ADOPTION OF IFRS AND FINANCIAL STATEMENT EFFECTS: THE PERCEIVED IMPLICATIONS ON FDI GHANA ECONOMY

Abstract This study examined the effect of IFRS adoption on the quality of financial statements of selected firms on the Ghana Stock Exchange. The study used the extent of management practices as a metric for financial statement quality. The audited annual reports of the selected firms from the GSE were analyzed using a panel regression model over the period 2001-2006 and 20072014. The study finds the adoption of IFRS to be significantly and negatively affect earnings management practices and, thus, improves financial statement quality. On the extent of earnings management practices, the study finds a decrease in the postadoption era as opposed to the pre-adoption era, signifying an improvement in accounting quality. The panel regression results show that adopting IFRS significantly decreases the extent of earnings management

EMPIRICAL EVIDENCE OF CORPORATE DISCLOSURE QUALITY OF LISTED COMPANIES IN SHENZHEN STOCK EXCHANGE

Abstract This paper took the selected data listed companies in Shenzhen Stock Exchange in 2008-2015 as samples to study the relationship between the CFO’s working as the Board Secretary concurrently and corporate disclosure quality, and also to examine the impact of different government intervention levels and nature of property rights. The results indicate that the CFO’s doubling as the Board Secretary can distinctly improve the quality of corporate disclosure in listed companies; the CFO’s holding concurrently the post of the Board Secretary can improve noticeably the disclosure quality of listed companies in regions with a high degree of government intervention; the CFO’s also serving as the Board Secretary can improve the disclosure quality of non-state-owned listed companies. Moreover, this paper presents a reasonable explanation for the phenomenon that increasingly more CFOs are serving as the Board Secretaries simultaneously via empirical study. Lastly, conclusions of this study can provide empirical evidence for the appointment of the Board Secretary in listed companies.

IMPACT OF DEPOSIT MONEY BANK CREDITS ON PERFORMANCE OF SMALL AND MEDIUM SCALE INDUSTRIES IN NIGERIA (1980-2014)

The study evaluated the impact of Deposit Money Bank Credits (DMBC) on the performance of Small and Medium Scale Industries (SMEI) in Nigeria using annual data from 1980 to 2014. The objective of the study is to examine the impact of deposit money bank credit on the performance of small and medium scale industries in Nigeria. Second, To determine the impact of interest rate on the output of small and medium scale industries in Nigeria. Autoregressive Distributive Lag (ARDL) model was employ given the nature of chosen variables to analyze the impact of deposit money bank credit on the performance of SMIs in Nigeria both in the long-run and the short- run. The result revealed that DMBC impacts positively on the performance of SMIs in Nigeria both in the long-run and short-run though has more explanatory power in the long-run. Interest rate has no statistically significant impact on SMIs growth in the short-run but exert a rather weak influence on the SMIs growth in the long-run. The speed at which the SMEs growth adjust to its long-run equilibrium is quite weak as the result shows the speed of convergence to be 0.0120570, which implies that about 1.21% disequilibrium is being corrected in the next period. Savings is also has a statistically significant impact on the SMIs growth in both the short-run and long-run. From the result and investigation it is obvious that financing is critical to the growth of SMIs and hence the study recommends that credit should be provided to SMIs through the use of monetary policy tools of the central bank of Nigeria (CBN). Also, there is the need to monitor loans that are advanced to these enterprises to ensure that such loans are used for what they are meant for. Loans at a reduced interest rate can also spur the growth of SMIs since that will reduce the cost incurred accessing funds for investment.