Mohammed Ibrahim is in the Department of Accounting, Faculty of Social and Management Sciences, Air Force Institute of Technology, Kaduna, Nigeria Supervisors: Prof. Kabir Tahir Hamid, Prof. Aliyu Slaiman Kantudu, Prof. Ibrahim Magaji Barde, Prof. Liman Muhammad Liman, Prof. Junaidu Muhammad Kurawa, Prof. Bala Sulaiman Dalhat, Prof Shehu Hassan Phone: 08039704145 Address: Department of Accounting, Gombe State University, Gombe, Nigeria
This study examines whether Cost of Capital (COC) impact on the financial performance of listed n... more This study examines whether Cost of Capital (COC) impact on the financial performance of listed non-financial firms in Nigeria for the period 2015-2019. Using two-step system Generalised Method of Moments (GMM), the study found a significant and negative impact of COC on financial performance of listed non-financial firms in Nigeria. This is because profitable firms have the opportunity to finance new investments with retained earnings rather than through a new debt and/or equity issuance. Also, raising the debt level of a firm may result in an increase in distress costs, and as such reduces benefits from the tax shield which consequently result in decline in the value of the firm. Thus, the finding of this study is in line with the pecking order theory of capital structure. The findings, which add to the existing knowledge with regard to the impact of COC on financial performance, should be interesting to the providers of finance. This is because the study helps them to make the de...
International Journal of Accounting and Finance (IJAF), 2020
This study examined the effects of board attributes on tax planning of listed non-financial compa... more This study examined the effects of board attributes on tax planning of listed non-financial companies in Nigeria. It aims at finding out using quantitative research method, board attributes that increase tax planning, thus, reducing tax liability of listed non-financial firms in Nigeria. Data for the study were collected from the annual reports and accounts of the sampled companies for a period of ten years (2008 to 2017). The data collected were analysed using descriptive statistics to provide summary statistics for the variables, and correlation analysis was carried out using Pearson product-moment correlation to determine the relationship between the dependent and independent variables. Regression analysis was also conducted. The study revealed that board independence has a significant negative effect on tax planning; foreign directorship has a non-significant negative effect, while gender diversity, board size, and board meetings have non-significant positive effect on tax planning in listed non-financial companies in Nigeria. In addition, profitability has a significant positive effect on tax planning as leverage depicts significant negative effect on tax planning. The study is limited to non-financial companies in Nigeria; hence, the findings are useful to the stakeholders of those companies. In addition, the findings can be generalized to emerging economies that have similar economy, politics, and code of corporate governance with Nigeria. The findings imply that having independent and foreign directors on the board of directors increase tax planning, thereby reducing tax liabilities. Therefore, independent and foreign directors have similar ideas towards tax planning. Also, board size, gender diversity, and board meetings do not contribute towards tax reduction via tax planning activities. Findings from this study contribute to the literature on corporate governance and tax planning in Nigeria by encouraging management of listed firms to be more proactive in tax planning. Theoretically, the study is significant for its contribution to agency and stakeholder theories as they explain relationship between board attributes and tax planning.
This study investigated the impact of cash conversion cycle on the value of listed oil and gas co... more This study investigated the impact of cash conversion cycle on the value of listed oil and gas companies in Nigeria, with the specific objectives of determining its impact on share price and Tobin’s Q. To achieve this, panel data is applied with the use of descriptive, correlational and explanatory research design. The study hypothesised two research hypotheses and generalised least square regression is used in analysing the collected data that were extracted from the annual reports and accounts of eight listed oil and gas companies in Nigeria for the period 2006-2019. Share price and Tobin’s Q were used as proxies for value of firm. The study found that cash conversion cycle has a negative and significant impact on the value of listed oil and gas companies in Nigeria. In view of this finding, the study recommended, among others, that the cash conversion cycle should be reduced as reasonably possible below 365 days when the economic condition is good and vice versa when the economic...
