THE VALUE RELEVANCE OF RECONCILIATION ADJUSTMENTS OF FIRST-TIME IFR ADOPTERS: EVIDENCE FROM THE NIGERIAN DEPOSIT MONEY BANKS
Abstract The paper examines the value relevance of IFRS reconciliation adjustments made by listed Nigerian deposit money banks (DMBs) following the mandatory adoption of IFRS as the national accounting standards effective 1, January 2012. Using the IFRS reconciliation adjustments disclosed in the 2012 annual reports of DMBs and adopting the Ohlson (1995) price model, the study fails to find evidence that the IFRS reconciliation adjustments are value relevant. The paper argues that investors see ...
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