The study investigated the effect of budget implementation on performance: a comparative analysis of six Southwest states in Nigeria over the period of 10 years spanning from 2012- 2021. This is done specifically to explore the effect of capital expenditure, recurrent expenditure, statutory allocation and intervention fund on per-capita income in Nigeria. Ex-post-facto research design was employed in the study because the data were obtained secondarily from National Bureau of Statistics. Data collected were analysed using descriptive statistics and regression analysis. Finding revealed that capital expenditure, recurrent expenditure, statutory allocation and intervention fund have positive and significant effect on performance in Oyo, Ogun and Lagos states respectively. It however revealed that capital expenditure and statutory allocation have positive and significant effect in Osun state, while capital expenditure and intervention fund was discovered to portrayed a positive and significant effect on performance in Ondo state, and the study further showed that statutory allocation and intervention fund have positive and significant effect on performance in Ekiti state. The implication of this result is that Lagos state as well as Ogun state and Oyo state have shown an exemplary example in its budget implementation which significantly affected performance, the role statutory allocation and intervention have been judiciously used and channeled to respective quarters in the case of Lagos, Ogun and Oyo states whereas, the reverse is the same in Ondo, Osun and Ekiti States, as such, statutory allocation and
{"title":"Public Sector Budget Implementation and Performance: A Comparative Analysis of Southwestern States in Nigeria","authors":"AJOLOKO Olatunde Matthew, OWONIFARI Victor Olufemi, ADEWARA Yinka Motunrayo, OGUNSANWO Odunayo Femi","doi":"10.56201/jafm.v9.no9.2023.pg81.102","DOIUrl":"https://doi.org/10.56201/jafm.v9.no9.2023.pg81.102","url":null,"abstract":"The study investigated the effect of budget implementation on performance: a comparative analysis of six Southwest states in Nigeria over the period of 10 years spanning from 2012- 2021. This is done specifically to explore the effect of capital expenditure, recurrent expenditure, statutory allocation and intervention fund on per-capita income in Nigeria. Ex-post-facto research design was employed in the study because the data were obtained secondarily from National Bureau of Statistics. Data collected were analysed using descriptive statistics and regression analysis. Finding revealed that capital expenditure, recurrent expenditure, statutory allocation and intervention fund have positive and significant effect on performance in Oyo, Ogun and Lagos states respectively. It however revealed that capital expenditure and statutory allocation have positive and significant effect in Osun state, while capital expenditure and intervention fund was discovered to portrayed a positive and significant effect on performance in Ondo state, and the study further showed that statutory allocation and intervention fund have positive and significant effect on performance in Ekiti state. The implication of this result is that Lagos state as well as Ogun state and Oyo state have shown an exemplary example in its budget implementation which significantly affected performance, the role statutory allocation and intervention have been judiciously used and channeled to respective quarters in the case of Lagos, Ogun and Oyo states whereas, the reverse is the same in Ondo, Osun and Ekiti States, as such, statutory allocation and","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135968407","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 : 2023-10-12DOI: 10.56201/jafm.v9.no9.2023.pg144.157
Macmilan Ahmadu, Audu Ardo Taimin
The use of Information Technology (IT) is becoming increasingly popular in business. The role of IT now hold ace in contemporary business around the world. From sole proprietorship to the desk of the corporate executive IT has completely taken the place or satisfactorily complimented manual data processing. The rapid changes and application of technology have motivated accounting firms to invest in technology to ensure that they are up to date with the current technology. In accounting, technology is broadly used in recording, bookkeeping, generating financial reports, auditing and designing a better costing system for an organization. This study evaluates the determinants of technology adoption among small audit firms in Gombe metropolis. The study adopted the descriptive survey research design and the primary means of data collection was questionnaire administered on audit firms. Descriptive statistics and regression analysis were used to analyse the data. The findings showed among others that individual intentions significantly influence the adoption of technology in small audit firms. The study recommended that principal audit partners should increase their commitment and readiness to provide trainings as well as infrastructure for audit technology adoption by their firms.
