Authors: Bernd Britzelmaier; Michael Häberle; Melanie Landwehr
Addresses: Pforzheim University, Tiefenbronner Str. 65, 75175 Pforzheim, Germany ' Pforzheim University, Tiefenbronner Str. 65, 75175 Pforzheim, Germany ' Pforzheim University, Tiefenbronner Str. 65, 75175 Pforzheim, Germany
Abstract: The present paper illustrates the specific features of risk management in German small and medium-sized enterprises (SMEs). Thereby, the aim is two-parted within the literature review and the quantitative as well as qualitative research. The former focuses on the reasons for German SMEs to apply risk management in the organisation, the latter refers to the actual level of implementation as well as the structure of risk management in German SMEs. Within the empirical analysis, a wide range of reasons for the application of risk management is revealed. However, risk management is mainly applied by large companies and still plays a minor role in German SMEs. Therefore, the present paper addresses a field with a considerable lack of previous research and provides a different in-depth view compared to the findings of predominantly undertaken studies in Germany.
Keywords: Germany; risk management; small and medium-sized enterprises; SMEs; risk identification; risk assessment; risk control; corporate governance; accounting standards.
International Journal of Entrepreneurship and Small Business, 2015 Vol.24 No.4, pp.548 - 571
Received: 24 Jan 2014
Accepted: 07 Oct 2014
Published online: 16 Mar 2015 *