244 research outputs found
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BOARD INDEPENDENCE, GENDER DIVERSITY, AND FINANCIAL EXPERTISE ASDRIVERS OF FIRM PERFORMANCE IN EMERGING MARKETS: EMPIRICAL INSIGHTS FROM THE NIGERIAN MANUFACTURING SECTOR
No full textCorporate governance remains a pivotal factor influencing firm financial performance, especially within emerging economies. This study investigates how board characteristics and audit committee expertise affectfirm profitability, proxied by return on assets (ROA), using panel data from 24 Nigerian manufacturing firms over the period 2012–2021. Employing generalized least squares (GLS) regression with interaction terms, the analysis reveals that board independence, gender diversity, and financial expertise significantly enhance ROA, while board size and meeting frequency do not show significant effects. Moreover, audit committee expertise positively moderates the impact of independent directors, gender-diverse boards, and financial literacy on firm performance, underscoring the synergistic role of governance structures. These findings validate agency theory and resource dependence theory by demonstrating that effective monitoring and resource provision through expert audit committees and diverse, skilled boards improve firm outcomes in the Nigerian manufacturing sector. Policy implications highlight the need to enforce regulatory measures promoting board independence, gender diversity, and financial competency, alongside strengthening audit committee capabilities, to enhance corporate governance quality and firm value. This study contributes novel empirical evidence for governance reforms tailored to developing economies with similar institutional contexts
MODERATING EFFECT OF FIRM ENVIRONMENTAL SENSITIVITY ON THE RELATIONSHIP BETWEEN SUSTAINABILITY REPORTING DIMENSIONS AND FINANCIAL PERFORMANCE OF AN EMERGING MARKET ECONOMY
No full textThis study examines the moderating role of firm environmental sensitivity on the relationship between sustainability reporting dimensions, environmental, social, and governance disclosures, and the financial performance of nine listed oil and gas firms in Nigeria from 2019 to 2023. Employing panel data analysis and interaction models, the results reveal that environmental and social reporting have a positive influence on financial performance, while governance reporting shows an insignificant effect. Firm environmental sensitivity significantly moderates the impact of environmental reporting on financial outcomes, underscoring the importance of contextual industry factors in enhancing the value of sustainability disclosures. The findings contribute to the literature by integrating firm-specific environmental sensitivity into the analysis of sustainability reporting effectiveness, providing valuable insights for regulators, investors, and corporate managers aiming to optimize sustainability practices within environmentally sensitive sectors
STABLE DIVIDEND POLICY AND VALUE OF LISTED HEALTHCARE FIRMS IN NIGERIA
No full textThis paper examines the effect of stable dividend policy on the value of listed healthcare firms in Nigeria. The study used correlation research design and utilized secondary data collected from the annual reports and accounts of the sampled companies for a period of 13 years (2008-2020). The population of the study constitutes all the ten (10) listed healthcare firms in Nigeria out of which a sample of eight (8) healthcare firms was drawn. The data were analyzed using descriptive statistics, correlation and regression analysis. Robustness tests were conducted to validate the result. The finding of the study reveals that stable dividend policy has significant positive effect on firm value. Therefore, the study concludes that, accordance with the dividend relevance theory, stable dividend policy of listed Nigerian healthcare firms influences their value. The study recommends that for an increased in firm value, listed healthcare firms in Nigeria should stabilize their dividend policy
BOARD ATTRIBUTES AND SUSTAINABILITY REPORTING OF LISTED FIRMS IN NIGERIA
No full textThis study investigates the impact of board attributes on sustainability reporting among listed firms in Nigeria from 2013 to 2022, using a correlational research design. The research population encompasses all Nigerian listed firms, with a stratified sampling technique deemed appropriate for the study. Secondary data were sourced from the audited annual reports and accounts of sampled firms available on the Nigerian Exchange Group (NGX) website. The analysis of the extracted panel data was conducted using multiple regression techniques with STATA version 13. The findings of the study reveal that board size, gender diversity, and independence positively influence sustainability reporting, while board commitment has a negative impact on sustainability reporting. Consequently, the study recommends that the management of Nigerian listed firms should view large and diverse boards as an asset for promoting sustainability reporting. Such boards, comprising experienced and knowledgeable members, are more likely to make effective decisions on sustainability-related issues. Additionally, the presence of women on boards should be considered a valuable factor in encouraging comprehensive financial reporting, which includes qualitative and quantitative information on the social, environmental, and economic activities of the business for stakeholders
