Relationship between ownership concentration and financial performance of deposit money banks in Nigeria: Does a turning point exist? / Junaidu Muhammad Kurawa, and Umar Habibu Umar

This study seeks to establish a non-linear relationship between ownership concentration and financial performance of the listed Deposit Money Banks (DMBs) in Nigeria. The data were extracted from the annual reports and accounts of six (6) sampled DMBs from 2003 to 2014. A panel data regression technique was used to analyse the data collected. The study establishes that the relationship between ownership concentration and the financial performance of listed DMBs in Nigeria changes from negative to positive when the ownership concentration reaches 54.94%. This signifies that the relationship between ownership concentration and financial performance is negative if the concentration is below 54.94%. On the other hand, the relationship is positive if it is concentrated above 54.94%. Hence, it is recommended that the ownership of DMBs should not be concentrated below the cut-off point (54.94%) with the view to earning profits

The Impact of Free Cash Flow on the Profitability of the Listed Industrial Goods Companies in Nigeria: The Moderating Effects of Managerial Ownership

This study examined the moderating effects of managerial ownership on the relationship between free cash flow and the profitability of listed industrial goods companies in Nigeria. The study employed non-survey research design, using a sample size of eleven (11) companies from a total population of thirteen (13) listed industrial goods companies on the Nigerian Stock Exchange (NSE) with data extracted from the annual reports and accounts of the sampled companies for a period of eleven years from 2010 to 2020. Data was analyzed using descriptive statistics to provide a summary for the variables and correlation analysis carried out using the Pearson correlation technique. The analyses were done using STATA software version 14. The study found out that free cash flow had a significant and positive effect on profitability. On the moderating effect of managerial ownership on the relationship between free cash flow and profitability, it was found out that R2 increased from 2.66% to 8.16% in the model when the managerial ownership was introduced and is also significantly positive. Thus, managerial ownership moderates the relationship between free cash flow and profitability. Thus, this study recommends that the managers of the sampled companies in Nigeria should use excess cash flow to generate profit rather than hold up money in anticipation of future opportunities for the ultimate betterment of the firm and shareholders. Investors should choose companies that have excess free cash flows as well as managerial ownership, which would have a positive impact on the performance of sampled companies in Nigeria. Keywords: Free cash flow, Managerial ownership, Profitability, Industrial goods companies in Nigeria DOI: 10.7176/RJFA/14-10-08 Publication date:May 31st 202

Do behavioral, educational, and legal factors determine the applicability of forensic accounting in the public sector?

This study examined the impact of educational, legal, and behavioral factors on the applicability of forensic accounting in the public sector in Nigeria. The study utilized primary data through the administration of questionnaires to accountants the internal and external auditors drawn from seven states of the North-Western geo-political zone of Nigeria. Partial Least Squares (PLS) path modeling using smart PLS3 Statistical Software was employed for the analysis. The findings indicated that behavioral, educational, and legal factors are positively related to the applicability of forensic accounting in the states. The results revealed the importance of giving special consideration to educational, legal, and behavioral factors to ensure the successful application of forensic accounting to deter and detect corruption and other fraudulent activities in Nigeria. The study shows how educational and professional institutions would assist in the promotion of the awareness, knowledge, and skills of forensic accounting