Enterprise risk management comparison of Turkey and Serbia

In recent years, emerging developments in the world of business and economics, financial markets processes in the development of communication technology investor and customer requests in conjunction with the company due to the increase of the global financial and economic crisis of 2008 and fraud and bankruptcy situations, such as existing risk management have caused changes in their shapes. The lack of a traditional understanding of Risk Management (GRY) in managing the risks faced by enterprises while continuing their activities has raised the issue of Corporate Risk Management (CRM), which is today's form of risk management. KRY is a risk management process that takes into account all the risks faced by enterprises, is applied throughout the enterprise, evaluates the threat and opportunity side of the risk together, and provides reasonable assurance in the realization of business objectives. In this study, the effect of KRY on the financial performance of companies and the determinants of KRY were tried to be determined. This study was aimed to determine the effects of KRY (ERM) applications on firm performances in Turkey and Serbia as well as to determine the factor's effectiveness of KRY(ERM) activities. For this purpose, a survey was conducted in both countries. Questions mentioned in the survey were designed with a purpose to reach information about KRY(ERM) understanding, the effectiveness of its activities, benefits of the two countries. İnformations that were collected through survey helped us to make comments and comparisons between these two countries. Frequencies, factor, and regression data were analyzed wıth SPSS 26 and Microsoft Excel programs. Questions that took a place in the survey could be divided into demographic and KRY(ERM) related questions. Key Words: Risk Management, Corporate Risk Management, Firm Performance, Activities Effectiveness, Serbia, Turkey.