ORGANIZATIONAL CULTURE AND CORPORATE RISK DISCLOSURE PRACTICE: AN EMPIRICAL ANALYSIS OF LISTED INSURANCE FIRMS IN NIGERIA
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Abstract
The study examines the effect of organizational culture on corporate risk disclosure practices of listed insurance firms in Nigeria. Ex-post facto design was used to investigate twenty-six (26) listed insurance firms in Nigeria as the population of the study. Purposive sampling techniques was adopted to select the sample size of ten (10) listed insurance firms, where data were extracted from their financial reports from 2012 to 2024. The panel multiple regression analysis was conducted with the aid of STATA version 17. Generalized least square regression tool was used to test for the formulated hypotheses. The findings established that, both adhocracy culture and market culture have no significant effect on corporate risk disclosure practices of listed insurance firms in Nigeria. The implication is that, managers fail to disclose risk-related information in their reporting to avoid corporate reputation. therefore, regulatory agencies should enforce corporate risk disclosure policies and regulations to help protect the interest of stakeholders. The study contributes to the existing body of knowledge by emphasizing the importance of organizational culture on risk disclosure practices among listed insurance firms in Nigeria. Further studies could adopt mixed method, such as interviews to complement the quantitative findings and offer a richer understanding of the influence of organizational culture on corporate risk disclosure.
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