Resumen

HERNANDEZ MADRIGAL, Mónica; AIBAR GUZMAN, Beatriz  y  AIBAR GUZMAN, Cristina. Determinants of corporate risk disclosure in large Spanish companies: a snapshot. Contad. Adm [online]. 2015, vol.60, n.4, pp.757-775. ISSN 0186-1042.  https://doi.org/10.1016/j.cya.2015.05.014.

Improvements in risk disclosure have been an important part of the corporate governance reforms. This paper is intended to identify the factors that explain the extent to which a sample of 35 listed Spanish firms disclose risk-related information. This study focuses on the risk disclosures made in the corporate governance reports during the year 2009. Using the content analysis technique an index was developed in order to assess the amount and quality of the risk information disclosed by Spanish companies. Several characteristics were selected and their influence on the level of risk disclosure was tested empirically. Results indicate that sector and risk level are positively related to the extent of corporate risk disclosures. This study adds to the international research on risk disclosure by extending the scope of the current understanding of risk reporting practices and their determinants. The findings could be especially useful for regulators and policy-makers in order to enhance risk disclosure and to improve transparency.

Palabras llave : Corporate governance; Risk reporting; Content analysis; Stakeholders.