Pub Date : 2024-03-15DOI: 10.37745/ejaafr.2013/vol12n34052
Richard Eze Eze-Anya, I. Okwo, O. Inyiama
Performance of deposit money banks in Nigeria. The specific objective of the study was to critically appraise the relationship between size of board of directors, composition of board members, frequency of board meetings and return on assets of deposit money banks in Nigeria. The data were sourced through secondary sources from annual reports and accounts of sampled deposit money banks in Nigeria. The stated Null Hypotheses were tested through data analysis by using the correlation analysis as analytical tool. The research findings reveal that board size has a positive and strong relationship with return on assets while board composition has a positive but moderately strong association with return on assets. Furthermore, frequency of board meetings has a negative and very weak relationship with return on assets of deposit money banks in Nigeria. The implication of the findings is that increased board size could result in the improvement of financial performance of deposit money banks. The research found that such increase in number of members of the board will generate the desired outcome if it centers on independent nonexecutive directors with wealth of corporate governance experience, sound and profitable contacts, good and relevant education. The negative relationship with frequency of board meetings implies that banks should begin to trim down on number of board meetings as research has found that frequent meetings signal a crisis or distress situation with perceptions of going concern issues and bank failure. The study recommends that new independent non-executive professionals with critical governance and management attributes could be introduced into the board to improve the quality of decisions, earnings and general performance. Frequency of Board Meetings should be reduced to save cost and time while virtual meetings should be called more often than physical meetings as distance is no longer a barrier.
{"title":"Corporate Governance Practices and Performance of Deposit Money Banks in Nigeria","authors":"Richard Eze Eze-Anya, I. Okwo, O. Inyiama","doi":"10.37745/ejaafr.2013/vol12n34052","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol12n34052","url":null,"abstract":"Performance of deposit money banks in Nigeria. The specific objective of the study was to critically appraise the relationship between size of board of directors, composition of board members, frequency of board meetings and return on assets of deposit money banks in Nigeria. The data were sourced through secondary sources from annual reports and accounts of sampled deposit money banks in Nigeria. The stated Null Hypotheses were tested through data analysis by using the correlation analysis as analytical tool. The research findings reveal that board size has a positive and strong relationship with return on assets while board composition has a positive but moderately strong association with return on assets. Furthermore, frequency of board meetings has a negative and very weak relationship with return on assets of deposit money banks in Nigeria. The implication of the findings is that increased board size could result in the improvement of financial performance of deposit money banks. The research found that such increase in number of members of the board will generate the desired outcome if it centers on independent nonexecutive directors with wealth of corporate governance experience, sound and profitable contacts, good and relevant education. The negative relationship with frequency of board meetings implies that banks should begin to trim down on number of board meetings as research has found that frequent meetings signal a crisis or distress situation with perceptions of going concern issues and bank failure. The study recommends that new independent non-executive professionals with critical governance and management attributes could be introduced into the board to improve the quality of decisions, earnings and general performance. Frequency of Board Meetings should be reduced to save cost and time while virtual meetings should be called more often than physical meetings as distance is no longer a barrier.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"13 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140240140","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}
Pub Date : 2024-03-15DOI: 10.37745/ejaafr.2013/vol12n4115
The main motivation of this study stemmed from the dearth of empirical evidence of the effect of sustainability accounting disclosure on financial performance of Brewery firms in Nigeria and also to provide empirical proof on “governance disclosure” as one of the explanatory variables of sustainability accounting disclosure. Consequently, this study ascertained the effect of sustainability accounting disclosure on financial performance of Brewery firms in Nigeria. An ex–post facto research design approach was adopted for the study. The population of this study comprised five (5) Brewery firms quoted on the floor of the Nigeria exchange group (NGX), and Nigerian Breweries Plc was purposively used as the sample size of this study. Secondary data were carefully sourced from the financial statement/annual reports and sustainability reports from 2013 to 2022 of the Brewery firms quoted on the Nigeria exchange group (NGX). Least regression analysis by aid of E-views 10.0 software was used to test for statistical significance of the