{"title":"Information Technology in Audit Processes. An Evidence from Small Audit Firms in Gombe Metropolis","authors":"Macmilan Ahmadu, Audu Ardo Taimin","doi":"10.56201/jafm.v9.no9.2023.pg144.157","DOIUrl":"https://doi.org/10.56201/jafm.v9.no9.2023.pg144.157","url":null,"abstract":"The use of Information Technology (IT) is becoming increasingly popular in business. The role of IT now hold ace in contemporary business around the world. From sole proprietorship to the desk of the corporate executive IT has completely taken the place or satisfactorily complimented manual data processing. The rapid changes and application of technology have motivated accounting firms to invest in technology to ensure that they are up to date with the current technology. In accounting, technology is broadly used in recording, bookkeeping, generating financial reports, auditing and designing a better costing system for an organization. This study evaluates the determinants of technology adoption among small audit firms in Gombe metropolis. The study adopted the descriptive survey research design and the primary means of data collection was questionnaire administered on audit firms. Descriptive statistics and regression analysis were used to analyse the data. The findings showed among others that individual intentions significantly influence the adoption of technology in small audit firms. The study recommended that principal audit partners should increase their commitment and readiness to provide trainings as well as infrastructure for audit technology adoption by their firms.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135968404","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 : 2023-10-10DOI: 10.1108/jpbafm-03-2023-0038
Sandra Cohen, Sotirios Karatzimas
Purpose The scope of this study is to explore informed citizens' engagement in the development of real municipalities' popular reports. For this purpose, an exploratory experiment is performed where potential users of popular reports with certain accounting skills (i.e. groups of undergraduate accounting students) act as preparers of these reports. Design/methodology/approach The study uses insights from the sense of belonging theory in an ambivalent way: to explain citizens' interest in popular reports and to consider popular reports as an impetus triggering citizens' sense of belonging. By content-analyzing the reports developed and taking stock of the students' perceptions on aspects of popular reports, a template for a popular report for local governments is synthesized. Further, by comparing the study findings with theoretical recommendations and popular reporting practices, the authors offer insights on the content and layout of popular reports which is expected to enhance the sense of belonging of citizens within their city. Findings The undergraduate students while relying on earlier examples and existing models have created their own reports in which they have used financial and non-financial information indicating the significance of both types of information for citizens. The evidenced heterogeneity in the developed reports is expected to be the effect of the sense of belonging. Moreover, the study reveals citizens' positive stance toward the adoption of co-development and co-creation approaches in the design of popular reports by citizen groups and municipal authorities which is consistent with a sense of belonging mobilization. Originality/value This study adds to the literature on the content and characteristics of popular reports by giving voice to the citizens themselves through an exploratory experiment that permits the sense of belonging to take effect.
{"title":"Users in preparers' shoes: mobilizing the sense of belonging in popular report development in local governments","authors":"Sandra Cohen, Sotirios Karatzimas","doi":"10.1108/jpbafm-03-2023-0038","DOIUrl":"https://doi.org/10.1108/jpbafm-03-2023-0038","url":null,"abstract":"Purpose The scope of this study is to explore informed citizens' engagement in the development of real municipalities' popular reports. For this purpose, an exploratory experiment is performed where potential users of popular reports with certain accounting skills (i.e. groups of undergraduate accounting students) act as preparers of these reports. Design/methodology/approach The study uses insights from the sense of belonging theory in an ambivalent way: to explain citizens' interest in popular reports and to consider popular reports as an impetus triggering citizens' sense of belonging. By content-analyzing the reports developed and taking stock of the students' perceptions on aspects of popular reports, a template for a popular report for local governments is synthesized. Further, by comparing the study findings with theoretical recommendations and popular reporting practices, the authors offer insights on the content and layout of popular reports which is expected to enhance the sense of belonging of citizens within their city. Findings The undergraduate students while relying on earlier examples and existing models have created their own reports in which they have used financial and non-financial information indicating the significance of both types of information for citizens. The evidenced heterogeneity in the developed reports is expected to be the effect of the sense of belonging. Moreover, the study reveals citizens' positive stance toward the adoption of co-development and co-creation approaches in the design of popular reports by citizen groups and municipal authorities which is consistent with a sense of belonging mobilization. Originality/value This study adds to the literature on the content and characteristics of popular reports by giving voice to the citizens themselves through an exploratory experiment that permits the sense of belonging to take effect.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136360068","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 : 2023-10-09DOI: 10.56201/jafm.v9.no8.2023.pg12.34
Promise I. Wokeh, Collins O. Nmehielle
The financial performance of agricultural has been declining to recent time where most of the agricultural firms reported deficits in their income statement, following the dwindling revenues, firms are in a deep financial crisis that can possibly lead some of them to a halt. Proper cash management is essential for any organizational survival. This is because an institutions’ inability to identify relevant cash management practices can be its source of inability to perform. The general objective of this study was to determine the effect of cash management on financial performance of listed agricultural firms in Nigeria. The study employed an ex-post facto research design. The study population was five (5) listed agricultural firms on the Nigerian Exchange Group (NGX). A sample size of five (5) agricultural firms was used using a census sampling technique covering ten financial years (2012 to 2021). The data used in this study were secondary sourced from annual reports and statement of accounts of the selected firms between 2012 and 2021. The method of data analysis is descriptive statistic, unit root test, diagnostics test and panel ordinary least square (OLS) with the help of E-view v12. The findings showed that there is a significant effect of cash and cash equivalent on return on assets, there is no significant effect of cash turnover on return on assets, there is no significant effect of cash and cash equivalent on return on equity and there is no significant effect of cash turnover on return on equity of listed agricultural firms in Nigeria. It was suggested amongst others that given that cash and cash equivalent were found to enhance return on assets as a measure of financial performance of agricultural firms, this study therefore recommends for continuous embracement of these cash and cash equivalent by agricultural firms in Nigeria.
