Multinationality and Financial Performance: The Place of Multinational Manufacturing Companies in Nigeria

Aguguom, Theophilus Anaekenwa; Ashamu, Sikiru O.; Olanipekun, Ebun

doi:10.13189/ujaf.2022.100218

Cited by 4 publications

(4 citation statements)

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“…The firm's worth can be positively impacted by corporate governance's interest in corporate fraud and earnings management (Borghesi et al, 2019;Buchanan et al, 2018;Chang et al, 2019;Harun et al, 2020;Zolotoy et al, 2019). However, this cannot be applied generally, considering the fact that certain parties are primarily institutional investors, it is reasonable to believe that executive directors and senior management are only playing roles to conceal the company's overall criminality (Aguguom & Olanipekun, 2021;Chen & Gavious, 2015). Although executive directors and top management are a good thing, they still can't erase the company's whole history of wrongdoing.…”

Section: Corporate Fraud and Firm Valuementioning

confidence: 99%

Corporate Fraud, Earnings Management and Firm Value: Empirical Application of M-Scores

Folajimi,

Aguguom,

Ajah

et al. 2023

J. of Law and Sust. Develop.

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Background: Corporate fraud and earnings management have been controversial and discussed extensively in the literature, as companies consider the practices strategic and creative to keep their companies afloat and sustain a desired firm value. While this unethical practice has remained illegal, unethical and a global concern, the trajectory to higher incentives by executives to insider dealings to keep the stock price attractive by managers is unacceptable, this study provides new insight and implications of corporate fraud and earnings management on firm value. Objective: This paper investigates the effect of corporate fraud and earnings management on firm value from the perspective of the application of Beneish M-Score manipulation and probability index as indicators to detect corporate fraud and earnings management on Tobin’s Q as a surrogate of firm value The main aim is to establish the consequence of corporate fraud and earnings management on firm value and highlights the forms of corporate fraud and earnings management, stakeholders concerns and unattractiveness of fraud corporate in whatever capacity. Method: Using descriptive statistics and inferential analysis, the study provides evidence that leverage index, sales growth and sales and administrative expense exerted positive effects and channels for corporate fraud and earning management of the selected Nigerian-listed consumer goods manufacturing companies. We found that while each of the day’s sales trade receivables index, assets quality index, leverage index and sales growth quality index exerted positive effects, the gross margin index, depreciation index and total accruals to total index exhibited negative insignificant effects. However, the joint attributes of corporate fraud and earnings management had a positive significant effect on Tobin’s Q as a firm value surrogate Our Conclusion: The study contributing to knowledge, provides new empirical evidence of the application of the Beneish M-Score model as a novelty to the probability incentive for corporate fraud and earnings management in the companies examined.

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Section: Corporate Fraud and Firm Valuementioning

confidence: 99%

Corporate Fraud, Earnings Management and Firm Value: Empirical Application of M-Scores

Folajimi,

Aguguom,

Ajah

et al. 2023

J. of Law and Sust. Develop.

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“…2019) documented that corporate governance sustainability reporting considers the transparency and honest financial reporting of the banks as a key element of governance and the composition of the board, whether or not the banks are well constituted with the required executive and non-executive board composition and efforts of the corporate governance in mitigation conflict of interests of the agents of the banks and owners of the banks. Effective and efficient corporate governance enhances and fosters quality sustainability reporting in the banks in deposit money banks in Ghana, Kenya and Nigeria, creates superior economic and sustainable values, and supports the banks achieve their set goals and objectives (Peng & Isa, 2020;Aguguom & Olanipekun, 2021).…”

Section: Socialmentioning

confidence: 99%

Sustainability Reporting and Assets Quality of Listed Deposit Money Banks in Ghana, Kenya and Nigeria

Siyanbola¹,

Nwaobia²,

Otitolaiye³

2023

EJAAFR

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Bank's asset quality deteriorates when banks are exposed to high non-performing loans and associated credit risks. Sustainability reporting deepens the acceptability and understanding of huge opportunities and enhances the corporate competitive advantage of the banks in enhancing banks’ assets quality. This study investigated the effect of sustainability reporting on the assets quality of listed deposit money banks (DMBs) in Ghana, Kenya and Nigeria. The study explored secondary data, using a population of 95 listed DMBs, while a sample size of 31 DMBs was purposively selected for a period of 12 years. Data were extracted from the annual financial records of the banks and sustainability reporting checklist in line with the Global Reporting Initiative. The validity and reliability of the data were premised on the statutory audit of the financial statements. Descriptive and inferential (multiple regression) statistics were used to analyze the data at a 5% significant level. The study found that sustainability reporting significantly affected the assets quality of the listed deposit money banks in Ghana, Kenya and Nigeria (Adj R2 = 0.47, Wald-test (4, 367) = 342.18, p < 0.05). Based on the finding, the study recommended managers of the banks should exhibit high professional competence, and exercise managerial expertise and ethical practices in compliance with sustainability reporting best corporate best practices capable of enhancing the assets quality of the banks.

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“…The 36 states and the FCT generated N1.56 trillion in IGR in 2020, the research said. As nations recovered from the coronavirus epidemic, the 2021 number (N1.89 trillion) shows a positive gain of 22 per cent year over year (Aguguom, 2019;Oladipo, Nwanji, Eluyela, Godo, & Adegboyegun, 2022). Oladipo et al (2022) posited that Lagos state has the largest internally sourced income (IGR) in 2021, accounting for N753.3 billion, or 40% of all IGR, according to an analysis by the internal sourced revenue Index.…”

Section: Review Of Literaturementioning

confidence: 99%

Internally sourced revenue optimality and national economy development of Nigeria

Aguguom,

Nwaobia,

Obasi

et al. 2023

IJAEFA

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This study investigated the impact of internally sourced revenue optimality on Nigeria’s national economic development. Internally generated income had traditionally been the mainstay revenue source for the economic development of countries, but it has long been a subject of worry for Nigeria's national economic development, considering how effectively internally generated income is being used for the progress of the country. We adopted an ex-post facto research design, using annual time series data covering a period of 31 years (1992Q1-2022Q4), sourced from the Central Bank of Nigeria Statistical Bulletin and the National Bureau of Statistics. Two variables were considered, the dependent variable of the study (National economic development) proxied with Real Gross Domestic Product (RGPD) and the independent variable (internally sourced revenue) using the total internally sourced revenue that accrued to the federal (FIGR), States and Federal capital territory (SFCTIGR), and Local government (LIGR) as the explanatory variables for the study. The study found that internally sourced revenue positively affects Nigeria’s national economic development and that the period experienced unstable internally generated revenue and weak optimal use of the revenue. The study concluded that internally sourced revenue and optimal utilization of internally sourced revenue affect national economic development. Based on the findings, the study recommended that the Nigerian government should optimally utilize internally sourced revenue to enhance the national economic development of Nigeria.

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Multinationality and Financial Performance: The Place of Multinational Manufacturing Companies in Nigeria

Cited by 4 publications

References 0 publications

Corporate Fraud, Earnings Management and Firm Value: Empirical Application of M-Scores

Corporate Fraud, Earnings Management and Firm Value: Empirical Application of M-Scores

Sustainability Reporting and Assets Quality of Listed Deposit Money Banks in Ghana, Kenya and Nigeria

Internally sourced revenue optimality and national economy development of Nigeria

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