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

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

HUMAN CAPITAL DEVELOPMENT AND ECONOMIC GROWTH IN NIGERIA

This study employs the ordinary least square regression analysis to examine the impact of human capital development on economic growth of Nigeria, using annual time series date from 1981 to 2015. The empirical results show that human capital development has significant impact on economic growth, as proxy by the gross domestic product. In line with theory, the human capital development indicators namely secondary school enrolment, tertiary school enrolment, total government expenditure on health and total government expenditure on education exhibit positive and statistically significant impact on economic growth of Nigeria which implies that these indicators are indispensable in the achievement of growth in the Nigerian economy. However, life expectancy and primary school enrolment exhibit a negative and statistically insignificant impact on economic growth of Nigeria. The study concluded that the Nigerian government should ensure to allocate adequate resources for the development of human capital in order to enhance economic growth in Nigeria. The study also recommended that going forward the government and policy makers should increase its total expenditure on education, ensure sufficient budgetary allocation on health expenditure, and ensure a standard is set across all secondary and tertiary institutions in the country so that proper human capital required for any individual to become productive and economic growth is enhance

Empirical analysis of board diversity and the financial performance deposit money banks in Nigeria ,

This study examined the effect of board diversity on the financial performance of deposit money banks in Nigeria. The study also examined the relationship between board independence and financial performance of deposit money banks in Nigeria. For the purpose of this study, the proxy for financial performance is profit margin while the proxies for board diversity and board independence are the ratio of female directors to total board size and ratio of non-executive directors to total board size, respectively. The data for the study were sourced from the annual reports of 10 listed deposit money banks in Nigeria from 2008 to 2017. The data were analyzed using pooled Ordinary Least Square regression. The results show that the coefficient of board diversity was positively signed and statistically significant at 5% (β=0.34, ρ=0.02); the coefficient of board independence was positively signed and statistically significant at 5% (β= 0.11, ρ=0.02). The study concludes that both gender diversity and board independence positively affect the financial performance of deposit money banks in Nigeria. Therefore, the study recommends that deposit money banks should encourage appointment of qualified female directors on the board. In addition, deposit money banks should ensure the independence of the board by appointing independent non-executive director who are well experienced in bank management

International Financial Reporting Standards Adoption and Earnings of Quoted Banks in Nigeria

The aim of this study is to examine the effect of adopted International Financial Reporting Standards (IFRS) adoption on the earning yield and earning per share of quoted banks in Nigeria. The study made use of cross sectional data obtained for a period of 6 years from 2009-2014, while the panel ordinary least method of analysis was used to examine the impact of IFRS adoption on the earnings of all 15 quoted banks in the Nigerian Stock Exchange. The study found a significant and positive relationship between IFRS adoption and the earning yield of quoted banks in Nigeria. The study also found a significant and positive relationship between IFRS adoption and earning per share of quoted banks in Nigeria. The study concludes that IFRS adoption has improved the decision making capability of the various stakeholders, thus, increasing investor confidence and the inflow of capital in the country through foreign direct investment. The study suggests that, in order to safeguard the suitable adoption of IFRS in Nigeria, competent Accountants and Auditors in IFRS are required in large number and that the Institute of Chartered Accountants of Nigeria (ICAN) must intensify it efforts in organising IFRS based training programmes for its members and other parties connected with corporate reporting. Keywords: Corporate Reporting, Adoption, Performance, Local GAAP, IFRS JEL Classifications: G23, M4