Utilize este identificador para referenciar este registo:
https://hdl.handle.net/1822/15415
Título: | Risk-related disclosures by non-finance companies : Portuguese practices and disclosure characteristics |
Autor(es): | Oliveira, Jonas Rodrigues, Lúcia Lima Craig, Russell |
Palavras-chave: | Risk Management Agency Legitimacy Resources-based Portugal Risk disclosure |
Data: | 2011 |
Editora: | Emerald Group Publishing Limited |
Revista: | Managerial Auditing Journal |
Resumo(s): | Purpose – 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. Design/methodology/approach – 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. Findings – 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. Research limitations/implications – 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). Originality/value – 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. |
Tipo: | Artigo |
URI: | https://hdl.handle.net/1822/15415 |
DOI: | 10.1108/02686901111171466 |
ISSN: | 0268-6902 |
Versão da editora: | The original publication is available at www.emeraldinsight.com |
Arbitragem científica: | yes |
Acesso: | Acesso restrito UMinho |
Aparece nas coleções: | iMARKE - Publicações em Revistas (com revisão por pares) / Articles in Journals (peer reviewed) |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
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Oliveira, Rodrigues & Craig - MAJ2011.pdf Acesso restrito! | 1,07 MB | Adobe PDF | Ver/Abrir |