Understanding Corporate Risk

This book proposes three normative frameworks pertaining to risk-measurement, disclosure and governance using expert opinion and data from the top 429 non-financial companies (of the NIFTY 500 index) over a 10-year period. The book offers a novel contribution to the global literature on disclosure quality by presenting a composite measure of the quality as well as quantity of risk disclosures. Focusing on the quality of risk disclosures and risk governance structures, and using sophisticated methodology to tackle the issue of endogeneity, the book explores the important yet uncharted confluence of accounting information, risk and corporate governance. It addresses the interplay between three facets of risk, and is corroborated by practitioners' perspectives as well as case studies. It is an excellent resource for practitioners, professionals and policy-makers, in addition to researchers working on the topic. ****

Presents pioneering empirical work on risk governance structures Discusses unconventional use of accounting information as an indicator of corporate risk Proposes a risk index based on nine major risks market risk, accounting risk, competition risk, contingency risk, credit risk, foreign exchange risk, liquidity risk, operating risk, and solvency risk Examines the relationship between risk levels and accounting returns

Autorentext
M.V. Shivaani is an Assistant Professor in the area of accounting and finance at the Indian Institute of Management (IIM) Nagpur. She obtained her Ph.D. from the Department of Management Studies, Indian Institute of Technology (IIT) Delhi. She is a Chartered Accountant (ICAI) by profession and has presented her research at various international conferences. She was awarded best paper/presentation award at International Conference on Applied Economics and Management Sciences, Spain and International Conference on Sustainable Growth & Innovation & Revolution in the New Millennium. She has published in journals of national and international repute. She has also been a part of research team to Indian Scientific Expedition to Antarctica. P.K. Jain is an Emeritus Professor of Finance and was the Modi Chair Professor at the Department of Management Studies, Indian Institute of Technology (IIT) Delhi. He was also the Dalmia Chair Professor at the institute. Recently, he received the 'Best Faculty Award' at IIT Delhi. He has more than 45 years of teaching experience in subjects related to management accounting, financial management, financial analysis, cost analysis and cost control. He was a member of the visiting faculty at the AIT Bangkok; University of Paris; Howe School of Technology Management at Stevens Institute of Technology, New Jersey; and ICPE, Ljubljana. He has authored three well-known textbooks published by Tata Mcgraw Hill and more than ten research monographs (four of them with Springer), and has published over 200 research papers in respected national and international journals. Surendra S. Yadav is a Professor of Finance at the Department of Management Studies, Indian Institute of Technology (IIT) Delhi, where he was the Head of the Department of Management Studies for six years. He teaches corporate finance, international finance, international business, and security analysis and portfolio management. He has been a Visiting Professor at the University of Paris, Paris School of Management, INSEEC Paris, and the University of Tampa, USA. He has published 12 books (some of them with Springer) and contributed more than 230 papers to research journals and conferences as well as over 30 papers to financial/economic newspapers. He is the editor-in-chief of the Journal of Advances in Management Research (JAMR) published by Emerald Publishing, UK.

Inhalt
Corporate risk management: An introduction.- Research methodology.- Normative framework for risk index and its empirical analysis.- Normative framework for risk disclosure index and its empirical analysis.- Normative framework for risk governance index and its empirical analysis.- Examining risk- return relationship.- Moderating role of governance in risk-disclosure relationship.- Practitioners' perspective on risk.- Case studies.- Summary and concluding observations.