Authors retain the copyright without restrictions for their published content in this journal. HSSR is a SHERPA ROMEO Green Journal.
Publishing License
This is an open-access article distributed under the terms of
DOES THE BOARD INDEPENDENCE INFLUENCE THE ASSOCIATION BETWEEN RISK DISCLOSURE AND FIRM VALUE? EVIDENCE FROM JORDAN
Corresponding Author(s) : Mohammed Hassan Makhlouf
Humanities & Social Sciences Reviews,
Vol. 8 No. 4 (2020): July
Abstract
Purpose of the study: This paper aimed to investigate the influence of risk disclosure on corporate value and investigate whether the effect of risk disclosure on corporate value is moderated by the level of independence of boards of directors.
Methodology: Using an analysis of annual reports, the study depended on a set of balanced panel data derived from 13 banks listed on the “Amman Stock Exchange†(ASE) from 2014 to 2018.
Main Findings: The empirical results indicated that the association between risk disclosure and the corporate value was significant but negative. To examine the influence of the moderating variable, hierarchical regression models were used. The results regarding the moderating effect indicate that board independence (BI) positively moderated the association between risk disclosure and corporate value.
Applications of this study: The findings of this article can provide insights into the association between risk disclosure and corporate value and the moderating influence of the board of directors' independence on this relationship.
Novelty/Originality of this study: This study is particularly beneficial for understanding the importance of risk disclosure between the management and stakeholders as well as understanding the importance of the board of director composition in enhancing the influence of risk disclosure on corporate value. Moreover, this is the first study to investigate the moderating effect of board composition (represented by board independence) on the association between risk disclosure and corporate value.
Keywords
Download Citation
Endnote/Zotero/Mendeley (RIS)BibTeX
- Abdullah, M., Abdul Shukor, Z., Mohamed, Z. M., & Ahmad, A. (2015). Risk management disclosure: A study on the effect of voluntary risk management disclosure toward corporate value. Journal of Applied Accounting Research, 16(3), 400-432. https://doi.org/10.1108/JAAR-10-2014-0106 DOI: https://doi.org/10.1108/JAAR-10-2014-0106
- Acharya, V. V., & Richardson, M. P. (2009). Restoring Financial Stability: How to Repair a Failed System (Vol. 542). John Wiley & Sons. https://doi.org/10.1002/9781118258163 DOI: https://doi.org/10.1002/9781118258163
- Al-Akra, M., & Ali, M. J. (2012). The value relevance of corporate voluntary disclosure in the Middle-East: The case of Jordan. Journal of Accounting and Public Policy, 31(5), 533-549. https://doi.org/10.1016/j.jaccpubpol.2011.10.007 DOI: https://doi.org/10.1016/j.jaccpubpol.2011.10.007
- Al-Maghzom, A., Hussainey, K., & Aly, D. A. (2016). Corporate governance and risk disclosure: Evidence from Saudi Arabia. Corporate Ownership and Control Journal, 13(2). https://doi.org/10.22495/cocv13i2p14 DOI: https://doi.org/10.22495/cocv13i2p14
- Alkurdi, A., Hussainey, K., Tahat, Y., & Aladwan, M. (2019). The impact of corporate governance on risk disclosure: Jordanian evidence. Academy of Accounting and Financial Studies Journal, 23(1), 1-16.
- Amir, E., & Lev, B. (1996). Value-relevance of nonfinancial information: The wireless communications industry. Journal of accounting and economics, 22(1-3), 3-30. https://doi.org/10.1016/S0165-4101(96)00430-2 DOI: https://doi.org/10.1016/S0165-4101(96)00430-2
- Amran, N. (2010). Corporate Governance Mechanisms, Succession Planing And Firm Performance: Evidence From Malaysian Family And Nonfamily-Controlled Companies [Thesis, Universitu Utara Malaysia].
