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Effect of Naira/Us Dollar exchange rate volatility on the performance of the stocks market in Nigeria Shettima, Mustapha; Abdussalam, Yusuf; Olayinka, Aminu Abdulrahim
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.v4i4.1695

Abstract

Purpose: This study investigates the influence of various macroeconomic factors, including the exchange rate, interest rate, inflation rate, and Gross Domestic Product, on the performance of the Nigerian Stock Exchange NSE 100 index. Utilizing a decade of annual data spanning from 2011 to 2021, this research employs the Augmented Dickey-Fuller test to explore the impact of these macroeconomic variables on stock market performance. Research methodology: Within this context, the time series Autoregressive Distributed Lag (ARDL) model is employed to discern the ramifications of naira/US dollar exchange rate volatility on Nigeria’s stock market performance. Results: Multiple regression analysis results indicate a significant negative effect of the exchange rate on share returns, revealing that a 10% increase in the real exchange rate correlates with a 0.15% decrease in the ASPI. Similarly, the inflation rate is associated with a negative coefficient, suggesting an adverse effect on stock prices. In contrast, interest rates and GDP exhibit positive coefficients, with 5% and 10% impacts on the ASPI, respectively. Limitation: All data used in this study were secondary. However, data from previous years were not readily available. This is the main limitation of this study. Contribution: Ultimately, this study underscores the importance of forecasting the exchange rate as a pivotal determinant of business success, offering recommendations for future endeavors.
A panel regression analysis of corporate governance mechanism and financial performance of listed cement industries in Nigeria Olayinka, Aminu Abdulrahim; Kaka, Emmanuel John
International Journal of Financial, Accounting, and Management Vol. 7 No. 2 (2025): September
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/ijfam.v7i2.2812

Abstract

Purpose: Inquire into the significant correlation allying corporate governance mechanisms (CGMs) with financial performance (FP) of the prominent quoted cement firms in Nigeria. Methodology/approach: The study use panel data statistical modelling to investigate the time-dependent effects across different firms. The data analysis is based on a purely numerical dataset obtained through desk research, which was then scrutinized using the STATA 14.0 software package along with suitable statistical and econometric tools. Results/findings: The findings indicate a positive correlation between board structures and the FP of the selected cement companies in Nigeria. While the size of the board does not significantly influence performance, the presence of independent directors on the board positively affects financial performance. Conversely, there is a negative correlation between directors' compensation and the financial performance of these firms, suggesting that an increase in directors' compensation may lead to a decline in financial FP. Conclusion: The study concludes that there is a positive relationship between board structures and the financial performance, though board size is not a critical factor but the presence of independent directors on the board positively impacts financial performance. Limitations: The analysis is confined to five years Annual report and financial statements of three major firms in the Nigerian cement industry, covering a period from 2019 to 2023 using Panel-Corrected Standard Errors Regression model. Contribution: This comprehensive study evaluates the current state of corporate governance practices (CGPs) in Nigeria, aiming to identify improvements for CG policies.
Factors influencing students academic performance: Case of Mai Idris Alooma Polytechnic Geidam Adamu, Ibrahim Ghide; Olayinka, Aminu Abdulrahim; Usman, Mohammed
Journal of Social, Humanity, and Education Vol. 4 No. 2 (2024): February
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jshe.v4i2.1735

Abstract

Purpose: This study aimed to investigate the factors that influence the performance of students in Mai Idris Alooma Polytechnic Geidam Yobe State in the Northeastern Nigeria. Research methodology: The paradigm of this study is to use the final-year students of Mai Idris Alooma Polytechnic Geidam as independent variables. The dependent variables included factors influencing students’ academic performance. Factors included a) personal conditions, b) study habits, c) home-related aspects, d) school-related aspects, and e) lecturer-related factors. Results: The study identified different factors and the highest impact among the variables that influence the academic performance of students in institutions other than those traditionally studied. Among these five (5) domains, lecturer-related aspects and personal condition factors fall behind school-related factors. Nonetheless, both categories were still deemed highly impactful. Conversely, home-related factors and study habits had little effect on students’ academic performance in the case study. Limitations: The research analysis was limited to a self-report questionnaire gathered from final-year students Mai Idriss Alooma Polytechnic Geidam in October 2023. Contribution: With the outcome of this research, all students, particularly year one prospective students, and those students who are not as academically strong will be informed about the factors that influence their academic performance.
Effect of Naira/Us Dollar exchange rate volatility on the performance of the stocks market in Nigeria Shettima, Mustapha; Abdussalam, Yusuf; Olayinka, Aminu Abdulrahim
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.v4i4.1695

