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Adoption of International Financial Reporting Standards and Market Performance of Listed Banks in Nigeria

Ojeka, Stephen and Iyoha, F.O. and Sanyaolu, O.A and Owolabi, F. (2017) Adoption of International Financial Reporting Standards and Market Performance of Listed Banks in Nigeria. In: International Conference on Creative Education, March 3-4, 2017, Kuala Lumpur, Malaysia.

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Abstract

Abstract. The objective of this study is to examine the effect of the adoption of IFRS on the market performance of banks in Nigeria. Secondary data were acquired from the financial statement of 15 money deposit banks listed on floor of the Nigerian Stock Exchange (NSE) while regression and paired sample test analyses were used to determine the association between the adoption of IFRS and the market performance of listed money deposit Banks in Nigeria. The study found a positive and significant relationship between the adoption of IFRS and the market performance of listed money deposit banks in Nigeria proxy by Dividend pay-out (DPO) and Dividend Yield (DY). Furthermore, the paired sample test result indicates a significant difference exists between Dividend pay-out (DPO) and the adoption of IFRS while no significant difference exists between Dividend Yield (DY) and the adoption of IFRS. Thus, the study recommends that the global adoption of International Financial Reporting Standards particularly in developing economies like Nigeria should be properly implemented and studied, so as to keep abreast with the various changes the would likely affect the market performance of the Nigerian Banking industry.

Item Type: Conference or Workshop Item (Paper)
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Hannah Akinwumi
Date Deposited: 27 Jun 2017 10:35
Last Modified: 18 Jul 2017 12:08
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/8468

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