Browsing by Author "Musa, Inuwa Fodio"

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    CAPITAL STRUCTURE CHOICES OF LISTED CONGLOMERATE FIRMS IN NIGERIA
    (Department Of Public Administration, Nasarawa State University, Keffi, 2013-02-03) Musa, Inuwa Fodio
    This study examines the capital structure choices of listed conglomerate firms in Nigeria using the Pecking Order Theory. Empirical results show that conglomerate firms in Nigeria do not make capital structure choice in line with the pecking order theory. Their choices rather follow the reverse sequence of the peeking order theory. The results of this study provide a prima facieevidence in support of the market timing theory and suggest the need for an in depth investigation of the utility of MTT model to firms in Nigeria.
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    Corporate Attributes and Internet Financial Reporting By Deposit Money Banks In Nigeria
    (Department of Accounting, Nasarawa State University, Keffi., 2017-06-01) Ismaila, Olotu Abdullahi; Musa, Inuwa Fodio; Hassan, Musa
    The advent of the internet has brought succor not just to the way businesses around the world are being conducted but also to the way corporations disseminate information to stakeholders. This study assesses the relationship between corporate attributes and internet financial reporting (IFR) practice by quoted Deposit Money Banks (DMBs) in Nigeria. The study used ex-post facto research design. The population of the study comprises of the 15 banks quoted on the firsttier securities market of the Nigerian Stock Exchange as at the December 2015 and these constitute the sample of the study. Web search engines were used to establish internet presence of each bank and the study used IFR Disclosure as proxy for IFR. Corporate attributes (size, liquidity, auditor type and profitability) were regressed against the IFR disclosure index to examine the extent to which they determine IFR. Results show that the relationship between IFR and bank size, bank liquidity is positive and statistically significant which implies that IFR practice is determined by size and liquidity of DMBs. The study noted that IFR is still a voluntary practice that is yet to be regulated. It therefore recommends that IFR should be encouraged and regulated to improve information disclosure and dissemination to wider stakeholders and users of financial reports. Keywords: Internet Financial Reporting, Firm Size, Liquidity, Profitability, Auditor Type.
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    DETERMINANTS OF FINANCIAL DISTRESS OF QUOTED COMMERCIAL BANKS IN NIGERIA
    (Department of Accounting, Nasarawa State University, Keffi, 2021-06-01) Musa, Inuwa Fodio; Musa, Hassan
    This study examines the determinants of financial distress of quoted deposit money banks in Nigeria. The study adopts ex-post facto research design. The population of the study is the 14 quoted DMBs in Nigeria as at 2019. Then, a non-probability method in form of judgmental/purposive sampling technique was used and 13 quoted DMBs were selected based on consistent data set. The data for the study were collected from the annual reports and accounts of the sampled banks for the period of ten (10) years spanning 2010 through 2019. This study made use of panel regression to analyze the data and found out that, firm size is significant negatively related to financial distress of quoted DMBs in Nigeria. In the case of profitability and financial distress, an insignificant positive effect was found. Financial leverage is insignificant and negatively related to financial distress of quoted DMBs in Nigeria. Liquidity is significant and positively related to financial distress of quoted DMBs in Nigeria. Based on the findings of the study, it is concluded that, banks ability to increase their assets based makes the banks to be more stable and thus reduces cases of financial distress. It is recommended among others that, quoted DMBs in Nigeria should make efforts towards increasing their assets based for better profitability and consequently reducing financial distress.
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    Effect of Board Capabilities on Environmental, Social and Governance Disclosure Practices of Listed Non-Financial Firms in Nigeria
    (Department of Accounting, Nasarawa State University Keffi, 2021-03-07) Musa, Inuwa Fodio; Abdulkarim, Shaibu Alhassan; Mohammed, Bamanga Bello
    This study investigated the effects of board capabilities (female director qualification, environmental expertise of directors, and board activity) on environmental, social and governance (ESG) practices of listed non-financial firms in Nigeria. The population for the study consists of 116 non-financial firms in Nigeria while the sample size of the population is forty-eight (48) firms. Ex-post facto research design was used. A generalized least square regression technique was employed to analysis the panel data. The results revealed that female director's qualifications have a positive insignificant effect on ESG practices. The study also revealed that the environmental expertise of directors has a positive significant effect on ESG practices. Boar activity revealed a negative significant effect on ESG practices of listed non financial firms in Nigeria. The study recommends that government collaboration with Security and Exchange Commission (SEC) should come up with a policy that will mandate public companies to provide a seat women with accounting and finance qualification in the board, give them responsibilities in the area of finance, and control related matter SEC should also consider directors with environmental knowledge when designing or amending the provision of the code. On the other hand, less attention should also be given to meeting attendance, as it reduces EGS practices of listed non- Financial firms in Nigeria.
