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Type: Journal article
Title: The decision to outsource risk management services
Author: Christensen, J.
Kent, P.
Citation: Accounting and Finance, 2016; 56(4):985-1015
Publisher: Wiley
Issue Date: 2016
ISSN: 1467-629X
Statement of
Jacqueline Christensen and Pamela Kent
Abstract: We apply transaction cost economics to identify factors influencing companies’ decision to internally generate or outsource risk management services. A unique sample is used which combines publicly available data with private information supplied by 281 Austral ian listed companies. We find that expenditure on research and development, greater technological uncertainty, more competitive environments, more overseas sales and transaction frequency are associated with less outsourcing of risk management services. Uncertainty due to environmental diversity is associated with more outsourcing of risk management services. Companies that outsource risk management services also have lower staff turnover and provide more specialised training and longer contracts for risk management suppliers.
Keywords: risk management; transaction cost economics; outsourcing; audit
Rights: © 2015 AFAANZ
RMID: 0030059422
DOI: 10.1111/acfi.12119
Appears in Collections:Business School publications

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