Risk disclosures in U.S. non-financial companies’ annual reports: Comparisons among three different industries

Zhang, Jie (2009) Risk disclosures in U.S. non-financial companies’ annual reports: Comparisons among three different industries. [Dissertation (University of Nottingham only)] (Unpublished)

[img] PDF - Registered users only - Requires a PDF viewer such as GSview, Xpdf or Adobe Acrobat Reader
Download (2MB)
[img]
Preview
PDF - Requires a PDF viewer such as GSview, Xpdf or Adobe Acrobat Reader
Download (2MB) | Preview

Abstract

Prior researches on listed companies have reported many useful literatures about risk disclosures either in UK or in other countries. Using the combination of hand-collected data and secondary data, the purpose of this dissertation is to examine risk disclosure practices of fifteen U.S. listed companies from three different industries, over a period of five years. The method of collecting data is content analysis. This study attempts to investigate risk disclosures from the industry point of view, whether there is any relationships between company size, level of company risk, company performance and the volume of risk disclosures. Nine risk measures are used in the hypothesis tests: Turnover ratio, Market Value, Market Capitalization, Gearing ratio, Beta factor, and Book to Market value of equity, Profit margin, Dividend per Share, and Return on Equity. In addition, the developing trend on the volume of risk disclosures and the impacts generated from industry nature to the volume of risk disclosures are also discussed in this study.

One of the findings in this study is that there is no association between the level of risk and the volume of risk disclosures in the same industry. There isn’t a clear relationship existing between company size, company performance and the volume of risk disclosures. It is found that companies belong to different industries appear to disclose risk information in different levels. The total volume of risk disclosures has increased significantly for the past five years in the same industry.

Key words: Risk Disclosures, U.S. listed companies, Industry, Relationship

Item Type: Dissertation (University of Nottingham only)
Depositing User: EP, Services
Date Deposited: 09 Aug 2011 10:13
Last Modified: 05 Nov 2016 21:11
URI: http://eprints.nottingham.ac.uk/id/eprint/23084

Actions (Archive Staff Only)

Edit View Edit View