Accounting and Finance

This study x-ray’s the interest rates regime in Nigeria as it affects the performance of the Nigerian Capital Market. In order to achieve this objective, relevant data for a period of 33 years spanning from 1981 – 2013 were obtained from the Factbook of the Nigerian Stock Exchange, CBN Statistical Bulletin as well as the annual accounts of quoted firms for the relevant years. The data obtained were analysed with the Ordinary Least Square (OLS) technique. The result from our analysis reveal among others that changes in interest rate regimes have majorly influenced the level of the performance of the Nigerian Capital Market. Based on the above, we recommend that capital market regulators and other regulatory agencies should keep an eye on movements in interest rates and the Minimum Rediscount Rate (MRR) (now MPR) and watch their trend. We also recommend that efforts must be put in place to establish a policy review and reassessment mechanism that would help in assessing the impact of ...

In most economies, variations in interest rates have become a prominent feature both in the long-run and short-run. This study thus examines by means of robust analysis, the effect of the variations in interest rates on the level of stock market capitalization in Nigeria for a period of 29 years (1981-2009). Data was obtained from the statistical bulletin of the Central Bank of Nigeria (CBN) for the relevant years. The analysis of the data obtained was done with the Ordinary Least Square (OLS) method. The results from the study showed that variations in interest rate significantly affect the level of stock market capitalization, thereby suggesting that there is a significant relationship between interest rate variation and the level of stock market capitalization in Nigeria for the period under study. Based on the above, it was recommended that the Government of Nigeria and the appropriate monetary authorities should continue to give serious attention to policies geared towards lend...

The purpose of this study is take a closer look at the concept of human capital accounting as it affects financial statement analysis and decision making since human capital is the major driver of the competitive advantage of companies globally and Nigeria in particular. A total of 145 respondents comprising of investors in the Nigerian capital market, practicing accountants and academics in Tertiary Institutions in Nigeria took part in this study. A validated self-structured questionnaire was the instrument used in gathering primary data for this study. Frequency counts, simple percentages and the chi-square (x2) were the descriptive and inferential statistics employed in the analysis of the data obtained at a 0.05 level of significance. This study however found amongst others that there is a significant relationship between human capital accounting and the comparability of financial statements in Nigeria. Based on the findings, we recommend that appropriate steps must be taken by ...

This study focused on ascertaining the value relevance of gender diversity in determining share price movements among listed firms by obtaining evidence from a notable Sub-Saharan African (SSA) country - Nigeria. Panel data were collated from companies’ annual reports for 6 years covering 2012 – 2017. In estimating the models formulated to test the postulated hypotheses, the multiple regression technique was applied along with the fixed and random effect analyses. On a general note, findings indicate that the level of gender diversity in corporate boards are value relevant in determining movements in share prices since they have strong and positive effect on variations in share prices of listed firms. We therefore recommend amongst others, the passage and enforcement of legislations by the relevant and appropriate authorities and organs of regulatory controls in Nigeria, requiring all corporate boards to have a minimum proportion of female presence in their respective boardrooms. Ov...

This study assesses the statistical association between the qualities of auditors and the value of Nigerian listed companies. The study used secondary data that came from the publicly available financial records of 22 Nigerian service listed companies. The investigation was conducted during a ten-year span from 2011 to 2020. The panel data for all the variables included in this study were examined with descriptive statistics, diagnostic tests, and inferential statistics. The study assessed company value using Tobin's Q. Due to the nature of the investigation, a linear model was constructed and verified using simple regression analysis. According to the study's statistical findings, audit fees and firm worth are significantly correlated; while audit tenure and joint audit continued to have a negligible impact on business value. The study found that the characteristics of auditors as a whole had a considerable impact on the value of listed service firms in Nigeria. Based on th...

This study assesses the statistical association between the qualities of auditors and the value of Nigerian listed companies. The study used secondary data that came from the publicly available financial records of 22 Nigerian service listed companies. The investigation was conducted during a ten-year span from 2011 to 2020. The panel data for all the variables included in this study were examined with descriptive statistics, diagnostic tests, and inferential statistics. The study assessed company value using Tobin's Q. Due to the nature of the investigation, a linear model was constructed and verified using simple regression analysis. According to the study's statistical findings, audit fees and firm worth are significantly correlated; while audit tenure and joint audit continued to have a negligible impact on business value. The study found that the characteristics of auditors as a whole had a considerable impact on the value of listed service firms in Nigeria. Based on th...

This study examined the impact of auditors' liberty on the timely submission of audit reports by financial institutions in Nigeria (2011-2020). For the study, two research hypotheses were developed, and tested based on the purview of  ex-post facto research design. All financial firms quoted and trading on the Nigerian Exchange Group (NGX) as of December 31, 2021, were included in the study's population. Twenty-three (23) financial firms were chosen as a sample. The Nigerian Exchange Group (NGX) website and the annual reports provided by the sampled companies themselves served as the study's primary secondary sources of data. The hypotheses were validated using random effect least squares regression. The study found that audit fees have a significant negative impact on timely submission of audit reports, but that the gender diversity of the audit committee had no mitigating influence on this relationship. In light of the findings, the report suggests, among other things,...