NSUK Repository :: Browsing by Author "Adamu, Abdul"

Browsing by Author "Adamu, Abdul"

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Open Access
ANALYSIS OF QUOTED BANKS’ PERFORMANCE: PRE AND POST POLITICAL TRANSITION IN NIGERIA
(2018-04-14) Adamu, Abdul; Abdul, Zainab Husseini
This study analyses the performance of quoted hanks in Nigeria before and after the 2015 political transition from PDF to APC. This is necessary because of the major policies changes of the new administration like TSA that affected most of the banks. The performances of the banks were classified in terms of profitability, liquidity and asset quality. Data were collected from the audited financial statements of 14 quoted banks for 2014 (Pre) and 2016 (Post) transition period. The data were analyzed using Wilcoxon sign test to test whether there is a significance difference in the performance of the banks in the two periods. The findings show that there is no significance, difference in the profitability and liquidity performances of the banks but there is la significance difference in the asset quality performance of the banks. Thus, it was recommended that banks should look inward to core banking mandates by concentrating on making the real sector viable
Open Access
CAPITAL STRUCTURES AND PERFORMANCE OF FIRMS/ EVIDENCE FROM QUOTED BANKS IN NIGERIA
(The Department of Business Administration, Nasarawa State University Keffi, 2014-08-11) Adamu, Abdul
An appropriate capital structure is a critical decision for any business organization. The decision is important not only because of the need to maximize returns, but also because of the impact such a decision has on an organization's ability to deal with its competitive environment. Capital structure decisions can affect the performance of firms either positively or negatively and there is no hard rule in arriving at optimal capital structure. The objective of this study is to examine the impact of capital structure on the performance of firms. Data were collected from annual reports of the sampled firms for the period of the study (2004 - 2013) and these data were analysed, using summaiy statistics and ordinary least square regression method. It was found that capital structure has a significant impact on firms performance in Nigeria and thus, we recommend that investors and stakeholders of quoted banks in Nigeria should consider the leverage level of any firm before committing their resources as the strength of a firm financing mix determines the quantum of their returns.
Open Access
CAPITAL STRUCTURES AND PERFORMANCE OF FIRMS/ EVIDENCE FROM QUOTED BANKS IN NIGERIA
(Department of Business Administration, Nasarawa State University Keffi, 2014-01-03) Adamu, Abdul
An appropriate and capital structure is a crucial decision for any business organization. The decision is important not only because of the need to maximize returns, but also because of the impact such a decision has an organization's ability to deal with its competitive environment. Capital structure can affect the performance of firms either positively or negatively and there is no hard rule in arriving at optimal structure. The objective of this study is examine the impact of capital structure on the performance of firms. Data were collected from annual report of the sampled firms for the period of study (2004-2013) and this data were analyzed using summary statistics and ordinary lease square regression method.
Open Access
CORPORATE GOVERNANCE AND FINANCIAL STATEMENTS’ FRAUD LIKELIHOOD IN LISTED NON-FINANCIAL FIRMS IN NIGERIA
(Department of Banking and Finance, Nasarawa State University Keffi, 2020-03-01) Abdul, Zainab Hussaini; Adamu, Abdul ; Haruna, Joel
This study examines the effect of corporate governance on the financial statement fraud likelihood for listed non-financial firms in Nigeria. From the population of 117 non-financial firms quoted on the Nigerian stock exchange as at 2016, a sample of 32 firms were drawn and data from their financial statements were analysed using binary logistic panel regression. The Beneish Score, as the dependent variable was used to classify firms into manipulators (fraud) and non-manipulators (non-fraud). Firms with Beneish score above -2.22 are manipulators and those below are non-manipulators. The finding suggests that board size, board independent, gender diversity, audit committee and board meetings are negatively and significantly related to fraud likelihood. Only board remuneration is positively and significantly related to fraud. This study recommends that Board size of the deposit money banks in Nigeria should be optimum as increasing it affects board remuneration significantly.
Open Access
CORPORATE GOVERNANCE AND PERFORMANCE OF REAL ESTATE INVESTMENT TRUSTS IN NIGERIA: A PANEL REGRESSION ANALYSIS MODEL
(Department of Business Administration, Nasarawa State University Keffi, 2018-07-01) Abubakar, Ali; Adamu, Abdul; Lawal Sanusi
The study examines the effect of corporate governance on the performance Real. Estate investment Trusts (REITS)1 in Nigeria! The three REITs (Skye Shelter, UAC p| properties, -Union Homes); on the Nigerian Stock Exchange were studied. Data were ■ collected from their annual reports from 2008 to 2015 and it was analyzed using panel • regression. The dependent variables used are board size, board independence, audit committee, board diversity, and gender diversity while the independent variable is || 7 the return on Asset- The results of the regression show that board size and audit committee have positive and significant effects on REITs performance while board independence, board composition and gender diversities have negative and. significant effects on REITs performance. It was recommended that corporate mechanisms (board independence, board and gender diversities) must be improved || to have the needed effect on performance of REITs in Nigeria.
