[01] Mahdi Filsaraei, Department of Accounting, Bojnourd Branch, Islamic Azad University, Bojnourd, Iran. [02] Alireza Azarberahman, Department of Commerce, Aligarh Muslim University, Aligarh, India.

In this study, the relationship between firms’ characteristics and voluntary disclosure extent on annual board of director’s reports of listed firms in the Tehran Stock Exchange (TSE) has been examined. Since usually the disclosure of information during different period remains unchanged, just the board of directors’ reports of one financial year has been considered. The statistical population of the research consists of the firms listed in Tehran stock exchange (TSE) that a sample of 254 firms was selected. To test hypotheses, some statistical methods were used such as one-way variance (ANOVA) and multiple regression. The results of the study show that there is a significant difference in the extent of voluntary disclosure of financial and non-financial information between firms in different industries. It was also found that there is a significant positive relationship between a firm’s size and the extent of voluntary disclosure of information in manufacturing firms, and in fact the larger the size of the firm cause to more disclose of voluntary information. It was also argued that there is not any significant relationship between the size of auditing firms and the extent of voluntary disclosure. Moreover, the statistical results did not show any significant relationship between the profitability and the debt ratio and the extent of voluntary disclosure.

Voluntary Disclosure, Financial Information, Non-financial Information, Board of Directors’ Report

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