- Bhagat, S., & Bolton, B. (2013). Director Ownership, Governance, And Performance. Journal of Financial and Quantitative Analysis, 48(01), 105-135. https://doi.org/10.1017/S0022109013000045 DOI: https://doi.org/10.1017/S0022109013000045
- Bokpin, G. (2013). Determinants and value relevance of corporate disclosure: Evidence from the emerging capital market of Ghana. Journal of Applied Accounting Research, 14(2), 127-146. https://doi.org/10.1108/09675421311291883 DOI: https://doi.org/10.1108/09675421311291883
- Bravo, F. (2017). Are risk disclosures an effective tool to increase corporate value? Managerial and Decision Economics, 38(8), 1116-1124. https://doi.org/10.1002/mde.2850 DOI: https://doi.org/10.1002/mde.2850
- Buckby, S., Gallery, G., & Ma, J. (2015). An analysis of risk management disclosures: Australian evidence. Managerial Auditing Journal, 30(8/9), 812-869. https://doi.org/10.1108/MAJ-09-2013-0934 DOI: https://doi.org/10.1108/MAJ-09-2013-0934
- Cabedo, J. D., & Tirado, J. M. (2004). The disclosure of risk in financial statements. Accounting Forum. https://doi.org/10.1016/j.accfor.2003.10.002 DOI: https://doi.org/10.1016/j.accfor.2003.10.002
- Darko, J., Aribi, Z. A., Uzonwanne, G. C., Eweje, G., & Eweje, G. (2016). Corporate Governance: The Impact Of Director And Board Structure, Ownership Structure And Corporate Control On The Performance Of Listed Companies On The Ghana Stock Exchange. Corporate Governance: The International Journal of Business in Society, 16(2). https://doi.org/10.1108/CG-11-2014-0133 DOI: https://doi.org/10.1108/CG-11-2014-0133
- Deumes, R. (2008). Corporate risk reporting: A content analysis of narrative risk disclosures in prospectuses. The Journal of Business Communication (1973), 45(2), 120-157. https://doi.org/10.1177/0021943607313992 DOI: https://doi.org/10.1177/0021943607313992
- Dey, R., Hossain, S., & Rezaee, Z. (2018). Financial risk disclosure and financial attributes among publicly traded manufacturing companies: Evidence from Bangladesh. Journal of Risk and Financial Management, 11(3), 50. https://doi.org/10.3390/jrfm11030050 DOI: https://doi.org/10.3390/jrfm11030050
- Elzahar, H., & Hussainey, K. (2012). Determinants of narrative risk disclosures in UK interim reports. The Journal of Risk Finance, 13(2), 133-147. https://doi.org/10.1108/15265941211203189 DOI: https://doi.org/10.1108/15265941211203189
- Gjerald, O., & Lyngstad, H. (2015). Service risk perceptions and risk management strategies in business-to-business tourism partnerships. Tourism management perspectives, 13, 7-17. https://doi.org/10.1016/j.tmp.2014.10.002 DOI: https://doi.org/10.1016/j.tmp.2014.10.002
- Haddad, A. E., AlShattarat, W. K., AbuGhazaleh, N. M., & Nobanee, H. (2015). The Impact Of Ownership Structure And Family Board Domination On Voluntary Disclosure For Jordanian Listed Companies. Eurasian Business Review, 5(2), 203-234. https://doi.org/10.1007/s40821-015-0021-5 DOI: https://doi.org/10.1007/s40821-015-0021-5
- Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2013). Multivariate Data Analysis (7th ed.). Pearson Education Limited. https://books.google.com.my/books?id=VvXZnQEACAAJ
- Haniffa, R., & Hudaib, M. (2006). Corporate Governance Structure and Performance of Malaysian Listed Companies. Journal of Business Finance & Accounting, 33(7-8), 1034-1062. https://doi.org/10.1111/j.1468-5957.2006.00594.x DOI: https://doi.org/10.1111/j.1468-5957.2006.00594.x
- Hassan, N. (2014). Investigating the impact of firm characteristics on the risk disclosure quality. International Journal of Business and Social Science, 5(11).
- Hassan, O. R., Peter, Giorgioni, G., & Power, D. (2009). The value relevance of disclosure: Evidence from the emerging capital market of Egypt. The International Journal of Accounting, 44(1), 79-102. https://doi.org/10.1016/j.intacc.2008.12.005 DOI: https://doi.org/10.1016/j.intacc.2008.12.005
- Healy, P. M., & Palepu, K. G. (2001). Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature. Journal of accounting and economics, 31(1-3), 405-440. https://doi.org/10.1016/S0165-4101(01)00018-0 DOI: https://doi.org/10.1016/S0165-4101(01)00018-0
- Ibrahim, A., Habbash, M., & Hussainey, K. (2019). Corporate governance and risk disclosure: evidence from Saudi Arabia. International Journal of Accounting, Auditing and Performance Evaluation, 15(1), 89-111. https://doi.org/10.1504/IJAAPE.2019.096748 DOI: https://doi.org/10.1504/IJAAPE.2019.10017593
- Idris, M. I. I. (2012). The Impact Of Ownership Structure And External Audit On Accruals And Real Activities Earnings Management In Jordan University of Gloucestershire].
