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The Impact of International Financial Reporting Standard on Stock Valuation in Public Companies in Nigeria

The Impact of International Financial Reporting Standard on Stock Valuation in Public Companies in Nigeria

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DEDICATION

This research material, titled “The Impact of International Financial Reporting Standard on Stock Valuation in Public Companies in Nigeria” is dedicated to God for His boundless grace and guidance. It is also a tribute to all computer enthusiasts whose contributions made my research journey smoother and enriched my documentation process, making the experience truly fulfilling.



ACKNOWLEDGEMENT

I am profoundly grateful to everyone who contributed to the successful completion of this project. I am especially grateful to my Supervisor (Name), the Head of Department (Name), and the Lecturers in the Department of Public Administration (PA) for their invaluable guidance and support. I also acknowledge the contributions of authors and scholars whose works on The Impact of International Financial Reporting Standard on Stock Valuation in Public Companies in Nigeria provided essential insights. Special thanks go to my study area (and any funding organizations, if applicable) for their financial assistance. I am equally thankful to stakeholders, including mentors, teachers, and colleagues, for their encouragement and support. Finally, I deeply appreciate my family and friends for their patience and unwavering support throughout this journey. Your contributions have been instrumental in making this research a reality.



TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • ⋮
    • 2.4 Empirical Studies
    • 2.5 Research Gaps
    • 2.6 Summary of Literature Review

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”


    ABSTRACT

    The purpose of this research work is to investigate the impact of international financial reporting standard on stock valuation on public company in Nigeria using stock or inventory, total asset, profit after taxes and share capital from 2000-2014. To investigate the level of difference in stock valuation during the pre IFRS and post IFRS period. To measure the extent to which valuation of asset differs in the pre-IFRS and post IFRS etc. The researcher made use of ex-post factor research design with data obtain from annual report of an account of five company quoted on the flow on the stock Exchange. Frequency distribution table and descriptive statistics was used for data presentation and analysis while paired sample T-test was used to test the hypothesis. It was discovered that the adoption of IFRS significantly affect stock valuation of public companies. On these note, it was recommended that the government should amend the Company’s Act in Nigeria for improving compliance, culture, provide guidelines on paper. Implementation of IFAC code of ethics for professional accountant and practitioners.


    The Impact of International Financial Reporting Standard on Stock Valuation in Public Companies in Nigeria

    CHAPTER ONE

    Introduction

    1.1 Background Of The Study

    Available in the complete material you will be getting

    1.2 Statement Of Problem

    Masud, (2013) disclosed that in the accounting and finance sector, companies cook figure and manipulate financial statement, tax avoidance is the norm of the day while persistent earning management is left unchecked by the authorities because of weak and ineffective regulation.

    Most of Nigeria statement of accounting standard (SASS) or NG-GAAP issued by the NASB are out data and considered insufficient to provide the necessary guidance in the preparation of qualitative financial statement.
    The following challenges exist premeditated this research;

    Apparent lack of global unifying reporting standard stock valuation assessment of companies in and outside the country. Thus giving rise to disparity in accounting reportage.

    Presence of fraudulent preaches by corporate entities as regards under valuation of profit for tax purpose with particular emphasis on the use of LIFO method.

    Increases investment protectial of corporate entity in the country and this heavely tied to adoption of local accounting standard (GAAP) generally investor are often time regarded financial statement prepared with local GAAP as inferior and lacking integrities.

    The researcher noted that adoption of IFRS particular for stock valuation help to address the above challenge. To help confirm these assession, this research is carry out to determined if the adoption IFRS will approve valuation of public companies in Nigeria.

    1.3 Objective Of The Study

    The purpose of carrying out the research work is to investigate the impact of international financial reporting standard on stock valuation in public company in Nigeria. The following strategies objective come to play.

    1. To investigate the level of difference in stock valuation during the pre-IFRS and post IFRS period.
    2. To measure the extent to which valuation of asset differs in the pre-IFRS and post IFRS.
    3. To ascertain the different in capital valuation in pre-IFRS and post − IFRS.
    4. To establish weather measurement of profitability differ in pre-IFRS and post IFRS.

    1.4 Research Question

    1. Is there significant difference in stock valuation in pre-IFRS and post − IFRS.
    2. To what extent does valuation of asset differ in pre IFRS and post IFRS.
    3. Would capital valuation difference in pre-IFRS and posts IFRS.
    4. Does measurement of profitability differ in pre-IFRS and post IFRS.

    1.5 Statement Of Hypotheses

    1. Ho: There is no significant difference in stock valuation in pre-IFRS and post IFRS.
      Hi: There is significant different in stock valuation in pre-IFRS and post IFR.
    2. Ho: There is no significant difference in asset valuation in pre-IFRS and post IFRS.
      Hi: There is significant difference in asset valuation in pre-IFRS and post − IFRS.
    3. Ho: There is no significant difference in asset valuation in pre-IFRS and post − IFRS.
      Hi: There is significant difference in capital valuation in pre-IFRS and post IFRS.
    4. Ho: There is no significant difference in measurement of profitability in pre-IFRS and post IFRS.
      Ho: There is significant difference in measurement of profitability in pre-IFRS and post IFRS.

    1.6 Scope Of The Study

    The thrust of the research work is on the impact of international financial reporting standard on stock valuation in public company in Nigeria. The need to carryout the study is motivated by difference in stock valuation method, lack of global reporting standard on valuation of corporate performance as well as under valuation of profit.
    In view of this, the main objective of the research is to investigate the need of difference in stock valuation during the pre-IFRS and post IFRS period.

    Export factor research design was adopted for use, involving the connecting of secondary data especially annual report and account of A.B.C transport company Plc, OandoPlc, Julius Berger, Nestle Nigeria Plc and Dangote Cement Plc.

    The time courage from the research is year 2007-2014, while the research in Asaba metropolis. Frequency distributed table and descriptive statistic are used for data presentation and analysis, while E-view and sample t-test are used to test research hypothesis. Finding obtain with a large extend disclose variation in stock valuation in pre IFRS and post IFRS.

    …

    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the conceputal review, theoretical framework, the review of related literature …

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