Current Liabilities and Financial Performance of Healthcare Firms in Nigeria (Published)
The study evaluated the relationship between current liabilities and financial performance of healthcare firms in Nigeria. The specific objectives of the study are to assess the effect of Trade Payables, Current Tax Liabilities and Short-Term Borrowings on Return on Assets of Healthcare firms in Nigeria. Ex post facto research design was adopted. Data were collected from annual reports and accounts of sampled firms within the industry to test the null hypotheses that selected current liabilities do not affect return on assets significantly. Correlational analysis was the tool of analysis using panel data set covering Fifty (50) observations from Five (5) firms in the Healthcare sector. The findings revealed that Trade Payables (TP) have weak but significant positive relationship with Return on Assets of Healthcare firms in Nigeria with a correlation coefficient of 0.524514 and a p-value of 0.0001. Current Tax Liabilities have weak but significant positive relationship with Return on Assets of Healthcare firms in Nigeria with a correlation coefficient of 0.539686 and a p-value of 0.0001. Short-Term Borrowings have weak but significant positive association with Return on Assets of Healthcare firms in Nigeria with a correlation coefficient of 0.538232 and a p-value of 0.0001. The implication of the findings is that current liabilities such as trade payables, current tax liabilities and short-term borrowings are significant positive determinants of financial performance of healthcare firms in Nigeria. The study therefore concluded that while the observed relationships were statistically significant, the weak correlations suggest that other factors not examined in this study may have stronger association with return on assets of healthcare firms. The study recommends that effective management of trade payables and current tax liabilities is essential for healthcare firms to successfully navigate the tedious regulatory requirements and enhance financial performance. Furthermore, strategic utilization of short-term borrowings would provide healthcare firms with the necessary financial flexibility to support growth initiatives and address short-term funding needs.
Keywords: Current liabilities, Financial Performance, Nigeria, current tax liabilities, healthcare firms, return on assets (ROA), short-term borrowings, trade payables
Environmental Accounting and Financial Performance of Conoil Plc in Nigeria (Published)
This study investigated the relationship between environmental accounting and financial performance of Conoil. The ex-post facto research design was employed in this case study of the sampled oil gas giant in Nigeria due to its comprehensive disclosure of environmental expenditures in its annual reports. The study utilized secondary data obtained from annual reports and accounts, downloads from Nigerian Exchange Group (NXG), and the company websites covering the period 2008 to 2022. The study employed descriptive statistics, correlation analysis, and Ordinary Least Squares (OLS) regression using Eview9 econometric software for data analysis. The correlation analysis result indicates that environmental restoration costs (ERC) are negatively correlated with profit after tax (PAT) and return on assets (ROA), while a positive correlation exists between PAT and ROA, providing insights into Conoil Plc’s financial and environmental performance dynamics. The regression analyses reveal that while environmental restoration costs have a significant negative impact on return on assets (ROA), neither ERC nor health, safety, and environmental expenses (HSE) significantly influence profit after tax (PAT), indicating the nuanced relationship between environmental accounting metrics and financial performance in Conoil Plc’s operations. The research additionally recommended that the corporation should regularly carry out environmental audits to evaluate adherence to environmental rules and pinpoint opportunities for enhancing environmental performance. The company should allocate resources towards renewable energy projects to reduce reliance on fossil fuels, mitigate environmental impact, and enhance long-term financial sustainability.
Keywords: Financial Performance, Health, environmental restoration costs, safety and environmental expenses
Impact of Internal Control Challenges on Financial Performance of Local Government Councils of Nasarawa State (Published)
This research work examined the impact of internal control challenges on the financial performance of local government councils in Nasarawa State, Nigeria. The study employed a mixed-methods approach, combining qualitative and quantitative research methods. Qualitative data are gathered through interviews and focus group discussions with relevant stakeholders, including council officials, financial managers, auditors, and community representatives. Quantitative data are collected through surveys and analysis of financial reports and performance indicators. A structured close ended questionnaire was administered to 211 staff that forms the sample size. The study used the correlation coefficient to establish the relationship between internal control challenges and financial performance, while the multiple regression analysis was used to test all the hypotheses of the study at 0.05 level of significance. Result of the correlation indicates significant relation between internal Control and financial performance whereas the regression analysis found that internal control challenges have significant positive impact on financial performance of Local Government Councils in Nasarawa State. It concluded therefore that effective accountability and stable financial practices in Local Government Councils can only be achieved through a properly instituted internal control system with free or minimal challenges. It recommended that: functions and responsibilities within the local government councils are clearly defined and separated.
