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Considering the business environment, operations, and regulatory environment companies operate in, disclosure requirements per the regulatory authorities have been more stringent. This study examined the degree of disclosure of risk information disclosed by companies established in India in the automobile sector listed on the National Stock Exchange (NSE) and listed international companies with unlisted subsidiaries in India. This study also aims to identify the governance attributes that influenced the practice of risk disclosure among the selected companies in India. The main risks in top-performing automobile companies in India have disclosed are examined in this paper, along with the board characteristics associated with the disclosure of corporate risk information. The variables included in the study are board size, board independence, and ownership concentration. The content analysis approach was adopted to determine the degree of risk disclosure practices. This study has also applied the descriptive statistics method and fixed effect analysis to measure the degree of information disclosure and to elaborate on the interrelationship between disclosure practices in India and governance attributes. Assessing India's top-performing automobile companies eventually unraveled the risk disclosure practices. Agency and signalling theories were adopted in this study to elucidate the company disclosure practice. The study reveals that there is a significant positive association between board size and the extent of risk disclosure; a significant positive association between board independence and the extent of risk disclosure; and a significant negative association between ownership concentration and the extent of risk disclosure.
Ganesaraman et al. (Wed,) studied this question.