Malete Journal of Accounting and Finance
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FINANCIAL SUPPORT AND COMPETITIVE ADVANTAGE OF SELECTED FINANCIAL TECHNOLOGY FIRMS IN LAGOS STATE, NIGERIA
Full text linkThe competitive landscape of financial technology (fintech) industry in Nigerian is challenged byseveral factors such as underserved consumer needs, as well as funding shrinkage occasioned byglobal investment decline. This recoil necessitates a deep understanding of the factors that affectstheir competitive advantage. This study thus investigates the impact of financial support, a businessincubation strategy on competitive advantage of fintech firms in Lagos State, Nigeria. This studyadopts a survey research design to collect primary data from a population of 200 owners/managersof registered fintech firms in Lagos State, Nigeria. Total enumeration was used to determine thesample size of 200 owner/managers. Data was collected using an adapted and close endedquestionnaire and a response rate of 73% (146) was obtained. The validity and reliability of theresearch instrument was established using Average Variance Extracted, Composite Reliability, andCronbach’s alpha coefficients, thus ensuring its accuracy and consistency. Descriptive statisticsand inferential statistics were utilised to analyse the data. The findings of the study revealed thatfinancial support does not exhibit a significant effect on competitive advantage (β = 0.067, R2=0.028, p > 0.05) fintech firms in Lagos State, Nigeria. Based on the conducted investigation, it isclear that the impact of financial support alone on competitive advantage in fintech enterprisesmay not be statistically significant. The study therefore recommends that fintech companies inLagos State, Nigeria should pay attention to other factors not limited to financial support, to helpmeet the growing consumer needs and build their competitive advantag
MODERATING EFFECT OF RISK MANAGEMENT COMMITTEE ON BOARD ATTRIBUTES AND FIRM SURVIVAL AMONG LISTED MANUFACTURING COMPANIES IN NIGERIA
Full text linkThe ability of a firm to endure, adapt and prosper over time is a multifaceted outcome influenced by an interplay of internal and external factors. However, the precise mechanisms and specific dynamics that contribute to sustained firm survival remain unclear. This study investigated the moderating effect of risk management committee on the relationship between board attributes and firm survival among listed manufacturing companies in Nigeria. The study utilized secondary data obtained from a sample of 34 manufacturing companies listed on the Nigerian Exchange Group during the period from 2011-2022. The data were analysed using Generalized Least Square. Findings indicate that board independence, board size and board expertise were statistically associated with firm survival, while board gender diversity has an insignificant impact on firm survival. The risk management committee on the other hand was found to exert no significant moderating influence on the relationship between board attributes and firm survival. The study concluded that board attributes are vital governance mechanisms capable of enhancing firm survival. It therefore recommended that shareholders of listed manufacturing companies in Nigeria should focus on optimal board size and should prioritize directors with requisite expertise rather than independence
ENTREPRENEURSHIP DEVELOPMENT ON THE ECONOMIC GROWTH OF DEKINA LOCAL GOVERNMENT OF KOGI STATE
Full text linkThere is a need for the government to provide business development programs, tax incentives andcreate an enabling environment for entrepreneurship to thrive. The study assessed how DekinaLocal Government Area\u27s economic growth was impacted by entrepreneurial development. Thestudy\u27s goal is to determine how the Dekina Local Government Area\u27s ability to take risks, becreative, and be proactive has affected its economic progress. Survey research was the methodused in the study. Six thousand seven hundred and four people made up the population [6,704]. Abasic random sample strategy is used in the study to choose 377 SMEDAN participants. ANOVAand the ordinary least square (OLS) model of regression analysis were constructed using datafrom surveys administered. SPSS version 20.0 was then used to evaluate the results. According tothe study, in Dekina LGA, Kogi, taking risks has a major and beneficial impact on economicgrowth. Innovativeness also has a substantial impact on growth, as does proactively. The studysuggested that Kogi State\u27s SMEs should promote a culture of risk assessment and awareness.Although taking risks is necessary for progress, it\u27s also critical to carefully consider all availableoptions and make well-informed decisions
ASSESSING THE DETERMINANTS OF PRIVATE WASTE COLLECTORS’ OPERATIONAL EFFICIENCY AND ITS EFFECT ON REVENUE: A CASE STUDY OF LAGOS WASTE MANAGEMENT SECTOR
