THE EVOLUTION OF RISK MANAGEMENT RESEARCH: CHANGES IN KNOWLEDGE MAPS

One of the leading trends in modern academic research is risk management. Over the years, the approach to risk management has changed and affected many different areas. This study aims to investigate changes in risk management and trends of risk management in the past 20 years. Risk management related publications from 1990 to 2016 were retrieved from the Web of Science and Scopus databases. VOS viewer software was used to analyse the research trend. Literature growth related to risk management is expanding rapidly. Significantly more publications related to risk management aspects were collected in Scopus, compared to the Web of Science. Since 2005 is to be noted a significantly increasing interest in risk management problems (nearly 5300 publications by year in Scopus database). Risk management problems mainly appearing in publications related to the fields of Medicine and Engineering, Business, Management and Accounting, Economics, Econometrics and Finance, Computer Science and Environmental Science. In Business, Management and Accounting a significant jump in the interest in the issues of risk management was noted in 2011. Recent studies focus on the enterprise risk management, environmental and industry management innovation in strong connection with risk assessment. The enterprise risk management associated with environmental and sustainable perspective may be the newest topics that should be closely followed in risk management research.