This study examines the determinants of accounting choices for noncurrent assets by Nigerian firms at IFRS first adoption within the framework of positive accounting theory. Data were randomly collected from the annual reports of thirty firms that met the adoption target of 2012 and regression technique was used for the analysis. Firms' size and ownership concentration are found as predictors of accounting choice for non-current assets. In addition, the firms mainly choose income increasing strategy by the predominant use of cost model and firms with higher ownership concentration tend to use more of fair value model than income increasing strategy.
This study examines the impact of Board Characteristics on Corporate Social Responsibility Disclosure of listed food product firms in Nigeria over the period 2005-2014. A sample of six firms out of eleven food product firms listed on the floor of Nigerian Stock Exchange was studied. The study made use of secondary data generated from Annual Reports and Accounts of the sampled firms and the Nigerian Stock Exchange Fact book. The data was analyzed by means of descriptive statistics, correlation and regression analysis using STATA (version 12) package. The study reveals that board size and women on board show a significant positive association with corporate social responsibility disclosure of the sample firms. While managerial ownership shows a significant negative effect on corporate social responsibility disclosure. However, board independence indicates an insignificant association with corporate social responsibility disclosure. While the control variable (Size) shows an insignificant negative relationship with corporate social responsibility disclosure. Based on the findings, the study recommends among others, that firms in the food product should have a competent size of 9 to 15 of board members, so as to encourage corporate social responsibility disclosure. Also, the proportion of non-executive directors on the board should be maintained and the appointment should be strictly based on experience and expertise as this will also ensure more corporate social responsibility disclosure. Also, women participation on the board should be encouraged as much as possible since women may have different skills compared to their men counterpart as this will help in ensuring full disclosure of all CSR related information.
Purpose The study aims to evaluate the impact of corporate board gender on the energy disclosure with moderating effect of institutional strength (global competitiveness index) by the listed firms in Nigeria. Design/methodology/approach The study uses a sample of 49 non-financial firms listed on the floor of the Nigerian stock exchange commission for the period of five years (2016–2020). The study uses content analysis techniques to obtain data on environmental disclosure through the use of Global Reporting Initiative standards from the sampled firms. Random and fixed effect regression analyses were run for both direct and moderation models. Based on the results of the Hausman tests, random results were adopted and used in examining the relationship among research variables. Findings The study revealed average energy disclosure by the sampled firms. The overall results of the regression analysis found that board gender diversity is significantly related to energy disclosure. The institutional strength moderation result was found to have an insignificant impact on the relationship between board gender and energy disclosure. Research limitations/implications The study is constrained by not considering all environmentally sensitive firms in the country. Furthermore, the study considered only gender among numerous important board attributes. Hence, other important board attributes should be assessed for better energy disclosure. Future studies should consider data from all sensitive firms and other board attributes. Practical implications Recently, the Nigerian Government mandates all firms to comply with environmental disclosure in Nigeria, this should be used as a way forward to encourage and compel all listed firms to improve their energy disclosure. Social implications With diverse and vibrant women on boards, firms would benefit and gain legitimacy across demographic, ethnic and religious groups in the society. Hence, corporate bodies can effectively contribute toward enhancing the social welfare of various segments of society. Originality/value To the best of the authors’ knowledge, this is the first study that provides empirical evidence on the effect of board gender attributes on the energy disclosure using institutional strength as a moderator in Nigeria.
This paper examines the impact of corporate governance mechanisms on intellectual capital efficiency (ICE) of Nigerian Banks. The data for the study were generated from the audited financial statements of the sample banks for the period of 11 year (2003 - 2013). The study adopted Value Added Intellectual Co-Efficient (VAIC) methodology which includes three ICE components: human capital efficiency, structural capital efficiency and capital employed efficiency. Corporate governance mechanisms considered in this study are Boards Composition, Managerial Rewards, and Ownership Structure. The study controls for the return on equity and leverage of banks. The regression results show that the corporate governance attributes considered in this study are good indicators of (ICE) because their impact are positively and significantly at less than 1% with R-square of 58% and adj R-square of 55%. Also the two control variables are significantly related with intellectual capital efficiency. This implies that corporate governance have significant impact on ICE of firms in the Nigerian banking industry. Therefore, the study recommends that board should acquire political skills which are necessary to effective governance. In order to improve ICE, board should make it as their responsibility to develop and sustain healthy relationships and maintain open, two-way communication with all constituencies of staff in order to incite their IC towards organization’s success.
