An Assessment of Risk and Risk Management Information Disclosure of Companies Listed in Nasdaq OMX Baltic and Euronext Brussels

Abstract

The main goal of this paper is to discuss theoretically and to evaluate empirically the differ-ences of risk and risk management information disclosure (RRMID) among companies listed in Nasdaq OMX Baltic and Euronext Brussels and to determine factors influencing such dif-ferences. The authors use analysis and systemization of scientific literature, induction, content analysis and coding procedure for risk and risk management information disclosure assess-ment, as well as correlation and regression analyses. The results suggest that companies listed in Euronext Brussels disclose more risk and risk management (RRM) information; RRM relat-ed disclosures are more qualitative, focused on past or present events and have a neutral mean-ing in both markets. Companies also disclose more information about risks themselves than about risk management. Finally, only companies’ size and presence of audit committee are significant factors influencing RRMID.