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Unpredictable economic landscapes have led to a continuous escalation in global economic policy uncertainty (EPU). Improving risk management and sustainability in an environment with high macro risk is critical for business development. This study aims to explore the impact of corporate sustainable development on corporate tax risk.

After using a sample of companies that were A-share listed on the Shanghai and Shenzhen stock exchanges from 2011 to 2021, this paper applies ordinary least squares and a moderate effect model.

Better environmental, social and governance (ESG) performance can weaken corporate tax risk by improving green innovation capability, reputation and information transparency. Meanwhile, the restraining effect of ESG on tax risk was more significant amid high EPU. These impacts were amplified amid higher market competition, lower tax supervision and a lower degree of corporate digital transformation.

The findings emphasize the need for the government to establish a healthy business and tax environment so that enterprises can improve sustainable development and increase their risk management abilities, especially post-COVID-19.

This study guides enterprises and the entirety of society to in paying attention to and promoting ESG practices, which can enhance enterprise tax management.

This study expands the research on the economic consequences of sustainable development and the factors influencing corporate tax risk and EPU.

The purpose of this paper is to empirically analyze the impact of directors’ and officers’ (D&O) liability insurance on enterprise strategic change. It also explores the mediating role of litigation risk, the moderating roles of enterprise science and technology level and precipitation organizational slack between them. In addition, it examines the joint moderating roles of the top management team (TMT) external social network and enterprise science and technology level, and enterprise scale and precipitation organizational slack.

Using the unbalanced panel data of A-share listed companies in the Shanghai and Shenzhen stock exchanges of China from 2002 to 2020 as the research sample, this paper uses the ordinary least square method and fixed-effect model to study the relationship between D&O liability insurance and enterprise strategic change. The study also focuses on the mediating mechanism and moderating mechanisms between them.

The authors find that D&O liability insurance has an “incentive effect,” which can significantly promote enterprise strategic change. Litigation risk plays a partial mediating role between D&O liability insurance and enterprise strategic change. Enterprise science and technology level and precipitation organizational slack negatively moderate the relationship between D&O liability insurance and enterprise strategic change. TMT external social network and enterprise science and technology level, and enterprise-scale and precipitation organizational slack have joint moderating effects on the relationship between D&O liability insurance and enterprise strategic change.

This paper confirms the “incentive effect hypothesis” of the impact of D&O liability insurance on enterprise strategic change, which not only broadens the research perspective of enterprise strategic management but also further expands the research scope of D&O liability insurance. Besides, this paper thoroughly explores the influencing mechanisms between D&O liability insurance and enterprise strategic change, providing incremental contributions to the research literature in the field of enterprise risk management and corporate governance. The findings have practical guiding significance for expanding the coverage of D&O liability insurance, promoting the implementation of strategic changes and improving the level of corporate governance of Chinese enterprises.

The primary objective of this research is to conceptualize the integration of enterprise risk management (ERM) as a mechanism to enhance the connection between corporate sustainability (CS) reporting and financial performance. This study suggests that future researchers should validate the proposed conceptualization by conducting a comprehensive content analysis of sustainability reports of Malaysian oil and gas companies. This analysis will allow for the collection of pertinent data regarding CS reporting and ERM implementation. The present study takes a comprehensive approach by integrating legitimacy, stakeholder, and resource-based view (RBV) theories, proposing a robust conceptual design that emphasizes the role of ERM in the connection between CS reporting and firm performance. Drawing on theoretical foundations, this study proposes that CS reporting will have a direct effect on financial performance. Moreover, the integration of ERM serves to strengthen the nexus between CS reporting and financial performance. This study offers valuable insights for stakeholders in the oil and gas sector by providing strategic guidance to enhance financial performance not only through CS reporting but also by implementing ERM. Moreover, the framework proposed in this study is expected to bring tangible and intangible benefits to corporations, including reducing information asymmetry, improving the quality of disclosure, and creating value within the field of CS. The proposed conceptual framework holds great significance as it enhances the applicability of legitimacy, stakeholder, and RBV theories, while also creating value for stakeholders through CS reporting and the adoption of risk management practices to enhance financial performance.

