Amiril Azizah^1♣, Wayan Edi Arsawan² and Ahyar M Diah<sup>2

1</sup>Business Administration, Polytechnic State of Samarinda, Samarinda, Indonesia
²Business Administration, Polytechnic State of Bali, Bali, Indonesia

ABSTRACT

The Covid-19 turbulence challenges organizations to build sustainable performance. However, research linking risk management and sustainable performance has not been explored in the literature. The study examined how risk management helps firms handle this unexpected situation and maintain performance especially in Covid-19 turbulence. The study surveyed pandemic risk management-implementing enterprises across industries using multiple regression analysis. This study revealed that risk management companies perform better, include proactive risk assessment, contingency planning, and financial and operational resilience. Further, risk management did not significantly affect company performance during Covid-19. The current study suggests that risk management may boost performance but not solve pandemic issues. Understanding the intricate relationship between risk management and crisis-related organizational performance requires more investigation.

Keywords: Firm Performance, Risk Management Disclosure, Leverage, Company Size, Board of Directors Size

^♣Corresponding Author: Amiril Azizah; Business Administration, Polytechnic State of Samarinda, Samarinda, Indonesia; Email: This email address is being protected from spambots. You need JavaScript enabled to view it.; Tel: +6281349379962