Determinants of Voluntary Disclosure in Financial Statements Among Non-Financial Firms in Developing Economies

Posted: Dec 06, 2025

• Harper Smith
• Henry Baker
• Henry Johnson

Abstract

The landscape of corporate disclosure in developing economies presents a complex tapestry of institutional constraints, evolving governance frameworks, and unique market pressures that distinguish it fundamentally from developed market contexts. Voluntary disclosure practices among non-financial firms in these economies remain poorly understood through traditional financial reporting lenses, requiring innovative methodological approaches that can capture the emergent complexity of disclosure decision-making. This research addresses this gap by introducing a quantum-inspired computational framework that reconceptualizes voluntary disclosure as a quantum system rather than a classical deterministic process.