Firm-level Variables' Impact on Voluntary Disclosure : Mongolian Stock Exchange Case

Voluntary disclosure provided by the public listed companies brings macro and micro level benefits. To achieve the benefits from voluntary disclosure, it is essential to evaluate the current state of disclosure and identification of the determinants of the disclosure is crucial. The paper evaluates the voluntary disclosure among Mongolian stock exchange listed companies and investigates the firm-level variables influencing on the voluntary disclosure. The result shows firm size, type of external audit firm, number of listed years variables have significant and positive relationship with voluntary disclosure and significant negative relationship exists between number of operating years and voluntary disclosure.