Department of Accounting
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Item EXECUTIVE COMPENSATION AND FINANCIAL PERFORMANCE OF LISTED BANKS IN NIGERIA: MODERATING ROLE OF HUMAN CAPITAL(Journal of Law and Sustainable Development, 2024-02-02) Haleemah Yetunde Zik-Rullahi; Lucky Otsoge Onmonya; Uthman Ahmad Bukola; Ebire KolawoleObjective: The study is on the role of human capital on the relationship between executive compensation and financial performance of banks in Nigeria from 2008 to 2022. The work studies the moderating role of human capital on the relationship between executive compensation and financial performance of listed banks in Nigeria. Method: In establishing the relationship, correlational research design was employed. The research encompasses listed banks in Nigerian for the period of study. Utilizing secondary data from annual reports and accounts, a panel regression was employed to test the hypotheses. The study was supported by pay-performance theory on the financial performance measure as NIM. Results: The findings reveal that highest paid director have a negative and significant relationship with financial performance of banks in Nigeria. In the same vein, the study establishes a positive relationship between total compensation and financial performance. However, human capital moderates the relationship between total compensation and financial performance of banks in Nigeria negatively. Conclusion: The study's findings yield recommendations for enhancing financial performance of Nigerian banks. There is need for control on executive compensation of banks as these are vital to the financial performance of banks in Nigeria.Item Audit Committee Financial Expertise: Antidote for Financial Reporting Quality in Nigeria?(MCSER Publishing, Rome-Italy, 2015-02-02) Ojeka Stephen; Francis Odianonsen Iyoha; Taiwo AsaoluAudit committee financial expertise is vital to the quality of financial reporting. This study empirically investigates the impact of audit committee financial expertise on the quality of financial reporting. The financial reporting quality was measured by reliability (total accrual quality) and relevance (audit report lag). Fifteen money deposit banks were selected and data was collected for the period (2003-2012). Analyses were carried out using Correlation, Ordinary Least Square and Panel Lest Square. The study found, after controlling for firm size, audit type, age of firm, audit committee meeting and audit committee size, that, audit committee financial expertise showed a negative coefficient for total accrual quality and audit report lag. This means financial expertise has a positive significant impact on financial reporting quality in Nigeria. The study, therefore, recommends that more attention should be given to the financial expertise of directors being recommended to the audit committee.Item Factors That Affect Tax Compliance among Small and Medium Enterprises (SMEs) in North Central Nigeria(Canadian Center of Science and Education, 2012-02-02) Ojochogwu Winnie Atawodi; Ojeka StephenTax is an important stream of revenue for government’s development projects. However, tax compliance among SMEs is poor. Therefore, this study was conducted using SMEs in Zaria, North-Central Nigeria to evaluate and rank the factors that encourage non-compliance with tax obligation by SMEs. It was found that high tax rates and complex filing procedures are the most crucial factors causing non-compliance of SMEs. Other factors like multiple taxation and lack of proper enlightenment affect tax compliance among the SMEs surveyed only to a lesser extent. Therefore, it is recommended that SMEs should be levied lower percentage of taxes to allow enough funds for business development and better chances of survival in a competitive market. The government should also consider increasing tax incentives such as exemptions and tax holidays as these will not only encourage voluntary compliance but also attract investors who are potential viable tax payers in the future.Item Relationship between Tax Policy, Growth of SMEs and the Nigerian Economy(Canadian Center of Science and Education, 2012-02-02) Ojochogwu Winnie Atawodi; Ojeka StephenThis research work tries to establish if any relationship exists between the growth of SMEs and the tax policy environment within which they operate. Using business sustenance and expansion as indices of growth, it analyzes responses obtained questionnaires distributed to SMEs in Zaria, North Central Nigeria. Sampling for the survey was done using the non-probability sampling method specifically by judgmental sampling. The hypothesis was tested using Spearman’s Rank Correlation. Although there is a general perception that that tax is an important source of fund for development of the economy and provision of social services, the study revealed a significant negative relationship between taxes and the business’ ability to sustain itself and to expand. In order to obtain a vibrant and flourishing SME sector, the tax policy needs to be appropriate such that it will not be an encumbrance to the growth of small and medium enterprises.Item Effect of Non-Current Assets on The Financial Performance of Manufacturing Firms in Nigeria(Human Resource Management Academic Research Society (HRMARS), 2023-02-02) Enekwe, Chinedu Innocent; Ayogu, Sunday Eze,; Danjuma Bolaji AdelekeThe study examined the effect of non-current assets on the financial performance of manufacturing firms in Nigeria. The independent variable is non-current assets, proxied by the log of non-current assets, with two control variables (firm size and leverage), while the dependent variable is financial performance, proxied by return on assets (ROA). The ex-post facto research design made use of secondary data drawn from the annual reports and accounts of four (4) companies in the listed consumer goods sector of the Nigerian economy, covering a period of ten (10) years from 2010 to 2019, both years inclusive. The theories of this study were anchored in dynamic theory and organic theory. The E-Views version 9.0 software statistical package was used to run the panel ordinary least squares (OLS) for the study. The multiple regression model was applied to determine the extent of the effect of the independent variable (non-current assets) on the dependent variable (financial performance) of the companies