Statutory regulation of the risk management function in Germany: Implementation issues for the non-financial sector

Abstract

The globalization of financial markets and several spectacular corporate crises were the prime forces that led the German legislator to pass the KonTraG, a law requiring companies to implement risk management systems. In order to harness this change as a value driver for companies, the article introduces a holistic concept of entrepreneurial Chance- and Risk-Management, which is designed to fulfill the dual requirements of the legislator on the one hand and of corporate management needs on the other. © 2005 Springer Berlin · Heidelberg.