244 research outputs found
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REGULATORY STRINGENCY, CORPORATE GOVERNANCE AND FIRM PROFITABILITY: STATIC PANEL ANALYSIS OF INSURANCE COMPANIESIN NIGERIA USING RANDOM EFFECTS APPROACH
No full textThis study investigates the influence of corporate board characteristics on the profitability of listed insurance firms inNigeria, witha particular focus on the moderatingeffect ofregulatorystringency. Usingbalanced panel data covering10 firms from2014 to2023, the researchapplies a randomeffectsregression model to explore the relationshipsamong board size, board composition, gender diversity, meeting frequency, and financial expertise in relation to return on assets (ROA). The analysis also incorporates firm-specific controls and regulatory stringency indices to examine conditional effects. Descriptive statistics reveal moderate variability across governance attributes, while correlationand multicollinearitydiagnostics confirmstatistical validity. The results indicate that board gender diversity and financial expertise significantly influence firm profitability, with regulatory stringency negatively moderating the relationship. Findings align with agency and resource dependence theories,emphasizingthedualroleofgovernance qualityand externalinstitutionalconstraints.This research contributes to the evolving discourse on corporate governance in emerging markets by offering evidence-based insights into board dynamics under varying regulatory intensities. The study recommends targeted reforms to improve board capacity while recognizing the need for adaptive regulatory frameworks that support firm performance
WORK ENVIRONMENT, REMUNERATION AND ACCOUNTING LECTURERS’ PERFORMANCE IN POLYTECHNICS IN NORTH WEST, NIGERIA
No full textThis study investigated the impact of work environment and remuneration on accounting lecturers’ performance in polytechnics in the North-West, Nigeria. Two research questions and two hypotheses were formulated to guide the study. The study adopted a descriptive survey design. The target population was 302 which included all the accounting lecturers in the 12 polytechnics in the North West, Nigeria. A total of 169 respondents was arrived at using Research advisors table for sample size determination. One hundred and fifty- four (154) sample members drawn from these Polytechnics filled and returned the copies of the questionnaires but only 145 copies are valid and useable for the analysis. The sample was selected using the proportionate stratified random sampling technique. Data was collected by using closed ended questionnaires and was analyzed using descriptive and inferential statistics with the aid of STATA Version 13. It was found out that both work environment and remuneration have positive and significant impact on the accounting lecturers’ performance of the sample respondents of the polytechnics in the North West, Nigeria. In conclusion, the entire two variables investigated i.e. work environment and remuneration have positively and significantly impacted on the accounting lecturers’ performance in Polytechnics in the North West, Nigeria. Based on the findings and conclusions, the study recommends that government should regularly review the salary structure of the polytechnic staff in order to enhance their performance. Government/Managements of the Polytechnics in Nigeria should ensure that the work environment is conducive and secured and adequate facilities for offices, teaching and learning are provided in the polytechnics in order to motivate accounting lecturers’ to perform their job (teaching, supervision and research) effectively and efficiently
MEDIATING EFFECT OF INTERNAL AUDITORS’ ETHICAL CONDUCT ON THE RELATIONSHIP BETWEEN USAGE OF INFORMATION TECHNOLOGY, MANAGEMENT SUPPORT FOR INTERNAL AUDIT DEPARTMENT, AND INTERNAL AUDIT EFFECTIVENESS: A CONCEPTUAL FRAMEWORK
No full textLow level of internal audit effectiveness is practically increasing in the Nigerian ministries, department, and agencies. In proffering solution to this lingering issue, this present study proposed a framework to examine the degree of effectiveness of internal audit functions in Kano state, Nigeria MDAs. The proposed framework is motivated by agency theory with the mediating effect of auditor’s ethical conduct. This present study extends the already extant body of knowledge in the area of internal audit effectiveness by expanding agency theory with the mediating effect of auditor’s ethical conduct. Also, this study has implication to support management, shareholders and other policy makers in addressing ineffectiveness and corrupt practices in the Nigerian MDAs. If this framework is authenticated, it would provide more evocative insight on the extends of internal audit effectiveness in Kano Nigerian MDAs, the legislators and government official would benefit greatly from this study if eventually concluded as it would assist MDAs to enhance internal audit effectiveness and curb corruption. In the subsequent studies the proposed framework will be empirically tested through data collection and analysis of relevant data
EXCHANGE RATE DYNAMICS AND FORECASTING ACCURACY IN EMERGINGECONOMIES: INTEGRATING ENSEMBLE LEARNING MODELS WITH STRUCTURAL TIME SERIES DECOMPOSITION FOR THE USD/ZAR RATE
