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Time Series Behaviour And The Predictive Ability Of Accounting Numbers: Evidence From Listed Firms In Nigeria

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  • OKORO GODSDAY EDESIRI

Abstract

This paper presents the results in relation to the predictive ability of accounting numbers in a time series analysis. By means of accounting numbers from the Nigerian Stock Exchange Factbook and Annual Reports and Accounts, total assets, equity and share prices were obtained for 133 quoted firms during 2006-2015. The statistical technique adopted for data analysis was the Ordinary Least Square. The analysis showed that accounting numbers have significant relationship with share prices but negative predictive ability. Amongst all, total equity has more predictive ability. In addition, the financial sector was found to have the highest predictive ability, followed by the oil and gas sector. We strongly believe that the findings of this study may be of considerable value to management of business firms, policy makers, government and researchers in accounting and finance who employ accounting numbers in a time series forecast.

Suggested Citation

  • Okoro Godsday Edesiri, 2016. "Time Series Behaviour And The Predictive Ability Of Accounting Numbers: Evidence From Listed Firms In Nigeria," Journal of Academic Research in Economics, Spiru Haret University, Faculty of Accounting and Financial Management Constanta, vol. 8(2 (July)), pages 182-190.
    • Handle: RePEc:shc:jaresh:v:8:y:2016:i:2:p:182-190
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    More about this item

    Keywords

    Predictive Ability; Accounting Numbers; Time Series Behaviour; Nigeria.;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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