2019 Archive
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Title: AUDIT FIRM CHARACTERISTICS AND AUDIT QUALITY IN NIGERIA.pdf Author: PROF. EMMA, I. OKOYE AND ODION AUGUSTINE Abstract: The chains of well-publicized cases of accounting improprieties in Nigeria and around the world have raised worries about the quality of audited financial statement. This has stirred a number of professional and regulatory organizations to recommend reforms that will improve auditor independence and thereby increase audit quality. This study examines the relationship between audit firm characteristics and audit quality in Nigeria. Data for the study were obtainedfrom the financial statements of 30 non-financial companies listed on the Nigerian Stock Exchange market within the period studied (2013-2017),The three widely used binary regression models (Logit, Probit and Gompit) were used to estimate the model for the study.The study found that auditor’s independence exhibits positive insignificant impact on audit quality across the sampled firms while audit firm size showed positive significant impact on audit quality. Audit committee independence showed negative impact though insignificant using the logit and probit estimation technique. The study recommendsthat auditor’s independence should be enhanced by regulating non audit services that could erode auditor’s independence. Also, audit client should endeavor to patronize audit firms that have the necessary expertise for an audit engagement. Keywords: Audit Quality, Auditor Independence, Audit firm size. View |
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Title: CELEBRITY ENDORSEMENT AND MARKETING SUCCESS OF BOTTLED DRINK COMPANIES IN PORT HARCOURT.pdf Author: NNENANYA DORIS AKUNNE AND TAMBARI JONAH CHARLES Abstract: The study aimed at empirically examining the relationship between celebrity endorsements and marketing success of bottled drink companies in Port Harcourt. Data was collected from customers of 5 bottled drink companies in Port Harcourt and analyzed using spearman’s rank correlation coefficient with the aid of SPSS. Findings show that there was more positive correlation between personality-tie and perceived value. The study concludes that celebrity endorsement has a very high positive relationship with marketing success of bottled drink companies in Port Harcourt. In recommendations, the researcher asserts that Firms that wish for a better performance especially the bottled drink should invest more resources on initiating endorsement deals. Keywords: Celebrity Endorsement, Personality Tie, Marketing Success, Perceived value, Repeat purchase View |
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Title: SERVICE QUALITY AND CONSUMER EXPECTATION OF SELECTED ONLINE STORES IN PORT HARCOURT.pdf Author: D. G. ADEME, PhD. Abstract: The purpose of this study is to empirically investigate how service quality affects consumer expectation in Port Harcourt. Data were collected from a sample of 67 consumers and analyzed using Spearman’s correlation coefficient with the aid of Statistical Package for Social Sciences (SPSS) Version 20. Findings revealed that over 70% of the respondents agree that service quality significantly determines the expectation of consumers towards online stores in Port Harcourt. The paper concludes that service quality has tremendous impact in consumer expectation in online stores. The paper recommends amongst others that, the management of online stores should increase the quality of service delivered as this motivates the consumer and makes them believe in the online store they patronize. Keywords: Service quality, Consumer Expectation, online stores View |
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Title: ICT GADGETS ITS NEGATIVE EFFECT ON PRESENT DAY ACADEMIC ACHIEVEMENT IN NIGERIA TERTIARY INSTITUTIONS.pdf Author: PETERSON NWOKORIE, PhD. Abstract: This study was conducted to investigate the use of ICT gadgets in classroom by students and its negative effect on their academic achievement in tertiary institutions. To do so, the researcher developed three specific objectives, three research questions, and two hypotheses, while observations result compared the researcher adopted the survey research design for the study. The population of the study is 700 students from three (3) departments, out of this, 320 students were served with copies of the questionnaire. The departments were divided into two units, the largest department was observed while the other two were used for comparison. Interviews were also conducted. It was revealed that most students hate lecturers who try to stop them from entering the classroom with their cell phone which sometimes result to conflict and lack of concentration during lectures hence failure in exam. The following were some negative activities listed by students; accessing social websites like Facebook, twitter etc. during class work, playing games, playing music, answering and returning calls and downloading and using copyrighted material. Ii was also found that the use of cell phone in doing the above in classroom adversely affects the academic achievement of student in tertiary institutions. It was therefore recommended that the use of cell phones should be completely banned in educational institutions in Nigeria to allow for concentration and excellent performance by students also teachers/ lecturers should be giving full authority to discipline students who use cell phones in class but they must apply wisdom in doing so. View |
