IFRS Adoption and Value Relevance of Accounting Information A Study of Listed Insurance Firms in Nigeria



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IFRS Adoption and Value Relevance of Accounting Information A Study of Listed Insurance Firms in Nigeria



ABSTRACT

The International financial reporting standard (IFRS) was adopted for being a higher quality standard than SAS which was previously used. This study examines the impact of IFRS adoption on the value relevance of accounting information. Hence, the objective of the study was to empirically test using price regression model based on a re-modified Ohlson’s (1998) model Market share price (MSP); the dependent variable with accounting information was proxy by Book value per share (BVS), Earnings per share (EPS), Dividend per share (DPS), Cash flow from operations (CFO), IFRS served as independent variables in both pre and post IFRS adoption eras. Data was collected from a sample of 20 listed insurance firms for the period 2009–2014. Ordinary least square regression model was used in estimating the weight of the coefficient of models of the study. The overall result shows that the adoption of IFRS has decreased the value relevance of accounting information in the listed insurance firms, however, the individual independent variables EPS, DPS & BVS showed an increase after the adoption of IFRS and positive relationship with market per share. This study recommends that investors should rely more on DPS as a measure of accounting information as it has the greatest contributory value than other variables used in the study.

REFERENCES

Abiodun,B.Y.(2012).Significance of accounting information on corporate value of firms in

Nigeria. Research Journal in Organization Psychology and Education Studies, 1(2), 105-113.

Abubakar, S (2011) Value Relevance of Accounting Information of Listed New Economy

Firms in Nigeria: An Empirical Investigation using Ohlson Model.

Ali. A & Hwang, L. (2000), Country specifics factors related to financial reporting and the

 

value relevance of accounting data. Journal of accounting research 38(1) 1-21

Arum P.E.D,(2013); implementation of IFRS and quality of financial information in Indonesia. The research journal of finance and accounting.

Adaramola A.O & Oyerinde A.A (2014),The Relationship between Financial Accounting Information and Market Values of Quoted Firms in Nigeria. Global Journal of Contemporary Research in Accounting, Auditing and Business Ethics (GJCRA)an Online International Research Journal1 (1)

Adaramola A.O & Atanda O.A (2014)Value Relevance of Financial Accounting Information of QuotedCompanies in Nigeria: A Trend Analysis. Research Journal of Finance and Accounting(5)8

 

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All Project Materials Inc. (2020). IFRS Adoption and Value Relevance of Accounting Information A Study of Listed Insurance Firms in Nigeria. Available at: https://researchcub.info/department/paper-8862.html. [Accessed: ].

IFRS Adoption and Value Relevance of Accounting Information A Study of Listed Insurance Firms in Nigeria


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The International financial reporting standard (IFRS) was adopted for being a higher quality standard than SAS which was previously used. This study examines the impact of IFRS adoption on the value relevance of accounting information. Hence, the objective of the study was to empirically test using price regression model based on a re-modified Ohlson’s (1998) model Market share price (MSP); the dependent variable with accounting information was proxy by Book value per share (BVS), Earnings per share (EPS), Dividend per share (DPS), Cash flow from operations (CFO), IFRS served as independent variables in both pre and post IFRS adoption eras. Data was collected from a sample of 20 listed insurance firms for the period 2009–2014. Ordinary least square regression model was used in estimating the weight of the coefficient of models of the study. The overall result shows that the adoption of IFRS has decreased the value relevance of accounting information in the listed insurance firms, however, the individual independent variables EPS, DPS & BVS showed an increase after the adoption of IFRS and positive relationship with market per share. This study recommends that investors should rely more on DPS as a measure of accounting information as it has the greatest contributory value than other variables used in the study... Click here for more

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