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This paper presents a longitudinal study on the impact of Enterprise Risk Management (ERM) on the financial performance of 17 publicly listed banks in the Philippines. The study measures financial performance by utilizing the Return on Assets (ROA) and Return on Equity (ROE) from 2018 to 2021, and using Value at Risk (VaR), board size, risk management committee size, and leverage as proxies to represent ERM. The findings show that the implementation of ERM did not significantly influence the financial performance of publicly listed banks, contradicting previous research that highlights ERM's positive impact on business profitability and overall performance. The results suggest that financial performance remains unchanged regardless of whether companies utilize ERM. This paper contributes to existing literature and provides pertinent inferences for managers and stakeholders seeking to understand the impact of ERM on financial institutions.