Risk management committees (RMCs) are recognised as a key corporate governance mechanism for controlling corporate risk. We examine the performance of RMCs in Australia over the period 2007–2014. We identify three performance measures related to the function of the RMC: the probability of financial distress, growth options (market to book) and return on assets. We find that firms with an RMC perform better than other firms. We also find that firms with a separately constituted RMC perform better, relative to firms where the risk management activities are absorbed into an existing committee.

JEL classification: G32, G33, G34, G38

中文翻译：

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风险管理委员会和公司绩效

风险管理委员会（RMC）被视为控制公司风险的关键公司治理机制。我们研究了2007-2014年间澳大利亚RMC的表现。我们确定了与RMC功能相关的三种绩效指标：财务困境的可能性，增长选择（市场到账面）和资产收益率。我们发现拥有RMC的公司的绩效要优于其他公司。我们还发现，相对于风险管理活动被纳入现有委员会的公司而言，拥有单独组成的RMC的公司表现更好。

JEL分类：G32，G33，G34，G38