Companies In Nigeria Research Articles

Effect of Liquidity and Profitabilty on Value Relevance of Listed Financial Companies in Nigeria

Effect of Liquidity and Profitabilty on Value Relevance of Listed Financial Companies in Nigeria

IFRS ADOPTION AND EARNINGS MANAGEMENT PRACTICES: EVIDENCE FROM NIGERIAN LISTED CONSUMER GOODS COMPANIES

Earnings Management, discretionary accruals, IFRS adoption, consumer goods firms, Nigeria. The study looked at earnings management practices in Nigerian consumer goods firms between pre and post-adoption of IFRS and earnings management in Nigeria. It involved twenty-one Nigerian firms in the Nigeria Exchange Group, with nine being sampled due to data availability. The Modified Jones Model, a well-known profits management model created by Dechow, Sloan, and Sweeney in 1995, was used. This research examined how IFRS has affected the way companies in Nigeria control their earnings from 2012 to 2022. The study examined earnings management practices in Nigerian consumer goods companies using an ex-post facto research design and non-parametric tests. Results showed no significant change in earnings management practices due to the adoption of IFRS.

Financial Strategy and Corporate Performance Growth of Selected Food and Beverages Manufacturing Companies in Nigeria

Aim/Objective: In the course of the study, the main objectives of the study was to determine the effect of financial strategy (strategy of investing in company assets, strategy of acquisition of capitals, strategy of redistribution of profit) on corporate performance growth (profitability, innovation, corporate culture attitude) of selected food and beverages manufacturing companies in Nigeria.
 Methodology: The four selected food and beverages manufacturing companies in Nigeria made up the study’s population. With a total number of 168 staffs, the study population involved both the middle and top management. The study adopted purposive sampling technique which is the deliberate choice of a researcher due to the qualities of information it possesses. Primary data was used for the purpose of this study. Regression analysis was also used for data analysis.
 Findings: The result of the analysis reveal that: (i) with the result of hypothesis one; the regression estimates results revealed that strategy of investing in company assets has significant effect on profitability (T-test = 1.922, p = 0.043). (ii) for hypotheses two, regression estimates results revealed that strategy of acquisition of capitals has significant effect on innovation (T-test = 2.973, p = 0.004). (iii) for hypotheses three, regression estimates results revealed that strategy of redistribution of profit has significant effect on corporate culture attitude (T-test = 1.447, p = 0.025).
 Research Limitations/Implications: Restrictions point to the limitations that analysts experience when conducting research. When analyzing the effect of financial strategy on corporate performance growth, the analyst experiences some limitations in this consideration, such as limited test measurement, etc.
 Originality/Value: No research was found regarding the financial strategy and corporate performance growth during the time period of 2023.
 Conclusion: The study concluded that there is a positive significant effect between financial strategy and corporate performance growth of selected food and beverages manufacturing companies in Nigeria.

AN INTERACTION BETWEEN BOARD ATTRIBUTES AND EARNINGS MANAGEMENT OF LISTED MANUFACTURING COMPANIES IN NIGERIA

The study investigated an interplay between board attribute and earnings management of listed manufacturing companies in Nigeria. This study tested some board attributes indicators (audit fee, board independence, and board size), and earnings management was proxied using discretionary accruals using a sample of forty-two (42) manufacturing companies listed on Nigerian Exchange Group while purposeful sampling techniques were used to sampled from the population, covering the study period from 2010 to 2021. The data were analyzed using the Generalized method of moment by the use of E-View 12 econometric software and multivariate- regression model. The findings of the study show that there is a positive and statistically insignificant relationship between audit fees and earnings management. The study therefore concludes that a positive and statistical relationship exists between board attributes and earnings management of listed manufacturing companies in Nigeria. The study consequently recommends that ethical standards should be encouraged by the regulatory agencies if not mandated.

Managerial Dynamics as a Deciding factor for Corporate Social Disclosures among Quoted Manufacturing Companies in Nigeria

The continuous growth and expansion in the global economy with its attendant consequences on the environment and society have necessitated the increasing push by stakeholders for companies’ world over to disclose their social impacts on society. Consequently, the persistent increase in the demand for increase in social information has resulted to loss of credibility by stakeholders in the annual report of companies. The Nigerian business climate is no exception to this dilemma which serves as motivation for this research. Hence, this study investigates the extent to which managerial efficiency influences corporate social disclosures among listed Manufacturing companies in Nigeria. Using Krejcie and Morgan sample selection criteria, the sample size for the ex-post factor research design with a population of seventy-six (76) listed industrial businesses was sixty-three (63). However, because of irregular company listings and inadequate data availability, only forty-nine (49) of the companies were chosen to be included in the sample size spanning seven (7) sectors. Data were analyzed using Panel Corrected Standard Error Estimation. The results showed a significant level of 0.000 and a positive correlation of 0.019 between management effectiveness and corporate social disclosure of Nigerian listed industrial companies. Consequently, the study unquestionably showed that while managerial performance is beneficial, corporate social disclosure is significantly impacted by it. Therefore, the study suggested that the Nigeria Exchange Group (NGX) should implement additional regulations and controls to guarantee that all listed manufacturing companies continue to disclose information on product responsibility, human rights, and the social impact of manufacturing operations.

