Department of Management & Accounting

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Department of Management and Accounting

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    Asset Quality, Capital Adequacy and Financial Performance of Deposit Money Banks in Nigeria
    (Lead City University, 2023-12) Lukman AyodejiOSHO
    The performance of a banking institution is largely driven by its ability to increase its customers’ patronage, retain them and manage its assets and liabilities to enhance optimal returns.This can be done through banks maintaining adequate capital and quality assets for better performance. In Nigeria, in spite of the fact that banks are highly regulated since 1988, many banks have failed due to insufficiency of capital and mismanagement of funds. Assets quality of deposit money banks and capital adequacy over time has been compromised. Increase in the level of gross non-performing loans pause a great risk to banks, the financial sector and the economy at large. Equally, failure to manage down non-performing loans over a long period gradually affects financial performance of deposit money banks. Non- performing loan profile in the DMBs in Nigeria is rising, and has been identified as a disturbing trend.It thus imperative to ascertain the effect of capital adequacy in the financial performance of Deposit Money Banks (DMBs) in Nigeria. This study employed ordinary least square regression analysis with emphasis on pooled effect, fixed effect and random effect model. The findings of this research revealed that non-performing loans has a negative non significant effect on financial performance of DMBs in Nigeria having a coefficient = - 0.022478 and P value of 0.5462. Loan loss provisions has a negative significant effect on financial performance of DMBs in Nigeria having a coefficient = -0.002954 and P value ofn 0.0054. Risk weighted assets has a positive significant effect on financial performance of DMBs in Nigeria having a coefficient = 0.067768 and P value of 0.0034. Liquidity ratiohaving a coefficient = 0.000435 P value of 0.0034 has a positive significant effect on financial performance of DMBs in Nigeria. Moderating variable bank size (BS) has a negative non-significant effect on the effect of non-performing loans, loan loss provisions, risk weighted assets and liquidity ratio on the financial performance of deposit money banks in Nigeria. The study concluded that asset quality and capital adequacy are key factors affecting the financial performance of the Nigeria Deposit money banks and are essential in measuring financial performance of financial institutions while size has no effect on financial performance of the Nigeria Deposit money banks. The study, therefore, recommended that banks should put in place rigorous credit risk management policies in order to stem the increase in NPLs associated with increased lending. The CBN should ensure compliance by adequately monitoring compliance to policy on loan loss limits in relation to provisions. Central Bank of Nigeria should effectively regulate the capital and the resources owned by the Deposit Money Banks (DMBs) in Nigeria by ensuring that a certain level of capital is kept with the Central Bank for financial soundness and stability. Bank officials should be trained in the areas of liquidity management and liquidity changing conditions should not be handled with levity. The banks should reduce their non-performing loans by appropriate credit policies and procedures and should consider other quantitative and qualitative approaches of profit improvement than bank size. 5 Keywords: Assets Quality, Capital Adequacy, Bank size, Financial Performance, Return on Assets Word Count: 502
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    Asset quality, Internal Control System and Profitability of Deposit Money Banks in Nigeria
    (Lead City University, 2022-12) Oluseyi Abraham OLAYINKA
    Banking industry has witnessed several changes in the last decade from partial to full digital transformation which improved their customer engagement especially in the area of granting loans with implications on their profitability. This study investigated the effect of asset quality on the profitability of Deposit Money Banks (DMBs) in Nigeria and the moderating effect of internal control system on the interaction between asset quality and profitability of banks. Dearth of study that combines asset quality relevance and internal control system in one study to address profitability of DMBs in Nigeria was the gap filled. The study was anchored on Liabilities Management theory. Four research questions and hypotheses were formulated. The study adopted ex-post facto design which entails the utilization of historical data to forecast future trends. Inferential statistics adopted econometrics models with panel data using pooled ordinary least square, Fixed and Random effects Regression models. The population comprises of twenty three DMBs in Nigeria. Sample size consisted of seven banks based on the problem identified in this study. The results showed that asset quality has significant effect on Return on asset (F = 10.89, p =0.001<0.05, R2=0.434); Return on Equity (F= 4.442, p =0.004< 0.05, R2=0.235); no effect on Return on Capital Employed (F= 1.193, p =0.069>0.05, R2=0.068), Internal Control System has no moderating effect on the interaction between asset quality and profitability of DMBs(F= 1.013, p =0.071>0.05, R2=0.066). The study concluded that asset quality has effect on the profitability of DMBs and there is no moderating effect of internal control system between asset quality and profitability. It was therefore recommended amongst others that banks should review their credit policy regularly that will reduce non-performing loans and the DMBs should also restrategise their policy on deposit mobilization that will minimize the impact of Payment Service Banks (PSBs). Keywords: Asset Quality, Deposit Money Banks, Internal Control System, Loans, Profitability, Word Count : 297
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    Audit Quality and Financial Performance of Listed Nigerian Money Deposit Banks in Nigeria
    (Lead City University, 2023-12) Isaiah Adeoluwa TADE
