Surviving the transitional period of job loss before finding a new job poses significant challenges for individuals. Therefore, this study aimed to investigate how the administration of contributory pension schemes affects transitory job loss in Nigeria. Employing an exploratory research design, this conceptual paper reviews existing literature to assess the extent of research on contributory pension schemes and transitory job loss. The study's findings revealed that individuals who lose their jobs encounter difficulties in accessing 25% of their pension contributions. These challenges arise from complex administrative procedures, non-remittance of contributions by employers, and a lack of awareness about the option to access a portion of their contributions in the Retirement Savings Account (RSA) in case of job loss. Moreover, this research indicated that contributors who experienced job loss, particularly during the COVID-19 pandemic, lacked a savings and investment culture, leading to financial hardship during the waiting period to access a part of their RSA contributions. It was concluded that contributors who undergo transitory job loss in Nigeria encounter obstacles in accessing their pension contributions. The study recommends that efforts should be made to simplify the administrative processes involved in accessing pension contributions to ensure a smoother withdrawal experience for contributors facing job loss.
{"title":"Contributory Pension Scheme and Transitory Job Loss in Nigeria","authors":"ASUBIOJO Abayomi Olusesan, IGBEKOYI Olusola Esther, DAGUNDURO Muyiwa Emmanuel","doi":"10.56201/jafm.v9.no8.2023.pg35.45","DOIUrl":"https://doi.org/10.56201/jafm.v9.no8.2023.pg35.45","url":null,"abstract":"Surviving the transitional period of job loss before finding a new job poses significant challenges for individuals. Therefore, this study aimed to investigate how the administration of contributory pension schemes affects transitory job loss in Nigeria. Employing an exploratory research design, this conceptual paper reviews existing literature to assess the extent of research on contributory pension schemes and transitory job loss. The study's findings revealed that individuals who lose their jobs encounter difficulties in accessing 25% of their pension contributions. These challenges arise from complex administrative procedures, non-remittance of contributions by employers, and a lack of awareness about the option to access a portion of their contributions in the Retirement Savings Account (RSA) in case of job loss. Moreover, this research indicated that contributors who experienced job loss, particularly during the COVID-19 pandemic, lacked a savings and investment culture, leading to financial hardship during the waiting period to access a part of their RSA contributions. It was concluded that contributors who undergo transitory job loss in Nigeria encounter obstacles in accessing their pension contributions. The study recommends that efforts should be made to simplify the administrative processes involved in accessing pension contributions to ensure a smoother withdrawal experience for contributors facing job loss.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135253321","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.pg81.96
U. Egbadju Lawrence
This study investigates the impact which cash management and the financial performance of selected firms in Nigeria. The period which the study covers is from 2005 to 2020 of 76 non- financial firms quoted on the floor of the Nigerian Exchange Group the information about them are extracted from their financial statements. The results of the dynamic robust least squares indicated that while cash and cash equivalence (CCE), average collection period (ACP), days sales outstanding (DSO), days inventory outstanding (DIO) and sales growth (GSALES) are positively significant with economic value added (EVA); cash conversion cycle (CCC), average payment period (APP), days payment outstanding (DPO), quick ratio (QR), short term debt (STD) and capital expenditures (CAPEX) are negatively significant with it. The study concludes with some recommendations.
