Several studies have examined issues relating to board characteristics and financial reporting timeliness in Nigeria, but none have conducted studies to examine board independence and board size in relation to financial reporting timeliness of non-financial distress likelihood zone firms in Nigeria. This study aims to examined board characteristics as well as financial reporting timeliness of firms in Nigeria. Different variables of board characteristics like board independence as well as board size were examined to determine how they are related to financial reporting ttimeliness. For the purpose of the study to be achieved, twenty-eight (28) distress likelihood zone firms from 2012 to 2021 as it relates to the non-financial firms that are listed on Nigerian Exchange Group (NXG) PLC as at 31st December, 2021 were carefully selected and studied. The panel least squares (PLS) regression was employed in the study and E-view 9.0 packages was used for the analysis of data. The regression analysis revealed a positive as well as a relationship that is significant between board independence and financial reporting timeliness while board size was found to be insignificant and negatively related with financial reporting timeliness of firms in Nigeria. Hence, it is recommended that the presence of independent board and their skills should not be neglected as it is in a better position to make sure financial statements are properly presented and reported for the shareholders to make good decision.
{"title":"BOARD CHARACTERISTICS AND FINANCIAL REPORTING TIMELINESS OF FIRMS IN NIGERIA","authors":"Imuetinyan Eguavoen, Sunday Nosa Ugbogbo, Idris Kadiri","doi":"10.57233/gujaf.v3i2.138","DOIUrl":"https://doi.org/10.57233/gujaf.v3i2.138","url":null,"abstract":"Several studies have examined issues relating to board characteristics and financial reporting timeliness in Nigeria, but none have conducted studies to examine board independence and board size in relation to financial reporting timeliness of non-financial distress likelihood zone firms in Nigeria. This study aims to examined board characteristics as well as financial reporting timeliness of firms in Nigeria. Different variables of board characteristics like board independence as well as board size were examined to determine how they are related to financial reporting ttimeliness. For the purpose of the study to be achieved, twenty-eight (28) distress likelihood zone firms from 2012 to 2021 as it relates to the non-financial firms that are listed on Nigerian Exchange Group (NXG) PLC as at 31st December, 2021 were carefully selected and studied. The panel least squares (PLS) regression was employed in the study and E-view 9.0 packages was used for the analysis of data. The regression analysis revealed a positive as well as a relationship that is significant between board independence and financial reporting timeliness while board size was found to be insignificant and negatively related with financial reporting timeliness of firms in Nigeria. Hence, it is recommended that the presence of independent board and their skills should not be neglected as it is in a better position to make sure financial statements are properly presented and reported for the shareholders to make good decision.","PeriodicalId":131022,"journal":{"name":"Gusau Journal of Accounting and Finance","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-10-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123808789","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Helen Nwobodo, Folajimi Festus Adegbie, Segun Kamoru Fakunmoju
Achieving sound economic growth is one of the major priorities of economic regulators. Nigeria economy majorly built on oil revenue in which unpredictability nature of the oil sector might adversely affected economic growth. Indirect taxes serve as the diversification means of generating revenue for an economy, but Nigeria economy has been characterized with challenges of high level of tax gap, mono-dependent oil revenue generation and weak tax system. These challenges have created problem of poor indirect tax revenue generation and deterioration in Nigeria economic growth rate. The objective of the study is to examine the effect of indirect taxes (VAT) and (CED) as economic revenue diversification on Nigeria economic growth in Nigeria. The study used expost facto research design with focused on RGDP, VAT, CED, interest rate and exchange rate in Nigeria within the period of 1995-2019. Autoregressive Distributed Lag (ARDL) method of analysis was employed, while unit root test was carried out among study variables and results shown that there were mixed levels of stationarity. Finding revealed that the short-run model indicated that CED, INT and EXR were major short-run determinants of Nigeria economic growth, while VAT was not short-run determinants of economic growth. Also, finding established that long run estimates established that, VAT, CED and INT show positive signs, indicating they influence RGDP positively while EXR has negative effect on GDP . The study concludes that both in the short and long runs VAT, CED, INT and EXR affect Nigeria economic growth. The study recommends that for an economy to achieve growth government should ensure that VAT, CED and INT are not highly charged on investors and consumers when buying products and services, acquiring raw materials from other countries, and seeking loan in the bank.
