This paper presents an empirical investigation on the perceptions of individual investors about the impact of accounting disclosures on their decision makings on the stock exchange market. The study uses some quantitative methods with survey questionnaires sent to investors participating in the Vietnam stock market. By using SPSS 22, the research develops a research model with 11 accounting information groups (factors) which are measured by 82 items. The results indicate that the income information significantly affected investors’ decisions on buying, selling and holding securities while the information on assets, the accounting principles and policies had little impact on individuals’ investment decisions. The voluntary disclosures, however, show more effects than mandatory disclosures on the investors' decision making.

This study is an empirical research into the gap between disclosures in annual reports by listed companies and the needs of information by individual investors for investing decisions. The research uses some quantitative methods with the data collected from the annual reports of the top 30 non-financial listed companies having the high market capitalization and good liquidity on the Vietnam Stock Exchange. The authors compare 82 information disclosed by the corporates with the expectations of the investors by using SPSS 22. The results indicate that there is a discrepancy between the perception of individual investors and listed companies about the useful information in the corporate reports. In addition, both the mandatory and voluntary disclosures do not satisfy the requirements of the investors; however, the mandatory information is provided more than the voluntary one by the listed companies.