{"title":"Cash Management and Financial Performance of Quoted Non- Financial Firms in Nigeria: A Dynamic Robust Least Squares Regression Approach","authors":"U. Egbadju Lawrence","doi":"10.56201/jafm.v9.no8.2023.pg81.96","DOIUrl":"https://doi.org/10.56201/jafm.v9.no8.2023.pg81.96","url":null,"abstract":"This study investigates the impact which cash management and the financial performance of selected firms in Nigeria. The period which the study covers is from 2005 to 2020 of 76 non- financial firms quoted on the floor of the Nigerian Exchange Group the information about them are extracted from their financial statements. The results of the dynamic robust least squares indicated that while cash and cash equivalence (CCE), average collection period (ACP), days sales outstanding (DSO), days inventory outstanding (DIO) and sales growth (GSALES) are positively significant with economic value added (EVA); cash conversion cycle (CCC), average payment period (APP), days payment outstanding (DPO), quick ratio (QR), short term debt (STD) and capital expenditures (CAPEX) are negatively significant with it. The study concludes with some recommendations.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135253137","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.pg59.72
Ahmed Abubakar Zik-Rullahi, Ibikunle Jide
In the evolving landscape of corporate sustainability, green accounting emerges as a pivotal framework that underpins effective and comprehensive sustainability reporting. This study encapsulates an exploration into the significance, challenges, and benefits of green accounting as a fundamental pillar of corporate sustainability reporting. The Objective of the study was to delved into the essence of green accounting within the context of corporate sustainability reporting, unravelling its role in quantifying and communicating the environmental impact of business operations. The study adopted exploratory research design, by employed a secondary data approach, specifically employing content analysis, to address the paucity of empirical research on the application of environmental accounting and reporting. The findings revealed the moderate integration of green accounting and sustainability reporting was observed across diverse industries. Reporting frameworks such as GRI and TCFD were commonly adopted, indicating a push for standardized reporting. Diverse Key Performance Indicators (KPIs) were utilized, reflecting the multifaceted nature of sustainability. Stakeholder engagement emerged as a critical factor in ensuring accurate and relevant reporting. Recommendations there should be more emphasis on data integrity, a robust stakeholder engagement, customization of frameworks, valuation solutions to develop reliable methods for valuing environmental assets and liabilities, technological adoption, advocacy for regulation, collaborative approach: foster collaboration among industries, academia, NGOs, and Governments to share best practices and accelerate progress. Future research Investor Decision-making, investigate how the quality and comprehensiveness of sustainability reporting influence investor decisions and perceptions. Impact Assessment. Examine the tangible impact of sustainability reporting on driving eco-friendly business practices and red
{"title":"Green Accounting: A Fundamental Pillar of Corporate Sustainability Reporting","authors":"Ahmed Abubakar Zik-Rullahi, Ibikunle Jide","doi":"10.56201/jafm.v9.no8.2023.pg59.72","DOIUrl":"https://doi.org/10.56201/jafm.v9.no8.2023.pg59.72","url":null,"abstract":"In the evolving landscape of corporate sustainability, green accounting emerges as a pivotal framework that underpins effective and comprehensive sustainability reporting. This study encapsulates an exploration into the significance, challenges, and benefits of green accounting as a fundamental pillar of corporate sustainability reporting. The Objective of the study was to delved into the essence of green accounting within the context of corporate sustainability reporting, unravelling its role in quantifying and communicating the environmental impact of business operations. The study adopted exploratory research design, by employed a secondary data approach, specifically employing content analysis, to address the paucity of empirical research on the application of environmental accounting and reporting. The findings revealed the moderate integration of green accounting and sustainability reporting was observed across diverse industries. Reporting frameworks such as GRI and TCFD were commonly adopted, indicating a push for standardized reporting. Diverse Key Performance Indicators (KPIs) were utilized, reflecting the multifaceted nature of sustainability. Stakeholder engagement emerged as a critical factor in ensuring accurate and relevant reporting. Recommendations there should be more emphasis on data integrity, a robust stakeholder engagement, customization of frameworks, valuation solutions to develop reliable methods for valuing environmental assets and liabilities, technological adoption, advocacy for regulation, collaborative approach: foster collaboration among industries, academia, NGOs, and Governments to share best practices and accelerate progress. Future research Investor Decision-making, investigate how the quality and comprehensiveness of sustainability reporting influence investor decisions and perceptions. Impact Assessment. Examine the tangible impact of sustainability reporting on driving eco-friendly business practices and red","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":"8 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135253372","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 : 2023-09-14DOI: 10.56201/jafm.v9.no1.2023.pg23.28
Marshal IWEDI, Princewill Ihenacho WACHUKU, Eunice Ralph COURT
This paper theoretically examines the effect of Naira redesign on economic growth in Nigeria. The objective of the study is to determine the economic implications of Naira redesign, reasons for redesigning Naira and the proposed relevance of Naira redesign policy of the Central Bank of Nigeria. The study discovered that the key rationale for currency redesign were to reduce the level of hoarding of money by affluent Nigerians, to mitigate counterfeiting of the currency and to control the amount of money in circulation with the view of controlling the rate of inflation in Nigeria. The study also discovered that there are both positive and negative sides to Naira redesign which includes the fact that Naira redesign could lead to reduction in the level of cash insecurity and money laundering, huge deficit cost to the economy, a rise in price level and the mitigation of counterfeiting in the economy. The study suggests that the redesign of Naira may not be the antidote to the consistent depreciation of the country’s currency and the focus of the Central Bank of Nigeria should be the stabilization of Naira. The study concludes that Naira redesign is not the best thing to be done currently in the economy as it could lead to more challenges and so the Government of Nigeria should attend to more pressing issues.
