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Open research questions in Risk Management in Financial Firms

54 unresolved questions extracted from the limitations and future-work sections of 1,067 Risk Management in Financial Firms papers in our library. Each links back to the study that raised it.

What the literature leaves open

  • The lack of empirical studies examining operational and institutional issues influencing risk management efficacy in government agencies - The need to examine how organisational characteristics affect departmental risk management outcomes

    Exploring Factors Affecting Risk Management Effectiveness in the Department of Employment and Labour: A Western Cape Provincial Perspective · 2026 · DOI

  • Managing ESG risks is a challenge for companies, particularly those with high leverage. Companies face operational costs and reputational risk due to high ESG risk. Investors face difficulties in making informed investment decisions due to limited ESG risk disclosure.

    The Effect of ESG Risk Rating on Corporate Profitability: The Role of Firm Size and Leverage as Moderating Variables · 2026 · DOI

  • The complexity of the energy value chain. The risk of commodity market volatility, geopolitical uncertainty, regulatory pressures, and high-consequence operational risks. The need to integrate risk considerations into strategic decision-making.

    Transformation of the Risk Management Role from Second Line to One Point Five Line of Defense in Supporting Corporate Governance, Value Protection, and Value Creation: A Case Study of Implementation in an Indonesian Oil and Gas Company · 2026 · DOI

  • Economic turbulence has a significant impact on the reliability of management information. The integration of control and reporting remains challenging due to variations in institutional maturity. The increasing turbulence and entropy of business processes complicate investment decisions.

    Internal Control System as a Factor of Reliability in Management Reporting Under Conditions of Economic Turbulence · 2026 · DOI

  • The paper mentions the challenge of managing financial activities in conditions of high variability, uncertainty, and risk. The paper highlights the need to consider the peculiarities of agro-industrial enterprises when forming a financial controlling system.

    Conceptual principles of forming a system of financial control of agricultural enterprises · 2026 · DOI

  • The complexity and diversity of stakeholders in school-enterprise cooperation. The intertwined interests and risks inherent in industry-education integration. The need for a comprehensive financial risk management framework.

    Risk Prevention in Financial Management at Higher Vocational Colleges against the Background of Industry-Education Integration · 2026 · DOI

  • The traditional interpretation of investment support as a mere set of resources is insufficient. There is a need for an integrated strategic management system that combines investment needs identification, risk assessment, and managerial decision adjustment.

    Architecture of strategic management of the development of investment provision of an enterprise in conditions of economic instability · 2026 · DOI

  • Limited financial resources. Insufficient trained personnel. Fragmented regulatory frameworks with weak enforcement.

    BARRIERS TO RISK MANAGEMENT ADOPTION AMONG PROPERTY DEVELOPERS IN ABUJA, NIGERIA: A MULTI-DIMENSIONAL EMPIRICAL ANALYSIS · 2026 · DOI

  • Future research may explore the application of stochastic systems to risk assessment. Future research may examine the role of the Office of Management and Budget in more detail.

    Report on Reports: Risk Assessment in the Federal Government: Managing the Process · 1983 · DOI

  • The paper identifies a gap in the current system of risk assessment. The paper suggests that the current system may be subject to political manipulation.

    Report on Reports: Risk Assessment in the Federal Government: Managing the Process · 1983 · DOI

