Business Studies
Volume: 96 , Issue: 1 , March Published Date: 02 March 2022
Publisher Name: IJRP
Views: 455 , Download: 666 , Pages: 26 - 40
DOI: 10.47119/IJRP100961320222919
Publisher Name: IJRP
Views: 455 , Download: 666 , Pages: 26 - 40
DOI: 10.47119/IJRP100961320222919
Authors
# | Author Name |
---|---|
1 | Joseph E. Ekpenyong |
2 | Oludaisi T. Damilola |
Abstract
This study examines the impact of adopting IFRS on the financial statements of Nigerian depositary banks. The data used was taken from the annual report of selected banks listed on the Nigeria Stock Exchange in Nigeria from a period of 2013 to 2017. To achieve this, the panel's Ordinary least squares regression procedure was used. The results show that R-squared is 78%. This means that the overall QFS variation is 78%, which can be explained by the explanatory variables following the independent variable, which is sufficient to explain the dependent variable (quality of accounting information). The F-Statistic is 2.07870 and the probability value is 0.026393 with p <0.05. This is statistically significant and means that the goodness of fit of the model is high and significant. Therefore, the model is well specified and can be estimated. A Durbin-Watson statistic of 2 was obtained. This means that the results are free of continuous autocorrelation issues. In particular, the IFRS correlation coefficient is 0.74458 and the probability value is 0.0105 with p <0.05. This is positive and statistically significant. This shows that there is a direct and significant correlation between the adoption of IFRS and the quality of financial statements. The results revealed a positive and significant association between ROA, growth, size, age and quality of accounting information.