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| Tekijä: | Abraham, S. Cox, P. |
| Otsikko: | Analysing the determinants of narrative risk information in UK FTSE 100 annual reports |
| Lehti: | British Accounting Review
2007 : SEP, VOL. 39:3, p. 227-248 |
| Asiasana: | company reports information disclosure risk reporting corporate governance United Kingdom |
| Vapaa asiasana: | institutional ownership |
| Kieli: | eng |
| Tiivistelmä: | This paper examines the relationship btw. the quantity of narrative risk information in corporate (here as: corp.) annual reports and ownership, governance, (as: gov.) and U.S. listing characteristics. Among others, it is found that corp. risk reporting is negatively related to share ownership by long-term institutions. Thus, this study's results put forth that this important class of institutional investors has investment preferences for firms with a lower level of risk disclosure. As to the gov., it is found that different types of board directors (as: dirs.) fulfill different functions, with both the number of executives (as: execs.) and independent dirs. positively related to the level of corp. risk reporting, but not the number of dependent non-exec. dirs. This supports a recent emphasis in the U.K. on the independent aspects of non-exec. dirs. for good corp. gov. |
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