    Many countries' economies may not grow to their current levels without the banking sector's function as financial mediators connecting surplus and deficit economic agents. Therefore, it remains a significant global phenomenon for corporate organisations to continuously achieve improvement in corporate performance. However, in Nigeria the ripple effect of the financial crisis, economic recession and economy recovery policies both from the Federal government and the CBN have created tougher times for many Nigerian business including banks and this has negatively affected the performance of the banking sector in the country. To address these issues in the Nigeria’s banking sector for the better, both the industry regulator and banking experts suggested that the banks corporate parent needs to conduct audit assignment with an assurance of the high audit quality can be used as a framework to address the many challenges. Hence, on the strength of the signalling and agency theories, this study examined the effects of audit quality on financial performance of DMBs in Lagos State. The study adopted an ex-post facto research design by utilizing secondary data obtained from the selected quoted banks annual reports, using time series data from 2016 to 2021. The study adopted correlation analysis and ordinary least square regression analysis to test the hypotheses formulated. The findings of the study revealed that all the dimensions of audit quality have positive and significant relationship with the financial performance. Moreover, audit quality has positive and significant effect on financial performance of DMBs in Lagos ria ((R 2= 0.76, p= 0.000). The study concluded that audit quality do have effect on financial performance of listed DMBs in Nigeria. Therefore, it is imperative for management of DMBs to see that quality audit engagement is critical for the long-term sustainability of their establishment. Keywords: Audit quality, Deposit Money Banks, Financial Performance. Word Count: 300
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    Audit Quality, Forensic Accounting Techniques, and Value Relevance of Accounting Information of selected Companies in Nigeria
    (Lead City University, Ibadan, 2024-12) Oluwakemi Adefisayo ADEJUWON
    The study reviewed the effect of audit quality and forensic accounting techniques on the value relevance of Accounting Information. The study specifically examined the effect of Audit quality on the book value of asset of selected oil and gas companies in Nigeria, the effect of audit quality on the market value of equity of selected oil and gas in Nigeria, the effect of audit quality on the earnings of selected oil and gas sectors in Nigeria. It also examined the moderating effect of forensic accounting techniques on audit quality and the value relevance of selected oil and gas sectors in Nigeria. The study used the Agency and Ohlson theory. The study used the descriptive research design. The population of the study comprises all the directors and management staff of the listed oil and gas companies in the Nigeria Stock Exchange market. The total population is 171 staff. The total enumeration sampling technique was used as this is a type of purposive sampling technique that helps to examine the entire population. The study found out that there is a relationship between the variables of audit quality and the book value of selected oil and gas companies though it is moderate. It also revealed that there is a positive and significant relationship between the variables of audit quality and the Market Value of Equity. The results of multiple regression analysis for the effect of audit quality on earnings shows that the coefficient of determinant is moderate. This shows that there is also a positive and significant effect on the earnings of oil and gas companies. However there is a positive but insignificant moderating effect of forensic accounting techniques and its interaction between audit quality and value relevance of accounting information of selected oil and gas companies in Nigeria. The study recommended that concentrated effort needs to be made in ensuring that auditors are well experienced and trained while ensuring that the audit process is been conducted in the most professional way as this will help to enhance the result that will be presented to the users of accounting information. Keywords: Value Relevance, Audit Quality, Audit result, Market Value, Forensic Accounting Techniques Word Count: 359
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    Badagry Museum for National Heritage Conservation in Nigeria
    (Lead City University, Ibadan, 2024-12) IBIDAPO Abimbola Olubunmi
    Heritage play an important role in creating character, identity, and national image, thus, its conservation is very important as it helps to maintain cultural diversity, promotes understanding and appreciation of different cultures, and contributes to the sense of identity and continuity within communities. This study aimed at examining the contribution of Badagry museum to national heritage conservation in Nigeria. The objectives of the study included evaluating the effectiveness of the museum’s conservation practices, assessing the socio-economic impact of the museum on the host community, and identifying the challenges hindering the effective operations of the museum. Qualitative method of data collection was adopted. A total number of eighty nine (89) respondents consisting of museum staff, tour guides, visitors and residents of Badagry were selected through purposive sampling technique. Data was gathered through; Key Informant Interview, Focus Group Discussion and observation methods. Data collected was analyzed using content analysis method. Findings revealed that the Badagry heritage museum performs a significant role in contributing to national heritage conservation through the preserved relics of the trans-atlantic slave trade, which attracts visitors to the museum. The study also revealed that the museum contributes significantly to the socio-economic development of Badagry through; provision of job opportunities, investment opportunities, development of infrastructure and superstructure, tourism business etc. The study identified some of the challenges facing the museum operations as follows; paucity of funds, lack of skilled personnel, and poor awareness of the museum. This study concluded that the museum plays a crucial role in national heritage conservation and recommended that the funding of the museum be prioritized by the government for effective museum operation and maintenance, also, government and other tourism stakeholders should endeavor to promote and market the rich historical and heritage sites in Badagry in other to create more awareness locally and internationally. Keywords: Conservation, Cultural, Heritage, Museum, Resources Word Count: 298
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    Branding strategies and Consumer Patronage of Fast Moving Consumer Goods in Oyo State
    (2022-12) Abimbola Toun FALUYI; Oyindamola Abiodun ADELESI
