VALUE RELEVANCE OF INTERNATIONAL FINANCIAL REPORTING STANDARD ADOPTION IN NIGERIA FINANCIAL SERVICE FIRMS
VALUE RELEVANCE OF INTERNATIONAL FINANCIAL REPORTING STANDARD ADOPTION IN NIGERIA FINANCIAL SERVICE FIRMS
Abstract:
This study examines the value relevance of International Financial Reporting Standards adoption in the Nigerian financial service firms. The study utilizes secondary data extracted from 35 listed firms for the period of 8 years (2008 to 2015); 2008-2011 for pre IFRS adoption and…
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COMPARATIVE VALUE RELEVANCE OF ACCOUNTING INFORMATION FOR CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS IN LISTED FINANCIAL SERVICE FIRMS IN NIGERIA
COMPARATIVE VALUE RELEVANCE OF ACCOUNTING INFORMATION FOR CONSOLIDATED AND SEPARATE FINANCIAL STATEMENTS IN LISTED FINANCIAL SERVICE FIRMS IN NIGERIA
Abstract:
In a company with a group structure, financial information is presented in two folds; via the consolidated and separate financial statements. The availability of the same class of information in two different statements carrying two…
EFFECT OF MANDATORY IFRS ADOPTION ON VALUE RELEVANCE AND PRO-CYCLICALITY OF DEPOSIT MONEY BANKS IN NIGERIA
EFFECT OF MANDATORY IFRS ADOPTION ON VALUE RELEVANCE AND PRO-CYCLICALITY OF DEPOSIT MONEY BANKS IN NIGERIA
Abstract:
Accounting manipulations in the banking industry has brought about the debate on the need for better accounting standards that are internationally comparable and can ensure transparency in financial reporting so as to reflect the true picture of the performances of banks and thus…
Effect of IFRS on Value Relevance of Accounting Information: Evidence from Quoted Manufacturing Firms in Nigeria
by Ezejiofor | Raymond Asika (PhD)" Effect of IFRS on Value Relevance of Accounting Information: Evidence from Quoted Manufacturing Firms in Nigeria"
Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-5 , August 2018,
URL: http://www.ijtsrd.com/papers/ijtsrd18346.pdf
Direct URL: http://www.ijtsrd.com/management/accounting-and-finance/18346/effect-of-ifrs-on-value-relevance-of-accounting-information-evidence-from-quoted-manufacturing-firms-in-nigeria/ezejiofor
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This study evaluated the extent to which value relevance of financial information in Nigerian manufacturing firms has improved after the implementation of International Financial Reporting Standards (IFRS). Specifically, the study intended to: Ascertain the extent the adoption of IFRS has significantly improved the book value per share of manufacturing companies in Nigeria; Determine the extent the adoption of IFRS has significantly improved the Earnings Per Share of manufacturing companies in Nigeria and Examine the extent the adoption of IFRS has significantly improved the cash flow of manufacturing companies in Nigeria. Ex-post facto research design was adopted for the study. A sample of 54 manufacturing companies was randomly selected from manufacturing companies quoted on the Nigerian Stock Exchange for the periods of 2008-2015. Data for the study were obtained from the annual reports and accounts of the sampled companies. Specifically, a modified price model for detecting value relevance of accounting data for two different periods was employed. Regression Analysis and Chow test statistical tools were used to analyze and validate the data with aid of SPSS version 20.0. The study found that the adoption of IFRS has improved the book value per share, market share price, Earnings Per Share and cash flow of manufacturing companies in Nigeria. The implication of findings is that the value relevance of accounting information of manufacturing companies is more sensitive during Post-IFRS era than the Pre-IFRS era. The findings also imply that the book value per share, market price, earnings and cash flow have become informative to equity investors in determining the value of firms following IFRS adoption. The study recommends among other things that the accounting information for book value per share should be communicated to the investing public; and such information should be of high quality to avoid negative consequences on the part of investors.
