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Diversity-of-Board and Environmental Reporting of Listed Manufacturing Companies in Nigeria: The Moderating Effect of Audit Committee
Salvation Joshua Selven,
Nyor Terzungwe,
Agbi Eniola Samuel,
Joshua Gambo Samuel,
Adzor Ibiamke,
Mustapha Lateef,
Danazumi Elisha Bako
Issue:
Volume 10, Issue 1, January 2022
Pages:
1-18
Received:
24 November 2021
Accepted:
29 December 2021
Published:
8 January 2022
Abstract: The 2018 Nigerian Code of Corporate Governance demands responsible behaviour and environmental sensitivity from all companies in Nigeria. However, the extent of environmental reporting amongst firms in Nigeria is still low and not a listing requirement despite the trend of disclosure practices by firms around the world. As a step towards addressing this shortcoming, the objective of this paper is to examine the effect of diversity-of-board on environmental reporting of listed manufacturing companies in Nigeria, and further explores the moderating effect of audit committee. Board size, Board independence and directors share ownership was used as a composite index to proxy for Diversity-of-board and Environmental reporting was graded using ISO14031 index. The study has a population of 61 listed manufacturing firms and a sample size of 36 firms which was arrived at using stratified sampling criteria. Through content analysis, secondary data was collected from the annual report of the sampled companies from the period 2002 to 2019. Using descriptive statistics and linear multiple regression, findings from this study revealed that before moderation, diversity-of-board has no significant effect on environmental reporting (t= -1.80, P˂ 0.001). However, the study found that audit committee significantly moderates the effect of diversity-of-board on environmental reporting (t= -3.67, P˂ 0.001). Since the moderating effect of audit committee on diversity-of-board and environmental reporting is negative the study concludes that both diversity-of-board and audit committee do not strengthen environmental reporting. The study recommended that the financial reporting council of Nigeria should include environmental committee as one of the mandatory committee in the code of corporate governance who will specifically handle environmental issues.
Abstract: The 2018 Nigerian Code of Corporate Governance demands responsible behaviour and environmental sensitivity from all companies in Nigeria. However, the extent of environmental reporting amongst firms in Nigeria is still low and not a listing requirement despite the trend of disclosure practices by firms around the world. As a step towards addressing...
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Tax Revenue Collections and Health Care Infrastructural Development in Nigeria
Lateef Olumide Mustapha,
Lasisi Isiaka Olalekan,
Adegboye Damilola,
Ajepe Ayobami,
Isife Bibian Ngozi
Issue:
Volume 10, Issue 1, January 2022
Pages:
19-24
Received:
9 December 2021
Accepted:
28 December 2021
Published:
8 January 2022
Abstract: The serious challenges faced by the health sector in Nigeria in term of infrastructural decay in recent time are worrisome issues for the stakeholders in the health sectorthe degree of neglect in the sector couple with sustainable revenue sources like Taxation available for government to finance this sector infrastructure called for attention of the stakeholders. This study therefore assesses effect of tax revenue collections on health care infrastructural development in nation from 2013 to 2020. The study employed secondary data from CBN Statistical Bulletin and the office of Federal Inland Revenue for analysis. Revenue Collections from Company income Tax (CIT), petroleum Profit Tax (PPT), Education Tax (EDT) and Value Added tax (VAT) were used as proxies for Tax revenue collections while Government expenditure on health infrastructure was adopted as proxy for Health Care Infrastructural Development. Multiple linear regression method was adopted for data analysis. The paper establishesthat PPT and VAT strongly influenced infrastructural development in the health care sector in Country. The study therefore recommends effective and efficient transparent collection of these taxes and political will to transparently spending this revenue towards boasting the health care development in the Nigeria.
Abstract: The serious challenges faced by the health sector in Nigeria in term of infrastructural decay in recent time are worrisome issues for the stakeholders in the health sectorthe degree of neglect in the sector couple with sustainable revenue sources like Taxation available for government to finance this sector infrastructure called for attention of th...