{"title":"Cash Management and Financial Performance of Listed Agricultural Firms in Nigeria","authors":"Promise I. Wokeh, Collins O. Nmehielle","doi":"10.56201/jafm.v9.no8.2023.pg12.34","DOIUrl":"https://doi.org/10.56201/jafm.v9.no8.2023.pg12.34","url":null,"abstract":"The financial performance of agricultural has been declining to recent time where most of the agricultural firms reported deficits in their income statement, following the dwindling revenues, firms are in a deep financial crisis that can possibly lead some of them to a halt. Proper cash management is essential for any organizational survival. This is because an institutions’ inability to identify relevant cash management practices can be its source of inability to perform. The general objective of this study was to determine the effect of cash management on financial performance of listed agricultural firms in Nigeria. The study employed an ex-post facto research design. The study population was five (5) listed agricultural firms on the Nigerian Exchange Group (NGX). A sample size of five (5) agricultural firms was used using a census sampling technique covering ten financial years (2012 to 2021). The data used in this study were secondary sourced from annual reports and statement of accounts of the selected firms between 2012 and 2021. The method of data analysis is descriptive statistic, unit root test, diagnostics test and panel ordinary least square (OLS) with the help of E-view v12. The findings showed that there is a significant effect of cash and cash equivalent on return on assets, there is no significant effect of cash turnover on return on assets, there is no significant effect of cash and cash equivalent on return on equity and there is no significant effect of cash turnover on return on equity of listed agricultural firms in Nigeria. It was suggested amongst others that given that cash and cash equivalent were found to enhance return on assets as a measure of financial performance of agricultural firms, this study therefore recommends for continuous embracement of these cash and cash equivalent by agricultural firms in Nigeria.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135095210","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 : 2023-10-09DOI: 10.56201/jafm.v9.no8.2023.pg1.11
Okumoh Nigeria Odaumiebi
Small and medium scale enterprises bring about development and creates job for the majority of citizens in a society. No economy has ever grown without taking great majors in ensuring their survival in the world. The recent call for foreign workers in Europe and America is to care for this sector of the economy. Nigeria has continued to experience a constant failure of these enterprises over the years, and it has become necessary to seek for solutions to enable the survival and these enterprises and to see them grow to partnerships and limited liability companies. This study takes a look at the use of financial literacy and proper accounting record keeping as a solution to the problem. A questionnaire was used to collect primary data from small and medium scale enterprises in Yenagoa, Bayelsa state. The data was analyzed with simple percentage and correlation. The results show that having a good knowledge of finance and preparing proper books of account has a positive and significant relationship with the survival and profitability of small and medium scale enterprises in Yenagoa, Bayelsa State. The study recommended that small and medium scale enterprises should prepare annual reports and submit them to the ministry of trade and industry for auditing.
