This study aims to analyze the effect of ownership managerial, institutional ownership, and independent commissioner for voluntary disclosure. The number of research samples as many as 25 companies obtained by purposive sampling method. The analysis technique used in this study is a multiple linear regression analysis. The results of the analysis show that managerial ownership and institutional ownership affect the voluntary disclosure of the company. In other words, the level of share ownership by management and institutional will affect the level of a voluntary disclosure made by the company. Whereas independent Commissioners do not affect the company's voluntary disclosure. The implication of the results of this study can theoretically show that managerial and institutional information requires more information in the company's voluntary disclosure, and in practice company management can consider what should be informed involuntary disclosure.

Keywords:

Voluntary disclosure, managerial ownership, institutional ownership, independent commissioner