Pub Date : 2023-07-15DOI: 10.37745/ejaafr.2013/vol11n8114
Lyndon M. Etale, Seimiegha P. Levi-Owonaro
A nation's economic growth and development depend critically on the pharmaceutical business because of its inextricable link to people's health and, by extension, their ability to put in productive hours at work. This study analyzed the effect of environmental financial reporting on the profitability of publicly listed pharmaceutical companies in Nigeria. The study relied on the ex post facto research design and made use of historical financial data on the adopted study variables. At the 0.05 threshold of significance as decision criteria, the study tested two hypotheses. The research used secondary data, and the businesses studied were a representative sample of the pharmaceutical companies listed on the Nigerian Exchange Group. Ordinary least square regression was used in conjunction with E-views version 9 to analyze the collected data. Earnings per share of listed pharmaceutical businesses in Nigeria were shown to be favorably connected with environmental financial reporting proxy by employee's welfare policy and community development cost. Management was urged to invest more in their workers' well-being to boost morale and productivity in the pharmaceutical industry.
一个国家的经济增长和发展在很大程度上取决于制药业，因为它与人民的健康，进而与人民投入生产时间的能力有着不可分割的联系。本研究分析了环境财务报告对尼日利亚上市制药公司盈利能力的影响。本研究采用事后研究设计，采用历史财务数据作为研究变量。在0.05显著性阈值作为决策标准时，研究检验了两个假设。该研究使用了二手数据，研究的企业是尼日利亚交易所集团上市的制药公司的代表性样本。使用普通最小二乘回归结合E-views version 9对收集的数据进行分析。通过员工福利政策和社区发展成本，尼日利亚上市制药企业的每股收益与环境财务报告表现出良好的联系。管理层被敦促加大对员工福利的投资，以提高制药业的士气和生产力。
{"title":"Environmental Financial Reporting and Corporate Performance of Listed Pharmaceutical Companies in Nigeria","authors":"Lyndon M. Etale, Seimiegha P. Levi-Owonaro","doi":"10.37745/ejaafr.2013/vol11n8114","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n8114","url":null,"abstract":"A nation's economic growth and development depend critically on the pharmaceutical business because of its inextricable link to people's health and, by extension, their ability to put in productive hours at work. This study analyzed the effect of environmental financial reporting on the profitability of publicly listed pharmaceutical companies in Nigeria. The study relied on the ex post facto research design and made use of historical financial data on the adopted study variables. At the 0.05 threshold of significance as decision criteria, the study tested two hypotheses. The research used secondary data, and the businesses studied were a representative sample of the pharmaceutical companies listed on the Nigerian Exchange Group. Ordinary least square regression was used in conjunction with E-views version 9 to analyze the collected data. Earnings per share of listed pharmaceutical businesses in Nigeria were shown to be favorably connected with environmental financial reporting proxy by employee's welfare policy and community development cost. Management was urged to invest more in their workers' well-being to boost morale and productivity in the pharmaceutical industry.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"372 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132475656","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 : 2023-07-15DOI: 10.37745/ejaafr.2013/vol11n86176
Abraham Irekponor, Jones Ebieri
The study examines effect of tax on economic growth of developing countries categorized into three regions namely; Africa, Asia and South America for the period 1990 to 2019 with specific objective to determine effect of tax revenue on gross domestic product of the regions collectively and provided comparative analysis of the three regions. Ex post facto research design was used and data were extracted from the World Bank and Organization of Economic Community and Development (2020) while the variables were analyzed using panel regression analytical technique. The study established clear evidence that each of the regions and collective tax revenue have positive significant effect on their gross domestic product. It further found that the positive effect of tax revenue on gross domestic product of the Asian region is more significant than the African and South American countries while that of the African countries is more than that of the South American countries sampled. The study therefore concludes that tax revenue has significant effect on economic growth of developing countries and recommends that governments of developing countries should intensify efforts to sustain their gross domestic product by reinvigorating their tax system, fiscal institutional structures, and framework to generate more tax revenue and invest in critical infrastructure; ensure more efficient means of tax collection so as to reduce the cost of collection and enhance the total revenue from taxes and seek for international collaboration on taxes to enhance growth.
