Purpose

This paper contributes to risk management research with reference to disclosure of risk specific information within the oil and gas industry. This paper provides empirical evidence regarding voluntary and mandatory disclosure behaviour from both a quantitative and qualitative perspective.

Design/methodology/approach

A longitudinal empirical study examines probabilistic reserve quantum reporting of UK companies, over a time-period spanning voluntary and mandatory disclosure. The researchers analyse disclosure behaviour under voluntary and mandatory time spans using a logistical regression approach to measure determinants of risk reporting. Form of regulation is considered as the fundamental driver for disclosure whilst controlling for other relevant variables. Implications for developing international regulation are presented with suggestions for further research.

Findings

Mandatory reporting is not seen as a significant influence to disclosure. Degree of risk, quality of audit firms, level of stock exchange and organisational visibility each impact on disclosure. The findings indicate that a mandatory disclosure approach is ineffective, partially explained by mimetic and normative forces and a balancing of agency-related costs and benefits. There is an inverse relationship between level of risk and risk reporting.

Research limitations/implications

Generalisation of the findings is limited due to the specific context of the extractive industry.

Practical implications

The paper seeks to inform the International Accounting Standards Board's (IASB) on-going consideration of risk reporting and also its extractive industries deliberations.

Originality/value

The paper provides original insight into the area of risk management with particular focus on risk specificity and quantitative metrics for risk profiling not previously tested. The paper introduces risk profiling as a variable in risk disclosure.

中文翻译：

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风险披露行为：来自英国采掘业的证据

目的

本文参考了石油和天然气行业中特定于风险的信息的披露，为风险管理研究做出了贡献。本文从定量和定性的角度提供了有关自愿和强制披露行为的经验证据。

设计/方法/方法

一项纵向的实证研究研究了在自愿和强制披露范围内的一段时间内，英国公司的概率储备量报告。研究人员使用逻辑回归方法来衡量风险报告的决定因素，从而分析了自愿性和强制性时间跨度下的披露行为。监管的形式被认为是披露的基本驱动力，同时控制了其他相关变量。提出了发展国际法规的含义，并提出了进一步研究的建议。

发现

强制性报告对公开的影响不大。风险程度，审计公司的质量，证券交易所的水平和组织的知名度都会对披露产生影响。调查结果表明，强制披露方法无效，部分原因是模拟和规范力量以及与机构相关的成本和收益之间的平衡。风险水平与风险报告之间存在反比关系。

研究局限/意义

由于采掘业的具体情况，研究结果的概括性受到限制。

实际影响

本文旨在为国际会计准则理事会（IASB）持续考虑风险报告及其采掘业审议提供信息。

创意/价值

本文提供了对风险管理领域的独到见解，尤其侧重于风险特异性和以前未测试过的风险分析的定量指标。本文介绍了风险分析作为风险披露中的变量。