Corporate disclosure is a key mechanism of corporate governance. This study examined the effect of corporate governance disclosure (CGD) on the financial performance of commercial banks listed on the Nigeria Stock Exchange. Based on the provisions of the Code of Corporate Governance for Public Companies in Nigeria, 2011 and the Code of Corporate Governance for Banks and Discount Houses 2014, the study developed a disclosure checklist and employed content analysis technique to extract corporate governance (CG) from 78 annual reports of 13 Nigerian commercial banks from 2011 to 2016. The study trichotomized CGD into those relating to the board of directors, risk framework, and whistleblowing policy. The results of the hypothesized relationships showed a positive and significant association between CGD and the banks' financial performance, with a positive effect of CGD on the board of directors and whistleblowing policy. However, the study did not find a significant association between CGD of risk management framework and the banks' financial performance. This study contributes to the body of knowledge by providing a broader understanding of the effect of CGD on banks' financial performance. The development of a disclosure checklist based on the regulators’ codes of corporate governance is a useful addition to the literature.
The purpose of this study was to investigate the relationship between standard costing and cost control in Nigerian oil and gas industry. This was achieved through a review of extant literature and development of hypotheses. The population for the study consisted of petroleum marketing companies listed in the Nigerian Stock Exchange Factbook of 2012. In order to generate the necessary data for this study, both primary and secondary methods of data collection were adopted. The primary data were collected through the administration of a questionnaire designed in a 5-point Likert scale, while the secondary data were sourced from the Nigerian Stock Exchange Factbook of 2011. The findings generated in this study revealed that a significant relationship exists between standard costing and cost control. It was observed that the more a firm practices standard costing, the more efficient is the firm in material, labor, and overhead costs. Based on the above findings, we recommended that oil and gas firms in Nigeria should adopt and apply standard costing in their accounting system so as to ensure the efficient use of resources for an effective control of costs.
The spate of Accounting scandals and Financial crisis in firms have undermined investors trust concerning financial statements, and as such has raised concerns and criticisms about the quality of financial statements. In order to regain investors’ confidence on financial statements, the audit function lends credibility to the financial statements, particularly through obtaining audit evidence. Therefore, this study empirically investigated the extent of relationship between audit evidence and financial statement quality of Government owned companies in Rivers State. The survey research design was adopted. Questionnaires were administered to selected audit firms in Rivers State. Spearman’s Rank Correlation analysis and ordinary least squares regression analysis were used to analyze the data. The study reveals significant relationship between audit evidence and financial statement quality of Government owned companies in Rivers State. Based on the findings, it was concluded that Audit evidence greatly improves financial statement quality of Government – owned companies in Rivers State. It was recommended that external auditor should always insist on the submission of a letter of representation from management before the end of an audit for purposes of improved reliability and relevance of financial statements.
Given that a key mechanism of corporate governance is corporate disclosure, this study, anchored on agency theory and stakeholder theory, examined the effect of corporate governance disclosure on the financial performance of deposit money banks quoted on the Nigeria Stock Exchange. Based on the provisions of the Code of Corporate Governance for Public Companies in Nigeria, 2011 and the Code of Corporate Governance for Banks and Discount Houses 2014, the study developed a disclosure checklist and employed content analysis method to extract corporate governance from 78 annual reports of thirteen Nigerian deposit money banks from 2011 to 2016. The study categorized corporate governance disclosure into three – corporate governance disclosure on board of directors, corporate governance disclosure on risk framework, and corporate governance disclosure on whistle blowing policy. It constructed an overall corporate governance disclosure index as well as sub-indices corresponding to the three categories of corporate governance disclosure. The study formulated ten hypotheses and ranked ordinary least square methods of multiple regressions to explore the relationship between corporate governance disclosure and the financial performance of deposit money banks in Nigeria. The result showed a positive and significant association between overall corporate governance disclosure and the financial performance of deposit money banks in Nigeria. The result of the OLS regressions also supported a positive effect of corporate governance disclosure on board of directors and whistle blowing policy on the financial performance of the deposit money banks in Nigeria. Contrary to expectation, the study failed to document a significant association between corporate governance disclosure on risk framework and financial performance of deposit money banks. This study has contributed empirically to the body of knowledge by providing broader understanding of the effect of corporate governance disclosure on the financial performance of a critical sector of the Nigerian economy. Methodologically, the study is one of the few that developed disclosure checklist based on the provisions of both codes of corporate governance of Securities and Exchange Commission and Central bank of Nigeria and employed ranked OLS.
We investigate the nexus between board composition and corporate performance of Nigerian banks listed on the Nigerian Stock Exchange (NSE) from 2010 to 2019. The contextual board characteristics of empirical interest include board size, financial knowledge of board members, frequency of board meetings, gender diversity and board independence. Corporate performance is measured by return on equity (ROE) and earnings per share (EPS). Our findings lead to the predictions that board size, financial nous of board members, gender diversity and board independence are important board characteristics that catalyse corporate performance, although the evidence of gender diversity and board independence is limited. We find no robust relation between the frequency of board meetings and corporate performance. Our findings affirm the plurality of governance theories. Although board characteristics are in aggregate perceived to be a strong determinant of firm performance, however, their disaggregation depicts differential effects on the performance of Nigerian banks. The study contributes to (a) empirical validation of theoretical pluralism to gain more insights into the dimensions of corporate governance, and (b) greater understanding of the nexus between board composition and corporate performance through the lens of both financial and nonfinancial factors. The fact that some board characteristics exhibit no or partial relations with firm performance suggests further research in and regulatory attention to the relations between board structure and optimal size for efficient corporate performance.
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