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SUSTAINABILITY REPORTING AND FINANCIAL PERFORMANCE OF LISTED OIL AND GAS FIRMS IN NIGERIA 尼日利亚上市石油和天然气公司的可持续发展报告和财务业绩
Pub Date : 2021-04-21 DOI: 10.57233/gujaf.v2i3.76
Yazid Kabir Ibrahim, Ahmed Nma Mohammed, Samuel Eniola Agbi, Nasiru Abdussalam Kaoje, Umar Farouk Abdulkarim
Sustainability report is a report produced by firms which disclose their economic, environmental and social performance. These reports are normally geared toward the attainment of the United Nations sustainable development goals (SDGs). Even though compliance is voluntary in Nigeria, its effects on firm’s financial performance are enormous and as a result, it is essential for firm’s prosperity as well as better financial performance. This study examines the effect of sustainability reporting on financial performance of quoted Nigerian oil and gas firms. The population of the study comprises 12 listed oil and gas firms in Nigeria. Census sampling technique was adopted and filter was used. For firm to be selected it must be listed on or before 1st January 2009 and remain listed up to 31st December 2019. The firm must also publish their annual reports for the relevant period of the study. Based on these, five firms that failed to meet the set criteria were filtered out. This study makes use of Return on Asset to measure financial performance. Secondary source was used to collect the relevant data. Data in relation to sustainability reporting were extracted from the firm’s annual reports as well as standalone sustainability reports. However, data in relation financial performance were collected from the firm’s annual reports. Data for this study were analyse using STATA 13 statistical software. The regression result revealed that economic sustainability has a positive insignificant effect on ROA; environmental sustainability has a positive significant effect on ROA while social sustainability has a positive insignificant effect on ROA. Based on the findings, this study therefore, concludes that sustainability reporting has a significant effect on the financial performance of listed oil and gas firms in Nigeria. This study therefore, recommends among others that, listed Nigerian oil and gas firms should emphasize more on reporting their sustainability activities as it is capable of improving their financial performance. The policy makers and standard setting organisations should facilitate the issuance of a sector specific reporting guidelines to facilitate compliance.
可持续发展报告是企业披露其经济、环境和社会绩效的报告。这些报告通常旨在实现联合国可持续发展目标(sdg)。尽管在尼日利亚,合规是自愿的,但它对公司财务业绩的影响是巨大的,因此,它对公司的繁荣和更好的财务业绩至关重要。本研究考察了可持续发展报告对尼日利亚石油和天然气上市公司财务绩效的影响。研究对象包括尼日利亚12家上市石油和天然气公司。采用普查抽样技术和滤波技术。被选中的公司必须在2009年1月1日或之前上市,并在2019年12月31日之前保持上市。公司还必须公布研究相关期间的年度报告。在此基础上,五家未能达到既定标准的公司被淘汰。本研究使用资产收益率来衡量财务绩效。使用二手资料收集相关数据。有关可持续发展报告的数据摘自公司的年度报告以及独立的可持续发展报告。然而,有关财务业绩的数据是从公司的年度报告中收集的。本研究数据采用STATA 13统计软件进行分析。回归结果显示,经济可持续性对资产收益率有显著的正向影响;环境可持续性对资产收益率的影响为正显著,而社会可持续性对资产收益率的影响为正不显著。基于这些发现,本研究因此得出结论,可持续发展报告对尼日利亚上市石油和天然气公司的财务绩效有显著影响。因此,本研究建议,除其他外,尼日利亚上市石油和天然气公司应更多地强调报告其可持续性活动,因为这能够改善其财务绩效。政策制定者和标准制定组织应促进发布特定行业的报告指南,以促进合规。
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引用次数: 1
MODERATING EFFECT OF LEVERAGE ON THE VALUE RELEVANCE OF ACCOUNTING INFORMATION IN THE NIGERIAN LISTED OIL AND GAS FIRMS 杠杆对尼日利亚油气上市公司会计信息价值相关性的调节作用
Pub Date : 2020-04-20 DOI: 10.57233/gujaf.v1i1.19
A. Abubakar, Muhammad Yusuf Shuaibu, Adamu Magaji
The study investigates the moderating effect of leverage on the value relevance of accountinginformation in the Nigerian listed oil and gas firms. The study used correlational research designand the data was extracted from the published annual financial reports of the firms for theindependent variables and the moderator. On the other hand, the data for the dependent variable(share prices) was collected from Nigerian stock exchange website. A sample size of 6 firms wereused for a period of eight years (2011-2018). The data was analysed using multiple regressionanalysis. Findings from the analysis showed that earnings per share, and leverage to be valuerelevant. Additionally, book value per share moderated with leverage was value relevant in additionto earnings per share moderated with leverage as well. Based on the findings, the study recommendsthat listed oil and gas firms in Nigeria should strategize to improve their earnings, Moreover, theyshould also find way of managing their book value, as any unnecessary investment means negativeeffect on share price. Additionally, listed oil and gas firms should maintain an appropriate level ofleverage so that the cheap cost of leverage will reduce the weighted average cost of capital andsubsequently increase value to investors. Finally, the explanatory power of the moderated variablesare more than the ones not moderated.
