An Investigation the Impact of Enterprise Risk Management on Financial Performance, Value and Stocks Risk of Companies: Moderated Approach of Corporate Governance

Enterprise risk management is an elixir for organizational bottlenecks because it helps managers to be in the right decision position, in line with the risk to improve the performance and increase the value of the company and its disclosure as a positive signal for investors to evaluate the company's vision and recognizing enterprise risk management is an important step in transforming a business unit.This study seeks to investigate the effect of enterprise risk management on financial performance, value and stock risk of companies with a corporate governance adjustment approach. In order to achieve this goal, strategic, operational, reporting and compliance risk management criteria were used to identify enterprise risk management. financial information of the statistical population of the research, companies accepted in the Iranian capital market to collect research hypotheses of a sample of 90 manufacturing companies during the period 2011-2019 and structural equation modeling method Based on partial least squares (PLS) was used to analyze the data. The results show that business risk management has a positive and significant effect on financial performance and firm value, but enterprise risk management has no effect the firm stock risk. Furthermore, the findings of the research indicate that corporate governance is not moderating role on the relationship between enterprise risk management and financial performance, stock risk and firm value.