under investigation. The regression result revealed that non-current assets (NCA) have a positive but insignificant effect on the return on assets (ROA) of listed consumer goods companies in Nigeria. Based on the findings, the researchers recommended that management ensure that the amount spent on acquiring non-current assets for the company is monitored and controlled in order to increase their financial performance (profit). Also, the government regulatory body for companies (CAMA) should make sure that only a small part of the profit generated will be used in the acquisition of property, plant, and equipment (PP & E) for the company.Item Corporate governance attributes and financial performance of listed consumer goods companies in Nigeria(International Journal of Financial Management and Economics, 2022-02-02) Sani Abdul Rahman Bala; Muhammad Yunusa Salisu; Mohammed Auwal BabangidaThis study examined the influence of Corporate Governance Attributes (CGA) on the Financial Performance (FP) of listed Consumer Goods Companies (CGCs) in Nigeria. The objectives were to provide empirical evidence of the influence of Corporate Governance Attributes, proxied by Board Size (BS), Board Independence (BI), and Gender Diversity (GD) on the Dependent variable, Financial Performance (FP), proxied by Return on Assets (ROA), which is widely accepted to show the actual result of profitability in many firms. The study employed a longitudinal research design. A sample of five (5) companies was randomly selected from the population of thirty-five (35) listed CGCs in Nigeria as of 2020. Data was collected from the audited annual accounts and reports of the sampled firms. The study further employed multiple regression techniques to explain and test the data elicited. The statistical result for the variables shows weak FP among the sampled firms, implying that the selected firms reported a low return on assets during the period under consideration. Specifically, BI exerts a significant influence, while GD exerts a negative significant influence on ROA. However, BS reveals a negative and insignificant influence on the ROA of the CGCs in Nigeria. Deducing from the statistics, it can be observed that CEOs of CGCs in Nigeria are carefree with corporate attributes. There is a need for the CEOs and equity owners of the companies to review the fundamental demographic features of the CGCs to improve the quality of decision-making. Specifically, including the number of female directors in their board membership.Item CORPORATE LIQUIDITY AND PERFORMANCE OF LISTED INSURANCE COMPANIES IN NIGERIA(Department of Accounting, Umaru Musa Yaradua University, Katsina, 2022-02-02) Sani AbdulRahman Bala; Muhammad Yunusa Salisu; Idris SaniThis paper determined the influence of firms’ liquidity on the financial performance of quoted insurance companies in Nigeria. The study employed a descriptive research design. The population of the study consisted of twenty (20) insurance firms listed on the floor of the Nigerian Stock Exchange as of 30th September 2021 covering the periods of 2014 to 2019. The sample size of the study is made up of seven (7) insurance and assurance companies in Nigeria. A simple random sampling technique was employed in selecting the sample size of the study. The study used GLS random-effects regression method to analyze the data of the study. The outcome of the study revealed that the capital adequacy ratio is the major factor that influences the financial performance of quoted insurance firms in Nigeria. The study finally recommended that management of quoted insurance firms in Nigeria should offer their shares to the general public for subscription, this will, in turn, increase their capital/ income, and the outcome would be an investment in viable assets and this will enhance the financial performance in the long run.Item An Empirical Investigation into the relationship between Capital Structure and Firm`s Market Value in Nigeria(Journal of Accounting, Finance and Development, 2019-02-02) Okoye, Peter Anija; Ayogu SundayFollowing the Modigliani and Miller theory (1963), there have been considerable debates on the nature of relationship that exists between a company`s capital structure and its market value. This study seeks to empirically investigate the relationship between corporate capital structure and a firm`s market value in Nigeria.. Dataset from selected companies listed on the Nigerian Stock Exchange for the period of 2013- 2017 were used for analysis. Results from the analysis show a positively significant relationship between a firm`s capital structure and its market value.. Hence, the study recommends that listed companies in Nigeria should optimize their capital structure in order to maximize their market value for the benefit of all the stakeholders.Item Effects Of Audit Committee Characteristics On The Financial Performance Of Listed Industrial Goods Firms In Nigeria(African Journal of Accounting and Financial Research, 2025-02-02) John Adamu; Ugwudioha OfiliThis study examined the effect of audit committee characteristics (proxy as audit committee size, audit committee composition, audit committee meetings, audit committee frequency of meeting, audit committee financial expertise, and audit committee gender diversity) on the financial performance (ROA) of listed industrial goods firms in Nigeria from 2013 to 2023. The data were analysed using panel regression analysis. Findings revealed that audit committee size has a significant positive effect on ROA of listed industrial firms in Nigeria, while audit committee independence has a significant positive effect on ROA of listed industrial firms in Nigeria. Audit committee meetings have an insignificant effect on ROA of listed industrial firms in Nigeria. The study found that audit committee financial expertise significantly affects financial performance while board gender diversity negatively affects financial performance. Based on the findings, the study recommends that firms within the industrial goods sector should consider optimizing their audit committee size as part of their strategic initiatives to achieve superior financial performance and long-term success.Item An Empirical Investigation Of The Impact Of Artificial Intelligence On Accounting Practice In Nigeria(African Journal of Accounting and Financial Research, 2023-02-02) Ugo Celina