A Quantitative Study on IFRS Compliance and Cross-Border Mergers in Nigeria
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Background of the Study
Cross-border mergers and acquisitions (M&As) have become a common feature of the globalized business environment. These activities enable companies to expand into new markets, acquire new technologies, and enhance their competitive advantage. In Nigeria, the adoption of IFRS has been credited with improving the transparency and comparability of financial information, which is essential in cross-border M&As. The ability of foreign firms to assess the financial health of potential Nigerian merger partners has been enhanced through IFRS-compliant financial statements. This study aims to quantitatively analyze the relationship between IFRS compliance and the occurrence of cross-border mergers in Nigeria, exploring how the adoption of IFRS influences the attractiveness of Nigerian firms to foreign companies seeking to expand their portfolios through mergers.
Statement of the Problem
While IFRS compliance is widely seen as an enabler of better financial reporting, its impact on cross-border mergers in Nigeria remains underexplored. It is unclear whether Nigerian companies' compliance with IFRS directly correlates with an increase in cross-border M&As. Some experts suggest that IFRS adoption makes Nigerian companies more attractive to foreign firms, while others argue that factors like political instability and market structure play a larger role in cross-border mergers. This study seeks to assess the role of IFRS compliance in facilitating cross-border mergers and acquisitions in Nigeria.
Aim and Objectives of the Study
Aim:
To quantitatively assess the impact of IFRS compliance on cross-border mergers and acquisitions in Nigeria.
Objectives:
To examine the relationship between IFRS compliance and the frequency of cross-border mergers involving Nigerian companies.
To analyze whether IFRS compliance increases the attractiveness of Nigerian firms to foreign acquirers.
To evaluate the financial and operational outcomes of cross-border mergers involving Nigerian firms under IFRS compliance.
Research Questions
What is the relationship between IFRS compliance and the occurrence of cross-border mergers in Nigeria?
Does IFRS compliance make Nigerian companies more attractive to foreign firms seeking mergers and acquisitions?
What are the financial and operational outcomes of cross-border mergers involving IFRS-compliant Nigerian firms?
Research Hypotheses
IFRS compliance positively influences the occurrence of cross-border mergers in Nigeria.
Nigerian firms that comply with IFRS are more attractive to foreign acquirers in cross-border mergers.
Cross-border mergers involving IFRS-compliant Nigerian firms lead to improved financial and operational outcomes.
Significance of the Study
This study is significant for policymakers, business owners, and investors as it will provide insights into the role of IFRS compliance in facilitating cross-border mergers in Nigeria. The findings will guide Nigerian firms seeking to attract foreign investments and engage in cross-border M&As.
Scope and Limitation of the Study
The study will focus on Nigerian firms involved in cross-border mergers since the adoption of IFRS. Limitations include the availability of data and the difficulty in isolating IFRS compliance as the sole factor influencing cross-border mergers.
Definition of Terms
Cross-Border Mergers: The process where a company from one country merges with or acquires a company in another country.
IFRS Compliance: The extent to which Nigerian firms adhere to the International Financial Reporting Standards in their financial reporting.
Foreign Acquirers: Companies based outside Nigeria that acquire or merge with Nigerian firms.
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