Skip navigation
User training | Reference and search service

Library catalog

EDS
b-on
More
resources
Content aggregators
Please use this identifier to cite or link to this item:

acessibilidade

http://hdl.handle.net/10071/13659
acessibilidade
Title: Risk‐related disclosures by non‐finance companies: portuguese practices and disclosure characteristics
Authors: Oliveira, J.
Rodrigues, L. L.
Craig, R.
Keywords: Risk disclosure
Management
Agency
Legitimacy
Resources‐based
Portugal
Issue Date: 2011
Publisher: Emerald Group Publishing Limited
Abstract: The purpose of this paper is to assess the risk‐related disclosure (RRD) practices in annual reports for 2005 Portuguese companies in the non‐finance sector. The paper conducts a content analysis of a sample of 81 companies (42 listed and 39 unlisted). In considering corporate governance effects, the sample is reduced to the 42 listed companies that are required to disclose a corporate governance report. Implementation of IAS/IFRS and the European Union's Modernisation Directive in 2005 did not affect the quantity and quality of RRD positively. Disclosures are generic, qualitative and backward‐looking. Public visibility (as assessed by size and environmental sensitivity) is a crucial influence in explaining RRD: companies appear to manage their reputation through disclosure of risk‐related information. Agency costs associated with leverage are important influences also. In listed companies, the presence of independent directors improves the level of RRD. Content analysis does not allow readily for in‐depth qualitative inquiry. The coding instrument is subject to coder bias. Information about risk can be provided in sources other than annual reports. The study is confined to one year/one country and pre‐dates the global financial crisis (GFC) (2008) and the implementation of IFRS 7 (2007). The results point to the desirability of enhancing accountability by mandating further disclosure of substantive and relevant risk‐related information in company annual reports. The RRD observed are shown to be explained by a confluence of agency theory, legitimacy theory and resources‐based perspectives.
Peer reviewed: yes
URI: https://ciencia.iscte-iul.pt/id/ci-pub-24710
http://hdl.handle.net/10071/13659
DOI: 10.1108/02686901111171466
ISSN: 0268-6902
Publisher version: The definitive version is available at: http://dx.doi.org/10.1108/02686901111171466
Appears in Collections:BRU-RI - Artigos em revistas científicas internacionais com arbitragem científica

Files in This Item:
acessibilidade
File Description SizeFormat 
RRD_by_non_finance_companies.pdf193.55 kBAdobe PDFView/Open


FacebookTwitterDeliciousLinkedInDiggGoogle BookmarksMySpace
Formato BibTex MendeleyEndnote Currículo DeGóis 

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.