This research paper examined the relationship between corporate governance and the commission of corporate fraud among quoted companies in Nigeria. The research utilized a sample of eighteen (18) companies whose data were collected through content analyses on the basis of the availability of information from annual reports and other media reports. Data for the study were analyzed using a binary logit multiple regression analysis method. The findings of the study showed that there is a negative relationship between the independence of the board of directors and corporate fraud. The findings further show that there is a negative relationship between the commitment of the audit committee to their roles and corporate fraud. Finally, the findings show that there is a positive relationship between ownership structure and the phenomenon of corporate fraud in organizations. From the findings of the study, it is concluded that increasing the number of independent members in the board of directors will increase the ability of the board of directors to checkmate fraud commission. However, the ability of independence of board members to forestall corporate fraud is below the optimal level. It is also concluded that the commitment of the audit committee is an important deterrent of corporate fraud. Finally, increased concentration of ownership with only a few individuals will lead to increased fraud. Thus, it is recommended that the number of independent members in the board of directors be statutorily increased. Finally, it is recommended that the concentration of ownership in a few hands be discouraged.
This research paper investigated the role of corruption and financial statement fraud in business failure in Nigeria. Data for the study was collected through the issuance of a structured questionnaire to professional accountants and auditors and analyzed using descriptive statistics and the OLS method of multiple regression analyses. The results of the analyses showed a positive relationship between the prevalence of corruption and the phenomenon of business failure as well as a positive relationship between financial statement fraud and business failure in Nigeria. From the findings, it was concluded that corruption increases the risk of business failure by causing an increase in the cost of doing business. It was also deduced that the menace of financial statement fraud significantly increases the risk of business failure. Thus, a reduction in institutional corruption will have a considerable effect on the ability of businesses to survive and thrive. It is recommended that the government take serious measures to curb the problem of corruption to guarantee safe economic environment for businesses to navigate. It is also recommended that regulators take proactive measures to reduce the incidences of financial statement fraud perpetrated in the country.
The unceasing apprehension of probable distress of commercial banks in Nigeria has raised concerns on the quality of current assets investment and management in the Nigerian banking industry. Hence, the study analyzed the impact of current assets investment & management on corporate financial returns of listed commercial banks in Nigeria. The longitudinal research design was adopted and secondary data of eight (8) banks whose annual reports were available as at the end of 2016 was randomly selected from the population of fifteen (15) listed deposit money banks in the Nigerian Stock Exchange. Ordinary least square (OLS) regression analysis was employed to determine the association between current assets investment and corporate financial returns. The results of the study indicate that there exist a significant positive relationship between loans and advances granted to customers and return on assets (r =.443, p-value =.004). This leads to the rejection of the null hypothesis, which states that loans and advances granted to customers have no positive influence on return on assets. The relationship between loans and advances granted to other banks and return on assets is negative and significant at 5% confidence level (r = .369, p-value =.019).This leads to the non-rejection of the null hypothesis, which states that loans and advances granted to other banks have no positive impact on returns on assets. The other predictor variables (financial assets held for trading & cash, and cash balances) have an insignificant positive relationships with return on assets. It was therefore recommended that bank managers should not only increase their investment in current assets but they should also consider the most effective and efficient way of managing these assets in order to improve their financial efficiency and corporate value. To this end, the conservative or aggressive current assets investments policy might be pursued depending on the strategic focus of the firm.
This research paper investigated the effect of environmental accounting on the economic development of Nigeria. The data were carefully collected from secondary sources and they were primarily used for content analysis. These were applied to the annual reports of five manufacturing companies to ascertain the level of compliance and costs associated with accounting for their environmental activities. The multiple regression analysis was used to analyze the collected data. The findings indicate that Environmental Protection Costs, Environmental Management Costs and Environmental Research and Development Costs all have a considerable effect on the gross domestic product of Nigeria. No effects, however, were exhibited by these variables which were statistically significant. These imply that environmental accountings as enumerated above do not significantly affect economic development in Nigeria. Thus, environmental accounting as practiced by companies in Nigeria does not play an important role in advancing the Nigerian economy. This is largely because of the fact that companies flout environmental laws in the country with impunity. These companies are aided by corrupt government officials. Government should, therefore, enhance the implementation of environmental laws in the country to make it more difficult for business organizations to avoid/evade their environmental responsibilities.
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