effect of sustainability accounting disclosure on financial performance of Brewery firms in Nigeria. The results showed that Economic Sustainability disclosure indexes do not significantly affect Net Profit Margin of Brewery firms in Nigeria. The findings further revealed that Environmental Sustainability disclosure indexes significantly affect Net Profit Margin of Brewery firms in Nigeria. More so, results showed that Social Sustainability disclosure indexes do not significantly affect Net Profit Margin of Brewery firms in Nigeria. Finally, the result established also that Governance Sustainability disclosure indexes do not significantly affect Net Profit Margin of Brewery firms in Nigeria, this study recommends among others; that managers of Brewers in Nigeria should improve and sustain full disclosure practices on economic, environmental, social and governance disclosures following the guidelines of the Global Reporting Index(GRI) as they are capable of exerting significant
{"title":"Foreign Exchange Rate Disruptions and Stock Market Performance of Selected Manufacturing Firms Quoted on the Nigerian Exchange Group","authors":"","doi":"10.37745/ejaafr.2013/vol12n4115","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol12n4115","url":null,"abstract":"The main motivation of this study stemmed from the dearth of empirical evidence of the effect of sustainability accounting disclosure on financial performance of Brewery firms in Nigeria and also to provide empirical proof on “governance disclosure” as one of the explanatory variables of sustainability accounting disclosure. Consequently, this study ascertained the effect of sustainability accounting disclosure on financial performance of Brewery firms in Nigeria. An ex–post facto research design approach was adopted for the study. The population of this study comprised five (5) Brewery firms quoted on the floor of the Nigeria exchange group (NGX), and Nigerian Breweries Plc was purposively used as the sample size of this study. Secondary data were carefully sourced from the financial statement/annual reports and sustainability reports from 2013 to 2022 of the Brewery firms quoted on the Nigeria exchange group (NGX). Least regression analysis by aid of E-views 10.0 software was used to test for statistical significance of the effect of sustainability accounting disclosure on financial performance of Brewery firms in Nigeria. The results showed that Economic Sustainability disclosure indexes do not significantly affect Net Profit Margin of Brewery firms in Nigeria. The findings further revealed that Environmental Sustainability disclosure indexes significantly affect Net Profit Margin of Brewery firms in Nigeria. More so, results showed that Social Sustainability disclosure indexes do not significantly affect Net Profit Margin of Brewery firms in Nigeria. Finally, the result established also that Governance Sustainability disclosure indexes do not significantly affect Net Profit Margin of Brewery firms in Nigeria, this study recommends among others; that managers of Brewers in Nigeria should improve and sustain full disclosure practices on economic, environmental, social and governance disclosures following the guidelines of the Global Reporting Index(GRI) as they are capable of exerting significant","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":" 69","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140391945","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}
Pub Date : 2024-03-15DOI: 10.37745/ejaafr.2013/vol12n3139
Sunday Zibaghafa, Gospel J. Chukwu
This study investigated public sector accounting standards adoption and quality of financial reporting in higher institutions in Rivers and Bayelsa States, Nigeria. The study adopted survey research design. The study population consisted of all public higher institutionsin both states and a sample size of three hundred and twenty (320) was utilized for the study. Primary and secondary sources of data were employed while univariate and multivariate analysis were used for data analysis. The multivariate analysis revealed that Pre – and Post- IPSAS adoption has no significant difference in the financial reporting of relevance while faithful representation, understandability, timeliness, verifiability and comparability has significant differences in the Pre- and Post-IPSAS adoption periods in the higher institutions in Rivers and Bayelsa State. The study concluded that Pre- and Post-IPSAS periods has no significant influence with relevance of higher institutions in Rivers and Bayelsa States;Both Pre- and Post-IPSAS adoption period has significant difference in influencing faith representation of higher institutions in Rivers and Bayelsa States;Both Pre- and Post-IPSAS adoption period has significant difference in influencing understandability of higher institutions in Rivers and Bayelsa States;Both Pre- and Post-IPSAS adoption period has significant difference in influencing timeliness of higher institutions in Rivers and Bayelsa States; and both Pre- and Post-IPSAS adoption period has significant difference in influencing verifiability of higher institutions in Rivers and Bayelsa State. Hence the study recommended amongst others that public sector entities should adopt both Pre-IPSAS and Post-IPSAS principles in preparing financial reporting quality in term of faithful representation because this study affirmed that both Pre and Post IPSA has significant difference in the financial reporting in term of faithful representation.
