Market risk disclosures and corporate governance structure: Evidence from GCC financial firms
© 2017 Board of Trustees of the University of Illinois. In this study, we examine the relationship between corporate governance and the disclosure of market risk among financial firms from the Gulf Cooperation Council (GCC) region between 2007 and 2011. Using a comprehensive measure of the disclosur...
| Main Authors: | , , , |
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| Format: | Journal Article |
| Published: |
Elsevier BV
2019
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| Online Access: | http://hdl.handle.net/20.500.11937/62556 |
| _version_ | 1848760873567387648 |
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| author | Al-Hadi, Al-Hadi Ahmed Al-Yahyaee, K. Hussain, S. Taylor, Grantley |
| author_facet | Al-Hadi, Al-Hadi Ahmed Al-Yahyaee, K. Hussain, S. Taylor, Grantley |
| author_sort | Al-Hadi, Al-Hadi Ahmed |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | © 2017 Board of Trustees of the University of Illinois. In this study, we examine the relationship between corporate governance and the disclosure of market risk among financial firms from the Gulf Cooperation Council (GCC) region between 2007 and 2011. Using a comprehensive measure of the disclosure of market risk, our regression results suggest that the level of market risk disclosure is positively and significantly associated with the strength of a firm's corporate governance structure. Economically, the regression coefficient implies that a 3.25% increase in market risk disclosures is associated with a one standard deviation change in the strength of corporate governance. In addition, when we decompose our corporate governance index into its constituent items, we find that directors' independence and the dual roles of the CEO and chairman of the board reduce the extent and quality of market risk disclosures. Our results are robust to alternative specifications and endogeneity tests. |
| first_indexed | 2025-11-14T10:22:42Z |
| format | Journal Article |
| id | curtin-20.500.11937-62556 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T10:22:42Z |
| publishDate | 2019 |
| publisher | Elsevier BV |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-625562020-01-17T05:23:11Z Market risk disclosures and corporate governance structure: Evidence from GCC financial firms Al-Hadi, Al-Hadi Ahmed Al-Yahyaee, K. Hussain, S. Taylor, Grantley © 2017 Board of Trustees of the University of Illinois. In this study, we examine the relationship between corporate governance and the disclosure of market risk among financial firms from the Gulf Cooperation Council (GCC) region between 2007 and 2011. Using a comprehensive measure of the disclosure of market risk, our regression results suggest that the level of market risk disclosure is positively and significantly associated with the strength of a firm's corporate governance structure. Economically, the regression coefficient implies that a 3.25% increase in market risk disclosures is associated with a one standard deviation change in the strength of corporate governance. In addition, when we decompose our corporate governance index into its constituent items, we find that directors' independence and the dual roles of the CEO and chairman of the board reduce the extent and quality of market risk disclosures. Our results are robust to alternative specifications and endogeneity tests. 2019 Journal Article http://hdl.handle.net/20.500.11937/62556 10.1016/j.qref.2017.11.008 Elsevier BV restricted |
| spellingShingle | Al-Hadi, Al-Hadi Ahmed Al-Yahyaee, K. Hussain, S. Taylor, Grantley Market risk disclosures and corporate governance structure: Evidence from GCC financial firms |
| title | Market risk disclosures and corporate governance structure: Evidence from GCC financial firms |
| title_full | Market risk disclosures and corporate governance structure: Evidence from GCC financial firms |
| title_fullStr | Market risk disclosures and corporate governance structure: Evidence from GCC financial firms |
| title_full_unstemmed | Market risk disclosures and corporate governance structure: Evidence from GCC financial firms |
| title_short | Market risk disclosures and corporate governance structure: Evidence from GCC financial firms |
| title_sort | market risk disclosures and corporate governance structure: evidence from gcc financial firms |
| url | http://hdl.handle.net/20.500.11937/62556 |