Companies In Nigeria Research Articles

Stock Market Reaction to Accounting Information of Listed Pharmaceutical Companies in Nigeria

The aim of this study was to investigate the effect of accounting information on stock market reaction of quoted pharmaceutical companies in Nigeria by determining whether there is a significant relationship between accounting information and stock market reaction using 2009 to 2014 secondary data collected from the Nigeria Stock Exchange office in Port Harcourt, Rivers State, Nigeria. An ex post facto research design was appropriately adopted to address the objective of the study. Because of the research design adopted, a multiple regression analysis was employed to test the hypothesis raised in the study. The independent variable, which is accounting information, is measured as earnings per share (EPS) and book value per share (BVS), while the dependent variable, which is stock market reaction, is measured as stock price. The results obtained suggest that there is no statistically significant relationship between accounting information and stock market reaction; drawing on this finding, we concluded that accounting information has no significant effect on stock market reaction. Based on this finding, we recommend that sound and specific guidelines on accounting information should be issued by the Financial Reporting Council of Nigeria (FRCN) and the Security and Exchange Commission (SEC) so as to increase the relevance of accounting information of quoted companies.

CORPORATE GOVERNANCE MECHANISM AND ACCOUNTING CONSERVATION OF LISTED MANUFACTURING COMPANIES IN NIGERIA

<p>This study assessed the relationship between Corporate Governance Mechanism (CGM) and Accounting conservation of selected listed companies in Nigeria. The study adopted an expo-facto research design. The population of the study was 57 companies listed on the Nigeria Exchange group. The sample was determined using Taro Yamane formula which gave a sample size of 25 companies. The study covered the period 2007 to 2021 financial year. The study used secondary data. The data were analyzed using descriptive statistics and linear regression analysis. The result of the analysis shows that the effect of Board Size on the accounting conservatism of listed manufacturing firms in Nigeria is statistically significant. Board independence has a significant influence on the accounting conservatism of listed manufacturing firms in Nigeria. It was recommended that companies should avoid small board sizes and target maintaining the optimal number of members on their boards consistent with governance codes of practice. Evidence from this study shows that large board size has significant positive trade-off on accounting quality and conservatism.</p><p><strong>JEL:</strong> M14, M40, M41, M42, M49</p><p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/soc/0017/a.php" alt="Hit counter" /></p>

Effects of Structural Change Practices on Employee’s Quality of Service in Quoted Insurance Companies in Nigeria

The research looked at how listed Nigerian insurance businesses have changed structurally and how well their employees are treated. Structural change in Nigeria’s listed insurance businesses is the primary focus of this research, which examines the impact on employee service quality. Survey research was used in the study. There were 4,822 workers of the 23 listed insurance firms in Nigeria that were included in the study’s population. The target demographic was represented by a sample of 480 participants. A multi-stage sampling method was used to choose the participants. Stratified and purposive sampling methods were used in this study. A modified questionnaire produced by previous researchers and divided into three parts was employed in the study. Through the use of content validity, the researcher was able to verify the reliability of the research instrument. Because the Cronbach’s Alpha coefficient reliability result of structural change was 0.718 and the employee’s quality of service was 0.725, the questionnaire was declared relable. Regression analysis was used to examine the presented hypothesis. Employees’ quality of service is negatively affected by structural change (beta = -0.0851, P-value = 0.2090-0.05) but is statistically insignificant (beta = -0.0851). But this research found that structural modifications allow service organizations, including the insurance business, to share a same vision and goal. As a result, every organization that is going through a period of transition needs a solid organizational structure in place. Consequently, it was proposed that the workers who are directly engaged about structural change should only be permitted to participate in the decision making process about the adjustment.

Stimulators of third-party logistics performance of supply chains in the Nigerian manufacturing industry

The COVID-19 disruption of supply chains has motivated manufacturing companies in Nigeria to build and maintain supply chain visibility, robustness, and resilience to remain third-party logistics providers. It is vital to have an adequate understanding of third-party logistics performance drivers. Most studies have concentrated on third-party logistics capability, while few others explored the impact of relational governance structures on performance. However, studies examining the synergy between third-party logistics capability and relationship management are scarce. The purpose of this study is to investigate the stimulators of third-party logistics performance in the Nigerian manufacturing industry. A descriptive survey, e-mail questionnaire, and PLS-SEM approach was used to collect and analyze the data from a sample of 364 manufacturing companies in Nigeria. The findings indicated that relationship management has a significant positive association with third-party logistics capability (β= 0.785, t = 3.457, p < 0.001); relationship management has a significant negative association with supply chain risk (β= –0.209, t = 4.149, p < 0.001); third-party logistics capability has a significant negative association with supply chain risk (β = –0.620, t = 3.199, p < 0.001); supply chain risk has a significant negative association with logistics performance (β= –0.695 t = 5.396, p < 0.001). Hence, relationship management, third-party logistics capability, and supply chain risk are drivers of third-party logistics performance. Therefore, supply chain partners should manage their relationships to strengthen third-party logistics capability and reduce all kinds of uncertainties and risks.