WOMEN IN TOP ECHELON POSITIONS AND THEIR EFFECTS ON CARBON EMISSION DISCLOSURE: EVIDENCE FROM AN EMERGING NATION
No full textGender diversity in leadership roles and carbon emissions disclosure are two subjects that are generating attention in the corporate landscape. Hence, this study aims to examine the impacts of women in top-echelon positions on carbon emission disclosure of Nigerian companies during the years 2012–2021. Content analysis was employed on the annual report and sustainability report of 12 sampled listed deposit money banks in Nigeria to capture data on carbon emissions. The collected data were analyzed with the aid of the generalized least squares (GLS) multiple regression technique. Using 120 firm-year paneled observations, the result of the GLS showed that women as CEOs, board members, and audit committee members are not a significant determinants of corporate carbon disclosure. The findings have significant implications both in theory and practice, as they contribute to the ongoing discussion about women in governance and corporate sustainability
ENVIRONMENTAL AND SOCIAL INFORMATION DISCLOSURE QUALITY AND FINANCIAL PERFORMANCE OF LISTED MANUFACTURING COMPANIES IN NIGERIA
No full textThe General perception of investors and other stakeholders is that self-developed environmental and social information disclosure (ESID) of companies lack quality required to make informed business decision which may impact company operating cash flow (OCF). Although, poor quality ESID often damaged company reputation and cause competitive setback that usually bring down OCF. Based on this backdrop, this study explores ESID quality of Listed Manufacturing Companies in Nigeria (LMCN) based on Global Reporting Initiative (GRI) and evaluate the impact on their OCF. The study employs Ex-Post Facto research design and data collected from annual reports of forty-seven LMCNs were analyzed using panel regression analysis based on random effect model. While quality of ESID of companies were measured based on GRI sustainability quality principle such as Balance, Clarity, Timeliness, Relevance, Reliability and Comparability, financial performance (FP) was measured by OCF of the studied companies. Findings from regression result revealed that quality of environmental and social information disclosure displays a significant and positive correlation with OCF. This study concluded that substantive investment in sustainability activities and quality disclosure is a form of undisputed contribution to sustainable development that in turn provide a basis for securing enhanced FP. This study recommends that manager should henceforth, consider potential returns that will come from investment in substantive environmental and social activities and quality disclosure that follow GRI quality reporting principle
POST COVID-19 PANDEMIC: COMPARATIVE STUDY IN THE VALUE RELEVANCE OF ACCOUNTING INFORMATION BETWEEN LISTED MANUFACTURING FIRMS AND LISTED SERVICE FIRMS IN NIGERIA
No full textThe study investigated the differences in the value relevance of accounting information between the listed service firms and the listed manufacturing firms in Nigeria in the post COVID-19 period. Secondary data was used from the annual reports of the sampled firms and cash craft stock broker website between 2021 and 2023. correlation research design was used. The population of the study included all the seventy-three listed manufacturing firms and twenty three listed service firms in Nigeria as at 31st December, 2023. The sample size was fifty-two firms from the listed manufacturing firms and twenty from the listed service firms; multiple panel regression model was used for the purpose of analysis. Based on the findings of the study, earnings per share and book value of equity reported by listed manufacturing firms determines share price more than the ones reported by the listed service firms. However, divided among the listed service firms should be given preference over dividend reported by the listed manufacturing firms in Nigeria in equity valuation. Additionally, listed manufacturing and financial service firms in Nigeria should work towards increasing their earnings as it determines share price. As well, they should suitably manage their book value, pay dividend to investors from the profit generated and a balance should be strike between cash inflow and out flow from operations to avoid cash shortage or keeping unneeded cash. Moreover, SEC and FRC should maintain their effort in ensuring the integrity of information released by the listed firms in Nigeria