{"title":"Naira Redesign and Economic Growth in Nigeria: Prospects and Challenges","authors":"Marshal IWEDI, Princewill Ihenacho WACHUKU, Eunice Ralph COURT","doi":"10.56201/jafm.v9.no1.2023.pg23.28","DOIUrl":"https://doi.org/10.56201/jafm.v9.no1.2023.pg23.28","url":null,"abstract":"This paper theoretically examines the effect of Naira redesign on economic growth in Nigeria. The objective of the study is to determine the economic implications of Naira redesign, reasons for redesigning Naira and the proposed relevance of Naira redesign policy of the Central Bank of Nigeria. The study discovered that the key rationale for currency redesign were to reduce the level of hoarding of money by affluent Nigerians, to mitigate counterfeiting of the currency and to control the amount of money in circulation with the view of controlling the rate of inflation in Nigeria. The study also discovered that there are both positive and negative sides to Naira redesign which includes the fact that Naira redesign could lead to reduction in the level of cash insecurity and money laundering, huge deficit cost to the economy, a rise in price level and the mitigation of counterfeiting in the economy. The study suggests that the redesign of Naira may not be the antidote to the consistent depreciation of the country’s currency and the focus of the Central Bank of Nigeria should be the stabilization of Naira. The study concludes that Naira redesign is not the best thing to be done currently in the economy as it could lead to more challenges and so the Government of Nigeria should attend to more pressing issues.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":"49 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134912939","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 : 2023-09-14DOI: 10.56201/jafm.v9.no1.2023.pg1.15
Godspower Anthony Ekpulu, Frank Bingilar
The environmental damages firms’ activities have caused, has aroused the need for firms to be very sensitive to their operations. The 2011–2020 research examines firm-specific features and corporate environmental disclosure for listed environmentally sensitive firms in Nigeria. Age, size, leverage, and management ownership are the explanatory variables. Environmental disclosure explains the GRI environmental disclosure index. The research assessed corporate involvement in environmental disclosure using double hurdle regression. The population and sample are all 23 Oil & Gas and Industrial Goods firms. The research found that firm size and financial leverage influence disclosure choice and extent of disclosure. Firm age does not affect disclosure choice or intensity. The study proposes that Nigerian corporations should give detail disclosure of environmental information. It should be a listing requirement for companies. This promotes green accounting. As captains of industries, managers should push environmental policies that improve their environmental performance to better align the organisation and its stakeholders.