Change Management And Job Performance Of Office Managers In Tertiary Institutions In Rivers State

This study examined change management and Job performance in manufacturing companies in Nigeria. Relevant conceptual, theoretical and empirical literatures were reviewed. The study conceptualises change management in terms of technological change, leadership change and change management strategies. This study was anchored on organizational change and Lewin`s Three Step Model. The study was carried out in eight (8) tertiary institutions in Rivers State. Descriptive survey design was adopted in the generation of data. The instrument for data collection used in this study was the questionnaire. The population of the study consisted of eight hundred and thirty-six (836) Office and information managers in seven public tertiary institutions in Rivers State. The respondents to this research are 270 participants which constituted the sample size obtained through Taro Yamene Sample Size Determination Formula. Descriptive statistics (mean, standard deviation, and percentages) were used as statistical tools for univariate analysiis the data, while simple linear regression analysis was used as statistical tool for bivariate analysis with the Statistical Package for Social Sciences (SPSS). Change management strategies have effect on Job performance in manufacturing companies. Leadership changes have a positive influence on job performance of office managers in the tertiary institutions in Rivers State. The study concluded that change management is a determinant of office managers’ job performance in in tertiary institutions. The study recommends that technology change had influenced employee performance since it simplifies the work to be done, thereby making work more efficient. Organizations which implement new technology should provide proper training to their employees to increase their performance. Every organization should build strong organizational management strategies that help to build good relationships based on their values, norms, behaviours, and perceptions. Leadership changes leaders‟ mind-set, style, and behavior. The change process they design as a result of their orientation must encourage employees to want to participate, to choose to contribute, rather than force them to do so.

The Moderating Role of Green Work Climate Perceptions on Green Human Resource Management and Organizational Agility of Multinational Oil and Gas Companies in Nigeria

The Moderating Role of Green Work Climate Perceptions on Green Human Resource Management and Organizational Agility of Multinational Oil and Gas Companies in Nigeria

Environmental Financial Reporting and Corporate Performance of Listed Pharmaceutical Companies in Nigeria

A nation's economic growth and development depend critically on the pharmaceutical business because of its inextricable link to people's health and, by extension, their ability to put in productive hours at work. This study analyzed the effect of environmental financial reporting on the profitability of publicly listed pharmaceutical companies in Nigeria. The study relied on the ex post facto research design and made use of historical financial data on the adopted study variables. At the 0.05 threshold of significance as decision criteria, the study tested two hypotheses. The research used secondary data, and the businesses studied were a representative sample of the pharmaceutical companies listed on the Nigerian Exchange Group. Ordinary least square regression was used in conjunction with E-views version 9 to analyze the collected data. Earnings per share of listed pharmaceutical businesses in Nigeria were shown to be favorably connected with environmental financial reporting proxy by employee's welfare policy and community development cost. Management was urged to invest more in their workers' well-being to boost morale and productivity in the pharmaceutical industry.

Corporate Financial Attributes and Waste Disposal Cost Disclosure of Listed Industrial Goods Companies in Nigeria

This study examines the impact of corporate financial attributes on waste disposal cost disclosure (WDCD) of listed industrial goods companies in Nigeria from 2013-2020. A sample of ten (10) companies listed as industrial goods using census sampling technique was drawn from the population of thirteen (13) companies. Audited annual reports and accounts were used for data extraction. The analysis was done using descriptive statistics and multiple regressions. Explanatory research design was adopted in the study to find out the impact of corporate financial attributes on WDCD. Variables used include firm size, leverage, ROA and sales growth and WDCD measured using ordinal coding scheme based on GRI guidelines (G4). Robustness tests such as multicollinearity test, heteroscedasticity test, normality test and Hausman specification test were conducted to validate the results. The study revealed that there is negative significant relationship between FSIZE, LEV, SGWRT and WDCD while negative insignificant relationship between ROA and WDCD of listed industrial goods companies. The study therefore, recommends that the federal government of Nigeria should make WDCD mandatory especially among industrial good companies considering the nature of their activities polluting the environment. This can be done by making environmental reporting as part of the requirements for listing companies on the floor of Nigerian stock exchange.

