Accounting, Banking and Finance Articles
 /  Accounting, Banking and Finance Articles
  1. AN EVALUATION OF THE IMPLICATIONS OF EARNINGS EARNING MANAGEMENT DETERMINANTS IN THE BANKING INDUSTRY: THE CASE OF NIGERIA

    DABOR, Eyesan Leslie and IBADIN, Peter Okoeguale

    ABSTRACT The objective of this paper was to ascertain the determinants of earnings management and to evaluate their implications. The study covered a period of 2005-2010. There were a total of twenty-three twenty three banks quoted on the stock exchange within the period. The study selected a sample of all eighteen of these banks quoted on the stock exchange as at 2010.

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  2. AUDIT FIRM TENURE AND QUALITY OF FINANCIAL REPORTING IN NIGERIA COMPANIES

    Ogbebor Roland Osamudiame , Prof. E. O. Nwadialor , EVBOTA, Cephas Imuentinyan

    ABSTRACT This study examines audit firm tenure and quality of financial reporting in Nigeria. The specific objectives of this study were to determine the relationship between audit tenure, auditor independence, audit firm size and quality of financial reporting. To achieve this objective, secondary data were sourced from a sample of eighty (80) quoted companies for a period of seven (7) years (2011 – 2016). The data were estimated using the Ordinary Least Square (OLS) regression technique with the aid of E-Views 8.0 software. At the end of the analysis, the empirical findings revealed among other things that there is a significant relationship between auditor independence and quality of financial reporting. The study also reveals that there is no significant relationship between audit firm size, audit tenure and quality of financial reporting. The study recommends, among others that the corporate organization in Nigeria should pay proper attention to auditor independence as it’s a major determinant of quality of financial reporting among quoted companies in Nigeria.

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  3. Audit Quality and Cash – Based Earnings Management of Quoted Companies in Nigeria

    Prof. Famous Izedonmi et. al.

    Abstract This study examines the impact and relationship between audit quality and cash - based earnings management of companies in Nigeria. Using archival data based on a sample of 342 companies – year observations from the NSE and applying some commonly applied audit quality measures for purpose of robustness, a massive and all-inclusive multivariate analyses was conducted.

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  4. Audit quality and Earnings Management in Quoted Nigerian Banks

    Eyesan Leslie DABOR and Sylvester ERIABIE

    Abstract The objective of the study is to find out the impact of audit quality on earnings management. The study used a sample of all eighteen banks quoted on the stock exchange as at December, 2010. Data was gathered for the period 2005 to 2010. The cross-sectional year by year regression analysis was performed.

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  5. Auditors Influence on Environmental, Social and Governance Style in Nigeria

    Offor, T.N. PhD, Evbota Cephas.I. B.Sc; M.Sc, Osemwegie O. Joy

    ABSTRACT This paper examines the review of how auditors influence the environmental, social and governance style of companies in Nigeria. The method employed was totally exploratory; it is a library research which entails a review of both conceptual and empirical literature which forms the basis for drawing up conclusion by the researchers. Following literature, we observed the , it was found out that important to a company’s strategy and daily operations, increasingly regarded by investors as relevant to its ability to realize long-term value. Therefore, transparency around how a company manages ESG risks and opportunities is part of its value proposition and auditors play a role here.

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  6. BOARD REPUTATION, ACADEMIC EXPERTISE, POLITICAL AFFILIATION AND FINANCIAL REPORTING QUALITY

    Eyesan Leslie Dabor and Alexander Olawumi Dabor

    Abstract This study critically examined the impact of board reputation, academic expertise, political and affiliation on financial reporting quality. A sample of ten banks was selected employing simple judgmental sampling technique. Ordinary least square multivariate regression was employed to analyse the data collected.

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  7. CAPITAL BUDGETING PRACTICES IN QUOTED BANKS IN NIGERIA

    EYESAN LESLIE DABOR & KENNEDY PRINCE MODUGU

    ABSTRACT The aim of the paper is provide evidence about the determinants of capital budgeting in Nigeria banks. A sample of Nigerian quoted banks was observed for the year 2012. The study utilized the regression analysis method. The study found a significant positive relationship between fixed asset acquired, and profitability, bank performance and leverage.

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  8. Challenges of Auditors and Audit Reporting in a Corrupt Environment

    Professor Famous Izedonmi et. al.

    ABSTRACT The rising spate of corruption in both private and public establishments has assumed an enormous dimension. This development has eroded public trust in financial statements. Auditors in their duty to expressing professional opinion on the truth and fairness of financials are ostensibly bedeviled with quantum of challenges which could result in the issuance of a clean bill of health to corruption-riddled establishments.

