Figure 1.
Bibliometric Analysis Process
(Source: Author’s own research)
Figure 2.
Proposed Conceptual Framework
(Source: Authors’ own research)
Figure 3.
Descriptive of ERM by Subject Area
(Source: Author’s own research)
Figure 4a.
ERM Document Types and Source Types
(Source: Author’s own research)
Figure 4b.
ERM Document Types and Source Types
(Source: Author’s own research)
Figure 5.
Numbers of Publication in ERM during 1997-2023
(Source: Author’s own research)
Figure 6.
Total Publications and Total Citations
(Source: Author’s own research)
Table 1.
Publication-Related Matric
| Publication-Related Matric | Information |
|---|---|
| Time Frame | 1997–2023 |
| Total Publication (TPs) | 725 Documents |
| Number of Contributing Authors | 1813 |
| Total Citation (TCs) | 9568 |
| Number of Citation/Paper | 9568/725 = 13.20 |
| Number of Citation/Author | 9568/1813 = 5.28 |
| h-index | 49 |
| g-index | 62 |
Table 2.
High Rank of Citations
| Author | Article Name | Journal Name | Brief Objective |
|---|---|---|---|
| Robert E. Hoyt, Andre P. Liebenberg | The Value of Enterprise Risk Management Total Citation (402) | The Journal of Risk and Insurance (2011) | Assessing the value of ERM and its implication |
| Mark S. Beasley Richard Clune Dana R. Hermanson | Enterprise risk management: An empirical analysis of factors associated with the extent of implementation Total Citation (382) | Journal of Accounting and Public Policy (2005) | Studying the factors associated with the implementation of ERM |
| Lawrence A. Gordon Martin P. Loeb Chih-Yang Tseng | Enterprise risk management and firm performance: A contingency perspective Total Citation (343) | Journal of Accounting and Public Policy (2009) | Studying the contingency factors, ERM and organizational performance |
| Marika Arena Michela Arnaboldi Giovanni Azzone | The Organizational Dynamics of Enterprise Risk Management Total Citation (244) | Accounting, Organizations and Society (2010) | Studying the ERM variations in firms |
| Philip Bromiley Michael McShane Anil Nair Elzotbek Rustambekov | Enterprise Risk Management: Review, Critique, and Research Directions Total Citation (242) | Long Range Planning (2015) | Proposing of critical review ERM gaps |
Table 3.
Publication Keyword Clustering
| Author's Keyword | Cluster Red | Co-occurrence | Occurrence |
|---|---|---|---|
| Internal Control | 1 | 15 | 9 |
| Risk Governance | 1 | 13 | 11 |
| COSO | 1 | 11 | 13 |
| Risk Identification | 1 | 10 | 9 |
| Risk Appetite | 1 | 8 | 6 |
| Internal Audit | 1 | 8 | 6 |
| Management Control Systems | 1 | 8 | 5 |
| Risk Analysis | 1 | 7 | 8 |
| Public Sector | 1 | 6 | 6 |
| Strategy | 1 | 4 | 5 |
| Author's Keyword | Cluster Green | Co-occurrence | Occurrence |
| Enterprise Risk Management | 2 | 217 | 309 |
| Corporate Governance | 2 | 31 | 27 |
| Firm Value | 2 | 27 | 20 |
| Risk Culture | 2 | 11 | 7 |
| Financial Performance | 2 | 9 | 5 |
| Risk Disclosure | 2 | 9 | 5 |
| Business Strategy | 2 | 5 | 5 |
| Leverage | 2 | 5 | 5 |
| Author's Keyword | Cluster Dark Blue | Co-occurrence | Occurrence |
| Financial Institutions | 3 | 14 | 9 |
| Construction Firms | 3 | 12 | 8 |
| Organizational Culture | 3 | 11 | 10 |
| Maturity | 3 | 9 | 5 |
| Insurance | 3 | 7 | 5 |
| Firm Characteristics | 3 | 6 | 5 |
| Information Technology | 3 | 6 | 5 |
| Author's Keyword | Cluster Yellow | Co-occurrence | Occurrence |
| Risk Assessment | 4 | 18 | 18 |
| Emerging Market | 4 | 6 | 5 |
| Enterprise | 4 | 4 | 6 |
| Data Mining | 4 | 2 | 5 |
| Author's Keyword | Cluster Purple | Co-occurrence | Occurrence |
| Performance | 5 | 27 | 20 |
| MALAYSIA | 5 | 19 | 11 |
| Knowledge Management | 5 | 16 | 11 |
| CRO | 5 | 11 | 6 |
| Author's Keyword | Cluster Light Blue | Co-occurrence | Occurrence |
| Structural Equation Modeling | 6 | 19 | 7 |
| SMES | 6 | 13 | 5 |
| Corporate Social Responsibility | 6 | 6 | 5 |
| Sustainable Development | 6 | 6 | 5 |
Figure 7.
Single Author and Multiple Authors
(Source: Author’s own research)
Figure 8.
Network of Word Clustering
(Source: Author’s own research)
Table 4.
Publication Keyword Clustering
| Author's Keyword 1 | Author's Keyword 2 | Weight |
|---|---|---|
| Corporate Governance | Enterprise Risk Management | 20 |
| Enterprise Risk Management | Firm Value | 19 |
| Enterprise Risk Management | Performance | 14 |
| Enterprise Risk Management | Malaysia | 10 |
| COSO | Enterprise Risk Management | 9 |
| Enterprise Risk Management | Financial Institutions | 9 |
| Enterprise Risk Management | Organizational Culture | 9 |
| Enterprise Risk Management | Knowledge Management | 9 |
| Enterprise Risk Management | Risk Assessment | 9 |
Figure 9.
Thematic Analysis (Source: Author’s own research)
Figure 10.
Word Clustering Across Years
(Source: Author’s own research)
Figure 11.
Three Lines of Defense
(Source: Schuett, 2023)
Figure 12.
Three Lines of Defense
(Source: Author’s own research)