The main objectives of microfinance schemes to alleviate poverty and to enable the poor to empowe... more The main objectives of microfinance schemes to alleviate poverty and to enable the poor to empower themselves are in line with the Islamic economic principles of justice. However, the conventional microfinance schemes and operations based on interest (riba) are prohibited in Islam and thus, cannot be used by and for the Muslims. Hence, various Islamic financing schemes offered by Islamic Microfinance banks have the salient features and characteristics that can contribute towards a more ethical economic and financial development of the poor and micro entrepreneurs. The aim of this study is to examine the views of both the management and the clients of Tijarah Microfinance Bank; Bauchi, Nigeria on its role in alleviating poverty and to find out whether there is significance difference between the views of the two categories of respondents. The population of the study consists of all the clients and the management staff of Tijarah Microfinance Bank Limited, Bauchi. There are eleven (11...
Audit failures such as in the case of Enron Corporation, WorldCom Corporation, Global Crossing, I... more Audit failures such as in the case of Enron Corporation, WorldCom Corporation, Global Crossing, ImClone Systems Incorporation and Tyco International have raised concerns on the auditors' ability in discharging their duties. Emergent economies are not exceptional from large corporate failures; for instance the corporate failures in the Nigerian financial sector in the early 1990s brought auditors into sharp focus and caused the public to question the role of accountants and auditors. This study assessed the impact of audit fees on audit quality of listed conglomerates in Nigeria over the periods 2004 to 2015. Data for the study were collected from the annual reports and accounts of the companies. A panel data was employed specifically using, OLS and Random Effect regressions. The paper observed that both audit fees and audit firm size have positive impact on company audit quality. The paper suggested the need for regulatory bodies in line with best practices to look critically in...
This study assessed the level of public expenditure management at the Local Government Level in K... more This study assessed the level of public expenditure management at the Local Government Level in Katsina State, Nigeria. The population of the study was made up of all the 34 Local Governments in Katsina State. A Stratified Sampling Techniques was used to selects six Local Governments from the population. Two Local Governments were selected each from the three senatorial zones of the State. One hundred and twenty (120) copies of questionnaire were distributed to the respondents, twenty (20) copies of questionnaire for each of the sampled Local Government. The secondary data was obtained from the approved budget of the local governments (2009-2014) and the reports from the office of the Auditor General of the local government, Katsina State. Descriptive statistics, Chi-Square (X 2 ) Test and Paired Samples T-test were used as the techniques for data analysis. It was found out that Local governments in Katsina State do not make effective utilization of financial resources. This means t...
The importance of finance to agricultural development cannot be overemphasized. Owing to the fact... more The importance of finance to agricultural development cannot be overemphasized. Owing to the fact that the agricultural sector is an important engine of National economic growth, the Federal Government has embarked upon series of programs and policies to transform the productive capacity of the sector. But the sector's performance remains skimpy. The aim of this study is to ascertain the factors bedeviling financing the agricultural sector. This study employed a content analysis method of research and used a literature based method for analysis. It was found among others that; low level of monitoring and evaluation of financial policies, inadequate qualified personnel to manage financial resources devoted for agricultural investment, policy inconsistency and corruption are the main obstacles to the success of financial commitments to the agricultural sector. The paper recommends that government should ensure effective monitoring and evaluation of agricultural policies instead of...
This study assessed the level of public expenditure management at the Local Government Level in K... more This study assessed the level of public expenditure management at the Local Government Level in Katsina State, Nigeria. The population of the study was made up of all the 34 Local Governments in Katsina State. A Stratified Sampling Techniques was used to selects six Local Governments from the population. Two Local Governments were selected each from the three senatorial zones of the State. One hundred and twenty (120) copies of questionnaire were distributed to the respondents, twenty (20) copies of questionnaire for each of the sampled Local Government. The secondary data was obtained from the approved budget of the local governments (2009-2014) and the reports from the office of the Auditor General of the local government, Katsina State. Descriptive statistics, Chi-Square (X 2 ) Test and Paired Samples T-test were used as the techniques for data analysis. It was found out that Local governments in Katsina State do not make effective utilization of financial resources. This means t...
A strategy is a tactical plan to achieve a goal under a condition of a predetermined process. It ... more A strategy is a tactical plan to achieve a goal under a condition of a predetermined process. It also denotes a system of developing, formulating and finding a process that could ensure a lasting solution when successfully implemented. The objective of this study is to understand the strategy needed for internal audit function in tax administration. In order to achieve this, a case study methodology was used on Federal Inland Revenue Service Nigeria (FIRS). Qualitative research paradigm was used to collect data from nine internal auditors using the face-to-face interview method. The collected data were analysed using Nvivo10 qualitative software for thematic analysis. Findings of the study show that strategies of internal auditing in tax administration include ensuring adequate human resource that could perform the audit function skillfully, and comprehensive audit work plan to guide the auditing process. In addition, selecting a suitable approach to actualize the audit work plan is...
