IMPACT OF GLOBAL ADOPTION OF IFRS ON NIGERIAN STOCK MARKET EFFECTIVENESS
Journal Title: Manager Journal - Year 2012, Vol 15, Issue
Abstract
International Financial Reporting Standard (IFRS) is a statement of intent to globalize financial standards so as to enable investors move capital and as such enshrine global competitiveness. Nigeria’s case to attract investment through the capital market can be advanced effectively if financial reporting is standardized and adopted. As an impact study, we employed adaptive expectation variant of the autoregressive model and multiple regression technique to study the prospect of Compliance with IFRS and how the Nigerian quoted companies faired in compliance with Nigerian Accounting Standards and its correlation with reporting incentives, idiosyncratic volatilities and stock price informativeness; which more or less indicates their preparedness for global adoption of IFRS in 2012.It is recommended that stiff penalties are required to prepare Nigerian financial environment for the global adoption of IFRS.A clear road map of adoption of IFRS will further drive the much needed foreign investment in-flow and help to brand Nigeria out of the corruption quagmire.
Authors and Affiliations
Dick Oluku Mukoro
Keywords
Related Articles
- EP ID EP446275
- DOI -
- Views 200
- Downloads 0
The role of communication in the transformation process of public institutions in Romania
As a result of changes that take place in the Romanian economical-political-social environment before and after the integration in the European Union, the public administration must be able to rise up to the challenges t...
Future Developments of QMS
ISO technical committee ISO/TC 176 is responsible for the ISO 9000 family of standards for quality management and quality assurance. National delegations of 81 countries participate in its work, while another 21 (Februar...
The role of information systems in management decision making-an theoretical approach
In modern conditions of globalisation and development of information technology, information processing activities have come to be seen as essential to successful of businesses and organizations. Information has become e...
A typology of organizational cultures in terms of improvement of the quality management
There is in the paper, the analysis of research conducted by author’s carried out under the Higher Education Grant. There is an original typology of organizational cultures in terms of improvement of quality management....
Schools of Thought: The Case of Entrepreneurship
The level of interest in entrepreneurship among policy makers, researchers, academics and businessmen has significantly raised in the last decades. During its evolution, the concept of entrepreneurship has been embedded...