Corporate Governance and Bank Performance: A case of the Nigerian Financial Sub- Sector

This study examined the link between company governance and its fiscal returns, using director's stock ownership, in the Nigerian banking sector. The 2009 banking scandals and their aftermath effects in the Nigerian banking sector, which arose from poor corporate control, amongst other factors, paved the way for research in this discourse, its importance has attracted attention over time, and even in the 21st century. Directors’ stock ownership was used to proxy company governance, with leverage, liquidity, and corporate size controlled for. Firm performance was proxy by Returns on Asset with keen interest on deposit money banks. This study used a purposive sampling technique of fourteen (14) deposit money banks from 2014 – 2018 as the sample of the study, which was sourced from the Nigeria Stock Exchange (NSE) annual publication 2018. The Panel Least Squares methodology was employed to examine the variables and their effects. The panel Fixed Effect as selected by the Hausman test result shows that director’s stock ownership and liquidity were statistically significant on banks' returns in Nigeria, while leverage and corporate size have no significant consequence on banks performance in Nigeria during the period under review. To this end, the study suggests that; the regulatory bodies should strengthen the corporate governance framework to improve bank performance in Nigeria. Secondly, strategies should be put in place to boost up liquidity level to enhance more liquidity for its effect to remain positive and significant to bank's performance in Nigeria

Forensic Accounting and Incidence of Fraud Detection: Evidence from Nigeria

The study described and explained forensic accounting and the incidence of fraud detection in Nigeria. The objectives of this study were to identify personal skills requirements and, assess the types of investigative techniques used in forensic accounting. A literature review was conducted to set up the conceptual and theoretical framework for the study. A quantitative approach was used by administering a structured questionnaire. A total of 101 investigators from Economic and Financial Crimes Commission (EFCC) were used as sample for the study. We employed Jarque Bera statistics to conduct the analysis using the E views software. There is a significant relationship between forensic accounting personal skills; investigative techniques and fraud detection in Nigeria. The scope of the study was only in Nigeria and all samples were drawn from the Economic and Financial Crimes Commission (EFCC). The study concluded despite all fraudulent activities, forensic accounting is proffering solutions for fraud prevention and detection in Nigeria.  It was recommended for practitioners to engage in further training on forensic accounting personal skills and techniques

Growth versus value investing: a case of Nigerian Stock Market

At a time, the Nigeria Stock Exchange (NSE) is generally undergoing bearish trends; the paper investigated the performance of eighty-eight (88) sampled stocks, which were screened with the modern Price Earnings Growth (PEG) ratio into the Growth and the Value Portfolios. This is to ascertain whether the Value Portfolio outperformed the Growth Portfolio in terms of returns. From the researches in the developed and emerging stock markets, the momentum supports that the Value Portfolio outscored the Growth Portfolio in terms of returns. The paper explored pooled data from the Factbooks of the Nigerian Stock Market and the Annual Reports across different industries from 1990 to 2016. Descriptive methods and Arellano and Generalized Methods of Moment (GMM) xtabond2 were adopted to address the outliers, reverse causality and other related consequences of panel data. Similar to the findings from the developed and emerging stock markets, the study recognized that the Value Portfolio over-performed the Growth Portfolio in terms of returns in the NSE. Therefore, it is recommended that rational investors should show more preferences to invest in low-priced Value Stocks to earn higher returns than the high-priced Growth Stocks, which generated lower returns in the NSE

Portfolio selection strategies and cognitive psychology biases: a behavioral evidence from the Nigerian equity market

The empirical evidence in the developed equity markets such as the United States, the United Kingdom, Germany, Japan and emerging markets had pronounced that there are institutional and individual investors’ cognitive psychology and mental biases in favor of the Growth Stocks, that is, the Growth Stocks are always preferred to the Value Stocks by the investors. The investors most times prefer the Growth Stocks to the Value Stocks irrespective of the stock fundamentals behavior in the equity market. The paper investigated whether Cognitive Psychology and Mental biases affect Portfolio Selection strategies using the Growth or the Value Stocks investment styles in the Nigerian Stock Market. In the study, the summary of the primary data was described and Multinomial Logistic Regression (MLR) models were adopted to make inferential decisions. The paper collected primary data through questionnaire administered to individual and institutional investors on the floor of Nigeria Stock Exchange (NSE). The findings from the analyses conducted confirmed a strong existence of Cognitive Psychology and mental biases in favor of the Growth Stocks in the Nigerian Equity Market. Investors had more belief in Growth Stocks than the Value Stocks notwithstanding the behavior of the market fundamentals. The study recommended that investors should seriously consider occurrences and performance fundamentals in Portfolio Selection in the Nigerian Equity Market

Health financing reform in Kenya- assessing the social health insurance proposal

Kenya has had a history of health financing policy changes since its   independence in 1963. Recently, significant preparatory work was done on a new Social Health Insurance Law that, if accepted, would lead to universal health coverage in Kenya after a tr&nsition period. Questions of economic  feasibility and political acceptability continue to be discussed, with   stakeholders voicing concerns on design features of the new proposal   submitted to the  Kenyan parliament in 2004. For economic, social, political and organisational reasons a transition period will be  necessary, which is likely to last more than a decade. However, important objectives such as access to health care  and avoiding impoverishment due to direct health care payments should be recognised from the start so that  steady progress towards effective universal coverage can be planned and achieved

Corporate Governance and Bank Performance: A case of the Nigerian Financial Sub- Sector

This study examined the link between company governance and its fiscal returns, using director's stock ownership, in the Nigerian banking sector. The 2009 banking scandals and their aftermath effects in the Nigerian banking sector, which arose from poor corporate control, amongst other factors, paved the way for research in this discourse, its importance has attracted attention over time, and even in the 21st century. Directors’ stock ownership was used to proxy company governance, with leverage, liquidity, and corporate size controlled for. Firm performance was proxy by Returns on Asset with keen interest on deposit money banks. This study used a purposive sampling technique of fourteen (14) deposit money banks from 2014 – 2018 as the sample of the study, which was sourced from the Nigeria Stock Exchange (NSE) annual publication 2018. The Panel Least Squares methodology was employed to examine the variables and their effects. The panel Fixed Effect as selected by the Hausman test result shows that director’s stock ownership and liquidity were statistically significant on banks' returns in Nigeria, while leverage and corporate size have no significant consequence on banks performance in Nigeria during the period under review. To this end, the study suggests that; the regulatory bodies should strengthen the corporate governance framework to improve bank performance in Nigeria. Secondly, strategies should be put in place to boost up liquidity level to enhance more liquidity for its effect to remain positive and significant to bank's performance in Nigeria

Coercion or Cost-Decrease: Why Do Firms Pay Influences?

It has been observed that Firms Influence Government Authorities by paying Bribe to them. This paper examines how gift is related with the potential for the firm to discover legitimate government authorities. This paper attempts to ascertain why firms pay bribes. More specifically, does it appear that firms are being extorted or is it more likely that they are using bribes as a tool to avoid regulation? In the event that organizations that report more prominent chances to discover government authority pay bribe, at that point this is an indication that rewards originated from coercion in light of the fact that the nearness of such authorities ought not make any difference for firms needing to pay bribe to reduced costs. We find out that influences emerge because of coercion in spite of the fact that result fairly debilitate in the most current study. If corrupt individuals are more likely to enter into environments that allow them to extract bribes, then honest could be endogenous and driven by the prevalence and magnitude of bribery