{"title":"Public Sector Accounting Standard Adoption and Quality of Financial Reporting in Higher Institutions in Rivers and Bayelsa States, Nigeria","authors":"Sunday Zibaghafa, Gospel J. Chukwu","doi":"10.37745/ejaafr.2013/vol12n3139","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol12n3139","url":null,"abstract":"This study investigated public sector accounting standards adoption and quality of financial reporting in higher institutions in Rivers and Bayelsa States, Nigeria. The study adopted survey research design. The study population consisted of all public higher institutionsin both states and a sample size of three hundred and twenty (320) was utilized for the study. Primary and secondary sources of data were employed while univariate and multivariate analysis were used for data analysis. The multivariate analysis revealed that Pre – and Post- IPSAS adoption has no significant difference in the financial reporting of relevance while faithful representation, understandability, timeliness, verifiability and comparability has significant differences in the Pre- and Post-IPSAS adoption periods in the higher institutions in Rivers and Bayelsa State. The study concluded that Pre- and Post-IPSAS periods has no significant influence with relevance of higher institutions in Rivers and Bayelsa States;Both Pre- and Post-IPSAS adoption period has significant difference in influencing faith representation of higher institutions in Rivers and Bayelsa States;Both Pre- and Post-IPSAS adoption period has significant difference in influencing understandability of higher institutions in Rivers and Bayelsa States;Both Pre- and Post-IPSAS adoption period has significant difference in influencing timeliness of higher institutions in Rivers and Bayelsa States; and both Pre- and Post-IPSAS adoption period has significant difference in influencing verifiability of higher institutions in Rivers and Bayelsa State. Hence the study recommended amongst others that public sector entities should adopt both Pre-IPSAS and Post-IPSAS principles in preparing financial reporting quality in term of faithful representation because this study affirmed that both Pre and Post IPSA has significant difference in the financial reporting in term of faithful representation.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"18 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140238781","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}
Pub Date : 2024-01-15DOI: 10.37745/ejaafr.2013/vol12n23450
Judethadeus Chukwuebuka Oshim, Obiageli N. Nze
The study examined the effect of foreign exchange income on financial performance of deposit money banks in Nigeria. The specific objectives of the study were to ascertain the effect of nominal exchange rate, real exchange rate, and exchange rate on return on asset of deposit money banks in Nigeria. nominal exchange rate, real exchange rate, and exchange rate were the independent variables, while return on asset was the dependent variable. The study adopted an ex-post-facto research design, covering the period between 2011 and 2020. Secondary data were extracted from the annual reports and accounts of sampled deposit money banks in Nigeria. Multiple regression techniques were used for test of hypotheses. From the data analysis, it was revealed that nominal exchange rate has a significant negative effect on return on asset of deposit money banks in Nigeria. real exchange rates have a significant positive effect on return on asset of deposit money banks in Nigeria. However, exchange rate has a nonsignificant negative effect on return on asset of deposit money banks in Nigeria. This implies that among the foreign exchange income variables, nominal exchange rate and real exchange rate can be used to predict return on asset of deposit money banks in Nigeria. The study, therefore, recommends that federal money the sources of deficit financing. They should reduce their public debt so as to allow foreigners invest in securities with naira denomination. They should reduce the extent the deplete our foreign exchange reserve because such moves increase the exchange rate, which affects banks performance negatively. The central bank of Nigeria and the ministry of finance should reduce the rate they give out dollars to politicians because it affects our exchange rate and banks’ performance negatively.
