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- 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.
- ItemOWNERSHIP ATTRIBUTES AND FIRM VALUE: EVIDENCE FROM LISTED NON-FINANCIAL FIRMS IN NIGERIA(Gusau Journal of Accounting and Finance, 2025-04-30) Yusuf Olamilekan Quadri; Lukman Adebayo-Oke Abdurauf; Sheriff Akanji IbrahimThe 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.
- ItemRole of Informal Financing in Promoting SMEs in Nigeria(The IUP Journal of Business Strategy, 2025-03-30) Sheriff Akanji Ibrahim; Lukman Adebayo-Oke Abdulrauf; Yusuf Olamilekan Quadri; Aina Taye JohnSmall and medium enterprises (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. The 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 and 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. The results established that informal financing positively impacts SME growth, with personal savings having the strongest influence, followed by family and friends and cooperative societies. 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.
- ItemWorking Capital Management and Firms’ Profitability: Evidence from Consumer Goods Sector in Nigeria (2011-2018)(Gombe Journal of Administration and Management, 2019-11-30) Lukman Adebayo-Oke Abdulrauf, Yusuf Olamilekan Quadri, Daud Omotosho Saheed and Makinde Kehinde AlaoFirm’s profitability tends to be maximised as a result of efficiency and interrelationship between some prominent factors like a firm’s size, working capital, financial and operational risks among others. However, from all these factors, working capital is crucial as it affects the operational activities of firms. This study investigates the impact of working capital management on the profitability of firms in the consumer goods sector in Nigeria. Generalised least squares technique was used to analyse the data extracted from the audited financial statements of sampled firms for the period of 2011 to 2018. The study revealed that at 0.05 level of significance, average collection period has a significant positive impact on the profitability of consumer goods firm; inventory holding period has no significant impact on profitability of consumer goods firms; average payment period has significant negative impact on the profitability of consumer goods firms. The study concluded that working capital management plays a significant role in the profitability of consumer goods firms in Nigeria. The study, therefore, recommended that firms should negotiate favourable credit terms with both their customers and suppliers while at the same time, reduce their cash conversion cycle for improved profitability.
- ItemIncome Diversification, ESG Practices and Financial Sustainability of Listed Non-Financial Firms in Nigeria(Springer Nature, 2025) Lukman Adebayo-Oke Abdulrauf; Yusuf Olamilekan Quadri; Sherif Akanji IbrahimMeeting 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.