In the recent past, organizations rely solely on financial indicators as the measures of performa... more In the recent past, organizations rely solely on financial indicators as the measures of performance. There is the need to integrate financial and non-financial measures of performance and identify key performance measures that link measurements to strategy and Balanced Scorecard is one of such tools because it measures the performance of an organisation from four different angles, namely financial, customer, internal process and learning and growth. However, there appears to be no significant documentation on the translation of BSC in any Nigerian firm that could serve as a reference point for replication in spite of the success already recorded by companies that have implemented it. This study aimed at examining the relevance of BSC as a technique for assessing performance in the Nigerian banking industry. The population of the study comprised the entire 21 banks operating in Gombe State, Nigeria. A judgmental sampling technique was adopted to arrived at the sample of eleven (11) ...
GLOBAL JOURNAL OF APPLIED, MANAGEMENT AND SOCIAL SCIENCES, 2015
The study assesse d the effect of corporate taxation on dividend policy of listed consumer goods ... more The study assesse d the effect of corporate taxation on dividend policy of listed consumer goods companies in Nigeria over the periods 2009 to 2013. Data for the study was collected from the annual reports and accounts of the companies. A panel data methodology was employed specifically using pooled OLS, fixed effect and random effect regression methods in analyzing the data. The paper demonstrate d that corporate taxation and board structure have no effect on dividend policy of firms. The results also imply that performance of companies is an important determinant of dividend policy. The study recommend ed that companies should pay more attention to other determinants of dividend like liquidity and not to concentrate on taxes since taxes have no effect on dividend policy. Also companies should devise other means of generating funds by expansion and diversification in order to boost their earnings.
Microfinance banks provide a wide range of financial services such as deposits, loans, savings, p... more Microfinance banks provide a wide range of financial services such as deposits, loans, savings, payment services, money transfers, and insurance to the poor and low-income individuals, households and groups of persons who do not have access to conventional deposit money banks. The aim of this study is to assess the role of microfinance banks in alleviating poverty in Gombe State, Nigeria. Data for the study were collected through primary sources from the customers of the three (3) sampled microfinance banks operating in Gombe state through the administration of questionnaire. A total of three hundred and ninety-three (393) copies of the questionnaire were distributed to the respondents. Any mean above the cutoff point indicates agreement with the statement and vise-versa. Also, the inferential statics used is chi-square test to test the stated hypotheses of the study. From the analysis of the data the study concluded that the poor at the grass root level benefits from the services of microfinance banks in Gombe state. Also, the level of outreach and quality of services provided by microfinance banks in Gombe state is commendable. Likewise, the services of the microfinance banks have positive impacts on the micro business performance. It was therefore, recommended that more awareness programs should be organise to encourage people to access more credit facilities from the bank. Also, businesses should be encouraged to patronize the services of microfinance bank as evidence provides that services rendered by microfinance banks make business to generate more profit.
International Journal of Accounting & Finance (IJAF), 2020
This study assessed the extent to which corporate governance shape the relationship between corpo... more This study assessed the extent to which corporate governance shape the relationship between corporate social responsibility (CSR) and financial performance of listed non-financial services companies in Nigeria. The study used ex-post facto research design and secondary data were obtained from the reports of the twenty three (23) sampled listed non-financial services companies from 2008 to 2017. The sample was arrived at using census sampling technique where all the elements were used for the study. The data for the study were analyzed using descriptive statistics, correlation and GLS Fixed Effect with the aid of Stata Version 14.0. Robustness tests such as multicollinearity test, heteroscedasticity test, normality test of residuals, Hausman specification test and F-Test were conducted to validate the results. The result showed the coefficients and t-values for size of the board as (ceff=0.0002, t=0.07), for independence of the board as (ceff=0.02, t=0.43) and for gender diversity of the board as (ceff=0.04, t=0.94), which implied that size of the board, gender diversity of the board and independence of the board all have positive and insignificant moderating effects on the association of CSR and firms' financial performance. This study recommends that SEC should integrate CSR reporting into CG reforms in Nigeria and that management of listed companies in Nigeria should put machinery in place which would address the concerns of stakeholders regarding the environment, ethics, health and safety, as well as, establish committees on CSR activities as a strategic component of the firm's broader CG strategy.
