Date of Award


Document Type


Degree Name

Doctor of Education (EdD)


Executive Leadership

First Supervisor

Jason Berman

Second Supervisor

Bruce Blaine


The field of enterprise risk management (ERM) was born from corporate scandals early in this century. COSO published its Integrated Framework in 2004, outlining eight ERM components that, when present and functioning effectively, provide reasonable assurance an organization will meet its objectives. Since then, organizations have been increasingly urged to adopt risk oversight practices, with research conducted to measure the level of ERM framework adoption. These studies show varying levels of ERM application, with minimal evidence of ERM effectiveness. To consolidate existing studies, a fixed effects meta-analysis of proportions was conducted, revealing a 47.4% level of framework adoption. An experiment was also performed to determine the effectiveness of ERM methods. A test group was provided training on the ERM risk assessment method of heat mapping, versus a control group that learned ERM framework history. Both groups were provided a list of scenarios, and were asked to determine which risks should be mitigated. The testing group showed improvement in risk-reduction decisions, confirmed by a one-tail t -test, where t (46) = - 3.57, p = 0.0004, and Cohen’s d of 1.02, indicating a statistically significant difference in group means as a result of the treatment. These findings highlight an opportunity to conduct additional research to gain greater insight into organizations that have yet to adopt an ERM framework, while further analysis should also be conducted into the effectiveness of other ERM tools. Ultimately, this research provides greater impetus for ERM adoption, potentially critical protections against the next economic downturn.

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