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Treasury Single Account (TSA) and cost of governance: Survey of MDAs in Anambra State Okeke, Nnamdi Lawrence; Ezeala, George; Okoye, Nonso John; Egbunike, Chinedu Francis
Journal of Governance and Accountability Studies Vol. 3 No. 1 (2023): January
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jgas.v3i1.1479

Purpose: This study examines the effect of TSA on Nigeria’s public sector governance cost. Research methodology: This study employed a descriptive survey research design. Ten Federal Ministries, Departments & Agencies (MDAs) in Anambra State constituted the study population. The study chose Ten respondents from each MDA were selected using purposive sampling. This study employed primary data from a structured questionnaire for data collection. Results: The results show that e-accounting and TSA have a substantial impact on national spending by curbing leakages, but with little effect on federally generated revenue. Thus, e-accounting and TSA significantly impact the cost of governance. Limitations: The study relied only on questionnaire responses, which is the perception of public-sector employees in MDAs. Contributions: This study contributes to governance and policy research by identifying the benefits of TSA in reducing the overall cost of governance. Novelty: By integrating all government accounts, enabling the government to track and monitor its activities at any time, and giving the government a comprehensive view of its financial position, this study supports stakeholder theory, in addition to the Public Finance Management Perspective, which maintains that the government should effectively manage all financial resources (mobilization and expenditure) for the benefit of the population.

Climate change disclosure and financial performance of quoted oil & gas firms in Nigeria Agbo, Emmanuel; Egbunike, Chinedu Francis
Annals of Management and Organization Research Vol. 5 No. 3 (2024): February
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v5i3.1638

Purpose: Prior research has demonstrated the critical role that climate change disclosure plays in solving global sustainability challenges connected to human existence and the long-term viability of businesses. The goal of this study is to add to the existing literature on the impact of climate change-related disclosure on the financial performance of oil and gas companies in Nigeria. Research Methodology: The study adopted an ex post facto research design, and the final sample consisted of eight oil and gas companies listed on the NGX for the year 2012-2021. The final sample consisted of a balanced panel of 80 firm-year observations. The dependent variable was Return on Assets (ROA). Data were analyzed using a multiple regression model. Results: The findings showed a positive relationship between CCRD and ROA, which was also confirmed to be significant at the 5% significance level. Limitations: The model includes leverage, audit quality, and firm size, in addition to CCRD, to account for their effect on ROA. Therefore, other factors that may affect firm performance are not included in the model. Contribution: This study addresses one of the most important but less explored issues of environmental research in one of the largest economies in SSA. The data collected from the content analysis are original and provide important evidence of the impact of CCRD on firm performance. These findings encourage oil and gas companies to reduce their carbon emissions and disclose their carbon management activities.

Big Data Analytics and market competitiveness of selected firms in Lagos State, Nigeria Chike, Nwosu Kanayo; Mbamalu, Euphemia Ifunanya; Oguanobi, Chimezie Alex; Egbunike, Chinedu Francis
Annals of Management and Organization Research Vol. 4 No. 4 (2023): May
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v4i4.1713

Purpose: This study specifically evaluates the effect of Intangible Big Data Analytics Resources (IBDAR) and Tangible Big Data Analytics Resources (TBDAR) on a firm’s market competitiveness in manufacturing firms. The authors used RBV as the main theoretical framework to investigate this. Research methodology: This study used a survey research design. The study employed a non-probability sample and a final sample of seventy-two employees selected from manufacturing firms in Lagos State, Nigeria. Results: The hypotheses were tested using multiple linear regressions. The empirical results showed that the organizational use of TBDAR has a significant effect on Market Competitiveness (MCOM), and that the organizational use of IBDAR has a significant effect on MCOM. Limitations: First, the sample is restricted to only the Nigerian setting; to draw broader and deeper implications, it could be useful to take diverse samples from different contexts and sectors. Second, this study does not utilize the PLS-SEM technique to model mediators and moderators. Contribution: This study has significant policy implications for practitioners and is an original study based on primary data from Nigerian manufacturing firms.

The effect of FDI Net Inflow on the GDP growth rate: 1990-2021 Chike, Nwosu Kanayo; Oguanobi, Chimezie Alex; Mbamalu, Euphemia Ifunanya; Egbunike, Chinedu Francis
Journal of Multidisciplinary Academic and Practice Studies Vol. 1 No. 2 (2023): May
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jomaps.v1i2.1637