Firm Structural Attributes and Capital Structure Adjustments among Listed Manufacturing Firms in Nigeria using Static and Dynamic Approaches

The study examined the effect of firm structural attributes on capital structure adjustments of Nigerian listed manufacturing companies. Out of the 56 listed firms 35 listed manufacturing firms were selected using the purposive sampling approach. Dynamic and static estimation techniques were applied. The results from both static and dynamic panel data revealed that assets tangibility had a positive and significant effect on capital structure adjustments with (t= 4.463; t = 2.965; p <0.05). Non-debt tax shields (t= -2.831; t= -4.478; p <0.05) had negative but significant effect on capital structure adjustments. Furthermore, static result showed that firm size (t= -5.617; p <0.05) had negative but significant while dynamic results revealed firm size (t=6.956; P<0.05) had a positive and significant effect on capital structure adjustments. This study concluded that structural attributes serve as firm-level determinants to understanding of factors influencing the capital structure and speed of adjustments of listed companies in Nigeria. It was recommended that management of firms need to expand in size and investing in tangible assets to enhance their profit level, this will enable them to enjoy large profit levels with a large reduction in debt ratio.

Board Attributes and Performance of Financial and Non-Financial Companies in Nigeria

Board Attributes and Performance of Financial and Non-Financial Companies in Nigeria

Sustainability Disclosure and Market Value of Quoted Oil and Gas Companies in Nigeria

This study has been carried out to examine disclosure and market value of quoted oil and gas companies in Nigeria. The Nigerian oil and gas industry plays a crucial role in fostering economic growth and development. This research employed an ex-post facto research design, with the study population comprising eight (8) publicly listed oil and gas companies on the Nigerian Exchange Group (NEG) as of December 31, 2022. A purposive sampling technique was utilized to select a sample size of seven (7) companies based on data availability. The study spanned from 2012 to 2021, and data were extracted from the annual reports and accounts of the sampled companies on the NEG. Descriptive and inferential statistics were applied to analyze the data, with the testing of hypotheses conducted through panel data regression analysis employing robust cluster standard error. The findings revealed that environmental cost disclosure had a negative and significant impact on market value, while community development cost disclosure had a negative and insignificant effect on the market value of the oil and gas companies. The study concluded that caution should be exercised in disclosures to prevent adverse effects on the firm's market value. Additionally, it recommended that disclosures be closely monitored to avoid negative impacts on the company's market value.

EFFECTIVENESS OF RISK MANAGEMENT IN NIGERIA’S MANUFACTURING ENTERPRISES

This study seeks to examine the effectiveness of enterprise risk management (ERM) implementation in the Nigerian manufacturing sector. The objective of this study is to analyze the risks faced by manufacturing firms in Nigeria and to recommend actions to address and reduce anticipated hazards. This research used both inferential and descriptive statistics to examine the effectiveness of ERM application in Nigeria’s manufacturing sector. The data for this study were collected from the financial statements of manufacturing firms and other relevant publications by manufacturing firms in Nigeria from 2016 to 2020. The study found that ERM has a positive relationship with financial performance indicators such as return on investment, dividend, earnings per share, market capitalization, price earnings ratio, and dividend per share. The study recommends that manufacturing companies in Nigeria should implement ERM as an ongoing activity to improve their risk management practices, enhance their effectiveness, and ensure their long-term sustainability. This study contributes to the literature on ERM implementation in the Nigerian manufacturing sector and provides valuable insights for policymakers, regulators, and business managers.

Corporate governance and financial reporting quality of construction companies in Nigeria

This study seeks to examine corporate governance and financial reporting quality of construction companies quoted on the Nigerian Stock Exchange for the period 2016 to 2020. Corporate governance mechanism was proxies by board size, board composition and audit committee composition. Data were collected from annual financial statement of the companies for the study period and analyzed using descriptive statistics, Correlation analysis and Regression analysis by using E-views9 software. The result indicated that board composition and audit committee had positive and significant effect on the financial reporting quality of construction companies. While, board size has a negative and significant effect on financial reporting quality of construction companies. This shows that corporate governance has significant impact on the financial reporting quality of quoted construction companies. The study recommended that strategy need to be developed in order to ensure adherence to corporate governance codes in construction companies, so as to ensure the presentation of articulated, encompassing financial statements.

