OWNERSHIP STRUCTURE AND VOLUNTARY DISCLOSURE OF LISTED INDUSTRIAL GOODS COMPANIES IN NIGERIA
Abstract
This study is on ownership structure and voluntary disclosure of listed industrial goods companies in Nigeria. The total population for the study is 200 staff of Dangote group of company, Lagos state. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made managers, production managers, cashiers and junior staff were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies.
CHAPTER ONE
INTRODUCTION
1.1 Background of the study
Annual reports are the primary medium various stakeholders rely on for making decisions. Thus management, responsible for preparing the annual reports, is accountable to all the stakeholders. As a result, they should disclose all relevant information in the annual reports for stakeholders to make efficient economic decisions. In addition, increased disclosures of information, apart from the ones required by the standards and the regulators are important. These additional disclosures protect the interest of minority shareholders and ensure transparency of company’s information to its interested parties. Meek, Roberts and Gray (1995), define voluntary corporate disclosure as disclosures in excess of requirements in annual reports and other media as deemed relevant by the company management for an effective decision-making by the users of the financial reports. However, agency theory assumes a separation of ownership from control would lead to