Uwaleke, UchennaJames, R. Adeleye AdefiranyeFunsho, Adisa Kamaluddeen Ibrahim2023-12-102023-12-102018-06-23Abad, D., Cutillas-Gomariz, M. F., Sanchez-Ballesta, J. P., and Yague, J. (2016). Real earnings management and information asymmetry in the equity market. http://d0i.0rg/l 0.1080/09638180.2016.1261720 Akerlof, G. A. (1970). The Market for “Lemons”: Quality Uncertainty and the Market Mechanism. The Quarterly Journal of Economics 84 (3), 488-500. In Auronen, L. (2003). Asymmetric Information: Theory and Applications. HUT DIEM. Seminar in Strategy and International Business. Auronen, L. (2003). Asymmetric Information: Theory and Applications. HUT DIEM. Seminar in Strategy and International Business. Retrieved from http://citeseerx.ist.psu.edu/viewdoc/download?rep=repl &type=pdf&doi=l 0.1.1.1 98.9252 Bartov, E., Givoly, D., & Hayn, C. (2002). The rewards for meeting-or-beating earnings expectations. Journal of Accounting and Economics, 33 (2), 173-204. Beest, F., Braam, G., & Boelens, S. (2009). Quality of Financial Reporting, measuring qualitative characteristics. NiCE Working Paper 09-108. Bhattacharya, N., Desai, H., & Venkataraman, K. (2010). Earnings quality and information asymmetry, Working Paper, Edwin L. Cox School of Business, Southern Methodist University. Bhattacharya, U. & Spiegel, M. (1991). Insiders, outsiders, and market breakdowns. The Review of Financial Studies. 4(2), 255 — 282. Biddle, G., & Hilary, G. (2006). Accounting quality and firm-level capital investment. The Accounting Review. 81, 963-982. Cerqueira, A. & Pereira, C. (2014). Financial Reporting Quality and Information Asymmetry in Europe. JEL eLib. Cohen, D.A., Dey, A., & Lys, T.Z. (2008). Real and accrual based earnings management in the Pre and Post Sarbanes Oxley periods. The Accounting Review, 83 (1), 757-787. Cohen, D.A., & Zarowin, P. (2010). Accrual-based and real earnings management activities around seasoned equity offerings. Journal of Accounting an Economics, 50(1), 2-19. Cohen, J., Krishnamorthy, G„ & Wright, A. (2004). The corporate governance mosaic and financial reporting quality. Journal of Accounting Literature, 23, 87- — -fl Beest, F„ Braam, G„ & Boelens, S. (2009). Quality of Financial Reporting: measuring qualitative characteristics. NiCE Working Paper 09-108. Desai, H. & Venkhataram, K. (2007). Earnings quality and information asymmetry: Evidence from TradingCost. Social Science electronic paper collection. February 2007.https://keffi.nsuk.edu.ng/handle/20.500.14448/691This study investigated the impact of accrual and real earnings qualities of financial reports on information asymmetry of listed firms that are engaged in production of goods in Nigeria over the period of 2007 to 2016. The objective was to use both measures of financial reporting quality to ascertain the quality of these reports with a view to seeing the extent to which information asymmetry and investment decisions are affected. This was necessitated by the low trading in the shares of these firms when compared with that of the banking sector. Secondary data was obtained from the annual reports and accounts of a sample of 31 of these listed companies in Nigerian Stock Exchange. Panel regression method was employed to test its formulated hypotheses. The results from regression results show that accrual-based measure of financial reporting quality before and after IFRS regime had a significant impact on investors ’ information advantages in buying and selling stocks of these firms in Nigeria while real earnings method of measure of financial reporting quality had no significant impact on investors * information advantages or asymmetry. The study recommended that management of firms should ensure that the financial reports are as qualitative as possible so as not to lose investors and investable funds if the users discover any anomaly in these reports.enAccrual, Financial Reporting Quality, Information Asymmetry, Real Earnings.Article