The relationship between enterprise risk management and managerial judgement in decision‐making: A systematic literature review

Enterprise risk management (ERM) promises to improve decision-making and help organizations avoid wicked problems. Consequently, artefacts may play a significant role in managers’ processes, but little is known about the relationship between ERM managerial judgement (MJDM). The purpose of this paper present systematic literature review ERM, thereby filling knowledge gap providing an evidence-based foundation for improving practice advancing theory development. Based on analysis synthesis 33 articles published 2009 2021, we identify four contextual, five technical, three social cognitive factors that interact with MJDM. We find regulation corporate governance, artefact design reconfiguration use, capital interactions spaces perceptions have most support. distinguish different modes judgement: measurement, envisionment qualculation. qualculation, which employs quantitative qualitative data interpretations risks uncertainties, more likely be useful decision-making, particularly when attempting address also human cognition significantly impacts design, implementation how those change over time. This develops new narrative conceptualization MJDM, presented integrative framework. Finally, encourage researchers adopt theories related concepts are better suited examining ERM–MJDM take turn future research.