Unrevealing Risk Disclosure in Indonesia: The Role of Governance and Corporate Attributes

This study seeks to investigate the factors driving corporate risk disclosure practice, focusing on corporate governance elements (i.e. the presence of a risk management committee, the number of board commissioners, the frequency of board meetings, and the proportion of public ownership) and company attributes (leverage and firm size). The analysis tool uses multiple regression. By analyzing 250 observations from manufacturing companies in the Basic Industry and Chemical sectors in Indonesia from 2017 to 2022, this research found that the existence of a risk management committee, the size of the board of commissioners, and the size of the company play an important role in increasing risk disclosure. Conversely, the frequency of board meetings, public ownership, and leverage were not found to have a significant impact. These findings suggest that corporate governance frameworks and company attributes are key factors in improving risk disclosure practices.