Enterprise risk management literature: emerging themes and future direction

Purpose: This study aims to identify the publication phase, performance and scientific contributions of research papers related to enterprise risk management (ERM) and to visualise the emerging themes in addressing volatility, uncertainty, complexity and ambiguity (VUCA). Design/methodology/approach: The biblioshiny technique based on the bibliometrix R package was used to draw journal papers’ performance and scientific contributions by displaying distinctive features from the bibliometric method used in prior studies. The data was extracted from the Web of Science (WOS) and Scopus databases. Findings: Since the 1990s, ERM publication has gained momentum, and it is generally categorised into four main themes. Studies by Miller (1992) and Bromiley et al. (2015) scored the highest in global and local citations, respectively. However, the Economic Outlook ranked first in quality of publications while the Journal of Risk and Insurance topped in quantity of publications. Collaborative research mainly exists between two authors, and the dynamic number of collaborative networks is evident in the USA. Research limitations/implications: This study is limited by the filtered keywords used to generate the search on journal papers’ in WOS and Scopus. It is imperative to have more comprehensive and rigorous analytics on ERM research to enable a direction for future research. Finally, ERM implementation better equips firms to mitigate risk in a VUCA environment. Originality/value: This study attempts to fill a vacuum of ERM literature, specifically in business economics, in addressing VUCA. Moreover, it covers a comprehensive predetermined period of from its inception in 1983 until 2022.

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