Exploring the Relationship between Hazard Adjustments and Risk Managers in Organizations

Abstract

There is little empirical evidence on the relationship between organizational risk managers and the adoption of hazard adjustments (measures taken to reduce risks from extreme events). Similarly, the risk perception literature is mixed on the relationship between risk perception and the adoption of hazard adjustments in organizations. This study empirically addresses these two gaps using data collected from 227 public, private and non-profit organizations in the Memphis/Shelby County area, Tennessee, in 2006. This study finds a significant positive relationship between risk managers and the adoption of hazard adjustments. The results also indicate that organizational risk perception has a small positive influence on the adoption of hazard adjustments.