  • Based on the findings of the study on the effect of financial risk on the profitability of listed oil and gas companies in Nigeria, the following recommendations are made: 1. Effective Management of Foreign Exchange Risk. Since foreign exchange risk was found to have a negative and statistically significant effect on profitability, listed oil and gas companies should adopt effective foreign exchange risk management strategies. Firms should make use of hedging instruments such as forward contracts, currency swaps, and futures to reduce the adverse effects of exchange rate volatility on their operations and financial performance. 2. Strategic Interest Rate Risk Management. Given that interest rate risk showed a positive and significant relationship with profitability, companies should develop sound financial strategies to take advantage of favourable interest rate movements. Firms should maintain a balanced capital structure and carefully manage their borrowing and investment decisions to optimize returns during periods of interest rate fluctuations. Improved Credit Risk Assessment and Monitoring. Although credit risk was not statistically significant, its negative relationship with profitability suggests the need for better credit management practices. Oil and gas companies should strengthen their credit assessment procedures, implement strict credit policies, and regularly monitor receivables to minimize the possibility of default and improve financial performance. 3. GJSH 173 4. Enhancement of Liquidity Management Practices. The negative relationship between liquidity risk and profitability indicates that poor liquidity management can adversely affect firm performance. Companies should maintain adequate liquidity levels, adopt efficient working capital management strategies, and ensure proper cash flow planning to meet short-term financial obligations without affecting operational efficiency. 5. Adoption of Comprehensive Risk Management Frameworks. Oil and gas companies should implement comprehensive financial risk management frameworks that integrate credit risk, liquidity risk, foreign exchange risk, and interest rate risk management. This will help firms identify, assess, and mitigate potential financial risks that may affect profitability and long-term sustainability. 6. Policy Support and Macroeconomic Stability. Regulatory authorities and policymakers should implement policies that promote exchange rate stability and a favourable financial environment. Stable macroeconomic policies will help reduce uncertainties associated with financial risks and improve the profitability and competitiveness of listed oil and gas companies in Nigeria.

    EFFECT OF FINANCIAL RISK ON PROFITABILITY OF LISTED OIL AND GAS COMPANIES IN NIGERIA · 2026 · DOI

  • In response to these challenges, several recommendations are proposed to improve risk management effectiveness within the department. Firstly, there is a need to prioritise capacity building through regular training and workshops aimed at strengthening employees’ understanding of risk management principles and practices (Ahmed et al., 2025; Sikhupelo & Amoah, 2026). Secondly, senior management should demonstrate stronger commitment by actively promoting and integrating risk management into organisational decision-making processes, as leadership support is critical for effective governance (Al- Dubai & Alotaibi, 2023; Bracci et al., 2021). Improving internal communication systems is also essential to ensure effective sharing of risk-related information across departments and organisational levels (Gbabo et al., 2022). Furthermore, the department should allocate adequate financial resources, skilled personnel, and appropriate technological systems to support the implementation of risk management practices (Filemon et al., 2024; Judijanto et al., 2024). Efforts should also be made to cultivate a riskaware organisational culture in which employees recognise risk management as a core organisational function rather than a compliance exercise (Bracci et al., 2021; Yahaya, 2026). Finally, simplifying compliance procedures and providing clear guidance and support will assist employees in effectively understanding and applying governance and regulatory requirements (Maseko & Manyaka, 2021). Collectively, these measures will strengthen institutional capacity and support a more proactive, integrated, and effective approach to risk management within the public sector. Practical, Policy, and Managerial Implications The study highlights the need for an integrated Enterprise Risk Management (ERM) approach within the Department of Education and the broader public sector. It suggests positioning ERM as a strategic tool to enhance resilience and performance by embedding it into decision-making and strategic planning. Key stakeholders, including senior management and auditors, are crucial for reinforcing risk governance and accountability. The research advocates for updating current risk management frameworks to align Discover publication opportunities: www.wr-publishing.org International Journal of Applied Research in Business and Management (ISSN: 2700-8983) Volume: 07 Issue: 05 Year: 2026 https://doi.org/10.51137/wrp.ijarbm.655 with modern governance, improving risk ownership, reporting, and accountability. Leadership commitment is vital for effective implementation, requiring adequate resource allocation and a culture of proactive risk management.

    Exploring Factors Affecting Risk Management Effectiveness in the Department of Employment and Labour: A Western Cape Provincial Perspective · 2026 · DOI

  • The study identifies a gap in the understanding of how decision-maker risk propensity influences investments in proactive and reactive risk management. The study also identifies a gap in the understanding of how organizations can adopt dynamic risk assessment tools to accommodate changing circumstances.

