No abstract

This study aims at identifying the determinants of corporate governance that impact corporate risk disclosure in India’s top non-financial listed companies based on market capitalisation. The analysis of the study is based on risk disclosure practices of the leading non-financial listed companies using annual reports as well as risk disclosure practices in the presence of various regulations. The risk exposure is measured using manual content analysis while the impact is analysed using multiple regression. The empirical findings reveal that the corporate risk disclosure level has improved significantly. The major corporate governance variables namely board size and ownership are insignificant to risk disclosure whereas audit committee meetings and role duality are somewhat significant. Firms having bigger size plays a major role in risk disclosure practices of companies, on the other hand, liquidity and growth of the firm do not influence risk disclosure practice. Due to the constant fallouts of companies, this paper tries to analyse the role of corporate governance practices in minimising companies’ risk exposure. The results of the study help analyse the failures in corporate governance practices that lead to companies’ poor disclosure policies.