International Journal of Business and Technopreneurship, 2020
A strategy is a tactical plan to achieve a goal under a condition of a predetermined process. It ... more A strategy is a tactical plan to achieve a goal under a condition of a predetermined process. It also denotes a system of developing, formulating and finding a process that could ensure a lasting solution when successfully implemented. The objective of this study is to understand the strategy needed for internal audit function in tax administration. In order to achieve this, a case study methodology was used on Federal Inland Revenue Service Nigeria (FIRS). Qualitative research paradigm was used to collect data from nine internal auditors using the face-to-face interview method. The collected data were analysed using Nvivo10 qualitative software for thematic analysis. Findings of the study show that strategies of internal auditing in tax administration include ensuring adequate human resource that could perform the audit function skillfully, and comprehensive audit work plan to guide the auditing process. In addition, selecting a suitable approach to actualize the audit work plan is also a crucial auditing strategy. The study recommends that FIRS shall provide all the material and human resources needed to support the internal audit strategy development for effective function of auditing. This, in turn, could assist internal audit activities in improving tax administration performance.
This study examines whether Cost of Capital (COC) impact on the financial performance of listed n... more This study examines whether Cost of Capital (COC) impact on the financial performance of listed nonfinancial firms in Nigeria for the period 2015-2019. Using two-step system Generalised Method of Moments (GMM), the study found a significant and negative impact of COC on financial performance of listed non-financial firms in Nigeria. This is because profitable firms have the opportunity to finance new investments with retained earnings rather than through a new debt and/or equity issuance. Also, raising the debt level of a firm may result in an increase in distress costs, and as such reduces benefits from the tax shield which consequently result in decline in the value of the firm. Thus, the finding of this study is in line with the pecking order theory of capital structure. The findings, which add to the existing knowledge with regard to the impact of COC on financial performance, should be interesting to the providers of finance. This is because the study helps them to make the decision whether or not to invest in these firms. Since they want their money to be invested where there will be maximum return. However, this result only hold for emerging economies like Nigeria where analyst cash flow forecast is difficult to predict. This is due to the underdeveloped nature of the capital market.
This study examines whether Cost of Capital (COC) impact on the financial performance of listed n... more This study examines whether Cost of Capital (COC) impact on the financial performance of listed non-financial firms in Nigeria for the period 2015-2019. Using two-step system Generalised Method of Moments (GMM), the study found a significant and negative impact of COC on financial performance of listed non-financial firms in Nigeria. This is because profitable firms have the opportunity to finance new investments with retained earnings rather than through a new debt and/or equity issuance. Also, raising the debt level of a firm may result in an increase in distress costs, and as such reduces benefits from the tax shield which consequently result in decline in the value of the firm. Thus, the finding of this study is in line with the pecking order theory of capital structure. The findings, which add to the existing knowledge with regard to the impact of COC on financial performance, should be interesting to the providers of finance. This is because the study helps them to make the de...
International Journal of Accounting and Finance (IJAF), 2020
This study examined the effects of board attributes on tax planning of listed non-financial compa... more This study examined the effects of board attributes on tax planning of listed non-financial companies in Nigeria. It aims at finding out using quantitative research method, board attributes that increase tax planning, thus, reducing tax liability of listed non-financial firms in Nigeria. Data for the study were collected from the annual reports and accounts of the sampled companies for a period of ten years (2008 to 2017). The data collected were analysed using descriptive statistics to provide summary statistics for the variables, and correlation analysis was carried out using Pearson product-moment correlation to determine the relationship between the dependent and independent variables. Regression analysis was also conducted. The study revealed that board independence has a significant negative effect on tax planning; foreign directorship has a non-significant negative effect, while gender diversity, board size, and board meetings have non-significant positive effect on tax planning in listed non-financial companies in Nigeria. In addition, profitability has a significant positive effect on tax planning as leverage depicts significant negative effect on tax planning. The study is limited to non-financial companies in Nigeria; hence, the findings are useful to the stakeholders of those companies. In addition, the findings can be generalized to emerging economies that have similar economy, politics, and code of corporate governance with Nigeria. The findings imply that having independent and foreign directors on the board of directors increase tax planning, thereby reducing tax liabilities. Therefore, independent and foreign directors have similar ideas towards tax planning. Also, board size, gender diversity, and board meetings do not contribute towards tax reduction via tax planning activities. Findings from this study contribute to the literature on corporate governance and tax planning in Nigeria by encouraging management of listed firms to be more proactive in tax planning. Theoretically, the study is significant for its contribution to agency and stakeholder theories as they explain relationship between board attributes and tax planning.