{"title":"Environmentally Sensitive Industries Attributes and Environmental Disclosure in Nigeria: Modelling the Double Hurdle Technique","authors":"Godspower Anthony Ekpulu, Frank Bingilar","doi":"10.56201/jafm.v9.no1.2023.pg1.15","DOIUrl":"https://doi.org/10.56201/jafm.v9.no1.2023.pg1.15","url":null,"abstract":"The environmental damages firms’ activities have caused, has aroused the need for firms to be very sensitive to their operations. The 2011–2020 research examines firm-specific features and corporate environmental disclosure for listed environmentally sensitive firms in Nigeria. Age, size, leverage, and management ownership are the explanatory variables. Environmental disclosure explains the GRI environmental disclosure index. The research assessed corporate involvement in environmental disclosure using double hurdle regression. The population and sample are all 23 Oil & Gas and Industrial Goods firms. The research found that firm size and financial leverage influence disclosure choice and extent of disclosure. Firm age does not affect disclosure choice or intensity. The study proposes that Nigerian corporations should give detail disclosure of environmental information. It should be a listing requirement for companies. This promotes green accounting. As captains of industries, managers should push environmental policies that improve their environmental performance to better align the organisation and its stakeholders.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":"21 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134912944","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 : 2023-09-14DOI: 10.56201/jafm.v9.no1.2023.pg16.22
Etim Osim Etim, John Dominic Ekpoese, Oleum Fidelis Akporien, Dorathy Christopher Akpan
Firm’s characteristics have not been a new spectacle in the business world. They have, of course, always been with us and no decent business entity entirely overlooks them. What is new is the preference of their ranking in different corporate agenda. Fascinatingly, this paper is an analytical examination of the influence of the firm’s characteristics on Asset Growth of Quoted companies in Nigeria: An Analytical Review. The central aim was to investigate how the profitability, leverage and revenue growth influence asset growth of the quoted companies on the Nigerian Stock Exchange. Whilst the firm’s characteristics were measured by profitability, leverage and revenue growth and asset growth was measured by the difference between prior year and current year of non-current asset. This study focused on Ex post facto sourcing of data from the annual financial reports of the relevant companies from 2008 to 2019 fiscal years. Besides, the generated data were analyzed using the descriptive and inferential statistics while the regression analysis model was adopted for estimating the test result. However, findings revealed an insignificant influence of firm characteristics (profitability, leverage and revenue growth) on asset growth quoted companies in Nigeria. The result, therefore, showed that firm’s characteristics insignificantly contribute to the asset growth of companies. It was recommended among others that companies should carefully monitor all elements that indicate assets growth and not merely focus on firm characteristics alone, since it does not completely isolate firms from the threats of asset growth issues. Nonetheless, Companies should compose their boards based on technical know-how, experience, and qualification rather than on gender categorization.
{"title":"Firms’ Characteristics and Asset Growth of Quoted Companies in Nigeria: An Analytical Approach","authors":"Etim Osim Etim, John Dominic Ekpoese, Oleum Fidelis Akporien, Dorathy Christopher Akpan","doi":"10.56201/jafm.v9.no1.2023.pg16.22","DOIUrl":"https://doi.org/10.56201/jafm.v9.no1.2023.pg16.22","url":null,"abstract":"Firm’s characteristics have not been a new spectacle in the business world. They have, of course, always been with us and no decent business entity entirely overlooks them. What is new is the preference of their ranking in different corporate agenda. Fascinatingly, this paper is an analytical examination of the influence of the firm’s characteristics on Asset Growth of Quoted companies in Nigeria: An Analytical Review. The central aim was to investigate how the profitability, leverage and revenue growth influence asset growth of the quoted companies on the Nigerian Stock Exchange. Whilst the firm’s characteristics were measured by profitability, leverage and revenue growth and asset growth was measured by the difference between prior year and current year of non-current asset. This study focused on Ex post facto sourcing of data from the annual financial reports of the relevant companies from 2008 to 2019 fiscal years. Besides, the generated data were analyzed using the descriptive and inferential statistics while the regression analysis model was adopted for estimating the test result. However, findings revealed an insignificant influence of firm characteristics (profitability, leverage and revenue growth) on asset growth quoted companies in Nigeria. The result, therefore, showed that firm’s characteristics insignificantly contribute to the asset growth of companies. It was recommended among others that companies should carefully monitor all elements that indicate assets growth and not merely focus on firm characteristics alone, since it does not completely isolate firms from the threats of asset growth issues. Nonetheless, Companies should compose their boards based on technical know-how, experience, and qualification rather than on gender categorization.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134912779","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 : 2023-09-13DOI: 10.56201/jafm.v9.no5.2023.pg120.135
Joel Ihenyen Confidence, Roseline Igoniderigha
