Effect Of International Financial Reporting Standard Adoption On Profitability Of Commercial Banks In Nigeria
ABSTRACT
This study focuses on the effect of IFRS adoption on the profitability of deposit money banks from the Nigerian perspective as a result, the study findings in line with its objectives will help investors and managers not just from Nigeria but the world at large make financial decision as they will rely on the quality of the information reported in the financial statement of companies in Nigeria in line with IFRS adoption. To achieve this, a model was specified for the study. Series of data were obtained from Historical Data of book value, earnings per share were collected from published annual report and accounts of the firms available on their website and Nigerian Stock Exchange FACT book which were applied to estimate the model using Ordinary Least Squares (OLS) multiple regression technique. The estimated model indicated that there is no signflcant effect on the return on assets of the listed DMBs in Nigeria. It was recommended that firms in Nigeria should strictly adhere to IFRS as a standard of reporting as this will make their financial report have more value relevant and will also burst the confidence of their investors both already existing investors and prospective investors in the financial statement presented to them, which in turn will attract more investors both foreign and local to invest more in firms listed on the Nigerian stock exchange.
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CHIMA, C (2021). Effect Of International Financial Reporting Standard Adoption On Profitability Of Commercial Banks In Nigeria. Mouau.afribary.org: Retrieved Nov 25, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-international-financial-reporting-standard-adoption-on-profitability-of-commercial-banks-in-nigeria-7-2
CHINWE, CHIMA. "Effect Of International Financial Reporting Standard Adoption On Profitability Of Commercial Banks In Nigeria" Mouau.afribary.org. Mouau.afribary.org, 23 Jun. 2021, https://repository.mouau.edu.ng/work/view/effect-of-international-financial-reporting-standard-adoption-on-profitability-of-commercial-banks-in-nigeria-7-2. Accessed 25 Nov. 2024.
CHINWE, CHIMA. "Effect Of International Financial Reporting Standard Adoption On Profitability Of Commercial Banks In Nigeria". Mouau.afribary.org, Mouau.afribary.org, 23 Jun. 2021. Web. 25 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-international-financial-reporting-standard-adoption-on-profitability-of-commercial-banks-in-nigeria-7-2 >.
CHINWE, CHIMA. "Effect Of International Financial Reporting Standard Adoption On Profitability Of Commercial Banks In Nigeria" Mouau.afribary.org (2021). Accessed 25 Nov. 2024. https://repository.mouau.edu.ng/work/view/effect-of-international-financial-reporting-standard-adoption-on-profitability-of-commercial-banks-in-nigeria-7-2