Sustainability Disclosure and Information Asymmetry of Listed Industrial Companies in Nigeria

Sustainability Disclosure and Information Asymmetry of Listed Industrial Companies in Nigeria

Corporate Governance Attributes and Financial Performance of Listed Industrial Goods Companies in Nigeria

This study investigates the relationship between corporate governance attributes and the financial performance of listed industrial goods companies in Nigeria. The specific objectives of the study were to determine whether corporate governance attributes – board size, board composition, and board committee have any effect on the financial performance of listed industrial goods companies in Nigeria. An ex-post facto research design was used. The study used secondary data from the financial statements and annual reports of the quoted industrial goods companies for the relevant years under consideration (2018-2022). The study, which uses the panel least square regression technique, discovered that the return on assets of listed industrial goods companies in Nigeria is not significantly impacted by the size of the board. The make-up of the board significantly improves the return on assets of Nigerian-listed industrial goods businesses. However, it was discovered that the board committee had no appreciable favorable impact on the return on assets. The present study shows that the financial performance of listed industrial goods businesses in Nigeria is positively impacted by corporate governance. The study concluded that the regulatory body should keep improving regulations that reinforce the makeup of the board of directors based on its results.

Intellectual Capital Value Addition and the Efficient Assets Management of Listed Manufacturing Firms in Nigeria

Abstract Research background One crucial area that has not received good research attention is intellectual property. Even organizations engage the services of recruiting firms to get the best labour, and some workers earn more than others. But intellectual value addition is not ascertained. Purpose The goal of this study is to examine the effect of intellectual capital value addition on the efficient asset management of manufacturing firms in Nigeria. Research methodology Data was sourced from the published annual accounts of 24 manufacturing firms. The VAIC was adapted to measure Intellectual capital value addition which is the predictor variable, while Return on Assets was used as a determinant of efficient assets management. The ordinary least square regression of the panel data was used to test the hypothesis. Result The outcome of the regression revealed that HC is a determinant of ROA with a co-efficient of regression and a significant value of (0.102 > 0.5). SC has an adverse and noteworthy influence on ROA as indicated (–0.046 > 0.05) while CEE has a positive and significant influence on ROA (0.825 > 0.50). The paper affirmed that a weighty and constructive relationship exists amid intellectual capital and efficient assets management of the manufacturing companies and endorsed that listed manufacturing businesses in Nigeria should efficiently and effectively manage intellectual capital. Novelty This has contributed to extant literature as it’s the first study to investigate the effect of intellectual capital addition on efficient assets management in listed manufacturing companies in Nigeria. There is no study of this nature in Nigeria that has successfully adopted VAIC and it has proved that corporations consider hiring the best-skilled labour because of its contribution which improves the performance of such business. Again, this study covered 240 firm years, that is, ten years each of twenty-four companies, which no other previous study has done.

TECHNOLOGY ACCEPTANCE MODEL (TAM) FOR PHARMACEUTICAL MARKETING EXECUTIVES: VALIDATION AND IMPLICATIONS FOR HUMAN RESOURCE MANAGEMENT

The technology acceptance model (TAM) is a popular measure of user adoption and acceptance of technology. The pharmaceutical marketing industry has largely incorporated technology-based applications to enhance operational efficiency, effectiveness, and client engagement in the past decade. No study has explored user acceptance by pharmaceutical executives in the context of technology's impact on performance. The study aims to explore the relationship between perceived ease of use (PEOU), perceived usefulness (PU), and behavioral intention (BIU) in the context of the perceived impact of technology on performance (TechIMP). Hypotheses were tested using factor-based structural equation modeling. A random sample of 282 marketing executives was drawn from pharmaceutical companies in Nigeria using an online questionnaire. The developed model provided acceptable measures of fit and validity. Significant positive relationships exist between PEOU, PU, and BIU, explaining 58% of the variance in TechIMP. PEOU had a stronger impact on BIU compared to PU. BIU was a significant link between PEOU and PU to TechIMP. Multigroup analysis showed key differences between male and female executives. The study adds to the existing literature by extending TAM to include TechIMP. Managers should enhance positive user perception and acceptance by engaging in simulated training before introducing new technology and ensuring flexibility of technology use.

