Pub Date : 2023-05-15DOI: 10.37745/ejaafr.2013/vol11n52838
Ayinla Yisa Adeniji
The study analysed the importance of corporate governance practices in strengthening the relationship between retention policy and firm value from 2008 – 2018. The study adopted descriptive survey design and used secondary data. The population of the study comprised of 78 listed manufacturing firms on the Nigeria Stock Exchange as at the end of 2018. Purposive sampling technique was used to select firms with up-to-date published financial data and whose stocks were traded on the stock market totaling 56. The data were analysed using table, percentages and random effect estimation techniques. Findings from the analysis indicated that corporate governance index (t = 2.155, p<0.001), earnings per share (t=5.393, p<0.001) and retained earnings per share (t=9.761, p<0.001) were positively and significantly related to the market-to-book value of firms in Nigeria. The study therefore recommends that a higher level of retained profit of these firms together with efficient management practices through good governance will affect-their values positively.
{"title":"Retained Earnings, Corporate Governance and Market-To-Book Value of Listed Firms in Nigeria","authors":"Ayinla Yisa Adeniji","doi":"10.37745/ejaafr.2013/vol11n52838","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n52838","url":null,"abstract":"The study analysed the importance of corporate governance practices in strengthening the relationship between retention policy and firm value from 2008 – 2018. The study adopted descriptive survey design and used secondary data. The population of the study comprised of 78 listed manufacturing firms on the Nigeria Stock Exchange as at the end of 2018. Purposive sampling technique was used to select firms with up-to-date published financial data and whose stocks were traded on the stock market totaling 56. The data were analysed using table, percentages and random effect estimation techniques. Findings from the analysis indicated that corporate governance index (t = 2.155, p<0.001), earnings per share (t=5.393, p<0.001) and retained earnings per share (t=9.761, p<0.001) were positively and significantly related to the market-to-book value of firms in Nigeria. The study therefore recommends that a higher level of retained profit of these firms together with efficient management practices through good governance will affect-their values positively.","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":"127577466","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/vol11n51427
B. Okike, B. E. Ekoja, S. Nyahas
This study examines the impact of Philanthropic Social Responsibility on firm value of listed Deposit Money Banks (DMBs) in Nigeria. The study was motivated by conflicting findings by researchers on the relationship between Philanthropic Social Responsibility and firm value. The study used the correlational and ex-post facto research designs. The secondary data were extracted from the annual report and accounts of the 11 listed Deposit Money Banks by the Security and Exchange Commission of Nigeria as at 31st December 2021. Data collected was analysed using Regression analysis statistical tool with the aid of STATA analytical package. Findings from the analysis revealed that philanthropic Social Responsibility has significant positive relationship with the firm value of deposit money banks (DMB’s) in Nigeria. In view of the finding the study recommended that Management of deposit money banks (DMBs) listed in Nigeria should give more emphasis on philanthropic Responsibility. The is because of the positive role it’s play in improving the value of the firm.
{"title":"Impact of Philanthropic Corporate Social Responsibility on Firm Value of Deposit Money Banks in Nigeria","authors":"B. Okike, B. E. Ekoja, S. Nyahas","doi":"10.37745/ejaafr.2013/vol11n51427","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n51427","url":null,"abstract":"This study examines the impact of Philanthropic Social Responsibility on firm value of listed Deposit Money Banks (DMBs) in Nigeria. The study was motivated by conflicting findings by researchers on the relationship between Philanthropic Social Responsibility and firm value. The study used the correlational and ex-post facto research designs. The secondary data were extracted from the annual report and accounts of the 11 listed Deposit Money Banks by the Security and Exchange Commission of Nigeria as at 31st December 2021. Data collected was analysed using Regression analysis statistical tool with the aid of STATA analytical package. Findings from the analysis revealed that philanthropic Social Responsibility has significant positive relationship with the firm value of deposit money banks (DMB’s) in Nigeria. In view of the finding the study recommended that Management of deposit money banks (DMBs) listed in Nigeria should give more emphasis on philanthropic Responsibility. The is because of the positive role it’s play in improving the value of the firm.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"148 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":"122050406","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/vol11n692110
T. T. Siyanbola, Apollos Ndubuisi Nwaobia, E. Otitolaiye
Bank's asset quality deteriorates when banks are exposed to high non-performing loans and associated credit risks. Sustainability reporting deepens the acceptability and understanding of huge opportunities and enhances the corporate competitive advantage of the banks in enhancing banks’ assets quality. This study investigated the effect of sustainability reporting on the assets quality of listed deposit money banks (DMBs) in Ghana, Kenya and Nigeria. The study explored secondary data, using a population of 95 listed DMBs, while a sample size of 31 DMBs was purposively selected for a period of 12 years. Data were extracted from the annual financial records of the banks and sustainability reporting checklist in line with the Global Reporting Initiative. The validity and reliability of the data were premised on the statutory audit of the financial statements. Descriptive and inferential (multiple regression) statistics were used to analyze the data at a 5% significant level. The study found that sustainability reporting significantly affected the assets quality of the listed deposit money banks in Ghana, Kenya and Nigeria (Adj R2 = 0.47, Wald-test (4, 367) = 342.18, p < 0.05). Based on the finding, the study recommended managers of the banks should exhibit high professional competence, and exercise managerial expertise and ethical practices in compliance with sustainability reporting best corporate best practices capable of enhancing the assets quality of the banks.
