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
Related Articles
- EP ID EP709168
- DOI -
- Views 54
- Downloads 0
TRADING FLOORS AUTOMATION AND STOCK MARKET EFFICIENCY DURING EQUITY ISSUES ANNOUNCEMENTS IN NIGERIA
This paper examines effect of the automation of trading platforms on the reaction of the Nigerian stock market to Seasoned Equity Offerings (SEOs) announcements. The study utilized a sample of 86 SEO announcements betw...
MODERATING ROLE OF AUDIT QUALITY ON THE VALUE RELEVANCE OF ACCOUNTING INFORMATION OF LISTED FIRMS IN NIGERIA
This study empirically examined as to whether earnings per share (EPS), book value per share (BVP), cash flow per share (CFPS), and dividend per share (DPS), as well as the interaction of audit quality with EPS, BVPS, C...
INHERITANCE MANAGEMENT AND ACCOUNTABILITY: A CASE STUDY OF Z AND S INHERITANCE COMMITTEE IN LAGOS OF NIGERIA
Although the unprecedented level of unclaimed inheritance attracted the attention of legal and religious scholars across Muslim majority countries, concern over inheritance, however, took a global dimension when Musawah,...
FINANCIAL PERFORMANCE OF BANKS IN SELECTED AFRICAN COUNTRIES: DOES INSTITUTIONAL QUALITY MATTER?
The importance of the banking sector to any nation's development cannot be overemphasized due to its ability to provide the loanable funds required for investment and capital formation. However, the decline in the finan...
DETERMINANTS OF MARKET PRICE OF COMMON STOCK OF LISTED INDUSTRIALIZED FIRMS IN NIGERIA
This study explores the effect of the dividend payout ratio on the share price of listed industrialized firms' common stock in Nigeria. This study comprises sixty-three industrialized firms whose shares were listed on th...