ANNOTATED BIBLIOGRAPHY ON ERM IN BANKING 1 ANNOTATED BIBLIOGRAPHY ON ERM IN BANKING 3 Chuang, Y. W., Lin, C. Y., Shih, J. Y., & Tsai, W. C. (2017). The Value of Implementing Enterprise Risk Management: Evidence from Taiwan's Financial Industry This piece of work examines how the relationship between ERM implementation with the firm value among financial firms in an Asia developing market from 2001 to 2016. It also examines whether alterations in cost revenue effectiveness across businesses can be expounded by ERM adoption.The main argument of this article was to determine whether firms in Taiwan’s financial industry get any assistance from enterprise risk management (ERM) implementation. Another point of concern of this article is to determine how much value enterprise risk management activity makes.This source is useful because it shows that financial company implementing ERM is beneficial to the users. Out of the results of the study carried out shows that one benefits by adding value compared to non-users.The article is objective since it elaborates how the adoption of enterprise risk management aids firms to improve its revenue and cost efficiencies.In my piece of work, I will use this article to show that on the financial industry the banks and property/liability (P/L) brokers embracing ERM produce more welfares in cost savings and revenue efficacy. Liem, C. (2018). Enterprise Risk Management In Banking Industry. Firm Journal of Management Studies, 3(1), 1-15. Enterprise Risk Management in Banking Industry is an article which was written by Liem in the year 2018. The main aim of this article was to evaluate ERM implementation during the early phase of the ERM execution guideline in Indonesian, specifically its effect on bank performance and vice versa. This article is vital to use in my research for it involves the concentration of the 4 (four) state-owned commercial banks in Indonesia is involved which include; Bank Mandiri (BM), Bank Negara Indonesia, Bank Rakyat Indonesia. The use of these four types of banks will help to show how Enterprise Risk Management in banking. The study in this article has employed the use of ERM Index which is being used as a proxy of ERM implementation at the same time making a presentation of the bank performance is presented by 3 proxies which are NIM, ROAA, and EM. This is a useful source for it helps us to get to know how state-owned commercial banks have positive ERM Index. This source will be of great help in my piece of work for it will enable me to get to know the different maturity stage of ERM implementation. The article is reliable for it recognizes that ERM Index has affirmative important impact concerning ROAA and vice versa; ERM Index has an affirmative but irrelevant impact towards NIM and vice versa while at the same time ERM index has a positive but insignificant influence towards EM. The article is objective for it suggests to all profitmaking banks in Indonesia to implement ERM .

1. ANNOTATED BIBLIOGRAPHY ON ERM IN BANKING
1
ANNOTATED BIBLIOGRAPHY ON ERM IN BANKING
3
Chuang, Y. W., Lin, C. Y., Shih, J. Y., & Tsai, W. C. (2017).
The Value of Implementing Enterprise Risk Management:
Evidence from Taiwan's Financial Industry
This piece of work examines how the relationship between ERM
implementation with the firm value among financial firms in an
Asia developing market from 2001 to 2016. It also examines
whether alterations in cost revenue effectiveness across
businesses can be expounded by ERM adoption.The main
argument of this article was to determine whether firms in
Taiwan’s financial industry get any assistance from enterprise
risk management (ERM) implementation. Another point of
concern of this article is to determine how much value
enterprise risk management activity makes.This source is useful
because it shows that financial company implementing ERM is
beneficial to the users. Out of the results of the study carried
out shows that one benefits by adding value compared to non-
users.The article is objective since it elaborates how the
adoption of enterprise risk management aids firms to improve
its revenue and cost efficiencies.In my piece of work, I will use
this article to show that on the financial industry the banks and
property/liability (P/L) brokers embracing ERM produce more
welfares in cost savings and revenue efficacy.
Liem, C. (2018). Enterprise Risk Management In Banking
Industry. Firm Journal of Management Studies, 3(1), 1-15.