Corporate Governance and Capital Structure of Listed Manufacturing Firms in Nigeria

The study examines the impact of corporate governance on capital structure of the quoted manufacturing firms in Nigeria. This study used secondary data methodology to obtained annual report and sample of 28 out of 68 listed manufacturing firms on the Nigeria stock exchange over a period of ten years 2013-2022. The findings revealed significant and positive relationship between corporate governance and financial leverage of listed manufacturing firms in Nigeria. Specifically, the board size coefficient is positive and statistically significant at the 0.01 level and shows a significant positive relationship between board size and financial leverage. The results further indicate a significantly positive relationship between CEO duality and leverage. The coefficient of dual in the model is positive (coef=0.402) and is significant (t=2.640) at the 0.01 level. However, board composition revealed a negative but significant relationship with financial leverage of the listed manufacturing firms in Nigeria. It is recommended that management of manufacturing companies in Nigeria should always display creativity that will ensure good corporate governance so as to significantly drive down the gearing level of their companies.

Self-Efficacy and Sustainability of Oil and Gas Companies in Nigeria

This study examined the relationship between self-efficacy and sustainability of oil and gas companies in Nigeria. The study adopted the cross-sectional survey in its investigation of the variables. Primary source of data was generated through structured questionnaire. The population of the study was eleven (11) indigenous oil and gas companies quoted in Nigeria Exchange Group. The entire population was adopted as a census since the study population was small. Hence, the entire population of 11 indigenous oil and gas companies in Nigeria were adopted as a census. However, the respondents/ participants in the study were two hundred and sixty-four (264) Managers of the 11 indigenous oil and gas companies in Nigeria. The research instrument was validated by my supervisors vetting and approval while the reliability of the instrument was achieved by the use of the Cronbach Alpha coefficient with all the items scoring above 0.70. The hypotheses were tested using the Spearman’s Rank Order Correlation Coefficient. The findings revealed that there is a significant relationship between self- efficacy and sustainability of oil and gas companies in Nigeria. Based on the finding, the study concludes that self-efficacy correlates with economic, social and environmental sustainability respectively. Keyword: Self-Efficacy, Sustainability, Economic Sustainability, Social Sustainability, Environmental Sustainability

Structural Determinants of Financial Sustainability of Listed Financial Companies in Nigeria

The study examined the effect of structural determinant of financial sustainability of listed financial companies in Nigeria from 2012-2021. The study adopted longitudinal research design with panel multiple regression model was used for the analysis. The study found that managerial ownership has a positive significant effect on financial sustainability, institutional ownership has negative insignificant effect on financial sustainability while foreign ownership has positive insignificant effect on financial sustainability of listed financial companies in Nigeria. Based on the finding, the study recommends that managers should be encouraged to acquire more shares since it will lead them to be more committed to the company’s operations that can increase financial sustainability of the company. Also, the banks should encourage foreign investors to acquire shares because the resultant distribution of ownership among different groups can impact on managerial opportunism, which subsequently has implications for managerial behavior and corporate performance. This, they will monitor and check the management behaviour whenever necessary.

Managerial Ownership and Tax Avoidance of Listed Companies in Nigeria with Profitability as Mediating Variable

This paper examines the mediating effect of profitability on the relationship between managerial ownership and tax avoidance of listed companies in Nigeria. The study employed a correlational research design using data from the Nigeria Exchange Group (NGX) over the period of twelve years (2010-2021). Data was extracted from the annual report and accounts of the 121 out of 156 companies that were listed for the period. The data collected were analyzed using descriptive statistics, correlation and Structural Equation Modeling (SEM) were used as techniques for data analysis while Monte Carlo model was used to determine the level of significance of the indirect effects and the hypotheses formulated were tested. The study’s findings demonstrate that managerial ownership affects tax avoidance behavior and that the relationship between managerial ownership and tax avoidance is mediated by the level of profitability. Based on these findings, the study recommended that shareholders need to pay closer attention to corporate tax matters to verify that the business has complied with its tax duties accurately and completely. Also, to reduce the level of principal-agent conflicts and enhance tax avoidance by monitoring management activities, listed companies in Nigeria should encourage managerial shareholding because some directors do not have share in sampled companies. Furthermore, the findings could be employed to inform policy makers on effective managerial shareholding on tax avoidance among listed companies in Nigeria.

