Neue internationale Studie zur Risikobericht­erstattung in „turbulenten Zeiten“

Die lang gediehene Kooperation von Michael Dobler mit Kolleginnen und Kollegen der Telfer School of Management an der University of Ottawa trägt erneut Früchte. Im Journal of International Financial Management and Accounting wurden nun erhellende – länderübergreifende und nach Risikokategorien differenzierte – Befunde zur Praxis und zum Informationsgehalt der unternehmerischen Risikoberichterstattung im speziellen Kontext der globalen Finanzkrise veröffentlicht.

Abstract:

Focusing on the global financial crisis period, this paper examines risk disclosure patterns and outcomes in a cross‐country setting. We build on prior risk disclosure literature and draw upon institutional and agency‐based theoretical lenses to investigate the nature, comprehensiveness, evolution, and quality of disclosed risk information for matched samples of manufacturing firms in the United States, Canada, Germany, and China (Chinese Hong Kong‐listed firms). The results show a high degree of heterogeneity in risk disclosure behavior and volume among the sample firms attributed to both institutional differences and corporate reporting incentives in the study period. Furthermore, we document significant associations between risk proxies, risk disclosures, and firm market performance suggesting that corporate risk disclosures are potentially informative and useful to investors and other stakeholders. The paper highlights the important joint role of corporate incentives and legal institutions in interpreting and implementing accounting standards and stock exchange listing regulations around the world and during turbulent times.

Lajili, K., Li, T. M., Chourou, L., Dobler, M. & Zéghal, D. (2023). Corporate risk disclosures in turbulent times: An international analysis in the global financial crisis. Journal of International Financial Management and Accounting. https://doi.org./10.1111/jifm.12195