Full text linkPrivate waste collection firms play vital role in the realization of waste-related environmental goals of achieving clean environment and reduced solid waste pollution. However, little is known on such firms’ efficiency and its effect on firms’ revenue. Empirical research on the role of such firms’ operational efficiency in boosting financial performance is sparse in waste management logistic operations literature. This study analyzes the factors determining the efficiency of such private firms and its effect on their financial performance. Using secondary data obtained from the Lagos Waste Management Authority (LAWMA) for 260 Private Sector Participants (PSPs), Structural Equation Modeling (SEM) procedure was adopted to analyze the theoretically justified model specified. Relying on SEM’s capacity to address endogeneity in cross-section data, the study avoided the possibility of repeating the confounding effects in previous studies, lending more reliability to estimated parameters and conclusions. The analysis reveals that trip frequency, firm capacity, and firm experience significantly influence operational efficiency. The model’s diagnostics indicate the model has high explanatory power, lending more reliability to the estimated parameters. The study concludes that operational efficiency, achievable through enhancing trip frequency, firms’ capacity, and firms’ experience are sine qua non to enhancing the revenue generation of private waste logistics firms in the waste management sector. Thus, the study recommends the government and regulatory authorities to target policies that would aid firms’ expansion, and workers’ trainings to bridge experience gaps in the industry
DIGITALIZED ACCOUNTING PRACTICES AND ACCOUNTABILITY OF MDAs IN NIGERIA: MODERATING EFFECT OF INSTITUTIONAL QUALITY
Full text linkThe public sector has long struggled with issues such as inefficiency, lack of transparency, and widespread corruption. In Nigeria, government agencies are increasingly adopting digitalized accounting practices to enhance efficiency and reduce corruption. However, the impact of institutional quality on the effectiveness of these practices in ensuring accountability in the public sector remains unclear. This study therefore, examines the moderating effect of institutional quality on the relationship between digitalized accounting practice and accountability of Ministries, Departments, and Agencies (MDAs) in Nigeria. Utilizing a survey research design, data were collected from 233 auditors across various ranks within the Office of the Auditor-General of the Federation. Structural equation modeling (SEM) was used to assess the individual and joint moderating effects of institutional quality. The results indicate that institutional quality significantly moderates the relationship between digital accounting practices and accountability in MDAs. Specifically, the interaction of institutional quality with digital tax administration (p = 0.012), digital treasury management (p < 0.001), and digital financial management (p< 0.001) demonstrated a positive significant effect on accountability. However, the joint moderating effect of institutional quality was marginally significant (p = 0.057). The study concludes that institutional quality significantly influences the relationship between specific components of digitalized accounting practices and accountability. It recommends among others that the National Assembly develops comprehensive regulatory frameworks that support digital innovations and provides standards for their implementation, including guidelines for integrating digital accounting systems into existing processes to ensure consistency and reliability
ELECTRONIC TAXATION AND TAX COMPLIANCE AMONG SMES IN KOGI STATE
Full text linkTaxpayers’ compliance plays a critical role in tax revenue generation. The study examined how perceived ease of use moderates the effect of electronic taxation on tax compliance among small and medium scale enterprises in Kogi State. Population of the study comprised the owners of all registered small and medium scale enterprises (SMEs) in Kogi State, out of which forty (40) SMEs owners were selected to form sample size using accidental/convenient sampling method. The data were collected through structured questionnaires administered on the selected SMEs owners. Using multiple regression analysis, at 5% level of significance, the study found that the effect of electronic tax registration on tax compliance is negatively negligible and insignificant. Meanwhile, it was established that the effect of electronic tax filing and electronic tax payment on tax compliance is positive and significant to some extent. Moreover, it was observed that perceived ease of use does not significantly moderate the effect of electronic tax registration, electronic tax filing and electronic tax payment on tax compliance among the sampled SMEs. It is concluded that electronic tax registration does not significantly affect tax compliance, whereas electronic tax filing and electronic tax payment have positive and significant effect on tax compliance. Therefore, it is recommended that tax authorities should create more awareness about the electronic tax services available and educate taxpayers on the benefits of e-tax system
AUDIT ATTRIBUTES AND FINANCIAL REPORTING QUALITY OF NIGERIAN DEPOSIT MONEY BANKS: THE MODERATING EFFECT OF GOING CONCERN
Full text linkThe moderating effect of going concern on the influence of audit attributes on the financialreporting quality of listed Nigerian banks was examined in this study. An ex-post facto researchdesign was employed on a population consisting of 23 banks. 13 banks were purposively selectedfor a period 10 years ranging from 2013-2022. Data used for this study was analyzed usingdescriptive statistics and structural equation modeling. Audit attributes was proxy with audit fees,audit specialization, audit independence, and audit size while financial reporting quality wasmeasured with discretionary accrual. Going concern was used as the moderating variable.Auditors’ opinion was used to measure going concern. The outcome of the analysis discoveredthat going concern (β = 0.878, p > 0.634) at 5% level of significance has a positive but insignificanteffect on financial reporting quality whereas going concern (β = 0.052, p < 0.028) at 5% level ofsignificance has a positive and significant effect on audit attributes of deposit money banks inNigeria. Also, all the audit attributes used in this study have a positive and significant effect onfinancial reporting quality except for audit specialization which has an insignificant relationshipwith financial reporting quality. The study concluded that audit attributes have a significant effecton financial reporting quality and that going concern has a moderating effect on audit attributesand financial reporting quality. The study recommends that banks should ensure that their goingconcern ability is being assessed by the external auditor to guarantee the survival of the banks andgain the trust of the investors and shareholders
