A Conceptual Framework for Corporate Risk Disclosure Emerging From the Agenda for Corporate Governance Reform

Solomon, John T.; Solomon, Aris; Norton, Simon; Joseph, Nathan Lael

doi:10.1006/bare.2000.0145

Cited by 227 publications

(246 citation statements)

References 22 publications

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“…This view is consistent with a sizeable strand of the literature (Solomon et al, 2000;Spira andPage 2003 andJones, 2008) which emphasizes internal control as one of the most important CG mechanisms.…”

Section: Cg From the Governmental Institutions And Bank Association'ssupporting

confidence: 89%

The corporate governance and social responsibility nexus in the Lebanese banking industry

Gali

Hajjar

Jamali

2016

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Purpose The purpose of this paper is to explore the contrasting views of banks and banking authorities in Lebanon regarding the corporate governance (CG) and corporate social responsibility (CSR) nexus. Design/methodology/approach Using survey responses collected from the managers of five Lebanese banks and banking authorities, the authors conduct a qualitative comparative study of the opinions on CG, CSR and CG–CSR nexus. Findings The findings of this paper reveal that while a CG culture is well-instituted by the authorities and that some forms of CSR are already practiced by banks, disagreements exist between the Lebanese banks and banking authorities in defining the CG–CSR nexus. While CG is viewed as an all-encompassing concept by the banking authorities, most banks ascribe to the paradigm that CG is component of CSR. Research limitations/implications The sample of this paper consists of large banks that have clear CG and CSR agendas. The results, therefore, cannot be generalized for the wider population of Lebanese companies that are characterized by family ownership and non-separation of ownership and control. Practical implications This paper informs both managers and policymakers on the differing views of the CSR–CG nexus while also contributing to informing the policy dialogue. Theoretically, this paper sheds light on the CG–CSR nexus in a developing country context. Originality/value There is a paucity of research on the CG–CSR nexus in the context of developing countries and for the banking sector in specific. This paper aims to address the gap in the literature by providing an in-depth qualitative examination of the CG, CSR and the CG–CSR nexus in the context of the Lebanese banking sector.

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Section: Cg From the Governmental Institutions And Bank Association'ssupporting

confidence: 89%

The corporate governance and social responsibility nexus in the Lebanese banking industry

Gali

Hajjar

Jamali

2016

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“…Outra classificação dos riscos passa por classificá-los numa visão backward-looking ou forward--looking (Beattie, Mcinnes & Fearnley, 2004;Beretta & Bozzolan, 2004;Lajili & Zéghal, 2005;Linsley & Shrives, 2006;Oliveira et al, 2011a;Puga, 2012;Solomon, Solomon, Norton & Joseph, 2000). Alguns estudos, como, por exemplo, o estudo de Linsley e Shrives (2006), demonstram a relutância na divulgação de informações backward-looking, ao passo que estudos como o de Beattie et al (2004), Beretta e Bozollan (2004) e Puga (2012 demonstraram o oposto.…”

Section: Enquadramento Teóricounclassified

“…Alguns estudos, como, por exemplo, o estudo de Linsley e Shrives (2006), demonstram a relutância na divulgação de informações backward-looking, ao passo que estudos como o de Beattie et al (2004), Beretta e Bozollan (2004) e Puga (2012 demonstraram o oposto. Solomon et al (2000) constataram, ainda, que os investidores preferem obter informações detalhadas/específicas sobre os riscos e não uma informação generalizada dos riscos.…”

Section: Enquadramento Teóricounclassified

A divulgação do risco nas demonstrações financeiras: uma análise ao anexo das sociedades não financeiras portuguesas

Silva

Albuquerque

Marcelino

et al. 2015

REPEC

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O presente estudo tem por objetivo analisar a divulgação do risco efetuada por parte das sociedades não financeiras Portuguesas cotadas na Euronext de Lisboa ao longo dos anos de 2011 e 2012. Foram analisadas as características da informação divulgada em matérias ligadas ao risco tendo em conta o âmbito temporal, o caráter quantitativo ou qualitativo da informação, a natureza e a classificação do risco divulgado. Os dados para este estudo foram recolhidos a partir da análise de conteúdo ao anexo dos relatórios e contas (contas consolidadas) das entidades pertencentes à população durante o período de 2011 e 2012, resultando numa população de 36 entidades. Os referidos dados foram posteriormente submetidos a técnicas de análise univariada e bivariada baseada em testes não paramétricos, nomeadamente o teste de Wilcoxon. Os resultados demonstram que predomina a divulgação de informação financeira de forma qualitativa, referente ao passado e classificada como “boas notícias”. Pretende-se que os resultados desta investigação possam contribuir para a compreensão do tema desenvolvido, como é o caso dos elementos que se encontram na base da divulgação de informação de matérias ligadas ao risco.

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“…Such information helps the users to assess the present and the future risk, which is essential to optimise their revenues, by holding well diversified portfolios (Abraham and Cox, 2007). Solomon et al (2000) showed a strong demand for increased CRD from institutional investors to improve portfolio-investment decisions. Risk disclosure helps in investors' investment decisions-making process by evaluating the information disclosed by a firm in order to establish levels of various risks it faces, then; their decision will be taken based on expected return and risk considerations (Cabedo and Tirado, 2004).…”

Section: Introductionmentioning

confidence: 99%

Determinants of narrative risk disclosures in UK interim reports

Elzahar

Hussainey

2012

The Journal of Risk Finance

285

422

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Purpose -This paper contributes to the existing disclosure literature by examining the determinants of narrative risk information in the interim reports for a sample of UK non financial companies.Methodology -This study uses the manual content analysis to measure the level of risk information in interim report narrative sections prepared by 72 UK companies. It also uses the OLS regression analysis to examine the impact of firm-specific characteristics and corporate governance mechanisms on narrative risk disclosures.Findings -The empirical analysis shows that large firms are more likely to disclose more risk information in the narrative sections of interim reports. In addition, the analysis shows that industry activity type is positively associated with levels of narrative risk disclosure in interim reports. Finally, the analysis shows statistically insignificant impact of other firmspecific characteristics (liquidity, gearing, profitability and cross-listing) and corporate governance mechanisms on narrative risk disclosure.Practical implications -The study's findings have practical implications. It informs investors about the characteristics of UK companies that disclose risk information in their interim reports. For example, the findings shows that narrative risk disclosures is affected by firm size and industry type rather than firms' risk levels (e.g. financing risk measured by the gearing ratio or liquidity risk measured by lower liquidity ratios). Practical implications for managers from these findings are that, in order to keep investors satisfied, companies with high levels of financing and liquidity risks should look at investors' demands for risk disclosure. This will help investors when making their investment decisions.Originality/value -The determinants of narrative risk disclosure in interim reports has not been explored so clearly in prior research and therefore this study is the first of its kind to examine this research issue for a sample of UK companies.

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A Conceptual Framework for Corporate Risk Disclosure Emerging From the Agenda for Corporate Governance Reform

Cited by 227 publications

References 22 publications

The corporate governance and social responsibility nexus in the Lebanese banking industry

The corporate governance and social responsibility nexus in the Lebanese banking industry

A divulgação do risco nas demonstrações financeiras: uma análise ao anexo das sociedades não financeiras portuguesas

Determinants of narrative risk disclosures in UK interim reports

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