Effects of Corporate Governance on Corporate Social and Environmental Disclosure among Listed Firms in Nigeria

This study examined the effects of corporate governance (CG) mechanisms on corporate social and environmental disclosure (CSED) among firms listed on the Nigerian Stock Exchange. Forty firms were selected for the study using judgmental sampling technique. A content analysis of information in the corporate annual reports and websites of the selected firms for the period 2006-2010 provided data for the study. CSED was measured using 50 items of information and CG mechanisms examined were CEO duality, Board size, proportion of nonexecutive directors and audit size. Data obtained were analyzed using correlation and regression analysis. Findings revealed a significant negative relationship between CEO duality and CSED; and significant positive relationships between proportion of non- executive directors, board size, audit size and CSED. The study concluded that an effective board with higher number of non executive directors (independent directors) and larger size and higher quality audits will be more supportive of firms disclosing a wider range of information to stakeholders including social and environmental information

The design and use of performance measurement innovations and organizational outcomes in Nigerian listed companies

Performance measurement innovations (PMI) provide frameworks for the improvement of organizational performance. While developed economies have widely accepted PMI, little is known about their design and use in developing economies. This study aimed to investigate the relationship between the design and use of PMI and organizational outcomes among listed firms in Nigeria. Partial least squares structural equation modeling was adopted for the analysis using cross-sectional survey data comprising 126 corporate managers in the sampled listed companies. The results showed that all the path coefficients for design of PMI and customer perspective (β = 0.325, p < 0.0001), financial (β = 0.314, p < 0.0001), internal business process (β = 0.346, p < 0.0001), and learning and growth perspectives (β = 0.367, p < 0.0001) were significantly positive. This suggests that designing performance measures to include a diversity of measurement incorporating financial and non-financial measures would positively affect organizational outcomes. Besides, diagnostic use was found to have a negative effect on customer perspective (β = –0.315, p < 0.01), while the interactive use (β = 0.411, p < 0.01) of PMI demonstrated a positive effect on it. This implies that using PMIs in a diagnostic manner brings about a negative image of the customer perspective, but it is divergent for interactive us

MANDATORY ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) BY NIGERIAN LISTED BANKS: ANY IMPLICATION FOR VALUE RELEVANCE?

In January 2012 Nigeria adopted IFRS. Sequel to that adoption, the pressing question agitating the minds of researchers as well as other stakeholders in financial reporting is whether the mandatory adoption of IFRS has given rise to an enhanced value relevance (or quality) of financial information in Nigerian banks. To address this, we relied on the fundamental Ohlson (1995) model which has also been severally employed in prior researches. By means of criterion based sampling technique, we selected 13 out of the 21 listed commercial banks in Nigeria for our study. Our findings revealed that Book Value of Equity (BVE) and Earnings per Share (EPS) are positively associated with share price. We also observed that BVE is less associated with share price than EPS. We recommended inter alia that sustainable development of Nigerian Stock Exchange (NSE) can be boosted through credible financial information. When the integrity of the Financial Report is being threatened, investors (both local and international) are likely to shun or shrink from investing adequately in Nigerian Capital Marke