The influence of accounting information disclosure on foreign direct investment in nigerian listed companies / Oyerogba Ezekiel Oluwagbemiga.

Reduction of information asymmetry is of interest to the investors, standard setters, financial analysts and other users of financial statement. However, the extent to which adoption of international financial reporting standard improved the quality of disclosure of accounting information in the financial statement and whether the disclosure of accounting information results into an increase in the inflow of foreign direct investment into any developing economy is uncertain. The study used publicly disclosed information in audited financial statement to investigate the link between accounting information disclosure and foreign direct investment in Nigerian listed companies. Using both descriptive statistics and inferential statistics on a sample of 142 companies drawn from the 186 companies listed on the Nigerian stock exchange with a total of 710 observations, the study document that disclosure of accounting information does not have a significant influence on the flow of foreign direct investment. Also, adopting a multivariate regression analysis, was found that foreign investors paid less attention to overall accounting information disclosure. It is also evident that they did not pay a keen interest to the equity information, cashflow information, segment information and dividend information

Risk Disclosure In The Published Financial Statements And Firm Performance: Evidence From The Nigeria Listed Companies

The purpose of this study was to investigate the effect of risk disclosure in the published financial statement on the performance of listed companies in Nigeria. Specifically the study investigated on the effects of operational risk disclosure, financial risks disclosure and strategic risks disclosure on the performance of listed companies in Nigeria. This study adopted a descriptive design which is described as a method of collecting information by interviewing or administering a questionnaire to a sample of individuals. The instrument of data collection for this research was a questionnaire as the study used primary data. The study targeted all the 258 listed companies in Nigeria.  The sample of this study was 258 risk managers as the researcher issued one questionnaire per company. Descriptive statistics such as mode, median, mean, standard deviation, etc were used to perform data analysis. These measures were calculated using Statistical Package for the Social Sciences (SPPS 20) software. SPSS tool (Statistical Package for the Social Sciences) was used to organize and analyze data. The study findings indicated that there was increase in performance of listed firms due to risk disclosure in the financial statement. The results indicate that the variables; operational risk disclosure, financial risks disclosure and strategic risks disclosure were satisfactory in explaining performance of listed companies. This conclusion is supported by the R square of 0.655. This means that the combined effect of the predictor variables (operational risk disclosure, financial risks disclosure and strategic risks disclosure) explains 65.5% of the variations in performance of listed companies in Nigeria.  The results reveal that operational risk disclosure, financial risks disclosure and strategic risks disclosure are statistically significant in explaining performance of listed companies. Key Words: Risk Disclosure, Performance, Financial Statement, Accounting Information, Operational Risk, Financial Risk, Strategic Ris

Perceived Relationship between Corporate Capital Structure and Firm Value in the Kenyan Listed Companies

The purpose of this study was to establish the perceived relationship between corporate capital Structure and Firm value in the Kenyan Listed Companies. The study employed an explanatory research design. The population of the study consisted of 61 companies listed on the NSE. The sample size for this study was made up of 35 listed companies excluding the financial companies, Investment and Insurance companies due to their peculiar nature of capital structure. The study relies on Secondary data sourced from annual audited financial statement of the firms listed on Nairobi Securities Exchange. The study utilized descriptive and regression analysis to determine the relationship between corporate capital structure and firm value of the Kenyan listed companies. The study results were that companies used more debt as a source of financing its assets than equity capital. The regression results indicated that there was a positive relationship between capital structure, size of the firm, liquidity, growth opportunity and firm value. Therefore, the higher the debt to equity ratio, the higher the firm value. The unique contribution of this paper is that it reduces the lack of conclusiveness on the debate about the relationship between corporate capital structure and firms value. The study recommended the listed companies in Kenya to engage strategic investors to shore up their debt capital and also recommended that the equity share holder should be substituted for debt share holding in future. This would bring about improved firms value. Keywords: Corporate capital Structure, Firm value, Finance, Growth Opportunity, Liquidit

Impact of Board Size and Firm’s Characteristics on the Profitability of Listed Companies in Nigeria

The impact of board size on the profitability of firm was empirically examined in this study for the listed companies in Nigeria for a period of ten years ranginging from 2004 to 2013. Specifically, the study investigated the impact of board size, firm size and firm age on return on capital employed of the selected companies. The study relied on the secondary data extracted from the audited financial statement of a sample of 70 companies purposefully selected from the 198 listed companies in Nigeria. Both descriptive and inferential statistics were carried out. The results revealed that a significant positive relationship exists between the board size, firm size and return on capital employed. It was therefore recommended that listed companies should adopt the use of large board (12 members) to improve the profitability. It is also needful for the listed companies to increase the capital based as this was found to have positive impact on the profitability of listed companies in Nigeria while the policy makers are encouraged to provide adequate guidelines on the selection of board members. Keywords: Return on Capital Employed, Board Size, Firm Size, Firm Age, Profitabilit

Effect of Accounting Information on Investment in Nigerian Poultry Agricultural Sector

The purpose of this study was to establish the effect of accounting information on investment in Nigerian Poultry Agricultural Sector. Specifically the study investigated on the effects of profitability, gearing ratio and growth opportunity on investment in Nigerian agricultural sector. This study adopted a descriptive design which is described as a method of collecting information by interviewing or administering a questionnaire to a sample of individuals. The instrument of data collection for this research was a secondary guide as the study used secondary data. The study targeted all the investors in the industry.  The sample of this study is 68 investors because the target population is infinite. Descriptive statistics such as mode, median, mean, standard deviation, etc were used to perform data analysis. These measures were calculated using Statistical Package for the Social Sciences (SPPS 20) software. SPSS tool (Statistical Package for the Social Sciences) was used to organize and analyze data. The study findings indicated that there was increase in number of investments in agricultural sector in Nigeria for the last three years. The results indicate that the variables; profitability, gearing ratio and growth opportunity were satisfactory in explaining investment. This conclusion is supported by the R square of 0.885. This means that the combined effect of the predictor variables (profitability, gearing ratio and growth opportunity) explains 88.5% of the variations in investment in agricultural sector.  The results reveal that profitability, gearing ratio and growth opportunity are statistically significant in explaining investment in agricultural sector in Nigeria. Key Words: Accounting information, Investment, Gearing Ratio, Opportunit

Firm culture and management accounting practices among manufacturing firms in Nigeria

This study sought to find out the effects of firm culture on management accounting practices (MAPs). The study used a structured questionnaire to collect data from 220 randomly selected manufacturing firms out of 514 firms and used logistic regression for analysis. This study examined seven dimensions of firm cultures, including innovation/risk orientation culture, people orientation culture, outcome orientation culture, aggressive culture, stability culture, team-based culture, and attention to details culture. The study established that team-based, attention to details, and stability cultures have a significant influence on the choice of management accounting practices. In contrast, the considerable influence of other cultural dimensions lacks statistical support. The study concludes that attention to details culture and team-based culture are barriers to modern management accounting practices, and cautions should be exercised by managers in using these cultures. Therefore, this study recommends that manufacturing firms in Nigeria should be cautious of their culture and its implication on MAPs. In a more specific term, they should practice cultures that will allow them to choose modern MAPs and take advantage of the benefits attached