Financial and Non-Financial Risk Disclosure in Financial Crises Empirical Evidence from Canada and Germany

DOI: 10.5176/2251-1997_AF18.187

Authors: Kaouthar Lajili, Daniel Zéghal, Michael Dobler

Abstract:

This paper builds on the emerging international corporate risk disclosure literature and examines in more depth both the differences and similarities in risk disclosure behavior and outcomes in two different institutional and regulatory frameworks while controlling for industry type. Using content and regression analyses, we examine in detail the nature, extent, quality, as well as usefulness of risk disclosures of Canadian and German manufacturing firms before and right after the global financial crisis of 2008.

Keywords: Risk disclosure, non-financial risks, content analysis