文章基本信息

标题：Risk disclosure and cost of equity. The Spanish case
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作者：David Cabedo Semper ; José Miguel Tirado Beltrán
期刊名称：Contaduría y Administración
印刷版ISSN：0186-1042
出版年度：2014
卷号：59
期号：4
页码：105-135
语种：English
出版社：Universidad Nacional Autónoma de México
摘要：In this paper we make an empirical study of the relationshipbetween risk disclosure and the cost of equity. In particular, theobjective being pursued is to contrast whether or not the cost ofequity for the company is related to its financial and non‑finan‑cial risk disclosure. Our results show no statistically significantrelationship between the latter and the cost of equity; and astatistically significant relationship, with a positive sign, be‑tween this cost and financial risk disclosure. This suggests thatcompany risk disclosures appear to introduce unknown con‑tingencies and risk factors rather than only update informationabout known risks.
其他摘要：In this paper we make an empirical study of the relationshipbetween risk disclosure and the cost of equity. In particular, theobjective being pursued is to contrast whether or not the cost ofequity for the company is related to its financial and non‑finan‑cial risk disclosure. Our results show no statistically significantrelationship between the latter and the cost of equity; and astatistically significant relationship, with a positive sign, be‑tween this cost and financial risk disclosure. This suggests thatcompany risk disclosures appear to introduce unknown con‑tingencies and risk factors rather than only update informationabout known risks.
关键词：Costof equity; risk; risk reporting; risk disclosureClassification JEL: M41 Costo de los recursos propios; riesgo; información sobre riesgosClasificación JEL...
其他关键词：Costof equity; risk; risk reporting; risk disclosureClassification JEL: M41