The aim of this article is to summarize the literature for managers, researchers and practitioners on the foundations, determinants and results of the implementation of a risk management policy on performance. To achieve this goal, the article is subdivided into three parts. The first presents the fundamentals of risk management in the context of firm theory, the second provides the main determinants of risk management, and the third concludes with a state-of-the-art of empirical studies on risk management and its influence on the performance of non-financial companies.