Malete Journal of Accounting and Finance
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ADVERTISEMENT AND CONSUMERS’ PATRONAGE: EVIDENCE FROM TABLE WATER BRANDS IN OSUN STATE, NIGERIA
Full text linkThis research examines advertisements and consumers’ patronage of selected table water brands in Osun State, Nigeria. The research concentrated on outdoor and radio advertising to appeal to consumer patronage. The study population was defined as infinite, and the sample size of 385 was estimated based on Cochran formula. Employing purposive sampling interest, data were gathered from 385 customers using structured questionnaires filled with close-ended questions. The study used multiple regression analysis. As for the outdoor advertising perception, the study established that the respondents had a low perception, with a mean of 2.92. The results of the regression analysis also showed that an overall impact on customer patronage was found to be 0.123 unstandardized Coefficient. This indicates that outdoor advertising, in particular, has a significant positive effect on customer patronage. This study also revealed that radio advertising has a higher positive perception, with a mean score of 4.13. In this study, the regression analysis indicated that radio advertising has a significant effect on customer patronage, as measured by an unstandardized coefficient of 0.043. This shows that radio advertising has a positive impact on customer patronage. The set of independent variables explained 87.2% of the total variation in customer patronage, indicating the usefulness of both types of advertising. The model was statistically significant, with a p-value of 0.000 and an F-value of 7.231. The research recommends that producers should ensure they employ multi-level advertising strategies, especially outdoor and radio advertising if customer patronage is to be improved
FIRM INNOVATIVENESS AND ENVIRONMENTAL DISCLOSURE: EVIDENCE FROM NIGERIAN MANUFACTURING FIRMS
Full text linkThe persistent increase in economic activities of companies, specifically manufacturing companies in Nigeria, has resulted in high levels of outputs, energy consumption, air pollution, and materials used. Environmental disclosures of these issues has become a major concern to communities, employees, shareholders, and other stakeholders and these difficulties drive this study. This study therefore, investigates the effect of the innovativeness and environmental disclosure of all listed manufacturing companies in Nigeria. Specifically, the paper investigates the extent at which firms’ complexity influences environmental disclosure, and how technological infrastructures affect environmental disclosure. With Ex-post factor research design and population of seventy-six (76) listed manufacturing companies, this paper employed Krejcie and Morgan (1970), while 63 companies formed the sample size. However, due to in availability of data and inconsistent listing of the companies, only forty-nine (49) out of the companies were chosen as the sample size determination table spanning across seven (7) sectors. Findings revealed that firms’ complexity and technological infrastructure have negative significant effect on environmental disclosure. Thus, this study recommends that Nigeria Exchange Group (NGX) should establish policy and penalties for companies that have not been adequate disclose information about their firms operating segment and new asset acquisitio
INSTITUTIONAL QUALITY AND FINANCIAL CRIMES IN WEST AFRICA
Full text linkThe high level of financial crimes in West African countries have negatively impacted upon the smooth functioning of institutions, thus leading to the disintegration of social structures, negative economic expansion, decline in both domestic and international investment, and a worsening of the state of law and order throughout the region. In the light of this, the study investigated the relationship between financial crime and institutional quality in West African nations. Two hypotheses were constructed to guide the inquiry using estimation panel data from Multiple Regression Analysis in 16 West African nations from 2013 to 2023. Basel Anti Money Laundering and the World Bank Governance Indicator were used to gather data for the study from secondary sources. Strong evidence of a negative regression coefficient between political stability and government performance in relation to financial crime is provided by the results, which show -0.387 and -1.938 with p-values of 0.021 and 0.001, respectively. The study concluded that poor quality of institutions has been contributing to higher crimes statistics in West Africa countries. Therefore, the study recommended that national governments should focus on improving the political stability and government effectiveness to reduce crime in West Africa countries
EFFECT OF TAX AUDIT ON GOVERNMENT REVENUE GENERATION IN LAGOS STATE
