Operational risk and family business elements/Riesgo operacional y elementos de la empresa familiar

Operational Risk has been one of the most important risks to be regulated nowadays among companies. There are several factors that can impact this kind of risk; one of them is Family Business elements. By using a Bayesian framework these elements were taken into account to defined possible causality...

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Bibliographic Details
Published in:Panorama Economica 2020-07, Vol.16 (31), p.179
Main Authors: Rivas-Aceves, Salvador, Dávila-Aragón, Griselda, Castillo-Ramírez, Claudia Estrella
Format: Article
Language:English
Online Access:Get full text
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Summary:Operational Risk has been one of the most important risks to be regulated nowadays among companies. There are several factors that can impact this kind of risk; one of them is Family Business elements. By using a Bayesian framework these elements were taken into account to defined possible causality relations between them and operational risk. In order to so a set of Mexican family companies with different sizes were considered, a set of experts from those companies was selected, Family Business elements that might impact were defined and a Bayesian Network for each type of company was characterized. Results are: 1) There are family business theoretical elements that impact on Operational risk, 2) The higher the presence of family elements within companies the lower the Operational Risk is, 3) There is an specific organizational structure depending on a company size that is in accordance with an specific Bayesian Network for measuring Operational Risk when Family Business elements are considered.
ISSN:1870-2171