Purpose: This study investigates the impact of foreign direct investment (FDI) net inflows on Nigeria’s gross domestic product (GDP) growth rate from 1990 to 2021, addressing the ongoing debate on the role of FDI in fostering sustainable economic growth. Methods: The research employed an ex post facto design using secondary data obtained from the World Bank’s World Development Indicators. Stationarity was tested using the Augmented Dickey-Fuller (ADF) unit root test. Ordinary Least Squares (OLS) regression was applied, complemented by robustness checks using Dynamic Ordinary Least Squares (DOLS), to test the hypotheses and validate the model. Results: Findings reveal that FDI net inflows significantly and positively affect GDP growth in Nigeria (p<0.05). Control variables such as the degree of economic openness (DEGO) and inflation (INFL) showed positive but statistically non-significant effects under OLS, though DOLS results indicate DEGO as positive and significant while INFL was negative and significant. The results confirm that FDI contributes to economic growth by promoting capital accumulation, technology transfer, and managerial expertise. Conclusion: The study concludes that FDI net inflows play a critical role in driving Nigeria’s economic growth. Policies aimed at improving openness, institutional quality, and macroeconomic stability are necessary to maximize the benefits of FDI. Limitations: The analysis is limited to Nigeria’s data and selected control variables, restricting broader generalization across Sub-Saharan Africa. Contribution: This study enriches the literature on FDI-growth nexus in developing economies, offering policy insights for enhancing sustainable growth through effective FDI management.

Accounts payable turnover and firm performance of quoted manufacturing firms in Nigeria Oranefo, Patricia Chinyere; Egbunike, Chinedu Francis
International Journal of Accounting and Management Information Systems Vol. 1 No. 1 (2023): February
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/ijamis.v1i1.1247

Purpose: The objective of this study is to ascertain the nexus of accounts payable turnover and firm performance of quoted manufacturing firms in Nigeria. Research methodology: This study adopted an ex-post facto research design. The sample comprised seventy-five non-financial firms quoted on the Nigerian Exchange Group (NGX). The study purposively selected all available non-financial firms during the study period: 2010-2019. This study utilized secondary sources of data, i.e., computed financial ratios from annual financial statements downloaded from the MachameRatios® database. The data were analyzed using multiple regression techniques. Results: There is a non-significant positive effect of the accounts payable turnover ratio on ROA (p=0.9729) and ROE (p=0.2669); and; a significant negative effect of the accounts payable turnover ratio on Tobin’s Q (p=0.0140). Conlusion:Accounts payable turnover has no significant effect on ROA and ROE but negatively affects Tobin’s Q. This highlights its limited impact on accounting returns but notable influence on market value. Strategic management of payables remains essential. Limitations: The limitation of the study is the failure to account for endogeneity concerns in firm performance studies. Contribution: The study contributes to the working capital management literature and specifically to the credit management axiom. It also showed a differential effect of APT on various firm performance proxies which have significant implications for managers, e.g., finance officers in corporations that intend to utilize the accounts payable turnover as a strategy to grow the performance of the firm in the short and long term.

Treasury Single Account (TSA) and cost of governance: Survey of MDAs in Anambra State Okeke, Nnamdi Lawrence; Ezeala, George; Okoye, Nonso John; Egbunike, Chinedu Francis
Journal of Governance and Accountability Studies Vol. 3 No. 1 (2023): January
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jgas.v3i1.1479

Purpose: This study examines the effect of TSA on Nigeria’s public sector governance cost. Research methodology: This study employed a descriptive survey research design. Ten Federal Ministries, Departments & Agencies (MDAs) in Anambra State constituted the study population. The study chose Ten respondents from each MDA were selected using purposive sampling. This study employed primary data from a structured questionnaire for data collection. Results: The results show that e-accounting and TSA have a substantial impact on national spending by curbing leakages, but with little effect on federally generated revenue. Thus, e-accounting and TSA significantly impact the cost of governance. Limitations: The study relied only on questionnaire responses, which is the perception of public-sector employees in MDAs. Contributions: This study contributes to governance and policy research by identifying the benefits of TSA in reducing the overall cost of governance. Novelty: By integrating all government accounts, enabling the government to track and monitor its activities at any time, and giving the government a comprehensive view of its financial position, this study supports stakeholder theory, in addition to the Public Finance Management Perspective, which maintains that the government should effectively manage all financial resources (mobilization and expenditure) for the benefit of the population.

Climate change disclosure and financial performance of quoted oil & gas firms in Nigeria Agbo, Emmanuel; Egbunike, Chinedu Francis
Annals of Management and Organization Research Vol. 5 No. 3 (2024): February
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v5i3.1638

Purpose: Prior research has demonstrated the critical role that climate change disclosure plays in solving global sustainability challenges connected to human existence and the long-term viability of businesses. The goal of this study is to add to the existing literature on the impact of climate change-related disclosure on the financial performance of oil and gas companies in Nigeria. Research Methodology: The study adopted an ex post facto research design, and the final sample consisted of eight oil and gas companies listed on the NGX for the year 2012-2021. The final sample consisted of a balanced panel of 80 firm-year observations. The dependent variable was Return on Assets (ROA). Data were analyzed using a multiple regression model. Results: The findings showed a positive relationship between CCRD and ROA, which was also confirmed to be significant at the 5% significance level. Limitations: The model includes leverage, audit quality, and firm size, in addition to CCRD, to account for their effect on ROA. Therefore, other factors that may affect firm performance are not included in the model. Contribution: This study addresses one of the most important but less explored issues of environmental research in one of the largest economies in SSA. The data collected from the content analysis are original and provide important evidence of the impact of CCRD on firm performance. These findings encourage oil and gas companies to reduce their carbon emissions and disclose their carbon management activities.