- Jaafar, A., & El-Shawa, M. (2009). Ownership concentration, board characteristics and performance: evidence from Jordan. In S. U. Mathew Tsamenyi (Ed.), Accounting in Emerging Economies (Vol. 9, pp. 73-95). Emerald Group Publishing Limited. https://doi.org/10.1108/S1479-3563(2009)0000009005 DOI: https://doi.org/10.1108/S1479-3563(2009)0000009005
- Kamaruzaman, S. A., Ali, M. M., Ghani, E. K., & Gunardi, A. (2019). Ownership structure, corporate risk disclosure and corporate value: a Malaysian perspective. International Journal of Managerial and Financial Accounting, 11(2), 113-131. https://doi.org/10.1504/IJMFA.2019.099766 DOI: https://doi.org/10.1504/IJMFA.2019.099766
- Khlif, H., & Hussainey, K. (2014). The association between risk disclosure and firm characteristics: a meta-analysis. Journal of Risk Research, 19(2), 181-211. https://doi.org/10.1080/13669877.2014.961514 DOI: https://doi.org/10.1080/13669877.2014.961514
- Kiflee, A. K. R. B., & Khan, M. N. A. B. A. (2019). Relationship between Corporate Governance and Risk Disclosure Practice from Malaysia Perspective. KnE Social Sciences, 66–89-66–89.
- Letting, N., Aosa, E., & Machuki, V. (2012). Board Diversity and Performance of Companies Listed in Nairobi Stock Exchange. International Journal of Humanities and Social Science, 2(11), 172-182.
- Li, H., Jahera Jr, J. S., & Yost, K. (2013). Corporate risk and corporate governance: another view. Managerial Finance, 39(3), 204-227. https://doi.org/10.1108/03074351311302773 DOI: https://doi.org/10.1108/03074351311302773
- Linsley, P. M., & Shrives, P. J. (2006). Risk reporting: A study of risk disclosures in the annual reports of UK companies. The British Accounting Review, 38(4), 387-404. https://doi.org/10.1016/j.bar.2006.05.002 DOI: https://doi.org/10.1016/j.bar.2006.05.002
- Makhlouf, M. H., Laili, N. H., Ramli, N. A., Al-Sufy, F., & Basah, M. Y. (2018). Board of directors, firm performance and the moderating role of family control in Jordan. Academy of Accounting and Financial Studies Journal, 22(5), 1-15.
- Makhlouf, M. H., Laili, N. H., Ramli, N. A., & Basah, M. Y. (2017). Board of Directors’ Effectiveness and Firm Performance: Evidence from Jordan. Research Journal of Finance and Accounting, 8(18), 23-34.
- Miihkinen, A. (2013). The usefulness of firm risk disclosures under different firm riskiness, investor-interest, and market conditions: New evidence from Finland. Advances in Accounting, 29(2), 312-331. https://doi.org/10.1016/j.adiac.2013.09.006 DOI: https://doi.org/10.1016/j.adiac.2013.09.006
- Nahar, S., Azim, M., & Anne Jubb, C. (2016). Risk disclosure, cost of capital and bank performance. International Journal of Accounting & Information Management, 24(4), 476-494. https://doi.org/10.1108/IJAIM-02-2016-0016 DOI: https://doi.org/10.1108/IJAIM-02-2016-0016
- Ntim, C. G., & Osei, K. A. (2011). The Impact of Corporate Board Meetings on Corporate Performance in South Africa. African Review of Economics and Finance 2(2), 83-103.
- Qiu, Y., Shaukat, A., & Tharyan, R. (2016). Environmental and social disclosures: Link with corporate financial performance. The British Accounting Review, 48(1), 102-116. https://doi.org/10.1016/j.bar.2014.10.007 DOI: https://doi.org/10.1016/j.bar.2014.10.007
- Roll, R., & Weston, J. (2008). Average and Marginal Tobins q as Indicators of Future Growth Opportunities, Expected Return, and Risk.
- Wooldridge, J. M. (2012). Introductory Econometrics: A Modern Approach ( 5th ed.). Cengage Learning.