    This study deals with the impact of branding strategies and Consumer patronage of fast moving consumer goods. It is a trending fact that consumers are more inclined to branded products as opposed to unbranded ones when choosing a choice of product in the market. We would be understanding the roles that Brand Awareness, Brand Loyalty, Brand Image, brand equity and Pricing strategy plays on the patronage of FMCG in Ibadan. This study adopts the survey research design which helps to directly show people’s opinions, attitudes and emotion among other subjective characters. The data for this survey was collected from 323 employees of Procter and Gamble Company in Nigeria (P&G) in Oyo state using the convenient sampling method. The data retrieve was analyzed using SPSS 23.0. From this study, it is discovered that branding strategies has a significant on consumer patronage of fast moving consumer goods in Nigeria. The results also shows that all four branding strategies were of significance in influencing the consumers patronage variables. The regression coefficient, t statistic, and p-value for the model show that Brand Awareness (β=.480, t=8.142, p<0.05); Brand Image (β=.657, t=8.418, p<0.05); Brand Equity (β=.398, t=6.819, p<0.05) and Pricing Strategy (β=.328, t=7.743, p<0.05) exerts a positive and statistically significant effect on patronage intentions. Hence, the null hypothesis was rejected and the study conclude that Brand Awareness, Brand Image, Brand Equity and Pricing Strategy have a significant influence on patronage intentions of fast moving consumer goods in Ibadan, Oyo state. Therefore, we recommended that The FMCG companies in Nigeria should pay much attention to the influences of brand awareness, brand image, brand equity and pricing strategy as it increases consumers purchase intentions. They should engage always in more branding strategies, and set up a more effective branding management department with experienced staff to help align these branding strategies with the company’s goals and objectives. Keywords: Branding Strategies, Consumer Patronage and Fast Moving Consuming Good Word Count: 308
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    Budgeting Process and Organizational Effectivenessin The Polytechnic,Ibadan, Oyo State, Nigeria
    (Lead City University, 2023-12) Elizabeth Abosede WURAOLA
    Tertiary Institutions operates basically on budget. This study assessed organizational effectiveness of Budgeting Process in The Polytechnic, Ibadan, Oyo State, Nigeria. Expectations are that tertiary institutions provide educational services, however, there has been on several occasions the occurrence of industrial disharmony and unrest between the management, staff and students of the tertiary institutions which posed the question whether the management and the stakeholders are not efficient in their operations and does not see the practical necessity to ensure the acceptance of budgeting process as an efficient managerial tool vital to the planning, coordinating and controlling functions. The research tool employed in data gathering and collection was questionnaire while SPSS version 25 was adopted for descriptive and inferential statistics to analyze the data while agency theory was employed. The null hypothesis tested states that “there is no significant effect of budgeting process on organizational effectiveness in The Polytechnic, Ibadan, Oyo State, Nigeria”. Based on the findings from the study, it therefore concluded that “there is a statistically significant effect of budgeting process on organizational effectiveness of The Polytechnic, Ibadan, Oyo State, Nigeria” [R2=0.276, F(1,236)=90.053, P=0.0000] which aligned with agency theory as the theoretical bedrock for the study. However, it was found out that most of the key actors do not work with the budget due to lack of proper induction on their expected roles in the positions they occupied. Hence, the need for copy of budget manual to be sent to each departmental head after its approval by the government. The study recommended that management should intensify efforts in planning budget according to the organizational goals and objectives; provide adequate professionals who would prepare and plan the budget; keep budget implementation according to financial rules and regulations; embrace strong and effective internal auditing and budgetary control systems. Keywords: Budgetary control, budget implementation, budget planning, employee’s commitment, organizational effectiveness, service delivery, Word Count: 300 words
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    Business Continuity Management Factors, Eco-Efficiency and Financial Sustainability of Sugar Manufacturers in Lagos State, Nigeria
    (Lead City University, Ibadan, 2024-12) Tunde Joshua AKINSANYA
    The financial sustainability of sugar industry in Nigeria has experienced a significant decline evidenced by poor profitability, weak resource diversification, and weak firm growth which is suggestive of challenges associated with business continuity management factors and eco- efficiency. Hence, using dynamic capability, and contingency theories, this study assessed the interaction of Business Continuity Management Factors (BCMFs), eco-efficiency and financial sustainability of sugar manufacturers in Nigeria. A cross-sectional survey research design was adopted. The population was 919 staff of selected sugar manufacturing companies in Lagos State, Nigeria. Sample size of 326 staff was determined through the Raosoft sample size calculator for a finite population, and a stratified random sampling technique was used to select the staff at the three management levels within the selected sugar companies. A validated questionnaire was used to collect data. Data were analysed using descriptive and inferential statistics. Findings revealed that BCMFs had a positive and significant effect on financial sustainability of sugar manufacturers in Nigeria (R 2 = 0.452, (1,277)= 228.570, p= 0.000). Strategy unfolding had positive and significant effect on financial sustainability of sugar manufacturers in Nigeria (R 2 = 0.231, F(1,277)= 83.049, p= 0.000). Response strategy had positive and significant effect on financial sustainability of sugar manufacturers in Nigeria (R 2 = 0.380, F(1,277)= 170.060, p= 0.000). Crisis management leadership had positive and significant effect on financial sustainability of sugar manufacturers in Nigeria (R 2 = 0.278, F(1,277)= 106.784, p= 0.000). Business resilience had positive and significant effect on financial sustainability of sugar manufacturers in Nigeria (R 2 = 0.397, F(1,277)= 182.247, p= 0.000). Eco-efficiency has a positive and significant moderating effect on the interactions between BCMFs and financial sustainability of sugar manufacturers in Nigeria (ΔR 2= 0.010, ΔF = 7.230, P= 0.008). This study concluded that there was a statistically significant effect of BCMFs and eco-efficiency factors to enhance financial sustainability of sugar manufacturers in Nigeria. The study recommended that BCMFs with emphasis on strategy unfolding and crisis management leadership orientation need to be revisited by the management so that the BCMFs can enhance robust financial sustainability and ensure the adoption of environmentally friendly eco- efficiency strategies. Keywords :Business continuity management factors, Eco-efficiency, Financial sustainability, Sugar Industry Word Count: 342
