Value relevance of financial statements and share price: a study of listed banks in Nigeria
This paper examined the effects of value relevance of financial statements on firms share price in Nigeria. In achieving the objectives of this research, the fact book from the Nigerian Stock Exchange Market and the audited financial statement of listed banks spanning the period 2010-2014 were used....
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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LLC "CPC "Business Perspectives"
2016-12-01
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| Series: | Banks and Bank Systems |
| Online Access: | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/8069/BBS_en_2016_04cont_Uwuigbe.pdf |
| _version_ | 1811196887924998144 |
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| author | Olubukola Ranti Uwuigbe Uwalomwa Uwuigbe Jimoh Jafaru Ebeguki Edith Igbinoba Olufemi Adebayo Oladipo |
| author_facet | Olubukola Ranti Uwuigbe Uwalomwa Uwuigbe Jimoh Jafaru Ebeguki Edith Igbinoba Olufemi Adebayo Oladipo |
| author_sort | Olubukola Ranti Uwuigbe |
| collection | DOAJ |
| description | This paper examined the effects of value relevance of financial statements on firms share price in Nigeria. In achieving the objectives of this research, the fact book from the Nigerian Stock Exchange Market and the audited financial statement of listed banks spanning the period 2010-2014 were used. Also, a total of 15 listed banks in the Nigerian stock exchange market were selected and analyzed for the study using the purposive sampling method. However, in analyzing the research hypotheses, the study adopted the use of both descriptive statistics and the use of Fixed Effects Panel data method of data analysis technique. Findings from the study showed that a significant positive relationship existed between earnings per share (EPS) and Last day share price (LDSP). The study recommends the need for banks in the country to improve on the quality of earnings reported, since it has a stronger ability to explaining share prices of firm.
Keywords: value relevance, financial statements, Nigerian, earnings per share, last day share, price, book value per share, accounting information. JEL Classification: M41, G21 |
| first_indexed | 2024-04-12T01:07:39Z |
| format | Article |
| id | doaj.art-328dbbee57bc484284960650e149c901 |
| institution | Directory Open Access Journal |
| issn | 1816-7403 1991-7074 |
| language | English |
| last_indexed | 2024-04-12T01:07:39Z |
| publishDate | 2016-12-01 |
| publisher | LLC "CPC "Business Perspectives" |
| record_format | Article |
| series | Banks and Bank Systems |
| spelling | doaj.art-328dbbee57bc484284960650e149c9012022-12-22T03:54:13ZengLLC "CPC "Business Perspectives"Banks and Bank Systems1816-74031991-70742016-12-0111413514310.21511/bbs.11(4-1).2016.048069Value relevance of financial statements and share price: a study of listed banks in NigeriaOlubukola Ranti Uwuigbe0Uwalomwa Uwuigbe1Jimoh Jafaru2Ebeguki Edith Igbinoba3Olufemi Adebayo Oladipo4Professor, Department of Accounting, Covenant University, Ota, OgunProfessor, Department of Accounting, Covenant University, Ota, Ogun StateAccountancy Department, Auchi Polytechnic, Auchi, Edo StateDepartment of Business Management Covenant University, Ota-Ogun (Nigeria)Accounting and Finance, Landmark University, Omu Aran (Nigeria)This paper examined the effects of value relevance of financial statements on firms share price in Nigeria. In achieving the objectives of this research, the fact book from the Nigerian Stock Exchange Market and the audited financial statement of listed banks spanning the period 2010-2014 were used. Also, a total of 15 listed banks in the Nigerian stock exchange market were selected and analyzed for the study using the purposive sampling method. However, in analyzing the research hypotheses, the study adopted the use of both descriptive statistics and the use of Fixed Effects Panel data method of data analysis technique. Findings from the study showed that a significant positive relationship existed between earnings per share (EPS) and Last day share price (LDSP). The study recommends the need for banks in the country to improve on the quality of earnings reported, since it has a stronger ability to explaining share prices of firm. Keywords: value relevance, financial statements, Nigerian, earnings per share, last day share, price, book value per share, accounting information. JEL Classification: M41, G21https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/8069/BBS_en_2016_04cont_Uwuigbe.pdf |
| spellingShingle | Olubukola Ranti Uwuigbe Uwalomwa Uwuigbe Jimoh Jafaru Ebeguki Edith Igbinoba Olufemi Adebayo Oladipo Value relevance of financial statements and share price: a study of listed banks in Nigeria Banks and Bank Systems |
| title | Value relevance of financial statements and share price: a study of listed banks in Nigeria |
| title_full | Value relevance of financial statements and share price: a study of listed banks in Nigeria |
| title_fullStr | Value relevance of financial statements and share price: a study of listed banks in Nigeria |
| title_full_unstemmed | Value relevance of financial statements and share price: a study of listed banks in Nigeria |
| title_short | Value relevance of financial statements and share price: a study of listed banks in Nigeria |
| title_sort | value relevance of financial statements and share price a study of listed banks in nigeria |
| url | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/8069/BBS_en_2016_04cont_Uwuigbe.pdf |
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