Paper Title
OPTIMIZINGFINANCIAL PERFORMANCE: A FRAMEWORK FOR MALAYSIAN PUBLIC HIGHER EDUCATION THROUGH ENTERPRISE RISK MANAGEMENT

Abstract
In an era characterized by increasing uncertainties and complexities, financial performance has become a paramount concern for organizations, particularly within the realm of higher education. This study delves into the imperative of optimizing financial performance in Malaysian public higher education (PHE) through the implementation of enterprise risk management (ERM), utilizing Covariance-Based Structural Equation Modeling (CB-SEM) analysis. By implementing ERM, institutions can proactively identify, assess, and mitigate risks, thereby bolstering their capacity to adapt to and thrive in a dynamic environment.This study explores the multifaceted dimensions of financial performance within the context of Malaysian PHE, investigating the integration of ERM implementation into institutional governance and decision-making processes. Through CB-SEM analysis, the study examines the intricate relationships between ERM implementation and its impact on financial performance. Furthermore, it explores the mediating role of ERM implementation between communication and financial performance. By shedding light on the significance of effective communication and stakeholder engagement in optimizing financial performance and mitigating risks, this study aims to contribute to a deeper understanding of financial performance in higher education contexts. The framework developed from this study will offer practical recommendations for policymakers, administrators, and stakeholders involved in Malaysian PHE seeking to enhance financial performance through ERM implementation. Keywords - Enterprise Risk Management; Framework; Financial Performance; Public Higher Education, Malaysia