- Al-Maghzom, A., Hussainey, K., & Aly, D. A. (2016). Corporate governance and risk disclosure: Evidence from Saudi Arabia. Corporate Ownership and Control Journal, 13(2). https://doi.org/10.22495/cocv13i2p14 DOI: https://doi.org/10.22495/cocv13i2p14
- Alkurdi, A., Hussainey, K., Tahat, Y., & Aladwan, M. (2019). The impact of corporate governance on risk disclosure: Jordanian evidence. Academy of Accounting and Financial Studies Journal, 23(1), 1-16.
- Ibrahim, A., Habbash, M., & Hussainey, K. (2019). Corporate governance and risk disclosure: evidence from Saudi Arabia. International Journal of Accounting, Auditing and Performance Evaluation, 15(1), 89-111. https://doi.org/10.1504/IJAAPE.2019.096748 DOI: https://doi.org/10.1504/IJAAPE.2019.096748
References
Abdullah, M., Abdul Shukor, Z., Mohamed, Z. M., & Ahmad, A. (2015). Risk management disclosure: A study on the effect of voluntary risk management disclosure toward corporate value. Journal of Applied Accounting Research, 16(3), 400-432. https://doi.org/10.1108/JAAR-10-2014-0106 DOI: https://doi.org/10.1108/JAAR-10-2014-0106
Acharya, V. V., & Richardson, M. P. (2009). Restoring Financial Stability: How to Repair a Failed System (Vol. 542). John Wiley & Sons. https://doi.org/10.1002/9781118258163 DOI: https://doi.org/10.1002/9781118258163
Al-Akra, M., & Ali, M. J. (2012). The value relevance of corporate voluntary disclosure in the Middle-East: The case of Jordan. Journal of Accounting and Public Policy, 31(5), 533-549. https://doi.org/10.1016/j.jaccpubpol.2011.10.007 DOI: https://doi.org/10.1016/j.jaccpubpol.2011.10.007
Al-Maghzom, A., Hussainey, K., & Aly, D. A. (2016). Corporate governance and risk disclosure: Evidence from Saudi Arabia. Corporate Ownership and Control Journal, 13(2). https://doi.org/10.22495/cocv13i2p14 DOI: https://doi.org/10.22495/cocv13i2p14
Alkurdi, A., Hussainey, K., Tahat, Y., & Aladwan, M. (2019). The impact of corporate governance on risk disclosure: Jordanian evidence. Academy of Accounting and Financial Studies Journal, 23(1), 1-16.
Amir, E., & Lev, B. (1996). Value-relevance of nonfinancial information: The wireless communications industry. Journal of accounting and economics, 22(1-3), 3-30. https://doi.org/10.1016/S0165-4101(96)00430-2 DOI: https://doi.org/10.1016/S0165-4101(96)00430-2
Amran, N. (2010). Corporate Governance Mechanisms, Succession Planing And Firm Performance: Evidence From Malaysian Family And Nonfamily-Controlled Companies [Thesis, Universitu Utara Malaysia].
Bhagat, S., & Bolton, B. (2013). Director Ownership, Governance, And Performance. Journal of Financial and Quantitative Analysis, 48(01), 105-135. https://doi.org/10.1017/S0022109013000045 DOI: https://doi.org/10.1017/S0022109013000045
Bokpin, G. (2013). Determinants and value relevance of corporate disclosure: Evidence from the emerging capital market of Ghana. Journal of Applied Accounting Research, 14(2), 127-146. https://doi.org/10.1108/09675421311291883 DOI: https://doi.org/10.1108/09675421311291883
Bravo, F. (2017). Are risk disclosures an effective tool to increase corporate value? Managerial and Decision Economics, 38(8), 1116-1124. https://doi.org/10.1002/mde.2850 DOI: https://doi.org/10.1002/mde.2850
Buckby, S., Gallery, G., & Ma, J. (2015). An analysis of risk management disclosures: Australian evidence. Managerial Auditing Journal, 30(8/9), 812-869. https://doi.org/10.1108/MAJ-09-2013-0934 DOI: https://doi.org/10.1108/MAJ-09-2013-0934
