What are the Risk Management practices of BEL 20 companies considering the 2020 Belgian Code on Corporate Governance?
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- Risk Management has long been a fundamental aspect of business practice. However, in the current economic climate, it is becoming increasingly crucial for organisations to adopt effective risk management strategies. The importance of risk management has been reinforced by numerous events, including the global pandemic of 2020 and the various geopolitical conflicts that have occurred in recent years. In Belgium, the subject of risk management is partially regulated by a code on corporate governance. This thesis therefore focuses on the relationship between risk management in companies belonging to the BEL 20 index and the 2020 Belgian Code on Corporate Governance. The research question is: "What are the Risk Management practices of BEL 20 companies considering the 2020 Belgian Code on Corporate Governance?". First, this study links all the key concepts related to risk management and corporate governance. It then analyses the way in which risk management and compliance with the governance code coexist in BEL 20 companies. Finally, we provide recommendations for the elaboration of a new update of the Belgian Code on Corporate Governance. But also recommendations to help companies develop their risk management.