Browsing by Author "Aruwa, Suleiman A.S."

Now showing 1 - 13 of 13
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    CAN THE STOCK MARKET PREDICT ECONOMIC ACTIVITY IN NIGERIA?
    (Department of Banking and Finance, Nasarawa State University, Keffi., 2009-09-05) Aruwa, Suleiman A.S.
    The stock market has traditionally been viewed as an indicator or predictor of the performance of the economy. Theoretical reasoning on why stock prices might lead economic activity is based on the "wealth effect" from fluctuations in stock prices, the traditional equity valuation models, and models that attempt to explain how expectations are formed such as the adaptive expectations model and the rational expectations model. The study is based on time series data for the period 1981-2008. Empirical analysis was conducted through stationary tests, cointegration test and Vector Error Correction Model. The results indicate a causal relationship between stock prices and the economy. The stock market does predict the performance of the economy in Nigeria. This is consistent with the wealth effect; the economic activity is affected or "caused" by fluctuations in the stock market. A reformed stock market in Nigeria is advocated to boost domestic savings and increase the quantity and quality of investment
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    CONFERENCE REPORT AND COMMUNIQUE: MANAGING THE CHALLENGES OF GLOBAL FINANCIAL CRISIS IN DEVELOPING ECONOMIES
    (Department of Accounting, Nasarawa State University, Keffi., 2010-03-02) Ismaila, Olotu Abdullahi; Aruwa, Suleiman A.S.; Adamu, Abdulmuminu
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    Effect of Audit Committee Characteristics on Sustainability Reporting of Listed Manufacturing Firms in Nigeria
    (Department of Accounting, Nasarawa State University Keffi, 2021-01-01) Aruwa, Suleiman A.S.; Abdulkarim, Shaibu Alhassan; Ojo, Lukman Olatunji
    The main objective of this study is toexamine the effect of Audit committee characteristics on sustainability reporting disclosure of listed manufacturing firm in Nigeria. For the period of ten years from, 2010-2019, Ex-post facto research design was adopted for this study. The population is made of 43 listed manufacturing firm listed on the floor of the Nigeria stock (NSE) from year 2010 -2019. Since the population is not too large, this study utilizes census sampling technique to take all population for the purpose of this study. The data used for this study were secondary data derived from the annual reports of the manufacturing companies that are listed on the floor of the Nigeria stock exchange. The study used panel regression with respect to the use of Hausman specification test to determine the use of fixed or random effect model. The random effect regression result revealed thatAudit committee size, Audit committee financial expertise;and Audit committee meetings have Significant and positive effect Dn sustainability reporting disclosure. jlHowever, Audit committee inc ependence has insignificant effect on •the sustainability reporting disclosure. This study recommended that the Nigerian corporate business most especially manufacturing goods companies should consider increasing the proportion of financial expertise on the audit committee because this will improv corporate sustainability disclosure and also add credibility to the financial statement of the manufacturing companies and consequently reduce information asymmetry, which not only clarifies the conflicts of interests between shareholders and management butalsomakesmanagement more accountable.
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    THE EFFECT OF CREATIVE ACCOUNTING PRACTICES ON REPORTED PROFIT AND LIQUIDITY OF QUOTED COMMERCIAL BANKS IN NIGERIA
    (Department of Accounting, Nasarawa State University, Keffi., 2011-07-12) Aruwa, Suleiman A.S.; Tanimu, Shuaibu Atabs
    The creative financial reporting practices of banks were studied, particularly the adversarial reporting practices associated with Statement of Accounting Standard (SAS 10). The paper examines the effect of creative accounting practices on reported profit and liquidity of quoted banks in Nigeria. This study used ordinary least square method of regression, to examine the relationship between Provisions for Bad and Doubtful Loans (PBDL), provision for depreciation (PFD) and the reported profit and liquidity of Quoted Commercial Banks in Nigeria. The study used secondary sources of data. The data were collected from the Nigerian Stock Exchange (NSE). A sample of three banks was selected out of the sample size of twenty banks quoted on the NSE as at December, 2009, using purposeful sample technique. No significant relationship in provision for bad and doubtful loans, reported profit and liquidity position except for one of the sample, which shows a significant relationship between PBDL and liquidity. But there is a significant difference in the strength of the relationship for provision for depreciation and profitability. Although, there is negative relationship between PFD and liquidity, the strength of the relationship has varied with the result on PBDL. The study recommends uniform rates for depreciation to be specified by Central Bank of Nigeria while the timing by which debts are being serviced by customers should always be reviewed by inspectors from CBN and external auditors.