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    EFFECT OF EMPLOYEE BENEFITS ON EFFICIENCY OF SELECTED AND LISTED CONSUMER GOODS COMPANIES IN NIGERIA
    (Department of Accounting, Nasarawa State University Keffi, 2020-10-10) Abubakar, Halimatu Sadiya; Musa, Inuwa Fodio; Zubairu, Abdullahi Danjuma
    This study examined the effect of employee benefit on the efficiency ofs elected and listed consumer goods companies in Nigeria for a period ofe ight (8) years from 2012 to 2019. This study underpinned by Human Capital Theoty used descriptive statistics, correlation analysis, panel regression and panel corrected standard error regression to analyze the association and relationship between the variables. The regression result revealed that employee benefit, positively and significantly affects efficiency of selected and listed consumer goods companies in Nigeria for the specified period. The control variable; company size, positively and significantly affects the efficiency of selected and listed consumer goods companies in Nigeria. The study recommends that selected and listed consumer goods companies should upsurge employee benefit such as increase personnel cost on medical allowances, pension, long service award, training, production bonuses and gratuity in order to intensify their efficiency which involves companies ability to pay employees, providers of finance, government and ability to retain earnings for growth and expansion of business. Specifically, selected and listed consumers goods companies should improve employee benefit by introducing a post-employment medical benefitforp ensioners and employees on the defined gratuity scheme.
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    EFFECT OF HUMAN CAPITAL ON PERFORMANCE OF CONSUMER GOODS COMPANIES LISTED IN NIGERIA: EVIDENCE FROM NEW VARIABLES
    (Department of Accounting, Nasarawa State University Keffi, 2019-01-01) Abubakar, Halimatu Sadiya; Nwala, Maurie Nneka; Musa, Inuwa Fodio
    This study examines the effect of human capital on the performance of consumer goods companies listed in Nigeria. The objectives of the study is to examine the effect of employee cost, employee shareholding and employee size on the performance of consumer goods companies listed in Nigeria for a period of seven (7) years from 2011 to 2017. This study used descriptive statistics, correlation analysis, panel regression and post diagnostics test to analyze the association and relationship between the variables. The regression result reveals that employee cost has significant effect on value added while employee shareholding and employee size has no significant effect on the value added of consumer goods companies listed in Nigeria for the specified period. The control variable firm size has significant effect on the performance of consumer goods companies listed in Nigeria. The study recommends that consumer goods companies should increase employee cost by way of salaries, wages, allowances, cost of training, pension cost, provision for gratuities and other benefits to increase performance by way of efficiency as this shows the ability of the companies to pay employees, providers of interest capital, government and provision for growth in asset.
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    THE EFFECT OF MACROECONOMIC VARIABLES ON FINANCIAL SECTOR DEVELOPMENT IN NIGERIA
    (Department of Banking and Finance, Nasarawa State University Keffi, 2020-01-01) Nwala, Maureen Nneka; Musa, Inuwa Fodio
    This paper examines the macroeconomic variables that affect financial sector development (FSD) in Nigeria. The aim of the paper is to analyse whether inflation, money supply, financial openness, trade openness and government expenditure significantly affects FSD in Nigeria. The period covered by the study is 1984-2017. The data was analysed using Auto Regressive Distributive Lag (ARDL) model. Ratios of private sector credit (PSC) to GDP was used as proxy of FSD. The results revealed that money supply, interest rate, financial openness and inflation significantly explain FSD in Nigeria. The study recommends a closer monitoring, formulation of adequate policies and creating sustainable institutions to take advantage of the benefits of these significant determinants by the relevant authorities especially trade and financial openness.
