SOURCE:

Faculty: Management Sciences
Department: Accountancy

CONTRIBUTORS:

Nwufo, C. I.
Osisioma, B. C.
Okoye, E. I.

ABSTRACT:

This study ascertained the effect of international financial reporting standards (IFRS) adoption on performance with a focus on deposit money banks listed on the floor of Nigeria Stock Exchange (NSE) as at 31st December 2016, for a period of ten years, ranging from 2008-2017. Panel Data was employed in this study. The study made use of Ex-post facto research design in conducting the research. The study made use of secondary data obtained from fact books and annual reports and accounts of the fifteen (15) sampled deposit money banks listed on Nigeria Stock Exchange (NSE) as at 31st December 2016. Pearson Correlation Co-efficient, Ordinary Least Square (OLS) regression analysis and Chow test were used to test the hypotheses with the aid of E-Views 9.0 statistical software. The results of this study revealed that IFRS adoption has significant positive relationship on return on equity, earnings per share, net profit margin and gross earnings at 5% level of significance respectively. The study recommended inter alia that regulatory authorities should continuously monitor IFRS compliance by banks in Nigeria.