This study purposes to examine the relationship between strategic risk management and firm performance. The study also investigates the relationship between operational risk management and firm performance of the listed in The Stock Exchange of Thailand (SET) in 2022. In this study, firm performance is measured by firm value following the Tobin’s Q and return on assets. The result shows there are no relationships between strategic risk management and firm performance, both as firm value and return on assets. This imply that strategic risk management has no effects on firm performance. However, the result show that there is positive relationship between operational risk management and firm performance, both as firm value and return on assets. This suggest that operation risk management has effects on higher firm performance so Thai market regulator may use the results of this study to make decisions giving incentives to encourage Thai listed firms to adopt enterprise risk management in order to sustainably creating value in the Thai capital market.