Olufemi Adebayo Oladipo

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

The responsibility of the government of any economy cannot be overemphasized. Likewise, the resources generated and infrastructural development helps to boost the economic growth of any nation. There has been overdependency of Nigerian economy on the oil sector, the major source of revenue. However, this sector has experienced several challenges ranging from devaluation in naira and fall in prices of crude oil in the international market. This serves as a revelation for the Nigerian government to seek an additional source of income. To this end, the main aim of this paper is to examine the impact of total tax revenue on agricultural performance in Nigeria. The study uses Engel and Granger approach to cointegration to establish the long- and short-run behavior, it was found that a positive and significant relationship exists between revenue obtained in the agricultural sector, capital in agricultural sector proxy by loan and agricultural output, while employment and total tax generated are not significant in the short run. In the long run, employment, capital and total revenue are statistically significant with agricultural output, while tax is insignificant. The implication of the result showed that tax has not yielded desirable result in promoting the agricultural sector in Nigeria. To promote pro-poor growth, long-run employment and improve overall welfare, there is a need to incorporate benefit from tax into agricultural performance. The study recommends among others the need for a systemic approach, given a significant percentage of the total tax generated to boost the development of the agricultural sector.