Voluntary disclosure in the annual reports of Fijian companies

Abstract

This paper investigates voluntary disclosure of information by listed companies in Fiji. The paper aims to extend the literature on voluntary disclosure of information in a developing country context. The empirical data was gathered from the years 1999 onwards to give a longitudinal account of voluntary disclosure. The paper is informed by legitimacy theory. Data were gathered from the annual reports of 15 companies listed on the South Pacific Stock Exchange in Fiji. We find that the levels of voluntary disclosure in Fijian listed companies are low and do not support the assumptions of legitimacy theory. The outright adoption of International Accounting Standards by Fijian public limited companies does not engender in adequate disclosure of information on a voluntary basis. This paper extends the disclosure practice literature in developing countries by examining the voluntary practice by listed Fiji companies. It adds to our understanding of voluntary disclosure and therefore represents addition to, and extension of the international literature engaged in efforts to interpret the motives of such disclosure.

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