<p><em>This study consists of t</em><em>wo test models. The first model investigates the </em><em>impact of the existence of a</em><em>n oversight committee on the extent of voluntary disclosure. The </em><em>second model investigates the </em><em>impact of  the extent of voluntary disclosure</em><em> on stock price.</em></p><p><em>The data was collected from the annual reports of non-financial companies listed on the Indonesian Stock Exchange (BEI) in the period of 20</em><em>12, 20</em><em>13 and 201</em><em>4. Analysis tools used in the first test model is a </em><em>multiple regression and in the </em><em>second is </em><em>simple regression</em><em> model. The results of analysis 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><em></em></p>