International Journal of Accounting, Management, and Economic Review
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GENDER DIVERSITY AND INTELLECTUAL CAPITAL EFFICIENCY OF LISTED MANUFACTURING FIRMS IN NIGERIA
Get PDFGender diversity has emerged as a strategic human-capital lever capable of shaping firms’ knowledge productivity and value-creation outcomes. This study investigates how gender-balanced board and managerial structures influence intellectual capital efficiency among listed manufacturing firms in Nigeria’s evolving industrial landscape from 2013 to 2022. This study adopts an ex-post facto research design, with a population of 66 manufacturing firms listed in the Nigerian Exchange Group as of 2012 and has not been delisted as of 31st December 2021, and 17 firms were selected through a purposive sampling technique. The ICE measurements derive from the Modified Value-Added Intellectual Coefficient (MVAIC) model. Research findings indicate that;combined explanatory variable accounted for approximately 30% (R2 = 0.2297) of the variation in ICE,asFemale Chairperson (FC) is weakly and positively significant with ICE (β = 3.447, p = 0.065);female audit committee members (Fa) demonstrated a significant negative relationship with ICE (β = -8.645, p = 0.006);Female Directors (FD) had a negative but weak effect on ICE (β = -14.061, p = 0.055) and female CEO had a significant negative effect on intellectual capital effectiveness (ICE) (β = -8.457, p = 0.003). firm size has positive significant control effect (β=6.037,p=0.005) as firm age had negative but significant control effect on ICE (β=-0.481,p=0.000).In conclusion, this study reveals that female leadership positions at the head of manufacturing firms in Nigeria display weak positive relations toward ICE. The study recommends, among other things, that firms should entrench policies to make females more effective in leadership
AN EMPIRICAL ANALYSIS OF FINANCIAL TECHNOLOGY ON INCOME VELOCITY IN NIGERIA (2009-2024)
Get PDFFinancial technology is crucial for the development of emerging economies. It advances income velocity and supports economic growth. There is a lack of comprehensive empirical studies that assess the dynamic impact of financial technology on the income velocity in Nigeria, despite the rapid expansion of digital payment systems and fintech adoption in Nigeria. The time frame for this study was from 2009 to 2024. The study employed a historical research design. Stationarity tests were carried out, and the autoregressive distributed lag (ARDL) model was applied. Key findings were Nigerian Interbank Settlement System (NISS) had a positive, significant long-term effect on Income velocity (INC) but an adverse, insignificant short-term effect. Mobil banking’s (MOB\u27s) effect on INC was positive but insignificant in both the long run and short run. Point of Sale (POS) showed no significant impact in the long run or the short run. Internet banking (INT) showed an insignificant increase in INC in the long run and the short run. An increase in financial technology led to a decrease in income velocity in the long and short run implies a limited impact of the digital payment system reduced economic activity, cash hoardings, limited financial inclusion, monetary policy challenges, inadequate infrastructure, and increased savings by individuals. In the short run, the policy implication is to encourage spending and investment, possibly through targeted fiscal policies or incentives for digital transactions. In the long run, Nigeria should focus on addressing underlying economic issues, promoting financial inclusion, and diversifying the economy to boost money circulation
THE COMMODITY PROBLEM: A COMPARATIVE ANALYSIS OF THE RESPONSES OF NIGERIA, THE UNITED STATES, THE EUROPEAN UNION, AND JAPAN
Get PDFThis paper compares the policy approaches of Nigeria, the United States, the European Union, and Japan to the commodity problem using a mix of theoretical, empirical, and asymmetrical power analysis. The paper established that Nigeria’s only systematic approach to dealing with the commodity problem was through commodity marketing boards, first established in 1947 by the colonial government. The regional self-ruling governments used the marketing boards to finance endogenous economic development plans from 1954 to 1960. However, under pressure from a coalition of self-interested and ideologically biased critics, the Nigerian government dissolved the Nigerian Commodity Marketing Board in 1986. The dissolution did not solve the problems facing Nigerian farmers and the agricultural sector. Rather, the dissolution made the farmers and Nigerian agriculture vulnerable to international middlemen to exploited Nigerian farmers. It also provided a set of multilateral and bilateral lenders with Neo-Berlin agendas to balkanize the public space, expand their influence, loan portfolio, and profits after 1986. In contrast, the US, EU, and Japan strengthened institutional, organizational, and financial support for their farmers, and prioritized domestic protection and interests over concluding the Doha Development Round