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Title: EFFECTS OF FIRM CHARACTERISTICS ON VOLUNTARY CORPORATE GOVERNANCE DISCLOSURE IN ANNUAL REPORTS BY LISTED COMPANIES IN NIGERIA.pdf Author: KILLIAN OSIKHENA OGIEDU AND AIMIEBENOMON FRANCES ONYON Abstract: This study investigated the relationship between firm characteristics and voluntary corporate governance information disclosure in the annual reports of companies listed in the Nigerian Stock Exchange. The specific objectives were to examine influence of firm size, firm performance, leverage, growth opportunity and industry type on voluntary corporate governance disclosure. The study is a longitudinal study covering a time- period of three years (2013-2015). All the 186 companies quoted on the Nigerian Stock Exchange constituted the population out of which 65 companies were randomly selected. Historical data were obtained from the Annual Reports of the sampled firms. The fixed effect panel least square regression was used to analyze the data using E-views 7.0. The study finds that firm size, growth opportunity and industry type have significant and positive relationship with voluntary corporate governance disclosure. On the other hand, leverage and firm performance were statistically insignificant but have negative and positive relationship respectively with voluntary corporate governance disclosure. The study recommends that firms quoted on the Nigeria Stock Exchange whether large or small size should voluntarily disclose corporate governance issues, and that the type of industry a firm belongs to should not affect the level of corporate governance disclosure: all firms should fully disclose corporate governance issues in the interest of stakeholders. The study also recommends that regulatory authorities should consider increasing the number of corporate governance items in the mandatory disclosure regime or universe to enhance overall corporate governance disclosure quality. Keywords: Corporate Governance Disclosure, Firm size, Leverage and Industry Type, Financial Performance, Growth Opportunity. View |
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Title: GENDER ISSUE MOTIVATING ENTREPRENEURIAL VENTURE IN ABEOKUTA NIGERIA.pdf Author: SAMUEL TAIWO AKINYELE AND ESTHER FEYISAYO AKINYELE Abstract: Women in different nations play equal roles with their men counterparts in economic development through entrepreneurship. The contribution of women to the development of any nation through entrepreneurial activities cannot be overemphasized. A sample of 197 respondents was derived from the population of 390 women entrepreneurs in Abeokuta South Local Government of Ogun State using simple random sampling techniques. One hundred and fifty-two (152) questionnaires were filled and returned. The data was analyzed using descriptive and inferential statistics such as regression analysis to test the hypothesis. The results showed that there was a close relationship between market share and business profitability at R =0.104, p-value< 0.01. Also hypothesis two tested showed that human resource has a positive significant relationship on sales revenue as P value (0.000) is less than 0.05. Thus, the null hypothesis was rejected and the alternative was accepted. The study concluded that if gender issues are properly taken care of, women will be motivated to go into any line of business or trade. Unemployed women entrepreneurs should be financed and encouraged to occupy areas like agriculture, services and mining. Furthermore, the study also recommended that women entrepreneurs should be encouraged to be involved in creative work and government should ensure the provision and formulation of an economic policy that will favor the business environment. Keywords: Business Environment, Development, Entrepreneurs, Government, Unemployed Women. View |
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Title: EFFICIENT PAYMENTS SYSTEM AND FINANCIAL DEVELOPMENT AN ANALYSIS OF THE ELECTRONIC PAYMENTS SYSTEM IN NIGERIA.pdf Author: TURAKPE, M. J., PhD., ALOBARI, C. M., PhD. AND AZOROH, B. J. Abstract: This study examines the relationship between payments system and financial development, with particular reference to the electronic payments system in Nigeria. Counteraction, Autoregressive Distributed Lag (ARDL) and Pairwise Granger causality estimation techniques were employed in analyzing data drawn from the Central Bank of Nigeria (CBN) Statistical Bulletin, Annual Financial Stability Reports, NDIC Quarterly Reports, National Bureau of Statistics publications and the Global Financial Data base, for the period 2012 to 2017. The findings of the study reveal that the overall electronic payments system (EPS) has significant impact on all financial development indicators. Particularly, Internet Payments (INT) has significant positive impact on Financial Depth (FDN), while Mobil Payments (MOB) and Point of Sale (POS) have significant impact on Financial Access (FAS). Also, Interbank Payments (NIB), INT and POS all establish