2. Enterprise Risk Management in Banking Industry is an article
which was written by Liem in the year 2018. The main aim of
this article was to evaluate ERM implementation during the
early phase of the ERM execution guideline in Indonesian,
specifically its effect on bank performance and vice versa. This
article is vital to use in my research for it involves the
concentration of the 4 (four) state-owned commercial banks in
Indonesia is involved which include; Bank Mandiri (BM), Bank
Negara Indonesia, Bank Rakyat Indonesia. The use of these four
types of banks will help to show how Enterprise Risk
Management in banking. The study in this article has employed
the use of ERM Index which is being used as a proxy of ERM
implementation at the same time making a presentation of the
bank performance is presented by 3 proxies which are NIM,
ROAA, and EM. This is a useful source for it helps us to get to
know how state-owned commercial banks have positive ERM
Index. This source will be of great help in my piece of work for
it will enable me to get to know the different maturity stage of
ERM implementation. The article is reliable for it recognizes
that ERM Index has affirmative important impact concerning
ROAA and vice versa; ERM Index has an affirmative but
irrelevant impact towards NIM and vice versa while at the same
time ERM index has a positive but insignificant influence
towards EM. The article is objective for it suggests to all
profitmaking banks in Indonesia to implement ERM extremely
for it has been confirmed that ERM execution conveys positive
impact towards bank productivity and it conveys a positive
signal to stockholders.
Lundqvist, S. A., & Vilhelmsson, A. (2018). Enterprise Risk
Management and Default Risk: Evidence from the Banking
Industry. Journal of Risk and Insurance, 85(1), 127-157.
https://doi.org/10.1111/jori.12151
The main point of argument of this article is that Enterprise risk
management (ERM) has developed as an agenda for more
universal and joined risk administration with an importance on

3. the enhanced power of the risk administration system. The aim
of writing this piece of work is to show how ERM should
hypothetically lessen the unpredictability of cash flows,
intervention risk, and information risk eventually reducing a
firm’s default risk. The article summaries ways in which a rich
set of control variables and fixed properties are involved, a one-
standard-deviation upsurge in the extent of ERM
implementation declines CDS spreads by some basic facts. The
usefulness of this article is seen when the article discusses on
association among the degree of ERM execution and avoidance
risk in a board dataset wrapping the world’s largest sets. The
use of this piece of work will be of great help to my research
paper for it shows how there is a higher mark of ERM execution
is negatively associated to the credit avoidance swap (CDS)
extent of a bank.
Meinert, M. C. (2018). Embracing ERM at Community
Banks. American Bankers Association. ABA Banking
Journal, 110(1), 28-29.
Embracing ERM at Community Banks is a journal written by
Meinert in the year 2018. The author Meinert argues that
regulatory focus is upsurging around enterprise risk
management and the controllers are expecting banks of all sizes
to have a framework in areas of assessing and evaluating risk
across the entire firm. Another point of an argument is through
the various ways which have been utilized by the author to show
how the whole idea of enterprise risk management lasts to be
pressed down to smaller and smaller institutions. This source is
of great help in my research work for it shows how bankers can
settle on is that controlling focus is accumulating
around enterprise risk management.
Soliman, A., & Mukhtar, A. (2017). Enterprise Risk
Management and firm performance: an integrated model for the
banking sector. Banks and Bank Systems.
http://dx.doi.org/10.21511/bbs.12(2).2017.12
The main aim of this article is to show howthe enactment of