This study investigated the impact of cash conversion cycle on the value of listed oil and gas co... more This study investigated the impact of cash conversion cycle on the value of listed oil and gas companies in Nigeria, with the specific objectives of determining its impact on share price and Tobin’s Q. To achieve this, panel data is applied with the use of descriptive, correlational and explanatory research design. The study hypothesised two research hypotheses and generalised least square regression is used in analysing the collected data that were extracted from the annual reports and accounts of eight listed oil and gas companies in Nigeria for the period 2006-2019. Share price and Tobin’s Q were used as proxies for value of firm. The study found that cash conversion cycle has a negative and significant impact on the value of listed oil and gas companies in Nigeria. In view of this finding, the study recommended, among others, that the cash conversion cycle should be reduced as reasonably possible below 365 days when the economic condition is good and vice versa when the economic...
The main objectives of microfinance schemes to alleviate poverty and to enable the poor to empowe... more The main objectives of microfinance schemes to alleviate poverty and to enable the poor to empower themselves are in line with the Islamic economic principles of justice. However, the conventional microfinance schemes and operations based on interest (riba) are prohibited in Islam and thus, cannot be used by and for the Muslims. Hence, various Islamic financing schemes offered by Islamic Microfinance banks have the salient features and characteristics that can contribute towards a more ethical economic and financial development of the poor and micro entrepreneurs. The aim of this study is to examine the views of both the management and the clients of Tijarah Microfinance Bank; Bauchi, Nigeria on its role in alleviating poverty and to find out whether there is significance difference between the views of the two categories of respondents. The population of the study consists of all the clients and the management staff of Tijarah Microfinance Bank Limited, Bauchi. There are eleven (11...
Audit failures such as in the case of Enron Corporation, WorldCom Corporation, Global Crossing, I... more Audit failures such as in the case of Enron Corporation, WorldCom Corporation, Global Crossing, ImClone Systems Incorporation and Tyco International have raised concerns on the auditors' ability in discharging their duties. Emergent economies are not exceptional from large corporate failures; for instance the corporate failures in the Nigerian financial sector in the early 1990s brought auditors into sharp focus and caused the public to question the role of accountants and auditors. This study assessed the impact of audit fees on audit quality of listed conglomerates in Nigeria over the periods 2004 to 2015. Data for the study were collected from the annual reports and accounts of the companies. A panel data was employed specifically using, OLS and Random Effect regressions. The paper observed that both audit fees and audit firm size have positive impact on company audit quality. The paper suggested the need for regulatory bodies in line with best practices to look critically in...
This study assessed the level of public expenditure management at the Local Government Level in K... more This study assessed the level of public expenditure management at the Local Government Level in Katsina State, Nigeria. The population of the study was made up of all the 34 Local Governments in Katsina State. A Stratified Sampling Techniques was used to selects six Local Governments from the population. Two Local Governments were selected each from the three senatorial zones of the State. One hundred and twenty (120) copies of questionnaire were distributed to the respondents, twenty (20) copies of questionnaire for each of the sampled Local Government. The secondary data was obtained from the approved budget of the local governments (2009-2014) and the reports from the office of the Auditor General of the local government, Katsina State. Descriptive statistics, Chi-Square (X 2 ) Test and Paired Samples T-test were used as the techniques for data analysis. It was found out that Local governments in Katsina State do not make effective utilization of financial resources. This means t...