Keywords: Financial Performance, Internal control, Local Government, councils
Corporate Governance Practices and Performance of Deposit Money Banks in Nigeria (Published)
Performance of deposit money banks in Nigeria. The specific objective of the study was to critically appraise the relationship between size of board of directors, composition of board members, frequency of board meetings and return on assets of deposit money banks in Nigeria. The data were sourced through secondary sources from annual reports and accounts of sampled deposit money banks in Nigeria. The stated Null Hypotheses were tested through data analysis by using the correlation analysis as analytical tool. The research findings reveal that board size has a positive and strong relationship with return on assets while board composition has a positive but moderately strong association with return on assets. Furthermore, frequency of board meetings has a negative and very weak relationship with return on assets of deposit money banks in Nigeria. The implication of the findings is that increased board size could result in the improvement of financial performance of deposit money banks. The research found that such increase in number of members of the board will generate the desired outcome if it centers on independent nonexecutive directors with wealth of corporate governance experience, sound and profitable contacts, good and relevant education. The negative relationship with frequency of board meetings implies that banks should begin to trim down on number of board meetings as research has found that frequent meetings signal a crisis or distress situation with perceptions of going concern issues and bank failure. The study recommends that new independent non-executive professionals with critical governance and management attributes could be introduced into the board to improve the quality of decisions, earnings and general performance. Frequency of Board Meetings should be reduced to save cost and time while virtual meetings should be called more often than physical meetings as distance is no longer a barrier.
Keywords: Banks’, Board Composition, Board Meetings, Board size, Financial Performance, Nigeria, Return on Assets
Factors Affect Financial Performance of Savings and Credit Co-Operative Societies During Covid 19 Pandemic in Dodoma Region (Published)
The objective of the study was to assess factors affect the financial performance of the Savings and Credit Cooperative Societies operating in Dodoma Tanzania. The quantitative method was used to analyse data. The descriptive survey was used whereas systematic and purposive sampling techniques were used to secure 63 respondents. Survey, and documentary review were used to collect data meanwhile descriptive and regressions analysis were used in data analysis. There study was guided by Resource Dependence Theory (RDT), and Cash Conversion Cycle Theory. The results revealed that the overall model was statistically significant since (Prob > chi2=0.000). The model’s independent variables explained almost 63.8% of the variation in the return on asset of SACCOS in Dodoma. The following explanatory variables (such like interest rate, loan default and drop out of the members) were statistically significant influencing the return on asset for SACCOS selected from Dodoma Tanzania. Researcher recommended SACCOS should put more emphasis on online supervision and self-regulation in periods of pandemic, and considered it as one of the strategies to help the viability of the sector. Cooperative Audit and Supervision Corporation should opt to use off-site audit under hygienic environment to curb the spread of the virus.
Citation: Juma M.L. and Maseko F.E. (2022) Factors Affect Financial Performance of Savings and Credit Co-Operative Societies During Covid 19 Pandemic in Dodoma Region, European Journal of Accounting, Auditing and Finance Research, Vol.10, No. 11, pp.104-124
Keywords: COVID-19 pandemic, Financial Performance, SACCOS
Internal Audit Practices and Financial Performance of Construction Companies in Nigeria (Published)
This study was carried out with the aim to examine internal audit practices and financial performance of construction companies in Nigeria. In order to actualize the objectives of the study, various literature and theoretical issues was discussed. The instrument used for the purpose of this research was gathered through primary source. The researcher administered a total of two hundred (200) questionnaires to respondents, out of which one hundred and eighty-eight (188) was retrieved and was used for the presentation and analyses. The hypotheses were tested using Ordinary Least Square (OLS) regression technique. The findings from analysis revealed among other things that there is a positive and significant relationship between size of the internal audit, experience of the internal audit, qualification of the internal audit and Financial Performance. The study also revealed that there is a positive and insignificant relationship between independence of internal audit and Financial Performance. In line with the findings, we recommend that the internal auditor should have maximum independence from the industry they work in. The internal audit activities must be positioned in such a way that it may obtain cooperation from industry that is being audited that have free, unrestricted access to all functions, records, property and personnel including those charged with governance.
