To what extent Covid-19 pandemic affect corporate risk disclosure : case of UAE listed companies

This study assesses the effect of the Covid-19 pandemic on corporate risk disclosure (RD) for the listed companies in UAE and its main determinants. Applying a narrative risk technique on 78 listed companies, the paper's findings provide the following evidence. First, RD has increased considerably from 2019 (pre-pandemic year) to 2020 (pandemic year). The highest increase of RD is reported for logistics and transportation sectors, then manufacturing sector then financial sector. The lowest change of RD is observed for the energy sector then for the telecommunication sector. Second, most of the RD changes are observed for pandemic related words, as it increased considerably in 2020. Third, RD increased with the increase of firm profitability. Fourth, aged firms and foreign firms have increased corporate RD during the pandemic. Fifth, audit quality has a positive impact on the increase of RD. Sixth, the decrease of ROA is significantly correlated to the Covid-19 related information disclosure.