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Author(s):  
Saskia Nowicki ◽  
Salome A. Bukachi ◽  
Sonia F. Hoque ◽  
Jacob Katuva ◽  
Mercy M. Musyoka ◽  
...  

Reducing disease from unsafe drinking-water is a key environmental health objective in rural Sub-Saharan Africa, where water management is largely community-based. The effectiveness of environmental health risk reporting to motivate sustained behaviour change is contested but as efforts to increase rural drinking-water monitoring proceed, it is timely to ask how water quality information feedback can improve water safety management. Using cross-sectional (1457 households) and longitudinal (167 participants) surveys, semi-structured interviews (73 participants), and water quality monitoring (79 sites), we assess water safety perceptions and evaluate an information intervention through which Escherichia coli monitoring results were shared with water managers over a 1.5-year period in rural Kitui County, Kenya. We integrate the extended parallel process model and the precaution adoption process model to frame risk information processing and stages of behaviour change. We highlight that responses to risk communications are determined by the specificity, framing, and repetition of messaging and the self-efficacy of information recipients. Poverty threatscapes and gender norms hinder behaviour change, particularly at the household-level; however, test results can motivate supply-level managers to implement hazard control measures—with effectiveness and sustainability dependent on infrastructure, training, and ongoing resourcing. Our results have implications for rural development efforts and environmental risk reporting in low-income settings.


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Subhash Abhayawansa ◽  
Carol Adams

Purpose This paper aims to evaluate non-financial reporting (NFR) frameworks insofar as risk reporting is concerned. This is facilitated through analysis of the adequacy of climate- and pandemic-related risk reporting in three industries that are both significantly impacted by the COVID-19 pandemic and are at risk from climate change. The pervasiveness of pandemic and climate-change risks have been highlighted in 2020, the hottest year on record and the year the COVID-19 pandemic struck. Stakeholders might reasonably expect reporting on these risks to have prepared them for the consequences. Design/methodology/approach The current debate on the “complexity” of sustainability and NFR frameworks/standards is critically analysed in light of the COVID-19 pandemic and calls to “build back better”. Context is provided through analysis of risk reporting by the ten largest airlines and the five largest companies in each of the hotel and cruise industries. Findings Risk reporting on two significant issues, pandemics and climate change, is woefully inadequate. While very little consideration has been given to pandemic risks, disclosures on climate-related risks focus predominantly on “risks” of increased regulation rather than physical risks, indicating a short-term focus. The disclosures are dispersed across different corporate reporting media and fail to appreciate the long-term consequences or offer solutions. Mindful that a conceptual framework for NFR must address this, the authors propose a new definition of materiality and recommend that sustainable development risks and opportunities be placed at the core of a future framework for connected/integrated reporting. Research limitations/implications For sustainable development risks to be perceived as “real” by managers, further research is needed to determine the nature and extent of key sustainable development risks and the most effective mitigation strategies. Social implications This paper highlights the importance of recognising the complexity of the issues facing organisations, society and the planet and addressing them by encouraging robust consideration of the interdependencies in evolving approaches to corporate reporting. Originality/value This study contributes to the current debate on the future of corporate reporting in light of two significant interconnected crises that threaten business and society – the pandemic and climate change. It provides evidence to support a long-term oriented and holistic approach to risk management and reporting.


2021 ◽  
pp. 0148558X2110252
Author(s):  
Claudia Arena ◽  
Saverio Bozzolan ◽  
Claudia Imperatore

Theoretical propositions suggest that mandatory and voluntary disclosures are related. Empirical studies focusing on this relationship provide mixed evidence as they found that mandatory and voluntary disclosures are either complements or substitutes. Relying on a proprietary, hand-collected database about the risk disclosure of oil companies, we find that voluntary risk disclosure increases with the level of mandatory risk disclosure up to a threshold above which companies reduce their voluntary disclosures. We also find that this relationship depends on the firm-level uncertainty, and it is sharpened in the presence of high exposure to liquidity risk. Overall, our results contribute to the debate on whether and on which level disclosure should be regulated. JEL Classification: M41, G14