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    Capital Budgeting Techniques and Financial Performance of Selected Manufacturing Companies in Lagos State, Nigeria
    (Lead City University, 2022-12) Peter Oluwole BABALOLA
    The purpose of this study is to examine capital budgeting techniques and financial performance of selected manufacturing firms in Lagos State, Nigeria. It is to determine the relationship between capital budgeting strategies and the financial performance of manufacturing enterprises in Lagos, Nigeria. The enormity of costs incurred on capital projects is such that a mistake in the decision on whether or not to undertake a project may have dire consequences for manufacturing and industrial enterprises. It can lead to the determination of a company's status as a going concern. This is why this study is being carried out. The research instrument is a published financial statement obtained from secondary data of three manufacturing businesses for the period 2011–2020 for the topic of study in the selected manufacturing companies, which results in thirty observation periods. To analyse the capital budgeting processes objectively, information was acquired from the published financial statements of the chosen industrial enterprises. The researcher analysed the data using descriptive and inferential statistics. Return on investment was employed as a metric of financial performance. The use of SPSS, graphs, and the Cronbach's alpha model made data analysis possible. Using the Chi square and Pearson coefficient test models, results were drawn regarding the relationship between the independent and dependent variables. The study found that net present value (NPV), the payback period (PBP), the internal rate of return (IRR) as well as the accounting rate of return (ARR) have substantial effects on financial performance. In addition, the study indicated that CBTs have indirect causal impacts on financial performance and allow for the selection of fundamentally profitable projects. Keywords: Capital budgeting techniques, net present value, internal rate of return, payback period, financial performance. WordsCount: 267 words
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    Capital Flight, Financial Stability and Nigerian Economic Growth
    (Lead City University, 2023-12) Babatunde ORENUGA
    Achieving the projected economic growth rate has remained a critical determining factor of economic prosperity and sustainability for many nations globally. This is because the socio- economic wellbeing of the State-players including the citizen depends on the attainment of the economic growth rate. While developed economies have made it a habit of consistently attaining significant economic growth rate which result in socio-economic benefit for the State and their citizen, Nigeria seems to be struggling in setting realistic economic growth rate and in its’ attainment. This weak Nigeria’s economic growth rate and its attendant consequences on the citizen raise some contextual issues on capital flight and financial stability. Hence, on the strength of the purchasing power parity theory and debt overhang theory, this study examined the effects of capital flight and financial stability on Nigerian economic growth. The study adopted an ex-post facto research design by utilizing secondary data obtained from the CBN Statistical Bulletin, NBS, IMF and World Bank, using time series data from 2002 to 2021 and annual reports of eight selected financial institutions in the category of international authorization in Nigeria. The study adopted ordinary least square regression analysis to test the hypotheses formulated in the introductory chapter. The findings of the study revealed that capital outflow (CO) has a negative relationship with Nigerian economic growth and the effect is significant (ꞵ = -0.289965; P-Value = 0.006). External debt (ED) has a negative correlation with Nigerian economic growth and the effect is insignificant ( ꞵ = -0.088933; P-Value = 0.7899). External reserve (ER) has negative relationship with Nigerian economic growth and the effect is significant (ꞵ = -57032.05; P- Value =0.0329). Exchange rate (EX) has a negative correlation with Nigerian economic growth and the effect is insignificant ( ꞵ = -0.235292; P-Value = 0.422). Return on asset (ROA) has a negative relationship with Nigerian economic growth and the effect is significant (ꞵ = -0.051184; P-Value = 0.0390). Non-performing loan (NPL) has a negative correlation with Nigerian economic growth and the effect is insignificant (ꞵ = -0.016001; P- Value =0.4983). This study concluded that capital flight and financial stability when managed appropriately hold potential to enhancing Nigerian economic growth. The study recommended that government at all levels must provide friendly and enabling environment through the availability of infrastructural amenities needed to encourage investments that will bring more capital inflows from foreign countries. Likewise, there must be a limit on foreign borrowing tendencies of government at all levels. In addition, foreign borrowing must be limited to only infrastructural development desires of the country. Moreover, government should establish a steady exchange rate regime capable of encouraging capital inflows into the country and boost Nigeria’s financial stability. Nigeria Government should stop importation of petroleum products into the country and fix all the four (4) refineries in the country to reduce foreign currency spent on importation of petroleum products. The current efforts designed at checkmating loan defaults in the banking system through the application of the global standing instruction (GSI) regulations should be improved upon, sustained, and extended to non-individual customers of financial institutions. Keywords: Capital flight, Capital outflows, External reserve, External debt, Exchange rate, Financial stability, Non-performing loan, Real gross domestic product, Return on asset. Word Count: 500.
