Enterprise Risk Management Applications at Bist-Istanbul Non-Financial Companies

Turkey has made great strides towards increasing international competitiveness and aims to adapt to the international risk management platforms to further its national economic policy. Risk management would serve to the corporates to run their business in optimum level, to reduce the chance of the hazards, to protect the resources and to improve the image. The purpose of this study is to investigate the inherent risks plaguing non-financial companies in Turkey and the risk management behavior and insurance approach undertaken in order to combat these important risks. The analysis consists of survey questions generated via appropriate risk management literature and reports from the Federation of European Risk Management Associations and Risk & Insurance Management Society. The sample consisted of 59 high level Risk Managers from publicly available non-financial firms on BIST, 20 of which were included under top 100 of ISO 500 by 2017.