VOLUNTARY DISCLOSURE AND VALUE RELEVANCE OF ACCOUNTING INFORMATION OF LISTED INDUSTRIAL GOODS FIRMS IN NIGERIA

AKUME, James Terkende
Department Of Accountancy
School of Management Sciences
Federal polytechnic Wannune, Benue-Nigeria
akume5655@gmail.com
ABSTRACT
The study investigated effect of voluntary disclosure on value relevance of accounting information of
listed industrial goods firm. Correlation and descriptive research design was adopted. The population
of the study comprised 13 industrial goods firm listed on the Nigerian exchange group. A sample of
11 listed industrial goods firm was drawn for a period of 6 years (2017-2022). Secondary data from
annual report of sampled firms from 2017-2022 was extracted and used for analysis. General
regression and correlation techniques of data analysis were used in the analysis. The study found that
earnings per share had a positive and insignificant relationship, book value per share and voluntary
disclosure had negative and insignificant effect on share price of listed industrial goods firm in
Nigeria. However, dividend per share has positive and significant effect on share price of listed
industrial goods firm in Nigeria. The study recommends that Listed industrial goods firm should
improve the relevance of financial and non-financial disclosures in order to increase the efficiency of
capital markets and that National accounting standard setters and preparers of accounting information
should gear effort toward improving the quality of earnings information which is the most widely
used accounting numbers in Nigeria for investment decisions.
Keywords: value relevance, voluntary disclosure, earnings per share book value per share, dividend
per share