{"title":"Foreign Exchange Income and Financial Performance of Deposit Money Banks in Nigeria","authors":"Judethadeus Chukwuebuka Oshim, Obiageli N. Nze","doi":"10.37745/ejaafr.2013/vol12n23450","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol12n23450","url":null,"abstract":"The study examined the effect of foreign exchange income on financial performance of deposit money banks in Nigeria. The specific objectives of the study were to ascertain the effect of nominal exchange rate, real exchange rate, and exchange rate on return on asset of deposit money banks in Nigeria. nominal exchange rate, real exchange rate, and exchange rate were the independent variables, while return on asset was the dependent variable. The study adopted an ex-post-facto research design, covering the period between 2011 and 2020. Secondary data were extracted from the annual reports and accounts of sampled deposit money banks in Nigeria. Multiple regression techniques were used for test of hypotheses. From the data analysis, it was revealed that nominal exchange rate has a significant negative effect on return on asset of deposit money banks in Nigeria. real exchange rates have a significant positive effect on return on asset of deposit money banks in Nigeria. However, exchange rate has a nonsignificant negative effect on return on asset of deposit money banks in Nigeria. This implies that among the foreign exchange income variables, nominal exchange rate and real exchange rate can be used to predict return on asset of deposit money banks in Nigeria. The study, therefore, recommends that federal money the sources of deficit financing. They should reduce their public debt so as to allow foreigners invest in securities with naira denomination. They should reduce the extent the deplete our foreign exchange reserve because such moves increase the exchange rate, which affects banks performance negatively. The central bank of Nigeria and the ministry of finance should reduce the rate they give out dollars to politicians because it affects our exchange rate and banks’ performance negatively.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"27 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140507230","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}
Pub Date : 2024-01-15DOI: 10.37745/ejaafr.2013/vol12n21833
Patrick Chinonso Agu, Oliver Ikechukwu Inyiama, Cyril madubuko Ubesie
The study examined the effect of government expenditure on human capital index in Nigeria. Government expenditure on administration, economic services, and social community services were the independent variables of the study, while human capital index was the dependent variable. The specific objectives were structured as follows: To ascertain the effect of government expenditure on administration on human capital index in Nigeria; to examine the effect of government expenditure on economic services on human capital index in Nigeria; and to investigate the effect of government expenditure on social community services on human capital index in Nigeria. The study adopted an ex-post-facto research design, covering the period between 2001 and 2021. Multiple regression technique was used for the data analysis. In line with the specific objectives of the study, it was revealed that Government expenditure on administration has a significant negative effect on human development index in Nigeria with a p-value of 0.0444 and t-statistics of -2.194267; Government expenditure on economic services has a non-significant positive effect on human development index of Nigeria with p-value of 0.3785 and t-statistics of 0.907474 and Government expenditure on social community services has a significant positive effect on human development index of Nigeria with p-value of 0.0403 and t-statistics of 2.245271. This implies that among the explanatory variables x-rayed, Government expenditure on administration and social community services are the major determinants of human development index in Nigeria. The study recommended therefore that the government should strive to block all the financial loopholes available to corrupt public officers and also ensure that any official caught perpetuating corruption should be prosecuted by relevant agencies. The government should increase the budgetary allocations made for agriculture, construction, transportation, communication. These expenditures increase human development in Nigeria. The government should ensure they increase the funds allocated to education, health, electricity and other social and community services. Such expenditures have proven to affect human development positively and significantly.
{"title":"Effect of Government Expenditure on Human Capital Index in Nigeria","authors":"Patrick Chinonso Agu, Oliver Ikechukwu Inyiama, Cyril madubuko Ubesie","doi":"10.37745/ejaafr.2013/vol12n21833","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol12n21833","url":null,"abstract":"The study examined the effect of government expenditure on human capital index in Nigeria. Government expenditure on administration, economic services, and social community services were the independent variables of the study, while human capital index was the dependent variable. The specific objectives were structured as follows: To ascertain the effect of government expenditure on administration on human capital index in Nigeria; to examine the effect of government expenditure on economic services on human capital index in Nigeria; and to investigate the effect of government expenditure on social community services on human capital index in Nigeria. The study adopted an ex-post-facto research design, covering the period between 2001 and 2021. Multiple regression technique was used for the data analysis. In line with the specific objectives of the study, it was revealed that Government expenditure on administration has a significant negative effect on human development index in Nigeria with a p-value of 0.0444 and t-statistics of -2.194267; Government expenditure on economic services has a non-significant positive effect on human development index of Nigeria with p-value of 0.3785 and t-statistics of 0.907474 and Government expenditure on social community services has a significant positive effect on human development index of Nigeria with p-value of 0.0403 and t-statistics of 2.245271. This implies that among the explanatory variables x-rayed, Government expenditure on administration and social community services are the major determinants of human development index in Nigeria. The study recommended therefore that the government should strive to block all the financial loopholes available to corrupt public officers and also ensure that any official caught perpetuating corruption should be prosecuted by relevant agencies. The government should increase the budgetary allocations made for agriculture, construction, transportation, communication. These expenditures increase human development in Nigeria. The government should ensure they increase the funds allocated to education, health, electricity and other social and community services. Such expenditures have proven to affect human development positively and significantly.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"51 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140508100","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}