EFFECT OF COMPLIANCE COST AND TAX BURDEN ON TAX COMPLIANCE OF SMALL AND MEDIUM-SCALE ENTERPRISES IN BENUE STATE, NIGERIA
No full textTax compliance is critical for small and medium-scale enterprises (SMEs) in Benue State, Nigeria, significantly affecting their growth and sustainability. The SME sector is pivotal to the economic growth and development of any nation and Nigeria is no exception. As a result, this study examined the effect of cost of compliance and tax burden on tax compliance of small and medium-scale enterprises (SMEs) in Benue State of Nigeria with the view to further provide empirical evidence on the factors affecting tax compliance. To achieve this, a survey of SMEs in the three senatorial districts of Benue state was conducted to collect data on the perceptions of SMEs on the effect of cost of compliance and tax burden on tax compliance in Benue State of Nigeria. The study’s population comprised the 25,913 registered SMEs in Benue state of Nigeria. The sample size was 552 SMEs. This study employed the use a cross-sectional survey and correlational research designs. The sampling technique adopted stratified proportionate random. Data were collected through the use of questionnaires and analyzed using Partial Least Squares -Structural Equation Modelling (PLS-SEM). The study found that the cost of compliance and tax burden showed a positive and significant effect on the tax compliance of SMEs in Benue State of Nigeria. The study recommends that tax authorities to work astutely towards making compliance more affordable and straightforward for SMEs while also strengthening enforcement measures to discourage non-compliance. Tax authorities should come up with a simple, sufficient, tax return system to help taxpayers to complete their tax returns accurately. Government should formulate policies that aim to reduce the cost of compliance while ensuring a balanced tax burden could enhance voluntary compliance, leading to a broader tax base and more sustainable public finance
OWNERSHIP STRUCTURE AND CORPORATE SOCIAL RESPONSIBILITY OF LISTED OIL AND GAS COMPANIES IN NIGERIA
No full textThe limited integration of ownership dynamics into CSR performance poses a persistent challenge in the Nigerian oil and gas industry. This study investigates the influence of ownership structure on Corporate Social Responsibility (CSR) among listed oil and gas companies in Nigeria. Using a correlational research design, data were drawn from a population of publicly listed oil and gas firms, with a final sample of 80 firm-year observations. Data were collected through content analysis of annual reports and sustainability disclosures. The analysis was carried out using descriptive statistics, correlation, and multiple linear regression, with the aid of STATA software tools. The findings reveal that all three ownership types significantly impact CSR, with foreign ownership demonstrating the most substantial influence, followed by institutional and managerial ownership. These results affirm that external and institutional stakeholders drive firms toward enhanced CSR practices, aligning with stakeholder and legitimacy theories. The study concludes that ownership structure plays a critical role in shaping CSR strategies and transparency levels among oil and gas companies in Nigeria. Based on these findings, the study recommends that firms develop strategic frameworks to attract and retain foreign investors by aligning CSR practices with global sustainability standards. This will not only improve social responsibility outcomes but also enhance competitiveness and investor confidence in the Nigerian oil and gas sector
OPTIMIZING PROFITABILITY THROUGH CREDIT RISK METRICS IN COMMERCIAL BANKING OF AN EMERGING MARKET: INSIGHTS FROM PANEL REGRESSION ANALYSIS
No full textThis studyexamines the effect of credit risk management on the profitability of commercial banks, with a focus on two key profitability measures: Earnings Per Share (EPS) and Profit After Tax (PAT). Using panel data regression analysis, the study explores how factors such as Non-Performing Loans (NPL), Loan Loss Provision (LLP), Loans and Advances (LA), and Total Deposits (TD) influence these profitability indicators. The results show that while the relationship between credit risk management practices and profitability is complex, key variables such as Loan Loss Provision and Loans and Advances significantly impact profitability, both directly and indirectly. Non-performing loans, though influential, do not have as strong a relationship with profitability as expected. The findings suggest that banks can improve profitability by optimizing credit risk management practices, with an emphasis on better provisioning, strategic loan growth, and enhanced monitoring of credit quality. This research contributes to the understanding of how effective credit risk management can drive financialperformanceincommercialbanksandoffersinsightsforbothpractitionersand policymakersaimingto strengthen the banking sector's resilience and profitability