EFFECT OF BOARD COMPOSITION AND OWNERSHIP CONCENTRATION ON EARNINGS QUALITY OF QUOTED CONSUMERS GOODS COMPANIES IN NIGERIA
Get PDFSeparation of control gives rise to managers’ right to control and use accounting estimates and techniques that can increase shareholders’ wealth. This has become more relevant in recent years as more firms are listed on the flow of Nigerian stock exchanges as public companies. The study examines the influence of board composition and ownership concentration on the quality of earnings of quoted consumer goods companies in Nigeria using a panel dataset of publicly listed companies over ten years. The study reveals that ownership concentration and board size of the explanatory variables are statistically and significantly influencing the explained variable, earnings quality at 1% and 5% level of significance, respectively. On the other hand, board independent directors and firm size have an insignificant impact on the earnings quality. It is, therefore, concluded that ownership concentration and board size are good variables that impact earnings quality. The study, therefore, recommends, among others, that the management of listed consumer goods companies in Nigeria should recognize board size and block holders when selecting the accounting method to be used, which will indicate the future performance of the company in the flow of earnings reporting
PROSPECTS OF FINTECH IN TAKAFUL OPERATIONS IN NIGERIA
Get PDFThis paper critically examines the prospects of financial technology (fintech) integration within Takaful operations in Nigeria, a context characterized by low insurance penetration, significant unbanked populations, and an evolving regulatory landscape. Through a systematic and interdisciplinary conceptual analysis grounded in Islamic finance principles and innovation diffusion theory, the study synthesizes contemporary scholarship, industry reports, and regulatory frameworks to articulate a holistic framework for fintech-enabled Takaful models. The proposed framework delineates the transformative potential of mobile platforms, artificial intelligence, blockchain, and RegTech in enhancing financial inclusion, operational efficiency, trust, and Shariah-compliant governance within Nigerian Takaful. Furthermore, this paper highlights critical systemic challenges, including infrastructural deficits, digital literacy gaps, and regulatory ambiguities, which may impede fintech adoption. By situating the discourse at the intersection of technological innovation and Islamic ethical finance, the study contributes to the burgeoning literature on Islamic fintech and offers actionable insights for policymakers, practitioners, and scholars aiming to foster sustainable, inclusive, and transparent Takaful ecosystems in emerging markets. The findings underscore the imperative for collaborative multi-stakeholder engagement to realize fintech’s full potential in advancing Islamic insurance paradigms within Nigeria and beyond
VALUE RELEVANCE OF RISK DISCLOSURE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA
Get PDFThis study investigates the value relevance of risk disclosures among listed deposit money banks in Nigeria. The population consists of 12 deposit money banks quoted on the Nigeria Exchange Group as at 31st December, 2023. Data collected were sourced from the annual reports of the banks from 2009 to 2022. Panel data collected were analyzed using descriptive statistics, and regression analysis. The analysis reveals that credit, liquidity, loan default, foreign exchange and interest rate risks have insignificant effects on share prices, but the effects are positive for liquidity and loan default risks, and negative for credit, foreign exchange and interest rate risks. However, earnings per share, book value per share, and firm size are significant predictors of the listed banks’ share prices. The study concludes that share prices of listed banks in Nigeria are influenced by accounting information and size of the banks rather than its risk information disclosure. The policy implication is that management of listed banks should pay attention to accounting policies and standards that form bases for determining accounting information issued by the banks rather than risk information disclosures. The findings also have implications for the investors, stock market regulators and other players.  
