Do board characteristics impact corporate risk disclosures? The Indian experience

Abstract

This study's primary purpose is to assess the corporate risk disclosure (CRD) practices of Indian firms and examine the potential impact of the board characteristics on risk disclosure levels. The study uses sample data of non-financial Indian firms listed on the Bombay Stock exchange (BSE). The generalized method of moments (GMM) is applied to test a theoretical framework. The study found that the women on the board made a positive and significant impact on risk disclosure. Along with this, other governance indicators such as non-executive directors and multiple directorships have significant positive and negative associations. Factors such as board size, executive directors, and independent directors have no significant impact whatsoever on corporate risk disclosure.