Between 2015 and 2021, the research project examined the effect of liquidity on firm value across a few Nigerian consumer goods industries. business value served as the independent variable with dimensions of liquidity ratio, acid test ratio, and stock multiplier ratio, whilst business value served as the explanatory variable and was proxied by market share price. The goal was to determine if the explanatory and dependent variables have a meaningful connection. The study's methodology was ex-post-facto research design. Twenty-six consumer products businesses listed on the Nigerian Exchange Group make up the population, and five of those companies were chosen as the study's sample. The investigation used a secondary source to gather data. The audited financial statements of the chosen companies between 2015 and 2021 were used to collect data for both the dependent and independent variables. The statistical method for multiple regression was used to examine the given data. The results of the investigation's studies have unmistakably demonstrated that in Nigerian consumer goods businesses, there is a weak link between stock multiplier ratio and market share price and a strong relationship between firm liquidity ratio, acid test ratio, and market share price. Therefore, the study draws the following conclusions: consumer goods companies should maintain a reasonable level of liquidity in order to encourage demand and supply in the stock market; the acid level of the companies should be frequently checked by stakeholders to detect any potential problems; and stock multiplier ratio has immaterial influence on firm market share price in the studied organizations in the country. Because doing so helps investors understand the company's worth. In other words, the P/E ratio depicts market expectations as well as the price that must be paid per unit of either current or future profits, depending on the situation.
{"title":"Liquidity and Firm Value","authors":"Joel Ihenyen Confidence, Roseline Igoniderigha","doi":"10.56201/jafm.v9.no5.2023.pg120.135","DOIUrl":"https://doi.org/10.56201/jafm.v9.no5.2023.pg120.135","url":null,"abstract":"Between 2015 and 2021, the research project examined the effect of liquidity on firm value across a few Nigerian consumer goods industries. business value served as the independent variable with dimensions of liquidity ratio, acid test ratio, and stock multiplier ratio, whilst business value served as the explanatory variable and was proxied by market share price. The goal was to determine if the explanatory and dependent variables have a meaningful connection. The study's methodology was ex-post-facto research design. Twenty-six consumer products businesses listed on the Nigerian Exchange Group make up the population, and five of those companies were chosen as the study's sample. The investigation used a secondary source to gather data. The audited financial statements of the chosen companies between 2015 and 2021 were used to collect data for both the dependent and independent variables. The statistical method for multiple regression was used to examine the given data. The results of the investigation's studies have unmistakably demonstrated that in Nigerian consumer goods businesses, there is a weak link between stock multiplier ratio and market share price and a strong relationship between firm liquidity ratio, acid test ratio, and market share price. Therefore, the study draws the following conclusions: consumer goods companies should maintain a reasonable level of liquidity in order to encourage demand and supply in the stock market; the acid level of the companies should be frequently checked by stakeholders to detect any potential problems; and stock multiplier ratio has immaterial influence on firm market share price in the studied organizations in the country. Because doing so helps investors understand the company's worth. In other words, the P/E ratio depicts market expectations as well as the price that must be paid per unit of either current or future profits, depending on the situation.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":"33 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135740010","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 : 2023-09-13DOI: 10.56201/jafm.v9.no5.2023.pg18.45
Ngbomowa Moses JONAH
Corporate governance is the system by which the affairs of the companies are directed and controlled by those charged with the responsibility. The purpose of this study is to investigate the relationship between corporate governance attributes and the financial performance of listed industrial goods companies in Nigeria. The methodology adopted in this study was an ex -post facto research design. Secondary data from eleven (11) listed industrial goods companies in Nigeria for the period of eleven (11) years (2009-2019) was obtained based on the convenience sampling method. The statistical tools used were multiple regression analysis and Pearson’s product-moment correlation aided by the statistical package for social science (SPSS) version 22. The finding showed that corporate governance had a significant positive relationship with financial performance. Likewise, the board size, board composition and board member competence have a positive relationship with net profit margin. It was concluded that corporate governance attributes influence the financial performance of listed industrial goods companies in Nigeria. It was recommended among others that external auditors should be mandated to issue certificates of compliance with the code of corporate governance for public companies as it is obtainable in some countries like India. Likewise, Appraisal tools for regular monitoring of boards of directors should be developed to help create credibility in corporations in Nigeria. Competent outside directors with requisite experience should be appointed to the board at all times necessary.
