A systematic literature review on risk disclosure research: state-of-the-art and future research agenda  

Awad Ibrahim*, Khaled Hussainey, Tasawar Nawaz, Collins Ntim, Ahmed A. Elamer

*Corresponding author for this work

    Research output: Contribution to journalArticlepeer-review

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    This study presents a systematic review of the existing literature on corporate risk disclosure (RD). The study reviews 104 studies published in 51 high-ranked journals over the period 1999–2019 following the systematic literature review methodology developed and employed by past works. The results highlight the substantial knowledge gaps and inconclusive findings of extant literature in several aspects, including identifying avenues for further research in terms of research designs, settings, scope and theories. The findings also indicate that limited studies focus on developing countries, private institutions, and non-profit organizations. Similarly, our findings show that existing research that examines other firm and cross-country drivers of risk, such as national accounting, auditing, economic, governance, language, and legal systems, are not well documented. By contrast, our review illustrates that there is an increase in the number of studies published in recent years with over one half of those that we review in this research published in the last six years of our sample period. Furthermore, our results suggest that past review studies have also focused excessively on the immediate firm-level characteristics, such as firm size, growth, leverage, value, and cost of capital. The findings of our review will be of great interest to academics, accounting standard-setters, managers and practitioners, policymakers, regulators, researchers, and students.
    Original languageEnglish
    Article number102217
    Number of pages23
    JournalInternational Review of Financial Analysis
    Early online date3 Jun 2022
    Publication statusPublished - 1 Jul 2022


    • risk disclosure
    • systematic review
    • IFRS7
    • Basel committee
    • SOX


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