The Trend of Risk Management Research and Practice in Taiwan

The recent development of risk management expands its scope from risk control to general business operations and strategies. Risk management is now treated as a strategic management process whereby the firm searches for new advantages through risk-taking. This paper summarizes recent academic research and business practice of risk management in Taiwan to share the development experience of this field in the past decade. By way of real case sand empirical evidences, this paper comments on the differences in external environments and their impacts on risk management between the U.S. and Taiwan. This paper suggests that future research should incorporate the social/cultural factors in the study for managing risks of an enterprise.