10.5937/sjm9-5784 = The use of voluntary disclosure in determining the quality of financial statements: Evidence from the Nigeria listed companies

Ezekiel Oluwagbemiga Oyerogba

20 citations0/0 files storedSerbian Journal of Management

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Auditing, Earnings Management, Governance Corporate Social Responsibility Reporting Financial Reporting and XBRL

Abstract

The purpose of this study was to establish the use of voluntary disclosure in determining the quality of financial statements among the listed companies in Nigeria. Specifically the study investigated on the effects of voluntary disclosure on investor decision and performance of listed companies in Nigeria. This study adopted an exploratory design which is described as a method of collecting information by interviewing or administering a questionnaire to a sample of individuals. The instrument of data collection for this research was a questionnaire as the study used primary data. The study targeted all the 258 listed companies in Nigeria. The study population used in this research comprised of preparers (accountants), external auditors and users of accounting information (financial analysts, stockbrokers, bankers, regulators and educators). The sample of this study was 140 whereby twenty questionnaires were distributed in every category of the respondents. Descriptive statistics such as mode, median, mean, standard deviation, etc were used to perform data analysis. These measures were calculated using Statistical Package for the Social Sciences (SPSS 20) software. SPSS tool (Statistical Package for the Social Sciences) was used to organize and analyze data. The study findings indicated that there was increased performance and investor decision making was easy to make due to voluntary disclosure. The results indicate that voluntary disclosure was satisfactory in explaining investor decision making and performance of listed companies. It was possible to conclude from the study findings that voluntary disclosure was statistically significant in explaining investor's decision and performance of listed companies in Nigeria. It was also possible to conclude that there was high level of voluntary disclosure in Nigeria listed firms which led to high performance of the firms and made it easy for investors to make decision whether to invest in the companies or not.

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References

1976Theory of the firm: Managerial behavior, agency costs and ownership structure 2002Illiquidity and stock returns: cross-section and time-series effects 2001Information asymmetry, corporate disclosure, and the capital markets: A review of the empirical disclosure literature 1983Discretionary disclosure 1981Good News and Bad News: Representation Theorems and Applications 1981The Informational Role of Warranties and Private Disclosure about Product Quality 2001Essays on disclosure 1999The Economic Consequences of Increased Disclosure

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2018Stakeholders influence on voluntary disclosure practices by listed companies in Nigeria

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