IDEAS home Printed from https://ideas.repec.org/a/eee/finlet/v99y2026ics1544612326004708.html

Beyond template disclosure: Dynamic coordination between risk-response disclosure and firm performance

Author

Listed:
  • Zhang, Yongjie
  • Cai, Hongyu
  • Guo, Zhenao

Abstract

This study introduces the Risk-Response Disclosure Coordination (RRDC) to capture the alignment between firms’ risk disclosures and their corresponding response measures over time. Using data from Chinese A-share listed companies between 2014 and 2023, we document that higher RRDC is positively associated with subsequent firm performance. Further analyses suggest that this association is consistent with reduced financing constraints and increased institutional investor attention. The association is stronger among firms with higher innovation efficiency and stronger reputations. Our findings suggest that disclosure practices exhibiting closer coordination between reported risks and reported responses may be more informative to market participants, and are less consistent with purely compliance-driven, standardized reporting. These results offer implications for research on corporate disclosure as well as for regulatory and investment practice.

Suggested Citation

  • Zhang, Yongjie & Cai, Hongyu & Guo, Zhenao, 2026. "Beyond template disclosure: Dynamic coordination between risk-response disclosure and firm performance," Finance Research Letters, Elsevier, vol. 99(C).
    • Handle: RePEc:eee:finlet:v:99:y:2026:i:c:s1544612326004708
    DOI: 10.1016/j.frl.2026.109941
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1544612326004708
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.frl.2026.109941?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    More about this item

    Keywords

    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finlet:v:99:y:2026:i:c:s1544612326004708. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.