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All Journal International Journal of Financial, Accounting, and Management Annals of Management and Organization Research Quantitative Economics and Management Studies Daengku: Journal of Humanities and Social Sciences Innovation Journal of Governance and Accountability Studies International Journal of Accounting and Management Information Systems
Nworie, Gilbert Ogechukwu
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Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mathematics Social Sciences Other

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Cloud accounting: strategic advantage for maximising Shareholder wealth in Nigeria’s pharmaceutical sector Ikwuo, Ama Kalu; Ukoha, Adaku Chinonyerem; Nworie, Gilbert Ogechukwu
Journal of Governance and Accountability Studies Vol. 5 No. 1 (2025): January
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jgas.v5i1.2529

Abstract

Purpose: This study examines the effect of cloud accounting on shareholder wealth maximization among listed pharmaceutical firms in Nigeria. Specifically, this study examined the effect of cloud accounting software usage and cloud accounting software intensity on the return on equity of listed pharmaceutical firms in Nigeria. Methods: An ex post factor research design was used in this study. A sample size of Five listed pharmaceutical firms in Nigeria were purposively sampled from a population of seven (7). Secondary data were sourced from the annual reports of firms from 2014 to 2023, covering a ten-year period. In addition to the descriptive analysis, model diagnoses such as multicollinearity, autocorrelation, heteroskedasticity, and normality tests were conducted to validate the model. Hypotheses testing was performed using estimates from robust least-squares regression at the 5% significance level. Results: The findings indicate that while cloud accounting software usage significantly improves the return on equity of listed pharmaceutical firms in Nigeria (p-value = 0.0056), cloud accounting software intensity negatively affects the return on equity of listed pharmaceutical firms in Nigeria (p = 0.0147). Limitations: This study’s limitation is based on the fact that the findings cannot be generalized to other sectors apart from the Nigerian pharmaceutical sector. Contributions: Based on the findings of the study, pharmaceutical firms in Nigeria should enhance their investment in cloud accounting software by regularly training their finance teams on the effective use of these systems to maximize the benefits of cloud accounting to improve shareholder value.
Financial stress among female entrepreneurs in Nigeria: The buffering effect of financial literacy Onochie, Christopher Chinedu; Nworie, Gilbert Ogechukwu
Journal of Governance and Accountability Studies Vol. 5 No. 1 (2025): January
Publisher : Goodwood Publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/jgas.v5i1.2617

Abstract

Purpose: As financial stress considerably hinders the success and sustainability of female entrepreneurs in Nigeria, this is exacerbated by financial illiteracy, which leaves many unable to manage their business finances effectively. In view of the above problem, this study examines how financial literacy affects financial stress among female entrepreneurs in Nigeria. Methods: This study used a descriptive survey research design. The sample consisted of 285 female entrepreneurs selected from a population of 994 female entrepreneurs in Ebonyi State. Primary data were collected using a structured questionnaire. Ordinal regression analysis was conducted to test the hypotheses. Results: The use of financial products and services significantly reduces financial stress (?1 = -0.413391; p-value = 0.0261), budgeting significantly reduces financial stress (?2 = -0.080064; p-value = 0.0364), and emergency fund creation significantly reduces financial stress (?3 = -0.226254; p-value = 0.0094). Conclusion: Financial literacy mitigates the challenges of financial stress by empowering women with the knowledge and skills required to make informed financial decisions. Limitations: The study was limited to female entrepreneurs in Ebonyi State, which may not be representative of other regions or genders. Contributions: This study is useful in the fields of entrepreneurship, finance, and gender studies, particularly for policymakers, financial educators, and organizations that support female entrepreneurs. Recommendation: The Nigerian Ministry of Commerce, Industry, and Business Development should initiate entrepreneurial financial literacy programs incorporating practical tools, such aThe s interactive workshops on budget management, digital budgeting applications, and real-life case studies, to enhance budgeting skills among female entrepreneurs.
Shareholder value diminution through long-term debts: Evidence from the Nigerian oil industry Ikwuo, Ama Kalu; Nwite, Isaiah Michael; Nworie, Gilbert Ogechukwu; Nworie, Fidelia Nkechi
Annals of Management and Organization Research Vol. 6 No. 3 (2025): February
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v6i3.2628

