2021 Archive
| 1 |
Title: LIQUIDITY FUNDAMENTALS AND STRATEGIC PROSPECTS OF LIQUID INVENTORY BUSINESS EVIDENCE FROM LENCON COMPANY IN {WUKARI.pdf Author: Prince Umor C. Agundu PhD & Iember Ashonjo Abstract: Abstract Over the years, not much endeavour empirically projects the dynamics and strategic prospects of industries in Nigeria’s Emerging Business Communities (EBC). Relatively, Wukari features as EBC in Taraba State of Nigeria, hosting three universities in addition to agribusinesses, banks, and other strategic organizations. Lencon Table Water Company (herein identified as Lencon Company) is an enterprise which uniquely deals on table water (designated as liquid inventory in context). This study examines how liquidity fundamentals correlate with strategic prospects of Lencon Company. Specifically, the study determines how raw material, work-in-process, and finished goods fundamentals (respectively) correlate with turnover prospects. Theoretical foundations anchor on the contributions of Fubara and Agundu (2005), Agundu, Ottih and Reuben (2005), Leach and Melicher (2006), Kazmi (2008), Miller (2010), Agundu (2011), Anichebe and Agu (2013), Agundu and Akpa (2016), Ekanem and Agundu (2017), and Agundu (2019). The target population is 58 respondents, of which 50 are sampled based on Taro Yamane technique; with 48 effectively responding. Descriptive and inferential analyses, aided by Statistical Package for Social Sciences (SPSS) 23, generated results revealing positive and significant correlation between raw materials (p-value=0.00< 0.05); work-in-process (p-value =0.00< 0.05); and finished goods fundamentals (p-value = 0.03 View |
| 2 |
Title: THE ROLE OF INTERNAL AUDIT IN FRAUD DETECTION AND PREVENTION IN NIGERIA.pdf Author: Olayinka Ifayemi M. PhD., Ajayi-Owoeye A Olotu & Omotoso Naomi Oluwaferanmi Abstract: Abstract The study investigates the role of internal audit on fraud detection and prevention in the public and private sector in Nigeria. Survey research design was adopted using simple random sampling technique and organizations were chosen using judgmental approach. The population was drawn from internal audit staffs from both private and public sectors from Ogun state. Data for the research were obtained from primary data through the use of questionnaire. Data were analyzed through descriptive statistics and inferential statistics in the analysis to determine the effect of internal audit on fraud detection and prevention in the public and private sector. The findings of the study reveal that that organizational culture has a significant effect on fraud detection and prevention in the selected organizations in Nigeria for the period of study. Findings also revealed a positive significant effect in regard to internal control and fraud detection and prevention. This implies that there is a significant positive nexus between internal control and fraud detection and prevention of selected organizations. The study recommended among others that auditors should maintain the scope of their activities on the efficiency of the organizations internal control system audit as this will enhance the detection and prevention of fraudulent activities. Keywords: Fraud Risk Opportunity, Fraud Risk Pressure, Detection of fraud, Audit View |
| 3 |
Title: CUSTOMERS ATTITUDE AND PATRONGE OF AUTOMATED TELLER MACHINE (ATM) SERVICES IN NIGERIA.pdf Author: Gabriel Tuoyo Kubeyinje PhD. & Ekanem Daniel Ekanem PhD. Abstract: Abstract This study empirically examined the relationship between customers’ attitude and patronage of Automated Teller Machine (ATM) services in Nigeria. Descriptive survey research design was adopted for this study. The sample size of 300 respondents was randomly selected to ensure fair representation. Sampling location comprised customers of four Nigerian Deposit Money Banks (DMBs) with international authorization in the banking sector of Nigeria, namely First Bank of Nigeria Limited, Guaranty Trust Bank Plc., Access Bank Plc. and Zenith Bank Plc., quoted on the floor of Nigerian Stock Exchange (NSE) that operates in the University of Benin (Ugbowo, campus) in Benin City, Edo State, Nigeria. 300 copies of structured questionnaire were administered to respondents. However, 280 copies of questionnaire were found to be valid and usable. Data collected through questionnaire administration were analyzed using descriptive and inferential statistics. Hypotheses were tested using Ordinary Least Square (OLS) multiple regression estimation analysis. The study used both the Statistical Package for Social Sciences (SPSS version 24) and Econometric (E-views 8) computer software for data analysis. The study found out that customers perceived utilizations; customers perceived banks performances and customers perceived benefits have statistically significant influence on customers’ attitude and patronage of ATM services in Nigeria. Therefore, on the basis of the findings, the study recommends that management of DMBs should ensure regular maintenance of ATMs, install more ATMs at strategic service center locations with improve technology and provide lower denomination of currency (naira notes) in ATMs among others. Keywords: Attitude, Customers, Patronage, Relationship, Technology. View |
| 4 |