{"title":"Comparative Analysis on Effect of Tax Revenue on Economic Growth of Developing Countries","authors":"Abraham Irekponor, Jones Ebieri","doi":"10.37745/ejaafr.2013/vol11n86176","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n86176","url":null,"abstract":"The study examines effect of tax on economic growth of developing countries categorized into three regions namely; Africa, Asia and South America for the period 1990 to 2019 with specific objective to determine effect of tax revenue on gross domestic product of the regions collectively and provided comparative analysis of the three regions. Ex post facto research design was used and data were extracted from the World Bank and Organization of Economic Community and Development (2020) while the variables were analyzed using panel regression analytical technique. The study established clear evidence that each of the regions and collective tax revenue have positive significant effect on their gross domestic product. It further found that the positive effect of tax revenue on gross domestic product of the Asian region is more significant than the African and South American countries while that of the African countries is more than that of the South American countries sampled. The study therefore concludes that tax revenue has significant effect on economic growth of developing countries and recommends that governments of developing countries should intensify efforts to sustain their gross domestic product by reinvigorating their tax system, fiscal institutional structures, and framework to generate more tax revenue and invest in critical infrastructure; ensure more efficient means of tax collection so as to reduce the cost of collection and enhance the total revenue from taxes and seek for international collaboration on taxes to enhance growth.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131275825","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 : 2023-06-15DOI: 10.37745/ejaafr.2013/vol11n7115
J. Apochi, Ahmed Nma Mohammed, J. Okpanachi, Samuel Eniola Agbi
Investors exhibit irrational behavior when making an investment decision. The decision-making process itself is considered to be a cognitive process, as the investors have to make a decision based on various alternatives available to them. Prior studies had shown that the investors’ decision-making was adversely affected by the various behavioral factors. This study was carried forward to identify the moderating role of financial literacy (FL) on the effect of prospect factor (PF) and herding effect (HE) on investment performance. The population of study was 3,706 and the sample size was the active investors resident in Kaduna metropolitan within the first quarter of 2023. Thus, 460 structured questionnaires were administered and 349 were returned valid. A convenient sampling technique was adopted in this study, and a primary data was collected from the respondents using both the online Google form and self-administered questionnaire with the help of research assistants. A 7-point Likert-type scale ranging from ‘1’ “Extremely Agree” to ‘7’ “Extremely Disagree” was employed. Smart-PLS 4 and SPSS 20 version was used to analyses the data and explained the demographic characteristics of the individual respectively. Findings from this study revealed that prospect factor and financial literacy have positive and significant influence on individual investment performance, while the herding effect is found to have a negative and insignificant influence on individual investment performance. Furthermore, the moderating role of financial literacy revealed that prospect factor and herding effect have an insignificant negative effect on individual investment performance. The study recommends that individual investors should have high levels of financial literacy. It has been empirically proven that FL help investors make better investment decision, in addition to satisfaction in their investment performance. Also, the investors should maintain the use of prospect behavioral biases when making investment decision as it has improved investment performance.
