Effects of Accounting Information on Financial Performance of Listed Insurance Companies in Nigeria

EFFECTS OF ACCOUNTING INFORMATION ON FINANCIAL PERFORMANCE OF LISTED INSURANCE COMPANIES IN NIGERIA

DR TONYE OGIRIKI1

PORBENI CHRISTIANA OLUFUNKE2

DEPARTMENT OF ACCOUNTING

FACULTY OF MANAGEMENT SCIENCES

NIGER DELTA UNIVERSITY, WILBERFORCE ISLAND,

BAYELSA STATE

08035538046

Abstract

This study examined the effect of accounting information on financial performance of the listed insurance companies in Nigeria. Ex-post facto research design was utilized in this study. A total of 10 insurance companies were selected for the length of the inquiry (2015-2020). This inquiry made use of annual reports and financial statement from Nigerian insurance institutions. The obtained data was analyzed using a multiple regression model. In order to show how much diversity of stock price can be explained by the use of explanatory factors, we employed the R-squared coefficient of determination. The T-Statistic and F-Statistic were used to show how big of an effect the independent variable had on the dependent variable. Regression research indicated that accounting information proxies for cash flow ratio and book values had a negative and statistically insignificant impact on stock price at a 5% level of significance. The research also recommends that the management of insurance companies understand how their activities impact stock prices and use it as a measure of investors’ trust and preference.

Keywords: Accounting Information, Financial Performance, Insurance Companies

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Ogiriki, T. & Olufunke, P.C. (2022). Effects of Accounting Information on Financial Performance of Listed Insurance Companies in Nigeria. African Journal of Business and Economic Development, 2(1), 104-114. Available online at: https://www.ijaar.org/articles/ajbed/v2n1/ajbed-v2n1-Jan22-p2120.pdf

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