<p><em>This study consists of t</em><em>wo test models. The first model investigates the </em><em>impact betweenthe existence of a</em><em>noversight committee on the extent of voluntary disclosure. The </em><em>second test model investigates the </em><em>impact betweenthe extent of voluntary disclosure</em><em> on stock price.</em></p><em>The data was collected from the annual reports non-financial companies listed on the Indonesian Stock Exchange (BEI) the period 2012, 2013 and 2014. Analysis tools used in the first test model is a multiple regression and a second test using simple regression model is also performed. The results of analyses show that only the existence of the risk management committee has a significant positive effect on the extent of voluntary disclosure. Then, the extent of voluntary disclosure has a significant positive effect on stock prices.</em>