Browsing by Author "Abogun, S."
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Item Adoption Level and Impact of Strategic Initiatives in Management Accounting on Firms’ Performance in Kwara State.(Department of Business Administration, University of Ilorin., 2013) Abogun, S.; Abomide, O.S.This work examines the adoption level of Activity Based Costing (ABC), Just in Time (JIT), Total Quality Management (TQM) and their impact on firms’ performance. Simple regression model was employed to assess the relationship between strategic initiatives and firm’s performance. It also used the descriptive statistics (simple percentage) to examine the adoption level strategic initiatives by firms. Analysis shows that 81.6% of the companies are aware and adopt at least one of the strategic initiatives. Furthermore, the study shows that the implementation of strategic initiatives leads to improvements in firms’ performance. It is therefore, recommended that firms should implement ABC, JIT, TQM as against the traditional based approach to managerial accounting.Item Assessment of Personal Income Tax Knowledge among the University of Ilorin Staff.(Department of Accounting and Finance and Business Administration, Fountain University,, 2018) Salam, M. O.; Kasum, A.S; Bamigbade, D; Abogun, S.Taxpayers’ knowledge of what constitutes taxable income, claimable tax reliefs and allowance and applicable tax rates reduces uncertainty within the tax system. Inadequate knowledge of the tax system may affect tax compliance adversely. This study assesses personal income tax knowledge among the University of Ilorin Staff. Using proportional stratified random sampling technique, sample size of three hundred and sixty-five (365) staff was chosen from both academic and non-academic staff. Data was collected through the use of a structured questionnaire; the study applies both descriptive and inferential statistics. The Mann-Whitney U and Kruskal-Wallis tests were used in testing the hypotheses of the study. Results indicate that staff of the University of Ilorin have relatively low knowledge of personal income tax. However, the personal income tax knowledge of the non-academic staff is higher than academic staff. The personal income tax knowledge of males and female staff are the same and also, there is significant difference in personal income tax knowledge levels across four different educational qualifications of the staff. Based on the findings, it is recommended that State Internal Revenue Service, which is charged with the responsibility of administering the personal income tax in Nigeria, should provide adequate personal income tax education to taxpayers.Item Budget Emphasis, Non-Financial Measures and Information Manipulation: A Moderated Regression Approach(Amity Business School, Amity University, Noida, India., 2013) Fagbemi, T. O.; Abogun, S.; Ajibolade, S.O.The rising cases of accounting scandals resulting into corporate failures is a threat to life and a source of concern to investors and the generality of the people of this country, Nigeria. Budgeting among other things have been identified as both planning and control tool. Similarly, a reduced emphasis on financial reporting in favor of non-financial measures has been identified as preferred measure of assessing the performance of firms. Therefore, the main objective of this study is to examine the impact of budget emphasis and no-financial measures on information manipulation. A cross sectional survey research design was used in this study. The firms listed on the Nigerian Stock Exchange constitute the population of this study which was made up of two hundred and eighteen (218) firms while a sample of one hundred and twelve (112) firms was selected. The moderated regression technique was used for the analysis of the study data. The study found that budget emphasis and budget participation had significant relationship with information manipulation. The study hereby concluded that budget emphasis has impact of information manipulation. It was recommended that firms should pay more attention to budget emphasis as a means of controlling information manipulation.Item C-suite bias, firm characteristics, and capital structure decisions of quoted industrial firms in Nigeria.(Faculty of Management & Finance, University of Colombo, 2022-12) Fagbemi, T. O.; Kolawole, M. A.; Adigbole, Ezekiel Aiyenijo; Abogun, S.Most people exaggerate their own skills and accomplishments, which can have disastrous results. The C-suite has a tremendous impact on business choices, as decisions made in the workplace can be skewed by unconscious prejudice, and this bias can have negative consequences. Therefore, this study explores C-suite bias, firm characteristics, and capital structure decisions of quoted industrial goods firms in Nigeria. Data from 2002 to 2020 was used in an ex-post-facto research design while pooled OLS was used for analyses. The study found that C-suite tenure had a favourable influence on capital structure, suggesting that the duration during which C-suite executives govern their firms' affairs has a beneficial effect on the capital structure decisions. Therefore, the study advances that corporations should enable C-suite members to serve for a longer period of time; because the longer they remain at the helm of the company's affairs, the better their capital structure decisions.Item Corporate Governance and Bank Liquidity: Evidence from Selected Banks