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Government Revenue and Economic Performance of Nigerian Economy (2000 – 2019)
Issue:
Volume 10, Issue 1, January 2022
Pages:
25-29
Received:
17 December 2021
Accepted:
12 January 2022
Published:
18 January 2022
Abstract: The government of Nigeria has of recent encountered dwindling revenue generation due to the global economic crisis and COVID-19 pandemic, thus making it difficult for the government to finance its expenditures and subsequently not achieving the desired economic growth. This paper therefore examined the correlation between government revenue and economic performance of the Nigerian economy. The paper employed a mix of descriptive cum historical approach. Time series data spanning 2000 - 2019 were obtained and used. The sources of data were the Central Bank of Nigeria (CBN), National Bureau of Statistics (NBS) and Federal Ministry of Finance. Data were subjected to analysis and testing by means of Ordinary Least Square (OLS) multiple regression technique. Results revealed that significant positive relationship exists between the explanatory variables and explained variable. Arising from the findings, the paper made recommendations which include, among others, government’s intensification of its policy of economic diversification from the oil sector to non-oil sectors so as to increase and sustain non-oil revenue; formulate enabling tax policy that will increase tax revenue as well as strengthening the anti-corruption institutions with a view to alleviating corruption which constitute monumental leakages in the revenue generation process.
Abstract: The government of Nigeria has of recent encountered dwindling revenue generation due to the global economic crisis and COVID-19 pandemic, thus making it difficult for the government to finance its expenditures and subsequently not achieving the desired economic growth. This paper therefore examined the correlation between government revenue and eco...
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An Assessment of Tax Digitalisation and Tax Compliance Relationship in Cameroon: The Mediating Role of Behavioural Intentions
Michael Forzeh Fossung,
Chi Njoya Warah
Issue:
Volume 10, Issue 1, January 2022
Pages:
30-43
Received:
26 December 2021
Accepted:
18 January 2022
Published:
28 January 2022
Abstract: The main objective of the study is to investigate the relationship between digitalisation and the level of tax compliance in Cameroon. The study used a causal research design with a sample size of 200 tax payers who used the online tax system and the sampling technique was the purposive sampling technique of companies and business familiar with the online tax system. The study used primary data gotten with the use of a five-point Likert scale questionnaire. The relationship between tax digitalisation and tax compliance with behavioural intentions as the mediator was analysed using Partial Least Square-Structural Equation Modeling (PLS-SEM). The results of the study revealed that, effort expectations and accessibility and reliability have a positive and significant relationship with tax compliance while the cost involved in using the e-tax system had an insignificant relationship with tax compliance. Effort expectations was partially mediated by the tax payers’ behavioural intentions. We therefore recommend that the government should make the site to be user friendly that is very easy to use and accessible by all Cameroonian tax payers.
Abstract: The main objective of the study is to investigate the relationship between digitalisation and the level of tax compliance in Cameroon. The study used a causal research design with a sample size of 200 tax payers who used the online tax system and the sampling technique was the purposive sampling technique of companies and business familiar with the...
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Does Cost Stickiness Affect the Cash Dividend Policy: Empirical Evidence from China
Liu Lin,
Wang Jinfeng,
Cao Rui
Issue:
Volume 10, Issue 1, January 2022
Pages:
44-57
Received:
27 December 2021
Accepted:
19 January 2022
Published:
28 January 2022
Abstract: The dividend policy has long been of interest among researchers that study financial management and corporate finance. Previous literatures mainly analyzed based on the agency theory, free cash flow theory, major shareholder benefit transfer channel or others, the impact of cost stickiness has not been considered in the framework. Using the data of listed companies in China from 2007 to 2017, this paper examines the effect of cost stickiness on cash dividend policy based on managers’ self-interest. The result shows that firms with stickier cost pay lower cash dividends than their peers. Corporate governance will impact the relation between cost stickiness and cash dividend payouts: when corporate governance is worse, the impact of cost stickiness on cash dividend payouts is great as managers of firms with more cash holdings are willing to keep cash for self-use rather than pay dividends. Further, this paper provides evidence that cost stickiness affects cash dividends by worsening corporate governance. This paper not only contributes to accounting literature on cost stickiness, but also sheds new light on the determinants of cash dividends policy.