Title: FINANCIAL MANAGEMENT PRACTICES OF MICRO-SMALL-MEDIUM ENTERPRISES AND ACCESS TO MICROFINANCE INSTITUTIONS’ CREDIT..........pdf Author: Alalade, Y.S.A PhD. Esther O.Lawal PhD. And Olateju, Ofure Abstract: Abstract The study established the effects of financial management practices of Micro-Small-Medium Enterprises (MSMEs) on access to microfinance institution credit in Nigeria. The study utilized the cross-sectional research design, and with the aid of a questionnaire, responses to the research questions were collected from 330 micro, small, or medium enterprises randomly selected in Ogun State, Nigeria. Descriptive statistics as well as simple linear regression was used to analyze the collated data and test the research hypotheses at the 5% level of significance. Results showed that working capital management (β = 1.361, t = 4.327), financial reporting (β = 1.346, t = 4.569), financial planning (β = 1.183, t = 5.265), and accounting information system (β = 1.299, t = 5.797) being measures of financial management practices within MSMEs each exhibited significant positive effects on MSMEs access to microfinance institution credit in Nigeria.The study concluded that financial management practices are integral to the stability of micro-small-medium Enterprises in Nigeria and increases their likelihood of accessing credit from financial institutions such as microfinance banks. The study recommended that firms, especially micro, small, medium enterprises, must effectively carry out financial management practices within their businesses, especially if the business would seek credit from financial institutions. Keywords: Credit, MSMEs, Microfinance institutions, financial management. View |
| 5 |
Title: RESPONSIVE REGULATION THEORY CORPORATE COMPLIANCE AND SUSTAINABILITY IN NIGERIA.pdf Author: Owolabi, T.J. & Oyeku E. A. Abstract: Abstract Regulation is a form of government intervention in economic activity and interference with the working of the free market economic system. An important determinant of government effectiveness is how well regulatory systems achieve their policy objectives. Most free marketers prefer to be in charge but avoid regulations because they dislike government intervention in socio-economic life. This study examines responsive regulation theory: corporate compliance and sustainability in Nigeria. It used exploratory research design focusing on systematic review of existing articles, journals, periodicals and other relevant literatures on fields of business, auditing, accounting, taxation and finance. The review shows that there is growth in regulations and awareness of compliance problems in the country, but action to improve compliance is not properly coordinated and systematic. The study recommends that improving regulatory compliance requires increased attention to all elements of the chain of government action from problem definition, policy formulation, and implementation and to compliance enforcement and monitoring. Keywords: Responsive regulation, business regulation, corporate compliance, enforcement, policy formulation, implementation, sustainability View |
| 6 |
Title: CORPORATE SUSTAINABILITY REPORTING AND MARKET VALUE OF LISTED OIL AND GAS FIRMS IN NIGERIA.pdf Author: Owolabi, Sunday Ajao phD. Emuebie Emeke & Ogundeyi, Adebayo Olusesi Abstract: Abstract Corporate sustainability reporting covers financial and non-financial reporting leading to the disclosure of both quantitative and qualitative information for the benefit of users of the financial statements. These reporting styles reveal the stewardship strength of management in maximizing shareholders wealth and improving corporate value. The main objective of this study is to examine the impact of corporate sustainability reporting on the market value of listed oil and gas firms in Nigeria. Corporate sustainability reporting was proxied using economic sustainability, social sustainability and environmental sustainability while market value was measured as the market value of equity. The population of the study comprises all twelve (12) listed oil and gas firms on the NSE out of which nine (9) firms were sample and data extracted from the annual reports and accounts covering the period 2011-2020. The multiple regression technique of analysis was employed in establishing a relationship between corporate sustainability reporting and market value. The findings revealed that, social and environmental sustainability reporting positively and significantly influence market value. Hence it was recommended that, Sustainability reporting standards should be developed to cater for variations with the international index (GRI) that cannot be domesticated. This will ensure that, listed oil and gas firms incorporate high sustainability reporting knowing that it has significant influence on market value. In addition, listed oil and gas firms should seek to adopt and implement corporate reporting standards particularly those in relation to social and environmental disclosure. Key words: Corporate sustainability reporting, market value, global reporting index, oil & gas firm View |
| 7 |
Title: AUDITING AND FRAUD CONTROL IN GOVERNMENT ESTABLISHMENTS A STUDY OF SELECTED LOCAL GOVERNMENT AREAS IN EKITI STATE.pdf Author: AKINTAYO OLUWATOYIN OLUSOLA ALEX Abstract: Abstract This study examines impact of auditing in controlling fraud activities in government establishments in Ekiti State. Objectives of the study are to; examine the factors affecting the effectiveness of auditors in fraud prevention in Ekiti State local governments, evaluate the control put in place by the management of the local governments to prevent fraud in Ekiti State local governments. Simple random sampling was used to select the sample’s 45 respondents, 35 copies of questionnaire were filled and returned. Data used for this study were analyzed using descriptive statistics and F-test. The result of this study reveals that local government Areas in Ekiti State used internal audit methods in fraud prevention and detection. More so, it was discovered that the measures put in place by the management of the LGAs were effective in fraud prevention. This study concludes that auditing helps in controlling fraud activities in government establishments in local government areas of Ekiti State. In accordance with findings of this study, this recommends that, laws that would aid internal audit unit autonomy in discharging their functions should be enacted by Ekiti state government. Keywords: Auditing, Fraud, Prevention, Monitoring, Evaluation and Control. View |
