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Mandatory Non-financial Risk-Related Disclosure

Measurement Problems and Usefulness for Investors

Authors: Veltri, Stefania

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  • Analyses the measurement of the NF risk disclosure 
  • Employs a manual meaning-oriented content analysis and provides a quality NF risk
  • Offers empirical evidence on the state of the art of NF risk-related information disclosure
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eBook 71,68 €
price for Spain (gross)
  • ISBN 978-3-030-47921-3
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
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  • Immediate eBook download after purchase
Hardcover 88,39 €
price for Spain (gross)
  • ISBN 978-3-030-47920-6
  • Free shipping for individuals worldwide
  • Immediate ebook access, if available*, with your print order
  • Usually dispatched within 3 to 5 business days.
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About this book

This book focuses on the impact of the disclosure of non-financial risk, which could be seen as the most relevant non-financial information (NFI), in the aftermath of the 2014/95/EU Directive. The author analyses whether the switch from voluntary to mandatory NFI enhance the quality of disclosed NF risk-related information and the usefulness of the risk disclosure for investors. The book focuses specifically on the mandatory disclosure of non-financial (NF) risks as required by the EU Directive for listed Italian companies, investigating both the state of art of its disclosure and its usefulness for investors.

In doing so, the book contributes to fill two relevant gaps in risk literature. The first research gap is related to the insufficient investigation of the disclosure of NF risks. Companies mandated to disclose risk-related information focused mainly on financial risks, in spite of the width of the definition of risk, conceived as information about any opportunity, danger, threat, or exposure that has or could impact the company in the future. The second gap is that empirical evidence about the effects of corporate risk disclosures is still limited, and the potential benefits of the disclosure of information on risks have not been fully explored. In particular, the relationship between risk disclosures and firm value is under researched, as the risk literature mainly focuses on the incentives question, related to the motives for which companies decide to disclose.

The research in this book focuses on Italy, a country that provides a unique opportunity to examine the impact of mandatory NF risk disclosure on firm market value, being one of the biggest industrial European countries that had not mandatory legislation for NFI disclosure, and also one of the leading countries in voluntary corporate social responsibility (CSR) reporting at an international level. It has been carried out in the fiscal year 2017, the first year of the application of the mandatory NF disclosure for obliged Italian listed PIEs.

The book contributes both to the measurement literature, as it presents a self-constructed quality NF risks and to the value relevance analysis literature, providing evidence of the usefulness of financial and non-financial risk-related disclosures in the Italian context.  


About the authors

Stefania Veltri is a senior lecturer in accounting and Assistant Professor teaching business economics. She is department member at the Department of Business Administration and Law, University of Calabria. Her main research interests are related to the value relevance of accounting and extra-accounting information and the systems of measurement, management and reporting of intellectual capital. All these arguments are pursued employing both quantitative and qualitative methods. On these research themes she has published books, book chapters, journal articles (such as Journal of Intellectual Capital, Corporate Communications, Journal of Management and Governance) and she has presented papers to national and international congresses.

Table of contents (9 chapters)

Table of contents (9 chapters)

Buy this book

eBook 71,68 €
price for Spain (gross)
  • ISBN 978-3-030-47921-3
  • Digitally watermarked, DRM-free
  • Included format: EPUB, PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Hardcover 88,39 €
price for Spain (gross)
  • ISBN 978-3-030-47920-6
  • Free shipping for individuals worldwide
  • Immediate ebook access, if available*, with your print order
  • Usually dispatched within 3 to 5 business days.
  • The final prices may differ from the prices shown due to specifics of VAT rules
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Bibliographic Information

Bibliographic Information
Book Title
Mandatory Non-financial Risk-Related Disclosure
Book Subtitle
Measurement Problems and Usefulness for Investors
Authors
Copyright
2020
Publisher
Springer International Publishing
Copyright Holder
The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG
eBook ISBN
978-3-030-47921-3
DOI
10.1007/978-3-030-47921-3
Hardcover ISBN
978-3-030-47920-6
Edition Number
1
Number of Pages
XIII, 167
Number of Illustrations
5 b/w illustrations
Topics

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