{"title":"INDIRECT TAXES AND ECONOMIC GROWTH OF NIGERIA - THE REVENUE DIVERSIFICATION AGENDA","authors":"Helen Nwobodo, Folajimi Festus Adegbie, Segun Kamoru Fakunmoju","doi":"10.57233/gujaf.v3i2.142","DOIUrl":"https://doi.org/10.57233/gujaf.v3i2.142","url":null,"abstract":"Achieving sound economic growth is one of the major priorities of economic regulators. Nigeria economy majorly built on oil revenue in which unpredictability nature of the oil sector might adversely affected economic growth. Indirect taxes serve as the diversification means of generating revenue for an economy, but Nigeria economy has been characterized with challenges of high level of tax gap, mono-dependent oil revenue generation and weak tax system. These challenges have created problem of poor indirect tax revenue generation and deterioration in Nigeria economic growth rate. The objective of the study is to examine the effect of indirect taxes (VAT) and (CED) as economic revenue diversification on Nigeria economic growth in Nigeria. The study used expost facto research design with focused on RGDP, VAT, CED, interest rate and exchange rate in Nigeria within the period of 1995-2019. Autoregressive Distributed Lag (ARDL) method of analysis was employed, while unit root test was carried out among study variables and results shown that there were mixed levels of stationarity. Finding revealed that the short-run model indicated that CED, INT and EXR were major short-run determinants of Nigeria economic growth, while VAT was not short-run determinants of economic growth. Also, finding established that long run estimates established that, VAT, CED and INT show positive signs, indicating they influence RGDP positively while EXR has negative effect on GDP . The study concludes that both in the short and long runs VAT, CED, INT and EXR affect Nigeria economic growth. The study recommends that for an economy to achieve growth government should ensure that VAT, CED and INT are not highly charged on investors and consumers when buying products and services, acquiring raw materials from other countries, and seeking loan in the bank.","PeriodicalId":131022,"journal":{"name":"Gusau Journal of Accounting and Finance","volume":"495 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116199760","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Examining the effect of the financial performance of organizations has gained importance in the wholesale refinance literature; however, the study investigated determinants of financial performance of listed DMBs in Nigeria for ten years from 2011-2020. The study adopts the correlation design so that to correlate the relationship between variables. The population of this study comprises the Seventeen listed deposit money banks in Nigeria as at 31 December, 2020. A total of thirteen which represent seventy-seven percent of the banks were duly used as sample for the study. The audited annual reports were obtained from Nigerian stock exchange. The result provides evidence Bank size, Capital adequacy ratio and Income diversification have insignificant impact return on assets of the banks. In the determining the effects of moderating impact on firm age is that Capital adequacy ratio, Bank size, Income diversification has a statistically insignificant influence on the return on assets of listed deposit money banks in Nigeria. Based on the findings, the bank management should also continue to put policies and strategies in place to ensure effective management of bank size and efficiency for increased profitability, on the other part, shareholders should ensure management is properly diversified the banks’ income in a way that would yield more revenue and ensure short term cash should not be channeled to capital investment.
