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- ItemSECTORAL PATTERNS OF ACCRUAL-BASED AND REAL EARNINGS MANAGEMENT IN NIGERIA’S NON-FINANCIAL FIRMS(JOURNAL OF GLOBAL ACCOUNTING, 2025-12-31) Abdulraheem Olayiwola KadirThis study examined sectoral differences in earnings management among non-financial firms in Nigeria, with focus on distinguishing between accrual-based earnings management and real earnings management through production and cash-flow channels. Using a balanced panel of listed non-financial firms, the study applied established earnings management proxies and employs descriptive statistics, panel analysis of variance (ANOVA), Bonferroni pairwise comparisons, and variance homogeneity diagnostics to identify sector-specific patterns. The results revealed pronounced sectoral heterogeneity. Accrual-based earnings management exhibits significant sectoral differences, with evidence of both income-decreasing and income-increasing accrual adjustments, depending on industry characteristics. In contrast, real earnings management is highly uneven and concentrated in specific sectors. In particular, the Health Care and Oil & Gas sectors exhibited consistently higher and more volatile real earnings management, driven largely by abnormal cash-flow manipulation. And in the case of Oil & Gas, abnormal production costs. Conglomerates and ICT firms, by contrast, displayed relatively low and stable levels of real earnings management. Pairwise correlations further indicated that accrual-based earnings management operates largely independently of real earnings management, while aggregate real earnings management is strongly driven by abnormal cash-flow activities. Overall, the findings suggest that while accounting standards and governance reforms may have constrained accrual manipulation, they have been less effective in limiting real activities manipulation, which carries direct economic costs. The study contributes to the literature by providing one of the first comprehensive sector-level analyses of multiple earnings management channels in Nigeria, highlighting the need for sector-specific regulatory oversight, enhanced operational monitoring, and risk-based audit and investment strategies in emerging markets.
- ItemCORPORATE ESG ACTIVITIES AND FINANCIAL REPORTING QUALITY: EVIDENCE FROM LISTED NON-FINANCIAL FIRMS IN NIGERIA(MALETE JOURNAL OF ACCOUNTING AND FINANCE, 2025-09-21) Abdulraheem Olayiwola KadirFinancial reporting in Nigeria continues to face challenges such as earnings manipulation, inconsistent disclosures, and weak comparability despite ongoing regulatory reforms. At the same time, global and local stakeholders increasingly demand Environmental, Social, and Governance (ESG) disclosures as part of transparent and credible corporate reporting. This study was undertaken to evaluate how environmental sustainability practices, corporate governance mechanisms, and social responsibility initiatives influence the financial reporting quality (FRQ) of listed non-financial firms in Nigeria. An ex-post facto design was employed, using secondary data extracted from annual reports and sustainability disclosures of 84 firms selected using a multistage sampling technique from 106 non-financial companies listed on the Nigerian Exchange Group between 2018 and 2024. Data were analyzed using panel regression models with appropriate robustness tests. The findings revealed that environmental sustainability, corporate governance, and social responsibility each exert significant positive effects on FRQ, while firm size strengthens these relationships. The study concludes that ESG practices, when genuinely implemented, enhance the credibility, transparency, and comparability of financial reports. It recommends the adoption of standardized ESG disclosure frameworks, stricter enforcement of governance codes, and capacity-building support for smaller firms to improve Nigeria’s financial reporting environment
- 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.