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This research focuses on the importance of ownership structure as a determinant of risk disclosure. It is expected to contribute to the literature particularly in the Malaysian context, where risk disclosure practice is in the infancy stage. This study uses multiple regressions in assessing the variability of the extent of risk disclosure. The overall results confirm that highly concentrated ownership would lead to high agency problem, which then leads to less disclosure. This implies that, to promote greater transparency in countries where many of the large listed companies are family-owned, more stringent laws that mandates adequate risk disclosure is clearly warranted. This would ensure that the needs of all stakeholders are properly met. Keyword: Ownership structure, Risk Disclosure, Corporate Governance *Corresponding author. Universiti Sains Malaysia, 11800 Penang, Malaysia Tel: 604-653 2754, Fax: 604-653 7448 Email: azlan_amran@usm.my ** PhD, School of Management, Universiti Sains Malaysia, ***School of Management, Universiti Sains Malaysia

Ownership structure and risk disclosure: a study of Malaysian listed companies