An Investigation of The Nomological Network of Enterprise Risk Management Effectiveness: The Roles of Transformational Leadership and Organizational Culture
| dc.contributor.advisor | Ogunfowora, Babatunde | |
| dc.contributor.author | Ogunsanya, Adedayo Samuel | |
| dc.contributor.committeemember | Kleffner, Anne | |
| dc.contributor.committeemember | Halek, Martin | |
| dc.contributor.committeemember | Turner, Nick | |
| dc.contributor.committeemember | Pilbeam, Colin | |
| dc.date | 2025-06 | |
| dc.date.accessioned | 2025-01-06T22:48:51Z | |
| dc.date.available | 2025-01-06T22:48:51Z | |
| dc.date.issued | 2025-01-06 | |
| dc.description.abstract | Finance and accounting scholars have largely relied on quantitative models based on archival data to study enterprise risk management (ERM) implementation, frequently neglecting key dimensions of organizational behaviour. To address this gap, this dissertation applies a transdisciplinary approach to investigate how the transformational leadership of the chief risk officer (CRO), the consistency of the risk management culture, and the group potency of the risk management team (i.e., whether members collectively believe that their team can be effective) contribute to ERM effectiveness. Based on survey responses from 449 risk managers and executives across financial institutions in North America, Europe, Africa and Asia, covariance-based structural equation modelling was applied to assess the effects of the independent variables on both subjective and objective measures of effective ERM. The results indicate that the chief risk officer’s transformational leadership, the consistency of the risk management culture, and the group potency of the risk management team have positive direct effects on subjective indicators of an organization’s ERM effectiveness. While the direct effect of the group potency of the risk management team on objective indicators of ERM effectiveness is significant, the direct effect of the chief risk officer’s transformational leadership is positive but not significant. Mediation analysis reveals that the consistency of the risk management culture and the group potency of the risk management team significantly positively and sequentially mediate the relationships between the chief risk officer’s transformational leadership and effective ERM. In other words, organizations with transformational CROs are more likely to have effective ERM programs because they positively influence consistent risk management cultures and the group potency of their risk management teams. These insights contribute to the theoretical understanding of ERM and offer practical guidance for enhancing its implementation in financial institutions. | |
| dc.identifier.citation | Ogunsanya, A. S. (2025). An investigation of the nomological network of enterprise risk management effectiveness: the roles of transformational leadership and organizational culture (Doctoral thesis, University of Calgary, Calgary, Canada). Retrieved from https://prism.ucalgary.ca. | |
| dc.identifier.uri | https://hdl.handle.net/1880/120362 | |
| dc.language.iso | en | |
| dc.publisher.faculty | Graduate Studies | |
| dc.publisher.institution | University of Calgary | |
| dc.rights | University of Calgary graduate students retain copyright ownership and moral rights for their thesis. You may use this material in any way that is permitted by the Copyright Act or through licensing that has been assigned to the document. For uses that are not allowable under copyright legislation or licensing, you are required to seek permission. | |
| dc.subject | Enterprise risk management | |
| dc.subject | Organizational Culture | |
| dc.subject | Transformational Leadership | |
| dc.subject | Group Potency | |
| dc.subject.classification | Business Administration--Management | |
| dc.title | An Investigation of The Nomological Network of Enterprise Risk Management Effectiveness: The Roles of Transformational Leadership and Organizational Culture | |
| dc.type | doctoral thesis | |
| thesis.degree.discipline | Business, Haskayne School of Business | |
| thesis.degree.grantor | University of Calgary | |
| thesis.degree.name | Doctor of Business Administration (DBA) | |
| ucalgary.thesis.accesssetbystudent | I require a thesis withhold – I need to delay the release of my thesis due to a patent application, and other reasons outlined in the link above. I have/will need to submit a thesis withhold application. |