27 research outputs found
Transparency and Accountability in Public Financial Management: A Stewardship Account at Kano State Ministry of Finance, Nigeria
No full textThis paper aims at accounting for the transparency and accountability demonstrated through the unity and togetherness of the functionaries of the Ministry of Finance Kano State, Nigeria as they collectively discharge the five key responsibilities of the Ministry during a period of 28 months (June 2015 to October 2017) under the humble leadership of the author. The paper is skewed towards practical (as against theoretical) dispensation of effective public finance management at the sub-national level in Nigeria, covering revenue management, expenditure management, debt management, investment management and wealth creation and management. This exposure of transparency and accountability has attracted some encouraging comments from hundreds of concerned analysists and lovers of transparency and accountability from different parts of the world, out of which a select sampled comments have been captured in the paper. The paper also attempts some responses to the seven questions raised by one of the commentators (An International Public Financial Management Expert) in respect of the earlier internet posting made on the subject matter. The paper recommends that research students, scholars and practitioners should conduct further studies on the issues raised in the paper so as to find solutions to the weak nature of the practice of prudence, transparency and accountability in the public sector of developing economies, like Nigeria.</jats:p
Promoting the discipline of taxation for sustainable development in developing economies
No full textBehavioral Intention To Pay Zakah On Employment Income Among Academicians In Kano State, Nigeria
No full textThe institution of zakah is the cornerstone of the islamic economic system and the disbursement of the zakah fund in line with the Qur'anic injuction ensures equitable distribution and transfer of wealth from the rich espencially in realizing the goal of zakah in poverty rwduction. For instance, zakah on employment income is lergely neglected despite is juristic backing and changing economic structure that creates high professional income earners that from either upper midlle class or lower middle class the society. The objective of this paper is to explore the intetion of income earners to pay zakah on their employment income in Kano state as this will add to the zakatable sources. of the state zakah commission. The paper employed theory of reasoned Action to examine the behavioral intetion of 300 academics across kano state goverment owned tertiary educational institutions to pay zakah on their income. Structual equation modeling was used to analyze the data collected. The overall result shows that the respondents have favorable behavioral intetion towards payment of zakah on emploment income. Specifically, the positive effect to both attitudanal beliefs and subjective norm on the behavioral intetion is revealed Hence, the need to come up with a comprehensive policy that will boost zakah collection, consequently its distribution to reduce extreme poverty in the state
Time management in the life of a scholar
No full textTime management is a subject that concerns everybody: Male and female; rich and poor; young and old; leaders and followers; educated and uneducated; etc.It is a challenge that has to be faced squarely by everyone who is interested in accomplishing his/her tasks within the limited time available, and this time is equally endowed. This book is specifically focused on scholars, as role models for effective time management.These scholars could be at the primary school level, secondary school level, tertiary educational institutions (universities, polytechnics, colleges of education, etc.), research institutes/centers, etc.It is a challenge for them to lead other time users on effective management and utilization of time and also to go deep into research on various aspects of time management, so as to establish acceptable principles, models and theories on the subject matter.Although the book has the scholar in mind, other users of time in the various sectors of any economy would find this book very interesting and very useful.Good time management is the key factor to achieve so much more within the 24-hour-period endowed equally to mankind.
Over the 24 years of his working life in the University, the authors has come to realist that most scholars in educational system and those in other levels of the educational sector are not according time management the attentions it deserves.The required attentions are: (i) in respect of its effective management to achieve desire results; and (ii) in respect of promoting it an a subject of study at various levels.This book is an attempt to address these two issues
Investigating the Factors that Undermine Innovative Financing towards Sustainability of Entrepreneurship in Nigeria
No full textPurpose: The present study aims at exploring the factors that hinder employing innovative financing that can ensure the sustainability of entrepreneurship in Nigeria. The study also evaluates some aspects of entrepreneurial activity in the country.
Approach/Methodology/Design: Quantitative data were analyzed using descriptive statistics. The key variables under study were two possible factors that can facilitate the use of crowdfunding in southeast Nigeria. The selected themes explored were ‘weak regulatory environment’, ‘awareness of CF’, ‘attitudes and perception of people towards CF’, ‘social media options’, ‘level of education and Occupation’ of the population under investigation.
Findings: The general finding from this research is that no existing law has been developed to guard against the implementation of CF. Data seems to suggest that regulation is an important aspect of CF; therefore, the need for a legal framework is pertinent. The rapid expansion of crowd-based finance especially in developed countries should motivate Nigerians to engage in CF to finance entrepreneurs.
Practical Implications: There are so many constraints against entrepreneurship attaining its full capacity in Nigeria. An innovative means of raising funds through the internet in order to bring new ideas to life and promote existing ones is needed. The outcome of this research can serve as a template to be adopted by other Sub Saharan African countries that face similar situations like Nigeria.
