FIRMS SPECIFIC ATTRIBUTES AND VOLUNTARY DISCLOSURE OF QUOTED CONSUMER GOODS FIRMS IN NIGERIA
Journal Title: Gusau Journal of Accounting and Finance - Year 2021, Vol 2, Issue 1
Abstract
The research investigates the effect of corporate-specific attributes and voluntary disclosure of quoted consumer goods firms in Nigeria. The study collected its data from historical financial statement and Accounts of 15 companies under study quoted in Nigeria stock exchange for the period of 2009–2018. Ex-post factor research design was employed and multiple regressions were assigned as the techniques to examine the data. The finding communicates that company’s attributes proxied by; age of the company, and leverage recorded a significant positive effect on voluntary release information. However, size of the firm, profitability and ICT were established to be insignificantly and positively affected the voluntary disclosure of quoted firms under study. Conversely, liquidity communicates negative and insignificant effect on voluntary publication by quoted consumer goods firms in Nigeria. From the findings, it is suggested that, the management of quoted consumer goods companies in Nigeria should pay more attention on the disclosure of voluntary information as it affects share holder’s investment decision making, and reduce agency conflict resulting from information asymmetric between management and firms’ stakeholders. However, as they disclose additional information voluntarily, stakeholders will be informed and, in turn, make the right investment decisions in the companies and also retain its positive impression in mind of their existing and potentials investors and society in general.
Authors and Affiliations
Jibril Ramalan, Aminu K. Kurfi, Aminu M. Bello
Keywords
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