{"title":"Effect of Prospect Factor and Herding Effect on Individual Investment Performance in Nigeria: Moderating Role of Financial Literacy","authors":"J. Apochi, Ahmed Nma Mohammed, J. Okpanachi, Samuel Eniola Agbi","doi":"10.37745/ejaafr.2013/vol11n7115","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n7115","url":null,"abstract":"Investors exhibit irrational behavior when making an investment decision. The decision-making process itself is considered to be a cognitive process, as the investors have to make a decision based on various alternatives available to them. Prior studies had shown that the investors’ decision-making was adversely affected by the various behavioral factors. This study was carried forward to identify the moderating role of financial literacy (FL) on the effect of prospect factor (PF) and herding effect (HE) on investment performance. The population of study was 3,706 and the sample size was the active investors resident in Kaduna metropolitan within the first quarter of 2023. Thus, 460 structured questionnaires were administered and 349 were returned valid. A convenient sampling technique was adopted in this study, and a primary data was collected from the respondents using both the online Google form and self-administered questionnaire with the help of research assistants. A 7-point Likert-type scale ranging from ‘1’ “Extremely Agree” to ‘7’ “Extremely Disagree” was employed. Smart-PLS 4 and SPSS 20 version was used to analyses the data and explained the demographic characteristics of the individual respectively. Findings from this study revealed that prospect factor and financial literacy have positive and significant influence on individual investment performance, while the herding effect is found to have a negative and insignificant influence on individual investment performance. Furthermore, the moderating role of financial literacy revealed that prospect factor and herding effect have an insignificant negative effect on individual investment performance. The study recommends that individual investors should have high levels of financial literacy. It has been empirically proven that FL help investors make better investment decision, in addition to satisfaction in their investment performance. Also, the investors should maintain the use of prospect behavioral biases when making investment decision as it has improved investment performance.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130915226","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 : 2023-06-15DOI: 10.37745/ejaafr.2013/vol11n73046
Sunday Otuya, Godspower Akpoyibo, Sunday Edike
The role of intangible assets such as intellectual capital promoting corporate competitiveness and further shareholders’ value has attracted attention in the finance literature. This study investigated intellectual capital efficiency as a source of creating shareholders’ wealth in Nigeria. To achieve the study's aim, correlational research design was adopted. The study’s data were collected from content analysis of financial statements of listed service companies in Nigeria. The sample used in this study includes 17 service firms listed on the Nigeria Exchange Group from 2011 to 2022. The VAIC model was utilized to estimate intellectual capital. Descriptive statistics were conducted while some diagnostic tests were piloted before the regression analysis. The random effect regression model was used to verify whether the studied variables impact shareholders’ wealth of listed service companies in Nigeria. Findings indicated that value added intellectual coefficient as a measure of intellectual capital has a significant positive association with shareholders’ wealth. Results further revealed that human capital efficiency, relational capital efficiency and capital employed efficiency (as components of intellectual capital) are significantly and positively associated with shareholders’ wealth while structural capital efficiency has a positive but not significant relationship with shareholders’ wealth creation. The study concludes that efficient management of intellectual capital can enhance shareholders’ wealth in listed service companies in Nigeria and recommends amongst others that firms should make strategic plans regarding intellectual capital and intangible assets as it can increase corporate competitive advantage.
{"title":"Intellectual Capital and Shareholders’ Wealth. The Economic Value Added Approach","authors":"Sunday Otuya, Godspower Akpoyibo, Sunday Edike","doi":"10.37745/ejaafr.2013/vol11n73046","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n73046","url":null,"abstract":"The role of intangible assets such as intellectual capital promoting corporate competitiveness and further shareholders’ value has attracted attention in the finance literature. This study investigated intellectual capital efficiency as a source of creating shareholders’ wealth in Nigeria. To achieve the study's aim, correlational research design was adopted. The study’s data were collected from content analysis of financial statements of listed service companies in Nigeria. The sample used in this study includes 17 service firms listed on the Nigeria Exchange Group from 2011 to 2022. The VAIC model was utilized to estimate intellectual capital. Descriptive statistics were conducted while some diagnostic tests were piloted before the regression analysis. The random effect regression model was used to verify whether the studied variables impact shareholders’ wealth of listed service companies in Nigeria. Findings indicated that value added intellectual coefficient as a measure of intellectual capital has a significant positive association with shareholders’ wealth. Results further revealed that human capital efficiency, relational capital efficiency and capital employed efficiency (as components of intellectual capital) are significantly and positively associated with shareholders’ wealth while structural capital efficiency has a positive but not significant relationship with shareholders’ wealth creation. The study concludes that efficient management of intellectual capital can enhance shareholders’ wealth in listed service companies in Nigeria and recommends amongst others that firms should make strategic plans regarding intellectual capital and intangible assets as it can increase corporate competitive advantage.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"214 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126035985","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 : 2023-06-15DOI: 10.37745/ejaafr.2013/vol11n777100