Citation: Jacob, M.S., Edheku, O.J., and Obembe, O.J. (2022) Internal Audit Practices and Financial Performance of Construction Companies in Nigeria, European Journal of Accounting, Auditing and Finance Research, Vol.10, No. 11, pp.87-103
Keywords: Companies, Construction, Financial Performance, Nigeria, internal audit practices
The Effects of the Budgetary Process on the Financial Performance of Commercial Banks in Tanzania: A Case of CRDB, NMB AND NBC (Published)
The objective of the study was to investigate the effect of budgetary process on the Financial Performance of Commercial Banks which were NBC, NMB and CRDB in Dodoma Tanzania. The mixed method was used as both qualitative and quantitative data were used. The descriptive survey was used whereas randomly sampling was used to secure 95 respondents. Survey, interview and documentary review were used to collect data meanwhile descriptive and multiple regressions were used in data analysis. There was grounded on Resources allocation theory and structure efficiency theory. The results showed that budgetary process had positive and significant effect of Financial Performance of Commercial Banks. This is because R2 = 58.6% while at F (8, 87) = 28.86, p < 0.000 implied that budget process had positive and significant effect on FP of CBs in Dodoma Tanzania. Researcher recommended that budgetary process should be enhanced through an increased participation and enhance on internal controls.
Keywords: Commercial Banks, Financial Performance, budgetary process
Credit Risk and Financial Performance of Deposit Money Banks in Nigeria: Moderating Role of Risk Management Committee (Published)
The global financial crisis of 2008 and the economic dislocation that followed the emergence of COVID 19 adversely affected financial institutions leading to debt crisis in the Nigerian banking sector. Despite the risk management framework within the banking sector, credit still remains a crucial factor in comparison to other driving factors in the bank, due to its attendant risk and the effect on the economy. This study examined the risk management committee’s role on the effect of credit risk on financial performance of 13 deposit money banks in Nigeria from 2012 to 2021. Finance distress theory was adopted for the study. The study adopted census sampling technique. Regression model used to analyze the panel data. The multiple regression result revealed that credit risk has a negative and significant effect on financial performance. The moderating role of risk management committee revealed that credit risk has a positive and significant impact on financial performance of deposit money banks in Nigeria. The study recommends that DMBs in Nigeria should continue improving on their risk management policies to enable good credit facility procedures to borrowers, also the board of directors should actively participate in managing the credit facilities to customers.
Keywords: Credit risk, Deposit Money Banks, Financial Performance, Nigeria, Risk Management
Credit Risk Management and Financial Performance of Commercial in DRC (Published)
This study had two specific objectives which are: Establish the effect of credit risk management on performance of commercial banks in DRC. And to identify the most healthiness Commercial banks in DRC. In this study we have responded to two questions: Is there a relationship between the credit risk management and the performance of Commercial banks in DRC? What’s the healthiness commercial bank in DRC? After analysis we concluded that the credit risk management has not any impact with the financial performance of commercial banks in DRC and the best commercial bank in DRC was BCDC during the time covered by this study
Citation : Duniamastaki Jean (2022) Credit Risk Management and Financial Performance of Commercial in DRC, European Journal of Accounting, Auditing and Finance Research, Vol.10, No. 10, pp.34-54
Keywords: Commercial Banks, Credit, DRC, Financial Performance, Risk
Corporate Social Responsibility Accounting and Financial Performance of Breweries in Nigeria (Published)
The study aimed to investigate corporate social responsibility accounting and performance of breweries in Nigeria. The study adopted a library research which entails a review of both conceptual and empirical literatures which formed the basis for drawing up conclusion by the researcher, after a careful review of the literatures. Surveys of empirical studies revealed that consensus have not been reached on the relationship between corporate social responsibility accounting and the performance of breweries companies in Nigeria. While many researchers found a significant relationship between corporate social responsibility accounting and the performance of breweries companies in Nigeria, other found an insignificant relationship between corporate social responsibility accounting and financial performance, hence it can be concluded that investigations into the relationship between corporate social responsibility accounting and financial performance are inconclusive and requires more empirical studies. In line with the findings, the study recommended that government as well as regulatory authorities of corporate organizations should make the issue of corporate social responsibility accounting mandatory/compulsory for the entire listed companies in Nigeria in general and the brewery companies in particular. This will compel the brewery companies to give back to the society in which they operate and polluted by the activities of their operations.
Citation: Obembe, Olalekan J.; Jacob Martins Siga; Edheku, Ochuko Joy (2022) Corporate Social Responsibility Accounting and Financial Performance of Breweries in Nigeria, European Journal of Accounting, Auditing and Finance Research, Vol.10, No. 9, pp.58-70
Keywords: Corporate Social Responsibility, Financial Performance, Operations, brewery companies, corporate organizations