{"title":"FIRMS ATTRIBUTES AND FINANCIAL PERFORMANCE ON LISTED DEPOSIT MONEY BANKS IN NIGERIA","authors":"I. Abubakar, Nuraddeen Usman Miko, M. Abdullahi","doi":"10.57233/gujaf.v3i2.141","DOIUrl":"https://doi.org/10.57233/gujaf.v3i2.141","url":null,"abstract":"Examining the effect of the financial performance of organizations has gained importance in the wholesale refinance literature; however, the study investigated determinants of financial performance of listed DMBs in Nigeria for ten years from 2011-2020. The study adopts the correlation design so that to correlate the relationship between variables. The population of this study comprises the Seventeen listed deposit money banks in Nigeria as at 31 December, 2020. A total of thirteen which represent seventy-seven percent of the banks were duly used as sample for the study. The audited annual reports were obtained from Nigerian stock exchange. The result provides evidence Bank size, Capital adequacy ratio and Income diversification have insignificant impact return on assets of the banks. In the determining the effects of moderating impact on firm age is that Capital adequacy ratio, Bank size, Income diversification has a statistically insignificant influence on the return on assets of listed deposit money banks in Nigeria. Based on the findings, the bank management should also continue to put policies and strategies in place to ensure effective management of bank size and efficiency for increased profitability, on the other part, shareholders should ensure management is properly diversified the banks’ income in a way that would yield more revenue and ensure short term cash should not be channeled to capital investment.","PeriodicalId":131022,"journal":{"name":"Gusau Journal of Accounting and Finance","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134559311","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abdullahi D. Ibrahim, Ahmed Hassan Ahmed, Ramalan Murtala Muhammed, Zainab Abdulsalami, Aliyu Ahmed Tanko
The study considered the influence of managerial ownership and debt financing on financial performance of manufacturing firms listed on the Nigerian Stock Exchange. The panel regression model utilized secondary data for a period of ten (10) years to 2020. The study sampled twelve (12) listed manufacturing firms in Nigeria. Findings revealed a negative effect of total debt on financial performance of selected quoted manufacturing firms in the period. The managerial ownership also negatively influences the financial performance of the sampled companies. The results clearly demonstrate that the interaction of debt financing and managerial ownership does not significantly influence the financial performance of listed manufacturing firms in Nigeria implying very weak moderating effect. The study recommends that listed manufacturing firms should consider their retained earnings to finance their operations instead of relying on debt finance, and directors should only own minority shareholding right in their companies as ownership of major shares cannot influence borrowing plans of the business.
{"title":"MODERATING INFLUENCE OF MANAGERIAL OWNERSHIP ON DEBT FINANCING AND FINANCIAL PERFORMANCE OF MANUFACTURING FIRMS QUOTED ON NIGERIAN STOCK EXCHANGE","authors":"Abdullahi D. Ibrahim, Ahmed Hassan Ahmed, Ramalan Murtala Muhammed, Zainab Abdulsalami, Aliyu Ahmed Tanko","doi":"10.57233/gujaf.v3i2.147","DOIUrl":"https://doi.org/10.57233/gujaf.v3i2.147","url":null,"abstract":"The study considered the influence of managerial ownership and debt financing on financial performance of manufacturing firms listed on the Nigerian Stock Exchange. The panel regression model utilized secondary data for a period of ten (10) years to 2020. The study sampled twelve (12) listed manufacturing firms in Nigeria. Findings revealed a negative effect of total debt on financial performance of selected quoted manufacturing firms in the period. The managerial ownership also negatively influences the financial performance of the sampled companies. The results clearly demonstrate that the interaction of debt financing and managerial ownership does not significantly influence the financial performance of listed manufacturing firms in Nigeria implying very weak moderating effect. The study recommends that listed manufacturing firms should consider their retained earnings to finance their operations instead of relying on debt finance, and directors should only own minority shareholding right in their companies as ownership of major shares cannot influence borrowing plans of the business.","PeriodicalId":131022,"journal":{"name":"Gusau Journal of Accounting and Finance","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129043191","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Frankline C.S.A. Okeke, Obiora Peters Emeka, Chinonye B. Ezeilo, Azuka Tina Nwobodo, Ifeoma Gloria Duruzor
Over the years, firms from financial, real estate and construction sectors in Nigeria have been challenged heavily by corporate governance lapses. This seems to have affected major spheres of performance and specifically market stock price of the firms, thereby necessitating investigation into its level of influence. This study assessed how corporate governance practices affected listed businesses in Nigeria's firm performance. The study's goal is to assess the impact of board diversity, independence, size, and ownership on the stock price performance of a sample of Nigerian public companies. In order to achieve this, the study used secondary data, which was based on an ex post facto research strategy and used a pooled data set gathered from sixteen (16) quoted businesses during the period between the 2006 and 2019 financial period. Descriptive statistics, correlation matrices, and robust least squares regression analysis techniques were used to analyze the data that had been gathered. The Agency theory and entrenchment hypothesis served as the study's pillars. The results support the entrenchment hypothesis, which contends that large board ownership percentages have a negative impact on stock price performance. In particular, we discover that the stock price performance of listed companies in Nigeria throughout the study period was negatively impacted by the corporate governance variables of board size and board ownership, both of which are statistically significant at1%, 5%, and 10%. The entrenchment effect, which is already at work among our sample companies, leads us to urge, among other things, that consideration be given to the review of board ownership and size in light of the study's findings.