AN EMPIRICAL ANALYSIS OF THE IMPACT OF INTEREST RATE AND INFLATION ON STOCK MARKET PERFORMANCE IN NIGERIA
Get PDFThis study examines how interest rate and inflation influence stock market performance in Nigeria, with the All-Share Index (ASI) serving as the proxy for aggregate market activity. Quarterly data spanning 2003Q1–2024Q4 were analyzed using the Autoregressive Distributed Lag (ARDL) bounds-testing approach, which allows for the estimation of both short-run and long-run dynamics. Diagnostic and stability checks confirmed that the model is statistically robust. The results indicate a long-term equilibrium relationship among ASI, interest rate, inflation, and exchange rate. Specifically, a 1% rise in the interest rate and inflation lowers the ASI by approximately 2.19% and 0.76%, respectively, whereas a 1% depreciation in the exchange rate improves market performance by about 1.36%. The error-correction coefficient (−0.1635) suggests that roughly 16% of short-run disequilibrium is corrected each quarter, reflecting a gradual reversion to equilibrium. The results are consistent with predictions from Fisher Effect and the Arbitrage Pricing Theory (APT), both of which posit that monetary factors exert substantial influence on asset valuation through real return adjustments. It is therefore recommended that monetary authorities pursue a balanced approach between inflation control and interest-rate management to ensure the stability and efficiency of Nigeria’s capital market
EFFECTS OF BUDGET PREPARATION AND PROCESS ON ACCOUNTABILITY: EVIDENCE FROM SELECTED PUBLIC SECTOR ENTITIES IN NIGERIA
Get PDFThis study investigates the effect of budget preparation and processes on the accountability of public sector entities in Nigeria, with specific attention to federal ministries, departments, and agencies (MDAs). The study adopted a cross-sectional survey design targeting senior officials directly involved in budget processes across 29 federal ministries and 159 agencies. Using stratified random sampling, a total of 311 valid responses were obtained. The data was analyzed using Ordered Logistic Regression and Ordinary Least Squares (OLS) to assess the influence of budget preparation components on various dimensions of accountability in the MDAs. The findings indicate that Budget Preparation and Review (β = 0.228, t = 2.09, p = 0.037) and Budget Hearings and Defenses (β = 0.236, t = 2.32, p = 0.021) positively and significantly enhance accountability, whereas Budget Policy Formulation and Call Circulars (β = 0.008, t = 0.09, p = 0.931) and Budget Approval and Adoption (β = 0.006, t = 0.06, p = 0.951) have no significant effect. The study concludes that effective budget preparation, review, and defense significantly enhance accountability in Nigerian public sector entities, whereas policy formulation and formal approval have minimal impact.The study recommends that the Budget Office of the Federation and State Ministries of Budget and Planning, should promote early-stage budget planning through realistic revenue projections and clear policy guidelines, while also fostering stakeholder inclusiveness during policy formulation to enhance transparency and ownership
DETERMINANTS OF DEBT FINANCING TO SMALL FIRMS IN JOS-NORTH LOCAL GOVERNMENT AREA OF PLATEAU STATE, NIGERIA
Get PDFAccess to debt financing remains a major constraint for small firms in developing economies, particularly those operating outside formal regulatory classifications. This study examines the determinants of debt financing among small firms in Jos-North Local Government Area of Plateau State, Nigeria, focusing on firm size, firm age, entrepreneur age, gender, and business location. Primary data were collected through a structured questionnaire using delivery-and-collection, wait-and-retrieve, and researcher-administered methods, and the analysis was conducted using quantile regression to capture variations across different levels of debt access. The findings show that at the lower quantile (τ 0.25), firm age and entrepreneur age have significant positive effects on debt financing, while firm size, gender, and business location are insignificant. At the median quantile (τ = 0.50), firm age and entrepreneur age remain the only significant positive determinants. At the upper quantile (τ = 0.75), firm size emerges as the sole significant predictor of debt financing, indicating that scale becomes relevant only at higher levels of access. Gender and business location are consistently insignificant across all quantiles. The results highlight the heterogeneous nature of debt financing determinants among small firms and demonstrate the relevance of quantile-based analysis for understanding financing dynamics in small business contexts
AUDIT COMMITTEE ATTRIBUTES AND TIMELINESS OF FINANCIAL REPORTS OF LISTED NON-FINANCIAL FIRMS IN NIGERIA
Get PDFThis study examines the effect of audit committee attributes on the timeliness of financial reports of listed non-financial firms in Nigeria. Purposive sampling technique was used to arrive at forty-two firms over thirteen years (from 2010-2022). Truncated negative binomial poisson regression was adopted as it best handles count data. The study found that listed non-financial firms in Nigeria do not comply with the ninety-day requirement of the SEC. Also, audit committee size and audit committee meeting have a negative and significant impact on the timeliness of financial reports at the 5% and 1% level of significance, respectively. The study also found that audit committee independence has an inverse but insignificant relationship with the timeliness of financial reports. The study recommends that all listed non-financial firms in Nigeria comply fully with the stipulations of CAMA with regards to the involvement of independent directors, the size and frequency of meetings of the audit committee