Moderating Role of Governance in Risk-Disclosure Relationship

M. V. Shivaani (), P. K. Jain () and Surendra S. Yadav ()
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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

Chapter Chapter 7 in Understanding Corporate Risk, 2019, pp 223-249 from Springer

Abstract: Abstract This chapter aims to explore the relationships among risk disclosure index, risk governance indexRisk governance index and risk indexRisk index . In view of the possible endogeneityEndogeneity problem, diff-GMMGeneralised Method of Moments (GMM) regression has been used. The empirical analysis reveals that current risk levels of a company are significantly and positively associated with risk levels of immediately preceding year. It is noteworthy that risk governance index acts as a moderating variableModerating variable , influencing the relationship between disclosure index and risk levels. In addition, current disclosure levels are significantly and positively associated with previous year’s disclosure. This supports the view of symbolic rather than substantive disclosures.

Keywords: Risk disclosure; Risk index; Risk governance; Endogeneity; Diff-GMM; Moderating variable (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-981-13-8141-6_7

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DOI: 10.1007/978-981-13-8141-6_7

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