Risk disclosures are among the most important types of non-financial information valued by investors. Risk disclosures are mostly narrative, proprietary in nature and, consequently, the importance of their accuracy and assurance is high to prevent them becoming boiler-plate and lose their...

Purpose – This paper aims to explore the potential for disclosure recommendations given by authoritative supervisory bodies to reduce information asymmetry between the management and shareholders. Design/methodology/approach – There is only meager existing evidence concerning firms'...

To date, there is only meager research evidence on the usefulness of mandatory annual report risk disclosures to investors. Although it has been argued that corporate disclosure decreases information asymmetry between management and shareholders, we do not know whether investors benefit from...

We examine the role of corporate boards of directors in shaping disclosure tone in 10-K filings. Boards of directors play an important governance role with respect to mandatory disclosures and personally sign off on Form 10-K, leading us to expect directors to influence financial reporting...