Workplace Nepotism and Employees’ Job Satifaction in Nigeria: Does it Affect Healthcare Companies?

In recent times, workplace nepotism has become a prevalent issue facing small, medium and large companies; hence, it has turned out to be a major discussion among management practitioners and researchers. Besides, while we acknowledged the plentiful studies on workplace nepotism and employees’ job satisfaction nexus, there is limited literature on whether nepotism in the workplace does affect employees’ job satisfaction among healthcare companies in Nigeria. In view of the above, this study assessed workplace nepotism and employees’ job nexus of selected healthcare companies in Nigeria. The study used a sample of three hundred and ten (310) respondents, which were selected via a purposive sampling technique. Data obtained were analysed using descriptive (mean, standard deviation, skewness, kurtosis, and Pearson correlation), diagnostic (variance inflation factor) and inferential (multiple regression) statistical tools. Findings indicated significant and negative relationships between workplace nepotism dimensions (gender and ethnic divides) and employees’ job satisfaction. Given the findings, it was recommended that the management of healthcare companies should strive towards overseeing the divides in gender and ethnicity so as to cushion the effect on employees’ job satisfaction. Additionally, there is a need for healthcare companies’ management to set up measures aimed at fitting the divides in gender and ethnicity in order to encourage harmony among employees.

Audit Committee Characteristics and Quality of Financial Statements of Listed Cement Companies In Nigeria

This study investigates the effect of audit committee characteristics on the quality of financial statements. The data was obtained from 3 listed cement companies from 2011 to 2022. The study employed multiple regression technique. The study found that Audit Committee Size (ACS) insignificantly increases earnings management thereby reducing the quality of financial statement (QFS), while Audit Committee Independence (ACI), Audit Committee Accounting Expertise (ACAE) and Audit Committee Gender Diversity (ACGD) insignificantly reduces earnings management thereby increasing the quality of financial statement (QFS). Since these effects are not statistically significant the study therefore, concludes that audit committee characteristics have no statistically significant effect on the quality of financial statement of listed cement manufacturing companies in Nigeria and further recommends that organizations should improve on the numbers of audit committee independent member, audit committee accounting expertise member and audit committee gender diversity as their presence tends to reduce earnings management.

Claims Management and Firm Performance of Insurance Companies in Nigeria: Moderating Effect of Marketing Factors

The study aims to analyse the effect of claims management on firm performance of insurance companies through marketing factors. The data was collected from 776 of management, senior and junior (frontline) staff of selected Insurance companies in Lagos State using a questionnaire as a data collection tool. This research uses a quantitative approach with a survey method. Respondents were selected from the the 20 registered insurance companies across composite, general and life Insurance businesses in Lagos State through a stratified ransom sampling technique. The collected data were analysed using hierarchical regression analysis (HRA) to test hypothesis and evaluates the regression model specified. The collected data were analysed using hierarchical regression analysis (HRA) to test hypothesis and evaluates the regression model specified. The findings indicates that marketing factors significantly moderated the effect of claims management practices on firm performance of selected Insurance Companies (β = -0.009, R2∆ = 0.002; F∆ = 17.928, p < 0.05). The study concludes that marketing factors moderated the effect of claims management practices on firm performance of selected Insurance Companies in Lagos State. The study therefore recommends that the management of selected insurance companies in Lagos State focus on creating a positive marketing factor that bolsters claims management practices to achieve a sustainable performance in the industry. This may involve developing marketing policies and training that encourage employee involvement, job satisfaction, and a positive working environment.

Determination of Production System Effectiveness Based on Sustainable Global Standards

Production system effectiveness determine to measure the sustainability of the established industries demands the development of a model for resolving global sustainable productivity challenges. The attributes (internal and external) of industrial failure were determined using questionnaire administration and oral interviews of industry experts in five (5) selected production companies in Nigeria: (Company A); (Company B); (Company C); (Company D) and (Company E). Production System Effectiveness (PSE) factors: Availability A, Performance P, and Quality Q were determined to arrive at manageable decision-making criteria under uncertainty, risk, or competition. Initial measures of PSE were based on the input internal factors (manpower, machine, material, energy, management, information/communication, money, and marketing), while sustainability decisions were determined using globally acceptable standards. The model was tested using data (weighted and normal) from the stated companies to determine their sustainability performances, while paired t-test statistic was used to test the levels of significant difference between weighted (WPSE) and normal (PSE) at 5%. The results indicated varying optimum decisions which were influenced by the nature/types of competition, risk, and standard of measure. The statistical result showed that there was a significant difference between the PSE and WPSE. These differences had little or no effect on optimum decision-making in all companies investigated.

