Abstract: This study empirically investigated the impact of IFRS adoption and financial performance indicators of quoted conglomerates in Nigeria with specific focus on pre-IFRS (2007 to 2011) and Post –IFRS adoption (2012 to 2018). The key performance indicators considered include price earnings ratio, liquidity, leverage and growth in revenue .The study adopted the T-statistics to test the research hypothesis. Findings presented in the above section clearly revealed that price earnings ratio (PER), liquidity (LIQ) and leverage (LEV) showed an increase indicating that IFRS adoption has had a positive impact of the performance of firms among the conglomerate sector of the economy. However, the Paired t-test showed that that the difference in mean values for all variables were statistically insignificant. Hence, we conclude that, even with the adoption of IFRS, the consumer sector performance still did not change. Hence, there is need for regulators to ensure that local policies are introduce to encourage or stimulates the economy further to enable better performance on the part of the firms. Again, management need to consider growth strategy that will result in the improvement in return on invested capital overtime. Lastly, management should consider adopting policy to improve liquidity position especially in the face of rising debt ratio as observed in the leverage variable.
Keywords: IFRS Adoption, Financial Performance Indicators, Quoted Conglomerates.
Title: IFRS Adoption and Financial Performance Indicators of Quoted Conglomerates Firms in Nigeria
Author: Miebaka Big-Alabo, C.O. Ofurum
International Journal of Interdisciplinary Research and Innovations
ISSN 2348-1218 (print), ISSN 2348-1226 (online)
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