No full textThisstudyinvestigatesthepredictiveperformanceofmachinelearningmodelsinforecastingthedailyexchange rate of the South African rand (USD/ZAR) using data from March 5, 2020, to July 19, 2024. Employing statistical diagnostics such as ADF and KPSS tests, the exchange rate series is found to be non-stationary in levels but stationary after first differencing. Descriptive statistics and seasonal-trend decomposition reveal notable structural features, including skewness, excess kurtosis, and strong seasonal effects. Among the models tested, AdaBoost outperformed Random Forest and K-Nearest Neighbors in terms of forecast accuracy, as measured by RMSE and MAE, despite lowexplanatorypower across all models. These findings underscore the potential of ensemble learning methods for improving short-termcurrency forecasts in emerging markets, while alsohighlightingthelimitationsofdata-drivenmodels incapturingtheinherent volatilityandunpredictabilityof exchange rate movements. The study offers relevant policy insights for monetary authorities and financial market participants, and recommends the integration of hybrid modeling frameworks that combine machine learning with structural macroeconomic variables
EFFECT OF AUDIT QUALITY ATTRIBUTES AND IFRS ADOPTION ON FINANCIAL REPORTING QUALITY OF LISTED MANUFACTURING FIRMS IN NIGERIA
No full textThe accounting and auditing profession in the last two decades have been in the limelight after the fall of many multinational companies. The fall of these companies were examined by many researchers and were linked to audit quality deficiencies and inadequacies of financial reporting standards. To forestall future occurrences the international financial reporting standard (IFRS) adoption gained global momentum as it is expected to enhance all the proxies of financial reporting quality. Similarly, the International Auditing and Assurance Standards Board (IAASB) promulgated new set of auditing standards in an attempt to regain public confidence. This is because audit quality is an essential element in achieving global financial stability and high-quality financial reporting. This study examined the effect of audit quality attributes (proxy by audit report timeliness, audit fees and audit firm size) and IFRS adoption on financial reporting quality (proxy by accrual and real earnings management) of 40 listed manufacturing firms on the Nigerian Exchange Group (NGX). The study adopted a Correlational research design using secondary data for the period 2007 to 2021. Panel data technique was employed, while fixed and random effects model were used for estimation. Descriptive Statistics, Pearson correlation coefficient and multiple regression analysis were used for analysis to determine possible link between the variables identified. The accrual earnings management (AEM) was measured by the Yoon, Miller & Jiraporn (2006) model and the real earnings management (REM) measured by the Roychowdhury (2006). The regression results reveal a R2 of 39% and 41% which suggests AEM and REM are close substitutes. Audit report timeliness (0.0012 and 0.0003) positive and statistically significant. This suggests a positive impact on financial reporting quality and the length of time from a company’s accounting year end to the date of the auditor report can determine the FRQ of listed manufacturing firms in Nigeria. Audit fee (-0.0604 and – 0.0418) and Audit firm size (-0.9163 and -0.0096) have negative correlation and are also statistically not significant to financial reporting quality. The adoption of IFRS for AEM and REM (-0.5436 and 0.0091) however, they have P- values which are positive and significant at 0.05 suggesting significant association of manufacturing firms listed in NGX negatively affects AEM but positively affects REM. Hence, the study recommends the enhancing the implementation and oversight of IFRS standards and ensuring that the regulations are not only adhered to but also comprehensively understood, and any unintended consequences are mitigated
IMPACT OF DIGITAL FINANCIAL SERVICES ON SAVINGS DEVELOPMENT IN NIGERIA
No full textThis study examines the impact of digital financial services (DFS) on savings development in Nigeria, from 2009 to 2021, using the autoregressive distributed lag (ARDL) method. A phenomenon in the annals of Nigeria’s financial system, is the funding-gap to meeting her development needs, evidenced in rising interest rates, increasing budget deficit, failure of national development plans, etc, which this study attributes to lack of digital savings facilities. The findings revealed that in the long-run, automated teller machine (ATM) has positive effect on total savings (TS) while web transfer (WT), mobile transfer (MT), and point of sales (POS) have negative long[1]run effect on TS. It implies that, in the long-run, ATM may develop savings potency of the saver, perhaps by technological instinct and capacity. The study upholds the technology acceptance theory, that digital technology may develop savings in Nigeria. Based on these findings, the Central Bank of Nigeria needs to create an enabling environment and policies to encourage the innovation of more digital savings platforms to diversify and increase savings. Financial institutions should design user[1]friendly interfaces that could facilitate savings and educate bank service consumers about the benefits of using ATM savings platform. Fiscal incentives should be provided to boost savings via ATM. Further studies on savings development are suggested to apply different methods to test the potency of all digital platforms
CEO CHARACTERISTICS AND FINANCIAL REPORTING QUALITY IN LISTED CONSUMER GOODS COMPANIES IN NIGERIA
No full textThis study investigates the connection between the CEO characteristics and the quality of financial reporting in Nigerian consumer goods companies. Data used was from the annual report of 10 consumer goods firms listed in the Nigeria Stock Exchange from 2013 to 2022. Using Ordinary least square regression, the research revealed that CEO gender and tenure have a positive and substantial effect on financial reporting quality. CEO financial expertise was found to be insignificant. The study concluded that long-tenure CEOs and female CEOs contribute to better financial reporting quality in the consumer goods industry. The study recommends among others that the board of directors of consumer goods firms in Nigeria should encourage gender diversity at the executive level through policies and initiatives that promote equal opportunities for women
