RELATIONSHIP BETWEEN DEBT RATIO AND FINANCIAL PERFORMANCE OF NIGERIAN QUOTED COMPANIES

This study examined the relationship between debt ratio and financial performance of selected Nigerian quoted. This research work also examined whether asset turnover is related firm financial performance as well as whether asset tangibility is related firm financial performance. Data for the period of five years (2011-2015), sourced from the annual reports of the quoted companies was used in carrying out the analysis. The variable used werey debt ratio , assets turnover, assets tangibility, and financial performance (i.e. profitability) is proxied by return on assets.STATA software was engaged in performing the correlation and regression analysis. The study detected that from the regression analysis that debt ratio and financial performance are positively and significantly related. The result also revealed that asset turnover and financial performance are negaitively and but not significantly related whlie assets tangibility and financial performance are positively and significantly related

THE IMPACT OF INTERNAL AUDITING ON THE PERFORMANCE OF THE NIGERIAN BANKING INDUSTRY: CASE STUDY OF FOUR BANKS

The existence of internal audit function is very important to any organization and to a large extent; this study has been able to establish that a relationship exists between internal auditing and bank performance. In Consistency with previous studies, this study provides a widespread of literatures and ideas on the relationship between internal audit and bank performance. This study is concerned with internal auditing and how it affects the performance of banks and it was executed by selecting four banks as case studies, specifically old generation banks and new generation banks. The outcomes of this study creates cognizance as to how internal auditing affects the performance of banks, thereby bridging the gap between internal auditing activities and internal audit performance-driven activities. The method of data collection was carried out through the administration of questionnaires; a total number of seventy-four (74) questionnaires were retrieved and analyzed using tables and simple percentages. The three hypothesis formulated were also tested using the one way T test. The findings show that internal auditing does influence bank performance. As a result of the extensive study carried out, the researcher and correspondents made a series of recommendations of which they pointed out that only qualified auditors should be appointed to carry out any audit activity so it can be done effectively, the banks in return should provide accurate information for the auditors and before any appointment of an auditor, the legitimacy of the internal auditors resume should be properly checke

DIRECTORS’ COMPENSATION AND PERFORMANCE OF SELECTED QUOTED FIRMS

This study focused on examining the relationship between directors’ compensation and firm performance using selected general insurance companies as a case study. The main objective was to investigate the relationship that exists between directors’ compensation and firm performance. Eight general insurance companies which were listed in Nigeria Stock Exchange (NSE) were studied. The study covered a five (5) years period of 2009-2013. The time frame used considered the recapitalization in the insurance industry that occurred in 2007. The research made use of secondary data which were collected from the published annual reports of the eight (8) general insurance companies under study. The data was analyzed using the regression analysis. The results from the analysis led to the major findings of the study. Return on Assets (ROA) and net claims paid (NC) were used to establish a relationship between with directors’ compensation. The results show that there is a significant relationship between annual directors’ compensation and firm performance of the general insurance companies under study. The relationship with return on assets showed a significant but negative relationship, while that of net claims paid was significantly positive. The study suggests that efforts to improve the payments of claims should focus on compensation directors satisfactorily. However, proper care should be taken in making such decisions as the Journal of Social Sciences and shareholders; value may be affected due to the negative relationship between directors’ compensation and return on assets

INVESTMENT DECISION AND PROFITABILITY IN BREWERY INDUSTRY (A CASE STUDY OF NIGERIA BREWERY PLC)

One of the problems faced by companies is that of making investment decisions. Since resources such as men, materials and money are limited, it therefore means that companies must have certain objectives in mind to enable them make rational decisions. The principal aim of this research work is to examine the rationale behind selecting various types of investment open to companies vis-à-vis choosing that alternative course of action that yield the greatest future benefits. This project is primarily concerned with the strategies or techniques available to companies for evaluating investment proposals in relation to their expected return and risk in order to create and add value to the business. It was found in the study that various types of investment decisions are open to a company and that investment projects are carried out based on the cost and the funds available to the company. Also there are various techniques for measuring the payoffs from these projects. Finally, the project yields useful suggestions on how companies can improve their decisions on investment and thus their level of profitability