Internal Audit Function and Financial Statement of Insurance Companies in Nigeria

The survival of any firm is predicated on the efficient functioning of the internal audit constituted by management for safeguarding of the company’s assets. It has been argued that several instances of doctored financial statements of quoted firms in Nigeria abound leading to scandals with dire consequences on investors’ confidence. The study examines the relationship existing between internal audit function and the financial performance of insurance companies in Nigeria. The study made a return on assets as a function of audit committee size, audit committee independence, audit committee financial expertise and firm size. The data culled from the financial statements of selected firms, National Insurance Commission Facts Books and the Nigerian Stock Exchange covers the period 2011-2020. Multiple regression techniques were used to explore the contemporaneous dynamics. The study finds evidence of a significant positive impact of audit committee size, audit committee independence and audit committee financial expertise on financial performance, contrary to the significant negative impact of firm size. Therefore, the paper recommended that the various elements of audit committee characteristics, which include audit committee size, independence, and financial expertise, should be strengthened to enhance financial performance in the insurance sector.

Does corporate governance matter in the cleanup of reported oil spills? Evidence from Nigeria

PurposeThis study aims to examine whether corporate governance mechanisms – board size, board independence and CEO duality – influence the actions of oil companies operating in Nigeria to clean up oil spills from their facilities.Design/methodology/approachBoth binary logistic regression (linear) and random-effects logistic regression models were used to test three hypotheses using a unique data set of 1,262 oil spill events involving 24 oil companies from 2017 to 2019.FindingsThe study found that board size and board independence are positively related to oil spill cleanup.Practical implicationsPrivate oil companies in Nigeria should encourage larger and more independent boards in their corporate governance (CG) structures, as these boards may be more effective in serving the interests of stakeholders by bringing diverse knowledge and experience to the boards. Similarly, regulators should extend the enforcement of CG codes to private firms.Originality/valueTo the best of the authors’ knowledge, this is the first study that investigates the influence of CG attributes on oil spill cleanup.

Determinants of Cash Holdings: Evidence from Listed Pharmaceutical Companies in Nigeria

This study assessed the determinants of cash holdings of quoted pharmaceutical firms in Nigeria from 2014-2022. Three hypotheses were formulated in line with the objectives of the study. Ex-post facto research design and panel data were adopted and the data for the study were obtained from fact books, annual reports and account of the quoted pharmaceutical firms under study. Pearson coefficient of correlation and Panel least square regression were applied for the test of the three hypotheses formulated with aid of E-View 9.0 statistical software. Findings showed that market-to-book value ratio, investment in non-current assets and cash flow have a significant but negative significant relationship with cash holding (proxied by cash and cash equivalent) at 5% significant level. Based on these findings, the study recommended among others that pharmaceutical firms should adopt cash management practices since cash reduces the burden to perform well and allows managers to invest in projects that best suit their own interests.

Implications of regulatory policy for building secure agile software in Nigeria: A grounded theory

AbstractNigeria is ranked second worldwide, after India, in reported incidences of cyberattacks. Attackers usually exploit vulnerabilities in software which may not have adequately considered security features during the development process. Agile methods have the potential to increase productivity and ensure faster delivery of software, although they tend to neglect non‐functional requirements such as security. The implementation of government policies, such as the Nigeria Data Protection Regulation (NDPR) Act 2019, impacts the security activities carried out by agile teams. Despite its significance, there is a paucity of research on security issues especially in the Agile Software Development (ASD) domain. To address this gap, a grounded theory study was conducted with 15 agile software practitioners in Nigeria. Based on our analysis of the interview transcripts, we developed a grounded theory of the security challenges confronting agile practitioners. The four challenges identified were (a) a lack of collaboration between security and agile teams; (b) the tendency to use foreign software hosting companies; (c) a poor cybersecurity culture; and (d) the high cost of building secure agile software. We used these challenges to identify gaps within the existing secure ASD and found a lack of indigenous software hosting companies in Nigeria. Our study also revealed tensions between the Nigerian regulatory environment and agile software developers' compliance. While practitioners acknowledged the government's efforts, there were concerns about the practicality of implementing such legislation. We recommend government action to increase awareness of local software hosting companies' capabilities, and closer collaboration between agile and security teams. Thus, the novel contribution of this article is the development of the policy adherence challenges (PAC) model.