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Governance Quality, Risk Management and Voluntary Disclosure in UK Higher Education Institutions / Mohamed Elmagrhi; Collins G. Ntim; Yasir Shahab; Moataz Elhelaly

Swansea University Author: Mohamed, Elmagrhi

Abstract

This paper examines the extent to which UK higher education institutions (HEIs) voluntarily make risk management disclosures, and investigates whether internal governance quality influences such voluntary risk disclosures. Using a sample of 117 UK HEIs over a six-year period, our baseline findings s...

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URI: https://cronfa.swan.ac.uk/Record/cronfa54361
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Abstract: This paper examines the extent to which UK higher education institutions (HEIs) voluntarily make risk management disclosures, and investigates whether internal governance quality influences such voluntary risk disclosures. Using a sample of 117 UK HEIs over a six-year period, our baseline findings suggest that, the level of risk disclosure among HEIs in the UK is relatively low, especially when compared to the findings of prior studies that have been conducted for similar-sized publicly traded corporations. Second, we find that our composite governance quality index has significant positive impact on voluntary risk disclosures. Finally, the findings show that the positive governance–risk disclosure relationship is moderated/explained largely by the characteristics of senior management team, including its size, diversity and frequency of meetings. Our findings are robust to controlling for endogeneities and alternative estimation techniques.
Keywords: Governance quality, senior management team, risk management, voluntary disclosure, reforms, HEIs, UK
College: School of Management