Moderating Role of Board Size on Debt Capital and Firm Performance of Quoted Industrial Goods Companies in Nigeria (Published)
Financing sources of any corporate organization are a serious determinant of its performance because either equity or debt financing has its cost. The interaction between them has to be evaluated periodically. Against this background, this study establishes the Moderating role of board size on debt capital and the firm performance of industrial goods companies in Nigeria. The population of the study comprises the thirteen industrial goods companies quoted on the Nigeria Exchange Group (NGX). The population was wholly sampled for the study. Debt financing represented by debt-to-total asset was the independent variable, while, firm performance) was measured by return on assets (ROA). The panel data were obtained from the financial statements of the companies from 2012-2021. The study adopts a bi-model approach for clarity of presentation and analysis. The analysis was conducted with the aid of the pooled Ordinary Least Square Multiple Regression method and the result from Model I showed that debt capital has a significant negative effect on the firm performance of the sampled companies. The result from Model II indicated that board size has an insignificant positive moderating effect on debt capital and firm performance. The study recommends that the management of industrial goods companies in Nigeria should keep debt capital at its lowest to improve their performance.
Keywords: Board size, Firm Performance, debt capital, moderating variable and return on asset.
Corporate Attributes as Correlates of Social Accounting Reporting: The Mediating Role of CEO Education (Published)
This study determined the moderating effect of corporate attributes and social accounting reporting: the moderating role of chief executive officers’ educational qualification in Nigeria. This study adopted ex-post facto research design. Simple random sampling technique to sample listed consumer and health companies. Secondary data derived from the financial statements of listed healthcare and consumer’s firms were reviewed for the study for the period 2017-2021. The data set was first subjected to pre-regression analyses which include descriptive statistics analyses, correlation analyses and the test for normality of residua. Logistic regression was used for the data analysis. Findings of the study revealed there is a significant moderating effect of CEO educational qualification on the influence of firm size, leverage and board size on financial, social reporting disclosures of listed Nigerian companies. It was recommended that company boards should factor in CEO educational qualifications when choosing a chief executive for the company. Also, Organizations must set up market measures and parameters that will empower them to be educated about being socially and environmentally responsible to make corporate social responsibility fruitful and to make industrial products meet anticipated economic, social and environmental needs.
Keywords: Corporate Social Responsibility, Environment, Firm Performance, Social Accounting, Triple bottom line, social and governance (ESG)
Market Risk and Earnings Capacity of Agricultural Firms in Nigeria (Published)
The study investigated the effect of Market risk on the performance of Agricultural firms in Nigeria for the period 2014 to 2018. Three objectives were formulated and the study employed Cause-effect research design using secondary data collected from CBN statistical bulletin and financial statement of the firms. Descriptive statistics and panel data analysis were adopted in analyzing the data gathered. Hausman test was used to choose the best estimates between fixed effect and random effect. The results show that interest rate change and exchange rate change have positive and significant effect on firm performance, while commodity price change effect was negative and also significant.. The study therefore recommends among others that government should ensure a favourable and more stable interest rate to a point that it could be attractive to foreign and local investors as it is an indicator of a stable economy.
Citation: Stella Nonye Agubata and Augustine Chukwujekwu Odubuasi (2021) Market Risk and Earnings Capacity of Agricultural Firms in Nigeria, European Journal of Accounting, Auditing and Finance Research, Vol.9, No. 9, pp.30-40
Keywords: Firm Performance, commodity price risk, exchange rate risk, interest rate risk
Audit Committee Attributes and Corporate Performance: Evidence from Selected Manufacturing Firms in Nigeria (Published)
The study examined the relationship between audit committee attributes and performance of manufacturing firms in Nigeria. Ex post facto research design was used while the data source for analysis was secondary and drawn from 2012-2019. Using judgemental sampling method, fifteen (15) firms were selected from the listed manufacturing firms in Nigeria. Data collected were analysed while the hypotheses formulated were tested using Pearson correlation matrix. The result revealed that audit committee size and audit committee meetings have positive association with performance of manufacturing firms in Nigeria; while audit committee independence has a negative association with performance of manufacturing firms in Nigeria. Based on the findings, the study recommends that the corporate governance discussions should be re-focused from independence to size and meetings of the audit committee. A ceiling should be pegged on the minimum number of meetings audit committee members should attend in a financial year.
Citation: Okeke P. C., (2021) Audit Committee Attributes and Corporate Performance: Evidence from Selected Manufacturing Firms in Nigeria, European Journal of Accounting, Auditing and Finance Research, Vol.9, No. 9, pp.1-17
Keywords: Firm Performance, audit committee independence, audit committee meetings, audit committee size
Board Characteristics and Firm Performance- Evidence from Palestine (Published)
The objective of this research paper is to assess the relationship between the Return on Assets and Board Characteristics (Board independence, Board meeting, Board size, Board expertise, Company size and Company year of incorporation). The research consisted of examining companies listed on the Palestine Exchange with analysis undertaken through regression analysis. After studying the six variables, the researcher found the existence of only one relationship which was between the age of the organization/ year of incorporation and the company’s Return on Assets (ROA). This paper provides a greater insight to understanding corporate governance in Palestine. The approach, taken in this paper, will enable companies to assess the true relationship between the Return on Assets to Board independence, Board meeting, Board size, Board expertise, Company size and Company year of incorporation. It will enable them, also, to find ways of ensuring these factors become more relevant to the organization’s performance. Palestine is still a young country in relation to corporate governance and the outcome of this paper will enable companies to grow positively
Keywords: Board Characteristics, Corporate Governance, Firm Performance, Palestine