Cabedo, J. D., & Tirado, J. M. (2004). The disclosure of risk in financial statements. Accounting Forum. https://doi.org/10.1016/j.accfor.2003.10.002 DOI: https://doi.org/10.1016/j.accfor.2003.10.002
Darko, J., Aribi, Z. A., Uzonwanne, G. C., Eweje, G., & Eweje, G. (2016). Corporate Governance: The Impact Of Director And Board Structure, Ownership Structure And Corporate Control On The Performance Of Listed Companies On The Ghana Stock Exchange. Corporate Governance: The International Journal of Business in Society, 16(2). https://doi.org/10.1108/CG-11-2014-0133 DOI: https://doi.org/10.1108/CG-11-2014-0133
Deumes, R. (2008). Corporate risk reporting: A content analysis of narrative risk disclosures in prospectuses. The Journal of Business Communication (1973), 45(2), 120-157. https://doi.org/10.1177/0021943607313992 DOI: https://doi.org/10.1177/0021943607313992
Dey, R., Hossain, S., & Rezaee, Z. (2018). Financial risk disclosure and financial attributes among publicly traded manufacturing companies: Evidence from Bangladesh. Journal of Risk and Financial Management, 11(3), 50. https://doi.org/10.3390/jrfm11030050 DOI: https://doi.org/10.3390/jrfm11030050
Elzahar, H., & Hussainey, K. (2012). Determinants of narrative risk disclosures in UK interim reports. The Journal of Risk Finance, 13(2), 133-147. https://doi.org/10.1108/15265941211203189 DOI: https://doi.org/10.1108/15265941211203189
Gjerald, O., & Lyngstad, H. (2015). Service risk perceptions and risk management strategies in business-to-business tourism partnerships. Tourism management perspectives, 13, 7-17. https://doi.org/10.1016/j.tmp.2014.10.002 DOI: https://doi.org/10.1016/j.tmp.2014.10.002
Haddad, A. E., AlShattarat, W. K., AbuGhazaleh, N. M., & Nobanee, H. (2015). The Impact Of Ownership Structure And Family Board Domination On Voluntary Disclosure For Jordanian Listed Companies. Eurasian Business Review, 5(2), 203-234. https://doi.org/10.1007/s40821-015-0021-5 DOI: https://doi.org/10.1007/s40821-015-0021-5
Hair, J. F., Black, W. C., Babin, B. J., & Anderson, R. E. (2013). Multivariate Data Analysis (7th ed.). Pearson Education Limited. https://books.google.com.my/books?id=VvXZnQEACAAJ
Haniffa, R., & Hudaib, M. (2006). Corporate Governance Structure and Performance of Malaysian Listed Companies. Journal of Business Finance & Accounting, 33(7-8), 1034-1062. https://doi.org/10.1111/j.1468-5957.2006.00594.x DOI: https://doi.org/10.1111/j.1468-5957.2006.00594.x
Hassan, N. (2014). Investigating the impact of firm characteristics on the risk disclosure quality. International Journal of Business and Social Science, 5(11).
Hassan, O. R., Peter, Giorgioni, G., & Power, D. (2009). The value relevance of disclosure: Evidence from the emerging capital market of Egypt. The International Journal of Accounting, 44(1), 79-102. https://doi.org/10.1016/j.intacc.2008.12.005 DOI: https://doi.org/10.1016/j.intacc.2008.12.005
Healy, P. M., & Palepu, K. G. (2001). Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature. Journal of accounting and economics, 31(1-3), 405-440. https://doi.org/10.1016/S0165-4101(01)00018-0 DOI: https://doi.org/10.1016/S0165-4101(01)00018-0
Ibrahim, A., Habbash, M., & Hussainey, K. (2019). Corporate governance and risk disclosure: evidence from Saudi Arabia. International Journal of Accounting, Auditing and Performance Evaluation, 15(1), 89-111. https://doi.org/10.1504/IJAAPE.2019.096748 DOI: https://doi.org/10.1504/IJAAPE.2019.10017593
Idris, M. I. I. (2012). The Impact Of Ownership Structure And External Audit On Accruals And Real Activities Earnings Management In Jordan University of Gloucestershire].