{"title":"Sustainability Reporting and Assets Quality of Listed Deposit Money Banks in Ghana, Kenya and Nigeria","authors":"T. T. Siyanbola, Apollos Ndubuisi Nwaobia, E. Otitolaiye","doi":"10.37745/ejaafr.2013/vol11n692110","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n692110","url":null,"abstract":"Bank's asset quality deteriorates when banks are exposed to high non-performing loans and associated credit risks. Sustainability reporting deepens the acceptability and understanding of huge opportunities and enhances the corporate competitive advantage of the banks in enhancing banks’ assets quality. This study investigated the effect of sustainability reporting on the assets quality of listed deposit money banks (DMBs) in Ghana, Kenya and Nigeria. The study explored secondary data, using a population of 95 listed DMBs, while a sample size of 31 DMBs was purposively selected for a period of 12 years. Data were extracted from the annual financial records of the banks and sustainability reporting checklist in line with the Global Reporting Initiative. The validity and reliability of the data were premised on the statutory audit of the financial statements. Descriptive and inferential (multiple regression) statistics were used to analyze the data at a 5% significant level. The study found that sustainability reporting significantly affected the assets quality of the listed deposit money banks in Ghana, Kenya and Nigeria (Adj R2 = 0.47, Wald-test (4, 367) = 342.18, p < 0.05). Based on the finding, the study recommended managers of the banks should exhibit high professional competence, and exercise managerial expertise and ethical practices in compliance with sustainability reporting best corporate best practices capable of enhancing the assets quality of the banks.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"49 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":"123476612","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/vol11n6123
D. C. Akpan, Ubong Okon Nkanta
The severity of environmental degradation has its adverse impact on the quality of lives. Measures are being taken both at the national and international level to reduce and mitigate its impact on the environment, social, economic, and political sphere. This study investigated the effect of green accounting practices on shareholders’ value in Nigeria by drawing samples from listed consumer goods firms on the floor of the Nigerian Exchange Group from 2012 to 2021. Ex post facto design was used, secondary data were employed and least square dummy variable regression was used in analyzing the data. A sample size of 20 companies were determined using Tato Yamane formula and these companies were selected using simple random sampling technique. Green accounting being the dependent variable was proxied by biodiversity disclosure, emission disclosure, waste disclosure, water & effluents disclosure, and compliance to environmental laws & regulations disclosure. The dependent variable of this study was shareholders’ value proxied by shareholders’ value added (SHVA). The result showed that biodiversity disclosure and compliance to environmental laws disclosures have a positive significant effect on shareholders’ value added; water & effluents disclosures have a positive significant effect on shareholders’ value added of listed consumer goods firms in Nigeria during the period under study. It was thus concluded that green accounting practices have significant effect on shareholders’ value added of manufacturing companies in Nigeria. Therefore, it was recommended among others that compliance to green accounting practices should be made mandatory for all companies because standard green accounting disclosures are signals to all stakeholders that the companies are ‘green’ and eco- friendly companies and this in turn boost shareholders value.
