This study examined the effect of adopting International Public Sector Accounting Standards (IPSAS) on accountability in public sector financial reporting in Nigeria, using the perceptions of accounting personnel (AP), academics (AA, and auditors (AU). A sample of 130 respondents was drawn from a population of 193 AU, AP, and AA within Benue State. The Chi-Square goodness of fit test, Kruskal Wallis H test, Mann-Whitney U test, and Cohen effect size were used in data analysis. The study found that IPSAS adoption in Nigeria would improve accountability and decision making in the public sector. The study also found that significant differences existed between AP, AA and AU on the effect of IPSAS adoption on Nigeria's public sector financial accountability. The study, therefore, recommended that the Federal Government should not relent towards IPSAS implementation in Nigeria since they would enhance accountability and decision making. Furthermore, concerted efforts should be made by the federal, state and local governments to educate the populace on what IPSAS entails in terms of financial accountability in the public sector.
Using data obtained from a sample of 212 respondents drawn from professional and academic accountants in Benue State of Nigeria, we identify, in order of severity, the main consequences of financial statement fraud (FSF) from a developing country perspective. We also ascertain whether significant differences exist in the views of the respondents on what they consider as the major consequences of FSF. The results of our data analyses which document, in order of severity, loss of job, drop in market capitalization and criminal prosecution as the main consequences of FSF are consistent with our a priori expectations in a developing country. The results also reveal significant differences in the rankings of the consequences of FSF by professional and academic accountants, validating the need for bridging the knowledge gap between the dyad on the phenomenon of interest.
This study ascertained the determinants of unethical financial reporting, exploring the views of professional and academic accountants in Nigeria. The study utilized the survey design with a sample of 212 respondents drawn from a population made of professional and academic accountants resident in Benue State of Nigeria. The postulated hypotheses were tested using multinomial logistic regression, Kruskal-Wallis H and Chi-square tests, and Mann-Whitney U test. The empirical results evidenced, in order of severity, "weak corporate governance", "attempts to conceal deteriorating financial position", and "compensation and bonus incentives" as the main determinants of unethical financial reporting. The results, however, suggested significant differences in the views of respondent groups on the identified determinants of unethical financial reporting with manifest implications on how policies aimed at addressing the phenomenon of interest would be initiated. The major recommendation of the study is the urgent need to incorporate good corporate governance systems in the overall strategies of corporations in order to curtail incidences of unethical financial reporting.
This study sought to ascertain the link between Corporate Social Responsibility (CSR) rating and the profitability of companies listed on the Nigerian Stock Exchange (NSE), following the release of the first ever country rating of Corporate Citizenship Index (3C-Index) in 2013. The study further sought to ascertain whether significant differences exist between the performances of companies that received high CSR ratings as compared to those that received low ratings. Secondary data were extracted from the 2013 to 2017 annual reports and accounts of companies that got different CSR ratings classified as high and low. The multiple regression and Mann-Whitney rank test (U-test) were used to test the propositions. The findings from the regression showed a positive but insignificant relationship between CSR rating and firm performance but a significantly positive relationship with the size of firms. The results of the U-tests were mixed, whereas the Return on Assets (ROA) of companies with high CSR ratings did not differ significantly from companies with low CSR ratings, the Return on Equity (ROE) of companies with high CSR ratings was significantly greater than that of companies with low CSR ratings. This finding suggests that CSR may be in its infancy among the study sample but is beginning to take roots as evident by the positive βs statistics and a significant difference in the ROE of the companies as captured by the non-parametric statistics. It is recommended that the period of the study be extended in the intermediate and long-run to determine if the relationship might become significant.
1. Introduction The manufacturing sector remains a key driver of economic growth. Its performance is driven largely by monetary policy action, especially benchmark lending rate, loans and advances to the sector. Precisely, an appropriate lending rate remains vital for achieving improved manufacturing sector performance in the emerging economies. High lending rate increases cost of borrowing, retards domestic investment, diminish aggregate demand, increase unemployment, weaken economic growth and discourages manufacturer from commercial banks' loans (Okafor, Ogbonna & Anaemena, 2020). Manufacturing sector plays a vital role in a modern economy and has many dynamic benefits essential for economic transformation. The emerging economies are not an exception as the sector is responsible for the production of goods and sustainable growth. Manufacturing sector has been treated as a leading sector for most of the developed economy. It always has shown contribution towards boosting GDP, creation of employment, improving per capita income etc. it also broadens the way to improve the economy with a significant faster way by creating a connection among many other sectors. As per Anyanwu (2010), manufacturing sector significantly improves Gross Domestic Product (GDP). Nigeria, being a rising economy also has put its efforts for using substitution strategy to enhance its manufacturing sector. Light industry and assembly related manufacturing initiatives were prime among its up to 1970. Turneries tobacco processing, textiles, beverages and petroleum products were the main players for this industry. Third National Development Plan (1975-1980) had shifted this orientation to the heavy industry. With the policy of expanding, finished goods had been increased (Ariyo, 2015). In this scenario, more technology-based developments have been noticed in the productive sector, which had driven the low level of production to a more automated and proficient mass production system. In spite of this, socioeconomically constraints had been seen severely. The major factor is current economic planning and policy instruments (Ogar, 2014). Apart from deposit money banks' credits, the Federal Government's
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