Company fundamentals and stock price movements: The role of crude oil prices – Evidence from Nigerian Stock Exchange (NSE)

This study analyzed company fundamentals on how it relates and predict stock price movements and the extent of the role of oil prices in moderating the influence of these company fundamentals in stock price movements. The study covered the period of 2014 to 2018. The study is a panel study. A total of 132 companies were sampled from 196 companies listed on the Nigerian Stock Exchange (NSE) as of December 2018. Data were collected from a secondary source. Multiple linear regression models were used to analyze the data. The study found that a relationship exists between selected companies' fundamentals and stock prices, and oil prices moderate the relationship. But EPS and Working Capital have high predictive power on stock price movements but moderating with oil prices the influence reduces significantly. The study recommends among others that Managers of companies in Nigeria should formulate policies and exert effort geared towards improving company fundamentals in the event of oil prices increases

Genomic signatures for drylands adaptation at gene-rich regions in African zebu cattle

BackgroundIndigenous Sudanese cattle are mainly indicine/zebu (humped) type. They thrive in the harshest dryland environments characterised by high temperatures, long seasonal dry periods, nutritional shortages, and vector disease challenges. Here, we sequenced 60 indigenous Sudanese cattle from six indigenous breeds and analysed the data using three genomic scan approaches to unravel cattle adaptation to the African dryland region.ResultsWe identified a set of gene-rich selective sweep regions, detected mostly on chromosomes 5, 7 and 19, shared across African and Gir zebu. These include genes involved in immune response, body size and conformation, and heat stress response. We also identified selective sweep regions unique to Sudanese zebu. Of these, a 250 kb selective sweep on chromosome 16 spans seven genes, including PLCH2, PEX10, PRKCZ, and SKI, which are involved in alternative adaptive metabolic strategies of insulin signalling, glucose homeostasis, and fat metabolism.ConclusionsOur results suggest that environmental adaptation may involve recent and ancient selection at gene-rich regions, which might be under a common regulatory genetic control, in zebu cattle

Genomic signatures for drylands adaptation at gene-rich regions in African zebu cattle

BackgroundIndigenous Sudanese cattle are mainly indicine/zebu (humped) type. They thrive in the harshest dryland environments characterised by high temperatures, long seasonal dry periods, nutritional shortages, and vector disease challenges. Here, we sequenced 60 indigenous Sudanese cattle from six indigenous breeds and analysed the data using three genomic scan approaches to unravel cattle adaptation to the African dryland region.ResultsWe identified a set of gene-rich selective sweep regions, detected mostly on chromosomes 5, 7 and 19, shared across African and Gir zebu. These include genes involved in immune response, body size and conformation, and heat stress response. We also identified selective sweep regions unique to Sudanese zebu. Of these, a 250 kb selective sweep on chromosome 16 spans seven genes, including PLCH2, PEX10, PRKCZ, and SKI, which are involved in alternative adaptive metabolic strategies of insulin signalling, glucose homeostasis, and fat metabolism.ConclusionsOur results suggest that environmental adaptation may involve recent and ancient selection at gene-rich regions, which might be under a common regulatory genetic control, in zebu cattle

INTERACTIVE EFFECT OF AUDIT FIRM AND AUDIT COMMITTEE MEDIATED BY AUDIT PROCESS ON FRAUDULENT FINANCIAL REPORTING RISKS OF LISTED FIRMS IN NIGERIA

The study examines the Interactive Effect of Audit Firm and Audit Committee Mediated by Audit Process on Fraudulent Financial Reporting Risks of Listed Firms in Nigeria. The population of staff working in audit firms in Nigeria is unknown. Therefore, sample size of unknown population for this survey study is calculated using g*power which minimum sample size is 384 respondents. A model of questionnaire is adopted from research conducted and 500 copies of adopted questionnaire which contains 31 items were administered to audit staff and 391 copies were returned. The questionnaire was the main instrument for data collection and adopted a nine-point scale. The study is multivariate in nature so structural equation modelling is employed and smartpls 3 is used for the analysis. However, the result shows that Audit Firm and Audit committee have significant positive effect on Fraudulent Financial Reporting of Listed Firms in Nigeria. In addition, Audit Firm has significant positive effect on audit process of Listed Firms in Nigeria Similarly, Audit process has significant mediating effect on the relationship between Audit committee and Fraudulent Financial Reporting of Listed Firms in Nigeria.And Audit committee has significant positive moderating effect on the relationship between audit firm and fraudulent financial reporting risks of Listed Firms in Nigeria.However, Audit committee has significant negative effect on audit process of Listed Firms in Nigeria. In addition,Audit process has significant negative mediating effect on the relationship between Audit Firm and Fraudulent Financial Reporting of Listed Firms in Nigeria. Similarly, Audit committee has significant negative moderating effect on the relationship between audit firm and audit process of Listed Firms in Nigeria. Base on the conclusion, the study recommends that both the audit committee and external auditors should focus their attention on improving the audit process which in turn will significantly curb the fraudulent financial reporting risks of listed Firms in Nigeria