Yakubu Ishaka, Nma Ahmed Mohammed, O. A. Yahaya, Samuel Eniola Agbi
This study examines the moderating role of ownership concentration on the effect of audit characteristics on audit report lag of listed consumer goods firms in Nigeria. The ex-post facto research design was adopted, secondary data was extracted from annual reports and accounts of listed consumer goods firms in Nigeria. The population of the study is twenty-one (21) and the sample size consist of fifteen (15) for ten years (2012-2021). Six (6) companies were flitter out from the study due the technical suspension by NXG during the period of study. Census sample techniques were adopted. PCSEs regression model was employed as technique of data analysis. The findings of the study revealed that the Audit Committee Size (ACS) and Audit Committee Meeting have a positive and significant effect on Audit Report Lag (ARL). Also, the Audit Committee Financial Expertise (ACFE) revealed a positive and insignificant effect on Audit Report Lag (ARL), while the Audit Committee Independence is established to have a negative and insignificant effect on Audit Report Lag (ARL). However, with consideration of moderating role ownership concentration, the Audit Committee Size (ACS) and Audit Committee Meeting (ACM) is found to have significant negative effect on Audit Report Lag (ARL), while the Audit Committee Financial Expertise and Audit Committee Independence are found to have a positive and insignificant effect on Audit Report Lag (ARL). The study concludes that ownership concentration moderates the effect of audit committee on Audit Report Lag. The study recommended that the management of the study firms should continue to sustain the frequency of meetings and size or numbers of the committee in their respective audit committee since the two committee have been empirically proven to have significantly reduced the timeframe of reporting their financial reports.
{"title":"Audit Committee and Audit Report Lag: Moderating Role of Ownership Concentration of Listed Consumer Goods Firms in Nigeria","authors":"Yakubu Ishaka, Nma Ahmed Mohammed, O. A. Yahaya, Samuel Eniola Agbi","doi":"10.37745/ejaafr.2013/vol11n777100","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n777100","url":null,"abstract":"This study examines the moderating role of ownership concentration on the effect of audit characteristics on audit report lag of listed consumer goods firms in Nigeria. The ex-post facto research design was adopted, secondary data was extracted from annual reports and accounts of listed consumer goods firms in Nigeria. The population of the study is twenty-one (21) and the sample size consist of fifteen (15) for ten years (2012-2021). Six (6) companies were flitter out from the study due the technical suspension by NXG during the period of study. Census sample techniques were adopted. PCSEs regression model was employed as technique of data analysis. The findings of the study revealed that the Audit Committee Size (ACS) and Audit Committee Meeting have a positive and significant effect on Audit Report Lag (ARL). Also, the Audit Committee Financial Expertise (ACFE) revealed a positive and insignificant effect on Audit Report Lag (ARL), while the Audit Committee Independence is established to have a negative and insignificant effect on Audit Report Lag (ARL). However, with consideration of moderating role ownership concentration, the Audit Committee Size (ACS) and Audit Committee Meeting (ACM) is found to have significant negative effect on Audit Report Lag (ARL), while the Audit Committee Financial Expertise and Audit Committee Independence are found to have a positive and insignificant effect on Audit Report Lag (ARL). The study concludes that ownership concentration moderates the effect of audit committee on Audit Report Lag. The study recommended that the management of the study firms should continue to sustain the frequency of meetings and size or numbers of the committee in their respective audit committee since the two committee have been empirically proven to have significantly reduced the timeframe of reporting their financial reports.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"95 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126149866","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 : 2023-06-15DOI: 10.37745/ejaafr.2013/vol11n71629
Bralayefa Tantua, Ebimotimi G. Agbalaiko, Lyndon M. Etale
The study was carried out to examine the relationship between green accounting practices and corporate viability of selected oil industry firms in Nigeria. Components of green accounting practices used include restoration cost, redemption cost and compensation cost, while return on investment was used to represent corporate viability. The study adopted the ex-post facto research design using secondary data collected from published annual reports of sampled firms (Oando, Shell, Agip, Conoil, and Alcon Oil) from 2010 to 2022. Data gathered was analyzed using the Ordinary Least Square (OLS) methods with the aid of E-views version 9 computer software. The results of the empirical analysis showed that restoration cost, redemption cost and compensation cost all had positive but not statistically significant association with return on investment (the measure of corporate viability) of selected oil industry firms in Nigeria. The study concluded that green accounting has positive influence on corporate viability of the selected oil industry firms in Nigeria. It was recommended that publicly quoted firms should adopt uniform green accounting reporting and disclosure standards for the purpose of control and measurement of viability.
