Improving the relevance of risk factor disclosure in corporate annual reports

被引：135
作者：
Abraham, Santhosh [1 ]
Shrives, Philip J. [2 ]
机构：
[1] Heriot Watt Univ, Sch Management & Languages, Edinburgh EH14 4AS, Midlothian, Scotland
[2] Northumbria Univ, Newcastle Business Sch, Fac Business & Law, Newcastle Upon Tyne NE1 8ST, Tyne & Wear, England
来源：
BRITISH ACCOUNTING REVIEW | 2014年 / 46卷 / 01期
关键词：
Voluntary disclosure; Risk reporting; Corporate guidance; EARNINGS;
D O I：
10.1016/j.bar.2013.10.002
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
This research develops a model for assessing the quality of risk disclosures and applies the proposed model to four companies in the food production and processing sector. We contribute to the literature by extending prior work on risk disclosure quality using a longitudinal approach to assess the quality of risk reporting. While previous studies have described disclosure practices, this paper adopts a normative approach to disclosure. By suggesting a way of improving risk reporting disclosures, the paper provides guidance for current and future company managers. In line with previous research, this paper identifies certain problems with existing risk disclosures. Results suggest that company managers prefer providing disclosures that are symbolic rather than substantive. We argue that institutional factors and proprietary costs contribute towards and can explain this behaviour. In suggesting a way forward we highlight the role that stakeholders including managers, users, regulators and auditors can play in improving the quality of risk reporting. Flexibility in reporting could be maintained by adopting a properly monitored 'comply or explain' approach. (C) 2013 Elsevier Ltd. All rights reserved.
引用
收藏
页码：91 / 107
页数：17
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