lel, U., & Miller, D. P. (2012). The use of foreign currency derivatives, corporate governance, and firm value around the world. Journal of International Economics, 87(1), 65–79.
Anton, S. G. (2018). The impact of enterprise risk management on firm value: Empirical evidence from romanian non-financial firms. Inzinerine Ekonomika-Engineering Economics, 29(2), 151-157.
Aretz, K., Bartram, S. M., & Dufey, G. (2007). Why hedge? Rationales for corporate hedging and value implications. Journal of Risk Finance, 8(5), 434–449.
Bartram, S. M., Brown, G. W., & Conrad, J. (2011). The effects of derivatives on firm risk and value. Journal of Financial and Quantitative Analysis, 46(4), 967–999.
Baxter, R., Bedard, J. C., Hoitash, R., & Yezegel, A. (2013). Enterprise risk management program quality: Determinants, value relevance, and the financial crisis. Contemporary Accounting Research, 30, 1264–1295.
Beasley, M. S., Pagach, D., & Warr, R. (2008). Information conveyed in hiring announcements of senior executives overseeing enterprise-wide risk management processes. Journal of Accounting, Auditing and Finance, 23(3), 311–332.
Belghitar, Y., Clark, E., & Salma, M. (2013). Foreign currency derivative use and shareholder value. International Review of Financial Analysis, 29, 283–293.
Bertinetti, G. S., Cavezzali, E., & Gardenal, G. (2013). The Effect of the Enterprise Risk Management Implementation on the Firm Value of European Companies. Working Paper No. 10, Università Ca' Foscari Venezia, Italy.
Bessembinder, H. (1991). Forward contracts and firm value: investment incentive and contracting effects. Journal of Financial and Quantitative Analysis, 26, 519–532.
Bromiley, P., McShane, M., Nair, A., & Rustambekov, E. (2015). Enterprise risk management: Review, critique, and research directions. Long Range Planning, 48(4), 265-276.
Carter, D. A., Rogers, D. A., & Simkins, B. J. (2006). Does hedging affect firm value? Evidence from the US airline industry. Financial Management, 35, 53–86.
Colquitt, L. L., Hoyt, R. E., & Lee, R. B. (1999). Integrated risk management and the role of the risk manager. Risk Management and Insurance Review, 2(3), 43-61.
Eckles, D. I., Hoyt, R. E., & Miller, S. M. (2014). The impact of enterprise risk management on the marginal cost of reducing risk: Evidence from the insurance industry. Journal of Banking and Finance, 43, 247–261.
Farrell, M., & Gallagher, R. (2015). The Valuation Implications of Enterprise Risk Management Maturity. Journal Risk and Insurance, 82(3), 625–657.
Fauver, L., & Naranjo, A. (2010). Derivative usage and firm value: The influence of agency costs and monitoring problems. Journal of Corporate Finance, 16(5), 719–735.
Gordon, L. A., Loeb, M. P., & Tseng, C. Y. (2009). Enterprise risk management and firm performance: A contingency perspective. Journal of Accounting and Public Policy, 28(4), 301–327.
Grace, M. F., Leverty, J. T., Phillips, R. D., & Shimpi, P. (2015). The value of investing in enterprise risk management. The Journal of Risk and Insurance, 82(2), 289–316.
Guay, W., & Kothari, S. P. (2003). How much do firms hedge with derivatives?. Journal of Financial Economics, 80, 423– 461.
Hoyt, R., & Liebenberg, A. (2011). The value of enterprise risk management. Journal of Risk and Insurance, 78(4), 795– 822.
Hoyt, R., & Liebenberg, A. (2015). Evidence of the value of enterprise risk management. Journal of Applied Corporate Finance, 27(1), 41–47.
Jang, S. S., & Park, K. (2011). Inter-relationship between firm growth and profitability. International Journal of Hospitality Management, 30(4), 1027-1035.
Jin, Y., & Jorion, P. (2006). Firm value and hedging: Evidence from U.S. oil and gas producers. The Journal of Finance, 61, 893-919.
Lang, L. H., & Stulz, R. M. (1994). Tobin's q, corporate diversification, and firm performance. Journal of Political Economy, 102(6), 1248-1280.
McShane, M., Nair, A., & Rustambekov, E. (2011). Does enterprise risk management increase firm value?. Journal of Accounting. Auditing and Finance, 26(4), 641–658.
Milos Sprcic, D., Mesin Zagar, M., Sevic, Z., & Marc, M. (2016). Does enterprise risk management influence market value– A long-term perspective. Risk Management, 18(2/3), 18–65.
Modigliani, F., & Miller, M. H. (1958). The cost of capital, corporation finance and the theory of investment. American Economic Review, 48(3), 261–297.
Nance, D. R., Smith Jr., C. W., & Smithson, C. W. (1993). On the determinants of corporate hedging. Journal of Finance, 48, 267–284.
Nelson, J., Moffitt, J. S., & Affleck-Graves, J. (2005). The impact of hedging on the market value of equity. Journal of Corporate Finance, 11, 851–881.
Nocco, B., & Stulz, R. (2006). Enterprise risk management: Theory and practice. Journal of Applied Corporate Finance, 18(4), 8–20.
Nwamaka, O. C., & Ezeabasili, V. (2017). Effect of dividend policies on firm value: Evidence from quoted firms in Nigeria. International Journal of Management Excellence, 8(2), 956-967.
Panaretou, A. (2014). Corporate Risk Management and Firm Value: Evidence from the UK Market. The European Journal of Finance, 20(12), 1161–1186.
Pagach, D. P., & Warr, R. S. (2010). The effects of enterprise risk management on firm performance. Working Paper, Social Science Research Network. Available at SSRN.
Setiadharma, S., & Machali, M. (2017). The effect of asset structure and firm size on firm value with capital structure as intervening variable. Journal of Business & Financial Affairs, 6(4), 1-5.
Smith, C. W., & Stulz, R. (1985). The determinants of firms' hedging policies. Journal of Financial and Quantitative Analysis, 20(14), 391–405.
Tas, O., & Ede, S. (2018). The effect of capital structure on the value of firm. A study of Turkey non-metal product index. PressAcademia Procedia, 8(1), 34-37.
Zou, H. (2010). Hedging affecting firm value via financing and investment: evidence from property insurance use. Financial Management, 39(3), 965-996.