The importance of finance to agricultural development cannot be overemphasized. Owing to the fact... more The importance of finance to agricultural development cannot be overemphasized. Owing to the fact that the agricultural sector is an important engine of National economic growth, the Federal Government has embarked upon series of programs and policies to transform the productive capacity of the sector. But the sector's performance remains skimpy. The aim of this study is to ascertain the factors bedeviling financing the agricultural sector. This study employed a content analysis method of research and used a literature based method for analysis. It was found among others that; low level of monitoring and evaluation of financial policies, inadequate qualified personnel to manage financial resources devoted for agricultural investment, policy inconsistency and corruption are the main obstacles to the success of financial commitments to the agricultural sector. The paper recommends that government should ensure effective monitoring and evaluation of agricultural policies instead of...
This study assessed the level of public expenditure management at the Local Government Level in K... more This study assessed the level of public expenditure management at the Local Government Level in Katsina State, Nigeria. The population of the study was made up of all the 34 Local Governments in Katsina State. A Stratified Sampling Techniques was used to selects six Local Governments from the population. Two Local Governments were selected each from the three senatorial zones of the State. One hundred and twenty (120) copies of questionnaire were distributed to the respondents, twenty (20) copies of questionnaire for each of the sampled Local Government. The secondary data was obtained from the approved budget of the local governments (2009-2014) and the reports from the office of the Auditor General of the local government, Katsina State. Descriptive statistics, Chi-Square (X 2 ) Test and Paired Samples T-test were used as the techniques for data analysis. It was found out that Local governments in Katsina State do not make effective utilization of financial resources. This means t...
A strategy is a tactical plan to achieve a goal under a condition of a predetermined process. It ... more A strategy is a tactical plan to achieve a goal under a condition of a predetermined process. It also denotes a system of developing, formulating and finding a process that could ensure a lasting solution when successfully implemented. The objective of this study is to understand the strategy needed for internal audit function in tax administration. In order to achieve this, a case study methodology was used on Federal Inland Revenue Service Nigeria (FIRS). Qualitative research paradigm was used to collect data from nine internal auditors using the face-to-face interview method. The collected data were analysed using Nvivo10 qualitative software for thematic analysis. Findings of the study show that strategies of internal auditing in tax administration include ensuring adequate human resource that could perform the audit function skillfully, and comprehensive audit work plan to guide the auditing process. In addition, selecting a suitable approach to actualize the audit work plan is...
In the recent past, organizations rely solely on financial indicators as the measures of performa... more In the recent past, organizations rely solely on financial indicators as the measures of performance. There is the need to integrate financial and non-financial measures of performance and identify key performance measures that link measurements to strategy and Balanced Scorecard is one of such tools because it measures the performance of an organisation from four different angles, namely financial, customer, internal process and learning and growth. However, there appears to be no significant documentation on the translation of BSC in any Nigerian firm that could serve as a reference point for replication in spite of the success already recorded by companies that have implemented it. This study aimed at examining the relevance of BSC as a technique for assessing performance in the Nigerian banking industry. The population of the study comprised the entire 21 banks operating in Gombe State, Nigeria. A judgmental sampling technique was adopted to arrived at the sample of eleven (11) ...
GLOBAL JOURNAL OF APPLIED, MANAGEMENT AND SOCIAL SCIENCES, 2015
The study assesse d the effect of corporate taxation on dividend policy of listed consumer goods ... more The study assesse d the effect of corporate taxation on dividend policy of listed consumer goods companies in Nigeria over the periods 2009 to 2013. Data for the study was collected from the annual reports and accounts of the companies. A panel data methodology was employed specifically using pooled OLS, fixed effect and random effect regression methods in analyzing the data. The paper demonstrate d that corporate taxation and board structure have no effect on dividend policy of firms. The results also imply that performance of companies is an important determinant of dividend policy. The study recommend ed that companies should pay more attention to other determinants of dividend like liquidity and not to concentrate on taxes since taxes have no effect on dividend policy. Also companies should devise other means of generating funds by expansion and diversification in order to boost their earnings.
