Are risk disclosures an effective tool to increase firm value?

被引：22
|
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
收藏
页码：1116 / 1124
页数：9
相关论文
共 50 条
  • [1] Risk disclosures and firm value: the role of governance in an emerging market
    Jain, Surbhi
    Raithatha, Mehul
    INTERNATIONAL JOURNAL OF PRODUCTIVITY AND PERFORMANCE MANAGEMENT, 2022, 71 (08) : 3205 - 3227
  • [2] Relationship between Risk Disclosures and Firm risk
    Jia Weiying
    Chen Baofeng
    CALL OF PAPER PROCEEDINGS OF 2008 INTERNATIONAL CONFERENCE ON MANAGEMENT SCIENCE AND ENGINEERING, 2008, : 1047 - 1051
  • [3] Environmental and Social Disclosures and Firm Risk
    Mohammed Benlemlih
    Amama Shaukat
    Yan Qiu
    Grzegorz Trojanowski
    Journal of Business Ethics, 2018, 152 : 613 - 626
  • [4] Environmental and Social Disclosures and Firm Risk
    Benlemlih, Mohammed
    Shaukat, Amama
    Qiu, Yan
    Trojanowski, Grzegorz
    JOURNAL OF BUSINESS ETHICS, 2018, 152 (03) : 613 - 626
  • [5] Firm Use of Cybersecurity Risk Disclosures
    Jiang, Wanying
    Legoria, Joseph
    Reichelt, Kenneth J.
    Walton, Stephanie
    JOURNAL OF INFORMATION SYSTEMS, 2022, 36 (01) : 151 - 180
  • [6] Does Enterprise Risk Management Increase Firm Value?
    McShane, Michael
    Nair, Anil
    Rustambekov, Elzotbek
    JOURNAL OF ACCOUNTING AUDITING AND FINANCE, 2011, 26 (04): : 641 - 658
  • [7] The Effects of Shareholders' Rights, Disclosures, and Transparency on Firm Value
    Sumatriani, Sumatriani
    Pagulung, Gagaring
    Said, Darwis
    Pontoh, Grace T.
    Jamaluddin, Jamaluddin
    JOURNAL OF ASIAN FINANCE ECONOMICS AND BUSINESS, 2021, 8 (03): : 383 - 390
  • [8] How does Enterprise Risk Management Increase Firm Value?
    Zhang Ying
    Lu Ningning
    PROCEEDINGS OF 2013 CHINA INTERNATIONAL CONFERENCE ON INSURANCE AND RISK MANAGEMENT, 2013, : 124 - 133
  • [9] ENVIRONMENTAL DISCLOSURES, REGULATORY COSTS, AND CHANGES IN FIRM VALUE
    BLACCONIERE, WG
    PATTEN, DM
    JOURNAL OF ACCOUNTING & ECONOMICS, 1994, 18 (03): : 357 - 377
  • [10] Joint impact of corporate governance and risk disclosures on firm value: Evidence from emerging markets
    Khandelwal, Chandni
    Kumar, Satish
    Tripathi, Vibha
    Madhavan, Vinodh
    RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2023, 66
12345