THE EFFECT OF FINANCIAL PERFORMANCE AND BOARD SIZE ON CORPORATE EXECUTIVE COMPENSATION: A STUDY OF SELECTED LISTED BANKS IN NIGERIA

This paper examined the association between the effect of financial performance and board size on corporate executive compensation in Nigeria. In accomplishing the research objectives of this study, the audited annual financial statement of listed banks covering the period 2005-2013 were analyzed. Also, a total of 10 listed banks in the Nigerian stock exchange market were selected and analyzed for the study using the purposive sampling method. Nevertheless, in analyzing the research hypotheses, the study adopted the use of both descriptive statistics and econometric analysis using the pooled ordinary least square regression analysis method in the estimation of the regression equation. Findings from the study show that a significant positive relationship was observed between banks financial performance and the corporate executive compensation (director’s emoluments) for the sampled banks

Influence of Uncertain Business Environment on Entrepreneurship Decision Making In Nigeria

Influence of uncertain business environment on entrepreneurship decision making is theoretical in nature. The paper pose that the business environment is full of  challenges, these challenges are referred to as business variables, these variables  are divided into two: controllable variables and uncontrollable variables, an entrepreneur must try in as much as possible to diagnose this uncertain business environment before investing the scarce resources. The paper has the following objectives: To determine the impact of environment on business decision, to evaluate the risk associated to investment opportunity and to examine the factors that can hindered the prospects of business in an environment. These factors could be technology, economic system, legal, competitors, and manpower etc. the paper also look at selected areas for examination such as: concept of business, concept of entrepreneurship, characteristics of business, decision making process, types decision, identification of business ventures, product life cycle, entrepreneurship and environmental scanning, SWOT analysis, plant location and layout decision. The study is significant because it has contributed to the body of knowledge, prospective entrepreneurs will also find the article useful as a guide to further study in the field of entrepreneurship, students, individual researcher will also find the articles useful, the paper has equally  helped to understand the implication of investing in an uncertain business environment in Nigeria. It is not as a result of expansion or capital, but it is traceable to inability of an entrepreneur to analyzed business environment before investing the scarce resources. This paper has equal spell out step by step that entrepreneur need to follows in order to judiciously invest these scarce resources. The paper contains about 28 pages includes references. Such as title, introduction, abstract, objectives, significance, major topics on the influence of uncertain business environment on entrepreneurship decision making, summary, conclusion and recommendations Keywords: Uncertainty, Business Environment, Entrepreneurship, Decision-Making, SWOT Analysi

THE EFFECT OF FINANCIAL PERFORMANCE AND BOARD SIZE ON CORPORATE EXECUTIVE COMPENSATION: A STUDY OF SELECTED LISTED BANKS IN NIGERIA

This paper examined the association between the effect of financial performance and board size on corporate executive compensation in Nigeria. In accomplishing the research objectives of this study, the audited annual financial statement of listed banks covering the period 2005-2013 were analyzed. Also, a total of 10 listed banks in the Nigerian stock exchange market were selected and analyzed for the study using the purposive sampling method. Nevertheless, in analyzing the research hypotheses, the study adopted the use of both descriptive statistics and econometric analysis using the pooled ordinary least square regression analysis method in the estimation of the regression equation. Findings from the study show that a significant positive relationship was observed between banks financial performance and the corporate executive compensation (director’s emoluments) for the sampled bank

CORPORATE ETHICAL REPORTING AND FINANCIAL PERFORMANCE: EVIDENCE FROM THE EMERGING MARKET

This paper examines the degree of comprehensiveness of ethical reporting in annual reports of listed firms in Nigeria. It also looks at the relationship between the extent of corporate ethical reporting and financial performance of the listed firms. In addition, it examines the impact of corporate governance on the financial performance of the listed firms. The study utilises the corporate annual reports for the period 2010-2014 as our main source of secondary data, while the content analysis technique is used to elicit data from the corporate annual report. In testing the research hypotheses, the study adopts the use of descriptive statistics, Pearson correlation and panel least square regression method to analyse the degree of comprehensiveness and the relationship between corporate ethical reporting and financial performance of the listed firms. Findings from the study show that there is lack of comprehensiveness of corporate ethical reporting in the selected industries. In addition, the study observed that a significant relationship exists between corporate ethical reporting and financial performance. Also, the study observed that the relationship between corporate governance and financial performance is not significant. The study recommends the need for a stand-alone report for corporate ethical issues in annual reports of companies in Nigeria

Impact of Foreign Direct Investment on the Financial Performance of Listed Deposit Banks in Nigeria

