IDEAS home Printed from https://ideas.repec.org/a/vrs/founma/v16y2024i1p391-406n1024.html
   My bibliography  Save this article

Modeling Enterprise Risk Management Ecosystems Using Text Analytics

Author

Listed:
  • SAE-LIM Patipan

    (Graduate School of Management and Innovation (GMI), King Mongkut’s University of Technology Thonburi (KMUTT), Bangkok, THAILAND)

Abstract

In recent years, a paradigm shift in risk management has altered in a holistic way, which we call Enterprise Risk Management (ERM). ERM solves the limitations of Traditional Risk Management (TRM). Although firms perceive several benefits of ERM, the successful implementation of ERM rests upon institutional and contingency factors. The ERM approach then seeks to integrate the core system and processes of the firm rather than acting through silo perspective. With this in mind, this research applies text mining techniques to analyze bibliometric data from SCOPUS to propose the suitable ERM ecosystem. This longitudinal study uses 725 reliable documents across 26 years. The descriptive analysis relating to the journal, citation, author, and article performance is displayed. Text co-occurrence analysis of author keywords represented by network mapping shows five ecosystems that significantly integrate with ERM: (1) three lines of defense (3LOD), (2) corporate governance, (3) ERM framework, (4) firm culture, and (5) value creation. Ultimately, the hidden insight from the bibliometric data shows the correlation between ERM and modern firm direction such as sustainability.

Suggested Citation

  • SAE-LIM Patipan, 2024. "Modeling Enterprise Risk Management Ecosystems Using Text Analytics," Foundations of Management, Sciendo, vol. 16(1), pages 391-406.
    • Handle: RePEc:vrs:founma:v:16:y:2024:i:1:p:391-406:n:1024
    DOI: 10.2478/fman-2024-0024
    as

    Download full text from publisher

    File URL: https://doi.org/10.2478/fman-2024-0024
    Download Restriction: no
    File URL: https://libkey.io/10.2478/fman-2024-0024?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Enterprise Risk Management; Corporate Governance; Three Lines of Defense (3LOD); COSO; Ecosystem; Bibliometric Analysis; Text Analytics;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • C81 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:vrs:founma:v:16:y:2024:i:1:p:391-406:n:1024. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Peter Golla (email available below). General contact details of provider: https://www.sciendo.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.