The aim of this research is to examine the evolvement of enterprise risk management (ERM) in Sweden. We examine how the Swedish legal and self-regulatory framework influences ERM development. We examine the impact of ERM research on practice, the professionalization of ERM facilitated by professional bodies and associations, and its promotion by the evolvement of principles and practices. This research is based on interviews with national experts 1 at the policy level as well as four field visits to large Swedish organizations in order to deepen our understanding of ERM integration with corporate governance, accounting, and disclosures. We find that: There is no obvious misalignment between the legal and self-regulatory framework and ERM practices in organizations; ERM is more integrated with disclosures than with governance and accounting practices; decentralized organizations experience more difficulty in integrating ERM compared to centralized organizations; no tensions were evident between compliance and business partnering in the four field visits, enabling ERM integration; regulation can be useful in promoting minimum standards for ERM integration. This study adds to our understanding of ERM integration and the role of unique governing contracts in linking profitability, growth and risk from an ERM perspective. It also deepens our understanding of ERM integration as a multidimensional construct.
The research reported in this chapter is funded by The Jan Wallander and Tom Hedelius Foundation, and the Tore Browaldh Foundation, project number P18-0224.
Crawford, J. and Nilsson, F. (2021), "Enterprise Risk Management in Sweden", Maffei, M. (Ed.) Enterprise Risk Management in Europe, Emerald Publishing Limited, Bingley, pp. 211-226. https://doi.org/10.1108/978-1-83867-245-420211012
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