The Role of Business Ethics and Forensic Accounting Techniques in Promoting Financial Statements Integrity among Private and Public Companies in Nigeria

The Role of Business Ethics and Forensic Accounting Techniques in Promoting Financial Statements Integrity among Private and Public Companies in Nigeria

The Dimensional Effect of Optimal Project Risk Management Practices on Project Quality of Selected Construction Companies in Nigeria

In the construction industry, ensuring high-quality standards is a critical aspect of construction projects and plays a pivotal role in the sustained viability and triumph of contemporary construction companies. However, existing literature highlights the persistently subpar levels of project quality within the construction sector. This situation is manifested through cost overruns, time delays, deficient project definition, and fluctuations in project scope, which are indicative of insufficient project risk management practices. Although several studies have examined project risk management practices, little emphasis has been placed on evaluating their impact on quality in the construction industry. Hence, this study examined the dimensional effect of optimal project risk management practices on project quality of selected construction companies in Nigeria. Survey research design was adopted. The population was 202 top management and mechanical department staff of three selected construction companies in Lagos State, Rivers State, and the Federal Capital Territory of Abuja, Nigeria. A sample size of 176 was found to be usable. A validated questionnaire was adopted for data collection. Cronbach’s alpha reliability coefficients for the constructs ranged from 0.74 to 0.98. The response rate was 87.1%. Data were analyzed using the Smart partial least squares structural equation modeling (PLS-SEM) software, which allowed for the testing of path analysis and hypotheses. A confirmatory factor analysis (CFA) was employed to assess the factor loading of the variables. Findings indicated that project risk management practices had significant effect on project quality of selected construction companies in Nigeria (Adj R2 = 0.54, F2 = 0.058, Q2 = 0.507, p < 0.05). The study concluded that project risk management practices improved the quality of the selected construction companies in Nigeria. The study recommended that project managers should establish and implement effective quality management systems that outline clear processes and procedures for ensuring project quality. Develop quality control plans that include inspection, testing, and monitoring activities throughout the project lifecycle. Incorporate quality management standards and best practices, such as ISO 9001, to enhance quality assurance processes.

Moderating Impact of Inflation Rate on the Relationship Between Capital Structure and Financial Performance of Nigerian Consumer Goods Companies

The study looked at the relationship between listed consumer companies in Nigeria's capital structure and financial performance, as well as the moderating effect of inflation. While debt to equity was utilised as a capital structure variable, return on asset (ROA) was used as a gauge of financial success. The 13 sampled organisations' audited annual reports covering the 10-year period from 2013 to 2022 were where the study's data came from. Robust fixed effect regression was used in the study as a method of analysis and hypothesis testing. The outcome demonstrates that inflation has a negative moderating effect on capital structure and ROA as well as a negative and significant negative impact on return on assets. According to the study's findings, high leverage businesses in Nigeria's consumer goods industry will struggle financially. The negative impact of debt in the capital structure on the financial performance of listed consumer goods firms in Nigeria is also exacerbated by inflation. According to the report, management of publicly traded consumer goods companies should evaluate their capital structure in light of rising inflation and develop a comprehensive financial strategy that takes their long-term goals and objectives into account. This could entail managing debt levels, optimising capital structure, and giving investments with long-term returns first priority.

Assets Impairment Disclosure (IAS 36) and Real Earnings Management Practices of Listed Consumer Goods Companies in Nigeria

Assets Impairment Disclosure (IAS 36) and Real Earnings Management Practices of Listed Consumer Goods Companies in Nigeria

Human Resource Demand Forecast and Resilience of Multinational Oil and Gas Producing Companies in Nigeria

Human Resource Demand Forecast and Resilience of Multinational Oil and Gas Producing Companies in Nigeria

Environmental Management Accounting and Stakeholders Perspective: A Theoretical Perspective

This paper focus on the theoretical perspective of environmental management accounting theory and practices and derive into how this principle can impact on the financial performance of companies particularly in an emerging economy. This study will critically examine the various principles on environmental management accounting and how focus on the Nigerian Oil and Gas Companies in Nigeria because these companies are the major causes of environmental pollution and degradation in the Nigeria’s Niger Delta Region. This paper examined existing literature on the environmental management accounting theory discussions, identified the critical features of the theory that are relevant to this paper and robustly discuss the benefits and advantages of adopting environmental management accounting principles in the accounting processes of the strategic assets, oil and gas in Nigeria. This study spanned the years 1999 through 2023 where these important tools can be vital to the understanding of the various economic cycle and significant instruments for effective decisions regarding investment, monetary and fiscal policy. The periods experienced critical economic shocks such as credit boom, a financial recession, a rebound, and strong economic expansion. Furthermore, the period covered the increase demand by stakeholders of the environmental management accountability of the Oil and Gas Companies. In this study piece, a systematic literature review (SLR) was performed, and the research revealed crucial environmental management accounting theory analysis to enable this paper identify suitable articles and journals. A SLR was performed using a sample of 100 research articles chosen from a pool of 400 papers obtained from Scopus, Web of Science, Google Scholar, ABS journal and, among other sources. As a result of the review, the paper recommended that the rigorous implementation of environmental management accounting in the accounting process of Oil and Gas Companies in Nigeria. Finally, authorities should adopt laws and regulations to ensure that Nigerian oil and gas corporations understand the need of incorporating environmental and operational performance into long-term strategic goals.