International Journal of Social Science & Economic Research
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Title:
INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS) ADOPTION AND MARKET VALUE OF FIRMS: EVIDENCE FROM NIGERIAN MANUFACTURING COMPANIES

Authors:
Adesanmi A. D , Sanyaolu O.A and Awata D. O.

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Adesanmi A. D1 , Sanyaolu O.A2 and Awata D. O.3
1,2,3. Department of Economics, Accounting and Finance, College of Management Sciences, Bells University of Technology, Ota, Nigeria

MLA 8
A.D, Adesanmi, et al. "INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS) ADOPTION AND MARKET VALUE OF FIRMS: EVIDENCE FROM NIGERIAN MANUFACTURING COMPANIES." Int. j. of Social Science and Economic Research, vol. 3, no. 8, Aug. 2018, pp. 3778-3788, ijsser.org/more2018.php?id=263. Accessed Aug. 2018.
APA
A.D, A., O.A, S., & D. O., A. (2018, August). INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS) ADOPTION AND MARKET VALUE OF FIRMS: EVIDENCE FROM NIGERIAN MANUFACTURING COMPANIES. Int. j. of Social Science and Economic Research, 3(8), 3778-3788. Retrieved from ijsser.org/more2018.php?id=263
Chicago
A.D, Adesanmi, Sanyaolu O.A, and Awata D. O. "INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS) ADOPTION AND MARKET VALUE OF FIRMS: EVIDENCE FROM NIGERIAN MANUFACTURING COMPANIES." Int. j. of Social Science and Economic Research 3, no. 8 (August 2018), 3778-3788. Accessed August, 2018. ijsser.org/more2018.php?id=263.

References
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Abstract:
The study examined the relationship between International Financial Reporting Standards (IFRS) adoption and Market value of Nigerian manufacturing companies. Data from listed manufacturing firms over twelve (12) years were analyzed. The objective of the study was achieved using panel ordinary least square regression. The result from the pooled least square regression indicated that there is a positive and significant relationship between IFRS adoption and market value Nigerian manufacturing firms. The result also shows that a significant positive relationship exist between dividend per share and market value of the Nigerian manufacturing firms. The study therefore concludes that adoption of IFRS by manufacturing for the preparation of financial statement will impact positively on the market value of the firms. This is because IFRS adoption will improve the quality of financial statement thereby boost the confidence of investors and also improve the patronage of investors which will in turn increase that market value of the companies . The study therefore recommends that companies in Nigeria should fully adopt the International Financial Reporting Standard for preparation of their financial statements.