The study documents that firm size and industry type
influence voluntary segment disclosure. Suggesting, these
are the variables motivating management to voluntary
disclosed segments information in Nigeria. Descriptive
result indicates that the level of voluntary disclosure is 43%
which is an indication that there is tendency for firms to
disclose more segments information in the post adoption
period through increase reliability of amounts reported in
the company’s annual reports. Moreover, an indication of
negative significant association with (DIFF) means that as
large proportion of companies’ equity is widespread among
shareholders there is separation between ownership and
management among Nigerian largest companies. This is
likely to be an indication of information asymmetry.
Furthermore the identification of negative significant
association with (ROI) in the study is an indication that firm
with lower profitability tend to voluntary disclosed more
segment information than companies with higher
profitability in Nigeria. Future research may be conducted
by increasing the number of firms examined to make it more
generalized and by adding more variables to increase the
strength of evidence beyond that presented in this study.