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International Financial Reporting Standards and Foreign Direct Investment in Nigeria

Adetula, D. T. and Nwobu, Obiamaka and Owolabi, F. (2014) International Financial Reporting Standards and Foreign Direct Investment in Nigeria. International Journal of Commerce, Business and Management (IJCBM), 3 (3). pp. 446-449. ISSN 2319- 2828

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Abstract

lmernational Financial Reporting Standards (I FRS) have been accepted in countries main~l ' because it is wide~v believed tlwt those standards enhance transparency in the preparation of financial statements. Consequent~v, increased transparency should lead to enhanced Foreign Direct Investments (FDI). The purpose of this paper was to ascertain the impact of /FRS on FDI as it affects the Nigerian econon~v. Using data from secondary and primary sources, the results from the regression ana~vsis showed that there is a positive but not significant relationship between FDI inflow and I FRS adoption. It was found that the longer a country uses I FRS, the higher the FDI. Furthermore, the perception of the business managers and preparers of financial statements towards FDI could signal their willingness to adopt I FRS. The stuc~v recommends that the financial reporting council of Nigeria (FRCN) should monitor compliance with the requirements of the reporting standards as tllis might help organizations in the long run to secure FD!s.

Item Type: Article
Uncontrolled Keywords: International financial Reporting Standards, foreign direct investments, Nigerian economy
Subjects: H Social Sciences > HF Commerce > HF5601 Accounting
Divisions: Faculty of Law, Arts and Social Sciences > School of Management
Depositing User: Mr Solomon Bayoko
Date Deposited: 23 Oct 2014 10:05
Last Modified: 29 Feb 2016 15:29
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/2867

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