Literature suggests that dividend has no impact on shareholders value in the absence of taxes and market imperfections. Hence, companies invest excess funds in positive net present value projects instead of paying out as dividends. Literature also suggests that market valuation of stocks depends...

This paper investigates the level of voluntary disclosure by listed Corporations of South Pacific Stock Exchange (SPSE). The major objective of the paper is to contribute towards the literature on level of voluntary disclosure in a developing country context. The focal point of the research was...