{"title":"CORPORATE GOVERNANCE MECHANISM AND STOCK PRICE PERFORMANCE: INSIGHTS FROM NIGERIA","authors":"Frankline C.S.A. Okeke, Obiora Peters Emeka, Chinonye B. Ezeilo, Azuka Tina Nwobodo, Ifeoma Gloria Duruzor","doi":"10.57233/gujaf.v3i2.148","DOIUrl":"https://doi.org/10.57233/gujaf.v3i2.148","url":null,"abstract":"Over the years, firms from financial, real estate and construction sectors in Nigeria have been challenged heavily by corporate governance lapses. This seems to have affected major spheres of performance and specifically market stock price of the firms, thereby necessitating investigation into its level of influence. This study assessed how corporate governance practices affected listed businesses in Nigeria's firm performance. The study's goal is to assess the impact of board diversity, independence, size, and ownership on the stock price performance of a sample of Nigerian public companies. In order to achieve this, the study used secondary data, which was based on an ex post facto research strategy and used a pooled data set gathered from sixteen (16) quoted businesses during the period between the 2006 and 2019 financial period. Descriptive statistics, correlation matrices, and robust least squares regression analysis techniques were used to analyze the data that had been gathered. The Agency theory and entrenchment hypothesis served as the study's pillars. The results support the entrenchment hypothesis, which contends that large board ownership percentages have a negative impact on stock price performance. In particular, we discover that the stock price performance of listed companies in Nigeria throughout the study period was negatively impacted by the corporate governance variables of board size and board ownership, both of which are statistically significant at1%, 5%, and 10%. The entrenchment effect, which is already at work among our sample companies, leads us to urge, among other things, that consideration be given to the review of board ownership and size in light of the study's findings.","PeriodicalId":131022,"journal":{"name":"Gusau Journal of Accounting and Finance","volume":"52 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117354901","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Adamu Usman Abubakar, Abdulmalik Mohammed Yusuf, Muhammad Hamisu Yau
This paper analysed the level of customers’ awareness about unique Islamic banking products in Nigeria. The data used for the study was obtained through the distribution of well-structured questionnaires among the Islamic banking customers in which out of 400 sampled respondents, 370 questionnaires were properly filled and returned (that is, a 92.5% response rate) for further analysis. Also, to ensure proper data triangulation in this research, a semi-structured interview was conducted among the Jaiz Bank officials. Using descriptive statistics, the result indicated more than 50% of the customers were not aware of such unique products, though the level of this awareness differs from one product to another as some customers have had practical experience with some of these products like in case of murabahah and ijara. Therefore, the study recommends that, improving information dissemination about Islamic banking products will go a long way in enhancing the consumers’ perception and adoption of this unique system of banking, which will eventually make more individuals to be financially included due to the spiritual, economic and ethical considerations of Islamic financial system.