Full text linkThis study investigates the impact of tax audits on revenue generation in Lagos State, Nigeria, focusing specifically on the revenue from Pay-As-You-Earn (PAYE) and Direct Assessment (DA) over a 12-year period (2012-2023). Utilizing a longitudinal research design, data was sourced from the Lagos State Internal Revenue Service (LIRS) audit division. The methodology involved descriptive and inferential analysis, including ordinary least squares regression analysis, to explore the relationships between tax audits and revenue outcomes. Results indicate that tax audits positively and significantly influence both PAYE and DA revenues, with coefficients of 0.557 and 0.580, respectively. The study further highlights the significance of time as a variable influencing direct assessments, underscoring the cumulative effect of taxpayer compliance over years. The findings contribute to existing literature by elucidating the role of tax audits in enhancing revenue collection, providing valuable insights for tax authorities and policymakers. Recommendations for periodic tax audits to optimize revenue generation are offered, along with suggestions for future research to broaden the scope of inquiry in the field of taxatio
NATURAL RESOURCE ENDOWMENT AND ECONOMIC GROWTH: EVIDENCE FROM SOME SELECTED SUB-SAHARAN AFRICAN COUNTRIES
Full text linkSub-Saharan African (SSA) countries are on average blessed with relatively large number of natural resources when compared with other regions of the world. Despite this obvious natural resource endowment, economic growth on the sub-region has not been encouraging. This scenario has prompted studies geared towards examining the extent to which natural resource endowment has impacted on growth in resource rich Sub-Saharan African countries. The objective of this study is therefore to investigate the nexus between ownership of natural resources by some selected SSA countries and their performance in terms of growth. Seven countries in SSA were selected including, Cameroon, Cote d’Ivoire, Gambia, Ghana, Kenya, Nigeria, and South Africa. Data on economic growth, arable land, forest land rent, tertiary education enrolment, and labour force growth obtained from World Development Indictors of the World Bank were used. Using the Pedroni Panel cointegration estimation, result showed that overall, natural resource endowment does not translate to growth as is expected. Hence it is concluded that ownership of natural resources does not translate to growth in SSA. Although high rent on these resources increases government revenue in the immediate, the disincentive it creates to investors and cultivators of these resources in the long run should be the uppermost consideration The study therefore recommends that while authorities are formulating and implementing policies as regards rent on natural resources, they should carefully bear in mind the possible long-run implications on growth
GOVERNMENT EXPENDITURE: A CATALYST FOR ECONOMIC GROWTH IN NIGERIA
Full text linkIn the quest to unravel the intricate dynamics shaping Nigeria\u27s economic trajectory, this study delvesinto the relationship between capital expenditure and economic growth over a three-decade period,spanning from 1992 to 2021. The ex-post facto research design was adopted, using historical dataextracted from Central Bank of Nigeria (CBN) statistical bulletins. Augmented Dickey Fuller (ADF)unit root test was carried out to test for the stability of data. Co-integration test was done with Johansenand Engle-Granger methods. Findings showed that, when lagged by one year, government expenditureon education has a positive and insignificant relationship with gross domestic product. Whilegovernment expenditure on healthcare has a positive and significant relationship with the grossdomestic product; government expenditure on transportation has a negative and insignificantrelationship with the gross domestic product; and government expenditure on agriculture has a negativeand significant relationship with the gross domestic product. The study concluded that budgetaryallocation and implementation of expenditure on education, transport, and agriculture were notproperly allocated and utilized to improve the nation’s productive capacity. The study suggested thatthe allocation and execution of budget to the identified critical sectors should be more done carefullyfor accelerated economic growth
HISTORICO-LEGAL AND SOCIOCULTURAL CAUSES AND THE IMPLICATIONS OF PEASANTS’ REVOLT AGAINST TAXATION IN IBADAN, WESTERN NIGERIA
Full text linkThe expectation that the Nigerian elites who were vested with political power at independence in 1960would improve the lives of the populace appeared to be misplaced, because the nascent Nigerian statebounced from one avoidable social conflict to the other. One of the avoidable problems was the ill-conceivedincrease in the tax rate of the peasants by the Government of Western Nigeria in a period of economicdepression. This article examines the reasons for the resistance to taxation, the legal and extra-legal waysby which the peasants were able to engage the military administration of Western Nigeria, albeit theNigerian state laws enforcement machinery to a standstill, using the case study method. The article foundthat there were certain demographic similarities among the leaders of the agitation by a review of theexisting literature. The rebellious peasants had their own legal order and communication system rooted inthe Yoruba indigenous system. The article concluded that the violent agitation of the peasants beganbecause of the refusal of the authority and the ruling elites to heed the pleas of the peasants through petitionsand peaceful representations. The article therefore recommended that there is a need for the stateauthorities to understand the plights of the citizenry before imposing higher tax burden on them. Similarly,the different levels of governments in the Nigerian federation should learn from this experience in theformulation of current and future tax policies. Further, the Nigerian state’s resort to violence in this casewas defeated in the face of popular revolt