Big Data Analytics and market competitiveness of selected firms in Lagos State, Nigeria Chike, Nwosu Kanayo; Mbamalu, Euphemia Ifunanya; Oguanobi, Chimezie Alex; Egbunike, Chinedu Francis
Annals of Management and Organization Research Vol. 4 No. 4 (2023): May
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v4i4.1713

Purpose: This study specifically evaluates the effect of Intangible Big Data Analytics Resources (IBDAR) and Tangible Big Data Analytics Resources (TBDAR) on a firm’s market competitiveness in manufacturing firms. The authors used RBV as the main theoretical framework to investigate this. Research methodology: This study used a survey research design. The study employed a non-probability sample and a final sample of seventy-two employees selected from manufacturing firms in Lagos State, Nigeria. Results: The hypotheses were tested using multiple linear regressions. The empirical results showed that the organizational use of TBDAR has a significant effect on Market Competitiveness (MCOM), and that the organizational use of IBDAR has a significant effect on MCOM. Limitations: First, the sample is restricted to only the Nigerian setting; to draw broader and deeper implications, it could be useful to take diverse samples from different contexts and sectors. Second, this study does not utilize the PLS-SEM technique to model mediators and moderators. Contribution: This study has significant policy implications for practitioners and is an original study based on primary data from Nigerian manufacturing firms.

Gearing ratio and operating cash flow performance of quoted manufacturing firms in Nigeria Oranefo, Patricia Chinyere; Egbunike, Chinedu Francis
International Journal of Financial, Accounting, and Management Vol. 4 No. 4 (2023): March
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/ijfam.v4i4.1090

Purpose: The study examines the effect of gearing ratios on the operating cash flow performance of 36 manufacturing firms listed on the Nigeria Stock Exchange from 2011 to 2018 financial years. The study evaluated the effect of capital gearing, income and the operating gearing ratios on the operating cash flow of quoted manufacturing firms. Research methodology: The study adopts an ex post facto research design utilizing a final sample of thirty-six (36) purposively selected manufacturing firms quoted on the Nigerian Stock Exchange (NSE). The study utilized financial statement data compiled by MachameRATIOS®. The data were analyzed using multiple regression techniques. Results: There is a negative effect of capital and income gearing ratio on operating cash flows with the former not significant, and a positive non-significant effect of operating gearing ratio on operating cash flow. Limitations: The focus on consumer and industrial goods firms limits the generalizability of the study findings to other sectors of the economy. The study did not test for Granger causality. Contribution: The study contributes to the literature in the context of developing countries, on the importance of monitoring the different gearing ratios, more especially the income gearing ratio to ensure positive cash flow. The findings also confirm that managers from emerging economies can alter business risk to sustain favorable performance. The study has implications for investors assessing investment decisions on the need to be wary of the different market and financial risk profiles computed from the various measures in making informed investment decisions.

Macroeconomic factor, firm characteristics and inventory holding in Nigeria: A quantile regression approach Egbunike, Chinedu Francis; Oranefo, Patricia Chinyere
International Journal of Financial, Accounting, and Management Vol. 5 No. 1 (2023): June
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/ijfam.v5i1.1096

Purpose: Prior studies show that inventory holding is closely linked to liquidity and procyclical dependent on the combination of macroeconomic and firm characteristics. Thus, conditional linear factor models such as OLS should fail to explain the inventory-holding motive, especially in the context of developing countries. This study seeks to empirically investigate the determinants of corporate inventory holding based on evidence from pharmaceutical companies in Nigeria. Research methodology: The study adopts the ex post facto research design. The final sample was eight pharmaceutical & healthcare firms quoted on the Nigerian Stock Exchange (NSE). The data were analysed using the quantile regression technique. Results: The results showed that the inflation rate had a positive effect on the inventory holding distribution at upper quantiles (75th); and, the cash conversion cycle on the inventory holding was significant at different quantiles (25th, 50th and 75th). Profitability and liquidity were non-significant at different quantile distributions. Limitations: The focus on pharmaceutical firms limits the generalizability of the study findings to other sectors of the economy. Contributions: The study contributes to the literature in the context of developing countries, on the impact of varying firm characteristics and inflation rates on the different conditional distribution of the regressand, i.e., inventory holding.

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