Voluntary Disclosure and Stakeholders Perception of the Quality of Accounting Information among Listed Companies in the Nigerian Stock Exchange

The primary language between companies and its stakeholders is the accounting information provided. The study set out to determine how voluntary disclosures influences quality of Financial Reporting volunteered by managers to   shareholders in listed Nigerian banks. Two research questions and one hypothesis were stated for the study. The descriptive survey research design was adopted for the study.  This research is based on a survey of all companies operating in Nigeria that are listed on the Nigerian Stock Exchange. One instrument for the study was adopted from Silvia, Romualdo & Gerlando (2016) titled Voluntary disclosure index. Another instrument to measure shareholder’s perception on quality of information and its effect on investment decision was developed by the researchers.  This was validated by experts (Lecturers and Investors). A pilot study was conducted using 20 samples of the questionnaire. The reliability of the data gathering instrument was ascertained using the test- retest method.  This gave a coefficient of 0.83, indicating that the instrument was suitable for use in the study.  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).  A sample size of120 was purposively sampled for the study.  Primary data was analyzed by use of Mean and standard deviation to answer the research questions and regression to test the null hypothesis at .05 level of significance. The study concludes that voluntary disclosures influence investors’ decision making to a great extent. Based on the results of this study, it is recommended that all companies should disclose any information may positively influence investors’ decisions, whether this information is mandatory or optional.