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    Celebrity Endorsement and Consumer Buying Behaviour of Sanitary Pads among Female Undergraduate Students in Lead City University, Ibadan, Oyo State
    (Lead City University, Ibadan, 2024-12) Blessing Elozino AVURA
    Given the competitive nature of today’s business environment, understanding consumer buying behaviour is crucial in determining market trend. However, consumer buying behaviour can be affected by several factors including celebrity endorsement. Celebrity endorsement often triggers heightened demand for products, thereby increasing its popularity and sales volume. This study examines the effect of celebrity endorsement on consumer buying behaviour of sanitary pad among female undergraduate students of Lead City University, Ibadan, Oyo State. The study adopted a descriptive research design and the population of this study focused on all female undergraduate students of Lead City University, Ibadan, Oyo State, Nigeria. Multi-stage sampling procedure was used to ascertain the sample for the analysis. Descriptive and Inferential Statistics was used to analyze the collected data. The findings revealed that celebrity expertise, personality, attractiveness, and credibility significantly influence consumer buying behavior of sanitary pads among female undergraduate students of Lead City University, Ibadan, Oyo State. Specifically, the results showed that: Celebrity expertise has a significant influence on consumer buying behavior (β1= 0.749, R2=0.638, t-statistics=16.539>1.96, P-value =0.000 < 0.05); Celebrity personality has a significant effect on consumer buying behavior (β2= 0.522, R2=0.581, t-statistics=14.842>1.96, P-value =0.000 < 0.05); Celebrity attractiveness has a significant influence on consumer buying behavior (β3= 0.815, R2=0.745, t-statistics=16.639>1.96, P-value =0.000 < 0.05); and Celebrity credibility has a significant influence on consumer buying behavior (β4= 0.737, R2=0.845, T-statistics=7.832>1.96, P-value =0.000 < 0.05). Based on these findings, it was recommended among others that brands producing sanitary pads should carefully select celebrities who have relevant expertise in the field of feminine hygiene or women's health. Keywords: Celebrity endorsement, Consumer buying behaviour, & Sanitary Pads Word Count: 276
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    Challenges of Government Intervention Fund and SME Survival in Lagos State
    (Lead City University, Ibadan, 2024-12) Babatunde Musibau Adebayo LAWAL
    This study examines challenges of government intervention fund and SME survival in Lagos State. Government has introduced several intervention fund over time with little or no impact on survival of Smes, IFC report in 2021 reflects a 4% decline in the no of Smes leading to the need to examine the specific issues in the areas of policy formulation and implementation of Intervention funds. The study was led by Dynamic Capability Theory, Stakeholders Theory, and Survival Base Theory. This study used descriptive survey research. This study includes all 11,643 registered SMEs in Lagos State, as reported by SMEDAN and the National Bureau of Statistics Collaborative survey in 2019. The Taro Yamme sampling size technique was used to choose 387 participants. The researchers targeted small and medium scale enterprises in Lagos State using purposive and incidental sampling approaches to pick 387 respondents from a SMEDAN interactive group. The research instrument was a structured questionnaire. To examine the instrument's reliability, 50 randomly selected respondents were tested separately from the main study participants. This isolation allowed objective instrument internal consistency evaluation. The pilot's Cronbach's Alpha value was 0.816, showing strong item consistency. Objective one identified intervention fund adequacy, repayment terms, and interest rates as significant factors impacting SME survival in Lagos State. However, the analysis suggests that these factors may not be well-suited to the specific needs of SMEs for sustainable survival, supported by a significant regression model (F(1, 385) = 56.943, p < 0.001). Objective two emphasizes the importance of fund accessibility, also supported by a significant model (F(2, 384) = 217.501, p < 0.000). However, objective three suggests awareness of government programs may not directly impact survival (F(1, 385) = .156, p < 0.693). Lastly, objective four highlights inadequate fund monitoring (F(1, 385) = 42.942, p < 0.000). The findings emphasizes the importance of intervention fund conditions in terms of repayment terms, interest rates, eligibility criteria and accessibility, as well as enhanced monitoring methods, in the survival of SMEs in Lagos State. To effectively help SMEs, policymakers should revise fund terms and eligibility requirements and improve monitoring through the use of special purpose vehicles with specialization in management of SMEs to optimize fund distribution, utilization and recovery. Keywords: Government Intervention Fund, SMEs Survival, Intervention Fund Issues, Monitoring Adequacy, Appropriateness, SMES Profitability, Liquidity Word Count: 300
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    Client Size and Audit Report Lag of Selected Deposit Money Banks in Nigeria
    (Lead City University, Ibadan, 2024-12) Oluranti,Grace OLUBUSOYE
    This research examines how Client Size influences Audit Report Lag in selected Nigerian Money Deposit Banks, aiming to improve understanding of audit efficiency and timeliness in financial reporting within the banking sector. Prompt financial reports are crucial for stakeholder decision-making and market efficiency, while delays known as Audit Report Lagcan impact market value, investor confidence, and regulatory compliance. Using a quantitative approach, the study analyzed secondary data from annual reports of four commercial banks over 21 years (2001-2021). The study population is some selected Deposit money banks, which are used as the case study. Currently, there are twenty two commercial banks in Nigeria. Out of which some selected banks are used as case study, which is about 18% of the population It focused on whether client size, measured by indicators like total assets and turnover, affects the time between fiscal year-end and audit report issuance. The analysis, conducted through multiple regression, assessed the effects of client size, board size, audit committee effectiveness, and auditor type on Audit Report Lag. Results indicated that larger clients generally have shorter Audit Report Lags, suggesting that larger entities push for quicker audit completions to meet investor and regulatory demands. This research adds to the literature on audit practices in emerging markets. Keywords: Audit report lag, Client size, audit committee. Word count: 298