本研究旨在检验尼日利亚选定的石油工业公司的绿色会计实践与公司生存能力之间的关系。绿色会计实践的组成部分包括恢复成本、赎回成本和补偿成本，而投资回报率被用来代表公司的生存能力。该研究采用了事后研究设计，使用了从抽样公司(Oando, Shell, Agip, Conoil和Alcon Oil) 2010年至2022年发布的年度报告中收集的二手数据。利用E-views version 9计算机软件，采用普通最小二乘法(OLS)对收集的数据进行分析。实证分析结果表明，尼日利亚石油工业企业的恢复成本、赎回成本和补偿成本与投资回报率(企业生存能力的衡量指标)均呈正相关，但不具有统计学意义。研究得出结论，绿色会计对尼日利亚选定的石油工业公司的企业生存能力有积极影响。建议上市公司应采用统一的绿色会计报告和披露标准，以便控制和衡量可行性。
{"title":"Green Accounting and Corporate Viability of Selected Oil Industry Firms in Nigeria","authors":"Bralayefa Tantua, Ebimotimi G. Agbalaiko, Lyndon M. Etale","doi":"10.37745/ejaafr.2013/vol11n71629","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n71629","url":null,"abstract":"The study was carried out to examine the relationship between green accounting practices and corporate viability of selected oil industry firms in Nigeria. Components of green accounting practices used include restoration cost, redemption cost and compensation cost, while return on investment was used to represent corporate viability. The study adopted the ex-post facto research design using secondary data collected from published annual reports of sampled firms (Oando, Shell, Agip, Conoil, and Alcon Oil) from 2010 to 2022. Data gathered was analyzed using the Ordinary Least Square (OLS) methods with the aid of E-views version 9 computer software. The results of the empirical analysis showed that restoration cost, redemption cost and compensation cost all had positive but not statistically significant association with return on investment (the measure of corporate viability) of selected oil industry firms in Nigeria. The study concluded that green accounting has positive influence on corporate viability of the selected oil industry firms in Nigeria. It was recommended that publicly quoted firms should adopt uniform green accounting reporting and disclosure standards for the purpose of control and measurement of viability.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"132029444","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 : 2023-06-15DOI: 10.37745/ejaafr.2013/vol11n7101116
Asma’u Mahmood Baffa, I. Lasisi, Tolulope Comfort Ojo
The paper assesses the value relevance of the tenure of auditors and size of audit firm by using empirical data from actively traded firms on the floor of Nigerian Exchange Group. Data for the study were obtained from the published annual reports and accounts of 124 quoted companies in Nigeria between 2012 to 2021. The average -monthly share price of the fourth month after accounting year end of all sampled firms was utilized as the dependent variable of the study in order to establish the value relevance of accounting information in the financial statements, Incorporating the explanatory variables of the study (auditor tenure and control variables) into The Ohlson’s 1995 price model quantitative approaches such as descriptive statistics, correlation, and panel corrected standard errors regression analysis were used in analyzing the data for the study. Findings of the study indicate that auditor tenure and audit firm size led to significant positive influence on market reaction in the first month after the release of annual reports and accounts of sampled firms. This means that, auditor tenure and audit firm size were found to be value relevant to users of accounting information in Nigeria. The study recommends that investors should consider the audit tenure and auditors size when making investment decisions and prioritize firms that have been audited by big auditors and by integrating small audit firms, as well as firms whose audit tenure is on average of five to six years in line with International best practices, rather than ten years as stipulated by the Code of Corporate Governance and CBN.
