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A Systematic Literature Review on Risk Disclosure Research: State-of-the-art and Future Research Agenda

A Systematic Literature Review on Risk Disclosure Research: State-of-the-art and Future Research Agenda
A Systematic Literature Review on Risk Disclosure Research: State-of-the-art and Future Research Agenda

This study presents a systematic review of the existing literature on corporate risk disclosure (RD). The study reviews 104 studies published in 51 high-ranked journals over the period 1999–2019 following the systematic literature review methodology developed and employed by past works. The results highlight the substantial knowledge gaps and inconclusive findings of extant literature in several aspects, including identifying avenues for further research in terms of research designs, settings, scope and theories. The findings also indicate that limited studies focus on developing countries, private institutions, and non-profit organizations. Similarly, our findings show that existing research that examines other firm and cross-country drivers of risk, such as national accounting, auditing, economic, governance, language, and legal systems, are not well documented. By contrast, our review illustrates that there is an increase in the number of studies published in recent years with over one-half of those that we review in this research published in the last six years of our sample period. Furthermore, our results suggest that past review studies have also focused excessively on the immediate firm-level characteristics, such as firm size, growth, leverage, value, and cost of capital. The findings of our review will be of great interest to academics, accounting standard-setters, managers and practitioners, policymakers, regulators, researchers, and students.

Basel committee, IFRS7, Risk disclosure, SOX, Systematic review
1057-5219
Ibrahim, Awad
a70f55b6-b6ba-4d3a-a5c0-f3e6097247f5
Hussainey, Khaled.
79586e46-b4c8-455c-ad6b-88e9334d9051
Nawaz, Tasawar
857f3ada-07b6-488a-b11b-3d7508bf401a
Ntim, Collins
1f344edc-8005-4e96-8972-d56c4dade46b
A. Elamer, Ahmed
61b18309-2562-453f-a305-52be29dec3fc
Ibrahim, Awad
a70f55b6-b6ba-4d3a-a5c0-f3e6097247f5
Hussainey, Khaled.
79586e46-b4c8-455c-ad6b-88e9334d9051
Nawaz, Tasawar
857f3ada-07b6-488a-b11b-3d7508bf401a
Ntim, Collins
1f344edc-8005-4e96-8972-d56c4dade46b
A. Elamer, Ahmed
61b18309-2562-453f-a305-52be29dec3fc

Ibrahim, Awad, Hussainey, Khaled., Nawaz, Tasawar, Ntim, Collins and A. Elamer, Ahmed (2022) A Systematic Literature Review on Risk Disclosure Research: State-of-the-art and Future Research Agenda. International Review of Financial Analysis, 82, [102217]. (doi:10.1016/j.irfa.2022.102217).

Record type: Review

Abstract

This study presents a systematic review of the existing literature on corporate risk disclosure (RD). The study reviews 104 studies published in 51 high-ranked journals over the period 1999–2019 following the systematic literature review methodology developed and employed by past works. The results highlight the substantial knowledge gaps and inconclusive findings of extant literature in several aspects, including identifying avenues for further research in terms of research designs, settings, scope and theories. The findings also indicate that limited studies focus on developing countries, private institutions, and non-profit organizations. Similarly, our findings show that existing research that examines other firm and cross-country drivers of risk, such as national accounting, auditing, economic, governance, language, and legal systems, are not well documented. By contrast, our review illustrates that there is an increase in the number of studies published in recent years with over one-half of those that we review in this research published in the last six years of our sample period. Furthermore, our results suggest that past review studies have also focused excessively on the immediate firm-level characteristics, such as firm size, growth, leverage, value, and cost of capital. The findings of our review will be of great interest to academics, accounting standard-setters, managers and practitioners, policymakers, regulators, researchers, and students.

Text
Accepted_Manuscript_IRFA_27_May_2022 - Accepted Manuscript
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More information

Accepted/In Press date: 27 May 2022
Published date: July 2022
Additional Information: Publisher Copyright: © 2022 Elsevier Inc.
Keywords: Basel committee, IFRS7, Risk disclosure, SOX, Systematic review

Identifiers

Local EPrints ID: 457293
URI: http://eprints.soton.ac.uk/id/eprint/457293
ISSN: 1057-5219
PURE UUID: b4eaa6c0-1317-443e-9ff9-61cceba70f36
ORCID for Collins Ntim: ORCID iD orcid.org/0000-0002-1042-4056

Catalogue record

Date deposited: 31 May 2022 16:34
Last modified: 17 Mar 2024 07:20

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Contributors

Author: Awad Ibrahim
Author: Khaled. Hussainey
Author: Tasawar Nawaz
Author: Collins Ntim ORCID iD
Author: Ahmed A. Elamer

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