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    Competitive Strategy, Customer Engagement and Performance of Selected Manufacturing Companies in Lagos State, Nigeria
    (Lead City University, Ibadan, 2024-12) Yetunde Khadijat LAWAL
    The need for manufacturing organization to actualize set objectives consistently is a sort after goal that required management concerted effort. The manufacturing organizations are experiencing difficulties given the harsh business environment in Nigeria and this is suggestive of their inability to deploy clear competitive strategies and engaged their customers. Hence, this study on the tenet of dynamic capabilities theory, and competence- based theory assessed the interaction between competitive strategy, customer engagement, and performance of selected manufacturing organizations in Lagos State, Nigeria. This study adopted a cross-sectional survey research design, and the population was 6,470 employees in the four selected manufacturing organizations in Lagos State. Sample of 422 respondents were computed using the Krejcie and Morgan formula. The study adopted a stratified-random sampling technique. A validated questionnaire was used to collect data. The Cronbach’s alpha reliability coefficients for the constructs ranged from 0.70 to 0.91. The response-rates of 89.1% was obtained. Data were analyzed using descriptive and inferential statistics. Findings revealed that product quality has positive and significant effect on market share (R 2= 0.582, F(1,374)= 520.040, p= 0.000). Market segmentation has positive and significant effect on profitability (R 2= 0.392, F(1,374)= 241.349, p= 0.000). Product differentiation has positive and significant effect on firm growth (R 2= 0.662, F(1,374)= 731.592, p= 0.000). Customer engagement have positive and significant moderating effect on the association between competitive strategy and performance of selected manufacturing companies in Lagos State, Nigeria (ΔR 2 =0.036, p<0.05).This study concluded that competitive strategy affects performance and that customer engagement plays a significant moderating role on the relationship between competitive strategy and performance of selected manufacturing organization in Lagos State. The study recommended that management of the selected manufacturing organizations in Lagos State, should re-assess their competitive strategy measures and reinvent customer engagement mechanism because in order to enhance high performance. Keywords: Competitive strategy, Customer engagement, Manufacturing organization, Performance Word Count: 295
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    Contextual Factors, Regulatory Support, and Performance of Insurance Industry Operators in Lagos State, Nigeria
    (Lead City University, Ibadan, 2024-12) Japhet O. DURU
    The significance of the insurance industry is vital for the survival of numerous organizations, as it provides economic and social welfare through risk mitigation, essential for individuals, businesses, and governments. Notwithstanding the insurance industry's substantial role in Nigeria, its performance over time indicates that the sector is considerably distant from realizing its full potential in significantly contributing to the nation's economic recovery. This development examines certain contextual factors within the industry and assesses whether it receives sufficient regulatory support to enhance its contribution to Nigeria's gross domestic product, akin to its counterparts in the financial sector. Hence, this study examines the effect of contextual factors on the performance of insurance industry operators in Lagos State, Nigeria. A cross-sectional survey research design was adopted. The population was 420 heads of strategic units within each of the seventy 70 insurance industry operators in Lagos State, Nigeria. Total enumeration method was adopted given the small population of the unit of analysis for the study. A validated questionnaire was used to collect data. The Cronbach’s alpha reliability coefficients for the constructs ranged from 0.66 to 0.78. The response rate of 93% was achieved. Data were analyzed using descriptive and inferential statistics. Findings revealed that contextual factors had positive and significant effect on performance of insurance industry (R2= 0.336, F(1,389)= 19.558, p= 0.000). Contextual factors had positive and significant influence on client acquisition (Adj R2= 0.280, F(5,385)= 31.271, p= 0.000). Contextual factors had positive and significant effect on profitability (Adj R 2= 0.297, F(5,385)= 34.017, p= 0.000). Contextual factors had positive and significant effect on client satisfaction (Adj R2= 0.259, F(5,385)= 28.270, p= 0.000). Contextual factors had positive and significant influence loss development (Adj R 2= 0.192, F(5,385)= 19.558, p=0.000).Regulatory support had positive and significant moderating effect on the association between contextual factors and performance of insurance industry operators in Lagos State, Nigeria (ΔR2=0.285, ΔF= 51.870, P= 0.000). This study concluded that there was a statistically significant effect of contextual factors and regulatory support on performance of insurance industry operators Lagos State, Nigeria. The study recommended that management of the insurance industry operators in Lagos should renew their commitment to the dimension of contextual factors including customer education, product innovation, technology integration, crisis management preparedness, and social responsibility initiatives and take advantage of regulatory support through social capital with insurance industry regulators such that policies formulation and enforcement can favour them. Keywords: Contextual factors, Insurance industry, Management support, Performance Word Count: 395
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    Corporate Governance and Innovation Capability on Performance of Deposit Money Banks in Lagos State, Nigeria
    (Lead City University, 2023-12) Olufunke Olukemi SERIKI
