Effect of Voluntary Disclosures on Firm’s Performance: A study on Pharmaceutical Companies of Bangladesh
Mohammad Riasat, Sajid
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The pharmaceutical industry of Bangladesh has been awarded the “Product of the year” award in 2018 for being the biggest sector which contributes for Bangladesh economy. The sector has become very profitable as it is newly exporting pharmaceuticals goods in foreign countries. Company faces many challenges to be more transparent in disclosing Information, because presence of voluntary information is very useful part in decision making process now-a -days. The annual report is basically a source of information for investors, it is one of the tools used in the decision making process to invest in the capital market and also it is an accountability which ensures that the resources are entrusted to him by the management. The more information of voluntary disclosures in the reports reflects good quality of the report to the users of annual reports. This study is being conducted to analyze the exceedingly economic contributing Bangladeshi pharmaceutical industry impacts voluntary disclosure on their performance. This study is being examined by the voluntary disclosure of the organization’s performance with the voluntary disclosures score of each company and its relation with Q-ratio. In total of 8 pharmaceutical companies are taken that are listed under Dhaka Stock Exchange (DSE) as sample and collected one year data on their voluntary disclosures from their own annual reports to analyze the impacts.
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