Abstract

Purpose: This study investigates the influence of various macroeconomic factors, including the exchange rate, interest rate, inflation rate, and Gross Domestic Product, on the performance of the Nigerian Stock Exchange NSE 100 index. Utilizing a decade of annual data spanning from 2011 to 2021, this research employs the Augmented Dickey-Fuller test to explore the impact of these macroeconomic variables on stock market performance. Research methodology: Within this context, the time series Autoregressive Distributed Lag (ARDL) model is employed to discern the ramifications of naira/US dollar exchange rate volatility on Nigeria’s stock market performance. Results: Multiple regression analysis results indicate a significant negative effect of the exchange rate on share returns, revealing that a 10% increase in the real exchange rate correlates with a 0.15% decrease in the ASPI. Similarly, the inflation rate is associated with a negative coefficient, suggesting an adverse effect on stock prices. In contrast, interest rates and GDP exhibit positive coefficients, with 5% and 10% impacts on the ASPI, respectively. Limitation: All data used in this study were secondary. However, data from previous years were not readily available. This is the main limitation of this study. Contribution: Ultimately, this study underscores the importance of forecasting the exchange rate as a pivotal determinant of business success, offering recommendations for future endeavors.
Financial statement analysis as a tool for investment decisions and assessment of companies’ performance Olayinka, Aminu Abdulrahim
International Journal of Financial, Accounting, and Management Vol. 4 No. 1 (2022): June
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/ijfam.v4i1.852

Abstract

Purpose: Financial Statement Analysis (FSA) and Interpretation is a vital instruments for good management decision-making in business. The main objective of this study is therefore to determine how firms could use FSA and its interpretation to aid funding and investment decisions and to avert low profitability or low investment returns. Research methodology: Data from the annual report of Nestlé Nigeria Plc are utilized for the Analysis and Interpretation of the financial ratio using descriptive statistical analytical tools for presentations. Result: The study concludes that analysis of FSs is adequate for effective decision making and that firms should pay great attention to the use of FSA to properly equip themselves with this tool and also a combination of different ratios should be used in analyzing a firm's financial performance. Proper use of FSA should be made not only in investment but also in other areas of decision-making. Limitations: The study is limited to FSs published by Nestlé Nigeria plc between the years 2014 to 2019. Contribution: The paper serves as an aid to different categories of investors when making critical investment decisions.
Factors influencing students academic performance: Case of Mai Idris Alooma Polytechnic Geidam Adamu, Ibrahim Ghide; Olayinka, Aminu Abdulrahim; Usman, Mohammed
Journal of Social, Humanity, and Education Vol. 4 No. 2 (2024): February
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jshe.v4i2.1735

Abstract

Purpose: This study aimed to investigate the factors that influence the performance of students in Mai Idris Alooma Polytechnic Geidam Yobe State in the Northeastern Nigeria. Research methodology: The paradigm of this study is to use the final-year students of Mai Idris Alooma Polytechnic Geidam as independent variables. The dependent variables included factors influencing students’ academic performance. Factors included a) personal conditions, b) study habits, c) home-related aspects, d) school-related aspects, and e) lecturer-related factors. Results: The study identified different factors and the highest impact among the variables that influence the academic performance of students in institutions other than those traditionally studied. Among these five (5) domains, lecturer-related aspects and personal condition factors fall behind school-related factors. Nonetheless, both categories were still deemed highly impactful. Conversely, home-related factors and study habits had little effect on students’ academic performance in the case study. Limitations: The research analysis was limited to a self-report questionnaire gathered from final-year students Mai Idriss Alooma Polytechnic Geidam in October 2023. Contribution: With the outcome of this research, all students, particularly year one prospective students, and those students who are not as academically strong will be informed about the factors that influence their academic performance.
Analysing financial performance of listed cement industries in Nigeria: Financial Ratio Approach Olayinka, Aminu Abdulrahim; Mustapha, Shettima
Annals of Management and Organization Research Vol. 3 No. 4 (2022): May
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v3i4.1394