    Globally, banking sector performance has experienced significant growth in terms of earnings, size and resilience between 2008 and 2022. Total assets reached over $124 trillion, while return on assets (ROA) stood at 0.9%. Hence this study aim to evaluate the effect of corporate governance and innovation capability on performance of selected deposit money banks in Lagos State, Nigeria. The specific objectives are to; determine the effects of corporate governance dimensions on performance of selected deposit money banks in Lagos State, Nigeria; evaluate the effect of innovation capability dimension on performance of selected deposit money banks in Lagos State, Nigeria; and assess the combine effect of corporate governance and innovation capability on performance of selected deposit money banks in Lagos State, Nigeria. This study adopts a quantitative research method, employing a cross-sectional survey research design. The population consists of one thousand, two hundred and twenty-eight (1,228) employees of selected deposit money banks headquarters in Lagos State, and three hundred and six (306) sample size. The administered questionnaires represent a 79.1% response rate. The result of hypothesis one showed that corporate governance have positive but weak statistical significant relationship with finance performance of DMBs (R = 0.205, P<0.05), hypothesis two revealed that innovation capability has positive but weak statistically significant relationship with financial performance of DMBs (R= 0.287, p<0.05), and hypothesis three revealed that corporate governance and innovation capability have positive but weak statistically significant relationship with the performance of DMBS (R = 0.313, p<0.05). This study concludes that corporate governance and innovation capability have significant effects on the performance of selected deposit money banks in Lagos State. This study recommends that corporate parent of the selected deposit money banks should pay attention to corporate governance activities to ensure that it helps improve performance for the DMBs under investigation. Keywords: Corporate Governance, Innovation Capability, Deposit Money Banks. Word Count 297
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    Corporate Governance and Performance of Selected Listed Companies in Nigeria
    (Lead City University, 2022-12) Jimoh Akanbi IBRAHIM
    Many big corporation have collapse with perceived strong structures and processes around the world and in Nigeria. Some companies despite operating in regulated environment that requires good compliance to corporate governance have suffered several setbacks and decline in growth and productivity. Due to these challenges, this study examines the Corporate Governance and Performance of Listed companies in Nigeria. The research reviewed three theories i.e. Principal-Agency theory, Stewardship Theory and Resource-Based theory. The study employed descriptive statistics for analysis of demographic data and research questions, while panel data regression was adopted for hypotheses testing with the aid of SPSS. Data analysed through Correlation Analysis, Regression Analysis, Analysis of Variance and Coefficient & Statistical Significance of Variable. Findings show a strong positive correlation between the independent variable (Board size) and the dependent variable (Net profit) with r = 0.985 (Sig.value = 0.000, p<0.05), correlation between the independent variable (leadership structure) and the dependent variable (earnings before tax) with r = 0.821 (Sig. value = 0.000, p<0.05), ANOVA shows the variables are jointly significant at all critical level i.e. 1%, 5%, 10%, showing the general strength of the model. A positive relationship between the board independence and the return on investment. This shows that every 1% change in the board independence, results in approximately 92.5% change in the return on investment. (β= 92.485, t=22.892, p<.000). Strong correlation between the independent variable (management transparency) and the dependent variable (growth) with r = 0.932 (Sig.value = 0.000, p<0.05). It is recommended that management should embrace and comply with the corporate governance principles in their structures and processes to ensure the business survival, growth, better earnings and enduring profitability. Keywords: Corporate Governance, Performance, Listed companies, leadership structure, Management, Growth and Net Profit. Word Count: 273
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    Corporate Governance Practices and Financial Performance of Quoted Consumer Good Companies in Nigeria
    (Lead City University, Ibadan, 2024-12) Samuel Adegunle MESIOYE
    This study examines the impact of corporate governance on the financial performance of quoted consumer goods companies in Nigeria, focusing on key governance elements such as board composition, board diversity, audit committee independence, and board size. Using panel data from 2012 to 2022, the study employs both fixed and random effect regression models to analyze how these corporate governance factors affect two key performance metrics: return on assets (ROA) and return on equity (ROE). The Hausman test was conducted to determine the appropriate model for analysis. The findings demonstrate that board composition has a negative and significant effect on ROA of consumer goods companies (P= 0.027<0.05, β1= -0.0229) but have a positive and significant effect on ROE (P= 0.000<0.05, β1= 0.0645) of consumer goods companies in Nigeria. , suggesting that a well-structured and diverse board contributes to improved financial performance in the sector. On the other hand, board size shows a negative but statistically insignificant relationship with ROE and a positive but also insignificant relationship with ROA (P= 0.0496<0.05, β 4= -0.0169 ROA; P= 0.8947>0.05, β 4= -0.0069 ROE). Audit committee independence, another key governance factor, exhibits a negative and insignificant effect on both performance measures (P= 0.282>0.05, β2= -0.0286; P= 0.3167>0.05, β2= 0.1371), indicating that its role may not be as impactful in driving financial success within these companies. The Durbin-Watson diagnostic test reveals no autocorrelation issues in the models, further supporting the robustness of the analysis. Based on the results, the study concludes that certain aspects of corporate governance, especially board composition and diversity, play a crucial role in enhancing the financial performance of consumer goods firms in Nigeria. The study recommends that companies should prioritize board diversity and effective board composition to optimize financial outcomes. Additionally, while audit committees are essential, their role in enhancing financial performance may require further scrutiny and reevaluation to enhance their effectiveness. The study contributes to the growing literature on corporate governance and provides practical insights for firms seeking to improve their governance structures for better financial performance. Keywords: Corporate Governance, Financial Performance, Audit Committee Independence Board Composition, Audit committee Independence, Board Size. Word Count: 291
