IFRS Compliance and Its Effect on Market Valuation of Nigerian Firms
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Background of the Study
Market valuation reflects a company's perceived value in the stock market and is influenced by the quality of financial reporting. IFRS adoption aims to provide transparent and comparable financial statements, which can significantly affect investor confidence and market valuation. This study explores the relationship between IFRS compliance and market valuation of Nigerian firms, focusing on stock price movements, market capitalization, and investor behavior.
Statement of the Problem
Although IFRS adoption promises improved financial transparency, many Nigerian firms still face challenges in achieving full compliance. The effect of these compliance levels on market valuation remains ambiguous, particularly in emerging markets like Nigeria.
Aim and Objectives of the Study
The aim of this study is to investigate the effect of IFRS compliance on the market valuation of Nigerian firms.
Specific objectives include:
- To analyze the relationship between IFRS compliance and stock price movements in Nigerian firms.
- To assess the impact of IFRS compliance on market capitalization.
- To evaluate investor perceptions of IFRS-compliant financial reports.
- To identify challenges affecting the link between IFRS compliance and market valuation.
Research Questions
- How does IFRS compliance influence stock price movements in Nigerian firms?
- What is the impact of IFRS compliance on market capitalization?
- How do investors perceive IFRS-compliant financial reports?
- What challenges affect the relationship between IFRS compliance and market valuation?
Research Hypotheses
- IFRS compliance has a significant positive effect on the market valuation of Nigerian firms.
- Investors perceive IFRS-compliant financial reports as more credible and reliable.
Significance of the Study
This study contributes to understanding the role of IFRS compliance in shaping market valuation, offering practical recommendations for firms aiming to improve their market performance through better financial reporting.
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