Does Voluntary Disclosure improve Firm Performance: Evidence from Pakistan

  • Adnan Ahmad Institute of Business Studies and Leadership, Abdul Wali Khan University Mardan.
  • Charan Jeet Kaur Lecturer in Economics, Government Post Graduate College for Women, Mardan.
  • Mohay Uddin Khattak Assistant Professor, Deptt: of Business Administration, FUUAST Islamabad.
Keywords: Voluntary disclosure, Corporate Governance, firm performance

Abstract

This study investigated the influence of voluntary disclosure (VD) and Corporate Governance (CG) on firm performance in the non-financial sector of Pakistan. The sample size consists of 300 firm-year observations of a non-financial sector of Pakistan for the year 2002 to 2016. The results indicate that several elements of VD and CG mechanisms are important for better firm performance. The Board of Independence and disclosure of product information show a positive and significant impact on Earning per share and Return on Asset (ROA). However, CEO duality has a significant but negative association with firm performance. While board size and disclosure of future strategy show no effect on firm performance.

Published
2018-12-15