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Optimizing enterprise risk management: a literature review and critical analysis of the work of  Wu and Olson

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Abstract

Risks exist in all aspects of our lives. Using data in both Scopus and ISI Web of Science, this review paper identifies pioneer work and pioneer scholars in enterprise risk management (ERM). Being ranked the first based on the review data, Desheng Wu has been active in this area by serving as a good academic network manager on the global research network, His global efforts with diverse networking have enabled him to publish outstanding papers in the field of ERM. Therefore, this paper also conducts a literature review of his papers and critical analysis of the work of Wu and Olson, from the perspective of the ERM, to glean implications and suggestions for the optimization and customization of the ERM.

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Notes

  1. Dr. Wu advises adding both big data and market environment, and risk conflict property besides the other four he generalized in Wu and Olson (2013) and Wu et al. (2014a). The W-O ERM Model is a summary of Wu and Olson theories and methodologies in ERM.

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Acknowledgments

This work is partially supported by NFSC grant (Grant # 71471055), the 100-Talents plan Program at Chinese Academy of Sciences and 1000-Talents plan Program for the Young Scientists.

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Authors and Affiliations

  1. College of Economics and International Trade, Inha University, Incheon, Korea

    Yongrok Choi

  2. Stockholm Business School, Stockholm University, Stockholm, Sweden

    Xiaoxia Ye & Lu Zhao

  3. Department of Mathematics, University of Toronto, Toronto, Canada

    Amanda C. Luo

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  1. Yongrok Choi
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  2. Xiaoxia Ye
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  3. Lu Zhao
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  4. Amanda C. Luo
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Correspondence to Amanda C. Luo.

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Choi, Y., Ye, X., Zhao, L. et al. Optimizing enterprise risk management: a literature review and critical analysis of the work of  Wu and Olson. Ann Oper Res 237, 281–300 (2016). https://doi.org/10.1007/s10479-015-1789-5

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