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Committee of Sponsoring Organizations of the Treadway Commission (COSO) (2017). Enterprise Risk Management: Integrating with Strategy and Performance. American Institute of Certified Public Accountants (AICPA).

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• TITLE: Institutionalizing Risk Management in the Public Sector: The Case of Greece

  AUTHORS: Timoleon Papadopoulos

  KEYWORDS: Risk Management, Public Sector, Institutionalization, Governance Reforms, Greece, Administrative Culture

  JOURNAL NAME: Theoretical Economics Letters, Vol.15 No.4, August 28, 2025

  ABSTRACT: This study explores the institutionalization of risk management practices within the Greek public sector, drawing on a national survey of 378 civil servants. Amid post-crisis governance reforms, Greece presents a compelling context to examine how risk-related processes are adopted and perceived across ministries and state organizations. While public sector risk management has garnered growing international interest, empirical studies remain scarce, especially in southern European administrations. We find limited maturity in formal risk procedures but an emerging awareness among middle- and upper-level officials. The findings contribute to the literature on public governance by highlighting the challenges of embedding risk management practices in hierarchical and legalistic administrative traditions.