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Financial Ratio Analysis and Market Price of Share of Selected Quoted Agriculture and Agro-allied Firms in Nigeria After Adoption of International Financial Reporting Standard

Author

Listed:
  • Adegbola Olubukola Otekunrin*

    (Department of Accounting and Finance, Landmark University, Omu-Aran, Kwara State, Nigeria)

  • Tony Ikechukwu Nwanji

    (Department of Accounting and Finance, Landmark University, Omu-Aran, Kwara State, Nigeria)

  • Johnson Kolawole Olowookere

    (Department of Accounting, Faculty of Management Sciences, Osun State University, Osun State Nigeria)

  • Ben-Caleb Egbide

    (Department of Accounting, College of Business and Social Sciences, Covenant University Ota, Ogun State Nigeria)

  • Samuel Adeniran Fakile

    (Department of Accounting, College of Business and Social Sciences, Covenant University Ota, Ogun State Nigeria)

  • Adedoyin Ishola Lawal

    (, Department of Accounting and Finance, Landmark University, Omu-Aran, Kwara State, Nigeria)

  • Samuel Abiodun Ajayi

    (Department of Accounting and Finance, Landmark University, Omu-Aran, Kwara State, Nigeria)

  • Adebanjo Joseph Falaye

    (Department of Accounting and Finance, Landmark University, Omu-Aran, Kwara State, Nigeria)

  • Damilola Felix Eluyela

    (Department of Accounting and Finance, Landmark University, Omu-Aran, Kwara State, Nigeria)

Abstract

This study examined the relationship between Financial Ratio Analysis and Market Price of share in the Selected Quoted Agriculture and Agro-allied firm in Nigeria after Adoption of International Financial Reporting Standard(hereafter referred to as IFRS) from 2012 to 2016.The most extant literature on the relationship between Financial Ratio Analysis and Market Price in Nigeria were done when their financial statement is prepared as per Nigerian Accounting Standard and the results of most of these extant studies were mixed. Since Nigeria adopted IFRS in 2012 the relationship Financial Ratio Analysis and Market Price of Share is not yet fully known. This is a gap which this research study intended to address. This study used multiple regression analysis and is limited to the use of data taken from the selected firms’ financial statement. Proxies used for Financial Ratio include Earnings per Share, Net Assets per Share, Liquidity Ratio, Debt Ratio, Return on Asset and Return on Equity. The result shows that Earnings per Share, Net Assets per Share, Debt Ratio and Return on Asset Ratio are positively and significantly related toNigerian Agriculture and Agro-Allied Quoted firms Market Price of Share. Also it was found that the Liquidity Ratio and Return on Equity Ratio are not significantly related to Nigerian Agriculture and Agro-Allied Quoted firms Market Price of Share.

Suggested Citation

  • Adegbola Olubukola Otekunrin* & Tony Ikechukwu Nwanji & Johnson Kolawole Olowookere & Ben-Caleb Egbide & Samuel Adeniran Fakile & Adedoyin Ishola Lawal & Samuel Abiodun Ajayi & Adebanjo Joseph Falaye , 2018. "Financial Ratio Analysis and Market Price of Share of Selected Quoted Agriculture and Agro-allied Firms in Nigeria After Adoption of International Financial Reporting Standard," The Journal of Social Sciences Research, Academic Research Publishing Group, vol. 4(12), pages 736-744, 12-2018.
    • Handle: RePEc:arp:tjssrr:2018:p:736-744
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    Citations

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    Cited by:

    1. Iyabo Adeola Olanrele & Adedoyin I. Lawal & Ezekiel Oseni & Ahmed Oluwatobi Adekunle & Bukola, B. Lawal-Adedoyin & Crystal O. Elleke & Racheal Ojeka-John & Henry Nweke-Love, 2020. "Accessing the Impacts of Contemporary Development in Biofuel on Agriculture, Energy and Domestic Economy: Evidence from Nigeria," International Journal of Energy Economics and Policy, Econjournals, vol. 10(5), pages 469-478.
    2. Belal Rabah Taher Shammout, 2020. "The Impact of Stock Characteristics on Its Market Price in Jordanian Commercial Banks," Modern Applied Science, Canadian Center of Science and Education, vol. 14(3), pages 1-45, March.

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