in Nigeria(University of Ilorin Library and Publication Committee, University of Ilorin., 2013) Abogun, S.; Fagbemi, T. O.; Balogun, R. B.This study examines the relationship between certain governance variables and bank liquidity. The primary source of data was used and data were obtained through the use of questionnaire. Altogether, a total of one hundred (100) questionnaires were administered across the randomly selected banks out of which 70 were duly completed and returned. Multiple regression models were used in investigating the relationship between the variables of the study. The significance testing of the regression coefficients was carried out using the t- test at 5% level. The study reveals that, out of the four corporate governance variables investigated on bank liquidity, audit committee independence and auditors’ independence are the two variables which explain the variability in bank liquidity. We recommend that owners of banks pay close attention to corporate governance variables that improve liquidity.Item Corporate sustainability disclosure and shareholders’ wealth of selected listed companies in Nigeria. Journal of Management Sciences(Faculty of Management Sciences, Federal University, Dutsin-Ma., 2021-12) Osemene, O.F.; Abogun, S.; Abdulsalam, I; Adigbole, EzekielItem Costing Techniques and Decision Making among Manufacturing Firms in Kwara State(Department of Accounting and Management, Nigerian Defense Academy, Kaduna, Nigeria., 2018) Adigbole, E. A.; Osemene, O. F.; Dikki, A. C.; Abogun, S.The contemporary manufacturing environment is shaped by the improvement in technology resulting in the situation of manufacture of multiple products by firms and the attendance increase in manufacturing overhead costs. The traditional costing techniques cannot cope with the increase in overheads resulting in the provision of incomplete information. Thus, manufacturing firms have to employ sophisticated costing techniques to generate complete information. Hence, the objectives of this study were to: establish the influence of contemporary costing techniques on the provision of information for decision making; and examine the effect of technology growth on the provision of product related information for managerial decision making. This study sampled 28 manufacturing firms in kwara state and used structured questionnaire in data collection from accountants in the sampled firms. Ordered logit regression was used in data analysis. The study found that costing techniques of SMA significantly influence the provision of information for decision; and technology growth significantly affects the provision of product related information for managerial decision making. The study concludes that contemporary costing techniques can enhance the generation of information for managerial use in decision making in manufacturing firms. Hence, it is suggested that manufacturing firms should implement these costing techniques as they can deliver accurate information about product cost, customers and competitors.Item Decision-Usefulness of Non-Financial Information of Quoted Firms in Nigeria.(Faculty of Management Sciences, University of Ilorin, 2019) Abogun, S.; Salam, M. O.; Daud, A; Fakile, O. GOne of the major problems encountered by investors in Developing economies is inadequate reliable and relevant information for their investment decisions despite the audited annual financial statements of firms; hence the continuous search for information from other sources. This study examined the usefulness of non-financial information for investors’ decision among quoted firms in Nigeria. The explanatory research design was employed because this study examined the changes in investors’ decision due to changes in the non-financial information and other explanatory variables. The panel regression model was estimated by the fixed effect (within estimator) technique. The study found that non-financial information is statistically significant in explaining investors’ decision with a coefficient of 1.76 and a p-value of 0.000. The study concludes that non-financial information is decision-useful. It is therefore recommended that more efforts be made by officials of quoted firms in Nigeria towards disclosing more non-financial information, particularly information about future growth opportunities of firms; because the study revealed that they are relevant information for investment decision.Item Directors Heterogeneity and Financial Performance of Listed Deposit Money Banks in Nigeria(Department of Management and Accounting, Obafemi Awolowo University, Ile-Ife, 2017) Olubunmi Florence, Osemene; Abogun, S.; Olaoti, Y.I.; Ahmed, S.The study investigated directors' heterogeneity and its impact on banks financial performance over a period of seven years (2008-2014), Secondary data were collected from the annual financial statements of banks and were analysed with the ordinary least square regression technique. The result showed that board nationals have a negative significance on return on equity, board gender composition have a positive significance on return on equity, board ethnicity have a positive impact on return on equity, and board size have no significance on return on equity while bank size have negative significance impact on return on equity. The study concluded that directors' heterogeniety has significant impact on banks performance.Item Directors’ Heterogeneity and Financial Performance of listed Deposit Money Banks in Nigeria.