{"title":"Auditor Tenure, Audit Firm Size and Value Relevance of Accounting Information of Quoted Companies in Nigeria","authors":"Asma’u Mahmood Baffa, I. Lasisi, Tolulope Comfort Ojo","doi":"10.37745/ejaafr.2013/vol11n7101116","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n7101116","url":null,"abstract":"The paper assesses the value relevance of the tenure of auditors and size of audit firm by using empirical data from actively traded firms on the floor of Nigerian Exchange Group. Data for the study were obtained from the published annual reports and accounts of 124 quoted companies in Nigeria between 2012 to 2021. The average -monthly share price of the fourth month after accounting year end of all sampled firms was utilized as the dependent variable of the study in order to establish the value relevance of accounting information in the financial statements, Incorporating the explanatory variables of the study (auditor tenure and control variables) into The Ohlson’s 1995 price model quantitative approaches such as descriptive statistics, correlation, and panel corrected standard errors regression analysis were used in analyzing the data for the study. Findings of the study indicate that auditor tenure and audit firm size led to significant positive influence on market reaction in the first month after the release of annual reports and accounts of sampled firms. This means that, auditor tenure and audit firm size were found to be value relevant to users of accounting information in Nigeria. The study recommends that investors should consider the audit tenure and auditors size when making investment decisions and prioritize firms that have been audited by big auditors and by integrating small audit firms, as well as firms whose audit tenure is on average of five to six years in line with International best practices, rather than ten years as stipulated by the Code of Corporate Governance and CBN.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"29 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133635147","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 : 2023-06-15DOI: 10.37745/ejaafr.2013/vol11n74776
E. Udoh, Iniabasi Job Ikpe, Emmanuel O. Emenyi
This study examined the relationship between board committees’ independence and financial performance of listed non-finance firms in Nigeria. The specific objectives were to determine the relationship between audit committee’s independence and financial performance of listed non-finance firms in Nigeria; evaluate the relationship between risk management committee’s independence and financial performance of listed non-finance firms in Nigeria; ascertain the relationship between remuneration committee’s independence and financial performance of listed non-finance firms in Nigeria. Ex-post facto research design was adopted and the population of the study consists of all the listed non-finance firms. As of December, 2021, we had 108 non-finance firms listed on the floor of the Nigerian Exchange Group. The final sample size consists of 10 non-finance firms that were arrived at based on the availability of data for ten years for all the research variables. Findings revealed that audit committee independence significantly influence the performance of non-finance companies in Nigeria; Risk committee independence significantly influence the performance of non-finance companies in Nigeria and remuneration committee independence negatively influence the performance of non-finance companies in Nigeria. Specifically, the study concluded that only the variable of remuneration committee independence has negative but insignificant effect on firm financial performance. Furthermore, the study concluded that and increase in audit committee independence and risk management committee independence significantly increase the financial performance of listed non-finance firms in Nigeria. Based on the findings of this study, the researcher recommended that corporate boards of non-finance firms should maintain a sizeable audit committee that are dominated by non-executive directors and shareholders so as to maintain their independence as this significantly influence the firm financial performance.