{"title":"ISLAMIC BANKING RODUCTS AWARENESS AMONG ISLAMIC BANKS’ CUSTOMERS IN NORTHEN NIGERIA","authors":"Adamu Usman Abubakar, Abdulmalik Mohammed Yusuf, Muhammad Hamisu Yau","doi":"10.57233/gujaf.v3i2.143","DOIUrl":"https://doi.org/10.57233/gujaf.v3i2.143","url":null,"abstract":"This paper analysed the level of customers’ awareness about unique Islamic banking products in Nigeria. The data used for the study was obtained through the distribution of well-structured questionnaires among the Islamic banking customers in which out of 400 sampled respondents, 370 questionnaires were properly filled and returned (that is, a 92.5% response rate) for further analysis. Also, to ensure proper data triangulation in this research, a semi-structured interview was conducted among the Jaiz Bank officials. Using descriptive statistics, the result indicated more than 50% of the customers were not aware of such unique products, though the level of this awareness differs from one product to another as some customers have had practical experience with some of these products like in case of murabahah and ijara. Therefore, the study recommends that, improving information dissemination about Islamic banking products will go a long way in enhancing the consumers’ perception and adoption of this unique system of banking, which will eventually make more individuals to be financially included due to the spiritual, economic and ethical considerations of Islamic financial system.","PeriodicalId":131022,"journal":{"name":"Gusau Journal of Accounting and Finance","volume":"60 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128633328","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This research attempts to investigate how corporate board structure affects the financial performance of Nigerian pharmaceutical companies that are publicly traded. The study discovered that female directors, institutional directors, and non-executive directors have a strong significant impact on the profitability of the sampled pharmaceutical firms in Nigeria during the period covered by the study using multiple regression technique. The study used a correlational research design and a panel regression technique of data analysis on a sample of seven pharmaceutical firms for a period of ten years (2012-2020). The research found that, the size of the board of directors had no discernible effect on the selected firms' profitability. According to the research, institutional directors have a positive effect on the profitability of Nigeria's publicly traded pharmaceutical businesses, whereas female directors and non-executive directors have a negative impact on the profitability of their organizations. According to the research, a big board does not always increase a company's profitability. Therefore, management and the board of directors of pharmaceutical companies in Nigeria are advised to reduce the size of their boards to a maximum of six members. Additionally, it was advised that the number of institutional directors on the boards of Nigerian pharmaceutical companies that are publicly traded be expanded since their presence contributes to rising profits. The report's conclusion urges policymakers and other interested parties to start a process to limit the number of women who may serve as directors on the boards of publicly traded pharmaceutical companies in Nigeria since their participation does not increase profitability.
{"title":"BOARD STRUCTURE AND FINANCIAL PERFORMANCE OF LISTED PHARMACEUTICAL FIRMS IN NIGERIA","authors":"Hauwa Aliyu Ndayako, Nurudeen Jimoh, Halima Shuaibu","doi":"10.57233/gujaf.v3i2.140","DOIUrl":"https://doi.org/10.57233/gujaf.v3i2.140","url":null,"abstract":"This research attempts to investigate how corporate board structure affects the financial performance of Nigerian pharmaceutical companies that are publicly traded. The study discovered that female directors, institutional directors, and non-executive directors have a strong significant impact on the profitability of the sampled pharmaceutical firms in Nigeria during the period covered by the study using multiple regression technique. The study used a correlational research design and a panel regression technique of data analysis on a sample of seven pharmaceutical firms for a period of ten years (2012-2020). The research found that, the size of the board of directors had no discernible effect on the selected firms' profitability. According to the research, institutional directors have a positive effect on the profitability of Nigeria's publicly traded pharmaceutical businesses, whereas female directors and non-executive directors have a negative impact on the profitability of their organizations. According to the research, a big board does not always increase a company's profitability. Therefore, management and the board of directors of pharmaceutical companies in Nigeria are advised to reduce the size of their boards to a maximum of six members. Additionally, it was advised that the number of institutional directors on the boards of Nigerian pharmaceutical companies that are publicly traded be expanded since their presence contributes to rising profits. The report's conclusion urges policymakers and other interested parties to start a process to limit the number of women who may serve as directors on the boards of publicly traded pharmaceutical companies in Nigeria since their participation does not increase profitability.","PeriodicalId":131022,"journal":{"name":"Gusau Journal of Accounting and Finance","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125277522","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Bashiru Iliyasu Danmulki, Eniola Samuel Agbi, Lateef O. Mustapha