Abstract

Purpose: Failure to maintain an optimal balance between the benefits of long-term debts and the risks associated with financial distress often results in the erosion of shareholder value. In view of the above problem, this study examined whether long-term debts affect shareholder value diminution among listed oil and gas firms in Nigeria. Research Methodology: The ex-post facto research design was deployed on a sample of five firms purposively selected from a population of nine listed oil and gas firms in Nigeria. Secondary data were sourced from the firms’ annual reports between 2014-2023. The hypotheses were tested using panel-estimated generalised least squares. Results: An increase in long-term debt to asset ratio significantly contributes to shareholder value diminution (? = -42.56871; p-value of 0.0003); an increase in long-term debt to equity ratio significantly contributes to shareholder value diminution (? = -5.441092; p-value of 0.0005). Limitations: The study sampled only five out of nine listed Nigerian oil and gas firms and relies solely on net assets per share to measure shareholder value, which may not fully capture the industry's broader financial dynamics. Contribution:  In conclusion, the over-reliance on long-term debt financing contributes to heightened financial vulnerability as well as sabotages the aim of maximising shareholders wealth. We recommend that the management of companies in the Nigerian oil and gas industry implement stricter controls on their long-term debt-to-asset ratios by setting a threshold beyond which debt levels should not increase in order to avoid significant shareholder value erosion.
Strengthening firm sustenance through entrepreneurial innovation: Evidence from the Nigerian industrial goods sector Nworie, Gilbert Ogechukwu; Onochie, Christopher Chinedu; Nwakoby, Nkiru Peace
Annals of Management and Organization Research Vol. 6 No. 4 (2025): May
Publisher : goodwood publishing

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35912/amor.v6i4.2796

Abstract

Purpose: The dearth of innovation not only limits operational efficiency, but also exposes firms to heightened risks of obsolescence and market displacement. Thus, this study ascertains the effect of entrepreneurial innovation on the sustainability of listed industrial goods firms in Nigeria. Research Methodology: A sample size of eight out of 13 listed industrial goods firms was selected. Using the ex-post facto research strategy, secondary data were extracted from firms’ annual reports over a ten-year period (2014-2023). Analyses were performed using descriptive test, linearity test, heteroskedasticity test, autocorrelation test, and ordinary least square regression. Results: It was found that entrepreneurial innovation practice significantly enhances firm sustenance (proxy by operating cash flow ratio) among listed Nigerian industrial goods firms (b = 0.352574; p-value = 0.004759). Conclusions: By fostering a culture of innovation, investing in research and development, and leveraging modern technologies, firms can position themselves for long-term success despite prevailing economic challenges. Limitations: One limitation of this study is the small sample size, as only eight of the 13 listed industrial goods firms in Nigeria were included. Contribution:  This study contributes to the literature by addressing the gap in the existing literature on entrepreneurial innovation in industrial goods firms, particularly publicly listed firms in Nigeria, an area largely overlooked in prior research on SMEs and niche industries. Recommendation: This study recommends that company executives establish dedicated innovation departments or strengthen existing ones to drive continuous improvement in the firm.
The Triad of Paying Creditors, Collecting Debts, and Moving Inventory as Engines of Entrepreneurial Success in Nigerian Oil and Gas Firms Nworie, Gilbert Ogechukwu; Olorunfemi, Ogunmodede; Chukwu, Uche
Daengku: Journal of Humanities and Social Sciences Innovation Vol. 5 No. 6 (2025)
Publisher : PT Mattawang Mediatama Solution

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35877/454RI.daengku4532

Abstract

Many Nigerian oil and gas firms struggle with managing creditors, debtors, and inventory efficiently. These challenges limit cash flow, reduce profitability, and constrain growth. As a result, entrepreneurial success in these firms is often hindered by poor operational liquidity management. Hence, this study examined the effect of paying creditors, collecting debts, and managing inventory on entrepreneurial success (proxy by return on sales) in Nigerian oil and gas firms. An ex-post facto research design was adopted, covering the period from 2012 to 2024. The population consisted of eight listed oil and gas firms, with six selected for the study through purposive sampling. Secondary data were collected from the annual reports of the selected firms, and hypotheses were tested using a fixed effects panel regression model with Cross-section seemingly unrelated regression (SUR) standard errors to correct for heteroskedasticity. The findings revealed that: Days Inventory Outstanding has a negative and significant effect on entrepreneurial success (? = -0.616, p = 0.0213); Days Receivable Outstanding has a positive and significant effect on entrepreneurial success (? = 0.005534, p = 0.0000); Days Payable Outstanding has a negative but insignificant effect on entrepreneurial success (? = -0.002935, p = 0.8554). In conclusion, efficient inventory control is essential because holding excessive stock ties up capital that could support productive activities, while effective management of receivables enhances profitability by maintaining balanced credit policies and ensuring timely collections to improve cash flow and sustain operations. The study recommended that operations managers in Nigerian oil and gas firms should reduce the time inventory is held by implementing efficient inventory management systems, optimizing stock levels, and improving turnover to enhance profitability.
Co-Authors Chukwu, Uche Efenyumi, Peter-Mario Efesiri Ikwuo, Ama Kalu Moedu, Vitalis O. Muojekwu, Hilary Onyebuchi Nwafor, Veronica Ogbenyeanu Nwakoby, Nkiru Peace Nwite, Isaiah Michael Nworie, Fidelia Nkechi Nworie, Fidelia Nkechinyere Ochuka, Chekwube Esther Ofulue, Igbodo Oguejiofor, Benita Chikwadom Okafor, Tochukwu Gloria Okike, Juliet Ogbonneya Olorunfemi, Ogunmodede Onochie, Christopher Chinedu Ukoha, Adaku Chinonyerem