{"title":"Green Accounting Practices and Shareholders’ Value of Listed Consumer Goods Companies in Nigeria","authors":"D. C. Akpan, Ubong Okon Nkanta","doi":"10.37745/ejaafr.2013/vol11n6123","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n6123","url":null,"abstract":"The severity of environmental degradation has its adverse impact on the quality of lives. Measures are being taken both at the national and international level to reduce and mitigate its impact on the environment, social, economic, and political sphere. This study investigated the effect of green accounting practices on shareholders’ value in Nigeria by drawing samples from listed consumer goods firms on the floor of the Nigerian Exchange Group from 2012 to 2021. Ex post facto design was used, secondary data were employed and least square dummy variable regression was used in analyzing the data. A sample size of 20 companies were determined using Tato Yamane formula and these companies were selected using simple random sampling technique. Green accounting being the dependent variable was proxied by biodiversity disclosure, emission disclosure, waste disclosure, water & effluents disclosure, and compliance to environmental laws & regulations disclosure. The dependent variable of this study was shareholders’ value proxied by shareholders’ value added (SHVA). The result showed that biodiversity disclosure and compliance to environmental laws disclosures have a positive significant effect on shareholders’ value added; water & effluents disclosures have a positive significant effect on shareholders’ value added of listed consumer goods firms in Nigeria during the period under study. It was thus concluded that green accounting practices have significant effect on shareholders’ value added of manufacturing companies in Nigeria. Therefore, it was recommended among others that compliance to green accounting practices should be made mandatory for all companies because standard green accounting disclosures are signals to all stakeholders that the companies are ‘green’ and eco- friendly companies and this in turn boost shareholders value.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"17 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":"115333194","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/vol11n62440
A. Ajayi, F. F. Adegbie, S. Dada
A good price-earnings ratio is a result of excellent corporate performance; nevertheless, reaching a desirable price-earnings ratio in typical Nigerian manufacturing enterprises is complex and difficult. Meeting price-earnings ratio expectation of shareholder as companies were faced with complexities and unethical non-compliances issues. Studies have suggested that effective environmental disclosure has the capacity to enhance the price-earnings ratios in manufacturing companies. This study was to examine the effect of environmental disclosure on the price-earnings ratio of listed manufacturing companies listed in Nigeria. The study employed an ex-post facto research design. The population of the study was the 66 listed manufacturing companies listed on the Nigerian Exchange Group as of 31st December 2021. Using purposive sampling technique 29 manufacturing companies were selected. Validated data, covering a period of 16 years (2006 -2021) were extracted from published financial statements of the selected manufacturing companies. The reliability of the data was premised on the statutory audit of the financial statements. Descriptive and inferential (multiple regression) statistics were used to analyze the data at a 5% significant level. The findings revealed that environmental disclosure affected the price-earnings ratio of manufacturing companies in Nigeria (Adj.R2 = 0.218, F (5, 458) = 22.87, p < 0.05) . The study recommended that the management of companies should embrace sustainable environmental disclosure to ensure an effective price-earnings ratio for manufacturing companies in Nigeria
良好的市盈率是优秀的公司业绩的结果;然而，在典型的尼日利亚制造企业中达到理想的市盈率是复杂和困难的。公司面临着复杂和不道德的违规问题，满足股东的市盈率预期。研究表明，有效的环境信息披露能够提高制造企业的市盈率。本研究旨在探讨环境披露对尼日利亚制造业上市公司市盈率的影响。本研究采用事后研究设计。该研究的对象是截至2021年12月31日在尼日利亚交易所集团上市的66家上市制造公司。采用有目的抽样技术，选取了29家生产企业。经过验证的数据，涵盖16年(2006 -2021)，从选定的制造公司公布的财务报表中提取。数据的可靠性是以财务报表的法定审计为前提的。采用描述性和推理(多元回归)统计在5%显著水平上分析数据。研究发现，环境信息披露对尼日利亚制造业企业的市盈率有影响(Adj.R2 = 0.218, F (5,458) = 22.87, p < 0.05)。该研究建议，公司管理层应接受可持续的环境信息披露，以确保尼日利亚制造业公司的有效市盈率
{"title":"Environmental Disclosure and Price-earnings Ratio of Manufacturing Companies Listed in Nigeria","authors":"A. Ajayi, F. F. Adegbie, S. Dada","doi":"10.37745/ejaafr.2013/vol11n62440","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n62440","url":null,"abstract":"A good price-earnings ratio is a result of excellent corporate performance; nevertheless, reaching a desirable price-earnings ratio in typical Nigerian manufacturing enterprises is complex and difficult. Meeting price-earnings ratio expectation of shareholder as companies were faced with complexities and unethical non-compliances issues. Studies have suggested that effective environmental disclosure has the capacity to enhance the price-earnings ratios in manufacturing companies. This study was to examine the effect of environmental disclosure on the price-earnings ratio of listed manufacturing companies listed in Nigeria. The study employed an ex-post facto research design. The population of the study was the 66 listed manufacturing companies listed on the Nigerian Exchange