Are risk disclosures an effective tool to increase firm value?

被引：23

作者：

Bravo, Francisco ^{[1
]}

机构：

[1] Univ Seville, Dept Accounting & Financial Econ, Av Ramon & Cajal,1, Seville 41018, Spain

来源：

MANAGERIAL AND DECISION ECONOMICS | 2017年 / 38卷 / 08期

关键词：

CORPORATE REPUTATION; VOLUNTARY DISCLOSURE; ASSOCIATION; GOVERNANCE; MANAGEMENT; LEVEL; COST; DETERMINANTS; PERFORMANCE; STRATEGIES;

D O I：

10.1002/mde.2850

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The objective of this paper is to test the effect of risk disclosures on firm value. The results show that the disclosure of information on risks is positively associated with the value of a firm. In addition, our findings highlight that this association is mediated by corporate reputation, which improves for enhanced risk disclosure practices. This evidence is particularly important to understand the usefulness of the disclosure of information on risks in the dialogue between a firm and its stakeholders. Managers and regulators can better understand the consequences of the communication of information on risks.

引用

页码：1116 / 1124

页数：9

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