Consistency of Risk Reporting in Financial Services Firms

Sundmacher, Maike

doi:10.2139/ssrn.963245

Cited by 8 publications

(8 citation statements)

References 6 publications

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“…However, risk disclosure practices are difficult to compare (Oliveira et al, 2011); banks do not yet provide full risk disclosure, and managers could be reluctant to provide too much information to avoid being judged and giving advantages to competitors (Linsley and Shrives, 2005). Disclosure of operational risk varies across institutions (Sundmacher, 2006); it is greater in extent and is inversely related to equity ratio and return on assets (Helbok and Wagner, 2005). Using a sample of European banks, Barakat and Hussainey (2013) show that corporate governance and regulation are the main drivers of operational risk disclosure reporting.…”

Section: Accepted Manuscriptmentioning

confidence: 99%

“…Moreover, it represents the main technique adopted by the existing literature in this field (i.e., Baumann and Nier, 2004;Höring and Gründl, 2011;Linsley and Shrives, 2006;Sundmacher, 2006).…”

Section: Qualitative Disclosure Versus Quantitative Disclosurementioning

confidence: 99%

“…Thus, the focus is on risk disclosure practices (as in Abraham and Cox, 2007;Barakat and Hussainey, 2013;Barako et al, 2006;Beretta and Bozzolan, 2004;Deumes, 2008;Hail, 2011;Helbok and Wagner, 2005;Höring and Gründl, 2011;Lajili and Zeghal, 2005;Linsley and Shrives, 2005;Linsley and Shrives, 2006;Oliveira et al, 2011;Perignon and Smith, 2010;Sundmacher, 2006;van Oorschot, 2010), and the analysis of disclosure quantity refers to the risk management section because it is a crucial activity and a source of value creation for financial intermediaries, which can be defined as risk-taking enterprises and thus are expected to disclose risk-related information. Moreover, the global financial crisis, which took hold in the third quarter of 2008, has left important challenges for insurance companies to face, resulting in stronger attention to risk management activities to highlight their disconnection from the financial crisis.…”

Section: Accepted Manuscriptmentioning

confidence: 99%

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The nature and determinants of disclosure practices in the insurance industry: Evidence from European insurers

Malafronte

Porzio

Starita

2016

International Review of Financial Analysis

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Filling a gap in the existing literature on disclosure practices by insurance companies, this research provides new empirical evidence on the nature and determinants of disclosure practices in the European insurance industry over the 2005-2010 period. The main results show that insurers are more inclined to invest in the quantity of risk information rather than in the disclosure quality of the entire annual report, as risk information is addressed to high-level financially educated people and requires fewer resources than are needed for an investment in quality. Further, the analysis also shows that insurer level characteristics, in terms of size and technical provisions, as well as country level variables, significantly affect the amount of risk information disclosed. In the years affected by the financial crisis, the level of risk disclosure quantity increases as insurers use disclosure as a tool to reassure stakeholders on their independence from the global financial crisis

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Section: Accepted Manuscriptmentioning

confidence: 99%

Section: Qualitative Disclosure Versus Quantitative Disclosurementioning

confidence: 99%

Section: Accepted Manuscriptmentioning

confidence: 99%

See 1 more Smart Citation

The nature and determinants of disclosure practices in the insurance industry: Evidence from European insurers

Malafronte

Porzio

Starita

2016

International Review of Financial Analysis

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“…Risk disclosure practices are difficult to compare (Oliveira et al, 2011), banks do not yet provide full risk disclosure and managers could be reluctant to provide too much information not to be judged and not to give advantages to competitors (Linsley and Shrives, 2005). Operational risk disclosure varies across institutions, is descriptive and qualitative (Sundmacher, 2006); it increased in both extent and content and is inversely related to equity ratio and ROA (Helbok and Wagner, 2005).…”

Section: Disclosure Practices: the Duality Between Quality And Quantitymentioning

confidence: 99%

Disclosure Practices and Financial Crisis: Empirical Evidences in the European Insurance Industry

2014

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“…Finalmente, o objetivo de Sundmacher (2006) foi examinar a natureza da divulgação do risco operacional em bancos internacionais, a consistência dessa divulgação e sua utilidade. A análise baseou-se nos relatórios anuais de 2004 e de 2005 de 57 instituições financeiras internacionais e restringiu-se aos requerimentos presentes no pilar 3 relacionados ao risco operacional.…”

Section: Estudos Empíricos Relacionados à Divulgação Do Risco Operaciunclassified

Análise do nível de divulgação do risco operacional segundo recomendações do comitê da Basiléia: estudo em bancos do país e do exterior

Alves

Cherobim

2009

RAM, Rev. Adm. Mackenzie

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Este estudo buscou verificar os níveis de divulgação do risco operacional de 24 bancos do país e de 9 do exterior, segundo recomendações do Comitê da Basiléia, em 31 de dezembro de 2003 e 31 de dezembro de 2004. Realizaram-se revisão teórica e pesquisa documental, com o propósito de analisar o conteúdo de relatórios anuais e outros instrumentos de divulgação. A amostra baseou-se no relatório "50 maiores bancos" do Banco Central do Brasil. A análise empregou 9 categorias e 18 subcategorias baseadas em recomendações do Comitê, na revisão teórica e em pesquisa exploratória em que se coletou opinião de profissionais relativa às categorias e subcategorias. Aplicaram-se testes não paramétricos. Constatou-se que os níveis de divulgação de bancos do país e do exterior em 2003 foram, respectivamente, 17,13% e 77,78%, e em 2004, 24,31% e 81,48%. Os testes indicaram que os bancos do exterior divulgaram mais subcategorias e que a quantidade de subcategorias divulgadas pelos dois grupos de bancos aumentou em 2004.

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Consistency of Risk Reporting in Financial Services Firms

Cited by 8 publications

References 6 publications

The nature and determinants of disclosure practices in the insurance industry: Evidence from European insurers

The nature and determinants of disclosure practices in the insurance industry: Evidence from European insurers

Disclosure Practices and Financial Crisis: Empirical Evidences in the European Insurance Industry

Análise do nível de divulgação do risco operacional segundo recomendações do comitê da Basiléia: estudo em bancos do país e do exterior

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