European Journal of Accounting, Auditing and Finance Research (EJAAFR)

EA Journals


Empirical Study of the Effect of Sustainability Accounting Disclosures on Financial Performance of Brewery Firms in Nigeria: Evidence from Nigerian Breweries PLC (Published)

The main motivation of this study stemmed from the dearth of empirical evidence of the effect of sustainability accounting disclosure on financial performance of Brewery firms in Nigeria and also to provide empirical proof on “governance disclosure” as one of the explanatory variables of sustainability accounting disclosure. Consequently, this study ascertained the effect of sustainability accounting disclosure on financial performance of Brewery firms in Nigeria. An ex–post facto research design approach was adopted for the study. The population of this study comprised five (5) Brewery firms quoted on the floor of the Nigeria exchange group (NGX), and Nigerian Breweries Plc was purposively used as the sample size of this study. Secondary data were carefully sourced from the financial statement/annual reports and sustainability reports from 2013 to 2022 of the Brewery firms quoted on the Nigeria exchange group (NGX). Least regression analysis by aid of E-views 10.0 software was used to test for statistical significance of the effect of sustainability accounting disclosure on financial performance of Brewery firms in Nigeria. The results showed that Economic Sustainability disclosure indexes do not significantly affect Net Profit Margin of Brewery firms in Nigeria. The findings further revealed that Environmental Sustainability disclosure indexes significantly affect Net Profit Margin of Brewery firms in Nigeria. More so, results showed that Social Sustainability disclosure indexes do not significantly affect Net Profit Margin of Brewery firms in Nigeria. Finally, the result established also that Governance Sustainability disclosure indexes do not significantly affect Net Profit Margin of Brewery firms in Nigeria, this study recommends among others; that managers of Brewers in Nigeria should improve and sustain full disclosure practices on economic, environmental, social and governance disclosures following the guidelines of the Global Reporting Index(GRI) as they are capable of exerting significant effect on financial performance of firms in Nigeria.

Keywords: Economic, Environmental, Governance, Net Profit Margin, Social, brewery firms, sustainability disclosure indexes

Board Diversity and Environmental Sustainability Disclosure in Oil and Gas Companies: Evidence from Nigeria (Published)

This study examines the influence of board diversity on environmental sustainability disclosure in oil and gas companies in Nigeria. Communities that produce oil in the Niger Delta region of Nigeria have seen ongoing oil spills over time, leading to an intolerable economic situation. The goal of this study is to ascertain whether factors such as board size, board gender, board nationality, and board independence have an impact on environmental sustainability disclosure in Nigerian oil and gas companies. Ex-post facto research approach was used in this study to explore the cause-and-effect relationship between the dependent and independent variables. The study comprised of eight oil and gas companies in the Nigerian Exchange Group. Secondary data from 2011-2020 was used and panel multiple regression analysis was used to analyze the data. Results revealed  board  independence (BIND)  showed    positive  relationship with environmental sustainability disclosure,  but   was  insignificant to environmental sustainability disclosure, board  size (BSZ) showed negative  relationship  with  environmental sustainability disclosure, but was significant to environmental sustainability disclosure, while board gender diversity (BGD)  showed  negative  relationship with  environmental  sustainability  disclosure, but  was  insignificant  to  environmental  sustainability disclosure, board  nationality (BNAT) showed  negative  relationship with environmental sustainability disclosure, but  was also insignificant to environmental sustainability disclosure. This study concluded that reduced board size would lead to increased environmental sustainability disclosure in oil and gas companies in Nigeria. Despite the negative relationship between environmental sustainability disclosure and independent variables, it is still believed that board diversity has a great influence on information disclosure. It is recommended that both the government and management of these companies should be alive to their responsibilities in maintaining and preserving the natural environment.

Keywords: Corporate, Environmental, Governance, Oil and Gas, Sustainability

Effect of Corporate Governance on Financial Performance of Quoted Commercial Banks in Nigeria (Published)

This study investigates the impact of corporate governance on the financial performance of Nigeria’s publicly traded commercial banks. The objective of this study is to determine if board size, board female gender, and board independence have effect on the financial performance of quoted commercial banks in Nigeria. Five (5) quoted commercial banks in Nigeria was examined, ranging from the years 2011 to 2020. Secondary data was used and obtained from the bank’s annual reports published in Nigeria Exchange Group. Cross-Sectional research design was used, and the method of data analysis used was panel multiple regression. Findings revealed  that board independence has a significant impact on financial performance ( return on assets) of quoted commercial banks in Nigeria but  shows  negative  relationship with financial performance  ( return on  assets)  of  quoted commercial banks, study further revealed that board size has a negative relationship with  bank’s financial performance (return on assets) but has  significant value  on  the  financial performance (return on assets) , findings also  revealed that at least two female board members were represented in every corporate organization studied,  female board membership has a positive relationship with banks’ financial performance (Return on Assets), but shows  insignificant value on financial performance (return on assets). The study concluded and recommended that, despite some of the independent variables shows insignificant values, Board independent, Board size, Board female gender mechanisms continue to be a critical component of corporate governance in achieving any organization’s objectives, financial or otherwise.