Nigeria's insurance industry, despite contributing less than 1% to Nigeria's GDP, is considered crucial to the economy as it controls large sums of money and protects businesses from diverse risks. However, concerned about business failures in the insurance industry, the National Insurance Commission in 2012, mandated the adoption of Enterprise Risk Management (ERM) by all insurance businesses in Nigeria to address this issue and to deter future business failures. This research work studied the effect of ERM on the profitability of Nigerian insurance businesses over a 10-year period, encompassing the two years prior to, and eight years following the introduction of ERM. ERM is studied from two perspectives: ERM adoption and ERM implementation. Profitability, the dependent variable was measured by Return on Assets while ERM adoption was measured using Chief Risk Officer (CRO) and Board Risk Committee Composition (BRCC. Enterprise Risk Management Index (ERMI) measured ERM implementation. Firm Size (F. SIZE) represented by Total Assets and Firm Age (F.AGE), represented by total years of operations, served as control variables. Using the expo-facto research design and the census sampling technique, relevant secondary data about all 37 insurance companies that were in operation during the study period (2010 – 2019) was collected from published financial statements and the regulator’s reports. The multiple regression analysis revealed that while CRO and BRCC contributed positively to ROA but not at a statistically significant level, ERMI had a negative effect on ROA. The research confirms that ERM adoption only is not sufficient to influence profitability. For better results from ERM, an industry-wide review of implementation practices by NAICOM is recommended.
{"title":"Effect of Enterprise Risk Management on the Profitability of Insurance Companies in Nigeria","authors":"Abidemi Soladoye, Ijeoma Olabisi Dominic, Nasamu Gambo, Hauwa Lamino Abubakar","doi":"10.37745/ejaafr.2013/vol12n25170","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol12n25170","url":null,"abstract":"Nigeria's insurance industry, despite contributing less than 1% to Nigeria's GDP, is considered crucial to the economy as it controls large sums of money and protects businesses from diverse risks. However, concerned about business failures in the insurance industry, the National Insurance Commission in 2012, mandated the adoption of Enterprise Risk Management (ERM) by all insurance businesses in Nigeria to address this issue and to deter future business failures. This research work studied the effect of ERM on the profitability of Nigerian insurance businesses over a 10-year period, encompassing the two years prior to, and eight years following the introduction of ERM. ERM is studied from two perspectives: ERM adoption and ERM implementation. Profitability, the dependent variable was measured by Return on Assets while ERM adoption was measured using Chief Risk Officer (CRO) and Board Risk Committee Composition (BRCC. Enterprise Risk Management Index (ERMI) measured ERM implementation. Firm Size (F. SIZE) represented by Total Assets and Firm Age (F.AGE), represented by total years of operations, served as control variables. Using the expo-facto research design and the census sampling technique, relevant secondary data about all 37 insurance companies that were in operation during the study period (2010 – 2019) was collected from published financial statements and the regulator’s reports. The multiple regression analysis revealed that while CRO and BRCC contributed positively to ROA but not at a statistically significant level, ERMI had a negative effect on ROA. The research confirms that ERM adoption only is not sufficient to influence profitability. For better results from ERM, an industry-wide review of implementation practices by NAICOM is recommended.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"98 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140507972","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}
Pub Date : 2024-01-15DOI: 10.37745/ejaafr.2013/vol12n2117
Moyotole Daniel Ezuem, Lilian Nkechi Ejeka
This study investigated the Petroleum Product Price adjustment and Nigeria's Economic Performance during the period 1984-2023. Employing secondary data and an Ex-post facto research design, the Auto-regressive Distributed Lag method for multiple regressions was utilized for analysis due to the stationarity characteristics of the variables. The petroleum products considered in this study were Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and Dual Purpose Kerosene (DPK), while economic performance was assessed through the Gross Domestic Product (GDP) in Nigeria. Through the application of both descriptive and inferential statistics on the generated data, the findings unveiled robust positive relationships between PMS and GDP, AGO and GDP, and a semi-strong positive relationship between DPK and GDP in Nigeria. The study suggested that variations in petroleum prices, especially PMS and AGO, could positively and significantly impact economic growth represented by GDP. However, variations in DPK prices may not have a similar positive and significant effect on economic growth represented by GDP. The study concluded that upward adjustments in petroleum product prices are crucial for favorable economic performance. Recommendations were made for the Nigerian government to explore alternative sources of public revenue, implement a progressive taxation system, adopt austerity budgets for prudent public expenditure, diversify economic sectors, and invest in sustainable industries and services. Additionally, citizens were encouraged to focus on hard work and embrace science as a source of wealth, emphasizing the need to move beyond dependence on depleted resources for revenue generation.