significant relationship with Financial Efficiency (FEF). The Granger Causality test reveals unit-directional relationships running from all independent variables to FDN. On the other hand, none of the variables has causality on FAS, although causality is found to run from FAS to NIB; while only NIB exerted causality on FEF. Evidently, the study reveals that the efficiency of electronic payments system can determine to a large extent, the level of financial development in the country. Thus, the study recommends aggressive enlightenment programs to be carried out by the CBN, especially in the rural and remote areas where the mass media cannot effectively reach, so as to increase the awareness and benefits of electronic payments instruments in the country. The CBN in collaboration with the government and financial institutions should take urgent steps to improve on the existing financial infrastructure in the country which have significant implication on the level of financial development. Key Words: Electronic payments system, Financial Development, Financial Efficiency, Financial Depth, Financial Access View |
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Title: PSYCHOLOGICAL CAPITAL AND ORGANIZATIONAL RESILIENCE IN SELECTED OIL AND GAS FIRMS IN PORT HARCOURT RIVERS STATE.pdf Author: ENYINDAH, CHARLES WELE, PhD. AND YORKPARA, PIUS LEKIA Abstract: This study examined the relationship existing between psychological capital and organizational resilience in selected oil and gas firms in Port Harcourt, Rivers State. This study utilized the cross sectional research design. This study employed trio research objectives, research questions and tripartite research hypotheses. The population of this study is180. The sample size using the Krejice and Morgan table of sampling determination (1970) is 123. Structured questionnaires were administered to respondents in order to obtain responses from the respondents and they were analyzed employing the statistical package for social sciences (SPSS version 20). The analysis of the data indicated that there are significant relationships subsisting between psychological capital, its dimensions and organizational resilience and its measures as utilized in this study. This paper concluded that psychological capital has positively correlated with organizational resilience. It is the recommendation of this study that hope should utilized to enhance adaptive capacity in the selected oil and gas firms in Port Harcourt, Rivers State. This study recommended that hope should utilize to enhance management of vulnerabilities. Hope should be utilized as a managerial tool to enhance situational awareness in the selected oil/gas firms in Rivers State. It is also the recommendation of this study that optimism should be utilized to improve the measures of organization resilience in the selected oil/gas firms in Rivers State. The policy thrust of this paper is that managers of organizations and top executives in the oil and gas firms should employ the use of psychological capital in their quest for the needed resilience in their organizations. KEY WORDS: Psychological capital, hope, optimism, organizational resilience, adaptive capacity, situational awareness. View |
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Title: THE EFFECTS OF FINANCIAL INTERMEDIATION ON ECONOMIC GROWTH IN NIGERIA AN EMPIRICAL ANALYSIS.pdf Author: JUMMAI V. MADUME AND SAMUEL DIBIAH Abstract: This study examined the effects of Financial Intermediation on Economic Growth in Nigeria. It used Gross Domestic Product (GDP) as proxy for economic growth and Bank credits to key sectors and Money Supply (M2) as proxy for Financial Intermediation. A time series data for the period 1981-2013 from the Central Bank of Nigeria Statistical Bulletin of all the variables under the study were obtained. The Econometric tools of Engel-Granger Co-integration and Granger Causality methods of analysis were employed to determine the nature of relationship and causality. The results show that financial intermediation affects economic growth positively. Both proxies for financial intermediation which are Bank Credit and Money Supply (M2) have positive relationship with Gross Domestic Product for the period under study. There exist also, a long-run relationship between financial intermediation and economic growth for the period under study with causality flowing from Money Supply to Gross Domestic Product and a bilateral causality between Bank Credit and Gross Domestic Product. Based on these findings, it was recommended that intermediating agencies should encourage financial inclusion by directing credits to all sectors since there is a long run relationship between credit and GDP and that Government should encourage flow of money supply in the system by creating credits through the Central Bank for the deficit units. Keywords: Financial Intermediation, Economic Growth, Bank Credit, Money Supply, Co-integration, GDP. View |