The study investigates the effect of liquidity management on financial performance of listed deposit money banks in Nigeria. Liquidity management was measured and proxy with capital adequacy ratio, liquidity ratio and loan to deposit ratio, however financial performance was proxy with Tobin’s Q. Secondary data source was utilized and it was extracted via the audited published annual reports and accounts of the banks selected covering the period from 2010-2019. Panel multiple regression technique was adopted as the technique of data analysis, while Stata 13 was used as the tool for analysis of data. Robustness tests which include heteroscedasticity, multicollinearity and normality test of standard error were conducted. Findings revealed that capital adequacy ratio have positive and significant effect on financial performance of listed deposit money banks in Nigeria. Liquidity ratio has significant but negative effect on financial performance of banks in Nigeria which connotes that high level of liquidity ratio will lead to low level of performance strategically for banks. Loan to deposit ratio has positive but insignificant effect on financial performance. It is therefore recommended that management of board should pursue increased capital with the Central Bank of Nigeria and the CBN should also make sure that banks met and continually meet the requirements in respect of capital adequacy before giving the license to operate. The management of the banks should ensure that most idle cash are investment into short term portfolios to attract higher returns which will eventually increase the value of the banks.
{"title":"LIQUIDITY MANAGEMENT AND FINANCIAL PERFORMANCE OF LISTED DEPOSIT MONEY BANKS IN NIGERIA","authors":"Bashiru Iliyasu Danmulki, Eniola Samuel Agbi, Lateef O. Mustapha","doi":"10.57233/gujaf.v3i2.144","DOIUrl":"https://doi.org/10.57233/gujaf.v3i2.144","url":null,"abstract":"The study investigates the effect of liquidity management on financial performance of listed deposit money banks in Nigeria. Liquidity management was measured and proxy with capital adequacy ratio, liquidity ratio and loan to deposit ratio, however financial performance was proxy with Tobin’s Q. Secondary data source was utilized and it was extracted via the audited published annual reports and accounts of the banks selected covering the period from 2010-2019. Panel multiple regression technique was adopted as the technique of data analysis, while Stata 13 was used as the tool for analysis of data. Robustness tests which include heteroscedasticity, multicollinearity and normality test of standard error were conducted. Findings revealed that capital adequacy ratio have positive and significant effect on financial performance of listed deposit money banks in Nigeria. Liquidity ratio has significant but negative effect on financial performance of banks in Nigeria which connotes that high level of liquidity ratio will lead to low level of performance strategically for banks. Loan to deposit ratio has positive but insignificant effect on financial performance. It is therefore recommended that management of board should pursue increased capital with the Central Bank of Nigeria and the CBN should also make sure that banks met and continually meet the requirements in respect of capital adequacy before giving the license to operate. The management of the banks should ensure that most idle cash are investment into short term portfolios to attract higher returns which will eventually increase the value of the banks.","PeriodicalId":131022,"journal":{"name":"Gusau Journal of Accounting and Finance","volume":"22 3","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131894799","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Ibilola Olaniun, Nurudeen Jimoh, Halima Shuaibu, Yazid Kabir Ibrahim
The study examines the effect of tax aggressiveness on the financial performance of listed industrial goods firms in Nigeria. The population of the study is made up of the entire listed industrial goods firms in Nigeria. Sample of 10 firms were selected using a census sampling technique and data were collected using secondary sources of data collection from the annual report and accounts of the selected firms. Data for the study were analyse using descriptive and inferential methods of data analyses using STATA 13 statistical software. Findings of the study revealed that GAAP effective tax rate has significant positive effect on return on assets. On the other hand, cash effective tax rate has negative significance effect on return on assts. Based on this, the study concludes that Tax aggressiveness has significance effect on financial performance of listed industrial goods firms in Nigeria and therefore recommends that industrial goods firms should utilized the tax planning opportunities available to them so as to minimize their tax liabilities and improve their performance.
