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An Assessment of Risk and Risk Management Information Disclosure of Companies Listed in Nasdaq OMX Baltic and Euronext Brussels

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  • Dalia Kolmatsui
  • Renata Legenzova
  • Mantas Seilius

Abstract

The main goal of this paper is to discuss theoretically and to evaluate empirically the differences of risk and risk management information disclosure (RRMID) among companies listed in Nasdaq OMX Baltic and Euronext Brussels and to determine factors influencing such differences. The authors use analysis and systemization of scientific literature, induction, content analysis and coding procedure for risk and risk management information disclosure assessment, as well as correlation and regression analyses. The results suggest that companies listed in Euronext Brussels disclose more risk and risk management (RRM) information; RRM related disclosures are more qualitative, focused on past or present events and have a neutral meaning in both markets. Companies also disclose more information about risks themselves than about risk management. Finally, only companies' size and presence of audit committee are significant factors influencing RRMID.

Suggested Citation

  • Dalia Kolmatsui & Renata Legenzova & Mantas Seilius, 2016. "An Assessment of Risk and Risk Management Information Disclosure of Companies Listed in Nasdaq OMX Baltic and Euronext Brussels," Central European Business Review, Prague University of Economics and Business, vol. 2016(3), pages 52-68.
    • Handle: RePEc:prg:jnlcbr:v:2016:y:2016:i:3:id:158:p:52-68
    DOI: 10.18267/j.cebr.158
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    References listed on IDEAS

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    5. Bassam Rajab & Morrison Handley-Schachler, 2009. "Corporate risk disclosure by UK firms: trends and determinants," World Review of Entrepreneurship, Management and Sustainable Development, Inderscience Enterprises Ltd, vol. 5(3), pages 224-243.
    6. Abraham, Santhosh & Cox, Paul, 2007. "Analysing the determinants of narrative risk information in UK FTSE 100 annual reports," The British Accounting Review, Elsevier, vol. 39(3), pages 227-248.
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    Cited by:

    1. Nadine Gatzert & Dinah Heidinger, 2020. "An Empirical Analysis of Market Reactions to the First Solvency and Financial Condition Reports in the European Insurance Industry," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 87(2), pages 407-436, June.

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    More about this item

    Keywords

    Risk management; information disclosure; Nasdaq OMX Baltic; Euronext Brussels;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting

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