    Adaptive risk assessment: How massive disruption moderates risk propensity and organisational risk management strategies—lessons from COVID-19 · 2026 · DOI

  • The upcoming research should investigate how artificial intelligence and other technological advancements change risk management processes. The study recommends conducting comparative research among different government departments.

    Investigating the role of risk management in enhancing service delivery at the department of employment and labour · 2026 · DOI

  • The study identifies a gap in the current risk management system of the DEL organization. The DEL organization requires an all-encompassing risk management system.

    Investigating the role of risk management in enhancing service delivery at the department of employment and labour · 2026 · DOI

  • The disconnect between risk prevention and internal control is currently the primary factor. Weak oversight mechanisms also contribute to barriers between internal control and risk management.

    Research on the Synergistic Mechanism of Internal Control and Risk Management in Enterprises · 2026 · DOI

  • The study has a limited observation period. The study uses a single measure of profitability, Net Profit Margin (NPM). The study only examines the effect of ESG risk on profitability in the context of Indonesian listed companies.

    The Effect of ESG Risk Rating on Corporate Profitability: The Role of Firm Size and Leverage as Moderating Variables · 2026 · DOI

  • There is a governance gap when the responsibility to create and protect company value lies with the first line, but it is not equipped with an adequate risk control mechanism from the second line. The traditional Second Line risk management function is often ineffective in influencing business decisions.

    Transformation of the Risk Management Role from Second Line to One Point Five Line of Defense in Supporting Corporate Governance, Value Protection, and Value Creation: A Case Study of Implementation in an Indonesian Oil and Gas Company · 2026 · DOI

  • Future research may explore the link between cash holdings and new emerging types of risk, namely ESG risk, cybersecurity risk, climate risk, or geopolitical risk.

    Scientific mapping of 20 years of literature on corporate cash holdings and risk · 2026 · DOI

  • The study identifies a gap in the existing literature on the development of comprehensive systems of metrics to evaluate the effectiveness of management decisions during crisis periods. The research highlights the need for adaptive management metrics that prioritize liquidity maintenance, resource optimization, and strategic flexibility over short-term profit maximization.

    Metrics of Management Effectiveness: Decision-Making in Enterprises During Crisis Periods · 2026 · DOI

  • There is a gap between theoretical implications and empirical evidence of the impact of internal control on management reporting. The study aims to fill this gap by providing empirical evidence on the stabilising role of internal control systems in volatile environments.

    Internal Control System as a Factor of Reliability in Management Reporting Under Conditions of Economic Turbulence · 2026 · DOI

  • The paper identifies a gap in the literature regarding the conceptual principles of forming a financial controlling system for agro-industrial enterprises. The paper highlights the need for a theoretical framework for financial controlling in agro-industrial enterprises.

    Conceptual principles of forming a system of financial control of agricultural enterprises · 2026 · DOI

  • The lack of a comprehensive financial risk management framework in higher vocational colleges. The inadequacy of traditional financial management models in addressing financial risks under industry-education integration.

    Risk Prevention in Financial Management at Higher Vocational Colleges against the Background of Industry-Education Integration · 2026 · DOI

  • Future research should focus on developing more sophisticated crisis-resilient financial planning frameworks for the media industry. It should explore the application of these frameworks in different economic contexts.

    Crisis-Resilient Financial Planning: Lessons from Media Industry Operations During Global Economic Disruptions · 2026 · DOI

  • The media industry lacks a comprehensive understanding of crisis-resilient financial planning. There is a need to develop strategies that can help media organizations maintain operational stability during economic disruptions.

    Crisis-Resilient Financial Planning: Lessons from Media Industry Operations During Global Economic Disruptions · 2026 · DOI

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54 open questions have been extracted from the limitations and future-work passages of 1,067 Risk Management in Financial Firms papers in our library. Each one below links back to the study that raised it, so you can read the original claim in context.

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