Purpose The purpose of this study is to empirically examine how corruption impacts economic output growth in Nigeria. This is because of the recent trend in the level of corruption. Design/methodology/approach Using time series data ranging from 1995 to 2019, this study used the Johansen cointegration estimating approach and vector error correction mechanism to show an equilibrium relationship between output growth and other variables (oil revenue and corruption). To conduct the integration test, this study in the preliminary, used unit root test. Findings This study finds unidirectional and bidirectional causal relationships among variables. Contrary to a few studies, this study shows an equilibrium relationship between output growth and other variables (oil revenue and corruption). Thus, an increase in corruption at equilibrium would weaken output growth. Nonetheless, this study finds a gradual return of the deviation from the long-run stability over an arrangement of imperfect short-run adjustments. Based on the findings, to enhance economic growth, this study recommends zero tolerance for corruption. It also recommends that governments should further strengthen anti-corruption institutions and incorporate anti-corruption movements into decision-making processes. Originality/value This study adds to the literature by re-examining for the first time the relationship between corruption and economic growth in Nigeria. This study also deals with some econometrics issues which are found to be appropriate estimation to determine the equilibrium and stability in this study.

Environmental Management Accounting (EMA) is a broader concept of accounting which uses accounting tools and practices to support company-internal management decision making on environmental issues and its impact on company performance. Research on EMA can be divided into two broad categories: theoretical and empirical studies. The theoretical studies based on framework that aim to explain the nature of the relationship between economic and environmental performance and the adoption of Environmental Management Accounting in a business environment. The empirical studies follow two lines of research, instrumental studies aim to empirically test the relationships hypothesized in theoretical studies; descriptive studies are intended to examine the factors that encourage the adoption of EMA. This review paper examined the role of MFCA in identifying non-product output (waste) and its impact on an organisations profitability. Various case studies are examined in this article that demonstrates MFCA to an important environmental management tool to ensure future sustainability of an organisation.

East African firms are experiencing economic growth and are attracting foreign investment in the form of equity capital and loans. However, there are concerns about whether the structure of the capital and managerial ownership of these firms can influence their growth. The study examined the relationship between capital structure and firm value in East African countries and how managerial ownership influences this relationship. Sixty-five (65) listed firms in East Africa were selected for the study. The study employed a GMM estimation technique. The evidence showed that leverage has a significantly negative impact on the value of firms in East Africa, suggesting that higher debt would result in a decrease of firm value. The implication of this result is that firms can increase their value by reducing their leverage level. Moreover, the study found that managerial ownership had an inverse and significant impact on the relationship between leverage and firm value. The conclusion is that leverage decreases the value of firms in East Africa. Another conclusion is that owner-managers can use debt capital more effectively to increase firm value than non-owner managers. The implication of this result is that firms managed by owners can borrow more for their operations because it would increase the value of the firms. This study is the first to examine how managerial ownership moderates the relationship between capital structure and the value of firms in East Africa, which has a unique political, social, cultural and economic environment.

AUTHORSMishelle Doorasamy ARTICLE INFOMishelle Doorasamy (2016 This study attempts to measure the financial performance of the food industry taking the top three JSE listed companies Pioneer Foods, Tiger Brands and RCI for the period of 2013-2014. In order to achieve the objectives of this research, ratios such as return on equity (ROE), return on assets (ROA) have been calculated by applying the DuPont analysis. The DuPont analysis is an important tool to measure the operating performance of a firm (Sheela and Karthikeyan, 2012). The volatility of the stock market makes investment decisions a controversial issue for most investors. Investments of huge amounts of money need proper analysis in order to make an informed decision. Financial statements are indicators of the profitability and financial sustainability of the business. Ratios are tools used to quantify the risk element before making any strategic decisions, more especially, investment decisions. It has been reported to be one of the most important financial ratios, because it provides investors with a more comprehensive measure of performance (Demmer, 2015). A detailed financial analysis of all three companies using the DuPont system shows that investing in Tiger Brands would generate a higher return to shareholders than Pioneer Foods or RCI.