Aside from the fact that no legislation requires, as we believe, that management has a distinct fiduciary commitment to shareholders, no act prioritizes the shareholder. The management’s fiduciary duty is solely to the corporation. Investors, on the other hand, have a votive claim to the corporation’s residual value once all other obligations have been met. The aim of this survey was to empirically investigate the dividend preference of shareholders in the Nigerian capital market with specific reference to listed manufacturing firms in Nigeria. The study used the design of an investigation using questionnaires and interviews. The target population was 500 shareholders selected based on stratified random sampling out of 682,100 shareholders that is 0.07 percent of the total population. The snowball sampling technique was used to recruit potential respondents from among the shareholders’ acquaintances. The study used a final sample size of 300 respondents from the shareholders. The validity and reliability of the instrument were tested using factor analysis and a Cronbach’s alpha coefficient of 0.72 was obtained. The mean ranking showed that shareholders do have significant dividend preferences which favor cash dividends and support a bird in the hand is worth two in the bush explanation. Given that in practice, shareholders prefer companies with stable and predictable dividend payments, this study could be used to correct and predict the direction of a company’s dividend payments and that the stability of dividend payments change over time.
Purpose-Shareholder wealth problems are becoming such a commonly recognized standard of corporate activity as a result of globalization and deregulation, which was intended to interact to improve economic growth and shareholder wealth. However, truth reveals that globalization and liberalization combined to deprive companies of massive profits since modern executives are more concerned with compensation, profits, control, and reputation than protecting shareholders' faith and trust. Thus, this study examines the impact of board gender on shareholders' wealth of listed manufacturing companies in Nigeria. Methodology-This study descriptive research design, the population consists of sixty-three listed manufacturing companies and a filter was used to pick the sample size of fifty-one, annual data collected from the Nigerian Stock Exchange (NSE) over twelve years from 2008 to 2019. And Pooled OLS regression analysis was adapted as the estimation technique. Findings-The result showed that female directors significantly upsurge the wealth of shareholders. Board gender has a positive influence on wealth optimizers MVS, Tobin's q and PRF. Also, Leverage, Firm Growth and Firm Age upsurge shareholders' wealth while firm size have no significant effect on the wealth of the shareholders. Conclusion-This paper concludes that female board directors can generate healthier financial decision and translates into positive effect on the wealth of shareholders. Therefore, Nigeria's manufacturing companies need to strengthen their efforts to increase the number of women on the board, as a number of these companies do not have a single female director on their board.
The use of non-renewable energy by firms in Nigeria seriously affects biodiversity and the general well-being of the populace. The consequences led the country to be among the top pollution producers globally. However, Nigeria was among the parties that unanimously agreed on the Glasgow Climate Change Conference 2021, under the United Nations Framework Convention on Climate, to tackle greenhouse gas emissions resulting from non-renewable energy sources. The study is a pioneer in examining how board attributes influence quality and quantity disclosure of energy consumed by the listed non-financial firms for the period of 5 years (2016 – 2020). The study aims at providing empirical evidence on how institutional strength influences the relationship between board attributes and firms' energy in reducing emission discharges and achieving sustainable development goals on world climate policy. The study obtained data from a sample of 78 listed non-financial firms, content analysis technique was employed to compute energy disclosure indexes using Global Reporting Initiatives standards. The study runs a generalized method of movement (GMM) to regulate the impending endogeneity of the selected listed companies in Nigeria. The study also conducted several to robust the findings. The overall results found that board independence, meeting, gender and ownership were significantly related to energy disclosure. The study found an insignificant association between ownership and energy disclosure. Institutional strength has not influenced the relationship between independence, meetings, size and gender on energy disclosure. Institutional strength has positively influenced the relationship between ownership and energy disclosure. Thus, the United Nation should set up a strong committee to evaluate the effectiveness and weaknesses of Global Reporting Initiatives standards as the most widely used Environmental, Social and Governance globally. This will expose the peculiarities of most developing nations like Nigeria in adopting the standards and way forwards to attain Sustainable Development Goals 13.
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