{"title":"An Investigation on the Impact of Financial Literacy and the Survival of Small and Medium Scale Enterprises in Yenagoa, Bayelsa State","authors":"Okumoh Nigeria Odaumiebi","doi":"10.56201/jafm.v9.no8.2023.pg1.11","DOIUrl":"https://doi.org/10.56201/jafm.v9.no8.2023.pg1.11","url":null,"abstract":"Small and medium scale enterprises bring about development and creates job for the majority of citizens in a society. No economy has ever grown without taking great majors in ensuring their survival in the world. The recent call for foreign workers in Europe and America is to care for this sector of the economy. Nigeria has continued to experience a constant failure of these enterprises over the years, and it has become necessary to seek for solutions to enable the survival and these enterprises and to see them grow to partnerships and limited liability companies. This study takes a look at the use of financial literacy and proper accounting record keeping as a solution to the problem. A questionnaire was used to collect primary data from small and medium scale enterprises in Yenagoa, Bayelsa state. The data was analyzed with simple percentage and correlation. The results show that having a good knowledge of finance and preparing proper books of account has a positive and significant relationship with the survival and profitability of small and medium scale enterprises in Yenagoa, Bayelsa State. The study recommended that small and medium scale enterprises should prepare annual reports and submit them to the ministry of trade and industry for auditing.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135094995","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 : 2023-10-09DOI: 10.56201/jafm.v9.no8.2023.pg97.112
U. Egbadju Lawrence
This study investigates whether there is any relationship between audit committee characteristics and financial restatement. Using secondary data over the period from 2009 to 2020 of 12 non- financial firms, the results of the Panel Estimated Generalized Least Squares (EGLS Period SUR) reveal that audit firm size, audit tenure, audit fees, audit firm age and joint audit are negatively and statistically significant with earnings management while audit independence has a positive and significant impact of earnings management. The overall results shows that audit quality significantly influenced earnings management and that help in reducing managers tendencies to reduce the practices of managing earnings for whatever the reasons. The study concludes with some recommendations for better performance reporting.
本研究探讨审计委员会特征与财务重述之间是否存在关系。利用2009年至2020年12家非金融公司的二手数据，面板估计广义最小二乘(EGLS period SUR)的结果显示，审计事务所规模、审计任期、审计费用、审计事务所年龄和联合审计对盈余管理具有显著的负向影响，而审计独立性对盈余管理具有显著的正向影响。总体结果表明，审计质量显著影响盈余管理，这有助于减少管理者倾向于减少管理盈余的做法，无论出于何种原因。该研究最后提出了一些改进性能报告的建议。
{"title":"Audit Quality and Earnings Management of Listed Manufacturing Firms in Nigeria","authors":"U. Egbadju Lawrence","doi":"10.56201/jafm.v9.no8.2023.pg97.112","DOIUrl":"https://doi.org/10.56201/jafm.v9.no8.2023.pg97.112","url":null,"abstract":"This study investigates whether there is any relationship between audit committee characteristics and financial restatement. Using secondary data over the period from 2009 to 2020 of 12 non- financial firms, the results of the Panel Estimated Generalized Least Squares (EGLS Period SUR) reveal that audit firm size, audit tenure, audit fees, audit firm age and joint audit are negatively and statistically significant with earnings management while audit independence has a positive and significant impact of earnings management. The overall results shows that audit quality significantly influenced earnings management and that help in reducing managers tendencies to reduce the practices of managing earnings for whatever the reasons. The study concludes with some recommendations for better performance reporting.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135095333","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 : 2023-10-07DOI: 10.56201/jafm.v9.no8.2023.pg46.58
Salisu Auwalu, Isah Sulaiman, Mahmud Mohammed Lele
Accountability in the public sector throughout the world is being given serious attention in view of the fact that the government is the highest spender of public fund. The aim of this study is to show that societies which exhibit the norms of unethical behavior and lack of accountability are more likely to encounter difficulties. Such difficulties would prevent the accomplishment of the sustainable developmental goals and objectives of government, thereby leading to lack of sustainable development. Data for the study was collected from primary sources through the use of questionnaires. The data collection is from the finance departments of ministries, department and agencies of the federal government located in Plateau state. A probability method of simple random sampling technique was employed in selecting the respondents to be administered the questionnaire. For the purpose of data analysis, the multiple linear regression analysis technique was adopted to determine the effect of accountability in public sector on sustainable economic development. From the analysis carried out it was found that accountability in MDAs has a significant effect on sustainable development in Nigeria and it was recommended that accountability should be integrated into all aspects of public sector especially MDAs management in order to preserve sustainable development and the public trust in government and its officials.
