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Normative Framework for Risk Disclosure Index and Its Empirical Analysis

In: Understanding Corporate Risk

Author

Listed:
  • M. V. Shivaani

    (Indian Institute of Management (IIM), VNIT Campus)

  • P. K. Jain

    (Indian Institute of Technology Delhi)

  • Surendra S. Yadav

    (Indian Institute of Technology Delhi)

Abstract

This chapter aims to provide a normative framework to measure the quality of risk disclosuresRisk disclosures in annual reportsAnnual reports . The index uses textual analysisTextual analysis to capture not only the quantity but also the quality of disclosures, based on three semantic attributes, namely, nature (qualitative/quantitative), tense (past/future/both) and tone of the disclosures. The index is based on 69 risk and risk-related items. The index has been empirically computed for the sample 429 non-financial companies for each of the 10 years from 2005 to 2015. In addition, an aggregative analysis, focussing on phase-wise, age-wise and industry-wise analysisIndustry-wise analysis has been carried out. Further, a dis-aggregative (variable-wise) detailed analysis has been carried out to gain deeper insights into ‘most/least’ frequently and ‘most/least’ comprehensively disclosed risk items.

Suggested Citation

  • M. V. Shivaani & P. K. Jain & Surendra S. Yadav, 2019. "Normative Framework for Risk Disclosure Index and Its Empirical Analysis," India Studies in Business and Economics, in: Understanding Corporate Risk, chapter 0, pages 65-167, Springer.
    • Handle: RePEc:spr:isbchp:978-981-13-8141-6_4
    DOI: 10.1007/978-981-13-8141-6_4
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    Cited by:

    1. Tariq H. Ismail & Yousra R. Obiedallah, 2022. "Firm performance and cost of equity capital: the moderating role of narrative risk disclosure quality in Egypt," Future Business Journal, Springer, vol. 8(1), pages 1-19, December.

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