The board's role in risk disclosure: an exploratory study of Italian listed state-owned enterprises

Alessandra Allini, Francesca Manes Rossi, Khaled Hussainey

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Abstract

The determinants of risk disclosure in the annual reports of listed state-owned enterprises (SOEs) have yet to be fully explored. This paper examines the potential impact of the composition of the boards of directors and other company-specific features on risk disclosure levels. The presence of women on a board made a significant difference to risk disclosure, as did the age of board members. Board directors having an accounting or finance/business qualification affected risk disclosure negatively; company size and an internet visibility were positively related to risk disclosure. Although an Italian study, the lessons here will have application to academia and to practitioners, policy-makers and standard-setters worldwide.
Original languageEnglish
Pages (from-to)113-120
JournalPublic Money & Management
Volume36
Issue number2
Early online date11 Dec 2015
DOIs
Publication statusPublished - 23 Feb 2016

Keywords

  • agency theory
  • board of directors
  • corporate governance
  • risk disclosure
  • state-owned enterprises

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