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Corporate governance reform and risk management disclosures: Evidence from Nigeria

Mohammed Mahmud Kakanda, Basariah Salim and Siraselvi Chandren

Business and Economic Horizons (BEH), 2017, vol. 13, issue 3

Abstract: The purpose of this study is to examine the disclosure intensity of risk management practices of listed financial service firms in Nigeria after the Corporate Governance (CG) reform in the year 2011. In the quest to achieve the objective of this study, content analysis of the annual reports of 45 sampled firms spanning from the year 2012 to 2015 was carried out. The study finds that there is a significant disclosure of risk management practices of the sampled firms, especially in relation to their risk management committee structure and its responsibility, risk management policies, audit committee availability and function, and capital/market risks. The sample firms remain reluctant in the disclosure of their environmental risk and operational risks. Moreover, there is no significant difference between banks and nonbanks in the disclosure of their risk management practices, signifying a strong adherence to the 2011 reformed CG code in Nigeria.

Keywords: Institutional and Behavioral Economics; Risk and Uncertainty (search for similar items in EconPapers)
Date: 2017
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DOI: 10.22004/ag.econ.264705

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