(International Journal of Accounting and Management, 2017) Osemene, O. F.; Abogun, S.; Olaoti, Y.I.; Ahmed, S.The study investigated directors’ heterogeneity and its impact on banks financial performance over a period of seven years (2008-2014). Secondary data were collected from the annual financial statements of banks and were analyzed with ordinary least square regression technique. The result showed that board nationals have a negative significance on return on equity, board ethnicity have a positive impact on return on equity, and board size have no significance on return on equity while bank size have negative significant impact on return on equity. The study concluded that directors’ heterogeneity has significant impact on banks performance.Item Earnings Predictability of Quoted Firms in Nigeria.(Centre for Research on Islamic Banking and Finance and Business, USA, 202) Olaniyi, T. A.; Abogun, S.; Salam, M. O.The inability of investors to predict future earnings of firms expose them to further risk such that potential investors may be scared away while existing ones may be prompted to withdraw their investment. Thus, it becomes imperative to evaluate the earnings predictability of Nigerian quoted firms with a view to establish the ability or inability of earnings to predict itself. Also, the study examined the impact of volatility on earnings predictability of Nigerian quoted firms. The total number of seventy-three (73) quoted Nigerian firms constitutes the population of this study and the entire 73 firms were studied. The causal relationship research design was adopted. The secondary data used were collected from the financial statements of quoted firms for the period 1996 to 2015. The system generalized method of moment (GMM) was used to estimate the dynamic panel regression models of the study. The study found that earnings of firms are predictable. The study also found that volatility has adverse effect on earnings predictability. It was therefore recommended more interest /investment in Nigerian firms since earnings information is available and is predictable while managements of firms should reduce instability in reported earnings.Item Effect of Oil Dependence on Sustainability of Nigeria’s Economy.(Published by Federal University, Gashua, Nigeria., 2016) Olaniyi, T. A.; Christopher, E; Abogun, S.Continuous sustainable economy for growth and development which remains the true essence of governance is threatened in Nigeria due to insufficient fund caused by dwindling oil revenue upon which the country relies for sustainability. This reliance had resulted into lack of sufficient funds for some states government and parastatals to cater for their expenditure needs. This work studied the effect of oil revenue dependence on Nigeria’s economy growth with with a view to determine the extent to which the country can sustain its economy (meet its recurrent (Rec_Expt), capital expenditures (Cap_Expt) and external debt servicing (Ext_Debt)) from its reliance on oil revenue. Modeling sustainability as the dependent variable, oil revenue (Oil_Revt) was the independent variable while non-oil revenue (Non_OilRevt) and (Ext_Debt) served as control variables. Fully Modified Least Square (FMOLS) Regression Technique was used to estimate the model over a 45 years’ period (1970-2014) while Augmented Dickey Fuller Unit Root Test and Single Equation Co-Integration Test were carried out. The study reveals that all the variables at 5% are stationery at I(1)with a long run relationships while oil revenue oscillates and dwindles during the period. It was also found that Oil_Revt is statistically significant (88% and 80%) respectively in sustaining Nigeria’s economy (financing the country’s Cap_Expt and Rec_Expt) while Debt servicing was found to be irregular. Non_OilRevt could only finance Rec_Expt by 20%, Cap_Expt by 12% but is negatively related to Ext_Debt). Since (Non_OilRevt) cannot sustain the economy, the downward trend in oil revenue spells doom for the country and as such swift diversification of the economy from oil revenue dependence to a country with multiple revenue sources is recommended alongside implementing strategies for blocking revenue leakage for Nigeria to become a truly independent nation with independence.Item Environmental Accounting Information and the Performance of Quoted Companies in Nigeria.(Published by Department of Accounting, University of Ilorin., 2015) Abogun, S.; Fagbemi, T. O.; Fadipe, T. G.This study provides an insight on companies’ attitude to its environment. The objective of this study is to investigate relationship between the disclosure of environmental information and performance of quoted companies in Nigeria. The data were collected from Audited Annual Financial Report and Accounts of thirty-six randomly selected quoted companies in Nigeria. The data were analyzed using simple regression analysis. The findings of the result show that there is significant negative relationship between environmental accounting and Return on Capital Employed (ROCE) and Asset Turnover; and a significant positive relationship between environmental accounting and Net Profit Margin and Earnings per Share (EPS). Based on these findings, it was recommended that corporate organizations whose operations have impact on their environment should develop Operating Plan and Standard which focuses on their impact on the environment.Item