Voluntary disclosure quality, institutional ownership, and stock price volatility: Evidence from a frontier market

In this paper, we examine the impact of voluntary financial disclosure quality on stock price volatility non-financial firms quoted Tunis Stock Exchange. Empirically, first test volatility. Then, combined effect and institutional ownership We study a sample 411 annual reports non companies listed Tunisian exchange observed over 2010–2019 period. The results show that has negative Our also is still significantly even after incorporating into our empirical model to robustness results. Moreover, positive lessened by its indirect relationship with quality.