Group as of 31st December 2021. Using purposive sampling technique 29 manufacturing companies were selected. Validated data, covering a period of 16 years (2006 -2021) were extracted from published financial statements of the selected manufacturing companies. The reliability of the data was premised on the statutory audit of the financial statements. Descriptive and inferential (multiple regression) statistics were used to analyze the data at a 5% significant level. The findings revealed that environmental disclosure affected the price-earnings ratio of manufacturing companies in Nigeria (Adj.R2 = 0.218, F (5, 458) = 22.87, p < 0.05) . The study recommended that the management of companies should embrace sustainable environmental disclosure to ensure an effective price-earnings ratio for manufacturing companies in Nigeria","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"33 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":"125489150","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/vol11n57183
Ayinla Yisa Adeniji, Hannah Anuoluwapo Adeniyi
This paper examined the level of corporate governance compliance and its effect on the market value of listed manufacturing firms in Nigeria. The study adopted descriptive survey research design and used secondary data. The population of the study comprised of 78 listed manufacturing firms on the Nigeria Stock Exchange at the end of 2018. Using purposive sampling techniques, relevant data were obtained from 56 firms whose stocks were traded consistently on the stock market. Corporate governance practices and all other relevant economic data were obtained from the firm’s annual reports, the publication of the Nigeria Stock Exchange (NSE) as well as the website of the firms. The data were analyzed using tables, percentages and random effect estimation. The empirical and significant relationship between corporate governance index (t = 10.680 p < 0.001, t = 13.682 p < 0.001, and t = 11.206 p < 0.001) and firms’ value are found to be positive and highly significant in the three estimations. The study concluded that corporate governance is a value driver. The extended findings from the study also indicated that corporate governance mechanisms put in place by firms can ensure financial transparency and serve as catalyst towards ensuring proper utilization of the capital contributed to the firm by its inventors.
本文考察了尼日利亚制造业上市公司的公司治理合规水平及其对市场价值的影响。本研究采用描述性调查研究设计，并使用二手资料。该研究的对象包括2018年底在尼日利亚证券交易所上市的78家制造公司。采用有目的的抽样技术，从56家股票在股票市场上持续交易的公司中获得相关数据。公司治理实践和所有其他相关经济数据均来自公司的年度报告、尼日利亚证券交易所(NSE)的出版物以及公司的网站。数据分析采用表格、百分比和随机效应估计。公司治理指标(t = 10.680 p <0.001, t = 13.682 p <0.001, t = 11.206 p <0.001)，公司的价值在三个估计中都是正的，并且高度显著。该研究的结论是，公司治理是一个价值驱动因素。该研究的扩展结果还表明，公司建立的公司治理机制可以确保财务透明度，并作为催化剂，确保发明者向公司贡献的资本得到适当利用。
{"title":"Corporate Governance and Market Value of Listed Manufacturing Firms in Nigeria","authors":"Ayinla Yisa Adeniji, Hannah Anuoluwapo Adeniyi","doi":"10.37745/ejaafr.2013/vol11n57183","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n57183","url":null,"abstract":"This paper examined the level of corporate governance compliance and its effect on the market value of listed manufacturing firms in Nigeria. The study adopted descriptive survey research design and used secondary data. The population of the study comprised of 78 listed manufacturing firms on the Nigeria Stock Exchange at the end of 2018. Using purposive sampling techniques, relevant data were obtained from 56 firms whose stocks were traded consistently on the stock market. Corporate governance practices and all other relevant economic data were obtained from the firm’s annual reports, the publication of the Nigeria Stock Exchange (NSE) as well as the website of the firms. The data were analyzed using tables, percentages and random effect estimation. The empirical and significant relationship between corporate governance index (t = 10.680 p < 0.001, t = 13.682 p < 0.001, and t = 11.206 p < 0.001) and firms’ value are found to be positive and highly significant in the three estimations. The study concluded that corporate governance is a value driver. The extended findings from the study also indicated that corporate governance mechanisms put in place by firms can ensure financial transparency and serve as catalyst towards ensuring proper utilization of the capital contributed to the firm by its inventors.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"6 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":"135141100","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}
The accounting and recording approach have been impacted by the expansion of the internet and the advancement of information technology. Cloud accounting is a result of the use of cloud computing technology. Cloud computing is growing in acceptance, and more companies are using cloud-based software to boost productivity and gain a number of other advantages. The purpose of this study was to learn more about the advantages and difficulties of implementing a cloud-based accounting information system. The study, which employed a qualitative approach, discovered that cloud accounting enhanced operations compared to using in-house software, increased accessibility of the banks' services, and sped up customer turnaround time. High maintenance costs, network failure, trouble deciphering reported error codes, insufficient technical help, and system failure during an update are a few of the difficulties.