{"title":"Board Committees’ Independence and Financial Performance of Listed Non-Finance Firms in Nigeria","authors":"E. Udoh, Iniabasi Job Ikpe, Emmanuel O. Emenyi","doi":"10.37745/ejaafr.2013/vol11n74776","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n74776","url":null,"abstract":"This study examined the relationship between board committees’ independence and financial performance of listed non-finance firms in Nigeria. The specific objectives were to determine the relationship between audit committee’s independence and financial performance of listed non-finance firms in Nigeria; evaluate the relationship between risk management committee’s independence and financial performance of listed non-finance firms in Nigeria; ascertain the relationship between remuneration committee’s independence and financial performance of listed non-finance firms in Nigeria. Ex-post facto research design was adopted and the population of the study consists of all the listed non-finance firms. As of December, 2021, we had 108 non-finance firms listed on the floor of the Nigerian Exchange Group. The final sample size consists of 10 non-finance firms that were arrived at based on the availability of data for ten years for all the research variables. Findings revealed that audit committee independence significantly influence the performance of non-finance companies in Nigeria; Risk committee independence significantly influence the performance of non-finance companies in Nigeria and remuneration committee independence negatively influence the performance of non-finance companies in Nigeria. Specifically, the study concluded that only the variable of remuneration committee independence has negative but insignificant effect on firm financial performance. Furthermore, the study concluded that and increase in audit committee independence and risk management committee independence significantly increase the financial performance of listed non-finance firms in Nigeria. Based on the findings of this study, the researcher recommended that corporate boards of non-finance firms should maintain a sizeable audit committee that are dominated by non-executive directors and shareholders so as to maintain their independence as this significantly influence the firm financial performance.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124081306","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 : 2023-05-15DOI: 10.37745/ejaafr.2013/vol11n64169
E. G. Ukpong
The study investigated the effect of digital technologies adoption in the accounting profession. It surveyed the perspectives of experts on the impacts of digital technologies on the accounting profession. The impacts on skills, tasks and work environment as well as the challenges of adoption of digital technologies by accountants in Nigeria were studied. The descriptive survey was used for the study. 127 certified accounting experts in Akwa Ibom State were sampled for the survey. The researcher developed instrument titled “Digital technologies and Accounting Professionals Questionnaire” was used for data collection. The study made use of primary data. Accounting experts were interviewed and questionnaire administered to ascertain their opinion on the penetration, impacts and potential effects of digital technologies on the accounting profession. The instrument was validated by three experts in the Department of accounting, Akwa Ibom State University. Thereafter, the instrument was trial tested for reliability using the test retest method on 20 respondents. The data collated was tested through Pearson product moment correlation, which gave a value of .88. this was deemed good enough and the instrument was then deemed fit for the study. Frequencies and descriptive statistics were used for answering the research questions while simple linear regression was used to test the hypothesis at a 0.05 level of significance. Findings of the study showed that the digital technologies impacting the accounting professions are artificial intelligence, enterprise resource planning, internet of things (IoT), blockchain technology, cloud accounting technology and big data analysis. It was also established that digital technology adoption has a significant positive effect on the changes in the accountancy profession in Nigeria. Also, emerging digital technologies adoption will significantly predict the nature of skills in the accountancy profession in Nigeria. it was recommended that in order to keep adding value for the company, accountants need to developed new skills and acquire new knowledge regarding the use of artificial intelligence and other digital solutions in modern business environment. There is highlighted the need of all employees (including accountants) for development of critical thinking and problem solving, high level of adaptability, flexibility and interpersonal interaction; it is required to learn continuously.
{"title":"Scholastic Analysis of the Impact of Digital Technologies on the Accountancy Profession in Nigeria","authors":"E. G. Ukpong","doi":"10.37745/ejaafr.2013/vol11n64169","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n64169","url":null,"abstract":"The study investigated the effect of digital technologies adoption in the accounting profession. It surveyed the perspectives of experts on the impacts of digital technologies on the accounting profession. The impacts on skills, tasks and work environment as well as the challenges of adoption of digital technologies by accountants in Nigeria were studied. The descriptive survey was used for the study. 