Evaluation of Deposit Money Banks’ Efficiency in Nigeria: Data Envelopment Analysis(Department of Accounting and Finance and Business Administration, Fountain University, Osogbo,, 2017) Ajayi, M. A.; Nageri, I.K; Abogun, S.; Abdulmumin, B.A.Ability of banks to manage risk and make better use of informational disproportion between borrowers and lenders are the essence of bank’s activities. The efficiency of Nigerian banks has become more compelling bearing in mind the various banking reform and regulations adopted by the Central Bank of Nigeria in recent year. The objective of this study is to evaluate the efficiency of deposit money banks quoted on the Nigerian Stock Exchange during the period of 2011-2015. The study follows the intermediation approach, using the Data Envelopment Analysis. Result indicates that the national licensed banks have better mean efficiency score in 2011, 2012, 2013, the international licensed banks are better in 2014 and the 2015 score shows no significant difference. The best performing bank with international license is GT Bank while Stanbic IBTC and Sterling bank are the joint best practice banks with national license. The inefficiency is attributed to scale inefficiency rather than pure technical inefficiency. Recommendations include that the regulatory authorities should be proactive in their function to cover aspects of loan disbursement, deposit mobilization and investment assets and ensure compliance.Item Evaluation of Stock Market Development and its Contribution to Economic Growth in Nigeria(Published by Faculty of Management Sciences, Ekiti State University, Ado-Ekiti, Nigeria., 2018) Ajayi, M. A.; Abogun, S.; Mosobolaje, A.AStudies have been carried out on the impact of stock market development on economic growth across the globe but the findings remain inconclusive. This study therefore evaluates the contribution of stock market development to economic growth in Nigeria between the periods of 1986 to 2016. The study employed the method of short run error correction model (ECM) as analysis technique. The study revealed that only the banking sector development has significant direct relationship with the economic growth of Nigeria 10% level of significance while all other explanatory variables were not. Therefore, the study concluded there is no evidence that Nigerian stock market development contributed to the economic growth. It is therefore recommended that (1) stock market growth strategy should be pursued and all impediments to its development be removed (2) regulators and operators in the stock market should enhance the liquidity of the market (3) operators and participants should implement policy that will boost turnover ratio in the market.Item The global debate on budgeting: empirical evidence from Nigeria(University Dar es Salaam, Tanzania., 2009) Abogun, S.; Fagbemi, T. O.Empirical evidence from developed economies provides that budgeting is a veritable tool for planning, controlling, coordinating, communicating, evaluating and improving performance and decision making. On the other hand, some experts have mounted wide-ranging criticism of the manner in which budgetary systems are typically implemented. It is claimed that budgeting is not a worthwhile exercise, adds no value to organizations, managers are dissatisfied with it, and therefore should be abandoned. However, the main focus of this research is to provide empirical evidence from a developing economy on the relevance of the budgetary system. Primary source of data was used and data were collected through the use of a questionnaire. Although, a total of one hundred and ten completed questionnaires from nine selected manufacturing companies were analyzed. A non-Parametric test and descriptive statistics were used for data analysis. This study shows that, though the budgetary system is not perfect, its usefulness cannot be over-emphasized. The study reveals that budgeting is perceived by managers as a worthwhile exercise and a value-creation process. It is recommended therefore that research should be directed towards improving the budgetary system rather than totally abandoning it.Item Impact of activity based costing on firms’ performance and firms’ value creation function: The Nigerian experience.(Journal of Social and Management Sciences. Published by the Faculty of Social Sciences, Delta State University, Abraka, Delta State, Nigeria., 2014) Fagbemi, T. O.; Yahaya, K. A; Abogun, S.The advent of globalization and its attendant competitive pressures appear to imply that the more successful firms will be those that evolve strategic initiatives continually. Such strategic initiative is to reduce cost through the use of cost management techniques; and one of such technique is activity-based costing. This paper, examined the impact of the adoption and implementation of activity-based costing, as a contemporary cost management technique tool, on firms performance using Nigerian quoted companies. The study adopted a survey methodology. Data were collected from 38 manufacturing companies with offices located in Lagos State, Nigeria using a questionnaire. The data were analyzed using Kendall t-tab correlations and regression analysis. Results obtained suggest that the adoption of activity based costing significantly influence firnm's performance and that it has a significant positive relationship with firm 's value creation function.Item The Impact of Corporate Social Responsibility