The purpose of this study is to examine how companies integrate cyber risk into their enterprise risk management practices. Data breaches have become commonplace, with thousands occurring each year, and some costing hundreds of millions of dollars. Consequently, cyber risk has become one of the gravest risks facing organizations, and has attracted boardroom-level attention. On the other hand, companies already manage many kinds of difficult and growing risks, and that firms lose less than 1% of annual revenues as a result of cyber incidents. Therefore, how should firms appropriately address cyber risk? Is it indeed a materially different kind of risk area, or is it simply just one more risk that can seamlessly be integrated into existing enterprise risk management (ERM) practices?

The authors performed thematic analysis based on semi-structured interviews, with non-probabilistic, purposive sampling, to answer two main questions. First, how do firms manage enterprise risks, generally? And second, how are they integrating cyber risk into these existing processes?

The authors find that there is considerable variation in the approach and sophistication in ERM practices, such as whether they are driven more like an auditing function, or as a risk champion. The authors also find that despite the novelty of cyber risk, it can be integrated like other enterprise risks, and that cyber risk is most often seen as an operational risk (similar to workplace accidents or fraud), rather than a strategic risk, emerging from, for example, technology innovation and R&D.

The generalization of the results is limited by the sample size and variation of firms interviewed. While the authors attempted to interview enterprise risk managers across a wide variation of firms, there were clear limitations in the scope. That being said, the authors were fortunate to be able to examine ERM and cyber risk practices across small and large, private and publicly traded companies, from a variety of business sectors.

The authors believe these finding are important because they present evidence that while cyber risk may be new, it does not require specialized handling or processes to track it at the enterprise level. While some firms may choose to provide special accommodations or attention because of their data collection or business practices, this approach is neither necessary nor required of all firms in all situations.

This research is one of the only papers that, to the best of the authors’ knowledge, examines how cyber risk is integrated at an enterprise level.

This paper aims to present a comprehensive assessment of the literature about the research agenda for future studies on risk management in small and medium-sized businesses (SMEs) with a research agenda for bibliometric analysis. The author's goals are to point out inconsistencies and gaps in the literature and to suggest directions for future study.

A total of 147 papers were analyzed in terms of bibliographic information, research design, and findings. These included publication by year, most cited documents, citation by year, publication by authors, publication by subject area, publication by country, publication by affiliation, funding sponsor, network representation of keyword co-occurrence, and cluster visualization of keyword co-occurrence. This study used bibliometric analysis methods, keyword searches, and suitability assessment for bibliometric analysis.

The bibliometric research revealed a number of potential risk categories for small and medium enterprises (SMEs). In addition, an analysis of the risk-related elements aimed to avoid or reduce their adverse effects, the published study highlights how crucial a risk management procedure is for SMEs. Risk factors were also shown to be unavoidable; as a result, everyone needs to practice social responsibility in order to reduce the detrimental effects on the economy.

Future studies are required on risk identification, analysis, plan implementation, and control in the context of small and medium-sized enterprise risk management.

This work represents the first in a bibliometric analysis of risk management in small and medium-sized enterprises (SMEs) for the future research agenda.

This paper explores the association between directors’ and officers’ liability insurance (D&O insurance) and management tone manipulation.

This study uses data from A-share listed non-financial companies from 2009 to 2021 as its sample for empirical tests. In addition, the study relies on text analysis and the construction of models to investigate the relationship between D&O insurance and management tone manipulation.

The authors find that the purchase of D&O insurance will lead to management tone manipulation in the “management discussion and analysis” part of companies’ annual reports, and operating risk and agent cost are the two paths for the effect. Further analysis shows that having a male CEO and employing high-quality auditors can weaken the positive impact of D&O insurance on tone manipulation.

This paper provides a new approach for studying the literature related to D&O insurance and management behavior, and the findings enrich our understanding of the influencing factors and the mechanism of management tone manipulation, thus revealing policy implications for further standardization of the terms and system of D&O insurance in China.