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    Corporate Governance, Firm-Specific Factors and Sustainability of Fast-Moving Consumer Goods Manufacturing Companies in Nigeria
    (Lead City University, 2023-12) Mustapha Aikins SULEIMAN
    The turbulent nature of the environment within which the manufacturing sector operates in Nigeria has led to the closure of several manufacturing companies over the years. Noticeably, to sustain their operations in the face of the dynamic environment, corporate strategies have been inclined towards shrinking firm sizes and moving to a cost-advantaged location outside Nigeria. The development raises the question of what relevance is corporate governance (measured by accountability, agile leadership, and stakeholder management) and firm-specific factors (measured by firm size and operational efficiency) in addressing the issues affecting the sustainability of the fast-moving consumer goods manufacturing companies in Nigeria. Thus, the study examined the effect of corporate governance and firm-specific factors on the sustainability of fast-moving consumer goods manufacturing companies in Nigeria and further interrogated the intervening effects of environmental dynamism on the interaction between corporate governance, firm-specific factors, and sustainability of fast-moving consumer goods manufacturing companies in Nigeria. The study is anchored on the stakeholder theory and dynamic capabilities theory. The population of the study constitutes 5,710 regular staff of 6 selected fast-moving consumer goods manufacturing companies in Nigeria with their head office in Lagos State; the selected companies represent 85% of the consumer goods industry in Nigeria. The study adopted the cross-sectional survey design to study the subset of the population. The Raosoft online sample size calculator for finite population was employed in calculating the sample size of the study at 5% significant level. The research instrument used was an adapted 6-point Likert scale structured questionnaire which was administered by employing the proportionate percentage, stratified random sampling and simple random sampling technique. Out of the 432 questionnaires distributed, 406 were retrieved. 383 of the retrieved questionnaires were deemed usable, indicating a response rate of 88.65%. Data collected were analysed using Partial least-square-structural equation model to examine the three-way direct, mediation, and moderation null hypotheses. The study findings show that: corporate governance exerted a significant effect on sustainability (Adj R 2 =0.710, p=0.000, Q2 =0.391); firm-specific factors exerted a significant effect on sustainability (Adj R 2 =0.428, p=0.000, Q2 =0.234); corporate governance and firm-specific factors jointly exerted a positive and significant effect on sustainability (Adj R 2 =0.698, p=0.000, Q2 =0.188); environmental dynamism exerted a positive and significant moderating effect on the interaction between Corporate Governance and sustainability (β =0.386; p< 0.006, Q2 =0.290); environmental dynamism was also found to exert a positive and significant mediating effect on the interaction between firm specific factors and sustainability of the selected fast moving consumer goods manufacturing companies (β=0.396, t= 2.919, p= 0.004). The study recommended that fast-moving consumer goods manufacturing companies should: pay particular attention to improving their level of accountability and focus more on the agility of leadership and stakeholder management strategies; Understand the appropriate configuration of firm-specific factors required to mitigate the negative external threats in the dynamic environment to take advantage of available opportunities; and continuously evaluate the external environment and align performance with set goals in the face of the turbulent business environment to aid their sustainability. Keywords: Sustainability, Environmental dynamism, Firm-Specific-Factors, Manufacturing companies, Dynamic Capability theory, Stakeholder Theory. Word Count: 498
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    Corporate Social Responsibility and Financial Performance of Listed Fast Moving Consumer Goods Firms in Nigeria
    (Lead City University, 2022-12) Oluwatoyin Julianah AYENI
    Corporate Social Responsibility has greatly contributed to the success of various corporate institutions in the western world while the concept is widely recognized as being of significant strategic value to organizations. This study therefore seeks to address the corporate social responsibility and financial performance of listed fast moving consumer goods firms in Nigeria. The research adopted the ex-post facto research design. Secondary data were captured through the use of financial statement of listed fast moving consumer goods firms in Nigeria. Target population of the study was made up of listed fast moving consumer goods firms in Nigeria. A total of nine companies were randomly selected through purposive sampling technique and ten years financial of their financial statement were put under observation. The study revealed that the summary statistics of all the variables under study were described. Specifically, the mean values of the CEE, SEE, HSE and the ESE stood at N19, 450, 000, N751,000,000, N83,720,000 and N9,720,000 respectively, also that the company engages in CSR programmes because it wants to create an image of a good corporate citizen. The study concludes that CSR has a substantial and positive impact on all performance indicators used in the literature review which are: finance, organizational performance overtime, reputation, employee commitment and brand differentiation. It was therefore recommended that companies should identify their stakeholders’ needs before taking CSR initiatives; also top management must understand the strategic financial benefits of CSR activities and include CSR initiates in their strategic plans. Keywords: Corporate Social Responsibility, Financial Performance, Nigerian Listed Firms, Community Empowerment, Environmental Management Word Count: 242