{"title":"Corporate Governance Attributes and Financial Performance of Listed Industrial Goods Companies in Nigeria","authors":"Ngbomowa Moses JONAH","doi":"10.56201/jafm.v9.no5.2023.pg18.45","DOIUrl":"https://doi.org/10.56201/jafm.v9.no5.2023.pg18.45","url":null,"abstract":"Corporate governance is the system by which the affairs of the companies are directed and controlled by those charged with the responsibility. The purpose of this study is to investigate the relationship between corporate governance attributes and the financial performance of listed industrial goods companies in Nigeria. The methodology adopted in this study was an ex -post facto research design. Secondary data from eleven (11) listed industrial goods companies in Nigeria for the period of eleven (11) years (2009-2019) was obtained based on the convenience sampling method. The statistical tools used were multiple regression analysis and Pearson’s product-moment correlation aided by the statistical package for social science (SPSS) version 22. The finding showed that corporate governance had a significant positive relationship with financial performance. Likewise, the board size, board composition and board member competence have a positive relationship with net profit margin. It was concluded that corporate governance attributes influence the financial performance of listed industrial goods companies in Nigeria. It was recommended among others that external auditors should be mandated to issue certificates of compliance with the code of corporate governance for public companies as it is obtainable in some countries like India. Likewise, Appraisal tools for regular monitoring of boards of directors should be developed to help create credibility in corporations in Nigeria. Competent outside directors with requisite experience should be appointed to the board at all times necessary.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135740189","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 : 2023-09-13DOI: 10.56201/jafm.v9.no3.2023.pg81.105
Gogo Erasmus Eneisik, Prof. L. C. Obara, Moses Kpane Uwikor
The study empirically investigated the effect of corporate taxes on financial performance of quoted manufacturing companies in Nigeria. The population of the study consists of sixty quoted manufacturing companies in Nigeria. The study adopts purposive sampling techniques to select thirty quoted manufacturing companies as a sample size. Secondary data was obtained from audited annual financial reports of quoted manufacturing companies in Nigeria from 2006-2020. Hypotheses formulated were tested using panel least squares regression through pooled effect, fixed effect, and random effect, determined by the Hausman test, fixed effect regression was preferred for results interpretation with the aid of Eviews 10 econometric statistical software. Findings show that companies’ income tax, capital gains tax, and tertiary education tax had insignificant effects on return on equity of quoted manufacturing companies in Nigeria. Companies’ income tax and tertiary education tax had insignificant effect on return on capital employed of quoted manufacturing companies in Nigeria. Companies income tax and tertiary education tax had insignificant effect on net profit margin of quoted manufacturing companies in Nigeria. Capital gains tax had significant effect on return on capital employed and net profit margin of quoted manufacturing companies in Nigeria. The study concludes that corporate taxes have insignificant effect on financial performance of quoted manufacturing companies in Nigeria. The study recommends, among others, that the government should introduce new tax incentives, tax exemptions, tax allowances, tax relief, tax rebates, and tax shelters for corporate taxes. Capital gains tax should be scrapped to enable companies to plough back profit on sale of assets into their business operations. The government should create a corporate tax management database through modern information technology to ensure effective and efficient corporate tax administration.
