2021 Archive
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Title: COST BENEFIT ANALYSIS AND QUALITY AND DURABLE PROJECTS EXECUTION IN THE NIGERIAN PUBLIC SECTOR.pdf Author: DESI, AUGUSTINE AND AJIBADE, AYODEJI T. Abstract: Abstract This study carried out an investigation of the effect of cost benefit analysis on quality and durable projects in Nigeria. The primary data used was sourced from a structured questionnaire administered to some chosen respondents. The total of 545 senior public servants in Bayelsa State who were active and in strategic positions were considered for this study and 85% of the administered questionnaires were retrieved from the respondents. A pretest study was carried out using online administered copies of questionnaire which are thirty-five in number. The collected data was coded into the IBM Statistical Package for Service Solution (IBM SPSS) and Cronbach’s Alpha coefficient obtained for all the variables was found to be above the acceptable limit of 0.7. The study found that cost benefit analysis also revealed a positive significant effect on quality and durable project, AdjR2 = 0.398; F-Statistics (4, 179) = 31.199; P-value = 0.000. The government is advised to ensure strict compliance of project execution laid procedures, and those found to contravene any of these policies be made to be prosecuted accordingly. Keywords: Cost benefits analysis, Durability projects, Government contractors, Projects execution, Project economic value, Quality projects. View |
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Title: AUDIT QUALITY AND EARNINGS MANAGEMENT OF LISTED MANUFACTURING FIRMS IN NIGERIA.pdf Author: OSHO, FOLAKEMI F. AND KWARBAI, JERRY D. Abstract: Abstract Earnings management is the process of deviating from standard accounting processes and adjusting reported income (Roychowdhury, 2006). Corporate managers engage in earning management, inflating current earnings at the expense of the business economic values, in order to attain a high stock price and/or earnings in order to satisfy the earnings benchmark. Hence, the basic objective of this study is to seek investigate the effect of audit quality on earnings management of 16 consumer goods listed manufacturing firms in Nigeria for the period 2010-2019. The study relied on the data on abnormal cash flow from operating activities, audit fee, audit size and audit tenure were drawn from the published annual report and accounts of the sampled companies. Pearson correlation and OLS regression were employed in the analysis of data. The effect of audit quality on abnormal cash flow from operating activities is positively significant. The study recommended that Management of listed firms in Nigeria should maintain stability and consistency in their earnings, while avoiding earnings management as much as possible. This is by employing uniform accounting policy in accordance with the relevant accounting standards for the preparation of financial accounting information. Management of listed firms in Nigeria should create more innovative ideas and inventions that are substantial enough to project the earnings of the organizations to acceptable level. Keywords: Abnormal Operating Cash Flow, Audit quality, Audit size View |
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Title: ACCOUNTING CONSERVATISM AND FINANCIAL PERFORMANCE OF MANUFACTURING COMPANIES LISTED IN NIGERIA.pdf Author: AJIBADE, AYODEJI T. AND JAJI, KOFOWOROLA Z. Abstract: Abstract The manufacturing sector has a great potential for promoting economic growth and competitiveness in a country like Nigeria, hence the significant need for firms to have a proper financial reporting system which is accounting conservatism. The study examined the effect of accounting conservatism on financial performance of manufacturing companies listed in Nigeria. It analyzed secondary data collated from the annual report of sixteen listed banks listed on the Nigeria stock exchange market. Using multiple regression models, the study examined the combined effect of Asymmetric timeliness measure, Market to book value and Negative Accruals measure on the financial performance of manufacturing firms listed in Nigeria. The result showed that accounting conservatism has a significant effect on the financial performance of the Nigerian manufacturing sector. View |
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Title: CAPITAL STRUCTURE AND LIQUIDITY OF LISTED MANUFACTURING FIRMS IN NIGERIA.pdf Author: OLUSIMBO ADEOLA OLUSEUN AND ADEGBIE, FESTUS FOLAJIMI Abstract: Abstract Since the inception of the global economic and financial crises experienced by many economies over a decade, and the current Covid-19 pandemic crises, there has been a major decline in the flow of finance which leads to instability to manufacturing firms. Organizations have been actively considering various factors that can foster and enhance the financial stability of the firms even amidst several uncertainties. This study was carried out to examine the effect of capital structure on liquidity of listed manufacturing firms in Nigeria. The study employed the ex post facto research design and sampled 16 out of the 20 manufacturing firms listed on the Nigerian Stock Exchange as at 31st December 2019; the data covered ten (10) years from 2010 to 2019, giving a total of 160 firm year observations. However, the study found that capital structure has a significant effect on Liquidity (Adj. R2 = 0.29, F (2, 157) = 32.97, p = 0.000 View |