Abstract

Purpose: The grounds for this study are to reflect a quantitative connection allying the financial statements of different firms at different periods and how the financial performance (FP) of firms can be measured using financial ratios. Research methodology: This research employs descriptive research with a quantitative approach focusing on calculations. Data were analysed through the Financial Ratio Analysis (FRA). Results: The comparative FRA unlocks the overall FP of the three firms. The result refill that, on average, Dangote Cement plc maintain the lead, CCNN/BUA Cement second, while Lafarge Africa plc is the least in all the FP indicator used. Limitations: The analysis is restricted to ten years FSs published by the three giant firms in the cement industries in Nigeria plc between the years 2012 to 2021. Contribution: This analysis expatriates and, in greater detail, the benefits that can be derived from applying FR analysis as a tool for financial performance (FP) measurement. It also helps in determining how the financial performance of firms can be measured through financial ratios.
Assessment of profitability and efficiency analysis of watermelon (Citrullus lanatus) value chain in Yobe State, Nigeria Olayinka, Aminu Abdulrahim; Lawan, Saadu
Annals of Management and Organization Research Vol. 4 No. 3 (2023): February
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v4i3.1671

Abstract

Purpose: An imperative step in enhancing investment returns for watermelon producers and marketers is to comprehensively analyze the watermelon value chain. This evaluation was recently conducted in Yobe State, Nigeria, during the period spanning from July to August 2023. Research methodology: The data acquisition process involved the administration of a questionnaire that facilitated the gathering of information from 540 participants across various roles within the value chain, encompassing producers, wholesalers, and retailers operating within the study's geographic scope. Results: The findings of this investigation illuminate the prevalent utilization of urban marketing channels by watermelon marketers, and it is noteworthy that approximately half of these marketers engage in their marketing endeavors within urban markets such as Kano, Kaduna, and Abuja. Notably, the study underscores the substantial impact of transportation costs on both the pricing and net marketing returns associated with watermelons. A significant proportion of these marketers were motivated primarily by the pursuit of sustainable livelihoods, while the allure of profitability drove others. However, a critical challenge encountered in the watermelon marketing domain pertains to the accessibility of credit facilities, which affects nearly 90% of the stakeholders involved in the value chain. Additionally, other constraints exerted relatively minor effects on marketers' activities and outcomes. Limitations: This study was limited to data from 460 participants involved in various stages of the watermelon value chain in the study area from July to August 2023. Contribution: This study can aid different actors in the watermelon value chain when making investment decisions.
Effect of Naira/Us Dollar exchange rate volatility on the performance of the stocks market in Nigeria Shettima, Mustapha; Abdussalam, Yusuf; Olayinka, Aminu Abdulrahim
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.v4i4.1695

Abstract

Purpose: This study investigates the influence of various macroeconomic factors, including the exchange rate, interest rate, inflation rate, and Gross Domestic Product, on the performance of the Nigerian Stock Exchange NSE 100 index. Utilizing a decade of annual data spanning from 2011 to 2021, this research employs the Augmented Dickey-Fuller test to explore the impact of these macroeconomic variables on stock market performance. Research methodology: Within this context, the time series Autoregressive Distributed Lag (ARDL) model is employed to discern the ramifications of naira/US dollar exchange rate volatility on Nigeria’s stock market performance. Results: Multiple regression analysis results indicate a significant negative effect of the exchange rate on share returns, revealing that a 10% increase in the real exchange rate correlates with a 0.15% decrease in the ASPI. Similarly, the inflation rate is associated with a negative coefficient, suggesting an adverse effect on stock prices. In contrast, interest rates and GDP exhibit positive coefficients, with 5% and 10% impacts on the ASPI, respectively. Limitation: All data used in this study were secondary. However, data from previous years were not readily available. This is the main limitation of this study. Contribution: Ultimately, this study underscores the importance of forecasting the exchange rate as a pivotal determinant of business success, offering recommendations for future endeavors.