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Title: BUSINESS PROCESS REENGINEERING AND ORGANIZATIONAL COMPETITIVENESS OF MANUFACTURING COMPANIES IN RIVERS STATE.pdf Author: AKHIGBEMIDU, JULIE JITE AND AMAH EDWINAH, PhD. Abstract: In light of stale business processes and decline in quality of products and services of manufacturing firms, this study explored the existing level of relationship between business process reengineering and organizational competitiveness of manufacturing companies in Rivers State. The study employs the Cross sectional research design and studied two firms under food and beverages sectoral group of manufacturing firms out of the 34 listed with manufacturers association of Nigeria; Rivers/Bayelsa branch. The study employed the simple random sampling technique; also Krejcie and Morgan table of sample size determination was used to arrive at our sample size. From the field survey, we retrieved and analyzed two hundred and eighty-nine sets of questionnaire using Kendalls tau-b correlation coefficient to deduce existent association and significance of relationship between and amongst study variables respectively. The Study uncovers that the dimensions of business process reengineering namely; managerial commitment, process redesigning and information technology exhibited significant relationship with organizational competitiveness of the corporations. The study concludes that managerial commitment, internal process redesigning and the adoption of information technology for the process achieved competitiveness. This motivated our recommendation for manufacturing firms and other institutions on how essential business process reengineering is for corporate competitiveness however not in isolation of critical success factors such as top management’s commitment as well as internal process redesigning and adoption of information technology Keywords: Business Process Reengineering (BPR), Managerial commitment, Process redesign, Information Technology (IT) and Organizational Competitiveness. View |
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Title: DETERMINANTS OF TAX COMPLIANCE OF SMALL AND MEDIUM SCALE ENTERPRISES (SMES) IN EDO STATE.pdf Author: PETER OKOEGUALE IBADIN AND RUFUS SUNDAY OLORUNTOBA Abstract: The small and medium scale enterprises (SMEs) represent the pivot of developments globally. To this end, interest is beginning to mount in activities that may suggest positive impact on the SMEs, and consequently, enhance economic growth and development of any country. This has become possible as the SMEs become alive to their responsibilities of meeting their tax obligations which in turn help to build infrastructures. It is in the light of this that this paper examines the determinants of tax compliance amongst SMEs in Edo State, in the South-South Nigeria. This State is a ‘choice study’ to examine the determinants of tax compliance amongst SMEs, given the full compliments of implemented Personal Income Tax (Amendment) Act, 2011.Some variables of interests in this study include Tax Compliance of Small and Medium Enterprises (TCSME), the dependent variable, regressed on the independent variables of Tax Audit (TAUDA), Tax Rate (TAR), Multiple taxation (MTC), Tax Procedures (TPRD), and Firm Age (FRMAGE) as a control variable. The Ordinary Least Square technique (OLS) was used for the analysis, having proven the diagnostic tests that were conducted on the OLS. The findings show that Tax Audit (TAUDA) and Tax Procedures (TPRD) have a positive relationship and a significant impact on Tax Compliance of Small and Medium Enterprises (TCSME) while Tax Rate (TAR), multiple taxation (MTC) and Firm Age (FRMAGE) have a positive but with a non-significant impact on TCSME. On the strength of these findings, it was recommended that the tax rate in Edo State should be made competitive, and multiple tax rates eliminated just as the same laws operate in other states in Nigeria. Besides, the government should consider educating the small and medium enterprises as this can enhance their knowledge and increase their compliance behavior. View |
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Title: THE DETERMINANTS OF CAPITAL STRUCTURE EVIDENCE FROM CONSUMER AND INDUSTRIAL GOODS FIRMS IN NIGERIA.pdf Author: OWOEYE, SEGUN DANIEL, PhD. AND AKINMULEGUN, SUNDAY OJO, PhD. Abstract: Firms as an engine of economic growth and development of nations are plagued with various predicaments in which sources of funds are paramount. The interest of business owners and investors are always on how fund is being raised by managers of the firms. Thus, this study investigated what determined the capital structure of both consumer and industrial goods sub sector of manufacturing firms in Nigeria. Panel data for all the listed consumer goods and industrial goods firms on Nigerian Stock Exchange (NSE) at November 21, 2016 were extracted and analysed with pooled ordinary least square (OLS), fixed effect and random effect models. The results showed that profitability, tangibility, asset turnover and exchange rate were reliable in explaining the capital structure of consumer and industrial goods firms in Nigeria. The study concluded that profitability tangibility, asset turnover and exchange rate were the major determinants of consumer and industrial goods firms in Nigeria. This study recommended that managers of consumer goods firms should model their capital structure decisions with tangibility and exchange rate as their pivot variables; while industrial goods firms’ managers should lay emphasis on profitability and asset turnover. Also, regulatory agent of Nigerian capital market should encourage firms to raise more debt in the market by relaxing stringent requirements to participate in the market. Key words: leverage, profitability, asset-turnover, consumer goods firms, industrial goods firm View |
