المجلة الدولية للاداء الاقتصادي
Volume 6, Numéro 3, Pages 47-59
2023-12-31
International Financial Reporting Standard And Performance Of Quoted Manufacturing Firms In Nigeria
Authors : Aduwo Olola .
Abstract
The study examines the effect of International Financial Reporting Standard (IFRS) on performance of quoted manufacturing firms in Nigeria. Secondary source of data was employed through which data were collected from annual report of the selected firms. The study made use of panel data regression. The study covers the period of twelve years from 2011 to 2022 and purposive sampling technique was used to select thirteen consumer goods firms that are constantly trading on the Nigerian Group of Exchange. The study found that IFRS adoption has negative and insignificant effect on financial performance of manufacturing companies in Nigeria. The explanation for this could be as a result of significant adoption cost which will invariably affect the financial performance of the manufacturing companies. The study concluded that the cost of introducing IFRS should be reduced in order to enhance performance of quoted manufacturing firm. In view of this, the study recommends that the management of consumer goods manufacturing firm should consider the cost of implementation and fluctuation in reported values due to change in valuation.
Keywords
IFRS, Return on asset, Panel regression, Consumer goods manufacturing firm.
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