2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chiara Crovini ◽  
Stefan Schaper ◽  
Lorenzo Simoni

PurposeThis article lays out some conceptual considerations of how dynamic accountability and risk reporting practices could be tailored during and after a global pandemic.Design/methodology/approachThis conceptual paper seeks to foster the debate on the crucial role of risk reporting considering the impact and uncertainty caused by the coronavirus disease 2019 (COVID-19) pandemic and stakeholder information needs in this context. The authors draw upon neo-Durkheimian institutional and legitimacy theories and elements of the accounting and risk management literature to discuss the challenges that the pandemic poses to risk recognition and assessment and the subsequent disclosure decision of risk information.FindingsRisk reporting has its roots in risk recognition and assessment. To live up to their accountability in these times of uncertainty, organisations need to address their stakeholders' new and changing information needs. Ad hoc disclosures and linking risk management and reporting to their business models (BM) would improve the risk recognition and assessment practices and the meaningfulness of the disclosed information. Hence, we provide some examples and discuss potential avenues to address these challenges and adapt risk reporting accordingly.Originality/valueThis conceptual paper contributes to the risk reporting and accountability research fields. Previous studies on communication during a crisis have focused on sustainability reporting. Thus, this study contributes to that literature by considering the role of risk reporting in times of an unexpected large-scale global crisis, such as the COVID-19 pandemic, and by highlighting possibilities for moving risk reporting towards becoming more accountability based.


2021 ◽  
pp. 000812562110198
Author(s):  
Ruchi Agarwal ◽  
Sanjay Kallapur

Risk reporting is often unconnected with business strategy and performance, and is considered merely as a matter of compliance, which defeats the purpose of risk management. This article describes four best practices of companies that have improved their risk reporting by strengthening the vertical and horizontal communication of risks, reporting near misses, and communicating risk digitally through apps. Better risk reporting involves simplification and incentivization. It enables organizations to improve risk management and risk culture overall.


2021 ◽  
pp. 29-60
Author(s):  
Chiara Crovini ◽  
Giovanni Ossola

This study represents a theoretical analysis with the purpose to continue the discussion on the relationship between management accounting (MA) and financial accounting (FA), by concentrating on the role of risk reporting as a possible manifestation of their convergence. Moreover, the analysis focuses on the private-firm sector as private firms represent the backbone of the economic system of several countries and little is known about financial and non-financial reporting. Drawing on the neo- Durkheimian institutional theory, this paper develops a conceptual framing that considers risk as an embedded element of the business domain and risk reporting as a direct outcome of the convergence between MA and FA in private firms. Furthermore, the neo-Durkheimian institutional theory emphasizes that the owners and managers' risk attitude is a crucial element affecting risk disclosure, especially in private firms.


Economies ◽  
2021 ◽  
Vol 9 (2) ◽  
pp. 70
Author(s):  
Michele Gendelsky de Oliveira ◽  
Graça Azevedo ◽  
Jonas Oliveira

The present study aims to identify the impact of the tone of risk reporting narratives on company market value. The paper uses a sample of 34 Portuguese non-finance companies with shares traded at the Euronext Lisbon stock exchange market. The paper conducts an automated content analysis of the risk reporting narratives included in the risk and risk management sections of the annual reports for 2018 by using the software DICTION 7 (Digitext, Inc., Austin, TX, USA) to retrieve the speech tone. Main findings indicate that the tone category “activity” is associated negatively with the company’s market value. This result shows that investors misprice risk information that incorporates traces of overconfidence, narcissistic self-confidence and heroic leadership. The present study extends prior literature by analyzing the economic incentives of the tone of risk reporting narratives, not yet studied. Findings are both relevant to investors to support their decision-making processes and managers to strategically manage their risk communication tactics and benefit from the advantages emanated from them. Limitations related to the research setting do not undermine the generalization of findings because the automated algorithm provided by DICTION assures the content analysis’s reliability. The sample used corresponds to the population of the Portuguese non-finance listed companies.


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