{"title":"Effect of Accountability of MDAs on Sustainable Economic Development in Nigeria","authors":"Salisu Auwalu, Isah Sulaiman, Mahmud Mohammed Lele","doi":"10.56201/jafm.v9.no8.2023.pg46.58","DOIUrl":"https://doi.org/10.56201/jafm.v9.no8.2023.pg46.58","url":null,"abstract":"Accountability in the public sector throughout the world is being given serious attention in view of the fact that the government is the highest spender of public fund. The aim of this study is to show that societies which exhibit the norms of unethical behavior and lack of accountability are more likely to encounter difficulties. Such difficulties would prevent the accomplishment of the sustainable developmental goals and objectives of government, thereby leading to lack of sustainable development. Data for the study was collected from primary sources through the use of questionnaires. The data collection is from the finance departments of ministries, department and agencies of the federal government located in Plateau state. A probability method of simple random sampling technique was employed in selecting the respondents to be administered the questionnaire. For the purpose of data analysis, the multiple linear regression analysis technique was adopted to determine the effect of accountability in public sector on sustainable economic development. From the analysis carried out it was found that accountability in MDAs has a significant effect on sustainable development in Nigeria and it was recommended that accountability should be integrated into all aspects of public sector especially MDAs management in order to preserve sustainable development and the public trust in government and its officials.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135253141","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 : 2023-10-07DOI: 10.56201/jafm.v9.no8.2023.pg130.153
Stanley Diepiriye Davies
This study examined the effect of board size on the value of quoted manufacturing firms in Nigeria. The purpose is to examine the relationship between board size and value. Panel data was sourced from financial statement of the quoted firms from 2011 to 2020. Market value and equity value were modeled as a function of board size, board composition, board independence and board gender diversity. Panel data Ordinary least square method was used as data analysis technique. The study found that 53 percent variation in market value of the quoted firms can be explained by variation in the board characteristics. The results indicated that board independence and board composition have positive but no significant effect on the market value of the quoted manufacturing firms while the results indicates that board size and board gender diversity have negative and no significant effect on market value of quoted manufacturing firms in Nigeria. 31 percent variation in equity value of the quoted firms can be explained by variation in the board characteristics. The results indicate that board independence and board composition have positive but no significant effect on the equity value of the quoted manufacturing firms while the results indicates that board size and board gender diversity have negative and no significant effect on equity value of quoted manufacturing firms in Nigeria. From the findings, the study concludes that board characteristics have greater impact on market value than equity value. It recommends that board diversity components of Nigeria food and beverage firms which include gender diversity, board size, board independence, and board-director duality need to be strengthened to positively affect value of the firms and the need for managers to ensure that the size of the board is also congruent to organizational needs, such that the board size, competencies, skills and ability advance organizational quest for increase value of the firms
{"title":"Board Characteristics and the Value of Quoted Manufacturing Firms in Nigeria","authors":"Stanley Diepiriye Davies","doi":"10.56201/jafm.v9.no8.2023.pg130.153","DOIUrl":"https://doi.org/10.56201/jafm.v9.no8.2023.pg130.153","url":null,"abstract":"This study examined the effect of board size on the value of quoted manufacturing firms in Nigeria. The purpose is to examine the relationship between board size and value. Panel data was sourced from financial statement of the quoted firms from 2011 to 2020. Market value and equity value were modeled as a function of board size, board composition, board independence and board gender diversity. Panel data Ordinary least square method was used as data analysis technique. The study found that 53 percent variation in market value of the quoted firms can be explained by variation in the board characteristics. The results indicated that board independence and board composition have positive but no significant effect on the market value of the quoted manufacturing firms while the results indicates that board size and board gender diversity have negative and no significant effect on market value of quoted manufacturing firms in Nigeria. 31 percent variation in equity value of the quoted firms can be explained by variation in the board characteristics. The results indicate that board independence and board composition have positive but no significant effect on the equity value of the quoted manufacturing firms while the results indicates that board size and board gender diversity have negative and no significant effect on equity value of quoted manufacturing firms in Nigeria. From the findings, the study concludes that board characteristics have greater impact on market value than equity value. It recommends that board diversity components of Nigeria food and beverage firms which include gender diversity, board size, board independence, and board-director duality need to be strengthened to positively affect value of the firms and the need for managers to ensure that the size of the board is also congruent to organizational needs, such that the board size, competencies, skills and ability advance organizational quest for increase value of the firms","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135253142","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 : 2023-10-07DOI: 10.56201/jafm.v9.no8.2023.pg113.129
IME Isaiah Udoh, JONAH Ngbomowa Moses, CHINDA Godstime Nyema
This study examined the effect of government revenue on government expenditure in Nigeria. The study used a retrospective research design and data was obtained from a statistical bulletin from the OECD, CBN, IFRS and National Bureau of Statistics for the period 1981 to 2020. Descriptive statistics, correlation and multiple regression analysis were used to analyze the data based on SPSS 20.0 and the Advanced Excel Analytical Toolkit 2018 package. The result revealed a positive and statistically significant relationship between corporate income tax (CIT) and Government Capital Expenditure (GCE). The relationship between Value Added Tax (VAT) and Government Capital Expenditure (GCE) is also positive and statistically significant. Furthermore, CIT and VAT have been shown to have a positive and statistically significant relationship with government recurrent expenditure (GRE), respectively. Thus, the study reveals a significant relationship between government revenue and government expenditure in Nigeria. Among other things, we recommend that the government increase the number of goods on which Nigeria is subject to VAT to expand net VAT revenue as well as the collection of other indirect taxes to improve all public spending on Nigeria's economic growth - in line with Keynesian theory of expenditure and economic growth. Furthermore, in order to increase revenue for the CIT, according to Adolf Wagner's law of increasing public spending, the government must use tax money to create a favorable economic environment that stimulates high levels of industrial activity, thereby greatly affecting corporate performance and profits.
