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UAE corporations‐specific characteristics and level of risk disclosure

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  • Mostafa Kamal Hassan

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.

Suggested Citation

  • Mostafa Kamal Hassan, 2009. "UAE corporations‐specific characteristics and level of risk disclosure," Managerial Auditing Journal, Emerald Group Publishing Limited, vol. 24(7), pages 668-687, July.
  • Handle: RePEc:eme:majpps:02686900910975378
    DOI: 10.1108/02686900910975378
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    Citations

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    Cited by:

    1. Shamsun Nahar & Mohammad Istiaq Azim & Md Moazzem Hossain, 2020. "Risk disclosure and risk governance characteristics: evidence from a developing economy," International Journal of Accounting & Information Management, Emerald Group Publishing Limited, vol. 28(4), pages 577-605, April.
    2. Vitolla, Filippo & Raimo, Nicola & Campobasso, Francesco & Giakoumelou, Anastasia, 2023. "Risk disclosure in sustainability reports: Empirical evidence from the energy sector," Utilities Policy, Elsevier, vol. 82(C).
    3. AlKhawaldeh Afaf Mohammed & Saaydah Mansour Ibrahim, 2022. "Determinants of Corporate Risk Disclosure for Non- Financial Companies Listed on Amman Stock Exchange," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(4), pages 152-177.
    4. Mohammed Adel Elzahaby, 2023. "Corporate narrative disclosure practices in the Middle East and North Africa (MENA) region: a systematic literature review," International Journal of Disclosure and Governance, Palgrave Macmillan, vol. 20(3), pages 296-315, September.
    5. Samihah Ali Al-Sahali & Khalid Rasheed Al-Adeem, 2024. "Reporting Corporate Risk: An Empirical Inquiry into Listed Entities in the Saudi Capital Market," Sustainability, MDPI, vol. 16(15), pages 1-38, August.
    6. Düsterhöft, Maximilian & Schiemann, Frank & Walther, Thomas, 2023. "Let’s talk about risk! Stock market effects of risk disclosure for European energy utilities," Energy Economics, Elsevier, vol. 125(C).

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