Voluntary Corporate Information Disclosure and Image Promotion in Nigeria amidst Financial Crises

Abstract

Voluntary corporate information is often used by firms to ‘explain themselves’ to investors. This paper investigates the extent of such disclosures by firms in Nigeria during the recent global economic meltdown. Applying the content analysis technique to annual reports drawn from 50 quoted firms, evidence shows that voluntary disclosure is relatively low and not in tune with investors’ preferences. Much is therefore left to be done by the accounting profession in Nigeria towards improving the quantum of such disclosures, particularly for purposes of enhancing corporate growth and overall development of the economy.