EFFECT OF E-GOVERNANCE POLICY ON SECURITY IN NIGERIA
Full text linkSecurity is a fundamental pillar for the stability and development of societies worldwide. EGovernancepolicy, which involves the use of digital tools and technologies in governmentoperations, has emerged as a critical strategy for addressing modern security challenges. Thisstudy investigates the effect of E-Governance policy on security in Nigeria. The sample wasdrawn from 806 personnel of the Police Intelligence Department (FID), comprising theIntelligence Response Team (IRT) and Special Tactical Squad (STS) located at the forceheadquarters in FCT, Abuja. Multiple regression analysis and descriptive statistics wereemployed to achieve the study’s objectives. The major findings reveal that digital incidencereporting systems (DIRS) have a significant positive relationship with security; digital forensictools (DFT) have a significant positive relationship with security; and CCTV surveillancesystems have a significant positive relationship with security. The study concludes that if theNigerian government focuses on providing digital incidence reporting systems, digital forensictools, and CCTV surveillance systems, it will lead to an improved security situation in thecountry. It is recommended that the government at all levels allocate sufficient resources for theprocurement, maintenance, and upgrade of these digital tools and systems. Additionally, thestudy recommends that the Nigerian government partner with international organizations andexperts to provide specialized training and certification programs for Nigerian securitypersonnel. Furthermore, the government should establish continuous monitoring and evaluationmechanisms to assess the performance and impact of digital incidence reporting systems, digitalforensic tools, and CCTV surveillance
EFFECT OF WORKING CAPITAL MANAGEMENT ON FIRM’S VALUE: EVIDENCE FROM LISTED PHARMACEUTICAL FIRMS IN NIGERIA
Full text linkEffective working capital management is crucial for the success and sustainability of listed pharmaceutical firms in Nigeria. The study examined the working capital management on firm’s value: evidence from listed pharmaceutical firms in Nigeria. The specific objectives are to determine the effect of average collection period (ACP), average payment period (APP), cash conversion cycle (CCC) and inventory conversion period (ICP) on value of listed manufacturing firms in Nigeria. This study adopted an ex-post facto research design. The population of this study consists of all listed pharmaceutical companies on the floor of the Nigeria Exchange Group as at31st December, 2021. There are eleven (11) listed pharmaceutical companies in Nigeria. Due to unavailability of data five (5) companies are used for the sample size of this study. The data obtained were analyzed using descriptive techniques such as minimum, maximum, mean, and standard deviation and inferential techniques such as correlation and regression analysis. The study revealed that average collection period (ACP), average payment period (APP), cash conversion cycle (CCC) and inventory conversion period (ICP) have significant effect on value of listed manufacturing firms in Nigeria. The study conclude that the working capital managementhas significant effect on firm’s value of listed pharmaceutical firm. This study recommends regularly review and adjust working capital management strategies to ensure alignment with changing business needs and invest in financial technology and automation to streamline working capital management processes. It also recommends that implement efficient accounts receivable management to reduce average collection period and negotiate with suppliers to extend payment terms and reduce average payment period
BOARD INDEPENDENCE, AUDIT QUALITY AND EARNINGS MANAGEMENT AMONG LISTED NON-FINANCIAL COMPANIES IN NIGERIA
Full text linkDriven by agency disputes on real earnings management and board characteristics, this study examines the relationship between board independence, audit quality and earnings management. Using the information of quoted service firms on the Nigerian Exchange Group. The analysis of the data was conducted using multiple regression analysis, utilising a sample of 160 observations from Nigeria, an emerging market spanning from 2014 to 2023. Our results demonstrate that board independence does not mitigate real earnings management. However, we find that Big4 auditor reduces real earnings management and improves the quality of financial reporting. These results show that for a percentage increase of independent directors, the smoothening of earnings decreases while a significant number of services do not engage Big4 auditors in reporting the quality of their financial statements. Especially in a setting where the capital market is still in the process of developing and where legal protection and law enforcement are lacking, the findings of this research could prove to be beneficial to regulators in their efforts to limit the occurrence of earnings management and to enhance financial reporting quality