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    ENTREPRENEURSHIP EDUCATION AND ENTREPRENEURIAL SUCCESS: AN EXPLORATORY ANALYSIS
    (Department of Enterprenuership, Nasarawa State University, Keffi, 2012-02-13) Aruwa, Suleiman A.S.; Chukwuma, Okafor
    This is an empirical study investigating the impact of entrepreneurship education on entrepreneurial success. The study involved the identification of entrepreneurial factors and the empirical findings supporting the potency of entrepreneurial education to impact on business performance. Both primary and secondary data were used. Descriptive statistics and frequencies were performed on the data. There is research evidence accounting for the role of individual and environmental factors in determining business performance. The delivery of entrepreneurship education influences individual characteristics of entrepreneurs but not all environmental factors can be influenced by entrepreneurship education. An environmental factor like entrepreneur's network is developable through entrepreneurship education. This paper concludes that entrepreneurial success is impacted by entrepreneurship education to the extent of development of individual and environmental entrepreneurial characteristics. The synergy of entrepreneurship education and business success can be enhanced by identifying business success factors as basis for entrepreneurship education.
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    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.
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    IMPACT OF PUBLIC DEBT STOCK ON REAL SECTOR STABILITY IN NIGERIA
    (Department of Accounting Nasarawa State University Keffi., 2018-06-13) Isiaku, Mohammed; Aruwa, Suleiman A.S.
    This paper examines the effect of public debt stock on real sector stability in Nigeria using annual data series of public debt stock, budget deficit, real GDP growth rate and inflation rate for the period 1981-2016. Augmented Dickey Fuller (ADF) test for unit root result shows that all variables are integrated of order one and Johansen Cointegration test confirms the absence of long run relationship among the variables, and this informs the choice of Vector Autoregression model for the analysis. However, the study reveals that public debt stock has insignificant positive effect on budget deficit and real GDP growth rate and an insignificant negative effect inflation rate, in the short run. The study found also that the variations in budget deficit, GDP growth rate and inflation rate were largely due to own shocks in the model while budget deficit significantly accounted for variations in public debt stock. Granger causality test reveals the absence of causal relationship between public debt stock and inflation rate as well as public debt and real GDP growth rate and confirms that budget deficit granger-causes public debt. The study recommends that further public borrowing should be targeted at engendering growth and stability of the economy in the long-run without raising the price levels. In addition, government should moderate the growth of its budget deficit which further increases its debt stock. Also, the effect of other variables exogenous to the model on budget deficit, inflation rate and real GDP growth rate should be investigated.
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    NEXUS BETWEEN FINANCIAL SECTOR DEVELOPMENT AND ECONOMIC GROWTH IN NIGERIA
    (Department of Banking and Finance, Nasarawa State University Keffi, 2019-03-05) Vincent, Harrison S.; Aruwa, Suleiman A.S.; Gimba, John Toro
    This study evaluates the nexus between financial sector development and economic growth in Nigeria for the period 1986 to 2016. Secondary data were extracted from Central Bank of Nigeria statistical bulletin 2016. The dependent variable is Economic growth which was proxy by GDP and the independent variable is financial sector development which was proxy by credit to private sector and market capitalization while inflation rate as control variable. Expo-facto research design was thus used. The study applied multiple regression model ofanalysis using Eview statistical package version 8. It was found thatf inancial sector development has positive and significant relationship with economic growth in the period of study. The study recommends that Central Bank of Nigeria (CBN) ensure effective compliance with its credit control policy which direct credit to more productive private sector activities and the Securities and Exchange Commissionformulating strategies to deepen the Nigerian Stockmarket.
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    Sustainability Reporting of Listed Manufacturing Firms in Nigeria
    (Department of Accounting, Nasarawa State University, Keffi, 2021-10-08) Aruwa, Suleiman A.S.; Alhassan, A. S.; Ojo, Lukman Olatunji
    The main objective of this study is toexamine the effect of Audit committee characteristics on sustainability reporting disclosure of listed manufacturing firm in Nigeria. For the period of ten years from, 2010-2019, Ex-post facto research design was adopted for this study. The population is made of 43 listed manufacturing firm listed on the floor of the Nigeria stock (NSE) from year 2010 -2019. Since the population is not too large, this study utilizes census sampling technique to take all population for the purpose of this study. The data used for this study were secondary data derived from the annual reports of the manufacturing companies that are listed on the floor of the Nigeria stock exchange. The study used panel regression with respect to the use of Hausman specification test to determine the use of fixed or random effect model. The random effect regression result revealed thatAudit committee size, Audit committee financial expertise and Audit committee meetings have significant and positive effect on sustainability reporting disclosure. However, Audit committee independence has insignificant effect on the sustainability reporting disclosure. This study recommended that the Nigerian corporate business most especially manufacturing goods companies should consider increasing the proportion of financial expertise on the audit committee because this will improve corporate sustainability disclosure and also add credibility to the financial statement of the manufacturing companies and consequently reduce information asymmetry, which not only clarifies the conflicts of interests between shareholders and management but also makes management more accountable.