CAPITAL STRUCTURE AND FINANCIAL PERFORMANCE OF LISTED INFORMATION AND COMMUNICATIONS TECHNOLOGY FIRMS IN NIGERIA
No full textThis study seeks to examine the effect of capital structure on financial performance of the listed information and communications technology firms in Nigeria. This study adopted correlation and ex-post facto research design. The population of this study consists of all listed information and communications technology firms in Nigeria. Census sampling technique was employed. Multiple regression model based on pooled ordinary lease square, robust test was adopted in analyzing the panel data obtained from audited financial statement of the listed sampled information and communications technology firms for the periods of 10 years between (2013- 2022). The study reveals that both long term debt financing ratio short term debt financing, and debt to equity financing ratio have positive and significant influence on return on assets of the listed information and communications technology firms in Nigeria. On the other hand, equity financing ratio has a positive but insignificant effect on performance of listed information and communications technology companies in Nigeria. Therefore, it is recommended that the management of the listed information and communications technology firms in Nigeria should initiate coherent and integrated financial policies towards encouraging long-and short-term debt financing and debt to equity financing to ultimately improve the financial performance of the list information and communications technology firms in Nigeria
DOES ESG INVESTMENT IMPACT THE FINANCIAL SUSTAINABILITY OF NIGERIAN ENERGY COMPANIES: A PANEL REGRESSION APPROACH?
No full textThe destruction of around 5% to 10% of Nigerian mangrove ecosystems and the disappearance of approximately 7,400 square kilometres of rainforest have shifted managerial priorities in Nigeria's energy sector from purely financial gain to increased social responsibility. The rising concerns regarding climate change, environmental risks, social well-being, and sustainability have propelled ESG investment to the forefront of corporate sustainability considerations. The study delves into the influence of ESG investment on the financial sustainability of listed industry players in Nigeria's oil and gas industry. By utilizing quantitative data from sustainability and corporate annual reports of listed firms on the Nigeria Exchange Group from 2013 to 2023, a fixed pooled panel regression model was conducted to statistically test the three hypotheses anchored on the ESG nexus on financial sustainability. The findings indicate that the relationship between environmental investments, measured by environmental emissions, and return on assets (ROA) for the examined listed entities is insignificant. However, the research establishes a notable correlation between social investing practices, quantified by workforce size, and ROA, displaying a positive coefficient. Moreover, the study does not confirm a substantial impact of governance investing practices, measured by board size, on the ROA of the scrutinized corporations. The research acknowledged the impact of ESG on the financial sustainability of Nigeria’s energy sector. The research recommendations include integrating ESG factors into investment strategies, enhancing disclosure and transparency, improving risk management and resilience measures, and collaborating with policymakers
ACCOUNT RECEIVABLE MANAGEMENT AND FINANCIAL PERFORMANCE OF LISTED CONSUMER GOODS FIRMS IN NIGERIA
No full textThe study looks at the implications of account receivables management of quoted consumer goods firms’ financial performance in Nigeria. The study population is made up of the entire consumer goods firms listed in Nigeria. The total population stands at 23 consumer goods firms as at 31st December, 2022. A sample of 13 firms were arrived at by adopting a census sampling techniques by selecting only firms with complete financial information for a period of 2013 to 2022. The study employed a secondary data gathering strategy to obtain data from the annual report and accounts of selected firms. Data for the study were analysed with assistance of STATA 13 statistical software. The findings of the study reveals that average receivable turnover has negative insignificance impact on financial performance and average collection period, debt asset ratio, and current ratio have significant negative effect on return on equity. Based on its findings, the study concludes account receivables management to have negative significance effect on financial performance of listed consumer goods firms in Nigeria. The study also recommends that consumer goods firms listed should maintain low average collection period as high collection period might lead to lower financial 210 performance. This will be achieved by developing appropriate mechanism to encourage prompt payment by customers. Consumer goods firms listed should maintain an optimum debt assets ratio as too much debt might result to poor financial performance which ultimately leads to lower returns to shareholders on their capital investment in the company. Consumer goods firms listed in Nigeria should also maintain low current ratio as too much investment in current assets might lead to capital tight up on investment with lower return which might result in to poor financial performance