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    EFFECT OF OWNERSHIP STRUCTURE ON VOLUNTARY DISCLOSURE OF LISTED FINANCIAL FIRMS IN NIGERIA
    (Department of Banking and Finance, Nasarawa State University Keffi, 2018-10-10) Yusuf, Mohammed Aliyu; Musa, Inuwa Fodio; Nwala, Maureen Nneka
    ublished annual reports are required to provide various Stakeholders with timely and reliable information useful for making prudent, effective and efficient decisions. The nexus between ownership structure and voluntary disclosure within these published reports vary from company to company and also from country to country. This study examined the effect of Ownership Structure on Voluntary Disclosure of listed financial firms in Nigeria for the period of 10 years from 2008-2017. The study adopted ex-post facto research design, and a sample of 44 out of 57 financial firms listed on the floor of Nigerian Stock Exchange as at 31st December, 2017 was selected using purposive sampling technique. Secondary data was collected from Annual Reports and Accounts of the sampled firms and the Nigerian Stock Exchange Fact book. The data was analyzed by means of descriptive statistics, Pearson correlation and probit regression analysis using STATA (version 13). The findings revealed that institutional and managerial ownership have an insignificant effect on voluntary disclosure, while block ownership has a positive and significant effect on voluntary disclosure of listed financial firms in Nigeria. The control variables (Size and Age) have a significant effect on voluntary disclosure. Based on the findings, the study recommended that Government and relevant regulatory agencies such as SEC, NSE, CBN, and NDIC should review and increase monitoring on the equity ownership of block shareholders, due to its significant and positive effect on voluntary disclosure, which will lead to increase information to be disclosed voluntarily, more also Directors and Managers of financial institutions in Nigeria should be made by law to own certain minimum percentage of shares due to the fact that an increase in managerial ownership will increase voluntary disclosure as reviewed from the study.
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    EFFECT OF STRUCTURAL CAPITAL ON PERFORMANCE OF LISTED CONSUMER GOODS COMPANIES IN NIGERIA
    (Department of Accounting, Nasarawa State University Kefi, 2019-03-03) Abubakar, Halimatu Sadiya; Musa, Inuwa Fodio; Ibrahim, Hassan
    The recognition of the value and influence of intellectual property rights on performance has overtime been overlooked by companies and researchers. This study examined effect of structural capital on the performance of listed consumer goods companies (CGCs) in Nigeria for a period of six (6) years from 2012 to 2017. The dependent variable for this study is performance proxy by value added while the independent variables are structural capital proxy by intellectual property rights. This study carried out descriptive statistics, correlation analysis, panel regression and post diagnostics test to analyze the variables. The regression result revealed that intellectual property rights has positive and significant effect on performance of listed CGCs in Nigeria for the specified period. The study recommends that listed CGCs in Nigeria should increase investment in intangible assets such as computer software, trademarks, and copyrights as this could be used to create revenue for the businesses there by increasing performance. Also, listed CGCs in Nigeria should ensure separation of the representation of book value for 1PR from that of other intangible assets like goodwill in their financial statements.
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    Firm Attributes and Accounting Information Disclosure by International Oil Producing Companies In Nigeria
    (Department of Accounting, Faculty Of Administration, Nasarawa State University, Keffi, 2016-04-16) Iyere, Samuel Iheonkhan; Musa, Inuwa Fodio
    The nature and types of information to be disclosed in published financial reports are regulated mainly by accounting standards. The extent to which companies comply with these standards varies between companies and between industries. This study examines the effects of company attributes on accounting information disclosure by international oil companies in Nigeria. The sampling frame of the study consists of international oil companies involved in joint venture agreement in Nigeria. The quality of disclosure is measured by a constructed index based on the disclosure requirements of SAS 14. The study used secondary data obtained from the annual accounts and reports of the international oil companies in Nigeria for the period 2002-2011. Ordinary Least Squares (OLS) pool regression analysis was used to test the effects of company size, quantity of oil produced, oil reserve, profitability, liquidity, age, and provision intensity on disclosure of accounting information by the sampled companies. The findings revealed that size, level of production, oil reserve, liquidity and profitability are major determinants of level of compliance by international oil companies. The study also revealed that existing reserve disclosure practices are largely discretionary. On the basis of these findings, the study recommends that board of directors of the international oil companies should strive to maintain a steady increase in company size, profitability and oil production as these factors have the propensity of improving the level accounting information disclosure in the companies.
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    Fund Traits and Corporate Value of Pension Fund Administrators in Nigeria
    (Department of Accounting, Nasarawa State University Keffi, 2019-01-01) Oba, Victor Chiedu; Musa, Inuwa Fodio; Abdulkarim, Shaibu Alhassan
    This study empirically analyses the effect of fund traits on corporate value of pension fund administrators (PFAs) in Nigeria. The issue of the potential nexus between fund characteristics and performance/value which has received vast empirical examination in Western academe has not been adequately investigated in Nigeria. With the evolution of the pension industry and tremendous rise in pension funds, this study therefore sought to provide empirical evidence on the whether selected traits significantly impact on corporate value of PFAs in Nigeria. A sample of twenty out of the twenty one licensed PFAs as at December 2017 were examined. Data for the study were sourced solely from annual reports of the studied PFAs for the period 2008 to 2017. In order to address endogeneity concerns, this study used an Arellano-Bond estimation which demonstrates that fund size, and Age and Contribution density are significant factors in predicting corporate value of PFAs.