The Role of IFRS in Enhancing Shareholder Activism in Nigeria
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Background of the Study
The adoption of International Financial Reporting Standards (IFRS) in Nigeria has fundamentally transformed financial reporting by providing greater transparency, comparability, and accountability. As a result, financial statements have become more reliable for stakeholders, including shareholders, investors, and analysts. This enhanced transparency can empower shareholders to take a more active role in corporate governance, leading to increased shareholder activism.
Shareholder activism refers to efforts by shareholders to influence corporate policies and decisions to protect or enhance their investment value. In Nigeria, where corporate governance has traditionally been weak, IFRS has created an environment that fosters shareholder engagement. By providing clear, standardized financial information, IFRS allows shareholders to more effectively assess company performance, executive compensation, environmental practices, and overall governance.
This study explores the role of IFRS in enhancing shareholder activism in Nigeria, focusing on how IFRS adoption influences shareholders' ability to hold companies accountable for their performance and corporate policies.
Statement of the Problem
In Nigeria, despite the adoption of IFRS, shareholder activism remains relatively low. Factors such as insufficient transparency in corporate governance, limited shareholder rights, and poor regulatory enforcement have impeded the full potential of shareholder activism. This study examines how IFRS adoption can help enhance shareholder activism by improving the transparency of financial reporting and providing shareholders with better tools to advocate for change.
Aim and Objectives of the Study
The aim of this study is to examine the role of IFRS in enhancing shareholder activism in Nigeria. Specifically, the objectives are:
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To evaluate how IFRS adoption has improved the transparency of financial information for Nigerian shareholders.
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To investigate the relationship between IFRS adoption and shareholder activism in Nigeria.
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To assess the impact of IFRS on shareholder decision-making and corporate governance in Nigerian firms.
Research Questions
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How has IFRS adoption improved the transparency of financial information for Nigerian shareholders?
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What is the relationship between IFRS adoption and shareholder activism in Nigeria?
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How has IFRS impacted shareholder decision-making and corporate governance in Nigeria?
Research Hypotheses
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IFRS adoption significantly enhances the transparency of financial information for Nigerian shareholders.
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There is a positive relationship between IFRS adoption and shareholder activism in Nigeria.
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IFRS adoption positively influences shareholder decision-making and corporate governance in Nigerian firms.
Significance of the Study
This study will contribute to understanding how IFRS adoption enhances shareholder activism in Nigeria, offering insights into the role of transparent financial reporting in corporate governance. The findings will inform policymakers, regulators, and corporate leaders on improving shareholder engagement through better financial reporting practices.
Scope and Limitation of the Study
This study focuses on the role of IFRS in enhancing shareholder activism in Nigerian firms from 2012 to 2025. Limitations include challenges in measuring the exact impact of shareholder activism and limited data on activism levels in Nigeria.
Definition of Terms
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Shareholder Activism: Efforts by shareholders to influence corporate policies, decisions, and practices to enhance or protect their investment.
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IFRS Adoption: The process of implementing International Financial Reporting Standards in financial reporting.
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Corporate Governance: The system of rules, practices, and processes by which companies are directed and controlled.
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Chapter One: Introduction
1.1 Background of the Study
