Browsing by Author "Lukman Adebayo-Oke Abdulrauf, PhD"

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    Income Diversification, ESG Practices and Financial Sustainability of Listed Non-Financial Firms in Nigeria
    (Atlantis Highlights in Economics, Business and Management, 2025-05-05) Lukman Adebayo-Oke Abdulrauf, PhD; Yusuf Olamilekan Quadrim PhD; Sheriff Akanji Ibrahim, PhD
    Meeting the current financial needs and ensuring resource availability for future operations is vital for firms to maximize their shareholders wealth and improve overall health of the economy. However, ineffective allocation of resources to new ventures and ESG compliance issues have compacted the overall performance thereby undermining the listed non-financial firms’ financial sustainability. Consequently, this study investigates the impact of income diversification and ESG practices on the financial sustainability of the firm. Longitudinal research design was used and 84 out of the 104 listed non-financial firms were sampled using multi-stage sampling technique. Data obtained from the annual reports of the sampled firms as well as the ESG-CSR Hub were analyzed using panel data regression (GLS) technique and the findings revealed that income diversification and ESG practices have impact on the financial sustainability of the listed non-financial firms in Nigeria. The study therefore recommends that firms should identify more complementary revenue sources especially in the high-growth sectors in order to minimize investment and operational risk. Also, firms should invest in the energy-efficient technologies and waste management practices while implementing ESG frameworks that will position them competitively in a dynamic environment.
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    Mortgage Finance, Institutional Factors and Housing Development in Nigeria
    (Gusau Journal of Accounting and Finance, 2025-04-30) Lukman Adebayo-Oke Abdulrauf, PhD; Sheriff Akanji Ibrahim, PhD; Yusuf Olamilekan Quadri, PhD
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    OWNERSHIP ATTRIBUTES AND FIRM VALUE: EVIDENCE FROM LISTED NON-FINANCIAL FIRMS IN NIGERIA
    (Gusau Journal of Accounting and Finance, 2025-04-30) Yusuf Olamilekan Quadri, PhD; Lukman Adebayo-Oke Abdulrauf, PhD; Sheriff Akanji Ibrahim, PhD
    The volatile macroeconomic environment in which listed non-financial firms operate in Nigeria has posed many challenges to firm value maximisation due to policy inconsistencies, governance imbalance from ownership configuration, investors’ confidence-related issues, regulatory barriers among others. Hence, this study investigates the impact of ownership attributes on firm value of listed non-financial firms in Nigeria. The study adopted a longitudinal research design and the data of 84 sampled listed non-financial companies were extracted from the annual reports and market data websites. Panel generalised least square regression was employed to analyse the data obtained and the results exhibited that foreign ownership (β=0.1183, p-value = 0.000), institutional ownership (β = 0.5511, p-value = 0.000), managerial ownership (β = 0.2206, p-value = 0.031) and ownership concentration (β = 0.1181, p-value = 0.007) are all significant at 5% significant level, The study concluded that ownership attributes enhance the firm value of listed non-financial firms in Nigeria; thus, it was recommended that sustainable value creation strategies should be adopted in balancing all forms of ownership attributes among listed non-financial firms in order to enhance firm value.
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    Role of Informal Finance in Promoting SMEs in Nigeria
    (IUP Journal of Business Strategy, 2025-03-31) Sheriff Akanji Ibrahim, PhD; Lukman Adebayo-Oke Abdulrauf, PhD; Yusuf Olamilekan Quadri, PhD; Aina Taiye John, PhD
    SMEs are critical to Nigeria's economic development, contributing to employment generation, innovation and poverty alleviation. However, access to finance remains a major constraint for SMEs, limiting their ability to grow and sustain operations. This study examines the role of informal financing in promoting SME growth in Ilorin Metropolis, Kwara State, Nigeria, focusing on the extent to which SMEs rely on informal financial sources, the impact of such financing on business performance. The study employs a quantitative research approach, using survey questionnaires to collect data from SME owners and managers. A multiple linear regression model was employed. Results established that informal financing positively impact SME growth, with personal savings having the strongest influence (β = 0.45, p < 0.05), followed by family and friends (β = 0.30, p < 0.05) and cooperative societies (β = 0.25, p < 0.05). Based on these findings, the study recommends policy interventions to improve SME access to financing, including reforming microfinance loan structures, strengthening cooperative societies, implementing financial literacy programs, and introducing government-backed credit facilities tailored to SME needs. Additionally, integrating informal financing models into the formal financial system could bridge the gap between SMEs and structured financial products, enhancing business sustainability.