{"title":"TAX AGGRESSIVENESS AND FINANCIAL PERFORMANCE OF LISTED INDUSTRIAL GOODS FIRMS IN NIGERIA","authors":"Ibilola Olaniun, Nurudeen Jimoh, Halima Shuaibu, Yazid Kabir Ibrahim","doi":"10.57233/gujaf.v3i2.146","DOIUrl":"https://doi.org/10.57233/gujaf.v3i2.146","url":null,"abstract":"The study examines the effect of tax aggressiveness on the financial performance of listed industrial goods firms in Nigeria. The population of the study is made up of the entire listed industrial goods firms in Nigeria. Sample of 10 firms were selected using a census sampling technique and data were collected using secondary sources of data collection from the annual report and accounts of the selected firms. Data for the study were analyse using descriptive and inferential methods of data analyses using STATA 13 statistical software. Findings of the study revealed that GAAP effective tax rate has significant positive effect on return on assets. On the other hand, cash effective tax rate has negative significance effect on return on assts. Based on this, the study concludes that Tax aggressiveness has significance effect on financial performance of listed industrial goods firms in Nigeria and therefore recommends that industrial goods firms should utilized the tax planning opportunities available to them so as to minimize their tax liabilities and improve their performance.","PeriodicalId":131022,"journal":{"name":"Gusau Journal of Accounting and Finance","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2022-04-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124552654","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
In recent time the Central Banks cross the globe employ a range of avenues to communicate their monetary policy decisions and explain to financial markets and the general public the reason for their policy actions. This communication, in turn, gives signals to the financial markets regarding the future trajectories of governmental activities. This study therefore investigated the sensitivity of interest rate to MPC communication from 1st January, 2010 to 30th June, 2020 in Nigera. Series of test were carryout and EGARCH was chosen as the appropriate techniques in which dummy variable was used to capture the meeting days in the variance equation. Data of monetary policy were sourced from CBN website. The results of an EGARCH model show that the communications between Central Bank and the money market are considerably informative and therefore assist to reduce market interest rates' volatility. The study has so concluded that the communication from the Central Bank of Nigeria has an impact on the desired direction of interests. One policy implication of this conclusion is that it is clear enough about the desired policy orientation for the future that CBN communique substance of MPC meetings will guide the market in the proper way. This is consistent with the literature that if Central Bank opens the foundations for monetary policy implementation up to the markets, it raises the odds of controlling agents' expectations. Therefore the study recommends that the meeting should be sustained.
{"title":"INTEREST RATE RESPONSES TO MONETARY POLICY COMMITTEE MEETINGS/COMMUNIQUE IN NIGERIA","authors":"M. Abdulganiyu, Hussaini Dambo","doi":"10.57233/gujaf.v2i3.163","DOIUrl":"https://doi.org/10.57233/gujaf.v2i3.163","url":null,"abstract":"In recent time the Central Banks cross the globe employ a range of avenues to communicate their monetary policy decisions and explain to financial markets and the general public the reason for their policy actions. This communication, in turn, gives signals to the financial markets regarding the future trajectories of governmental activities. This study therefore investigated the sensitivity of interest rate to MPC communication from 1st January, 2010 to 30th June, 2020 in Nigera. Series of test were carryout and EGARCH was chosen as the appropriate techniques in which dummy variable was used to capture the meeting days in the variance equation. Data of monetary policy were sourced from CBN website. The results of an EGARCH model show that the communications between Central Bank and the money market are considerably informative and therefore assist to reduce market interest rates' volatility. The study has so concluded that the communication from the Central Bank of Nigeria has an impact on the desired direction of interests. One policy implication of this conclusion is that it is clear enough about the desired policy orientation for the future that CBN communique substance of MPC meetings will guide the market in the proper way. This is consistent with the literature that if Central Bank opens the foundations for monetary policy implementation up to the markets, it raises the odds of controlling agents' expectations. Therefore the study recommends that the meeting should be sustained.","PeriodicalId":131022,"journal":{"name":"Gusau Journal of Accounting and Finance","volume":"59 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121748582","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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