Unveiling risk management dynamics in family businesses through a bibliometric analysis

Purpose: The purpose of this research is to offer an updated picture of the academic state-of-art of the literature about risk management in family businesses. Furthermore, the study aims to outline possible future stream of research, being a helpful resource for future scholars. Design/methodology/approach: Research using an integrative view, encompassing both bibliometric analysis and manual review has been conducted. The data were collected from Scopus and Web of Science databases. Findings: The key findings highlight that family businesses, despite their importance to the global economy, often neglect risk management, exposing themselves to significant risk factors. The analysis shows an increase in scientific production on this topic in recent years but emphasizes the need for further research, especially in different cultural contexts and with both quantitative and qualitative methods. The document also suggests that both informal and formal risk management practices should be studied more thoroughly to better understand the interaction between social capital and governance structures in family businesses. Research limitations/implications: The study’s limitations include reliance on two databases and English-language articles only. Additionally, excluding non-peer-reviewed materials and narrow keyword selection may have impacted the findings. Originality/value: This study offers an updated view of the literature of the last years highlighting the latest trends. The article offers suggestions for future research to guide investigations into currently under-represented areas.