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Title: FISCAL SPENDING AND THE NIGERIAN ECONOMIC GROWTH A MULTIPLIER APPROACH.pdf Author: FAPETU O. PhD., BALOGUN A.A. PhD., ADEYEYE O.P. PhD. AND OLALEYE B.R. Abstract: Abstract This study examines the impact of government spending on the Nigerian economic growth between the periods of 1990–2019. It utilizes Autoregressive Distributed Lag Model (ARDL) analysis on Nigerian Gross Domestic Product (GDP) and total spending of all the three tiers of Nigerian government – the local government, state government and the federal government. GDP is the dependent variable while total expenditures of the local government, state government and the federal capital territory and the federal government are the independent variables. Net export of goods and services is introduced as a control variable. Augmented Dicky Fuller test was applied to test for unit root to avoid running a spurious regression. The Central Bank of Nigeria (CBN) Statistical Bulletin 2019 is the source of the data used in the study. Regression results show a significant positive relationship between the dependent variable and all the independent variable except the local government. Fiscal policies should be targeted at increasing the revenues of the government – the state and federal government in particular to stimulate provision of infrastructural development that will drive the economic growth further. Keywords: Fiscal Spending; Economic Growth; Government Revenue View |
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Title: CORPORATE GOVERNANCE AND FINANCIAL PERFORMANCE OF COMPANIES IN NIGERIA.pdf Author: UNUIGBOKHAI, OLUFEMI ANTHONY Abstract: Abstract The aim of this research paper is to examine corporate governance and financial performance of companies in Nigeria. The paper adopted a conceptual, theoretical and regulatory framework as well as review of previous empirical studies. The seminar paper showed corporate governance is concerned with ways of bringing the interests of investors and managers into line and ensuring that firms are run for the benefit of investors. The seminar paper shows that corporate governance is concerned with the relationship between the internal governance mechanisms of corporations and society’s conception of the scope of corporate accountability. The seminar paper thus indicates corporate governance is significantly associated with companies’ performance. Thus, the paper recommends that in view of corporate governance and financial performance of companies in Nigeria, government of both developed and developing countries such as Nigeria should encourage policies that would enhance the governance practices of companies and strengthen the enforcement mechanism of the regulatory institutions. Furthermore, to eliminate the issue of corruption and forgery of published financial statement, the regulatory authorities should set up their investigative team and auditors to re-evaluate accounts submitted to different bodies concerned with companies operations. Keywords: Corporate Governance, Financial Performance, Nigeria. View |
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Title: ENTREPRENEURIAL INNOVATION AND OPERATIONAL COST OF FAST FOODS FIRMS IN PORT HARCOURT, RIVERS STATE.pdf Author: NWAOHIRI M.O., BENEDICT C.O. PhD. AND IJEOMA E.K. PhD. Abstract: Abstract This study took an empirical investigation of the relationship between entrepreneurial innovation and the quality of Fast Food firms in Port Harcourt, Rivers State. Entrepreneurial innovation experimented with product innovation and process innovation. Quality was used as a mono-dimensional construct for this research. Data was generated using structured questionnaire and were administered amongst 225 Fast Food workers in Port Harcourt. The hypothesis was tested using partial least square – structural equation modeling (PLS-SEM) through the SmartPLS computer software. The outcome showed both product and process innovation had significant relationships with quality. The implication here was that, the higher the level of innovation, the lower the cost of operation and better food quality. Additionally, on observation, it could be seen that, product innovation had greater effect on cost than process innovation. In conclusion, management should be more customers focused, by considering their needs and preferences, so as to develop tailor made products. It was recommended therefore, that the Fast Food restaurants should continuously innovate in relation to quality, as it will significantly impact their innovative and business performance. This will also improve brand recognition, productivity and value addition over competition. Keywords: Entrepreneurial Innovation, Product Innovation, Process Innovation, Quality. View |
