| Summary: | This study explores the influence of Enterprise Risk Management (ERM) framework implementation on the company performance at a conglomerate group of companies, DRB-HICOM Berhad (the Group). This study intends to solve the problem in assessing the relationship between company performance and ERM implementation by focusing on the companies that standardized their ERM implementation towards all subsidiary companies with multi-type of businesses. In this theoretical analysis, quantitative research with correlational research design will be used, and sampling analysis will be done based on the data samples from 3 main business sectors (namely automotive, properties and services) in the Group and both primary and secondary data from Group subsidiary companies. The evaluation on the adoption of the Committee of Sponsoring Organization of the Treadway Commission (COSO) ERM framework within the subsidiary companies will be a key in assessing the ERM practices within the Group. At the same time, the company performance was measured from the company revenue achievement. Different from previous researches done by previous scholars where the studies were only analyzed on one type of business (single way of ERM implementation only and without comparison) or were done on multi-type of businesses/companies (where too many ways of ERM implementation) which contributed to the failures in assessing the relationship between companies performance and ERM implementation, this study will provide a new solution on the above shortcomings by analyzing the companies (with different type businesses) that have an identical implementation of ERM framework across the Group. This may help future researchers and ERM practitioners to develop better standardization of ERM implementation based on the COSO framework. This paper also provides an insight into the best practices in the ERM to be implemented in other companies or organizations, which will impact the company in terms of financial and non-financial performances. © 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.
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