Browsing by Author "ABOGUN Segun"

Now showing 1 - 3 of 3
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    CORPORATE GOVERNANCE CODE IMPLEMENTATION AND PERFORMANCE OF NIGERIA LISTED FIRMS
    (Department of Accounting, University of Benin, 2023) ABOGUN Segun; KARGBO, Sankay Isaac; Orilonise Mubarak; Osemene F. Olubunmi
    This study investigate the impact of Corporate Governance Code implementation and performance of listed firms in the Nigeria's financial services sector for the study period of 2018 to 2021, a period spanning the introduction of Nigerian Corporate Governance Code 2018.Corporate governance variables employed are board characteristics, assurance and firm size. The objective is to measure the degree of compliance of the firms with the NCCG 2018 and its principles and also evaluate the effect of the code on corporate performance. The study incorporates both qualitative and quantitative research methods, drawing data from 43 listed firms from 2018-2021. Using fixed effects regressions to analyze the governance-performance relationships, data is sourced from annual reports available on firm's websites and the Nigerian Stock Exchange website. The regression analyses reveal that the NCCG significantly impacts listed firms' financial performance by establishing effective board characteristics that drive strategic leadership and ethical culture. Findings also shows introduction of the code has led to improved firm performance and if all components are adhered agency problems will be reduced. However not all element of corporate governance has a significant effect on performance. From these findings it is recommended that Companies must cultivate efficient boards that foster ethical cultures, diverse skills, and strategic leadership to serve shareholders and stakeholders for sustainable success.
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    CORPORATE SOCIAL RESPONSIBILITY EXPENDITURE AND FINANCIAL PERFORMANCE OF LISTED CONSUMER GOODS FIRMS IN NIGERIA
    (Department of Accounting, University of Benin, 2024) ABOGUN Segun; Orilonise Mubarak Abiodun; Subair Faidat Abimbola; Oke Mercy Oluwapelumi; Olarewaju Oluwatimilehin
    Statistics shows that the financial performance of most of the largest consumer goods firms has been fluctuating in recent times. For instance, the combined average net margin of 10 largest listed consumer goods firms fell to 7.07% in 2019, from 8.93% a year before. In 2023, the industry recorded an average loss of #3.5 billion. Hence, the objective of this study is to examine the connection of corporate social responsibility (CSR) expenditure on financial performance of listed consumer goods firms in Nigeria. The research design adopted for the purpose of this study is the ex-post facto research design. Population for the study comprises of the 21 listed consumer goods firms. However, 15 companies were examined using census sampling approach, based on the listed consumer goods firms on the NGX on or before 2019 and availability of information on social costs, economic costs and environmental development costs. This study used an ex facto research design and cover a period of five years from 2019 to 2023. The findings revealed that social and environmental development costs have a significant positive correlation on return on asset which was used as a metrics of financial performance while economic cost have a significant negative impact on financial performance. It was on this bases that the study that CSR expenditure influenced the financial performance of listed consumer goods firms in Nigeria. It is therefore recommended that consumer goods firms should strategically allocate resources to social and environment initiatives as part of their CSR activities while ensuring that all stakeholders’ expectations are not tampered with and ensure effective control of economic costs through strategic and innovative approach.
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    CORPORATE SUSTAINABILITY DISCLOSURE AND PROFITABILITY OF NIGERIAN LISTED FIRMS IN THE INDUSTRIAL GOODS SECTOR
    (Department of Finance, University of Ilorin, 2022) ABOGUN Segun; ADIGBOLE, E. A.; AINA, O. Thompson; AJIMATI, D. Oyinkansola; ABDULKAREEM, Z. Ajike
    The ongoing global economic crisis calls for a different but strategic approach to address the problem of profitability being witnessed by corporate entities, particularly in Nigeria. To this end, this research examined the impact of sustainability reporting on the profitability of listed Nigerian firms in the industrial goods sector. The research examined the entire listed companies in the Nigerian industrial goods covering periods from 2015 to 2020. In line with the global reporting initiatives, the research used content analysis to obtain the required information to measure sustainability disclosure. Information about the various dimensions of sustainability disclosure which includes economic, social, and environment was obtained from the annual reports of companies. The dataused in this research was analyzed using multiple linear regressions. The research found that while economic disclosure has a significant positive (coef.=0.0249; p-value= 0.000) influence on the Return on Assets (ROA), social disclosure has a significant negative (coef.=-0.0866; p-value=0.004) influence. Environmental disclosure does, however, have a statistically insignificant (coef.=0.0050; p-value=0.866) beneficial impact on the ROA. The study concluded that sustainability reporting has influence on theprofitability of listed companies in Nigeria's industrial goods sector. Therefore, the research suggests that the government implement regulations for the implementation of corporate sustainability disclosure compliance, and that businesses that violate these regulations should face appropriate sanctions. To advance the principles of sustainability reporting, all parties and policymakers must work together.