Expenditure on Firm Performance and Firm Value of Nigerian Banks(Department of Business Administration, University of Ilorin, 2013) Abogun, S.; Fagbemi, T. O.; Uwuigbe, O.R.Corporate social responsibility has attained a high level of discourse among practitioners and scholars around the world and more recently in a new dimension in Nigeria. However, CSR remains an equivocal construct with divergent views on its relationship with firm performance and firm value. This study therefore examines the relations between CSR expenditure on firm performance and firm values. Data were sourced from the annual reports of quoted firms on the Nigerian Stock Exchange using exploratory research design. The Pearson product moment correlation coefficient and OLS method of regression analysis were used to estimate the relationship in the variables of study. Return on Asset (ROA) and Return on Equity (ROE) were used to proxy firm performance while Earnings per Share (EPS) and Dividend per Share (DPS) were used to proxy firm value. The study reveals that CSR has impact on ROA, ROE, DPS and EPS at varying degrees. The study therefore concludes that there is positive relationship between CSR and firm performance and firm value. It is recommended that the banks should make substantial investment into the environment where if operates for improved performance.Item Impact of Working Capital Management on Financial Performance of Quoted Consumer Goods Manufacturing Firms in Nigeria(Published by College of Business and Social Sciences, Covenant University, Ota, Nigeria., 2017) Ajayi, M. A.; Abogun, S.; Odediran, T.H.Working capital management is indispensable in strengthening firms’ liquidity position. A weak liquidity position poses a threat to the solvency of the company and makes it unsafe as well as unsound. The persistent winding up of most Nigerian manufacturing firms and the recent decline in the world oil price which significantly affected all the oil producing countries in the world of which Nigeria is not an exception demand for effective and efficient management of resources to guarantee going concern. This study examined the impact of working capital management on financial performance of quoted consumer goods manufacturing firms in Nigeria by specifically examined the impact of working capital management on return on assets and gross operating profit. The secondary data used were obtained from annual financial statements over a period of ten (10) years from 2005 to 2014 of purposively sampled fifteen (15) firms. Descriptive statistics were used to measure variations, statistical inferences were drawn using correlation and panel regression analysis was applied on performance and working capital management indicators to test the formulated hypotheses. The findings revealed that efficient working capital management increases financial performance. In conclusion, a negative relationship exists between Cash Conversion Cycle (CCC) and financial performance while there is a positive relationship between Average Collection Period (ACP) and financial performance. The study recommended that firms within the industry may increase their average collection period above the present industry average collection period of 58 days and proper analysis of working capital components should be constantly carried out to ensure that those critical areas for decision making process as it related to each of the performance measurement variables are identified and properly examined.Item Implementation of Activity-based costing and accurate cost information in selected Nigerian manufacturing firms(Centre for Social and Economic Research, Federal University, Dutse -Ma., 2021-12) Adigbole, Ezekiel; Dikki, A. C; Abogun, S.; Olaoye, C. O; Fakile, O.G.The continued use of traditional costing for processing cost information in manufacturing firms in Nigeria has led to the reportage of distorted cost information and consequently wrong decisions making and performance measurement. It is imperative that firms use cost information that is complete for decision making. Activity based costing is required for generating complete and undistorted cost information. Hence, the objectives of this study were to: examine the effect of technology growth on the implementation of Activity- Based Costing (ABC); evaluate the influence of ABC on accurate cost information; and; and examine the impact of technology growth on accurate cost information. Survey research design was employed. The population of the study consisted of three hundred and eighty - five respondents in seventy - seven listed manufacturing firms in Lagos and Ogun States. The sample of the study consisted of three hundred and twenty- five respondents in sixty - five randomly selected manufacturing firms. Primary data used were collected through questionnaire administration. Data analysis was done using Partial Least Squares Structural Equation Modeling (PLS -SEM). The study found that: technology growth has positive significanteffect on ABC implementation (β = 0.538, p < 0.01); ABC has positive significant influence on accurate cost information (β = 0.634, p < 0.01); and Technology growth has positive significant impact on accuracy of cost information (β = 0.224, p < 0.01). It was concluded that ABC is relevant for generating accurate cost information. The study recommended among others that Nigerian manufacturing firms should implement ABC to achieve accuracy of cost information.