127 certified accounting experts in Akwa Ibom State were sampled for the survey. The researcher developed instrument titled “Digital technologies and Accounting Professionals Questionnaire” was used for data collection. The study made use of primary data. Accounting experts were interviewed and questionnaire administered to ascertain their opinion on the penetration, impacts and potential effects of digital technologies on the accounting profession. The instrument was validated by three experts in the Department of accounting, Akwa Ibom State University. Thereafter, the instrument was trial tested for reliability using the test retest method on 20 respondents. The data collated was tested through Pearson product moment correlation, which gave a value of .88. this was deemed good enough and the instrument was then deemed fit for the study. Frequencies and descriptive statistics were used for answering the research questions while simple linear regression was used to test the hypothesis at a 0.05 level of significance. Findings of the study showed that the digital technologies impacting the accounting professions are artificial intelligence, enterprise resource planning, internet of things (IoT), blockchain technology, cloud accounting technology and big data analysis. It was also established that digital technology adoption has a significant positive effect on the changes in the accountancy profession in Nigeria. Also, emerging digital technologies adoption will significantly predict the nature of skills in the accountancy profession in Nigeria. it was recommended that in order to keep adding value for the company, accountants need to developed new skills and acquire new knowledge regarding the use of artificial intelligence and other digital solutions in modern business environment. There is highlighted the need of all employees (including accountants) for development of critical thinking and problem solving, high level of adaptability, flexibility and interpersonal interaction; it is required to learn continuously.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"61 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128620830","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 : 2023-05-15DOI: 10.37745/ejaafr.2013/vol11n5113
Esosa Kenny Orumwense, Efosa Osa-Izeko
This study examines the influence of board diversity on environmental sustainability disclosure in oil and gas companies in Nigeria. Communities that produce oil in the Niger Delta region of Nigeria have seen ongoing oil spills over time, leading to an intolerable economic situation. The goal of this study is to ascertain whether factors such as board size, board gender, board nationality, and board independence have an impact on environmental sustainability disclosure in Nigerian oil and gas companies. Ex-post facto research approach was used in this study to explore the cause-and-effect relationship between the dependent and independent variables. The study comprised of eight oil and gas companies in the Nigerian Exchange Group. Secondary data from 2011-2020 was used and panel multiple regression analysis was used to analyze the data. Results revealed board independence (BIND) showed positive relationship with environmental sustainability disclosure, but was insignificant to environmental sustainability disclosure, board size (BSZ) showed negative relationship with environmental sustainability disclosure, but was significant to environmental sustainability disclosure, while board gender diversity (BGD) showed negative relationship with environmental sustainability disclosure, but was insignificant to environmental sustainability disclosure, board nationality (BNAT) showed negative relationship with environmental sustainability disclosure, but was also insignificant to environmental sustainability disclosure. This study concluded that reduced board size would lead to increased environmental sustainability disclosure in oil and gas companies in Nigeria. Despite the negative relationship between environmental sustainability disclosure and independent variables, it is still believed that board diversity has a great influence on information disclosure. It is recommended that both the government and management of these companies should be alive to their responsibilities in maintaining and preserving the natural environment.
{"title":"Board Diversity and Environmental Sustainability Disclosure in Oil and Gas Companies: Evidence from Nigeria","authors":"Esosa Kenny Orumwense, Efosa Osa-Izeko","doi":"10.37745/ejaafr.2013/vol11n5113","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n5113","url":null,"abstract":"This study examines the influence of board diversity on environmental sustainability disclosure in oil and gas companies in Nigeria. Communities that produce oil in the Niger Delta region of Nigeria have seen ongoing oil spills over time, leading to an intolerable economic situation. The goal of this study is to ascertain whether factors such as board size, board gender, board nationality, and board independence have an impact on environmental sustainability disclosure in Nigerian oil and gas companies. Ex-post facto research approach was used in this study to explore the cause-and-effect relationship between the dependent and independent variables. The study comprised of eight oil and gas companies in the Nigerian Exchange Group. Secondary data from 2011-2020 was used and panel multiple regression analysis was used to analyze the data. Results revealed board independence (BIND) showed positive relationship with environmental sustainability disclosure, but was insignificant to environmental sustainability disclosure, board size (BSZ) showed negative relationship with environmental sustainability disclosure, but was significant to environmental sustainability disclosure, while board gender diversity (BGD) showed negative relationship with environmental sustainability disclosure, but was insignificant to environmental sustainability disclosure, board nationality (BNAT) showed negative relationship with environmental sustainability disclosure, but was also insignificant to environmental sustainability disclosure. This study concluded that reduced board size would lead to increased environmental sustainability disclosure in oil and gas companies in Nigeria. Despite the negative relationship between environmental sustainability disclosure and independent variables, it is still believed that board diversity has a great influence on information disclosure. It is recommended that both the government and management of these companies should be alive to their responsibilities in maintaining and preserving the natural environment.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"120949174","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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