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Title: LEADER SELF-MOTIVATION AND EMPLOYEE PERFORMANCE OF TELECOMMUNICATIONS FIRMS IN SOUTH – SOUTH NIGERIA.pdf Author: NNAMDI ISIRIMAH AND SUNNY R. IGWE PhD. Abstract: Abstract Leaders self-motivation (LEI) as a driver of employees performance has triggered much debate and is still a contagious issue. This paper examined the relationship between self-motivation as dimension of and employees’ performance in telecommunication firms in South-South Nigeria. The cross-sectional survey design was adopted with data generated from 351 employees, managerial and supervisory staff) of the 4 GSM telecommunication Mobile firms. The Spearman ranks order correlation coefficient was utilized in assessing the relationship between self-motivation and the measures of employees’ performance. The results revealed that the relationships between leaders self-motivation positively and significant relate to employee efficient and productivity performance in telecommunication firms in South-South. It was concluded that leaders self-motivation affect and has the capacity induce efficiency and productivity. Recommendation was made that support should be offered and build around optimism motive, achievement drive and individual autonomy through responsibility for job performance and quality outcomes assessment. Keywords: Self-motivation, Transactional theory, Employees’ Performance, Efficiency, Productivity. View |
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Title: TAXATION AND SUSTAINABLE DEVELOPMENT IN NIGERIA (2000-2017).pdf Author: KALAGBOR G. KINGSLEY PhD. AND OKOBA DOUYE Abstract: Abstract The study examined the effect of taxation on sustainable development in Nigeria -within the period of 2000-2017. Its specific objectives were to ascertain the effect of taxation on Gross domestic Product of Nigeria and Human development index of Nigeria. Secondary data were utilized and data were gathered from Federal Inland revenue service (FIRS) planning, reporting and statistic department report for various years, Central bank of Nigeria Annual statistical Bulletin and annual Reports, National Bureau of statistics and United Nations development Program reports. The data and proxies are Gross domestic product (GDP) and human development index (HDI) proxiedfor sustainable development tax revenue generated. Regression and correlation analysis was used for data analysis and testing of hypotheses. The stutiy result indicates that tax revenue has a significant effect on sustainable development in Nigeria when measured on the gross domestic product and human development index. However the effect was more on HDI than on GDP. The study thus recommends that there should be increase in tax revenue so that more economic development pursuits could continue at least in the long term; there should equally be the judicious use of the tax revenue towards the productive sector of the economy so that jobs could be created and thus enhance economic development. Where there is mismanagement of the tax revenue it will lead to continues underdevelopment; specifically, government should embark more on development of human capital. This entails provision of infrastructure in the form of education, hospitals and other industrial activities so that jobs can be created that will spur up economic development not just in the short term but sustainable development Keywords: Tax revenue, Human development index, Gross domestic Product, Sustainable development, Nigeria. View |
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Title: ENTREPRENEURIAL INNOVATION AND THE QUALITY OF FAST FOODS FIRMS IN PORT HARCOURT RIVERS STATE.pdf Author: NWAOHIRI M.O., BENEDICT C.O. PhD. AND IJEOMA E.K. PhD. Abstract: Abstract This study investigated the relationship between entrepreneurial innovation and operational cost of Fast Foods firms in Port Harcourt, Rivers State. Entrepreneurial innovation was explored using product innovation and process innovation, while cost was observed as a mono-dimensional construct. Data were generated using structured questionnaire which were distributed to 225 fast food workers. The hypotheses were tested using partial least square – structural equation modeling (PLS-SEM) via the SmartPLS computer software. The results showed both product and process innovation had significant but negative relationships with cost. Implying that, the higher the level of innovation, the lower the cost of operation of the fast foods. It was recommended that, fast food restaurants should continuously improve their business process by investing in new service processes. This will help minimize cost of operation and ensure competitive edge over rivals. Keywords: Entrepreneurial Innovation, Product Innovation, Process Innovation, Cost. View |
