Staff View: Adoption of international financial reporting standards (IFRS) and financial performance of deposit money banks in Nigeria / Adeduro Adesola Ogunmakin, Bamikole Samson Fajuyagbe and Micah Juwon Akinleye

Adoption of international financial reporting standards (IFRS) and financial performance of deposit money banks in Nigeria / Adeduro Adesola Ogunmakin, Bamikole Samson Fajuyagbe and Micah Juwon Akinleye

The study explored adoption of the International Financial Reporting Standards (IFRS) on financial performance of banks in Nigeria over a time period of ten years spreading over from 2006 to 2016. Data set utilized were randomly gathered across 10 (ten) banks, and analyzed with the use of pooled OLS...

Full description

Saved in:

Bibliographic Details
Main Authors:	Ogunmakin, Adeduro Adesola, Fajuyagbe, Bamikole Samson, Akinleye, Micah Juwon
Format:	Article
Language:	English
Published:	Universiti Teknologi MARA 2021
Subjects:	Liquidity International finance Financial management. Business finance. Corporation finance Investment, capital formation, speculation
Online Access:	https://ir.uitm.edu.my/id/eprint/47760/1/47760.pdf https://ir.uitm.edu.my/id/eprint/47760/ https://mar.uitm.edu.my/
Tags:	Add Tag No Tags, Be the first to tag this record!

id	my.uitm.ir.47760
record_format	eprints
spelling	my.uitm.ir.477602022-06-15T04:06:14Z https://ir.uitm.edu.my/id/eprint/47760/ Adoption of international financial reporting standards (IFRS) and financial performance of deposit money banks in Nigeria / Adeduro Adesola Ogunmakin, Bamikole Samson Fajuyagbe and Micah Juwon Akinleye Ogunmakin, Adeduro Adesola Fajuyagbe, Bamikole Samson Akinleye, Micah Juwon Liquidity International finance Financial management. Business finance. Corporation finance Investment, capital formation, speculation The study explored adoption of the International Financial Reporting Standards (IFRS) on financial performance of banks in Nigeria over a time period of ten years spreading over from 2006 to 2016. Data set utilized were randomly gathered across 10 (ten) banks, and analyzed with the use of pooled OLS, fixed effect and random effect estimations alongside the F-test and Hausman test. Result showed that embracing IFRS had insignificant positive effect on ROA of banks in Nigeria (β=0.0038609 p=0.366). It was likewise shown that loan to deposit ratio had a significant negative influence on return on asset (β=-0.0017625 p=0.046). The study established that IFRS implementation had not significantly spurred financial performance of banks in Nigeria, however it has the possibility of doing as such if banks can completely receive and fuse all parts of the Standard in their monetary detailing structure. Subsequently, it is suggested that Regulatory Authorities of deposit money banks should set up an administrative board that will be burdened with the obligation of following the pace of adoption of the IFRS in the country. Universiti Teknologi MARA 2021-04 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/47760/1/47760.pdf Adoption of international financial reporting standards (IFRS) and financial performance of deposit money banks in Nigeria / Adeduro Adesola Ogunmakin, Bamikole Samson Fajuyagbe and Micah Juwon Akinleye. (2021) Management & Accounting Review (MAR), 20 (1): 8. pp. 155-176. ISSN 2550-1895 https://mar.uitm.edu.my/
institution	Universiti Teknologi Mara
building	Tun Abdul Razak Library
collection	Institutional Repository
continent	Asia
country	Malaysia
content_provider	Universiti Teknologi Mara
content_source	UiTM Institutional Repository
url_provider	http://ir.uitm.edu.my/
language	English
topic	Liquidity International finance Financial management. Business finance. Corporation finance Investment, capital formation, speculation
spellingShingle	Liquidity International finance Financial management. Business finance. Corporation finance Investment, capital formation, speculation Ogunmakin, Adeduro Adesola Fajuyagbe, Bamikole Samson Akinleye, Micah Juwon Adoption of international financial reporting standards (IFRS) and financial performance of deposit money banks in Nigeria / Adeduro Adesola Ogunmakin, Bamikole Samson Fajuyagbe and Micah Juwon Akinleye
description	The study explored adoption of the International Financial Reporting Standards (IFRS) on financial performance of banks in Nigeria over a time period of ten years spreading over from 2006 to 2016. Data set utilized were randomly gathered across 10 (ten) banks, and analyzed with the use of pooled OLS, fixed effect and random effect estimations alongside the F-test and Hausman test. Result showed that embracing IFRS had insignificant positive effect on ROA of banks in Nigeria (β=0.0038609 p=0.366). It was likewise shown that loan to deposit ratio had a significant negative influence on return on asset (β=-0.0017625 p=0.046). The study established that IFRS implementation had not significantly spurred financial performance of banks in Nigeria, however it has the possibility of doing as such if banks can completely receive and fuse all parts of the Standard in their monetary detailing structure. Subsequently, it is suggested that Regulatory Authorities of deposit money banks should set up an administrative board that will be burdened with the obligation of following the pace of adoption of the IFRS in the country.
format	Article
author	Ogunmakin, Adeduro Adesola Fajuyagbe, Bamikole Samson Akinleye, Micah Juwon
author_facet	Ogunmakin, Adeduro Adesola Fajuyagbe, Bamikole Samson Akinleye, Micah Juwon
author_sort	Ogunmakin, Adeduro Adesola
title	Adoption of international financial reporting standards (IFRS) and financial performance of deposit money banks in Nigeria / Adeduro Adesola Ogunmakin, Bamikole Samson Fajuyagbe and Micah Juwon Akinleye
title_short	Adoption of international financial reporting standards (IFRS) and financial performance of deposit money banks in Nigeria / Adeduro Adesola Ogunmakin, Bamikole Samson Fajuyagbe and Micah Juwon Akinleye
title_full	Adoption of international financial reporting standards (IFRS) and financial performance of deposit money banks in Nigeria / Adeduro Adesola Ogunmakin, Bamikole Samson Fajuyagbe and Micah Juwon Akinleye
title_fullStr	Adoption of international financial reporting standards (IFRS) and financial performance of deposit money banks in Nigeria / Adeduro Adesola Ogunmakin, Bamikole Samson Fajuyagbe and Micah Juwon Akinleye
title_full_unstemmed	Adoption of international financial reporting standards (IFRS) and financial performance of deposit money banks in Nigeria / Adeduro Adesola Ogunmakin, Bamikole Samson Fajuyagbe and Micah Juwon Akinleye
title_sort	adoption of international financial reporting standards (ifrs) and financial performance of deposit money banks in nigeria / adeduro adesola ogunmakin, bamikole samson fajuyagbe and micah juwon akinleye
publisher	Universiti Teknologi MARA
publishDate	2021
url	https://ir.uitm.edu.my/id/eprint/47760/1/47760.pdf https://ir.uitm.edu.my/id/eprint/47760/ https://mar.uitm.edu.my/
_version_	1736837235917979648
score	13.211869

Adoption of international financial reporting standards (IFRS) and financial performance of deposit money banks in Nigeria / Adeduro Adesola Ogunmakin, Bamikole Samson Fajuyagbe and Micah Juwon Akinleye

Similar Items