Corporate Governance and Value Relevance of Accounting Information:Evidence from Nigeria
Bibliographic record
Abstract
Purpose- This study evaluates the connection between Corporate Governance and Value relevance of accounting information for firms listed on the Nigerian Stock Exchange. It sought to ascertain the effectiveness of corporate governance by demonstrating a link between corporate governance and firm valuation. Design/Methodological/Approach -The paper employed the Ohlson valuation model and variants of the model, using adjusted R 2 as measures of value relevance. The paper used board, audit committee and external audit variables as indicators of corporate governance. The sample consisted of forty-five(45) listed firms over the period 2008 to 2015. Findings- results shows that accounting information is value relevant on the Nigerian market, however presently corporate governance practices does not lead to perceptible increase in the value relevance of accounting information. Research limitation/implication -this paper provides evidence that corporate governance has not improved the quality of accounting information in Nigeria, a result which contradicts the evidence from other countries. The Nigerian context implies that indicators of corporate governance quality from empirical literature do not address the problem of corporate governance in Nigeria. Originality/value -the paper determines the effect of corporate governance on value relevance of accounting information, using the relationship of accounting information with share price as indicator of quality of accounting information. The implication therefore is that efficient capital allocation will improve if the quality of corporate governance is improved Keywords: Value Relevance, Corporate Governance, Accounting information, Nigeria
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How this classification was reachedexpand
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.017 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.001 | 0.007 |
| Open science | 0.001 | 0.001 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one teacher head, not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".