African Journal of
Business Management

  • Abbreviation: Afr. J. Bus. Manage.
  • Language: English
  • ISSN: 1993-8233
  • DOI: 10.5897/AJBM
  • Start Year: 2007
  • Published Articles: 3982

Full Length Research Paper

Determinants of risk disclosures in Kenyan listed companies

Muturi Wachira
  • Muturi Wachira
  • Department of Business Studies, Faculty of Business Studies, St. Paul’s University, Limuru, Kenya.
  • Google Scholar


  •  Received: 11 January 2018
  •  Accepted: 06 April 2018
  •  Published: 28 May 2018

Abstract

The main objective of this study was to examine the relationship between risk disclosure and firm characteristics of companies quoted on the Nairobi Securities Market. The study involved all firms that were listed on the NSE between years 2010 and 2016, except the financial institutions. Annual reports were used to determine the variables. A regression analysis was conducted using the random effect model to determine the relationship between the disclosure index and firms’ characteristics. The results show that risk disclosure was positively related to gearing level, company size, profitability, and the industry type. However, it was not found to be related to the liquidity level, ownership and board composition.

Key words: Risk disclosure, firm characteristics, annual reports, Nairobi stock exchange.