MANAGING INNOVATION IN ENTREPRENEURSHIP 1. Risk Management Practices and Firm Performance with a Mediating Role of Business Model Innovation. The numerous studies have tested the direct relationship between Enterprises Risk Management (ERM) and firms’ performance in both developed and emerging economies. However,how ERM practices contribute to the financial, nonfinancial and environmental performance of financial institutions has been rarely discussed. In particular, the mediating role of BMI between ERM and firms’ performance has mostly remained unanswered. The present study thus considered the mediating role of Business Model Innovation (BMI) between ERM practices and an enterprise’s environmental, financial and nonfinancial performance in
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