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Title: EFFECT OF FINANCIAL LEVERAGE ON FINANCIAL PERFROMANCE OF LISTED COMPANIES IN NIGERIA.pdf Author: OKEZIE, STELLA O. Abstract: Abstract The study investigated the effect of financial leverage on performance of listed companies in Nigeria for the period 2009-2018. Debt-equity ratio (DER), debt ratio (DR) and interest cover (IC) were adopted as proxies for financial leverage while return on assets, return on equity and return on investment were adopted as proxies of performance. Data for the study were sourced from annual reports of selected companies. To analyze the data collected, the study employed Panel Least Square regression technique. Findings revealed that debt-equity ratio had negative and significant effect on return on assets and an insignificant effect on return on equity and interest cover. A negative and insignificant relationship was also established between return on equity, return on investment and debt-equity ratio and interest cover. However, a positive and significant relationship was established between debt ratio and return on asset and return on investment but was insignificant for return on equity. The study recommended that financial managers can introduce debt in the financing of their operations to enjoy the benefits that debt financing offers with it potentials of improving firm financial performance. However, finance managers should be mindful of excessive debt when raising capital for their business as a high debt-equity ratio undermines the financial performance of listed companies in Nigeria. Keywords: Leverage, Interest Cover, Debt-Equity Ratio, Financial Leverage, Financial Performance. View |
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Title: CAUSAL RELATIONSHIPS BETWEEN NIGERIA’S MILITARY SPENDING, INCOME INEQUALITY AND POVERTY.pdf Author: BOSEDE AKANBI PhD. AND ELIZABETH A. ADEDAYO Abstract: Abstract Insecurity challenges have persisted in Nigeria for over a decade despite rising in military spending over the years. In the same way, income inequality and poverty are part of macroeconomic issues that have remained insurmountable. Existing studies have produced mixed results. Hence, the objective of this paper is to examine the causal relationship between military spending, poverty and income inequality in Nigeria between 1980 and 2016. Data were collected from the publications of Central Bank of Nigeria Statistical Bulletin and Word Development Indicators (WDI). Toda and Yamamoto approach was employed in analyzing the causal relationships between military spending, income inequality and poverty. The results of Toda Yamamoto justified our inability to reject the null hypotheses of absence causality between military spending and income inequality and between military spending and poverty index. This was because the observed p-values were greater than critical value of 0.05, while, modified Wald statistics were unnecessarily small in all cases (0.7241, 0.0095, 1.8670 and 0.4118). The results found no evidence of causality from military spending to income inequality and also from military spending to poverty index, thus, implying neutrality hypothesis between military spending, income inequality and poverty index in Nigeria. The estimated results confirmed that military spending and income inequality as well as military spending and poverty index do not empirically support one another and have no mutual and complementary relationship. The study recommended that even though security might influence poverty and income inequality and poverty, government still have to device policies that will reduce income inequality and poverty independently of policies on military spending. Keywords: Military spending, poverty, income inequality, Nigeria, Toda Yamamoto View |
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Title: VOLUNTARY ASSETS AND INCOME DECLARATION SCHEME (VAIDS), A VERITABLE WEAPON OR INCREASING LOW TAX-TO-GDP RATIO.pdf Author: OLAYINKA, IFAYEMI. M., OGUNDAJO GRACE. O. AND ADEGBIE, FOLAJIMI. F Abstract: Abstract When tax revenue grows at a slower rate than the GDP, the tax-to-GDP ratio drops and when tax revenue grows faster than GDP, the ratio increases. In this paper, the paper evaluated Nigeria’s tax-to-GDP ratio with the underlying factors for the low rate, the paper also examines the contribution of voluntary assets and income declaration scheme to tax revenue. The paper used survey research design where data were obtained through structured questionnaire, the descriptive and inferential statistics presented. It was found that VAIDS has both positive and negative influence on the morale of tax payers and revenue to government. The study found that if corruption continues unabated, and the government has little or nothing to show for the taxes paid by its citizens, both the government and its VAIDS will lose their credibility, as nothing would have changed, this will be bad for both of them. It is hoped that government will take the hint, as tax payers and other stakeholders do their part to make VAIDS successful. The study concluded that tax yield from VAIDS and its aftermath will determine whether we have reached a turning point on tax compliance in Nigeria, or the statuesque remain. the study proffered recommendations on how both the tax revenue and the ratio can be improved. Keywords: GDP, Tax Revenue, Tax Amnesty, VAIDS View |
