Journal of social protection research
Volume 7, Numéro 1, Pages 25-37
2026-06-30

From Risk To Resilience: The Role Of Insurance In Project Performance, Socio-economic Development, And Change Management Dynamics



Authors : Alenazi Hamood . Bahudhailah Mohammed .

Abstract

This study examines insurance effects, reduces operational risks, improves project efficiency, supports socio-economic stability, and promotes sustainable development. Uses panel data approach, covers 2000–2022, includes multiple countries. Applies econometric techniques, unit root tests, cointegration analysis, CS-ARDL model. Analyzes short-run relationships, examines long-run relationships, accounts for cross-sectional dependence, considers heterogeneity. Findings show strong impact, insurance reduces risks, improves project performance. Higher insurance penetration lowers risk levels; better performance reduces risks; employment stability supports reduction. Results confirm strong relationships, short-run effects exist, long-run effects persist, and insurance proves effective. Study faces data limitations, uses aggregate indicators, may miss some risk dimensions. Assumes linear relationships; excludes technological factors. Future research should expand data, include sector analysis, apply non-linear models, improve accuracy. Study links key concepts, integrates insurance and risk, connects project management, builds unified framework. Provides new empirical evidence, enhances managerial efficiency, strengthens socio-economic stability, addresses literature gap.

Keywords

Insurance ; Operational Risk ; Project Performance ; Socio-Economic Development ; Change Management

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