A Systematic Literature Review of Enterprise Risk Management and Agendas for Future Research

HRMARS - Purpose: This study aims to systematically review recent developments in Enterprise Risk Management (ERM), synthesizing the findings published between 2019 and 2024. The goal is to uncover prevailing trends and theoretical advancements while identifying research gaps and future agendas for ERM scholarship. Design: Following the PRISMA protocol, this review examines peer-reviewed ERM articles indexed in the Web of Science (WoS) database from 2019 to 2024. A multi-stage screening process was employed to ensure methodological rigor, including identification, screening, eligibility, and inclusion stages. Findings: Drawing on research from diverse sectors, the review pinpoints major trends, challenges, and best practices in ERM. The evidence suggests that robust ERM efforts correlate positively with enhanced resilience, stronger financial outcomes, and better strategic alignment. In addition to delivering insights that can guide practitioners, policymakers, and academics, this review identifies prominent gaps in the existing literature and proposes avenues for future inquiry. Research limitations: The study is limited by its reliance on the Web of Science database and the selected time frame, which may exclude relevant studies outside this scope. Practical implications: Findings provide actionable insights for organizations seeking to integrate ERM into strategic planning, governance, and sustainability frameworks, thereby strengthening long-term performance and resilience. Originality: This study is the first to apply the PRISMA framework to synthesize recent ERM research systematically, offering a holistic and evidence-based understanding of its theoretical and practical evolution. It advances knowledge by linking ERM with emerging domains such as digital transformation, sustainability, and corporate social responsibility (CSR).