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Title: INTERNAL CORPORATE GOVERNANCE MECHANISMS AND AUDITOR CHOICE OF QUOTED NIGERIAN MANUFACTURING FIRMS.pdf Author: P.A. EGBUNIKE AND I.V. OWAMAH Abstract: Abstract The study examined the relationship between internal corporate governance mechanisms and auditor choice of quoted manufacturing firms in Nigeria. The study specifically examined the relationship between board size, board independence, board diligence, CEO duality, audit committee diligence, ownership concentration and auditor choice of quoted consumer goods manufacturing firms. The population comprised all quoted manufacturing firms on the Nigerian Stock Exchange as at December, 2019. The study was based on secondary data sources from individual financial statements of selected companies and employed econometric methods such as the use of multiple regression technique in data analysis. It specifically used Probit regression procedure due to the nature of the dependent variable; which is binary. The study found a significant relationship between board-size; board diligence; ownership concentration and auditor choice of quoted manufacturing firms. Board independence, audit committee diligence and CEO duality were not significant. Consequent on the findings, the study recommends among others, that companies be encouraged to have large board size as it paves way for variety of idea submissions and increases the likelihood of choosing a Big 4 audit firm, which could be an index for high audit quality. Keywords: Corporate governance mechanism, Auditor choice, Big-4 auditors; Audit committee diligence View |
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Title: PREVENTING CORPORATE FAILURE THROUGH FORENSIC AUDIT AND INVESTIGATION THE ISSUE OF INTENT.pdf Author: OYADONGHAN, KEREOTU JAMES, PhD. Abstract: Abstract This study examined the role of Forensic Audit in Preventing Corporate Failure. To achieve this, attention was given to the issue of intent and determination of evidence and guilt of intent through forensic audit and investigative techniques. An aggressive literature review is conducted to establish the relevance of forensic investigation in establishing men rea in financial fraud as the best way of proactively preventing corporate failures occasioned by fraud and in appropriate corporate governance behaviours. It is confirmed that conventional audit does not have the mandate and training to detect fraudulent intents, but forensic audit does. It was therefore recommended that management should adopt an accounting system that is sound in principle and effective in proactive practice of fraud management. Also, forensic accounting/auditing services should be utilized holistically while management needs to be proactive by objectively initiating forensic investigations on quarterly basis. KEY WORDS Forensic, Audit, Corporate failure, Intent, criminal, Nigeria View |
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Title: THE IMPACT OF BANK INFORMATION TRANSPARENCY ON CUSTOMERS’ WELL-BEING IN GHANA.pdf Author: MORRIS AYAA MENSAH Abstract: Abstract Achieving transparency is becoming increasingly important for regulators and policymakers. Even in industrialized countries, transparency concerns, often founded on false pretexts, are widespread. This article argues that transparency is indispensable to the banking sector and describes the potential consequences for customers who do not benefit from relevant and timely information disclosure from banks. This study investigates the impact of bank information transparency on customers financial well-being in Ghana. The research is a correlational research design with 125 customers conveniently sampled from a population of 184 customers from five universal banks in Ghana to answer a paper-and-pencil questionnaire. The researcher used a Bivariate (Pearson) Correlation in SPSS version 22 to analyze the data. The research concludes that there is a moderately significant positive relationship between bank information transparency and subjective financial well-being. The study recommends that banks provide timely information that facilitates customers assessment of their financial reports and other public disclosures View |
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Title: SPECULATION AND INVESTMENT AN EMPIRICAL ANALYSIS.pdf Author: MAXWELL OKPOTI MENSAH Abstract: Abstract Market analysis and forecasting are vital components of contemporary capitalist activity. Financial market participants create financial possibilities through their speculation of the present and engagement in the unknowable future. The activity of specialists who profess to conduct thorough studies of economic trends and market movements is at the center of this process. This study employed a descriptive research design. It is a quantitative study that employed parametric inferential statistics to examine data using IBM SPSS v 22. The researcher chose a population of 200 customers of betting and investment firms living within Accra, Kumasi, and Takoradi located in Ghana. A sample size of 132 was recommended by the Raosoft sample size calculator to be used for the study at a 95% confidence interval. The research was unable to disentangle investment from speculation and conclude that all participants, whether on Wall Street, Ghana Stock Exchange, or even in game centers, are engaged in uncertain economic activities. Investing in equities or staying out of the financial markets entirely are both speculative activities. This study suggests that customers of betting and investment firms speculate whiles engaging in investment activities. The study results also clearly state that speculation and investment are closely related, affecting how Ghanaians carry out investment activities View |