In this study, we examine the impact of foreign direct investment (FDI) on the financial performance of Nigerian listed deposit banks. We collected secondary data from the annual reports and accounts of 14 banks between 2010 and 2017. We employed the Tobin Q quantitative method for the analysis. We adopted the theoretical framework of pecking order theory since the analysis of the impact of FDI on the financial performance of these banks are both inward and outward FDI. The Tobin Q method was used as the dependent variable and FDI as an independent variable. Board size, firm size, equity capital and reinvested earnings were all financial performance indicators employed to test the impact of FDI on the financial performance of the banks on understudy in Nigeria. The result of the data analysis and findings showed that FDI had contributed positively to the development and performance of the deposit banks over the period under consideration. Our theoretical findings suggest a positive relationship between FDI and profit maximization. This support the FDI theory that banks or organisations are financed partly with debt-equity, both used by the banks to balance the cost and benefit financing decisions by the management. In the case of the empirical findings, the results of hypothesis testing show a significant effect on the banks‟ financial performances. Given these results, we conclude that FDI has made a positive impact on the development and financial performances of the listed deposit banks under study which resulted in some of the banks‟ growth from local banks in Nigeria into some of the leading international banks in Africa

Enterprise Risk Management (ERM) and Firm’s Performance: A Study of Listed Manufacturing Firms in Nigeria

Increased volatility in the business world has exposed the inadequacy of traditional approaches to risk management. This has led to an integrated approach to measuring and managing risks known as enterprise risk management (ERM). At the same time, past studies on ERM disclosures have examined it within the context of book-based approach, which has not given the right and accurate information. However, this paper examined the significance of enterprise risk management and listed manufacturing firms' financial performance in Nigeria using both the book-based approach and the market-based approach. Relevant ERM theories in relation to financial performance such as Agency Theory, Stakeholders Theory, and Enterprise Risk Management Theory were examined. A panel data analysis was employed on time series and cross-sectional data of thirty listed manufacturing firms in Nigeria from 2010 to 2018. The random effect of the Hausman test was found to be more appropriate and hence adopted in interpreting the results of the analysis. The results confirm the a priori expectations that profitability ratio, liquidity ratio, market-based ration to risk board committee, the board size, firm size, and directors’ ownership all have varied impact on the firm’s profitability with varied statistical significance levels

Impact of Oil and Non-oil Tax Revenue on Economic Growth in Nigeria

This study examined the impact of oil and non-oil tax revenue on economic growth in Nigeria. few works have covered oil and non-oil taxation and the relationship of petroleum profit tax (PPT), company income tax (CIT), value-added tax (VAT) and custom and excise duties tax (CED) on Real Gross Domestic Product of Nigeria. The study adopted an ex-post facto research design, and data were drawn from the annual reports of Central Bank of Nigeria and Federal Inland Revenue Services publications. Error Correction Model was employed to analyse the data collected after subjecting the series to unit root test and cointegration test. The result of the study showed that PPT with a coefficient of 31.71067 and p-value of 0.0004 and CED with a coefficient of 1.786145 and p-value if 0.0206 had a positive significant relationship with economic growth, while CIT with a coefficient of -14446.50 and p-value of 0.0066 and VAT with a coefficient of -23.33177 and p-value of 0.0001 had a negative significant relationship with economic. The study recommends that taxation be appropriately controlled to boost economic growth, lower inflation, and create jobs in the country. More attention to the channelling PPT and CED revenue collections to infrastructural developments will bring about the economic growth of the country

Impact of Exchange Rate on the Manufacturing Sector in Nigeria

Various studies have been conducted on the impact of exchange rates on the performance of the manufacturing sector and how it influences growth in different climes of the world. These studies have examined; drawing out the relationship between exchange rate and macroeconomic performance, with respect to manufacturing output and its related variables. This study examined the impact of exchange rates on the performance of the Nigerian manufacturing sector using the independent variables of exchange rates, inflation rates, capacity utilization rate, the manufacturing sector’s foreign direct investments, and imports over a period of 25 years (1990-2014). Unit Root test, Johansen co-integration test, Granger causality test and Error Correction Model were used to test for stationarity, long-run relationship, causal relationship, and the short and long run equilibrium relationship respectively. The empirical results of the study shows that a devaluation of the Naira has a negative impact on the performance of the Nigerian manufacturing sector as it was found that exchange rates has a negative significant relationship, long run relationship and causal relationship with the performance of the sector. It was also ascertained from the results that inflation rates(INF), and capacity utilization rates(CUR) have a positive significant relationship with the performance of the sector, while exchange rates, imports(IMP) and manufacturing foreign direct investment(MFDI) have a negative significant relationship with the performance of the Nigerian manufacturing sector. The results of the analysis showed that the independent variables have a significant relationship with the R2 at 64.5%