Influence of International Financial Reporting Standards on Share Prices of Nigerian Quoted Oil and Gas Firms

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dc.contributor.authorSanni, Micheal Rotimi
dc.date.accessioned2023-08-15T19:17:34Z
dc.date.available2023-08-15T19:17:34Z
dc.date.issued2019
dc.description.abstractThis paper examined the influence of IFRS on share prices of Nigerian quoted Oil and Gas firms after the adoption of the standards in 2012. Paired sample t-test statistics was used to analyse the share prices of eight out of the twelve quoted Nigerian Oil and Gas firms for three years (2009-2011) pre-IFRS adoption period and three years (2012-2014) post IFRS adoption period. Findings showed that the share prices declined marginally by 1.78% during the six-year period and that the decline is not statistically significant (p=0.924) at 0.5 significant level. There is a positive (0.638) and significant (p=0.001) correlation between share prices in the two periods. These findings are consistent with existing studies which posit that the mere adoption of IFRS does not necessarily translate into improvement in the quality of financial reports and share price increase in the short run as other factors outside the adoption of the standards equally affect share prices. The study therefore recommends the use of appropriate discretions by management and provision of enabling environment by government for the full benefits of the adoption of the standards to be reaped.
dc.identifier.urihttps://repository.run.edu.ng/handle/123456789/3858
dc.language.isoen
dc.publisherUNIOSUN International Journal of Accounting and Finance
dc.titleInfluence of International Financial Reporting Standards on Share Prices of Nigerian Quoted Oil and Gas Firms
dc.typeArticle
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