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Title: THE ROLE OF CORPORATE CULTURE IN DETERMINING A COMPANY’S SUCCESS IN A COMPETITIVE ENVIRONMENT.pdf Author: ANYIM GODFREY AND NWANESI CLEMENT C. Abstract: The need to establish a competitive edge has become inherent in the current business environment. This study identified a gap regarding the adoption and effectiveness of corporate culture on organizational performance. The researcher aimed to bridge the knowledge gap through the establishment of the mode of application and impacts of corporate culture in the business environment and further make sound recommendations. The study focused on the context of Nigerian firms, and the findings revealed a significant correlation between organizational culture and performance. Using survey research design, the researcher integrated 80 participants from the senior, middle, and lower level staffs of the selected organizations. The research hinged on two major hypotheses affirming the positive impacts of corporate culture on performance, employee attitude, and commitment levels. Hypotheses testing were done using the SPSS one sample t tests. The researcher concluded that whereas the Nigerian employees recognize the significance of organizational culture, the mode of implementation remains an imminent challenge. Recommendations dwelt on allowing employees the time to learn and integrate workplace culture and practices. Keywords: Competitive edge, corporate culture, Employee attitudes, Employee commitment. Knowledge gap and Organizational outcomes View |
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Title: FORENSIC ACCOUNTING AND THE PROFITABILITY OF COMMERCIAL BANKS IN NIGERIA AN EMPIRICAL INVESTIGATION.pdf Author: LEYIRA C. MICAH, PhD. AND YOUNG ACHESEOMIE SUNNY-JOE Abstract: This research study investigated the effect of forensic accounting measures of investigative accounting and litigation support services on the profitability of commercial banks in Nigeria. The research which made use of the survey research method and collected data from primary sources with the use of structured questionnaire issued to accounting staff of ten (10) banks. The collected data was analyzed using Pearson correlation and multiple regression analyses. The findings of the study showed that there is positive relationship between the implementation of investigative accounting and litigation support services and the profitability of commercial banks. However, the findings were not statistically significant. Based on the findings of the study, it is concluded that investigative accounting and litigation support services have very little effect on the financial performance of commercial banks in Nigeria in terms of their profitability. It is thus recommended that commercial banks must continually improve on and implement investigative accounting practices that have the potential to enhance financial performance. It is also recommended that they study and garner in-depth knowledge of their forensic accounting methods in order to isolate and improve on the methods that enhance financial value the most. It is further recommended that commercial banks review their investigative accounting methods in order to establish why it is performing below expectation. View |
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Title: EXECUTIVE PAY COMPOSITION AND CORPORATE FINANCIAL HEALTH MAXIMISATION.pdf Author: STANLEY OGOUN, PhD. AND EMMANUEL ATAGBORO Abstract: This study examined the relationship between executive pay composition and corporate financial health maximization in Nigeria. The ex post facto design was deployed in the studying using secondary data as obtained from the Annual Reports and Accounts and Nigerian Stock Exchange Fact-book during the period 2008-2017. The ordinary least square estimation technique was employed via windows software – STATA. Net Interest Margin (NIM), Return on Asset (ROA) and Return on Equity (ROE) were operationalized as proxies corporate wealth maximization derived from corporate performance measures. The aim of the study was to examine executive pay composition (using a single variable approach) and the corporate financial health maximization in Nigeria. Executive pay composition was operationalized using bonus scheme while corporate financial health maximization was operationalized using the indices of ROA, ROE and NIM. From the results of the inferential tests conducted it can be inferred that an executive pay package comprising of a bonus scheme is likely to influence managers to behave in a manner that would ensure the overall wellbeing of the organization. The study recommends that a bonus scheme should be a major component of executive composition as not a way managing agency cost but also as a tool for instigating managerial behavior that would enhance overall wellbeing of the organization. Key words: executive pay composition, corporate financial health maximization, bonus scheme View |