Jaafar, A., & El-Shawa, M. (2009). Ownership concentration, board characteristics and performance: evidence from Jordan. In S. U. Mathew Tsamenyi (Ed.), Accounting in Emerging Economies (Vol. 9, pp. 73-95). Emerald Group Publishing Limited. https://doi.org/10.1108/S1479-3563(2009)0000009005 DOI: https://doi.org/10.1108/S1479-3563(2009)0000009005
Kamaruzaman, S. A., Ali, M. M., Ghani, E. K., & Gunardi, A. (2019). Ownership structure, corporate risk disclosure and corporate value: a Malaysian perspective. International Journal of Managerial and Financial Accounting, 11(2), 113-131. https://doi.org/10.1504/IJMFA.2019.099766 DOI: https://doi.org/10.1504/IJMFA.2019.099766
Khlif, H., & Hussainey, K. (2014). The association between risk disclosure and firm characteristics: a meta-analysis. Journal of Risk Research, 19(2), 181-211. https://doi.org/10.1080/13669877.2014.961514 DOI: https://doi.org/10.1080/13669877.2014.961514
Kiflee, A. K. R. B., & Khan, M. N. A. B. A. (2019). Relationship between Corporate Governance and Risk Disclosure Practice from Malaysia Perspective. KnE Social Sciences, 66–89-66–89.
Letting, N., Aosa, E., & Machuki, V. (2012). Board Diversity and Performance of Companies Listed in Nairobi Stock Exchange. International Journal of Humanities and Social Science, 2(11), 172-182.
Li, H., Jahera Jr, J. S., & Yost, K. (2013). Corporate risk and corporate governance: another view. Managerial Finance, 39(3), 204-227. https://doi.org/10.1108/03074351311302773 DOI: https://doi.org/10.1108/03074351311302773
Linsley, P. M., & Shrives, P. J. (2006). Risk reporting: A study of risk disclosures in the annual reports of UK companies. The British Accounting Review, 38(4), 387-404. https://doi.org/10.1016/j.bar.2006.05.002 DOI: https://doi.org/10.1016/j.bar.2006.05.002
Makhlouf, M. H., Laili, N. H., Ramli, N. A., Al-Sufy, F., & Basah, M. Y. (2018). Board of directors, firm performance and the moderating role of family control in Jordan. Academy of Accounting and Financial Studies Journal, 22(5), 1-15.
Makhlouf, M. H., Laili, N. H., Ramli, N. A., & Basah, M. Y. (2017). Board of Directors’ Effectiveness and Firm Performance: Evidence from Jordan. Research Journal of Finance and Accounting, 8(18), 23-34.
Miihkinen, A. (2013). The usefulness of firm risk disclosures under different firm riskiness, investor-interest, and market conditions: New evidence from Finland. Advances in Accounting, 29(2), 312-331. https://doi.org/10.1016/j.adiac.2013.09.006 DOI: https://doi.org/10.1016/j.adiac.2013.09.006
Nahar, S., Azim, M., & Anne Jubb, C. (2016). Risk disclosure, cost of capital and bank performance. International Journal of Accounting & Information Management, 24(4), 476-494. https://doi.org/10.1108/IJAIM-02-2016-0016 DOI: https://doi.org/10.1108/IJAIM-02-2016-0016
Ntim, C. G., & Osei, K. A. (2011). The Impact of Corporate Board Meetings on Corporate Performance in South Africa. African Review of Economics and Finance 2(2), 83-103.
Qiu, Y., Shaukat, A., & Tharyan, R. (2016). Environmental and social disclosures: Link with corporate financial performance. The British Accounting Review, 48(1), 102-116. https://doi.org/10.1016/j.bar.2014.10.007 DOI: https://doi.org/10.1016/j.bar.2014.10.007
Roll, R., & Weston, J. (2008). Average and Marginal Tobins q as Indicators of Future Growth Opportunities, Expected Return, and Risk.
Wooldridge, J. M. (2012). Introductory Econometrics: A Modern Approach ( 5th ed.). Cengage Learning.
Al-Maghzom, A., Hussainey, K., & Aly, D. A. (2016). Corporate governance and risk disclosure: Evidence from Saudi Arabia. Corporate Ownership and Control Journal, 13(2). https://doi.org/10.22495/cocv13i2p14 DOI: https://doi.org/10.22495/cocv13i2p14
Alkurdi, A., Hussainey, K., Tahat, Y., & Aladwan, M. (2019). The impact of corporate governance on risk disclosure: Jordanian evidence. Academy of Accounting and Financial Studies Journal, 23(1), 1-16.
Ibrahim, A., Habbash, M., & Hussainey, K. (2019). Corporate governance and risk disclosure: evidence from Saudi Arabia. International Journal of Accounting, Auditing and Performance Evaluation, 15(1), 89-111. https://doi.org/10.1504/IJAAPE.2019.096748 DOI: https://doi.org/10.1504/IJAAPE.2019.096748