IFRS Adoption and Its Impact on Stock Price Volatility in Nigeria
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Background of the Study
Stock price volatility reflects the degree of variation in stock prices over a period, influencing investment decisions and market stability. IFRS adoption introduces standardized financial reporting, which can affect investor behavior and market dynamics. In Nigeria, understanding the impact of IFRS on stock price volatility is critical for assessing its influence on market efficiency and stability.
Statement of the Problem
While IFRS adoption is expected to enhance transparency and reduce information asymmetry, its effect on stock price volatility is uncertain. Factors such as market reactions to financial disclosures, the quality of implementation, and external economic conditions may mediate this relationship. This study examines how IFRS adoption influences stock price volatility in Nigeria.
Aim and Objectives of the Study
Aim:
To analyze the impact of IFRS adoption on stock price volatility in Nigeria.
Objectives:
To evaluate changes in stock price volatility before and after IFRS adoption.
To assess how IFRS adoption influences investor confidence in the Nigerian stock market.
To identify external factors affecting stock price volatility post-IFRS adoption.
Research Questions
How has stock price volatility changed following IFRS adoption in Nigeria?
What is the impact of IFRS adoption on investor confidence in Nigeria?
What external factors contribute to stock price volatility post-IFRS adoption?
Research Hypotheses
IFRS adoption reduces stock price volatility in Nigeria.
IFRS adoption enhances investor confidence in the Nigerian stock market.
External factors mediate the relationship between IFRS and stock price volatility.
Significance of the Study
This study provides insights into the relationship between IFRS adoption and stock price volatility, aiding policymakers and investors in understanding market dynamics.
Scope and Limitation of the Study
The study focuses on listed companies on the Nigerian Stock Exchange. Limitations include the influence of global market conditions and data availability.
Definition of Terms
Stock Price Volatility: The degree of variation in stock prices over time.
IFRS: International standards for financial reporting aimed at enhancing comparability.
Market Efficiency: The extent to which stock prices reflect all available information.
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