Value relevance of financial statements and share price: a study of listed banks in Nigeria
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Published December 22, 2016
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Author(s)Link to ORCID Index: https://orcid.org/0000-0002-6566-1083Link to ORCID Index: https://orcid.org/0000-0001-8769-3492Link to ORCID Index: https://orcid.org/0000-0003-4570-8996
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DOIhttp://dx.doi.org/10.21511/bbs.11(4-1).2016.04
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Article InfoVolume 11 2016, Issue #4 (cont.), pp. 135-143
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Cited by10 articlesJournal title: IOP Conference Series: Earth and Environmental ScienceArticle title: Corporate Governance and Financial Statement Fraud among Listed Firms in NigeriaDOI: 10.1088/1755-1315/331/1/012055Volume: 331 / Issue: 1 / First page: 012055 / Year: 2019Contributors: O R Uwuigbe, O Olorunshe, U Uwuigbe, E Ozordi, O Asiriuwa, T Asaolu, O ErinJournal title: Accounting and Financial ControlArticle title: Understanding the concept of profit as an economic information instrument: disclosure of semantic meaningsDOI: 10.21511/afc.02(1).2018.03Volume: 2 / Issue: 1 / First page: 27 / Year: 2018Contributors: Zarah Puspitaningtyas, Akhmad Toha, Aryo PrakosoJournal title: Investment Management and Financial InnovationsArticle title: Corporate social environmental reporting and stock prices: an analysis of listed firms in NigeriaDOI: 10.21511/imfi.15(3).2018.26Volume: 15 / Issue: 3 / First page: 318 / Year: 2018Contributors: Omoike Osereme Amiolemen, Uwalomwa Uwuigbe, Olubukola Ranti Uwuigbe, Ilogho Simon Osiregbemhe, Ajetunmobi OpeyemiJournal title: The Indian Economic JournalArticle title: Value Relevance and Share Price Dynamics: An Empirical Analysis of Indian Multinational CorporationsDOI: 10.1177/00194662241277265Volume: 72 / Issue: 5 / First page: 807 / Year: 2024Contributors: Pallavi Goyal, Sanil Kumar, * Ayushman, Vijay Vrat AryaJournal title: Banks and Bank SystemsArticle title: Corporate governance and quality of financial statements: a study of listed Nigerian banksDOI: 10.21511/bbs.13(3).2018.02Volume: 13 / Issue: 3 / First page: 12 / Year: 2018Contributors: Uwalomwa Uwuigbe, Eluyela Damilola Felix, Olubukola Ranti Uwuigbe, Obarakpo Teddy, Falola IreneJournal title: Problems and Perspectives in ManagementArticle title: Tax revenue and agricultural performance: evidence from NigeriaDOI: 10.21511/ppm.17(3).2019.27Volume: 17 / Issue: 3 / First page: 342 / Year: 2019Contributors: Olufemi Adebayo Oladipo, Francis Iyoha, Adeniran Fakile, Abiola John Asaleye, Damilola Felix EluyelaJournal title: Journal of Risk and Financial ManagementArticle title: Reevaluating Bank Price-to-Book Ratios: An In-Depth Analysis of Equity Components across Economic CyclesDOI: 10.3390/jrfm17080363Volume: 17 / Issue: 8 / First page: 363 / Year: 2024Contributors: Fernando García Martínez, Juan Domínguez Jiménez, Ricardo Queralt Sánchez de las MatasJournal title: IOP Conference Series: Earth and Environmental ScienceArticle title: Board Expertise and Sustainability Reporting in Listed Banks in NigeriaDOI: 10.1088/1755-1315/331/1/012048Volume: 331 / Issue: 1 / First page: 012048 / Year: 2019Contributors: O E Umukoro, O R Uwuigbe, U Uwuigbe, A Adegboye, O Ajetunmobi, C NwazeJournal title: Cogent Business & ManagementArticle title: Effect of international financial reporting standard (IFRS) adoption on earnings value relevance of quoted Nigerian firmsDOI: 10.1080/23311975.2019.1643520Volume: 6 / Issue: 1 / First page: / Year: 2019Contributors: Ndubuisi Odoemelam, Regina G. Okafor, N. Grace Ofoegbu, Collins G. NtimJournal title: WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICSArticle title: Incremental Content of Accounting Information when Local Options of IFRS are Applied: Empirical Evidence from an Emerging EconomyDOI: 10.37394/23207.2024.21.149Volume: 21 / Issue: / First page: 1821 / Year: 2024Contributors: Wachira Boonyanet, Waewdao Promsen
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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