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Risk disclosure in sustainability reports: Empirical evidence from the energy sector

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  • Vitolla, Filippo
  • Raimo, Nicola
  • Campobasso, Francesco
  • Giakoumelou, Anastasia

Abstract

Recently, companies in the energy sector have faced multiple financial and environmental risks. This finding demonstrates the need for energy companies to disclose risk information. However, academic attention on risk disclosure (RD) remains limited. Through manual content analysis and a regression model, this study examines the effect of the features of the board of directors and audit committee on the RD level in sustainability reports. The empirical findings reveal that the size and independence of the board of directors and the size of the audit committee positively affect the RD level.

Suggested Citation

  • 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).
    • Handle: RePEc:eee:juipol:v:82:y:2023:i:c:s0957178723000991
    DOI: 10.1016/j.jup.2023.101587
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