| 8 |
Title: PUBLIC SECTOR ENGAGEMENT AND VALUE FOR MONEY AUDIT.pdf Author: Owolabi Sunday Ajao PhD. & Alao, Olubunmi Abstract: Abstract By constitution creation, the federal, state, and local governments are saddled with the responsibility of public sector organizations to adopt the concepts of value for money audit and integrate both in government ministries and departments. The internal control mechanism in the public sector, on the other hand, is not strong enough to control wastages, embezzlement, fraud, and corruption. The primary goal of every organization is to maximize wealth to the maximum extent possible. Having a general understanding of the key features of value for money audit refers to the extent to which funds are used, spent efficiently, and the extent to which linked activities are successful in achieving their predetermined goals and objectives. This paper investigates the significance of the value of money audit effect on public sector engagement and assesses its goals and features. Using an exploratory research design, and reviewing related literature consisting of journals, periodicals, and other materials in Auditing and Accounting, the results show that failing to implement the value for money audit process has an impact on the smooth operation and growth of both private and public sector organizations. As a result, the paper advocates for auditing for proper value for money in public sector engagement and for Internal Audit to be independent of value for auditing functions. Keywords: Value for money audit, public sector engagement, public sector organization. View |
| 9 |
Title: IMPACT OF PROFITABILITY AND DIVIDEND POLICY ON SHAREHOLDERS’ WEALTH IN NIGERIA A DYNAMIC FIXED EFFECTS APPROACH.pdf Author: JAMES AGBEKEME SARAKIRI PhD. Abstract: Abstract In this study, we investigate the impact of profitability and dividend policy on shareholders’ wealth in Nigeria focusing on deposit money banks (DMBs), food and beverages companies that are listed on the Nigerian stock exchange (NSE). Shareholders’ wealth is measured by market value per share, while profitability and dividend policy are measured by earnings per share and dividend per share respectively. The empirical analysis is based on a panel dataset consisting of 18 listed firms (9 deposit money banks and 9 food and beverages firms) covering the period 2013 to 2018. Both analysis of variance (ANOVA) and the conventional panel data methods are employed for data analysis. We find some remarkable results. First, our results show that industry-specific factors are significant determinants of a firm’s dividend policy, profitability and wealth of shareholders. Second, we find that market value per share is persistent and can be predicted based on its one period lagged value. Also, a firm’s unobserved fixed effects, which correlate with its dividend policy and other observed factors, play an important role in its shareholders’ wealth determination. Finally, consistent with the dividend irrelevance theory, there is evidence that dividend payments have no significant effect on shareholders’ wealth as market value per share responds only to changes in profitability levels. These results hold controlling for corporate governance and firm size. Key words: Dividend policy, shareholders’ wealth, profitability, unobserved fixed effects View |
| 10 |
Title: WORKING CAPITAL MANAGEMENT AND FINANCIAL PERFORMANCE OF LISTED INDUSTRIAL GOODS FIRMS IN NIGERIA.pdf Author: Ogbebor, Peter I. PhD., Ajibade, Ayodeji T. PhD. & Onodiana, Sylvester Abstract: Abstract There is a dense of literature on working capital management but its effects on financial performance of listed industrial goods firms in Nigeria is scanty, hence, this study examines the effect of working capital management on the financial performance of industrial goods firms listed on the Nigerian Stock Exchange. The research adopted descriptive research design using secondary data of the nature of ex-post facto. The population of the study consists of all the thirteen (13) industrial goods firms listed on the Nigerian stock exchange, while the sample size was determined using purposive sampling technique to select the ten firms which constituted the sample. The data obtained from secondary sources were analyzed using both descriptive and inferential statistics. The result of the findings amongst others showed that working capital has both positive and significant effects on return on assets (F-stat = 12.072, p value = 0.000) of industrial goods firms listed on the Nigerian Stock Exchange. Based on the empirical findings of the hypotheses, this study concludes that working capital is a significant determinant of financial performance of industrial goods manufacturing companies listed on the Nigerian Stock Exchange. It is hereby recommended, amongst others, that managers of the listed industrial goods firms in Nigeria should pay attention to the average collection and payable periods of their firms since they had negative and insignificant effect on their return on assets, as per the finding of this study. Keywords: Financial performance, Net margin, Return on capital employed, Return on assets, Return on equity, Working capital View |