Non-financial reporting in non-profit organisations: the case of risk and governance disclosures in UK higher education institutions

This paper investigates non-financial reporting in non-profit organisations. Specifically, it examines the extent to which UK higher education institutions (HEIs) make voluntary disclosures relating risk management practices, and whether composite governance quality index senior team characteristics can influence such disclosures. Using a sample of HEIs over number years drawing insights from neo-institutional theory, our findings are three-fold. First, baseline contribute literature by showing that level disclosure among is relatively low, especially when compared prior studies have been conducted on similar-sized publicly traded corporations. Second, we providing timely evidence impact disclosure. In particular, contributes existing demonstrating better-governed tend engage than their poorly-governed counterparts. Finally, study extant new offers support for “shared” model HEIs. show positive quality–risk relationship moderated/explained largely team. Our robust controlling endogeneities alternative estimation techniques, with major implications reporting. HIGHLIGHTS (NFR) organisations, specific focus (HEIs)We examine effect HEIs' disclosures; We investigate moderate quality-risk nexus HEIsWe find levels disclosuresWe further