UAE corporations‐specific characteristics and level of risk disclosure

Mostafa Kamal Hassan

222 citations0/0 files storedManagerial Auditing Journal

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Auditing, Earnings Management, Governance Corporate Social Responsibility Reporting Risk Management in Financial Firms

Abstract

Abstract Purpose – The purpose of this paper is to explore the relationship between the UAE corporations‐specific characteristics, mainly – size, level of risk, industry type and reserves – and level of corporate risk disclosure (CRD). Design/methodology/approach – Since the UAE is an emerging capital market, the paper relies on the positive accounting and the institutional theories to generate testable hypotheses and explain the empirical findings. The paper draws results depending on a sample of 41 corporations. A risk disclosure index – based on accounting standards, prior literature, and the UAE regulatory framework – has been crafted and calculated for each corporation in the sample. The relationship between the level of CRD and corporations' characteristics is examined using multiple regression analysis. Findings – The results show that corporate size is not significantly associated with the level of CRD. However, the corporate level of risk and corporate industry type are significant in explaining the variation of CRD. Finally, in contrast with reserves‐CRD hypothesized relationship, corporate reserve is insignificant and negatively associated with level of CRD. Research limitations/implications – The risk disclosure index items reflect their existence in annual reports rather than their level of importance. Practical implications – The empirical findings suggest that corporate reserve, as an explanatory variable, needs further investigation as explained in the paper. Originality/value – The crafting process of the CRD index depends on the UAE regulatory framework. The paper seems to add to the extremely limited literature relating to CRD in Arab countries in general and the UAE in particular.

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References

2001Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature 1991Strategic Responses to Institutional Processes 1985Positive Accounting Theory 1991STRATEGIC RESPONSES TO INSTITUTIONAL PROCESSES 1993Cross-Sectional Determinants of Analyst Ratings of Corporate Disclosures 2001Financial accounting information and corporate governance 2006Factors Influencing Voluntary Corporate Disclosure by Kenyan Companies 1995The determinants of voluntary financial disclosure by Swiss listed companies

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