Open Access
EFFECT OF ISSUER CREDIT QUALITY ON CORPORATE BOND RETURNS OF SOME SELECTED DEPOSIT MONEY BANKS IN NIGERIA
(Department of Business Administration, Nasarawa State University Keffi, 2018-08-21) Ogwuche, Iduh Peter; Adamu, Abdul; Ali, Abubakar
Research in the area of finance in developed economies has long identified issuer credit quality as critical concern to investors. However, this do not receive much attention in developing countries such as Nigeria until recently. Thus, this study investigates the effect of issuer credit quality on corporate bond returns of some selected deposit money banks (issuers) in Nigeria for the period 11 years (2005-2015). The descriptive and correlational research designs were used and the data for the study were collected from the annual reports and accounts of sampled DMBs, SEC publications and NSE fact book for the period of study. The Panel Regression Model was used for data analysis and the findings showed that, Issuer credit quality had a significant negative effect on the corporate bond returns of the• sampled ■ deposit money banks (DMBs) listed on the Nigerian Stock Exchange. Based on these findings, it is the recommended that policymakers and regulators of DMBs in Nigeria should ensure regular and consistent periodic credit rating as it restores investors’ confidence and that DMBs banks should ensure credible outlook that will reflect the quality of the corporate bond.
Open Access
EFFECT OF MANAGERIAL OWNERSHIP STRUCTURE ON CORPORATE VALUE OF CONSUMER GOODS FIRMS IN NIGERIA
(Department of Business Administration, Nasarawa State University Keffi, 2018-07-08) Onana, Kingsley Iyimoga; Adamu, Abdul ; Okoli, Emmanuel
This study was motivated by the agency problem and information asymmetry problem of manage not acting completely in the interest of the corporate owners, following the shareholder's value maximization objective. The study sought to determine the effect of managerial ownership structure as a corporate governance mechanism on corporate value of listed consumer good firms in Nigeria using Tobin Q as proxy for corporate value (the dependent variable). The study adopted a i descriptive research design using panel regression analysis techniques to ascertain the relationship g between the research variables. The population for the study was all consumer good firms listed on the Nigerian Stock Exchange (NSE) as at December 2018. Ten years panel Secondary data from Central Bank of Nigeria (CBN) statistical bulletins, Nigerian Stock Exchange (NSE) reports, Securities and Exchange Commission (SEC) reports and individual firm’s books were used for the study. From Random Effects Model of the analysis, the study found significant positive effect on Managerial Ownership on Corporate Value of the firms. The study concluded that Managerial Ownership important to attainment of increased corporate value of the sampled firms and recommends it should be encouraged and increased in order to improve corporate value of the firms.
Open Access
EFFECT OF PACKAGING INFORMATION ON CONSUMER BUYING BEHAVIOUR OF PACKAGED VEGETABLE OIL IN ABUJA FCT NIGERIA
(Department of Business Administration, Nasarawa State University Keffi, 2020-06-09) Tende, S.B.A.; Adamu, Abdul ; Alex-Ilani, Evie
This study was carried out to the effect 'of packaging information on consumer buying1behaviour of packaged vegetable oil in Abuja FCT' Nigeria. The sample size was 420 consumers of vegetable oil in Abuja and the research instrument was a:10 - items questionnaire. designed using Likert 5point scale format. Descriptive and inferential statistics was used for data analysis. Simple percentage was used to answer research questions. Inferential statistics using ordinary least square (OLS) regression estimation was used to test the hypothesis for this study, formulated at 0.05 level of significance. The core findings from the result obtained revealed that packaging information has significant positive effect on consumer buying behavior. Hence the information on product labels can influence. consumers into buying a product. It was therefore concluded that product packaging plays a positive role in consumer buying behavior. It was recommended that manufacturers and marketers ensure that the label on the packaging of their brand of vegetable oil dearly carries adequate information such as the health benefits, expiry date, and nutritional value, etc.
