The purpose of this paper is to contribute to the existing literature on corporate disclosure by exploring the quality of information on financial risks contained in the annual reports of a sample of non-financial companies listed on the Italian Stock Exchange. The analysis is based on a manual content analysis approach, used to measure the level of financial risk information presented in the annual reports of 50 companies and build a Grid Risk Report. The findings of this paper show the degree of financial risk disclosure, as well as what companies actually disclose in terms of financial risk indices in their Management Reports (in the section covering information on risks and uncertainties), in their Notes to the Financial Statements (in the section on risk management) and, possibly, in their Notes on the Financial Instruments, they hold for to cover risk, for the period between 2008 and 2013. The paper’s findings have practical implications for both stakeholders and managers, giving investors facts about the sort of Italian companies that disclose financial risk information as part of the risk information presented in their annual reports and managers information about the degree of financial risk disclosure that will satisfy their stakeholder disclosure demands.

Exploring financial risks from corporate disclosure: evidence from Italian listed companies / Lombardi, Rosa; Coluccia, Daniela; Russo, Giuseppe; Solimene, Silvia. - In: JOURNAL OF THE KNOWLEDGE ECONOMY. - ISSN 1868-7865. - STAMPA. - 7:1(2016), pp. 309-327. [10.1007/s13132-015-0329-5]

Exploring financial risks from corporate disclosure: evidence from Italian listed companies

Lombardi, Rosa;Coluccia, Daniela;Solimene, Silvia
2016

Abstract

The purpose of this paper is to contribute to the existing literature on corporate disclosure by exploring the quality of information on financial risks contained in the annual reports of a sample of non-financial companies listed on the Italian Stock Exchange. The analysis is based on a manual content analysis approach, used to measure the level of financial risk information presented in the annual reports of 50 companies and build a Grid Risk Report. The findings of this paper show the degree of financial risk disclosure, as well as what companies actually disclose in terms of financial risk indices in their Management Reports (in the section covering information on risks and uncertainties), in their Notes to the Financial Statements (in the section on risk management) and, possibly, in their Notes on the Financial Instruments, they hold for to cover risk, for the period between 2008 and 2013. The paper’s findings have practical implications for both stakeholders and managers, giving investors facts about the sort of Italian companies that disclose financial risk information as part of the risk information presented in their annual reports and managers information about the degree of financial risk disclosure that will satisfy their stakeholder disclosure demands.
financial risks; corporate disclosure; risk disclosure; risk management; GRR; investors
01 Pubblicazione su rivista::01a Articolo in rivista
Exploring financial risks from corporate disclosure: evidence from Italian listed companies / Lombardi, Rosa; Coluccia, Daniela; Russo, Giuseppe; Solimene, Silvia. - In: JOURNAL OF THE KNOWLEDGE ECONOMY. - ISSN 1868-7865. - STAMPA. - 7:1(2016), pp. 309-327. [10.1007/s13132-015-0329-5]
File allegati a questo prodotto
File Dimensione Formato  
Coluccia_Exploring_2016.pdf

solo gestori archivio

Tipologia: Documento in Post-print (versione successiva alla peer review e accettata per la pubblicazione)
Licenza: Tutti i diritti riservati (All rights reserved)
Dimensione 1.34 MB
Formato Adobe PDF
1.34 MB Adobe PDF   Visualizza/Apri   Richiedi una copia
Coluccia_Exploring_2016.pdf

solo gestori archivio

Tipologia: Versione editoriale (versione pubblicata con il layout dell'editore)
Licenza: Tutti i diritti riservati (All rights reserved)
Dimensione 1.05 MB
Formato Adobe PDF
1.05 MB Adobe PDF   Visualizza/Apri   Richiedi una copia

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11573/871940
Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 10
  • ???jsp.display-item.citation.isi??? 10
social impact