{"title":"Qualitative Analysis on Costs and Benefits of Adopting a Cloud-Based Accounting Information System: A Case Study of Rural Banks in Ghana","authors":"Evans Kelvin Gyau, Kofi Owiredu-Ghorman, Newman Amaning, Pascal Boruzie Kpimekuu","doi":"10.37745/ejaafr.2013/vol11n67091","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n67091","url":null,"abstract":"The accounting and recording approach have been impacted by the expansion of the internet and the advancement of information technology. Cloud accounting is a result of the use of cloud computing technology. Cloud computing is growing in acceptance, and more companies are using cloud-based software to boost productivity and gain a number of other advantages. The purpose of this study was to learn more about the advantages and difficulties of implementing a cloud-based accounting information system. The study, which employed a qualitative approach, discovered that cloud accounting enhanced operations compared to using in-house software, increased accessibility of the banks' services, and sped up customer turnaround time. High maintenance costs, network failure, trouble deciphering reported error codes, insufficient technical help, and system failure during an update are a few of the difficulties.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"4 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":"126488402","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 : 2023-03-15DOI: 10.37745/ejaafr.2013/vol11n4114
Esosa Kenny Orumwense, Osaro Orumwense
This study investigates the impact of corporate governance on the financial performance of Nigeria's publicly traded commercial banks. The objective of this study is to determine if board size, board female gender, and board independence have effect on the financial performance of quoted commercial banks in Nigeria. Five (5) quoted commercial banks in Nigeria was examined, ranging from the years 2011 to 2020. Secondary data was used and obtained from the bank’s annual reports published in Nigeria Exchange Group. Cross-Sectional research design was used, and the method of data analysis used was panel multiple regression. Findings revealed that board independence has a significant impact on financial performance ( return on assets) of quoted commercial banks in Nigeria but shows negative relationship with financial performance ( return on assets) of quoted commercial banks, study further revealed that board size has a negative relationship with bank's financial performance (return on assets) but has significant value on the financial performance (return on assets) , findings also revealed that at least two female board members were represented in every corporate organization studied, female board membership has a positive relationship with banks' financial performance (Return on Assets), but shows insignificant value on financial performance (return on assets). The study concluded and recommended that, despite some of the independent variables shows insignificant values, Board independent, Board size, Board female gender mechanisms continue to be a critical component of corporate governance in achieving any organization's objectives, financial or otherwise.
{"title":"Effect of Corporate Governance on Financial Performance of Quoted Commercial Banks in Nigeria","authors":"Esosa Kenny Orumwense, Osaro Orumwense","doi":"10.37745/ejaafr.2013/vol11n4114","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n4114","url":null,"abstract":"This study investigates the impact of corporate governance on the financial performance of Nigeria's publicly traded commercial banks. The objective of this study is to determine if board size, board female gender, and board independence have effect on the financial performance of quoted commercial banks in Nigeria. Five (5) quoted commercial banks in Nigeria was examined, ranging from the years 2011 to 2020. Secondary data was used and obtained from the bank’s annual reports published in Nigeria Exchange Group. Cross-Sectional research design was used, and the method of data analysis used was panel multiple regression. Findings revealed that board independence has a significant impact on financial performance ( return on assets) of quoted commercial banks in Nigeria but shows negative relationship with financial performance ( return on assets) of quoted commercial banks, study further revealed that board size has a negative relationship with bank's financial performance (return on assets) but has significant value on the financial performance (return on assets) , findings also revealed that at least two female board members were represented in every corporate organization studied, female board membership has a positive relationship with banks' financial performance (Return on Assets), but shows insignificant value on financial performance (return on assets). The study concluded and recommended that, despite some of the independent variables shows insignificant values, Board independent, Board size, Board female gender mechanisms continue to be a critical component of corporate governance in achieving any organization's objectives, financial or otherwise.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"18 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123884007","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 : 2023-03-15DOI: 10.37745/ejaafr.2013/vol11n44759
Dennis, Mucee Ncurai, M. Oloko, C. Rambo
This research examined the effect of Audit committee characteristics on performance of Deposit Taking Saccos in Kenya. Audit committee characteristics was measured by independence, terms of service and study specialization as proxy. The study was guided by the Agency Theory and adopted descriptive cross-sectional survey and correlational research designs. A sample size was 108 licensed Deposit Taking Saccos drawn from a target population of 175. Primary data was collected from the board members and management executives. The analysis was done using descriptive statistics and multiple regressions. The study findings suggest that the overall correlation coefficient for Audit Committee characteristics and performance was found to be 0.144 with a p-value of 0.143> =0.05. This implies a weak positive and insignificant relationship between Audit Committee characteristics and performance. Based on findings, the study recommends proper constitution of audit committee with well spelt out terms of service and a consideration be made on appropriate study specialization. Independence of audit committee must be complied with to ensure conformity to best standards of practice. Areas for further studies suggested are conducting studies in other contexts to corroborate these findings and consideration of effect of other variables of Audit Committee characteristics on the performance.