Citation: Orumwense E.K. and Orumwense O. (2023) Effect of Corporate Governance on Financial Performance of Quoted Commercial Banks in Nigeria, European Journal of Accounting, Auditing and Finance Research, Vol.11, No. 4, pp.1-14


Keywords: Banks’, Board Composition, Corporate, Governance, Nigeria, financial crisis

Does Corporate Social Responsibility Influence Firms Performance in Nigeria? (Published)

The social responsibility disclosure has become a widely and persistent debated topic of discussion in the Nigerian academic community given the effects that business environment activities have on employees, communities, clients, society, business associates, shareholders, and environment. The global economic challenges which have hinder effective operation in the deposit money banks to operate thereby reduce their performance.  It is against this backdrop that this study examined the effect of social responsibility disclosure and firm performance in Nigeria. Social responsibility disclosure as the explanatory variables was proxied with environmental disclosure, governance disclosure, human resources disclosure and community disclosure while the response variable is the firm performance. The sampling technique were adopted by the reviewed studies. A mixed approached of data were used (primary and secondary sources of data were extraction from both questionnaires and the annual report and accounts from various studies. Theory and hypotheses were adopted and multiple regressions were used to analysis their data. Based on the reviewed studies, it was established that environmental disclosure and human resources disclosure are insignificant effect on the firm performance, while the governance disclosure has a significant effect on firm performance, while the community disclosure is positive and insignificant influencing firm performance. It is recommended among others that companies should engage the speciality on environment reporting to reduce the performance on the firms. Also, firms should improve by participating in community services for better disclosure the community activities and maintain the current governance disclosure level because has been found empirically to increase the firm performance. 

Citation: James George Apochi and   Samuel Eniola Agbi  (2022) Does Corporate Social Responsibility Influence Firms Performance in Nigeria? European Journal of Accounting, Auditing and Finance Research, Vol.10, No. 9, pp.1-12

Keywords: Environmental, Governance, Human Resources, community disclosure, firms’ performance


This study aimed to investigate the extent of corporate governance principles in the public shareholding companies listed on the First Market in Amman Stock Exchange .To achieve the objective of this study , the researchers distributed 55 questionnaires to first market companies in Amman Stock Exchange, The results showed that there is a strong application of corporate governance principles in the public shareholding companies listed in the First Market in the Amman Stock Exchange .Moreover there is a declination in staff awareness of public shareholding companies listed in the First Market in the Amman Stock Exchange , the importance of corporate governance and its principles .In addition, there is also a declination related to hide some information to shareholders , whether financial or non-financial , and a declination of disclosing strengths and weaknesses points , either in company’s financial system or its disclosures annual reports management in the, and a decrease in Board of Directors member occupation of any executive function ,either with or without salary

Keywords: Amman Stock Exchange, Financial Performance, Governance, Shareholding

The Governance Capability to Support Accounting & Financial Disclosure in the financial Statements (Case Study – Industrial Sector) (Review Completed - Accepted)

In the last years we can see increased in attention of disclosure & transparency, because it have an important role to providing the necessary information that will help to improve & understand the financial instrument and improve the joint-stock companies performance in order to provide specific information to be used .then the companies can take the appropriate accounting policies and the best way to risk management, because all the investors need to achieve those goal and maximization wealth in legitimate ways. This study reached to the existence of the basis of an arbitrator & effective governance rules through fit the requirements of the rules of governance with the amount of disclosed in the joint-stock companies under study, that provide a regulatory framework that will help to give an effectively controls all aspects of governance and corporate performance and provide clear legislation sets out the responsibilities to ensure that the interests of public in joint-stock companies.The study proved the existence of an effective working mechanism between stakeholders and the Board of Directors to provide continuity of the company and provide an opportunity for stakeholders to get proper compensation when their rights are violated

Keywords: Disclosure, Financial Statement, Governance, Industrial Sector, Joint-stock Companies, Transparency

Poor Budgetary Performance: Causes and Implications For Development (Published)

Today there has been a considerable increase in the variety and range of services that state governments in the country are expected to provide in their area. Government at the state level undoubtedly is expected to provide all the necessary social and infrastructural facilities needed by her citizenries at affordable or no cost. But contrary to this, are recorded infrastructural decays, diversion of funds, projects abandonment, wasteful spending, and low standard of living and so on. For a government to thrive and discharge its responsibilities there is the need for proper planning. Planning in the context of public sector begins with budgeting. It is observed that the issue of budgeting has not been taken seriously in Ondo state However, despite the fact that the government prepared budget annually, the government sees it as an annual event and administrative routine exercise and never show recourse to it. The issue in this paper therefore is to look into the causes and implications of poor performance of budget in ondo state. The research was a case study and data were sourced from government workers using a questionnaire. A total of 150 questionnaires were distributed and 119 retrieved. Data obtain were analysed using descriptive and empirical analyses. The descriptive analysis employs the use of tables, percentages and charts to describe the characteristics of the responses in the questionnaires. The empirical analysis employs the use of multiple regressions of the ordinary least square and covariance and correlation analyses. The results of the analyses show that factors such as poor planning, fraudulent manipulation, lack of adequate professional knowledge, delay in passage of budget, late release of fund are all responsible for poor budget performance in the state. The implication is that it discourages investors due to poor condition of the state infrastructures, it reduces the standard of living of the people of the state, and it slows down economic development through wasteful spending, extra budgetary spending and debt accumulation.

Keywords: Budget Performance, Extra Budgetary Spending, Governance, Wasteful Spending

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