本研究调查了 1984-2023 年期间石油产品价格的调整和尼日利亚的经济表现。本研究采用了二手数据和事后研究设计，由于变量的静态特性，本研究使用了自回归分布滞后法进行多元回归分析。本研究中考虑的石油产品为高级机油 (PMS)、车用燃气油 (AGO) 和两用煤油 (DPK)，而经济表现则通过尼日利亚的国内生产总值 (GDP) 进行评估。通过对所生成的数据进行描述性和推论性统计，研究结果揭示了尼日利亚汽油（PMS）与国内生产总值（GDP）、天然气油（AGO）与国内生产总值（GDP）之间稳健的正相关关系，以及双用途煤油（DPK）与国内生产总值（GDP）之间半稳健的正相关关系。研究表明，石油价格的变化，尤其是 PMS 和 AGO 的变化，会对以 GDP 为代表的经济增长产生积极而显著的影响。然而，DPK 价格的变化可能不会对以 GDP 为代表的经济增长产生类似的积极和重大影响。研究得出结论，石油产品价格的上调对经济的良好表现至关重要。研究建议尼日利亚政府探索其他公共收入来源，实施累进税制，采用紧缩预算以谨慎公共支出，实现经济部门多样化，并投资于可持续发展的产业和服务。此外，还鼓励公民注重勤奋工作，将科学作为财富的来源，强调必须摆脱依赖枯竭资源创收的做法。
{"title":"Petroleum Product Price Adjustment and Nigeria’s Economic Performance (1984- 2023)","authors":"Moyotole Daniel Ezuem, Lilian Nkechi Ejeka","doi":"10.37745/ejaafr.2013/vol12n2117","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol12n2117","url":null,"abstract":"This study investigated the Petroleum Product Price adjustment and Nigeria's Economic Performance during the period 1984-2023. Employing secondary data and an Ex-post facto research design, the Auto-regressive Distributed Lag method for multiple regressions was utilized for analysis due to the stationarity characteristics of the variables. The petroleum products considered in this study were Premium Motor Spirit (PMS), Automotive Gas Oil (AGO), and Dual Purpose Kerosene (DPK), while economic performance was assessed through the Gross Domestic Product (GDP) in Nigeria. Through the application of both descriptive and inferential statistics on the generated data, the findings unveiled robust positive relationships between PMS and GDP, AGO and GDP, and a semi-strong positive relationship between DPK and GDP in Nigeria. The study suggested that variations in petroleum prices, especially PMS and AGO, could positively and significantly impact economic growth represented by GDP. However, variations in DPK prices may not have a similar positive and significant effect on economic growth represented by GDP. The study concluded that upward adjustments in petroleum product prices are crucial for favorable economic performance. Recommendations were made for the Nigerian government to explore alternative sources of public revenue, implement a progressive taxation system, adopt austerity budgets for prudent public expenditure, diversify economic sectors, and invest in sustainable industries and services. Additionally, citizens were encouraged to focus on hard work and embrace science as a source of wealth, emphasizing the need to move beyond dependence on depleted resources for revenue generation.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"32 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140507919","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}
Pub Date : 2024-01-15DOI: 10.37745/ejaafr.2013/vol12n27183
Mgbangun Samuel Tyoga, Ene Amanda Lawani, Nasamu Gambo, Umar Ibrahim Abbas
Foreign capital inflows, including foreign portfolio investments (FPI), significantly contribute to filling Nigeria's domestic saving gap and are important sources of capital formation, technological development, innovative capacity, skills building, and organizational improvements. However, exchange rate fluctuations have controversially impacted FPI flows. Some studies found exchange rate changes increased Nigerian FPI, while others determined a negative relationship. This study examined macroeconomic determinants of FPI in Nigeria from 2011-2022 using quarterly data. Applying OLS modeling after confirming variables were integrated at levels and first differences, results showed exchange rates, inflation, and GDP significantly influenced FPI flows. Specification tests validated model stability. Analysis revealed exchange rate fluctuations substantially drove capital inflow and divestment decisions. Suggesting exchange rate uncertainty discourages long-term FPI, findings imply the need for fiscal policies supporting security and business environment certainty to attract foreign investors. Additionally, raising benchmark interest rates above inflation could ensure positive real returns and promote investments. Overall, creating macroeconomic stability through coordinated fiscal, monetary, and exchange rate policies appears critical for Nigeria to reap the development benefits of sustained foreign portfolio inflows. It therefore, suggested that, Fiscal Authority should create an enabling environment, especially by providing adequate security in the country in order to attract and retain foreign investors in Nigeria. Also, the monetary authority should increase the interest rate (MPR) which is the anchor rate in order to have positive rate of return after considering the rate of inflation in the country. In conclusion, the study recommended for further study especially on foreign direct investment in Nigeria.
