The relationship between disclosure of risk factors and firm performance of listed companies on the Stock Exchange of Thailand

This study examines the relationship between risk factor disclosure and firm performance as measured by Tobin's Q, ROA, and ROE of Thai listed companies. Disclosure of risk factors consists of strategic risk disclosure, operating risk disclosure, financial risk disclosure, and compliance risk disclosure. The study analyzed secondary data from 384 listed companies from the Stock Exchange of Thailand (SET) from 2017 to 2019. The findings revealed that there is a statistically positive relationship between operating risk disclosure and ROA. Meanwhile, the other risk disclosures are insignificantly related to corporate performance. This implies that a policy of enhanced risk management disclosure, especially operating risk disclosure, is related to improved firm performance.