{"title":"The Nexus Between Public Revenue and Government Expenditure in Nigeria","authors":"IME Isaiah Udoh, JONAH Ngbomowa Moses, CHINDA Godstime Nyema","doi":"10.56201/jafm.v9.no8.2023.pg113.129","DOIUrl":"https://doi.org/10.56201/jafm.v9.no8.2023.pg113.129","url":null,"abstract":"This study examined the effect of government revenue on government expenditure in Nigeria. The study used a retrospective research design and data was obtained from a statistical bulletin from the OECD, CBN, IFRS and National Bureau of Statistics for the period 1981 to 2020. Descriptive statistics, correlation and multiple regression analysis were used to analyze the data based on SPSS 20.0 and the Advanced Excel Analytical Toolkit 2018 package. The result revealed a positive and statistically significant relationship between corporate income tax (CIT) and Government Capital Expenditure (GCE). The relationship between Value Added Tax (VAT) and Government Capital Expenditure (GCE) is also positive and statistically significant. Furthermore, CIT and VAT have been shown to have a positive and statistically significant relationship with government recurrent expenditure (GRE), respectively. Thus, the study reveals a significant relationship between government revenue and government expenditure in Nigeria. Among other things, we recommend that the government increase the number of goods on which Nigeria is subject to VAT to expand net VAT revenue as well as the collection of other indirect taxes to improve all public spending on Nigeria's economic growth - in line with Keynesian theory of expenditure and economic growth. Furthermore, in order to increase revenue for the CIT, according to Adolf Wagner's law of increasing public spending, the government must use tax money to create a favorable economic environment that stimulates high levels of industrial activity, thereby greatly affecting corporate performance and profits.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135253635","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 : 2023-10-07DOI: 10.56201/jafm.v9.no8.2023.pg59.80
David Sunday, Chinyere Joan anafa, Christian Ogochukwu Nduokafor
The objective of this study is to ascertain the nexus between dividend payment and earnings quality of quoted manufacturing firms in Nigeria. The study adopted the ex-post facto research design. It covered a period of ten years spanning from 2012 to 2021. The population of the study was44 quoted manufacturing firms out which 32 were selected as sample size using purposive sampling techniques. The data were collected from financial statement of the selected firms listed on the Nigeria Exchange Group as at 31 st December, 2021. The data were analyzed using Ordinary Least Square and operated by E-Views 11. The results showed that there is a significant and positive relationship between dividend-paying status and earning quality, there is a significant and negative relationship between dividend size and earning quality, there is a significant and positive relationship between dividend changes and earning quality, and there is a significant and negative relationship between dividend persistence and earning quality. This study concluded that there is nexus between dividend payment and earnings quality of listed manufacturing companies in Nigeria. It was recommended that, managers should maintain an increase in the value of the (cash) dividends paid divided by the net income of the year. Shareholders should watchfully evaluate the size of dividend payments: This is because managers paying bogus dividends may mask unhealthy firm performance. Managers should adopt a fluctuating rather than static dividend policy for its positive signaling effect on earnings quality. Investors should prioritize a high dividend payout since dividends offer assurance regarding the company's financial stability. The shareholders and policy regulators should be watchful of companies consistently declaring profits even in unstable times.
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