{"title":"Audit Committee and Performance: Evidence from Kenyan Deposit Taking Saccos","authors":"Dennis, Mucee Ncurai, M. Oloko, C. Rambo","doi":"10.37745/ejaafr.2013/vol11n44759","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n44759","url":null,"abstract":"This research examined the effect of Audit committee characteristics on performance of Deposit Taking Saccos in Kenya. Audit committee characteristics was measured by independence, terms of service and study specialization as proxy. The study was guided by the Agency Theory and adopted descriptive cross-sectional survey and correlational research designs. A sample size was 108 licensed Deposit Taking Saccos drawn from a target population of 175. Primary data was collected from the board members and management executives. The analysis was done using descriptive statistics and multiple regressions. The study findings suggest that the overall correlation coefficient for Audit Committee characteristics and performance was found to be 0.144 with a p-value of 0.143> =0.05. This implies a weak positive and insignificant relationship between Audit Committee characteristics and performance. Based on findings, the study recommends proper constitution of audit committee with well spelt out terms of service and a consideration be made on appropriate study specialization. Independence of audit committee must be complied with to ensure conformity to best standards of practice. Areas for further studies suggested are conducting studies in other contexts to corroborate these findings and consideration of effect of other variables of Audit Committee characteristics on the performance.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133174727","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 : 2023-03-15DOI: 10.37745/ejaafr.2013/vol11n32753
George Loizides, M. Charitou, Petros Lois
The aim of this study is to examine the market reaction to COVID- 19 on European capital markets and its long-run performance. Using a dataset of 3,181 firms over the period 2019-2021 results show that the COVID-19 effect differs by region, country and sector. The average cumulative abnormal returns (CARs) for the European countries under investigation are -12.32%, with Austria (-19.24%), Germany (-16.31%) and Ireland (-16.63%) being the most affected countries from the pandemic over the 11-day window around the event. Sectors were affected differently, with Energy (-15.74%), as expected, being the most negatively affected in the short run. Regarding the long-term effects of the pandemic, evidence based on the 18-month buy and hold raw returns (BHR) shows increase of 41.6%, with the Utilities sector being the best performer in the Southeastern EU with BHR returns of 124.6%. Interestingly, our evidence suggests that larger, more profitable, more efficient firms with greater operating cash flow ability were those that yield the greatest long run market return performance after the pandemic.
{"title":"The market reaction to COVID-19: European Evidence","authors":"George Loizides, M. Charitou, Petros Lois","doi":"10.37745/ejaafr.2013/vol11n32753","DOIUrl":"https://doi.org/10.37745/ejaafr.2013/vol11n32753","url":null,"abstract":"The aim of this study is to examine the market reaction to COVID- 19 on European capital markets and its long-run performance. Using a dataset of 3,181 firms over the period 2019-2021 results show that the COVID-19 effect differs by region, country and sector. The average cumulative abnormal returns (CARs) for the European countries under investigation are -12.32%, with Austria (-19.24%), Germany (-16.31%) and Ireland (-16.63%) being the most affected countries from the pandemic over the 11-day window around the event. Sectors were affected differently, with Energy (-15.74%), as expected, being the most negatively affected in the short run. Regarding the long-term effects of the pandemic, evidence based on the 18-month buy and hold raw returns (BHR) shows increase of 41.6%, with the Utilities sector being the best performer in the Southeastern EU with BHR returns of 124.6%. Interestingly, our evidence suggests that larger, more profitable, more efficient firms with greater operating cash flow ability were those that yield the greatest long run market return performance after the pandemic.","PeriodicalId":166026,"journal":{"name":"European Journal of Accounting, Auditing and Finance Research","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129305854","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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