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Company dividend policy involves the periodic determination of the proportion and stability of a firm's distributable earnings payable to its equity shareholders. The variables which influence the decision, especially in developed economies, have been highlighted by the pioneering work of J. Lintner,2 and by the research findings of other scholars.3

The broad objective of the study was to investigate accounting ratios and false financial statements detection. The study was a descriptive survey in design. This study employed pooled data from firms listed in the Nigerian Exchange Group PLC, covering a period of 5 years (2017- 2021). A total of 239 firms quoted on the Nigerian Exchange constituted the population of the study. The study relied on secondary data. Historical data were obtained from the annual financial reports of accounts of 10 purposively sampled service sector firms. Data obtained were analysed using descriptive statistics, Pearson correlation and Pooled Data Binary logit regression analysis. The findings of the study revealed that profitability has a positive relationship with false Financial Statement detection. However, profitability and leverage ratios do not significantly relate to the probability of Financial Statement fraud occurrence. Based on the findings, it was recommended that the firm's financial managers should note with caution, the negative relationship between financial ratios and the firm's profitability. Hence, if the purpose of financial management is to improve fraudulent detection, then such efforts must be improved in using financial ratios to detect fraudulent financial reporting.

The issue of CSRD has been recognized as an evolving phenomenon since late 1970's and it has been given attention in accounting literature with increased pressure from the stakeholders on companies to pay-back to their host communities. This study examines empirically the relationship between corporate social responsibility disclosure and financial performance of quoted cement companies in Nigeria. Secondary data were sourced and used from the quoted Nigerian cement companies annual reports. A Samples of three [3] companies emerged from the population of five [5] companies using purposive sampling technique method. This study utilizes annual report of ten [10] years period covering [2008-2017] to obtain data for the study. The objective of this study is to examine relationship between CSRD and financial performance of quoted cement companies in Nigeria. Pooled OLS and Random Effect [RE] Panel Estimation analysis methods were used to display and discuss the results using STATA Version 12. The results revealed that corporate social responsibility disclosure have a significant and positive impact on the return on equity and return on capital employed. However, leverage and company size as control variables have a positive significant effects on the financial performance of quoted cement companies in Nigeria. Thus, CSRD is an important component to consider in determining financial performance of companies. The study recommends that quoted cement companies should increase the level of their CSR activities due to its enormous benefits on their financial performance, especially on the ROE and ROCE and Government should set quantum amount of atleast 2.5% on PBT of cement companies for execution of CSR activities to their immediate communities.

The issue of CSRD has been recognized as an evolving phenomenon since late 1970's and it has been given attention in accounting literature with increased pressure from the stakeholders on companies to pay-back to their host communities. This study examines empirically the relationship between corporate social responsibility disclosure and financial performance of quoted cement companies in Nigeria. Secondary data were sourced and used from the quoted Nigerian cement companies annual reports. A Samples of three [3] companies emerged from the population of five [5] companies using purposive sampling technique method. This study utilizes annual report of ten [10] years period covering [2008-2017] to obtain data for the study. The objective of this study is to examine relationship between CSRD and financial performance of quoted cement companies in Nigeria. Pooled OLS and Random Effect [RE] Panel Estimation analysis methods were used to display and discuss the results using STATA Version 12. The results revealed that corporate social responsibility disclosure have a significant and positive impact on the return on equity and return on capital employed. However, leverage and company size as control variables have a positive significant effects on the financial performance of quoted cement companies in Nigeria. Thus, CSRD is an important component to consider in determining financial performance of companies. The study recommends that quoted cement companies should increase the level of their CSR activities due to its enormous benefits on their financial performance, especially on the ROE and ROCE and Government should set quantum amount of atleast 2.5% on PBT of cement companies for execution of CSR activities to their immediate communities. ; peer-reviewed

This study examines whether International Financial Reporting Standards (IFRS) adoption has impacted significantly on Foreign Direct Investments (FDI) in Nigeria. The study specifically investigates the views of the preparers and users of annual reports based on the impact of foreign investors on quoted companies that adopted IFRS in Nigeria. The primary method of data collection was adopted with 165 questionnaires administered while Regression method was used for data analysis. The findings revealed that the adoption of IFRS is positively and significantly related to FDI. The result also showed a significant impact of foreign investors on quoted firms that have adopted IFRS in Nigeria. The study recommends that the government should create an enabling environment to encourage investors, so as to attract foreign direct investments for the enhancement of economy status of Nigeria. DOI:10.5901/mjss.2016.v7n2p99

