Scholarly Publication
Permanent URI for this collection
Browse
Recent Submissions
Now showing 1 - 5 of 241
- ItemFinancial Strategies and Firm Value Among Listed Non-Financial Firms in Nigeria(ASIAN JOURNAL OF ACCOUNTING PERSPECTIVES, 2025-11) Yusuf Olamilekan QuadriResearch aim: The nexus between financial strategies and firm value is evident as firms pursue value maximization through their strategic policies and decisions. However, achieving value maximization is fraught with challenges relating to tax planning matters, dividend policy, and investment decisions, among others. Hence, this study examines how financial strategies impact firm value of listed non-financial firms in Nigeria. Design/ Methodology/ Approach: This study adopts a longitudinal research design with stratified sampling. A total of 84 firms were sampled out of 104 listed non-financial firms. Data was extracted from these companies’ annual reports and market data websites, and panel generalised least squares (GLS) was employed to analyse the data obtained after the preliminary analysis. Research finding: The results of the analysis reveal that tax planning, investment decisions, dividend policy, and profitability positively impact the value of the Nigerian listed non- financial firms. Hence, the study concludes that financial strategies are critical levers for the value maximisation of these firms. Theoretical contribution/Originality: This paper contributes to the literature by using shareholder value maximisation theory to show how a well-designed financial strategy can enhance shareholder value through market confidence, optimised resource allocation, risk management, dividend payment, and effective tax planning. Practitioner/Policy implication: The practical implications of this study are that tax efficiency, effective operational cost management, and strategic investment decisions need to align with the firm-specific risk profile to maximise firm value. To policymakers, easy access to long-term financing and provision of tax breaks and other tax incentives should been encouraged to enable firms to optimise their financial strategies and ultimately firm value. Research limitation: This paper encompasses non-financial firms in Nigeria spanning ten sectors. Future studies can conduct sectoral analysis and take industry-specific factors into consideration.
- ItemEXCHANGE RATE FLUCTUATION AND FINANCIAL PERFORMANCE OF LISTED MANUFACTURING COMPANIES IN NIGERIA(Gusau Journal of Accounting and Finance, 2025-04-01) Yusuf Olamilekan QuadriThe havoc from continuous exchange rate fluctuation poses a sizeable threat to manufacturing companies especially those that utilize import-depended inputs in their production processes and consequentially affect their output and performance. Hence, this study evaluates the exchange rate fluctuation and financial performance of listed manufacturing companies in Nigeria. The study adopted a secondary source of data while descriptive statistics and regression analysis were used to analyze the data. The regression analysis result revealed that at a 5% (0.05) level of significance, all four proxies of exchange rate fluctuations are statistically significant to the financial performance of listed manufacturing companies in Nigeria. This led to the failure to accept any of the hypotheses raised to guide this study, with the conclusion that exchange rate fluctuation significantly affects the financial performance of listed manufacturing companies in Nigeria. Therefore, it was recommended that listed manufacturing companies should consider adopting robust foreign exchange risk management strategies ranging from hedging techniques, diversification of markets, and maintaining a clear understanding of their foreign exchange exposures.
- ItemSUSTAINABILITY, HUMAN CAPITAL ACCOUNTING DIMENSIONS, AND CORPORATE FINANCIAL PERFORMANCE IN NIGERIA(Faculty of Management and Social Sciences, 2025) Olumoh, Yusuf Alabi; Uthman, Fatimah Zahra; Abdulsalam, Saka TundeThere is often skepticism among investors and stakeholders regarding the authenticity of sustainability disclosures which may undermines the credibility of sustainability accounting and erode stakeholder trust in companies’ sustainability reports. Meanwhile, many organizations are resistant to adopting human capital accounting due to a traditional focus on financial metrics over non-financial ones, and this mindset creates a barrier to implementing effective human capital reporting, even when it is beneficial in the long run. Given this, this study examines the impact of sustainability and human capital accounting on the corporate financial performance of publicly listed companies in Nigeria. The study adopted an ex-post facto research design and the study analyzed panel data from manufacturing firms listed on the Nigerian Exchange Group, focusing on a sample of 38 firms over the period from 2015 to 2023 using judgmental sampling technique. Data were collected from the audited financial reports of the selected firms. Findings from fixed effects and random effects panel regression models indicate that both sustainability and human capital accounting significantly enhance corporate financial performance. Specifically, the Sustainability accounting positively influences return on assets (ROA) with coefficient of 0.015 (p < 0.01) for fixed effects and 0.013 (p < 0.01) for random effects, as well as return on equity (ROE) with coefficient of 0.019 (p < 0.01) and 0.018 (p < 0.01). Additionally, human capital accounting shows a positive relationship with ROA (0.028, p < 0.01) and ROE (0.034, p < 0.01. The study concluded that integrating these practices into corporate strategies is essential for enhancing profitability and long-term value creation.
- ItemINSTITUTIONAL FACTORS AND LOAN REPAYMENT CULTURE AMONG SMES CREDIT TAKERS OF MICROFINANCE BANKS IN KWARA STATE, NIGERIA(UMYU Journal of Accounting and Finance Research, 2025-06-30) Ismail Jimoh; Lukman Adebayo-Oke Abdulrauf; Yusuf Olamilekan QuadriThe sustainability and efficacy of microfinance banks are greatly aided by their culture of loan repayment; however, Nigerian microfinance banks have been dealing with high default rates and excessive debt from loans given to credit takers across various categories. Hence, this study investigates the effect of institutional factors on the loan repayment culture of the credit takers of microfinance banks in Kwara State. The study gathered primary data from loan officers, account officers and marketers of the 33 microfinance banks in Kwara State as of 2023. Using multi-stage sampling technique, 160 microfinance banks’ staff across the 3 senatorial districts in Kwara State were sampled. The study utilized robust OLS regression to evaluate the model, which confirmed that regulatory shortcomings along with operational inefficiencies and governance issues impact microfinance bank loan repayment practices among SMEs in Kwara State. However, the loan repayment culture of Kwara State microfinance banks’ credit takers is not affected by government policy. The study concluded that institutional factors influence the payment culture of microfinance bank borrowers in Kwara State. Hence, it was recommended that regulatory frameworks and stringent parameters be designed to eliminate operational inefficiencies and monitor credit disbursement and recovery.
- ItemEXCHANGE RATE FLUCTUATION AND FINANCIAL PERFORMANCE OF LISTED MANUFACTURING COMPANIES IN NIGERIA(Gusau Journal of Accounting and Finance, 2025-04-30) Yusuf Olamilekan QuadriThe havoc from continuous exchange rate fluctuation poses a sizeable threat to manufacturing companies especially those that utilize import-depended inputs in their production processes and consequentially affect their output and performance. Hence, this study evaluates the exchange rate fluctuation and financial performance of listed manufacturing companies in Nigeria. The study adopted a secondary source of data while descriptive statistics and regression analysis were used to analyze the data. The regression analysis result revealed that at a 5% (0.05) level of significance, all four proxies of exchange rate fluctuations are statistically significant to the financial performance of listed manufacturing companies in Nigeria. This led to the failure to accept any of the hypotheses raised to guide this study, with the conclusion that exchange rate fluctuation significantly affects the financial performance of listed manufacturing companies in Nigeria. Therefore, it was recommended that listed manufacturing companies should consider adopting robust foreign exchange risk management strategies ranging from hedging techniques, diversification of markets, and maintaining a clear understanding of their foreign exchange exposures.