Open Access
EFFECT OF WORKING CAPITAL MANAGEMENT ON FINANCIAL PERFORMANCE OF QUOTED CONGLOMERATE FIRMS IN NIGERIA
(Department of Business Administration, Nasarawa State University Keffi, 2018-12-15) Abdul-Khadir Musa, Ismail; Adamu, Abdul ; Aliyu, Sa'adiya
This study examined the effect of working capital management (WCM) on the financial | performance of quoted conglomerate firms in Nigeria for the period 2006 to 2016. Account | receivable period (ARP), account payable period (APP), inventory turnover period (INV) and cash (1 conversion cycle (CCC) were adopted as the proxies for WCM while return on equity (ROE), return on assets (ROA) and return on investments (ROI) were adopted as proxies for financial performance. Secondary data were obtained from ten (10) quoted conglomerate firms' financial statements and Structural Equation Modeling (SEM) was used for the analysis. The study reveals * that APP and CCC have positive effect on financial performance, while ARP and INV have negative effect on financial performance. The general result indicates that there is significant effect of WCM 5 on financial performance (ROA, ROE and ROI) of quoted conglomerate firms in Nigeria. It is recommended that the: companies should; ensure speedy collections of account receivables; increase account payable period; formulate and implement effective strategies for inventory H management system that minimizes inventory turnover period and management should ensure that I investments in working capital is optimized by reducing the length of time from the actual outlay of 1 cash for purchases until the collection of receivables resulting from the sales of goods or services.
Open Access
EXCHANGE TRADED FUNDS AND THE LIQUIDITY OF THE COMPONENT STOCKS
(Department of Business Administration, Nasarawa State University Keffi, 2015-02-11) Adamu, Abdul; Wada, Friday; Ogwuche, Iduh Peter
This study examined the liquidity of Exchange Traded Fund and its component stocks1 on the Nigerian Stock Exchange (NSE). The data for this study was the daily opening price, day price, and volume traded for the ETF and the first10 most capitalized stocks of NSE 30. The data was analysed using descriptive statistics and Amihud’s measure of illiquidity. The results show that the component stocks are more liquid than the ETFs and it was recommended that the regulators should educate the investors and their agents on the likely benefits of investing in ETFs rather than the individual component stocks
Open Access
EXCHANGE TRADED FUNDS AND THE VOLATILITY OR THE UNDERLYING ASSETS
(Department of Business Administration, Nasarawa State University Keffi, 2015-03-14) Adamu, Abdul; Aruwa, Suleiman A.S.
Open Access
FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH IN NIGERIA: A TEST OF CAUSALITY
(Department of Business Administration, Nasarawa State University Keffi, 2012-12-11) Dauda, Abdulsalam; Adamu, Abdul
Foreign Direct Investment (FDl) facilitates the growth of international production which provides an unprecedented opportunity for deyelpping countries to achieye faster Economic Growth through foreign investments. This paper examines the causal relationship between FDI. and Economic Growth in Nigeria for the period 1978-2007. The stationarity of the data series are tested using. Augmented Dickey-Fuller (ADF) and Johansen Co-integration test, and Vector Error. Correction Model fVEClyl). used for causality test. The study found that the FDI and Gross Domestic Product (GDP) are cointegrated while the VECM employed shows that causality run ? from GDP to FDI. Given the existence of long-run and the causal relationship, the paper recommends that effort: 'hoidd be made to attract FDI to other sectors that also contribute to GDP other than the extractive (oil) sector.
Open Access
FOREIGN INVESTMENT AND THE PERFORMANCE OF MANUFACTURING FIRM IN NIGERIA
(Department of Business Administration, Nasarawa State University Keffi, 2012-01-19) Adamu, Abdul; Barnabas, Embugus Barde
The purpose of this study is to examine the impact of foreign direct investment (FDI) on the performance of manufacturing firms in Nigeria.
Open Access
FOREIGN INVESTMENT AND THE PERFORMANCE OF MANUFACTURING FIRM IN NIGERIA
(Department of Business Administration, Nasarawa State University Keffi, 2012) Adamu, Abdul; Barnabas, Embugus Barde
The purpose of this study is to examine the Foreign Direct Investment (FDI) on the performance of manufacturing firms in Nigeria. Methodology: Annual data of aggregate foreign direct investment, manufacturing foreign direct investment, manufacturing index, manufacturing capacity utilization, manufacturing value added tax, and manufacturing turnovers were used. In the analysis,
Open Access
GLOBAL FINANCIAL CRISIS AND NIGERIAN STOCK MARKET VOLATILITY
(Department of Business Administration, Nasarawa State University Keffi, 2011-12-04) Adamu, Abdul
The current global financial crisis is no longer news but a reality. Our policy makers in the country have been proven wrong based on their ' argument that the country was insulated. Some of the sectors that have felt the heat of the crisis are the banking sector and the stock market. In the stock market, investors lost trillions of naira due the downward fall in the prices of stock. Based on this, the study assesses the extent of the stock market volatility in the period preceding the. crisis and the period of the crisis. Using the All Share Index, the returns for various months were computed, descriptive statistics of the returns was calculated and the volatility of the market was estimated using the standard deviation. It was found that the stock market is highly volatile in the period of the financial crisis than the period preceding it. The recommendation is that the depth of instruments in the stock market should be varied in terms-of fixed securities than equity instruments.
