Corporate Governance, Ownership Structure, and Risk Disclosure

Abstract

This study aims to examine the relationship between ownership structure, corporate governance, and risk management disclosure based on the results of empirical studies over the past five years. The research method used is library research by examining various relevant scientific articles published in the last five years. The results of the study show that the implementation of effective corporate governance through the mechanism of independent board of commissioners, audit committees, and risk management committees has a positive effect on the breadth of risk disclosure. Meanwhile, public and institutional ownership structures have been shown to encourage higher levels of information disclosure than concentrated ownership. The analysis with a stakeholder theory and signaling approach confirms that risk disclosure serves not only as a reporting obligation, but also as a strategic communication tool that strengthens investor trust and company reputation. This study makes a conceptual contribution to understanding the interaction between governance, ownership structure, and risk transparency and serves as a basis for further empirical research in various industry contexts.