Originality/value: To the best of our knowledge, not much has been done to empirically investigate an alternative innovating funding option known as crowdfunding. This research fills this gap
The Knowledge Economy: How Intellectual Capital Drives Financial Performance of Non-financial Service Firms in Nigeria
No full textThe study investigates the relationship between intellectual capital and financial performance of 58 listed non-financial service firms in Nigeria for a period of eleven years from 2012 to 2022.The study extracts data from annual reports and accounts of the listed non-financial service firms in Nigeria. The study aligns with correlational research design and positivism research philosophy. The modified Value-added intellectual coefficient (MVAIC) method is applied to measure the value-based intellectual performance of the sampled firms. Return on equity (ROE) and Tobin’s (TQ) are used to measure the financial performance of the firms. The intellectual capital (human and structural and relational capital) of selected firms has been analyzed and their impact on financial performance has been measured using the multiple regression technique. The findings of the analysis reveal that the relationships between intellectual capital and financial performance indicators, namely ROE and TQ, are varied. The study results suggest that intellectual capital influences the financial performance of Nigeria’s listed non-financial service firms. The study recommends that the board of directors of non-financial service firms in Nigeria should identify, protect and ensure effective utilization of intellectual capital in their companies in order to achieve long-term success and competitiveness. The study provides policy implications as the MVAIC method can be used as an important tool by decision-makers in the knowledge economy to integrate intellectual capital in the decision-making process.
Shareholders’ Dividend Preference in The Nigerian Capital Market
No full textAside from the fact that no legislation requires, as we believe, that management has a distinct fiduciary commitment to shareholders, no act prioritizes the shareholder. The management’s fiduciary duty is solely to the corporation. Investors, on the other hand, have a votive claim to the corporation’s residual value once all other obligations have been met. The aim of this survey was to empirically investigate the dividend preference of shareholders in the Nigerian capital market with specific reference to listed manufacturing firms in Nigeria. The study used the design of an investigation using questionnaires and interviews. The target population was 500 shareholders selected based on stratified random sampling out of 682,100 shareholders that is 0.07 percent of the total population. The snowball sampling technique was used to recruit potential respondents from among the shareholders’ acquaintances. The study used a final sample size of 300 respondents from the shareholders. The validity and reliability of the instrument were tested using factor analysis and a Cronbach’s alpha coefficient of 0.72 was obtained. The mean ranking showed that shareholders do have significant dividend preferences which favor cash dividends and support a bird in the hand is worth two in the bush explanation. Given that in practice, shareholders prefer companies with stable and predictable dividend payments, this study could be used to correct and predict the direction of a company’s dividend payments and that the stability of dividend payments change over time
Do Boards Determine Integrated Reporting in Nigerian Listed Oil and Gas Firms?
No full textPurpose: Integrated reporting is a process founded on integrated thinking, with the aim of issuing periodic integrated reports by firms about value creation over time. This study investigates the effect of board attributes (independence, diligence, and size) on the quality of integrated reporting of Nigerian listed oil and gas firms.
Design/Methodology: Panel data are obtained from annual reports of a purposive sample of 10 out of the 12 listed Oil and Gas firms in Nigeria from 2013 to 2017. These are analyzed using multiple regression techniques, via STATA 13.0 software.
Results: Based on the analysis conducted, findings show that the board independence and board size have a significant and positive effect, while board diligence has an insignificant and positive effect on the quality of integrated reporting, proxied by integrated reporting disclosure score (IRDSCORE). This outcome implies that having the optimum mix of members on the board influences the extent of integrated disclosures of listed oil and gas firms in Nigeria.
Practical Implications: Global corporate reporting is currently driving towards integrated thinking, incorporating financial, governance, social and environmental issues to promote long-term value creation. As a third world nation, the adoption of integrated reports is voluntary in Nigeria. However, considering the information needs of all stakeholders and appointing qualified persons on the board by shareholders, and formulating enabling policies in this direction by regulatory agencies would drive corporate reporting to be more integrative to drive long-term value maximization
Enterprise risk management practices among Malaysian firms
No full textEnterprise Risk Management (ERM) is fast becoming a fundamental concern in all industries.ERM is a holistic approach for managers to identify risks and select appropriate responses in line with enterprise’s risk appetite.This study aims to identify the level of ERM implementation among firms in different industries in Malaysia.Data were
gathered from 199 firms listed on the Malaysian Bursa through a questionnaire survey.The analysis shows that ERM implementation varies across different industries and that having an ERM framework in place is more common among firms in the infrastructure, hotel, and technology sectors
The extent of internal audit functions outsourcing by Nigerian deposit money banks
No full textThis study attempts to establish the extent to which internal audit functions (IAFs) are outsourced by the consolidated conventional banks in Nigeria, now addressed in the country as deposit money banks (DMBs).The extent to which the banks outsource each of the 15 identified functions traditionally attached to the internal audit unit/department is tested, using a structured questionnaire to elicit responses from the top and middle level management staffs of the banks.Bank’ management normally establishes and safeguards internal control system and internal audit system. Accordingly, heads of operations, branch managers, regional/area managers and internal auditors/controllers of all the 22 DMBs existing in Nigeria as at 31st July, 2013
are used as respondents.25 copies of the questionnaire are administered to the targeted respondents from each of the 22 banks, making a total of 550 copies. Of the copies returned, 435 (79%) are accepted for analysis. As the data are collected on an ordinal scale, non-parametric confirmatory analysis is employed.The study finds that all the 15 identified IAFs are being
outsourced by the Nigerian DMBs at varying degree (completely, partially, occasionally or rarely). It is also discovered that 6 IAFs stand out as those that are more outsourced than provided in-house by the Nigerian DMBs (going by the 50% and above scores they attracted from the respondents), and that the other 9 IAFs are more discharged in-house than outsourced to outside experts