{"title":"Impact of Macroeconomic Determinants on Foreign Portfolio Investment in Nigeria","authors":"Mgbangun Samuel Tyoga, Ene Amanda Lawani, Nasamu Gambo, Umar Ibrahim Abbas","doi":"10.37745/ejaafr.2013/vol12n27183","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol12n27183","url":null,"abstract":"Foreign capital inflows, including foreign portfolio investments (FPI), significantly contribute to filling Nigeria's domestic saving gap and are important sources of capital formation, technological development, innovative capacity, skills building, and organizational improvements. However, exchange rate fluctuations have controversially impacted FPI flows. Some studies found exchange rate changes increased Nigerian FPI, while others determined a negative relationship. This study examined macroeconomic determinants of FPI in Nigeria from 2011-2022 using quarterly data. Applying OLS modeling after confirming variables were integrated at levels and first differences, results showed exchange rates, inflation, and GDP significantly influenced FPI flows. Specification tests validated model stability. Analysis revealed exchange rate fluctuations substantially drove capital inflow and divestment decisions. Suggesting exchange rate uncertainty discourages long-term FPI, findings imply the need for fiscal policies supporting security and business environment certainty to attract foreign investors. Additionally, raising benchmark interest rates above inflation could ensure positive real returns and promote investments. Overall, creating macroeconomic stability through coordinated fiscal, monetary, and exchange rate policies appears critical for Nigeria to reap the development benefits of sustained foreign portfolio inflows. It therefore, suggested that, Fiscal Authority should create an enabling environment, especially by providing adequate security in the country in order to attract and retain foreign investors in Nigeria. Also, the monetary authority should increase the interest rate (MPR) which is the anchor rate in order to have positive rate of return after considering the rate of inflation in the country. In conclusion, the study recommended for further study especially on foreign direct investment in Nigeria.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"43 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140507421","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}
Pub Date : 2024-01-15DOI: 10.37745/ejaafr.2013/vol12n284103
N. Awotomilusi, Oluwaseun Titi Adeosun
This study analysed the role of corporate governance on the quality of financial reporting practices of Multinational Enterprises (MNEs) in Nigeria. The study made use of managerial hegemony theory to establish a theoretical foundation in examining the effect of corporate governance mechanisms in the quality of the financial reporting practices of MNEs in Nigeria. Ex-post facto research design and panel regression were employed by the study. The study extracted data from the audited financial statement of 20 active MNEs in the consumer manufacturing sector listed on Nigeria Exchange Group (NGX). The population forms the sample size using census sampling. Findings revealed that the size of board, board independence, gender diversity and board shareholding did not significantly affect the quality of financial reporting practices of MNEs in Nigeria. Firm size and firm leverage significantly moderate the interaction between corporate governance and the quality of financial reporting practices of MNEs in Nigeria. The study concluded that this finding is a pointer to the fact that the quality of financial reporting of MNEs in Nigeria may be determined by factors other than corporate governance such as the adoption of International Financial Reporting Standard (IFRS), regulations, and Nigerian laws (CAMA 2020). Therefore, the study recommends that MNEs in the consumer sector in Nigeria should strengthen their corporate governance mechanism with the aim of improving the quality of financial reporting of their businesses in the short-run and the confidence of their customers and investors in the long-run.