本研究探讨了杠杆对尼日利亚油气上市公司会计信息价值相关性的调节作用。本研究采用相关研究设计,数据提取自已公布的企业年度财务报告作为自变量和调节因子。另一方面,因变量(股价)的数据是从尼日利亚证券交易所网站收集的。6家公司的样本量为8年(2011-2018)。数据采用多元回归分析。分析结果显示,每股收益与杠杆率具有价值相关性。此外,伴随着杠杆调节的每股账面价值与伴随着杠杆调节的每股收益也具有价值相关性。基于研究结果,该研究建议尼日利亚的上市石油和天然气公司应该制定策略来提高他们的收益,此外,他们还应该找到管理其账面价值的方法,因为任何不必要的投资都意味着对股价的负面影响。此外,上市石油和天然气公司应该保持适当的杠杆水平,这样低廉的杠杆成本将降低加权平均资本成本,从而增加投资者的价值。最后,被调节变量的解释力大于未被调节变量的解释力。
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引用次数: 0
AUDIT QUALITY, GOVERNANCE MECHANISMS AND EARNINGS MANAGEMENT OF QUOTED DEPOSIT MONEY BANKS IN NIGERIA 尼日利亚上市存款银行审计质量、治理机制与盈余管理
Pub Date : 2020-04-20 DOI: 10.57233/gujaf.v1i1.14
Adamu Magaji, Monday Samuel Okolo, L. Ibrahim
Corporate failures across the globe have become an issue of concern for stakeholders andregulators. Financial reporting scandals that occurred in oceanic bank, intercontinental bank andthe recent bank crises of Skye Bank in 2016 really motivated the need for this study. The studyexamines audit quality, governance mechanism and earnings management of listed deposit moneybanks in Nigeria for the period of eleven years from 2009-2019. The population of the study consistsof all the 14 listed deposit money banks in Nigeria as at 31st December, 2019. The study adoptedexpo-factor and correlation research designs, and multiple regression was employed as techniqueof data analysis. The findings of the study revealed that audit independence, managerial ownershipand board independent have significant negative impact on earnings management of quotedNigerian banks while auditor size and audit tenure have insignificant influence on earningsmanagement of listed deposit money banks in Nigeria. In line with the findings, the study thereforeconcluded that audit independence, managerial ownership and board independence havesignificant negative impact on earnings management of banks in Nigeria while audit firm size andaudit tenure have no significant impact on earnings management of listed deposit money banks inNigeria. It is therefore recommended that Nigeria listed deposit money banks should maintain theaudit fees they are paying to the audit firm or increase it as any attempt to reduce the audit fees canincrease earnings management. However managerial shareholding should be increase as it willreduce earnings management and also board independent directors on the board should beincreased from minimum of two as it will reduce earnings management of listed deposit moneybanks in Nigeria on the other hand there is no significant impact between audit firm tenure andaudit firm size on earnings management of listed deposit money banks in Nigeria. For audit firmsize the study recommended that local audit firms should be used instead of the Big 4 as the size have no effect on earnings management. Also the study recommended that for audit tenure the bankshould maintain its audit tenure as it does not have any influence on earnings management. 
全球范围内的企业倒闭已成为利益相关者和监管机构关注的一个问题。发生在海洋银行、洲际银行的财务报告丑闻以及2016年天空银行最近的银行危机确实激发了这项研究的必要性。本研究考察了2009-2019年11年间尼日利亚上市存款银行的审计质量、治理机制和盈余管理。该研究的对象包括截至2019年12月31日尼日利亚所有14家上市存款银行。本研究采用指数因子和相关研究设计,采用多元回归作为数据分析技术。研究发现,审计独立性、管理层所有权和董事会独立性对尼日利亚上市银行的盈余管理有显著的负向影响,而审计师规模和审计任期对尼日利亚上市存款银行的盈余管理影响不显著。根据研究结果,本研究得出审计独立性、管理层所有权和董事会独立性对尼日利亚银行盈余管理有显著的负面影响,而审计事务所规模和审计任期对尼日利亚上市存款货币银行的盈余管理没有显著影响的结论。因此,建议尼日利亚上市存款银行应保持向审计公司支付的审计费用,或增加审计费用,因为任何减少审计费用的尝试都会增加盈余管理。然而,管理层持股应该增加,因为这将减少盈余管理,董事会独立董事也应该从至少两名增加,因为这将减少尼日利亚上市存款银行的盈余管理,另一方面,审计公司任期和审计公司规模对尼日利亚上市存款银行的盈余管理没有显著影响。对于审计事务所的规模,研究建议使用本地审计事务所而不是四大,因为规模对盈余管理没有影响。该研究还建议,对于审计任期,银行应保持其审计任期,因为它对盈余管理没有任何影响。
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引用次数: 0
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Gusau Journal of Accounting and Finance
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