PurposeThe purpose of this paper is to investigate the impact of corporate board characteristics on the financial performance of Nigerian quoted firms. Board characteristics studied comprise board size, board skill, board nationality, board gender, board ethnicity and CEO duality.Design/methodology/approachThe study employed the random‐effects and fixed‐effects generalised least squares (GLS) regression to test the six hypotheses formulated for the study, while controlling for firm size and firm age.FindingsUsing panel data from 122 quoted firms in Nigeria between 1991 and 2008, it was found that board size, CEO duality and gender diversity were negatively linked with firm performance, whereas board nationality, board ethnicity and the number of board members with a PhD qualification were found to impact positively on firm performance. The result of the robustness test using the same board characteristics for 160 small firms showed that board duality was positively linked to firm performance, while a PhD qualification was negatively linked to firm performance.Practical implicationsThe study contributes to the understanding of the board‐performance link by examining both the traditional variables such as board size, CEO duality and other organisational attributes such as ethnic diversity, foreign nationality and competence variables represented by women and PhD holders, respectively. The results provide an insight for practitioners and policy makers on the importance of relying on institutional specifics in the prescription of corporate governance codes.Originality/valueThe study adds value to the global corporate governance discourse in two ways: first, the use of Nigeria, which is claimed to have one of the weakest business cultures in the world, and secondly, using a good number of proxies that are country‐specific for corporate boards.

This study examines the effect of working capital management on the financial performance of Non-financial companies quoted on the Nigerian Stock Exchange over the period 2014 – 2018 while using a panel research design. This work is unique because it considers a sample of 71 companies drawn from all the 10 non-financial sectors of the NSE. Unlike most extant studies, financial performance was captured by earnings per share as a proxy, while the right-hand side variable being working capital management was denominated by Accounts receivable period, Inventory turnover period, and Accounts payable period. This study also considered the effect of some control variables namely annual capital expenditure, age of firm, GDP, firm size, growth of the company, and firm leverage on EPS. Data were retrieved from the Nigerian Stock Exchange 2019 Factbook. The model estimation technique adopted was the Pooled Ordinary Least Squares, fixed effect, and random-effect methods. Results from this study are consistent with the theoretical position that all aspects of working capital management have a significant effect on financial performance. While ITP and ACP were negatively related to EPS, APP was found to have a positive relationship with EPS. The research results also reveal that although all the control variables were found to be significant, only the age of the firm was deemed to be positively related to EPS. Based on the findings, the research recommends that firms should focus their managerial attention on lowering their ITP and ACP while increasing their APP, as results indicate that management of these elements of working capital can translate into liquidity and higher profitability.

An underexplored research in modern finance theory borders on the issue of taxes and corporate debt policy. Financial theory should be able to explain why large, profitable and heavy tax paying firms do not fully exploit the potential tax savings generated by debt. At best, partial explanations exist for debt conservative behavior. This study delves into the role of taxes on corporate borrowing in Nigeria. The population of study comprises all non-financial corporations quoted on the Nigerian Stock Exchange (NSE) for the period 1999-2014 out of which 50 companies that met the minimum data criteria were utilized. Using a combination of panel data least squares regression, the Modigliani- Miller tax benefit formula, the Miller equilibrium and the Graham simulation technique, the research documents the following findings. First, the factors that exert positive influence on corporate borrowing include firm age, financing deficit, asset intangibility and expected inflation while those factors that exert negative influence on capital structure include asset tangibility, growth, size, volatility of earnings, profitability, liquidity, dividend-paying status and uniqueness of industry. Second, the marginal tax rate exerts a negative impact on corporate debt ratios and there is weak evidence that tax considerations are crucial in capital structure choice – a position that challenges the trade-off theory. The results were, at best, mixed with respect to the portability of pecking order, target adjustment, agency and market conditions models. Asymmetric information rationalizes the aggressive debt posture of smaller, less profitable, less liquid firms with more risky intangible assets and low dividend-payers. The study recommends the use of non-debt tax shelters for corporate tax planning, government simplification of tax administration.