The effect of voluntary disclosure on stock market returns of companies listed at the Nairobi securities exchange
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Date
2015-01Author
Mwangi, Mirie
Mwiti, Jacqueline K
Language
enMetadata
Show full item recordAbstract
Voluntary disclosure is aimed at providing a clear view to stakeholders
about the business’s long
-
term
sustainability and reducing information asymmetry and agency conflicts between managers and investor
s. The
objective of this study was to determine the effects of voluntary disclosures on stock market return
s of companies
lis
ted at the Nairobi Securities Exchange. The study sampled twenty firms for the period 2009 to 2013.
It
employed multiple linear regression of market performance of the firms in the five year period again
st voluntary
disclosure, exchange rate, interest rate
and rate of inflation.The results were that each of the factors was
positively related to market performance for firms listed at the NSE. The study recommends companies
to have
voluntary disclosure above the statutory requirements set by the regulatory ag
encies as it can result in increased
stock returns.
Citation
Mwangi, Mirie and Mwiti, Jacqueline K(2015). The effect of voluntary disclosure on stock market returns of companies listed at the Nairobi securities exchange. International journal of humanities and social science, 1(6); pp. 99-105Publisher
University of Nairobi