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    TREASURY SINGLE ACCOUNT: CONCEPT, DESIGN, AND IMPLEMENTATION ISSUES IN NIGERIA
    (Department of Accounting, Nasarawa State University, Keffi, 2021-06-01) Aruwa, Suleiman A.S.; Itodo, Sylvanus Mohammed; Adeyi, Ngbede
    The Bank Verification Number (BVN) became imperative following the increasing incidence of compromise on conventional security systems such as password and Personal Identification Number (PIN) of customers. The BVN involves identifying an individual based on physiological or behavioural attributes, such as fingerprint, signatures and others. The customers unique BVN is accepted as a means of identification across all banks system. This paper assesses the positive effect of TSA implementation on the Economy, the public accounting system and on the liquidity base and performance of banking sector in Nigeria. The paper relied on secondary methodology to effectively examine the fiscal impact of the TSA policy and anchored on incremental model as a framework of analysis. The result of this research shows that adoption of a Treasury Single Account (TSA) is capable of plugging financial loopholes, promoting transparency and accountability in the public Financial System. Thus, the researchers recommend that for the success of this policy government should promulgate more legislation to make it mandatory for all the three tiers of government in Nigeria.
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    VALUE ADDED TAX PERFORMANCE AND ECONOMIC GROWTH IN NIGERIA
    (Department Of Public Administration, Nasarawa State University, Keffi, 2013-02-03) Aruwa, Suleiman A.S.; Adamu, Abdul
    Expanding VAT revenue is indicative of increased consumption and economic activities of country. Whether the VAT productivity and capacity translates to economic growth is the issue being examined. The study examines links for the period 1994-2011. Specifically; the study investigates the directional relationship between VAT productivity, capacity and GDP, and the growth pattern of VAT revenue and GDP. Granger causality test is used to ascertain the directional relationship. The study made use of OLS to examine the relationship between growth patterns of VAT revenue and GDP. We observed that the level of the GDP granger causing VATr is higher, implying that the effect of GDP on VATr precedes the effect of VATr on GDP. The study also observed that the growth pattern of GDP from 1994 to 2009 was oscillating. It increased geometrically between 2010 and 2011. VAT revenue growth had a consistent increase, though the growth was not as explosive as that of the GDP.
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    THE WORTH OF DISCLOSURES IN THE VALUE ADDED STATEMENT AND PATTERN OF VALUE ADDED DISTRIBUTION
    (Department of Economics, Nasarawa State University, Keffi, 2009-01-06) Aruwa, Suleiman A.S.
    Quoted Nigerian companies are statutorily publishing the value added statement (VAS) along other financial reporting requirements. The issues this paper sets out to establish are the significance of value added reports, pattern of value added distribution and to examine whether the value added statement disclosures are useful in social reporting in Nigeria. Documentary data sources were extrapolated from annual financial reports and perception survey questionnaire was administered on report users and stakeholders. Value added ratios were identified and computed and simple correlation analyses were used to establish if they exists any relationship among the variables. The value added ratios are all positively correlated but negatively correlated with value of sales. Whereas the stakeholders found the value added statement to be reliable, complete and objective, it has been less relevant and less useful to stakeholders in their information need. The level of its utilization is low. Value added ratios need to be computed and reported as they improve on the information capacity of the VAS and will make it more attractive to user groups and stakeholders. VAS should be used to construct value added-based ratios, as important diagnostic and predictive tools for making comparison of company’s performance.
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    THE WORTH OF DISCLOSURES IN THE VALUE ADDED STATEMENT AND PATTERN OF VALUE ADDED DISTRIBUTION
    (DEPARTMENT OF ECONOMICS FACULTY OF SOCIAL SCIENCES NASARAWA STATE UNIVERSITY, KEFFI, 2013-08-11) Aruwa, Suleiman A.S.
    Quoted Nigerian companies are statutorily publishing the value added statement (VAS) along other financial reporting requirements. The issues this paper sets out to establish are the significance of value added reports, pattern of value added distribution and to examine whether the value added statement disclosures are useful in social reporting in Nigeria. Documentary data sources were extrapolated from annual financial reports and perception survey questionnaire was administered on report users and stakeholders. Value added ratios were identified and computed and simple correlation analyses were used to establish if they exists any relationship among the variables. The value added ratios are all positively correlated but negatively correlated with value of sales. Whereas the stakeholders found the value added statement to be reliable, complete and objective, it has been less relevant and less useful to stakeholders in their information need. The level of its utilization is low. Value added ratios need to be computed and reported as they improve on the information capacity of the VAS and will make it more attractive to user groups and stakeholders. VAS should be used to construct value added-based ratios, as important diagnostic and predictive tools for making comparison of company’s performance