Scholarly Publication

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    Benchmark Beating and Earnings Manipulation in Nigerian Firms
    (Asian Economic and Financial Review, 2022) Adedeji Gbadebo; Akande Joseph; Yoshifumi Harada; Orraya Suwanno; Adekunle Ahmed
    Earnings management among firms remains a central focus for academics, auditors and regulatory bodies. Benchmark-motivated earnings management occurs when managers engage in opportunistic activities, including flexible use of accounting standards to misrepresent the information in a firm’s financial reports. Academic research has focused on how firms manage earnings to beat benchmarks, but the evidence regarding firms in emerging African stock markets is scarce and none is available for Nigeria. We applied both accruals quality and discretionary accruals models to detect whether firms that beat earnings benchmarks report earnings differently from others. Using 161 firms listed on the Nigerian Stock Exchange from 2002 to 2019, the study verifies how benchmark beaters manage earnings under the framework of two earnings thresholds – earnings (level) and positive earnings changes. Earnings persistence tests were carried out to verify whether benchmark beaters are consistent manipulators relative to non-beaters. The findings indicate that positive earnings benchmarks differ among the dichotomized groups. The evidence is not sufficient to validate that the change in earnings benchmarks motivates earnings discretions. However, the evidence may improve for larger samples. The study offers insights for informed decisions on the expectation of investment returns for investors, creditors, and other market partakers that require earnings information
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    On Export and Economic Growth: A Comparative Analysis of Selected West African Countries
    (International Journal of Economics and Financial Issues, 2022) Ahmed Oluwatobi ADEKUNLE; Adedeji Daniel GBADEBO; Joseph Olorunfemi AKANDE
    The effect of export on economic growth has attracted much attention amongst researchers and practitioners. Conventional theories posit that output growth is attainable if countries produce and export the goods in which they have comparative advantages or are resourcefully endowed. Available evidence, however, sometimes present negative or inconclusive results on export-growth nexus. The study applied the panel cointegration and panel corrected standard errors (PCSE) on a sample of thirteen selected West African countries for the period 1990-2018. The result shows existence of cointegration amongst the variables. The PCSE results indicate positive long run relationships between export and growth, on one hand and exchange rate and growth, on the other. The study recommends measures to improve trade and attain growth in region such as the complete removal all forms of export restrictions and tariff on primary products, as well as administrative tax exemptions for domestic firms that engage in production of export goods
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    AN INVESTIGATION OF THE IMPACT OF FINANCIAL INCLUSION ON ECONOMIC GROWTH: EVIDENCE FROM AFRICAN COUNTRIES
    (Asian Economic and Financial Review, 2022) Muri Wole ADEDOKUN; Ahmed Oluwatobi Adekunle; Joseph Olorunfemi Akande
    Financial inclusion has been recognized as a development policy priority and a key to economic growth in developing economies. Essentially, most Sub-Saharan African (SSA) countries have witnessed unstable economic growth over the last three decades. Financial inclusiveness is fundamental to sustainable growth for any economy. This study investigates the effects of financial inclusion on 41 Sub-Saharan African countries from 2004–2019, employing the generalized method of moments (GMM) method and a Granger causality analysis. The results show a positive relationship between financial inclusion and economic growth. The non-causality tests revealed bi-directional causality between the variables for the whole region and low-income and lower-middle-income countries. Furthermore, a unidirectional causality runs from financial inclusion to economic growth in upper-middle-income countries. The study concluded that financial inclusion positively affects the economic growth of SSA and recommends that policies and interventions be redefined in the financial system to achieve steady economic growth and sustainability
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    Social and environmental information disclosure quality versus GRI, G3 sustainability quality reporting principles: A sectoral analysis
    (Fuoye Journal of Finance and Contemporary, 2023) TS Abdulsalam, AJ Lukman, BM Muhammed, OAH Shuaib, S Ibrahim
    Social and environmental information disclosure (SED) of listed companies in Nigeria is perceived as unreliable disclosure which lack quality attributes required for making healthy business decision. Poor quality SED usually creates information asymmetry that denied investors certain information that often influenced investors to patronize equity of sustainability friendly companies. Based on this backdrop, this study examined SED quality of Listed Companies in Nigeria (LCN) based on GRI, G3 sustainability quality reporting framework. Ex-post-facto research design was employed to collect data from annual report of fourty-seven (47) LCN. Statistical analysis of one-sample t-test employed in the study revealed that SED quality of LCN differ from information quality attributes identified in GRI, G3 quality reporting framework. The study concluded that SED of LCN do not satisfy sustainability information quality identified in GRI, G3 reporting framework. This means that sustainability information disclosure of LCN do not follow international best practice required for making healthy business decision. This study recommends that regulatory bodies should partner with academics and professional in Nigeria to develop an acceptable SED quality framework that mirror GRI, G3 quality reporting guideline to improve SED quality of LCN and thus enhance their competitive advantage.
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    Corporate board structure and human capital disclosure of listed non-financial services firms in Nigeria.
    (2024-12-31) Lawal T; Lawal L. O; Shitu A. M; Yunusa M
    They say that humans are all-encompassing and are the driving force behind every business' success. Without employees, businesses would be unable to function and have no one with whom to interact. Although, there is an advancement in automated systems and artificial intelligence, human beings still continue to be the main drivers of innovation and production. Therefore, the purpose of this study is to investigate how board structure affects the disclosure of human capital in Nigerian listed companies. Data were collected from forty-four listed non-financial services firms in Nigeria from 2013-2022. The study analysed the data by means of descriptive statistics to provide summary statistics for the variables. Similarly, the study adopted Ordinary Least Square (OLS) regressions to test the hypotheses. The results of the regression analysis showed that board gender diversity, board education, and the gender makeup of the audit committee all significantly influenced the disclosure of human capital. The result however showed that board nationality does not affect the disclosure of human capital of the firms. This study concludes that board structure improves human capital disclosure of listed non-financial firms in Nigeria. The study recommends that board of directors should be made to have more women and persons with knowledge in accounting, finance, economics and business management as part of the board of the firms in order to influence the decision to increase their human capital disclosure