Dutch Journal of Finance and Management

Risk governance in the textile/clothing industry: A case study in medium enterprises
Maria Antonia Nuñez 1 * , Eduart Villanueva 1, Luisa Giraldo 1, Leidy Gomez 1, Yomar Castaño 1
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1 School of Management, EAFIT University, Medellin, Colombia
* Corresponding Author
Research Article

Dutch Journal of Finance and Management, 2023 - Volume 6 Issue 2, Article No: 25191
https://doi.org/10.55267/djfm/14137

Published Online: 30 Dec 2023

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How to cite this article
APA 6th edition
In-text citation: (Nuñez et al., 2023)
Reference: Nuñez, M. A., Villanueva, E., Giraldo, L., Gomez, L., & Castaño, Y. (2023). Risk governance in the textile/clothing industry: A case study in medium enterprises. Dutch Journal of Finance and Management, 6(2), 25191. https://doi.org/10.55267/djfm/14137
Vancouver
In-text citation: (1), (2), (3), etc.
Reference: Nuñez MA, Villanueva E, Giraldo L, Gomez L, Castaño Y. Risk governance in the textile/clothing industry: A case study in medium enterprises. DUTCH J FINANCE MANA. 2023;6(2):25191. https://doi.org/10.55267/djfm/14137
AMA 10th edition
In-text citation: (1), (2), (3), etc.
Reference: Nuñez MA, Villanueva E, Giraldo L, Gomez L, Castaño Y. Risk governance in the textile/clothing industry: A case study in medium enterprises. DUTCH J FINANCE MANA. 2023;6(2), 25191. https://doi.org/10.55267/djfm/14137
Chicago
In-text citation: (Nuñez et al., 2023)
Reference: Nuñez, Maria Antonia, Eduart Villanueva, Luisa Giraldo, Leidy Gomez, and Yomar Castaño. "Risk governance in the textile/clothing industry: A case study in medium enterprises". Dutch Journal of Finance and Management 2023 6 no. 2 (2023): 25191. https://doi.org/10.55267/djfm/14137
Harvard
In-text citation: (Nuñez et al., 2023)
Reference: Nuñez, M. A., Villanueva, E., Giraldo, L., Gomez, L., and Castaño, Y. (2023). Risk governance in the textile/clothing industry: A case study in medium enterprises. Dutch Journal of Finance and Management, 6(2), 25191. https://doi.org/10.55267/djfm/14137
MLA
In-text citation: (Nuñez et al., 2023)
Reference: Nuñez, Maria Antonia et al. "Risk governance in the textile/clothing industry: A case study in medium enterprises". Dutch Journal of Finance and Management, vol. 6, no. 2, 2023, 25191. https://doi.org/10.55267/djfm/14137
ABSTRACT
There are few studies on risk governance in medium-sized companies in the textile/clothing industry because it corresponds to an emerging field in which research is evolving. This is why it becomes a relevant field of study, to continue strengthening the development of these elements of risk management, to create and add value in the management of organisations from this field. In addition, medium-sized companies may have fewer resources to devote to analysis, planning and implementation of the topic than large companies. For this reason, the objective of this study is to analyse the risk governance in this type of company, to identify the guidelines and directives that govern it, describe the relationship between risk governance and corporate governance and, finally, refer to practices of risk culture, accountability and communication implemented under this conception. The study was developed using a methodology with a qualitative approach and descriptive scope. Semi-structured interviews with eight companies and one expert were used as an instrument for collecting information. The main findings of the research highlight that the companies that participated in the study are aware of the importance of structuring risk governance. However, most of the companies interviewed apply it empirically but are interested in working on its development. The need to formalise risk management processes and to consider the appropriate distribution of decision-making according to organisational structure and available resources is evident for medium-sized companies, particularly in the textile/clothing sector, however, this is a suggestion that could serve both nationally in Colombia and internationally and could favour the expected results in all sectors of the global economy.
KEYWORDS
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