VOLUNTARY DISCLOSURE OF INFORMATION IN THE CONTEXT OF CONTEMPORARY ECONOMIC THEORIES OF ACCOUNTING

O.Vysochan; Alla Yasinska

Purpose – The purpose of the article is to summarise economically oriented accounting theories and to examine their explanatory potential regarding the voluntary disclosure of accounting information by business entities. The study focuses on the theoretical interpretation of voluntary disclosure through the lens of signalling, agency, and resource dependence theories, along with a critical assessment of the applicability of impression management theory to accounting practices.
Design/methodology/approach – The study employs bibliographic analysis as the primary method for addressing the research objectives. The search for scholarly sources on the topic of voluntary disclosure of accounting information was conducted using the Scopus database, which enabled the selection of the most relevant works related to the stated theme. In addition to bibliographic analysis, general theoretical methods such as dialectical inquiry and comparison were applied to achieve the research aim. These methods facilitated a critical reflection on theoretical propositions and allowed for the comparison of approaches to interpreting voluntary disclosure within the framework of contemporary economic theories of accounting.
Findings – Analysis of scientific sources indicates that voluntary disclosure of information in the field of corporate governance is interpreted through the lens of several key theoretical approaches, each of which emphasizes specific aspects of motivation and the consequences of informational openness. Signaling theory views disclosure as a communication tool between the company and external stakeholders, where the disclosed information serves as a signal of efficiency, reporting credibility, and reputational reliability. Agency theory focuses on reducing informational asymmetry between the principal and the agent, highlighting the role of voluntary disclosure in lowering agency costs and strengthening control. Resource dependence theory links a company’s openness to its ability to attract critically important resources, which contributes to the formation of competitive advantages and the improvement of corporate image. Impression management theory emphasizes the strategic formatting of reporting with the aim of creating a positive image of the company in the eyes of interested parties, which is particularly relevant in the context of applied recommendations regarding the design and structure of informational messages. The combination of these theoretical approaches forms a multidimensional understanding of voluntary disclosure as a complex managerial tool that integrates reputational, economic, and communicative functions.
Practical implications – The generalization of theoretical approaches to voluntary disclosure forms the basis for implementing the principles of transparency and openness in corporate governance. Integrating relevant provisions into the accounting and analytical support system contributes to shaping a positive corporate image, strengthening stakeholder trust, reducing agency costs, and enhancing control mechanisms.
Originality/value – The study reveals new dimensions of positioning voluntary disclosure as a key element of managerial communication, emphasizing its role in shaping a transparent informational environment. Voluntary disclosure is viewed as an effective monitoring tool that complements corporate control mechanisms and helps reduce the risk of conflicts. The proposed vision makes a significant contribution to the
development of theoretical foundations for accounting and analytical support of management activities.

resource dependence theory

impression management.

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https://doi.org/10.22495/cocv3i4p6.
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