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 Risk reporting practices by companies in the non finance sector: evidence from Portugal
Please use this identifier to cite or link to this item http://hdl.handle.net/10773/6833

title: Risk reporting practices by companies in the non finance sector: evidence from Portugal
authors: Oliveira, Jonas
Rodrigues, Lúcia Lima
keywords: Financial reporting
Risk
Risk management
Content analysis
issue date: 2011
abstract: Some theories, as agency theory or signalling theory raised the problem related with the information asymmetry between the shareholders and the managers. One way of reducing this asymmetry is to pressure the companies to disclose more risk-related information. In our research we try to determine the risk reporting practices among Portuguese non-financial companies. For this purpose a content analysis of 81 individual and consolidated annual reports, from the year 2005, of Portuguese companies listed on the Eurolist Lisbon stock exchange market, and on the un-regulated market and not listed companies was made. We concluded that managers, at the time of reporting information about risk, adopt strategies of “impression management” consistent with the attribution theory. We also conclude that almost all of the information disclosed was generic, qualitative and backward-looking, expressing a gap between the risk reporting practices and the usefulness of this kind of information. Therefore, this study is relevant for risk disclosure regulation.
URI: http://hdl.handle.net/10773/6833
publisher version/DOI: http://dx.doi.org/10.1108/02686901111171466
source: 1st European Risk Conference, European Risk Research Network
appears in collectionsISCA - Comunicações

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