Digital Governance, Risk-Based Regulation, and Cyber Risk Management: A Systematic Literature Review

Abstract

Digital transformation has become a strategic element in modern organizational renewal, driving the need for more adaptive information technology governance, data regulation, and risk management. This study presents a Systematic Literature Review of academic publications over the past five years to identify conceptual developments, governance practices, and cybersecurity challenges in an increasingly complex digital environment. The results of the analysis show that the success of digital transformation is not only determined by the adoption of technology, but also by the dynamic capabilities, quality of data governance, and resilience of the system to cyber threats. The risk-based regulatory approach stands out as an important framework for balancing innovation with consumer protection, although its effectiveness is influenced by the harmonization of technical standards and institutional capacity. The study also found significant limitations in the availability of cyber incident data, which hindered evidence-based risk assessments and more precise policy formation. These findings underscore the need for a digital strategy that is integrated with IT governance, enhanced analytics capabilities, and strengthened security culture to ensure the continued value of organizational digitalization.