Microfinance banks provide a wide range of financial services such as deposits, loans, savings, p... more Microfinance banks provide a wide range of financial services such as deposits, loans, savings, payment services, money transfers, and insurance to the poor and low-income individuals, households and groups of persons who do not have access to conventional deposit money banks. The aim of this study is to assess the role of microfinance banks in alleviating poverty in Gombe State, Nigeria. Data for the study were collected through primary sources from the customers of the three (3) sampled microfinance banks operating in Gombe state through the administration of questionnaire. A total of three hundred and ninety-three (393) copies of the questionnaire were distributed to the respondents. Any mean above the cutoff point indicates agreement with the statement and vise-versa. Also, the inferential statics used is chi-square test to test the stated hypotheses of the study. From the analysis of the data the study concluded that the poor at the grass root level benefits from the services of microfinance banks in Gombe state. Also, the level of outreach and quality of services provided by microfinance banks in Gombe state is commendable. Likewise, the services of the microfinance banks have positive impacts on the micro business performance. It was therefore, recommended that more awareness programs should be organise to encourage people to access more credit facilities from the bank. Also, businesses should be encouraged to patronize the services of microfinance bank as evidence provides that services rendered by microfinance banks make business to generate more profit.
International Journal of Accounting & Finance (IJAF), 2020
This study assessed the extent to which corporate governance shape the relationship between corpo... more This study assessed the extent to which corporate governance shape the relationship between corporate social responsibility (CSR) and financial performance of listed non-financial services companies in Nigeria. The study used ex-post facto research design and secondary data were obtained from the reports of the twenty three (23) sampled listed non-financial services companies from 2008 to 2017. The sample was arrived at using census sampling technique where all the elements were used for the study. The data for the study were analyzed using descriptive statistics, correlation and GLS Fixed Effect with the aid of Stata Version 14.0. Robustness tests such as multicollinearity test, heteroscedasticity test, normality test of residuals, Hausman specification test and F-Test were conducted to validate the results. The result showed the coefficients and t-values for size of the board as (ceff=0.0002, t=0.07), for independence of the board as (ceff=0.02, t=0.43) and for gender diversity of the board as (ceff=0.04, t=0.94), which implied that size of the board, gender diversity of the board and independence of the board all have positive and insignificant moderating effects on the association of CSR and firms' financial performance. This study recommends that SEC should integrate CSR reporting into CG reforms in Nigeria and that management of listed companies in Nigeria should put machinery in place which would address the concerns of stakeholders regarding the environment, ethics, health and safety, as well as, establish committees on CSR activities as a strategic component of the firm's broader CG strategy.
International Journal of Business and Technopreneurship, 2020
A strategy is a tactical plan to achieve a goal under a condition of a predetermined process. It ... more A strategy is a tactical plan to achieve a goal under a condition of a predetermined process. It also denotes a system of developing, formulating and finding a process that could ensure a lasting solution when successfully implemented. The objective of this study is to understand the strategy needed for internal audit function in tax administration. In order to achieve this, a case study methodology was used on Federal Inland Revenue Service Nigeria (FIRS). Qualitative research paradigm was used to collect data from nine internal auditors using the face-to-face interview method. The collected data were analysed using Nvivo10 qualitative software for thematic analysis. Findings of the study show that strategies of internal auditing in tax administration include ensuring adequate human resource that could perform the audit function skillfully, and comprehensive audit work plan to guide the auditing process. In addition, selecting a suitable approach to actualize the audit work plan is also a crucial auditing strategy. The study recommends that FIRS shall provide all the material and human resources needed to support the internal audit strategy development for effective function of auditing. This, in turn, could assist internal audit activities in improving tax administration performance.
This study examines whether Cost of Capital (COC) impact on the financial performance of listed n... more This study examines whether Cost of Capital (COC) impact on the financial performance of listed nonfinancial firms in Nigeria for the period 2015-2019. Using two-step system Generalised Method of Moments (GMM), the study found a significant and negative impact of COC on financial performance of listed non-financial firms in Nigeria. This is because profitable firms have the opportunity to finance new investments with retained earnings rather than through a new debt and/or equity issuance. Also, raising the debt level of a firm may result in an increase in distress costs, and as such reduces benefits from the tax shield which consequently result in decline in the value of the firm. Thus, the finding of this study is in line with the pecking order theory of capital structure. The findings, which add to the existing knowledge with regard to the impact of COC on financial performance, should be interesting to the providers of finance. This is because the study helps them to make the decision whether or not to invest in these firms. Since they want their money to be invested where there will be maximum return. However, this result only hold for emerging economies like Nigeria where analyst cash flow forecast is difficult to predict. This is due to the underdeveloped nature of the capital market.
