Browsing by Author "Adigbole, E. A."
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Item C-Suite Bias, Firm Characteristics, and Capital Structure Decision of Quoted Industrial Firms in Nigeria(Faculty of Management and Finance, University of Colombo, 2022) Fagbemi, T. O.; Kolawole, M. A; Adigbole, E. A.; Abogun, SegunMost people exaggerate their own skills and accomplishments, which can have disastrous results. The C-sSuite, 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-sSuite 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;, as because, the longer they remain at the helm of the company's affairs, the better their capital structure decisions.Item Constraint to growth and sustainability of micro, small and medium enterprises (MSMEs) in Nigeria: Perception of Entrepreneurs and Experts(African-Asian Rural Development Organisation, New Delhi, India, 2015) Samuel, T. T.; Adigbole, E. A.; Kasum, Abubakar SadiqIt was observed that most studies on the constraints of MSMEs are based on perceptions of existing entrepreneurs. However, these researchers believed that the question of why there is a poor expansion of MSMEs in Nigeria can be more appropriately answered by the existing entrepreneurs while the issue of poor rate of establishment of new MSMEs can be better answered by potential entrepreneurs. On the other hand, the experts can give a balanced position. Hence, the study adopted panel study by considering the responses of the potential and existing entrepreneurs as well as that of the experts. The study revealed that the constraints of MSMEs in Nigeria are generally high. However, the supply side constraints are the highest followed by government and regulations. The least constraints are the demand side constraints. The factors that are rated very high are funding and access to credit, market and marketing, risks and return ratio and inadequate technical and managerial skills, corruption, inadequate entrepreneurial knowledge and skills and attitude as well as poor macro-economic environment.Item Corporate sustainability disclosure and shareholders’ wealth of selected listed companies in Nigeria(Faculty of Management Sciences, Federal University, Dutsin-Ma, Katsina State, 2021) Osemene, O. F.; Abogun, Segun; Abdulsalam, I.; Adigbole, E. A.The continued agitation over social costs and benefits by stakeholders necessitated the need for sustainability accounting disclosure globally. Corporate scandals and the effects of firms’ activities on the environment, people, and the economy are capable of impacting upon the firms, particularly shareholders’ value. This has raised fundamental question on the extent to which existing corporate disclosures reveals systemic risks and true cost of doing business in today’s world, especially in Nigeria. This study examined the impact of corporate sustainability disclosure on shareholders’ wealth focusing on the quoted companies in Nigeria. Secondary data was obtained from the annual reports of the three quoted Nigerian companies and they were analyzed using panel least square (random effect) estimator. Findings revealed economic disclosure and environmental disclosure had a negative significant impact with (p-value 0.000) respectively while social disclosure had a positive significant impact (p-value 0.037) on shareholders’ fund. The study concluded that sustainability disclosure influenced shareholders’ wealth of listed companies in Nigeria. This study recommended that listed sampled companies should increase disclosure on the effects of firms’ activities on all sustainability disclosure dimensions.Item 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 Income Smoothing and Firm Value in a Regulated Market: The Moderating Effect of Market Risk(Emerald Publishing Limited on behalf of the Department of Accountancy, Faculty of Economics and Business, Universitas Airlangga, Indonesia., 2021) Abogun, Segun; Adigbole, E. A.; Olorede, T. E.Purpose – This study aims to examine the impact of income smoothing on the value of firms in a regulated security market, moderated by market risk. This is based on the prevalence of accounting scandals resulting in the collapse of firms which has been attributed to the opportunistic behaviors of managers. Design/methodology/approach – The ex post facto research design was employed, and as such, data were gathered from secondary sources. The quantitative approach was also used in the study. Furthermore, the system generalized method of moments (Blundell–Bond) panel estimation technique was used for analyzing the data. Income smoothing was measured using the accrual based methods, while firm value was measured using share price. Findings – The study found that income smoothing has a negative significant impact on firm value. The study also revealed that market risk is a significant variable that defines the relationship between income smoothing and firm value. Originality/value – Testing the moderating effect of market risk on the relationship between income smoothing and firm value is unique to this study, particularly from a regulated security market and emerging economy.Item Integrated reporting and corporate performance of listed industrial goods companies in Nigeria(Department of Accounting, Modibbo Adama University, Yola., 2022) Abogun, Segun; Adigbole, E. A.; Azeez, T. A.; Ibrahim, S; Osemene, O.FThe traditional financial reporting style has created some information gaps which, in some cases, have led to financial crises. This has become a source of concern calling for urgent attention in the contemporary business world. Hence, the study examined the impact of integrated reporting on corporate performance of listed industrial goods companies in Nigeria. The objectives of this study were to: evaluate the influence of financial capital reporting, manufactured capital reporting, human capital reporting, intellectual capital reporting, social capital reporting and natural capital reporting on corporate performance. The population of the study consisted of all the 13 listed industrial goods companies in Nigeria and all of them were used for the study. Secondary data used were extracted from the published annual audited financial reports of the companies studied from 2013 to 2020. The pooled Ordinary Least Square regression was used in data analysis. The study found that financial capital reporting, manufactured capital reporting, intellectual capital reporting, human capital reporting, and social capital reporting, each has a positive significant influence on corporate performance ( β = 0.0203, P < 0.05; β = of 0.0639, P < 0.05; β = 0.0118, P < 0.01; β = 0.0011, P < 0.10; β.= 0.4252, P < 0.01) respectively; and while natural capital reporting has a negative insignificant impact on corporate performance (β = of - 0.005, P < 0.01). The study concluded that disclosing the six components (financial and non-financial) of integrated reporting improve performance of listed industrial goods companies in Nigeria. Consequently, this study recommended that industrial goods’ firms should consistently disclose all sources of funds and intensify initiatives to create social cohesion in order to encourage greater stakeholders’ acceptance.Item Strategic cost management practices and customer value enhancement in selected quoted manufacturing firms in Lagos and Ogun States, Nigeria(Faculty of Management Sciences, Federal University, Dutsin-Ma, 2022) Adigbole, E. A.; Fagbemi, T. O.; Abogun, Segun; Alabi, J. A.The pursuance of customers value should be the goal of any manufacturing firm in Nigeria as this is the key to remaining competitive in a competitive environment. Strategic cost management practices can deliver customer value enhancement. Hence, the objectives of this study were to: assess the influence of Activity Based Costing (ABC) on Customer Value Enhancement; examine the effect of Activity Based Management (ABM) on CVE; and evaluate the impact of Life Cycle Costing (LCC) on CVE. Survey research design was employed. Three hundred and eighty - five respondents in seventy - seven listed manufacturing firms in Lagos and Ogun States constituted the population of this study and the sample consisted of three hundred and twenty- five respondents in sixty - five randomly selected manufacturing firms. Questionnaire administration was used in collecting the primary data used. Partial least squares - Structural equation modeling was used in data analysis. The study found that: ABC has positive significant effect on CVE enhancement (β = 0.365, p < 0.01); ABM has positive insignificant influence on CVE (β = 0.084, p > 0.10); and LCC has positive significant impact on CVE (β = 0.395, p < 0.01). It was concluded that strategic cost management practices are relevant for the enhancement of customer value. The study recommended that manufacturing firms in Nigeria should continue to implement strategic cost management techniques to enhance customer value for profitability improvement.