Open Access
GLOBAL FINANCIAL CRISIS, THE CAPITAL MARKET AND ECONOMIC; GROWTH IN NIGERIA
(Department of Business Administration, Nasarawa State University Keffi, 2012-04-09) Adamu, Abdul
The global financial crisis began in industrialized countries and quickly spread to emerging market and developing economies. Investors pulled capital from countries and caused values of stocks and domestic currencies, to plunge, pushing economies worldwide either into recession or into a period of slow economic growth. Thus, this paper examines the relationship between Gross Domestic Product and All Share Index of the Nigerian Stock Exchange during the period of the global financial crisis., The study uses quarterly time series data between 2007 and 2009 which were tested and found to be, stationary as well as cointegrated. Ordinary Least Square regression was used in the analysis and it was found, that there is a negative relationship between gross domestic product and stock market indices in Nigeria during this crisis period. It was recommended that there is heed to strengthen the regulation of the market in order to restore investor's confidence and cushion the effect of the meltdown on the economy.
Open Access
INFLATION RATE AND STOCK RETURNS IN NIGERIA
(Department of Business Administration, Nasarawa State University Keffi, 2016-12-11) Gbande, C.P.A.; Adamu, Abdul
The study examines the effect of inflation on stock returns of the stocks listed on the Nigerian Stock change. Descriptive research design was used in the study and secondary data were collected from CBN statistical bulletin and NSE for the purpose of analysis. The analysis was done -using ordinary least square regression and it was found that an inflation rate has q significant positive effect on stock ^returns on the NSE. This finding suggested that stock market returns may provide an effective hedge against inflation in Nigeria. It is recommended that policies geared at controlling inflation should take into cognizance the role of monetary policies as these will go a long way in further deepening of the stock market.
Open Access
INVESTMENT DECISION AND RISK ANALYSIS IN OIL EXPLORATION PROJECTS - A MQNTE CARLO VALUE-AT-RISK (VaR) APPROACH
(Department of Business Administration, Nasarawa State University Keffi, 2014-02-13) Adamu, Abdul
This study examines the application of Monte Carlo simulation Value-at-Risk (VaR) technique or risk analysis and investment‘ decision in oil exploration project. The study uses the historical daily crude oil future pribe from Energy Information Administration and a hypothetical Okoro oilfield in Niger Delta - Nigeria. The analysis of the data was done using Value @ Risk Monte Carlo simulation and .the finding .shows that the project is profitable because it has a positive NPV It was recommended that the company should undertake the oil exploration as the chances of a positive return on investment are high.
Open Access
MONEY LAUNDRING AND INFLATION RATE IN NIGERIA
(Department of Public Administration, Nasarawa State University Keffi, 2020-03-01) Abdul, Zainab Hussaini; Adamu, Abdul ; Naburgi, Musa Mohammed
Money laundering has been an issue of serious concern to many emerging and under developed economies around the world and this account for why Nigeria come up with laws as well as rules to protect its economy from this illicit act. The money laundering act in Nigeria was enacted in 2011 for this purpose. But despite these actions, the rate of this laundering transaction has been on the high. That is why this study aim is to examine the effect of money laundering on inflation rate in Nigeria. In other to achieve this objective the study considered launder funds and inflation rate for the period of eight years (2012- 2019). Expo-facto research design was adopted for this study while, the date on the variable of study were obtain from Basel accord data and CBN statistical bulletin for the period under review, ordinary least square regression analysis was conducted with the aid of EViews statistical package. The result of this study proves that MONL has a negative effect on inflation rate in Nigeria. Thus, the study concludes that money laundering reduces inflation rate in Nigeria, because it is revealed that the relationship between money laundry and inflation is negative. The recommendation is that the CBN should also embark on a regular anti-money laundering audit of all Banks to ensure that commercial banks comply with its guideline.
Open Access
NEW PARTNERSHIP FOR AFRICA’S DEVELOPMENT AND "ECONOMIC GROWTH IN NIGERIA
(Department of Business Administration, Nasarawa State University Keffi, 2015-03-01) Adamu, Abdul
Africa has registered'its commitment and determination for socio economic transformation,.and accelerated development through the New Partnership for African developmentf. (NEPAD) programme of the African Union. NEPAD, as a continental initiative, has brought to the fore, more than ever before, the requisite political will to the overarching objective of reducing poverty. Thus, the objective of this study is to examine the role of NEPAD on economic growth of Nigeria. The data for the study is the actual expenditure data on the three sampled sectors from NEPAD office in Abuja and the real Gross Domestic Product (GDP) for the corresponding periods extracted: from CBN statistical bulletin. The data was analysed using Ordinary Least Square regression to show the relationship between NEPAD and economic growth. The result shows that NEPAD has positive impact on Nigerian economy. It is recommended that The government should increase budgetary allocation to the Agricultural, educational and health sector. The allocation should be based on the agreement as contained in the NEPAD policy framework. This will promote economic development.