{"title":"Corporate Taxes and Financial Performance of Quoted Manufacturing Companies in Nigeria","authors":"Gogo Erasmus Eneisik, Prof. L. C. Obara, Moses Kpane Uwikor","doi":"10.56201/jafm.v9.no3.2023.pg81.105","DOIUrl":"https://doi.org/10.56201/jafm.v9.no3.2023.pg81.105","url":null,"abstract":"The study empirically investigated the effect of corporate taxes on financial performance of quoted manufacturing companies in Nigeria. The population of the study consists of sixty quoted manufacturing companies in Nigeria. The study adopts purposive sampling techniques to select thirty quoted manufacturing companies as a sample size. Secondary data was obtained from audited annual financial reports of quoted manufacturing companies in Nigeria from 2006-2020. Hypotheses formulated were tested using panel least squares regression through pooled effect, fixed effect, and random effect, determined by the Hausman test, fixed effect regression was preferred for results interpretation with the aid of Eviews 10 econometric statistical software. Findings show that companies’ income tax, capital gains tax, and tertiary education tax had insignificant effects on return on equity of quoted manufacturing companies in Nigeria. Companies’ income tax and tertiary education tax had insignificant effect on return on capital employed of quoted manufacturing companies in Nigeria. Companies income tax and tertiary education tax had insignificant effect on net profit margin of quoted manufacturing companies in Nigeria. Capital gains tax had significant effect on return on capital employed and net profit margin of quoted manufacturing companies in Nigeria. The study concludes that corporate taxes have insignificant effect on financial performance of quoted manufacturing companies in Nigeria. The study recommends, among others, that the government should introduce new tax incentives, tax exemptions, tax allowances, tax relief, tax rebates, and tax shelters for corporate taxes. Capital gains tax should be scrapped to enable companies to plough back profit on sale of assets into their business operations. The government should create a corporate tax management database through modern information technology to ensure effective and efficient corporate tax administration.","PeriodicalId":53178,"journal":{"name":"Journal of Public Budgeting, Accounting and Financial Management","volume":"57 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135740680","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 : 2023-09-13DOI: 10.56201/jafm.v9.no3.2023.pg118.128
Samiat O. Afolabi, Josephine Crossdale-Ovwido, Chiedu Augustina, Mordi Kelvin Adim
The study assessed the use of information and communication technology (ICT) facilities in teaching Financial Accounting in Federal Colleges of Education in the South-South geopolitical zone of Nigeria. 2 research questions guided the study and were examined while 2 hypotheses were formulated and tested at 0.05 level of significance. Descriptive survey research design was adopted for the study. The population of this study comprised 239 male and female Financial Accounting lecturers with accounting education background. Simple random sampling technique was used to select 169 representative sample for the study. The instrument for data collection was a structured questionnaire titled “Information and Communication Technology in Teaching Financial Accounting Questionnaire (ICTITFAQ)” validated by two experts. Mean statistic was used to analyze data descriptively while independent sample t-test was used to test the formulated null hypotheses at 0.05 level of significance. The results of the study revealed among others that accounting educators (lecturers) utilize, to large extent, accounting software and telecommunication facilities to teach financial accounting in colleges of education in South-South zone of Nigeria. The results further showed no significant difference in the mean response scores on the extent to which Accounting Educators (lecturers) use computer software facilities, and telecommunication facilities in teaching Financial Accounting between Federal and State Colleges of Education in the South-South Nigeria. However, a significant difference in the mean response scores on the extent to which Accounting Educators use internet in teaching Financial Accounting between Federal and State Colleges of Education in the South-South Nigeria in favour of Federal Colleges of Education. It was recommended that Federal and State governments should intensify efforts to buy relevant software packages for teaching Financial Accounting in Colleges
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