This paper assesses the impact of a comprehensive set of macroeconomic factors (including changes in exchange rate, changes in inflation rate, changes in liquidity, changes in trade balance, and changes in gross domestic production) on voluntary disclosure in companies annual reports. The analysis of systematic factors) economic variables and the level of voluntary disclosure is ignored in capital market researches, which is considered the contribution of the present research.The data set includes 113 companies listed on Tehran Stock Exchange (TSE) for the period of 1391 -1398. The study used Ordinary Least Squares (OLS) regression model to examine the relationship between above mentioned macroeconomic factors and corporate voluntary disclosure. The empirical results show that among macroeconomic variables that have been examined, there are only significant relationships between changes in inflation rate, liquidity, and gross domestic product and voluntary disclosure. We did not find any statistically significant association between other macroeconomic factors (including changes in Exchange rate and trade balance) and voluntary disclosure. The results suggest that macroeconomic variables can explain the corporate voluntary disclosure.

One of the literature accounting and financial management, corporate governance, because it is believed that the mechanism of corporate governance receiver capabilities are used That have a direct impact on the ability of investors to force management to efficient use of existing resources in organizations are. The main role of financial reporting, effective in delivering information to people outside the organization credible and timely manner. Managers can use their knowledge about the company's business activities to improve the effectiveness of financial faces, as a means of conveying information to investors and potential creditors, use one of the modes of transmission of information, disclosure of which would be financed through faces. In this study, the relationship between ownership concentration and the percentage of institutional ownership has been dealt with voluntary disclosure data on the five-year period between the years 1389-1393 the firms listed in the Tehran Stock Exchange has been extracted. In order to analyze and test data, statistical software was used Excel and Eviews. The results of tests indicate that the concentration of ownership and the percentage of institutional ownership have a significant relationship with the voluntary disclosure.

Objective: Previous research has shown that providing voluntary and discretionary information by companies can help reduce investor risk. But providing this information depends on the decisions of managers. Therefore, the purpose of this study is to investigate the effect of manager’ s narcissism on voluntary disclosure of company information. Methods: With the use of data gathered in the time period of 1388 to 1397 from 135 companies listed on the Tehran’ s Stock Exchange, the hypotheses tests have been performed using multiple regression. Results: After doing statistical analysis on CEO narcissism on voluntary disclosure of company information, the result of the hypotheses show that it has a significant and meaningful negative effects. In this study, two indicators including: “ the ratio of manager’ s rewards to total salaries” and “ the size of manager’ s signatures” have been used to measure manager’ s narcissism. According to the result of the study, in companies where the ratio of manager’ s bonuses is paid a higher percentage than other managers in other companies, as well as managers who have a larger signature size, discretionary disclosure of information is less. Conclusion: The personality traits of narcissistic managers, compared to other managers, lead them to take actions that are out of the ordinary and seek the attention and praise of others, and the these actions will untimely affect the performance of the organization. Therefore, personal prejudices and positive illusions of narcissistic managers affect the supply of financial information to the stock exchange, and therefore, these managers tend to ignore confidential negative feedback and will provide information about the company’ s performance when communicating with the shareholders despite of considering the reality of the matter. In addition these managers may knowingly miss present information to convince investors that ongoing projects have promising future. Thus, the occurrence of this phenomenon among managers will cause them to try to reduce the disclosure of voluntary information to investors and other shareholders by using different methods.

Voluntary disclosure of managers as one of the mechanisms of transparency are noticed by analysts and capital market participants. Identifying the determinants of voluntary disclosure can help to understand the factors that affected the transparency and efficiency of capital market and efficiency of resource allocation. In this study, the characteristics of the company, corporate governance and stakeholder power as the determinants of voluntary disclosure will be discussed. The sample consisted of 146 companies listed on Tehran Stock Exchange in the period 2010- 2015. The hypothesis of this study is investigated with the structural equation modeling and multivariate regression to be comprehensive analysis of the effect of latent variables and their components on voluntary disclosure. The findings show, company's structural features have a positive and significant impact and company's performance features have significant and negative impact on the level of voluntary disclosure. Features of the board of directors, ownership structure and audit have positive and significant impact on the level of voluntary disclosure. Also Internal stakeholders, significant negative impact as well as external stakeholders have positive and significant impact on their level of voluntary disclos.

The purpose of this study is to investigate the relationship between the usefulness of voluntary disclosure based on the macro components of the International Accounting Standards Board and the judgment of investors in the companies admitted to the Tehran Stock Exchange during the period of 2011 and 2015. To this end, 127 companies were selected using systematic elimination sampling method and tested using the Mechelli, Cimini and Mazzocchetti model. A checklist to measure the voluntary disclosure of companies with five dimensions of business nature, goals, business strategies, resources, risks and communications, results of company operations and performance measurement criteria was used. The findings show that, in general, voluntary disclosure of the main components of the business model provides a higher value relation than the limited disclosure components. Based on these findings, it is suggested that corporate executives with more attention to these indicators provide more precise conditions for users of financial statements.

Some researches made in the field of agency problem issue, deal with the role of control systems regarding owners and managers. In this research the relationship between the two control mechanisms, namely the voluntary disclosure (external control mechanism) and outside directors (internal control mechanism), which are reductive of agency problems, has been studied. For this reason, a sample consisting of 239 manufacturing companies listed in Tehran stock exchange (TSE) which have published financial statements and Management discussion and analysis report for 20 March 2007 was taken. Voluntary disclosure has been identified by 71 revised Indexes applied in previous studies. Results show that, the applied model describes 20 percent of changes in the voluntary disclosure that is as about the previous findings. However, there was no significant relationship between voluntary disclosure and outside directors. This study is a movement towards the future researches regarding the voluntary disclosure, and emphasizes the transparency in capital markets.