Proceedings of 32nd The IIER International Conference, Dubai, UAE, 2015
This paper is aimed at assessing the impact of accounting system on the performance of small and ... more This paper is aimed at assessing the impact of accounting system on the performance of small and medium enterprises (SMEs) in Bauchi Metropolis, Nigeria. This paper used a survey method of data collection. The population of the study consists of all the existing sixty six (66) Small and Medium Enterprises listed on the list of registered SMEs with the SMEs Directorate of Bauchi State Ministry of Commerce and Industry as at December, 2014 that engaged in manufacturing/production activities only. The stratified random sampling technique was employed to arrive at the sample size of sixty (60) SMEs from six groups (Food and Beverages, Printing/Paper Product, Metal and Aluminum Products, Non Metallic Products, Wood and Wood Products and Farm Products). The 4 point Likert Scale ranging from 4 (Strongly Agreed) to 1 (Strongly Disagreed) was used. The cutoff point of 2.5 was used (i.e 4+3+2+1/4), any mean above this indicates agreement with the statement and vise-versa. The data collected were analyzed using descriptive statistics where mean rating was used as appropriate. It was established that even though proper accounting system enhances the level of profitability and financial strength of SMEs in Bauchi Metropolis, most of them do not keep proper accounting record. The paper recommends that to ensure a sound accounting system, SMEs operators should compelled themselves, to employ qualified accounting personnel, that will lead to growth and profitability of their enterprises.
Accounting Conference (IMAC) 10 Revisiting Business and Accounting Perspective in New Era , 2021
This study examines whether Cost of Capital (COC) impact on non-financial firms’ financial perfor... more This study examines whether Cost of Capital (COC) impact on non-financial firms’ financial performance in Nigeria for the period 2015-2019. Not considering COC could lead to future failure of a company. Companies can face devastating losses by underestimating their COC. Management used COC to recognise and choose projects, strategies, deals and portfolios that will effectively add value to the company and its shareholders. Players and institutions in stock markets, like investment funds, banks and other financial institutions, have the incentives to suitably incorporate the objective of optimising COC. Evaluating Nigeria’s capital market which is an avenue for sourcing long-term resources to finance long-term scheme is underdeveloped compared to its foreign equivalent. Therefore, the main responsibility of efficient gathering of capital or mobilisation of fund from the surplus units of the economy and successfully channeling it to the deficit sector so as to meet up with its long-term capital needs has not been carried out prudently. For example, Nigeria’s capital market is very illiquid, few quoted firms with low volume of transactions and with low market capitalisation which consequently result to increase in the COC. In spite of the increasing literature, the COC-financial performance nexus remained a knowledge gap as most existing studies focused on foreign countries with few conducted in Nigeria hence the need for this study.
This work aimed at investigating the perception of banks on the use of Balanced Scorecard (BSC) (... more This work aimed at investigating the perception of banks on the use of Balanced Scorecard (BSC) (i.e financial, customer, internal process and learning and growth perspectives) as performance assessment technique in the Nigerian banking industry. The population of the study comprised the entire 21 Banks listed on the Nigerian Stock Exchange as at December, 2011. The study employed a survey research design to collect data from a sample of eleven (11) banks. A judgemental/purposive sampling technique was adopted to arrive at the sample of the study. A total of fifty five (55) copies of questionnaire were distributed to the executive staff of the sampled banks (5 each to every selected bank) out of which forty three (43) copies of questionnaire were completed and returned. Descriptive statistics and Kruskal Wallis Test were used as the techniques for data analysis. The study concluded that Nigerian bank managers are still relying heavily on the use of financial measures of performance followed by customer measures of performance. This implies that they are utilizing financial, as well as, non-financial measures for their performance evaluation technique, without any formal recourse to the BSC. It was rcommended that Nigerian banks should incorporate the four perspectives of BSC in their performance measurement systems. This will check the skewness of the CAMEL’s rating approach (C = capital adequacy, A = asset quality, M = management quality, E = earning quality and L = liquidity), which uses financial measures to assess banks performance in Nigeria. Also, given the importance of performance evaluation for managers, stockholders and investors, it is suggested that the Nigerian Stock Exchange (NSE) and the Central Bank of Nigeria (CBN) should issue a policy guideline regarding the adoption of BSC as performance assessment technique for the Nigerian banks.
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