STRATEGIC MANAGEMENT CONTROLS AND OPERATIONAL PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN SOUTH-WEST NIGERIA
Full text linkSmall and Medium Enterprises (SMEs) in South-West Nigeria often face performance challengesdue to inadequate strategic formulation, ineffective implementation, and insufficient evaluation,leading to resource underutilization and growth obstacles. This study investigated the impact ofstrategic management controls on SMEs\u27 operational performance in the region. This studyadopted a quantitative survey research design and collected primary data from 399 SMEs inSouth-West, Nigeria, selected through stratified random sampling. Partial Least SquaresStructural Equation Modeling was used for data analysis. The findings revealed a significantpositive relationship between strategic planning and operational performance (β = 0.233, p =0.010), indicating the importance of strategic planning in enhancing performance. Additionally,strategic planning had a substantial impact on operational performance (β = 0.373, p = 0.000),demonstrating its effectiveness in driving improvements. Strategic evaluation also had a positiveand significant influence on operational performance (β = 0.243, p = 0.000), highlighting its rolein performance enhancement. The study concluded that strategic management controls are strongpredictors of SMEs\u27 operational performance. The study recommended that SMEs focus onimproving their strategic planning processes and invest in robust evaluation processes to assessthe effectiveness of implemented strategies and make informed decisions for future endeavors
CORPORATE BOARD SIZE AND CORPORATE SOCIAL RESPONSIBILITY DISCLOSURE AMONG LISTED INDUSTRIAL GOODS COMPANIES IN NIGERIA
Full text linkThe failure of the board of directors to effectively manage a company\u27s disclosure of CSR can significantly damage its reputation. Therefore, this study examines the influence of board size on corporate social responsibility disclosure (CSRD) among listed industrial goods companies in Nigeria. Ex post facto research design was used. Purposive sampling technique was used to select sample size of eleven (11) quoted industrial goods companies out of study’s population of 13 quoted firms. Secondary data were extracted from annual accounts of sampled 11 companies from 2011-2021. The study utilized panel estimation regression methods to analyze the data. The results indicated that board size had a positive and significant effect on CSR disclosure (coeff.= 0.0154, p-v =0.0260), suggesting that a diverse board with more expertise, qualities, and core competence can enhance monitoring and supervision, thereby improving the quality of CSR. The study\u27s concluded that corporate boards can effectively encourage listed industrial products companies in Nigeria to disclose their CSR practices. The study also recommends that industrial products companies should maintain an effective board size to oversee management and ensure that all actions align with the company\u27s objectives
CLOUD COMPUTING AND FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
Full text linkThe financial performance challenges encountered by Nigerian deposit money banks highlight the necessity for innovative solutions. The inefficiencies of conventional banking systems and elevated operating costs call for a transition to technology-driven strategies that can enhance profitability and sustainability. Cloud computing offers a promising solution to these issues, providing a flexible, scalable, and cost-effective alternative to traditional IT infrastructure. This study examines the impact of cloud computing technologies on the corporate performance of listed deposit money banks in Nigeria, focusing on Return on Assets (ROA) as the primary measure of performance. The analysis includes variables such as Automated Chatbot Banking Services (ACBS), Deep Learning Machine in Credit Risk Assessment (DLM), Machine Learning Solutions (MLS), and Return on Asset (ROA). The study utilizes panel EGLS (Cross-section weights) regression analysis to analyze data from a sample of ten (10) listed deposit money banks in Nigeria over a specified period. The results reveal that while ACBS, DLM, and MLS have statistically insignificant impacts on ROA, Firm Size (FSZ) shows a significant negative relationship with ROA. Specifically, the coefficient value and probability for each variable are as follows: ACBS (Coefficient = 0.005605, Probability = 0.7065), DLM (Coefficient = -0.001099, Probability = 0.9507), MLS (Coefficient = 0.007189, Probability = 0.7268), and FSZ (Coefficient = -0.116778, Probability = 0.0000). The study concludes that while cloud computing technologies hold potential for operational improvements, their current utilization does not significantly impact the financial performance of Nigerian deposit money banks as measured by ROA. The significant negative impact of firm size on ROA suggests that larger banks may encounter greater operational challenges that outweigh the potential benefits of cloud computing technologies