4. Enterprise Risk Management database influences the
performance of firms using an Enterprise Risk Management
typical for the banking section and a combined model for
measuring Enterprise Risk Management catalog. The article
consists of ten listed commercial banks which were designated
with the Enterprise Risk Management index as the chief free
variable, with Return on Average Equity (ROAE), Share Price
Return (SPR) and Firm Value (FV) which were used as three
distinct dependent variables. This study is vital and relevance
for my paper for it offers strong proof of a positive association
between Enterprise Risk Management implementation and
performance in the Nigerian banking segment. The article
shows how there is an interaction between the banking industry
and Enterprise Risk Management. The conclusions and
deductions of this study are reliable with those of other readings
in that they used data from diverse industries, offering a
foundation from which to simplify the discoveries from this
reading to firms in other businesses.
Zeghal, D., & El Aoun, M. (2016). The effect of the 2007/2008
financial crisis on enterprise risk management disclosure of top
US banks. Journal of Modern Accounting and Auditing, 12(1),
28-51.
doi: 10.17265/1548-6583/2016.01.003
Zeghal and Aoun points of arguments are that documentation of
consequences of the 2007/2008 financial disaster on the
capacity and the superiority of enterprise risk management
(ERM) revelation in the annual reports of the principal US
banks, and examine its causes. The main findings which are
relevant for my paper are that via the usage of a content
analysis method of the annual intelligence form 10-K for the
years 2006, 2007, 2008, and 2009 shows that the ERM expose is
considerably and confidently linked with the disaster, bank size,
board individuality, dualism and meaningfully and negatively
linked with profitability, power, and board size. Another reason
for carrying out this study was to prove that the acceptance of

5. ERM, really, offers some profits to firms comprising
development in presentation measures. This article is relevant
for it pursues to fill a gap in the works by exploring the
consequence of the crisis on ERM revelation in the US banking
sector background, and contributes to an understanding into the
features affecting risk disclosure performs during the economic
crisis.
Zéghal, D., & El Aoun, M. (2016). Enterprise Risk Management
in the US Banking Sector Following the Financial
Crisis. Modern Economy, 7(04), 494.
http://dx.doi.org/10.4236/me.2016.74055
The aim of this paper was toexamine the effect of the monetary
crisis on the administration of risk in the prevalent US banks.
This paper is important for it shows how the subprime monetary
crisis had meaningfully affected the levels of risk contact and
its significances after the crisis. The benefit of this paper is
there are slight but important fluctuations in the ERM
approaches after the crisis for the three major groups of risk
examined in this study. The three major groups of risks
discussed here are financial, business and strategic. This source
of work is exceptional from other sources for it gives the
various alterations in ERM strategies which are not important
for risks inspected separately with the exclusion of credit risk.
This study is principally appropriate for standards setters and
regulatory organizations for it shelters light on the
susceptibility of banks to certain kinds of risks like systemic
risk and aids them to position their analysis and find inclusive
and innovative keys for future reform.
References
Chuang, Y. W., Lin, C. Y., Shih, J. Y., & Tsai, W. C. (2017).
The Value of Implementing Enterprise Risk Management:

6. Evidence from Taiwan's Financial Industry
Liem, C. (2018). Enterprise Risk Management In Banking
Industry. Firm Journal of Management Studies, 3(1), 1-15.
Lundqvist, S. A., & Vilhelmsson, A. (2018). Enterprise Risk
Management and Default Risk: Evidence from the Banking
Industry. Journal of Risk and Insurance, 85(1), 127-157.
https://doi.org/10.1111/jori.12151
Meinert, M. C. (2018). Embracing ERM at Community
Banks. American Bankers Association. ABA Banking
Journal, 110(1), 28-29.
Soliman, A., & Mukhtar, A. (2017). Enterprise Risk
Management and firm performance: an integrated model for the
banking sector. Banks and Bank Systems.
http://dx.doi.org/10.21511/bbs.12(2).2017.12
Zeghal, D., & El Aoun, M. (2016). The effect of the 2007/2008
financial crisis on enterprise risk management disclosure of top
US banks. Journal of Modern Accounting and Auditing, 12(1),
28-51.
doi: 10.17265/1548-6583/2016.01.003
Zéghal, D., & El Aoun, M. (2016). Enterprise Risk Management
in the US Banking Sector Following the Financial
Crisis. Modern Economy, 7(04), 494.
http://dx.doi.org/10.4236/me.2016.74055
School of Liberal Arts
University Writing Center
“Because writers need readers”
Cavanaugh Hall 427 University Library 2125
(317)274-2049 (317)278-8171

7. www.iupui.edu/~uwc
Literature Review: Synthesizing Multiple Sources
The term “synthesis” means to combine separate elements to
form a whole. Writing teachers often use
this term when they assign students to write a literature review
or other paper that requires the use of a
variety of sources. When writing teachers use this term, they
often hope that students will write papers
that make a variety of connections among source material so
that their papers are not organized source-
by-source but are organized topic-by-topic to create a whole
text. This handout is designed to help
students better use synthesis in their writing and will offer
strategies in the areas of:
(1) pre-writing,
(2) writing,
(3) recognizing and
(4) revising for synthesis.