{"title":"Analysis of The Role of Corporate Governance Mechanisms in Shaping the Financial Reporting Practices of MNEs in Nigeria","authors":"N. Awotomilusi, Oluwaseun Titi Adeosun","doi":"10.37745/ejaafr.2013/vol12n284103","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol12n284103","url":null,"abstract":"This study analysed the role of corporate governance on the quality of financial reporting practices of Multinational Enterprises (MNEs) in Nigeria. The study made use of managerial hegemony theory to establish a theoretical foundation in examining the effect of corporate governance mechanisms in the quality of the financial reporting practices of MNEs in Nigeria. Ex-post facto research design and panel regression were employed by the study. The study extracted data from the audited financial statement of 20 active MNEs in the consumer manufacturing sector listed on Nigeria Exchange Group (NGX). The population forms the sample size using census sampling. Findings revealed that the size of board, board independence, gender diversity and board shareholding did not significantly affect the quality of financial reporting practices of MNEs in Nigeria. Firm size and firm leverage significantly moderate the interaction between corporate governance and the quality of financial reporting practices of MNEs in Nigeria. The study concluded that this finding is a pointer to the fact that the quality of financial reporting of MNEs in Nigeria may be determined by factors other than corporate governance such as the adoption of International Financial Reporting Standard (IFRS), regulations, and Nigerian laws (CAMA 2020). Therefore, the study recommends that MNEs in the consumer sector in Nigeria should strengthen their corporate governance mechanism with the aim of improving the quality of financial reporting of their businesses in the short-run and the confidence of their customers and investors in the long-run.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"36 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-01-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140506775","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}
Pub Date : 2023-11-15DOI: 10.37745/ejaafr.2013/vol11n115973
Sylvia Sewuese Ibiamke, Suleiman Tauhid, J. Okpanachi
This study explores the effect of risk management committee gender diversity on the likelihood of financial distress among listed deposit money banks in Nigeria. The study utilizes the Nigerian Code of Corporate Governance 2018 as an instrumental variable to address endogeneity concerns related to the self-selection of gender diversity on the risk management committee. The dependent variable is the likelihood of financial distress, while the independent variable is the gender composition of the risk management committee. The sample size consists of 12 listed deposit money banks, and the data covers the period from 2017 to 2021. The analysis employs a two-stage regression analysis technique. The findings of this study reveal a significant positive effect of risk management committee gender on the likelihood of financial distress among listed deposit money banks in Nigeria. This suggests that a higher representation of a particular gender in the risk management committee is associated with an increased likelihood of financial distress. The results have important implications for policymakers, regulators, and banking institutions in Nigeria. The study highlights the need to consider gender diversity in risk management committees as a potential driver of financial distress. The findings call for proactive measures to promote a more balanced gender representation and inclusion in corporate decision-making processes within the banking sector. The findings emphasize the significance of gender diversity in risk management practices and provide valuable insights for stakeholders seeking to enhance risk assessment and mitigate the occurrence of financial distress in the banking sector.
{"title":"Risk Management Committee Gender and Likelihood of Financial Distress of Listed Deposit Money Banks in Nigeria","authors":"Sylvia Sewuese Ibiamke, Suleiman Tauhid, J. Okpanachi","doi":"10.37745/ejaafr.2013/vol11n115973","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n115973","url":null,"abstract":"This study explores the effect of risk management committee gender diversity on the likelihood of financial distress among listed deposit money banks in Nigeria. The study utilizes the Nigerian Code of Corporate Governance 2018 as an instrumental variable to address endogeneity concerns related to the self-selection of gender diversity on the risk management committee. The dependent variable is the likelihood of financial distress, while the independent variable is the gender composition of the risk management committee. The sample size consists of 12 listed deposit money banks, and the data covers the period from 2017 to 2021. The analysis employs a two-stage regression analysis technique. The findings of this study reveal a significant positive effect of risk management committee gender on the likelihood of financial distress among listed deposit money banks in Nigeria. This suggests that a higher representation of a particular gender in the risk management committee is associated with an increased likelihood of financial distress. The results have important implications for policymakers, regulators, and banking institutions in Nigeria. The study highlights the need to consider gender diversity in risk management committees as a potential driver of financial distress. The findings call for proactive measures to promote a more balanced gender representation and inclusion in corporate decision-making processes within the banking sector. The findings emphasize the significance of gender diversity in risk management practices and provide valuable insights for stakeholders seeking to enhance risk assessment and mitigate the occurrence of financial distress in the banking sector.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"AES-12 5","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139271684","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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