Financial Reporting Quality and Market Performance of Listed Deposit Money Banks (DMB) in Nigeria (2008-2017)
Owolabi Sunday
Department of Accounting, Babcock University, Nigeria.
Okere Wisdom
Department of Accounting, Babcock University, Nigeria.
Adeleke Ademola
Department of Accounting, Babcock University, Nigeria.
*Author to whom correspondence should be addressed.
Abstract
This research studied the association amid financial reporting quality and market performance (TOBINQ) of quoted deposit money banks in Nigeria. Using panel methodology in addition to other econometric tests (descriptive statistics test, correlation analysis, and Hausman test), this study discovered a significant relationship amid financial reporting quality (earnings predictability, timeliness) and market performance (TOBINQ) in listed deposit money banks in Nigeria. Also, timeliness (TML) has a negative and insignificant relationship with market performance (TOBINQ) of quoted deposit money banks in Nigeria. Furthermore, earnings predictability has a negative and significant relationship with performance (TOBINQ) of listed deposit money banks in Nigeria. This study recommended that management of deposit money banks ought to guarantee that they implement best practices in the process of financial reporting.
Keywords: Financial reporting, profitability, TOBINQ, agency theory, performance