8. A common strategy for planning a synthesis paper is to create a
“grid of common points.”
To create a grid follow these steps (note: be sure to see example
grid on next page):
1. As you read your source material, take note of words or ideas
that repeat themselves.
2. As you read your source material, also make note of
conflicts or contradictions in the
information.
3. Based on the repetitions and contradictions you notice, write
down the main research question
that the source material answers. A good research question
should be open-ended.
4. Make a list of the key ways the research answers the
question. Make sure your answers
account for both the contradictions and repetitions you
discovered. Turn these answers into
“categories.”

9. 5. Create a grid using authors’ names and categories as
organizing features.
6. Fill in the grid with details from source material.
A grid of common points is a heuristic that allows a writer to
group source material
into specific categories. These categories can help the writer
organize the paper.
1. Planning a Synthesis Paper 1. Planning a Synthesis Paper
Sample Literature Review Grid of Common Points
Research Question: What role does capital punishment play in
American society?
Possible Answers: Capital punishment plays the roles of
deterrence, revenge, oppression, and

10. political leverage.
Author’s Names Deterrence Revenge Oppression Political
Leverage
Author A
Author B
Author C
Author D
Author E
Author F

11. In the blank boxes above, the writer would write down what
each author
said about each category. Some boxes might be blank, but the
more
complete the writer can make the boxes, the more well
developed the final
paper will be.
TIP: When creating your grid, avoid creating only two
categories. Try to create categories
that represent concerns that get repeated again and again in the
source material.
1. Planning a Synthesis Paper (cont’d)
Once you have completed a grid of common points, you can
begin writing your paper. When
you begin to write the body of the paper, you may want to

12. follow these steps:
1. Select one common point and divide it into sub-topics that
represent paragraph size “chunks.”
For example, capital punishment literature on the issue of
deterrence has the following
sub-topics: (1) the public’s impression that capital punishment
does deter crime,
(2) researchers’ impressions that capital punishment does not
deter crime in most cases,
and (3) researchers’ impressions that capital punishment can
lead to more crime.
2. For each “chunk” create a topic sentence that both (1)
synthesizes the literature to be
discussed and (2) describes the literature to be discussed. Here
are some example topic
sentences:
Much of the literature points out that while capital punishment
does not deter crime, most
Americans still believe that it does deter crime.

13. (The first highlighted section synthesizes the literature, the
second highlighted section
describes the literature).
Not only does the literature agree that capital punishment does
not deter crime, some
literature suggests that capital punishment may in fact cause
more crime.
(The first two highlighted sections synthesize the literature and
the third highlighted
section describes the literature.)
3. Support the topic sentences you created in #2 with quotes
and paraphrases from source
material. As you incorporate source material, make sure to use
clear transitions that relate the
sources to each other and to your topic sentences.
(For more information about using and citing sources in text,
see the Center’s handouts on MLA

14. format, APA format, and integrating sources.)
2. Writing a Synthesis Paper
The following are two parts of a student’s literature review.
The first example is an early draft
of the literature review. The second example is a revised
version. Notice how the student’s
revision makes better use of synthesis at both the paragraph and
sentence level. The revised
example is also more accurate in its portrayal of the literature.
Unrevised Paragraph:
Much of the literature agrees that capital punishment is not a
crime deterrent. According
to Judy Pennington in an interview with Helen Prejean, crime
rates in New Orleans went up in
the eight weeks following executions. Jimmy Dunne notes that
crime rates often go up in the

