Ownership Structure and Voluntary Disclosure among Nigerian Listed Non-financial Firms

Johnson Kolawole Olowookere (), Risikat Moturayo Shittu () and Titilope Esther Olorede ()
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Johnson Kolawole Olowookere: Department of Accounting, Faculty of Management Sciences, Osun State University, Nigeria
Risikat Moturayo Shittu: Department of Accounting, Faculty of Management Sciences, Osun State University, Nigeria
Titilope Esther Olorede: Department of Accounting, Faculty of Management Sciences, Osun State University, Nigeria

Business & Management Compass, 2023, issue 1, 41-59

Abstract: Investors are concerned with the disclosure of information by management of firms to make relevant and timely decisions, therefore, this study investigates the influence of ownership structure on corporate voluntary disclosure of listed non-financial firms in Nigeria. The population of the study consists of all non- financial listed firms on the Nigerian Exchange Group. Using purposive sampling technique, the study selected a total of 67 listed non-financial firms having the required information necessary for the study between year 2011 to 2020. The study employed the dynamic panel Generalised Method of Moment (GMM) technique to analyse the data. The system GMM results revealed that block and institutional ownership exert positive significant influence on the disclosure of voluntary information by listed non-financial firms in Nigeria while the impact of managerial ownership was positive but not significantly associated with corporate voluntary disclosure.

Keywords: voluntary disclosure; block ownership; institutional ownership; managerial ownership (search for similar items in EconPapers)
JEL-codes: M40 M41 (search for similar items in EconPapers)
Date: 2023
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