摘要： This study examines how product market competition affects firms' narrative disclosures of Item 1A Risk Factors in 10-K filings. We find that firms in more concentrated industries tend to disclose a greater quantity of narrative risk information. Besides, such firms provide risk disclosures more similar to those of their competitors, hence reducing the quality of the disclosure. We also document similar findings for idiosyncratic risk disclosure, which is inherently more firm-specific. The results imply that firms in more concentrated industries avoid divulging risk information in their narrative disclosures by disclosing more similar information rather than by reducing the amount of risk disclosure. 出版者： Hong Kong: Routledge 出版日期： 2016-01-02 出處： Asia-Pacific journal of accounting & economics, 2016-01, Vol.23 (1), p.43-74 資源來源： Taylor & Francis Journals Auto-Holdings Collection 版權： 2015 City University of Hong Kong and National Taiwan University 2015 版權： Copyright City University of Hong Kong Mar 2016 識別號： ISSN: 1608-1625 識別號： EISSN: 2164-2257 識別號： DOI: 10.1080/16081625.2014.1003569
