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All Journal International Journal of Financial, Accounting, and Management Annals of Management and Organization Research
Abu, Samuel Enejoh
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Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Audit committee characteristics and firm financial performance of quoted industrial goods firms in Nigeria Abu, Samuel Enejoh
International Journal of Financial, Accounting, and Management Vol. 5 No. 4 (2024): March
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/ijfam.v5i4.1718

Abstract

Purpose: This study examines the effects of audit committee characteristics on the financial performance of listed industrial goods firms in Nigeria. Research methodology: This study used an ex-post factor research design and utilized secondary data collected from the annual reports and accounts of thirteen (13) sampled industrial goods firms for a period of 10 years (2013-2022). The sample of firms was obtained using a purposive sampling technique. Data were analyzed using descriptive statistics, correlation, and regression analysis (GLS Random Effect) with the aid of Stata 13. Results: The findings reveal that an insignificant positive effect exists between audit committee size and financial performance (ROA and ROE), while audit committee independence has a significant negative effect on return on assets (ROA) and a negative insignificant effect on return on equity (ROE), and audit committee meetings have a positive significant effect on asset (ROA) and a positive insignificant effect on return on equity (ROE). Limitations: The research is limited to only those companies in the industrial goods sector listed on the Nigerian Stock Exchange from 2013 to 2022 and only focuses on the effect of audit committee characteristics on firm financial performance. There was also incomplete data, which did not allow for a complete and thorough analysis of the entire sector. Contribution: This study contributes to the existing body of literature on the effect of audit committees on the financial performance of Nigeria’s listed industrial goods sector. It provides insights that can assist the board in formulating appropriate strategies to improve their performance.
Audit committee characteristics and firm financial performance of quoted industrial goods firms in Nigeria Abu, Samuel Enejoh
International Journal of Financial, Accounting, and Management Vol. 5 No. 4 (2024): March
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/ijfam.v5i4.1718

Abstract

Purpose: This study examines the effects of audit committee characteristics on the financial performance of listed industrial goods firms in Nigeria. Research methodology: This study used an ex-post factor research design and utilized secondary data collected from the annual reports and accounts of thirteen (13) sampled industrial goods firms for a period of 10 years (2013-2022). The sample of firms was obtained using a purposive sampling technique. Data were analyzed using descriptive statistics, correlation, and regression analysis (GLS Random Effect) with the aid of Stata 13. Results: The findings reveal that an insignificant positive effect exists between audit committee size and financial performance (ROA and ROE), while audit committee independence has a significant negative effect on return on assets (ROA) and a negative insignificant effect on return on equity (ROE), and audit committee meetings have a positive significant effect on asset (ROA) and a positive insignificant effect on return on equity (ROE). Limitations: The research is limited to only those companies in the industrial goods sector listed on the Nigerian Stock Exchange from 2013 to 2022 and only focuses on the effect of audit committee characteristics on firm financial performance. There was also incomplete data, which did not allow for a complete and thorough analysis of the entire sector. Contribution: This study contributes to the existing body of literature on the effect of audit committees on the financial performance of Nigeria’s listed industrial goods sector. It provides insights that can assist the board in formulating appropriate strategies to improve their performance.
Effect of Board Characteristics on Financial Performance of Listed Healthcare Firms in Nigeria Abu, Samuel Enejoh; Bamidele, Obaya Moses
Annals of Management and Organization Research Vol. 3 No. 3 (2022): February
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v3i3.1327

Abstract

Purpose: This study was conducted to investigate the relationship between board characteristics and the financial performance of listed healthcare firms in Nigeria. Research methodology: The study, which covered a seven-year period from 2015-2021, made use of secondary data sourced from published annual reports and accounts of five purposively selected companies on the Nigerian Stock Exchange. Data analysis was done by means of descriptive statistics, a correlation matrix, and some diagnostic tests using STATA 13. Results: The findings show that board characteristics consisting of board size, board independence, board gender diversity, and board meetings have a negative, non-significant relationship with performance. This study concludes that board size should be increased, the number of non-executive members of the board should be increased with members having vast knowledge and competency in governance, the number of women on the board should be increased, and frequent and necessary board meetings should be encouraged and possibly regulated in order not to create room for waste of resources and time. Limitations: The study’s main limitations are that it did not use other financial-based measurements for financial performance, used incomplete data, and used a small sample size. Contribution: The results of the study, based on the findings, will assist firms in the recommendation of the board size number and how its effectiveness should be increased and sustained. The study also contributes to other extant literature, as not many studies have been conducted in this area of the healthcare firms listed on the Nigerian Stock Exchange.
Co-Authors Bamidele, Obaya Moses