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Most non-financial companies in Greece do not have an ERM function nor present one in their organizational charts. The enterprise risk management is still more theory than practice even for companies that have embraced it so far, and in general the enterprise risk management seems to be at its infancy in Greece with only some prominent and mature organizations showing the way forward. The aim of this study is to provide some reflections about risk disclosure in annual reports and accounting practices in Greece. Although companies in Greece do seem reluctant to apply ERM, during last years, non-financial information demonstrated to emerge within financial statements and annual reports, giving a broader perspective to risk.

Post-crisis policy measures in Asia have focussed on banking sector and market reform. The paper argues that in order to propel growth, banking and market reform in Asia must be undertaken with the view that they are not mutually exclusive competitive tradeoffs. Rather banks and markets must be viewed as complementary supportive pillars in a financial system. Additionally, legal and functional reform must be undertaken simultaneously. The paper proposes that a likely consequence of doing so will enable creating a four-pillared multi-dimensional growth paradigm in the region to help restore and promote growth.

Due to climate change and an increasing concentration of the world’s population in vulnerable areas, how to manage catastrophe risk efficiently and cover disaster losses fairly is still a universal dilemma.

This paper applies a law and economic approach.

China’s mechanism for managing catastrophic disaster risk is in many ways unique. It emphasizes government responsibilities and works well in many respects, especially in disaster emergency relief. Nonetheless, China’s mechanism which has the vestige of a centrally planned economy needs reform.

I propose a catastrophe insurance market-enhancing framework which marries the merits of both the market and government to manage catastrophe risks. There are three pillars of the framework: (i) sustaining a strong and capable government; (ii) government enhancement of the market, neither supplanting nor retarding it; (iii) legalizing the relationship between government and market to prevent government from undermining well-functioning market operations. A catastrophe insurance market-enhancing framework may provide insights for developing catastrophe insurance in China and other transitional nations.

First, this paper analyzes China’s mechanism for managing catastrophic disaster risks and China’s approach which emphasizes government responsibilities will shed light on solving how to manage catastrophe risk efficiently and cover disaster losses fairly. Second, this paper starts a broader discussion about government stimulation of developing catastrophe insurance and this framework can stimulate attention to solve the universal dilemma.

Since the financial crisis of 2008, legislation and rules affecting the financial market in Iceland have been strengthened considerably. Tougher capital requirements, detailed and frequent reporting, more thorough fit-and-proper tests, barriers to connected lending and strict limits on bonus payments are but a few examples. Similarly, the supervision of banks has been upgraded markedly. It is now much more intrusive and forward-looking than before, that is, it is more focused on governance and the business model. Many of these reforms are based on international initiatives, such as the Basel III standard, while others are particular to Iceland. The main objective of these reforms is to strengthen the resilience of the banking sector and limit the negative effects on consumers of harmful enterprise incentives. Trust in the financial system collapsed as a consequence of the crisis but is recovering only slowly. This apparent lack of confidence is reflected only to a limited extent in firms’ and households’ willingness to seek banking services. This raises the questions of how to appropriately measure trust, and what factors influence it. Iceland may turn out to be an interesting natural experiment in this respect. It has a unique record of prosecuting and sentencing bankers for offences that are hardly worthy of administrative fines in some other countries – but whether strict accountability is the recipe for rebuilding trust remains to be seen.

The aim of this study is to investigate whether and how Spanish listed companies adopt formalized and integrated models of risk management during the period 2016–2018 and disclose them inside annual reports. Such investigation rebuilds the international regulatory and self-regulatory framework about risk management and examines the pressures and constraints influencing the adoption and implementation of ERM model in Spain. Indeed, the instability and uncertainty of the global macroeconomic context and the new threats to the corporate profitability and survival are now contributing to the development of a new dimension of risk management system more updated, dynamic and integrated. The results of the content analysis on ERM disclosure in annual reports show that Spanish listed companies are not equipped with structured and integrated risk management systems and their risk management approach is not aligned with any ERM framework. Notwithstanding, the Spanish companies are taking remarkable steps to strengthen the risk management systems towards a higher level of integration and systematization.

Up until recent years, all agricultural production in Norway was strictly regulated through spatial policy (location), production quotas and other price and market regulations. Prices and products were handled by the farmers’ cooperatives. International (e.g. WTO agreements) and domestic pressure has gradually loosened the governmental regulation of chicken and eggs. Economic (e.g. new ownerships), technological (innovations throughout the whole chain), political and institutional (liberalization) and cultural (e.g. in consumption and farming) changes have reconfigured the landscapes of chicken meat production, opening up new opportunities for the chicken industry. Chicken therefore makes a particularly good case for exploring recent major changes in the agri-food system. In this chapter, we investigate evolving rules, risks, challenges and opportunities in and around chicken meat value chains. Empirically, we build on interviews, document studies and statistics on the structural development of the chicken industry and we discuss how these changes are developing in other parts of the Norwegian agri-food system.

The purpose of this chapter is to develop a framework that can be used to study the impact of multinational enterprises (MNEs) on sustainable development and poverty alleviation in developing countries. In the 3-year project awarded by the EC-FP7 program, six universities from Europe and three partners from developing countries participated: Brazil, Ghana, and India. For this purpose, a thorough literature review is done and a framework is presented. To confirm the conceptual framework, we performed several case studies with three MNEs in two countries, Ghana and India. Data collection was done through qualitative in-depth interviews with managers in the headquarters of MNEs, the subsidiaries, and the “linked” local firms and host governments. Results confirm our conceptual model that the autonomy of the subsidiary, strategies of MNEs, and local government policies play a major role in achieving positive externalities from MNE operations in developing countries. The key contribution of this study is the development of a relevant conceptual framework that can be used in the overall project. Our study confirms that an interaction between the MNE subsidiary and the local government is essential for the linkages and spillovers to occur that may benefit local economic development and poverty reduction in developing countries.