DIVIDEND POLICY AND CORPORATE GOVERNANCE REGULATION AND PRACTICE IN NIGERIAN BANKS

This research examines impact of corporate governance regulation and practice on dividend policy using case study of First and Zenith Bank. The objective of this research is to examine, investigate and evaluate if and how corporate governance regulation and practice affect or influence dividend policy in banks. This research adopted a mixed method approach that is using both qualitative and quantitative approach. The research instruments used in data analyses were descriptive analyses, chi-square and multiple linear regressions. The findings in this research were; corporate governance regulation and practice has impact on dividend policy, non-executive directors are very essential in dividend policy decisions as to whether they pay or do not pay dividends, that corporate governance disclosure, board size and size of executive directors are major contributors to the dividend policy adopted and that dividend payments can be used as a corporate governance measure to reduce agency cost. This research re-validates and supports the use of agency theory that major studies regarding corporate governance support. This research also supports that corporate governance regulation and practice have impact on dividend policy. This research shows that Nigeria can rely on the details in this research

EUROPEAN CORP ORATE GOVERNANCE SYSTEMS: A SURVEY OF LITERATURE

This paper examined the corporate governance systems of selected European countries, based on the German’s stakeholder model to see if it offers shareholders better deal particularly after the Enron and WorldCom affairs in 2001 and the Global banking and financial meltdown that occurred between 2009 and 2011. The Anglo-American system of corporate governance is based on profit maximisation which claims to protect the interests of shareholders who are the owners of the corporation through share ownership. Whereas, the German model which is seen as the stakeholder's system considers that corporations are run for the benefits of its stakeholders who contribute to the achievements of the corporation. There are persuasive arguments for and against each model. An assessment of the corporate governance systems of four European countries found that there is no “one-size-fits-all” regarding corporate governance practices of these countries. As each country’s corporate governance system is underpinned by some factors relevant to that country such as law, regulation, types of business organisations and ownership structures. The study further shows that the increased globalisation of business has so far not resulted in global corporate governance systems. If corporate governance regulation is to comb or limit unethical practices of some of the global businesses, then there is a good argument for global corporate governance system

Assessment of the Effectiveness of Ethical Corporate Governance in Corporate Decision-Making: A Grounded Theory Approach

The article focused on the effectiveness of ethical corporate governance in decision making by the board of directors of top listed companies. Through the application of grounded theory approach in analysing data collected via the survey questionnaire, a substantive theory of ethical corporate governance is developed. The substantive theory developed is based on the shareholdership model of empowerment to create wealth and stakeholdership model of expectation to shared values. In term of ethical corporate governance, through organisations code of conduct and corporate social responsibility policies, companies can reach out to their broader stakeholdership groups through engagement with stakeholders. Such engagement is ongoing with shareholdership groups through boards’ accountability to shareholders — the finding from this study further our understanding of ethical corporate governance issues

Assessment of the Effectiveness of Ethical Corporate Governance in Corporate Decision-Making: A Grounded Theory Approach

The article focused on the effectiveness of ethical corporate governance in decision making by the board of directors of top listed companies. Through the application of grounded theory approach in analysing data collected via the survey questionnaire, a substantive theory of ethical corporate governance is developed. The substantive theory developed is based on the shareholdership model of empowerment to create wealth and stakeholdership model of expectation to shared values. In term of ethical corporate governance, through organisations code of conduct and corporate social responsibility policies, companies can reach out to their broader stakeholdership groups through engagement with stakeholders. Such engagement is ongoing with shareholdership groups through boards’ accountability to shareholders — the finding from this study further our understanding of ethical corporate governance issues