Abstract: The dividend policy has long been of interest among researchers that study financial management and corporate finance. Previous literatures mainly analyzed based on the agency theory, free cash flow theory, major shareholder benefit transfer channel or others, the impact of cost stickiness has not been considered in the framework. Using the data of...
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Corporate Sustainable Growth in a Pandemic Period: The Role of Growth Opportunities
Otuya Sunday,
Akpoyibo Godspower
Issue:
Volume 10, Issue 1, January 2022
Pages:
58-63
Received:
22 November 2021
Accepted:
9 December 2021
Published:
9 February 2022
Abstract: The outbreak and spread of the Corona virus disease 2019 (COVID-19) has brought with it uncertainty in business environment. The COVID-19 pandemic which has attracted considerable global attention has negatively affected business operations and national economies. To this end, this study examined the role of growth opportunities in mitigating the negative effect of COVID-19 pandemic on corporate sustainable growth. The study adopted an ex post facto research design and obtained data from financial statements of manufacturing companies for pre- and post-COVID-19 periods. The population of the study consists of all 76 manufacturing companies listed on the Nigeria Stock Exchange (NSE). The Hierarchical Linear Model (HLM) Regression was used as the method of data analysis. Findings of the study show that COVID-19 pandemic has had a significant negative effect on sustainable growth of listed manufacturing companies in Nigeria. The HLM analysis also indicated that higher growth opportunities mitigate the negative effects of COVID-19 on corporate sustainable growth. The finding further reveals that market intensity has a positive and significant effect on corporate sustainable growth. The study recommends that companies should exploit growth opportunities and increase marketing and sales promotions to survive in the post COVID-19 period.
Abstract: The outbreak and spread of the Corona virus disease 2019 (COVID-19) has brought with it uncertainty in business environment. The COVID-19 pandemic which has attracted considerable global attention has negatively affected business operations and national economies. To this end, this study examined the role of growth opportunities in mitigating the n...
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Factors Affecting the Financial Performance: A Case of Microfinance Institutions in Ethiopia
Mulugeta Abuye Ertiro,
Leyla Jemal Mohammed
Issue:
Volume 10, Issue 1, January 2022
Pages:
64-77
Received:
8 January 2022
Accepted:
26 January 2022
Published:
16 February 2022
Abstract: Micro finance institutions in Ethiopia have shown a remarkable qualitative and quantitative growth since the early 1990s. It is increasingly understood that adequate financial services such as loans, saving products, insurance and payment services for the broad population, poor farmers and MSEs, promote quality and productivity. Thus, this study examined and presented the most prominent factors of financial performance of microfinance institutions in Ethiopia by using panel data. From a total population of 38 MFIs operating in Ethiopia; the study selected 17 microfinance institutions which are operating in the period 2011 to 2018. The fixed effect model was used after running a Hausman test. ROA was used as a proxy for the financial performance measurement and the study used the internal and external factors. Based on the regression analysis, the internal variable like age of microfinance institutions was showed to be significant variables with positive relationship to ROA and other internal variables such as capital to asset ratio and debt to equity ratio were found to be statistically negatively significant. But operational efficiency, portfolio quality and size of microfinance institutions were found to have insignificant effect on ROA. On the other hand, the only external variable market concentration was insignificant factors of microfinance institution in the study period. Based on the regression outcome, the study concluded that the management of the microfinance institutions may develop sound mobilizing savings campaign strategy in order to collect adequate savings from depositors and mostly operate on membership contribution to enhance MFI’s capital for ensuring unexpected losses and also MFI managers should develop the efficiency of operations from year to year.
Abstract: Micro finance institutions in Ethiopia have shown a remarkable qualitative and quantitative growth since the early 1990s. It is increasingly understood that adequate financial services such as loans, saving products, insurance and payment services for the broad population, poor farmers and MSEs, promote quality and productivity. Thus, this study ex...
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