15. first two or three months following an execution. “Death and
the American” argues that
America’s crime rate as a whole has increased drastically since
the re-instatement of the death
penalty in the 1960s. This article notes that 700 crimes are
committed for every 100,000
Americans. Helen Prejean cites Ellis in her book to note that in
1980 500,000 people were
behind bars and in 1990 that figure rose to 1.1 million.
Revised Paragraph(s):
The literature on capital punishment suggests that it fails as a
deterrent in two key ways.
First, much of the literature suggests that capital punishment
does not lower the crime rate. Helen
Prejean, in Deadman Walking, clearly notes that capital
punishment does little to lower the crime
rate. Prejean argues that the “evidence that executions do not
deter crime is conclusive […] the
U.S. murder rate is no higher in states that do not have the
death penalty than those who do”
(110). Prejean’s point is reiterated from a historical perspective
in “Death and the American.”
Here, the author notes that despite the social and economic

16. upheavals that occurred from the
1930s to the 1960s, the crime rate barely changed (2).
However, after the reinstatement of the
death penalty in the 1960s, the author notes that “crime rates
soared” (2). Steven Hawkins points
out that law enforcement officials also agree that the death
penalty has failed to stop crime. He
explains that a 1995 Peter D. Hart Research Associates survey
found that police chiefs believe
the death penalty to be “the least effective way of reducing
crime” (1).
Some of the literature suggests that, in addition to failing to
lower the crime rate, capital
punishment can lead to more crime. In an interview with Helen
Prejean, Judy Pennington notes
that in 1987, the crime rate in New Orleans went up 16.3
percent in the quarter following eight
executions (7). In Deadman Walking, Prejean elaborates on her
position that capital punishment
can be related to an increase in crime. She notes that in Canada
in 1975, the murder rate peaked
“one year before the death penalty was abolished” (110).
Capital punishment opponents like
Thurgood Marshall and Donald Cabana agree with Prejean that

17. capital punishment has failed as
a deterrent and cite similar statistical studies as evidence for
this position (Fitzpatrick 3; Hawkins
1). Fitzpatrick also explains that Marshall would remind “us
that the question with respect to
deterrence is not whether the death penalty is a deterrent but
whether it is a better deterrent than
life in imprisonment” (53). The literature reviewed seems to
overwhelmingly suggest that
capital punishment is not the better deterrent.
3. Recognizing Synthesis
4A. Improving Synthesis at the Paper Level 4B. Improving
Synthesis at the Paragraph
Level
1. Write down the paper’s thesis or main 1. Select a paragraph

18. to work with.
research question.
2. Highlight the synthesizing topic 2. Highlight the topic
sentence.
sentence of each paragraph.
3. If a topic sentence is missing, draw 3. In every sentence
highlight words
a star (*) next to the paragraph. that link the topic
sentence and
source material.
4. Using pages 3 & 4 as guides, write 4. If links are missing,
draw a slash (/)
topic sentences for every star. in front of the sentence.
5. If necessary, re-organize and combine 5. Where slashes
appear, add transitions.
source material to fit with new topic sentences.
Handout created by T.B. Henning—Updated February 2011

19. Sources Consulted include:
Corn, Kevin, et al. Research and Argumentation. 2
nd
ed. IUPUI: HarperCollins, 1994. Print.
“Death and the American.” The Economist 21 June 1997: 1-2.
Web. 1 Aug. 1997.
Fitzpatrick, Tracy B. “Justice Thurgood Marshall and Capital
Punishment.” American Criminal Law Review 32.4
(1995): 1-17. Web. 1 Aug. 1997.
Hawkins, Steven. “Death at Midnight…Hope at Sunrise.”
Corrections Today Aug. 1996: 1-2. Web. 1 Aug. 1997.
Pennington, Judy. “Helen Prejean.” The Progressive Jan. 1996:
1-9. Web. 1 Aug. 1997.
Prejean, Helen. Deadman Walking. New York: Random House,
1992. Print.
SCHOOL OF LIBERAL ARTS
INDIANA UNIVERSITY
University Writing Center

20. IUPUI
4. Revising a Synthesis Paper