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  9. CHIEF EXECUTIVE OFFICER DUALITY AND FINANCIAL PERFORMANCE OF FIRMS IN NIGERIA

    Prof. Famous Izedonmi et. al.

    ABSTRACT The work is centred on CEO Duality and Financial Performance of Firms in Nigeria. The objective of the study is to find out the relationship between CEO Duality and the Financial Performance of Firm. We adopted the use of secondary data from the Nigerian Stock Exchange Fact book drawn from various industries during the period 2001 – 2010 and the regression analysis with its Best Linear Unbiased Estimate (BLUES) was employed to test our hypothesis.

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  10. CORPORATE GOVERNANCE AND ACCOUNTING QUALITY: EMPIRICAL INVESTIGATIONS FROM NIGERIA

    Eyesan Leslie DABOR and Peter Okoeguale Ibadin (PhD.)

    Abstract Quality decision making is based on the quality of information available to investors and other stakeholders. Financial reports published by companies serve as the major means of financial information. The quality of these reports determines the types of decisions investors make. Various and alternate corporate governance variables have been evaluated in the literature.

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  11. Corporate Governance and Corporate Social Responsibility

    MR. OHONBA OSAMWONYI ERNEST , Dr. OLOWOYO BANJI JACOB, EVBOTA, Cephas Imuentinyan

    INTRODUCTION Organizations fundamentally exist to make profit. The profit intention has regularly been seen as representing lack of cause to worry for every other goals of an organization. However, today organizations are understanding that with a specific end goal to remain productive in a quickly evolving condition, they would need to wind up socially capable. Thusly, the conviction that beyond making benefit for the investors, corporate enterprise ought to likewise serve the interests of every single other partner (stakeholders) has finished into the idea of corporate social responsibility (Ananaba and Chukwuka, 2016).

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  12. Corporate Governance and the Credibility of Financial Statements in Nigeria

    Eyesan Leslie Dabor and Semiu Babatunde Adeyemi

    Abstract Optimal decision-making is based on the quality of information available to the decision maker. Financial statements published by companies are the major sources of financial information available to investors and other stakeholders of the company. The credibility of these financial statements has very salient implications for the quality of decisions that investors can make.

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  13. CREATIVE ACCOUNTING PRACTICES AND INTERNATIONAL FINANCIAL REPORTING STANDARDS ADOPTION IN NIGERIA: Listed Non-Financial Services Companies in Perspective.

    OKOUGHENU, Sunday Azeita , EVBOTA, Cephas Imuentinyan, AMUGHORO, Onome Austin

    ABSTRACT The study examined the relationship between creative accounting practices and international financial reporting standards adoption in Nigerian listed non-financial services companies for the year 2012-2017. The study adopted a quantitave research design. The strategy involved a panel regression and data were retrieved from the annual reports and accounts of the studied companies. Rregression was used to analysed the data and it was revealed by fixed effect regression model that IFRSs adoption had a positive and significant relationship with creative accounting practices in Nigerian listed non-financial companies at 1% level of significance.The study concluded that the adoption of IFRSs in Nigerian listed non-financial services companies cannot minimse creative accounting practices, but otherwise, it increased the practices due to the flexibility nature of the standards. Hence, the study recommended that companies should practice good corporate governance process to minimise creative accounting practices in Nigeria.

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  14. CURSORY STUDY OF ACCOUNTING STANDARDS IN NIGERIA, UNITED KINGDOM AND UNITED STATES OF AMERICA

    Dr. J.K.J ONUORA, OSEMWEGIE OKHOMINA JOY, EVBOTA, Cephas Imuentinyan

    ABSTRACT The globalization of the world’s economy and markets have led companies and nations to become world global players. In addition, more investments take place on a global level in comparison to the not too distant past. Before the adoption of the International Financial Reporting Standards (IFRS), different countries developed their own national accounting standards or adopted that of other countries. However, movement of business towards a global economy brought challenges in comparability, objectivity, reliability, understandability amongst other numerous challenges. These accelerated the need to move toward a unified global accounting standards. Thus these challenges spelt the need for a single set of high quality and globally accepted accounting standards which could be acceptable to all countries and accounting bodies worldwide. This study therefore takes a cursory glance at accounting standards as it relates to Nigeria, United Kingdom and United States of America. Standards in Accounting are essential and of utmost importance and as such should not be ignored or neglected in the accounting profession or other related businesses professions. This paper looks at the meaning and reasons for standards, adoption of international financial reporting standards (IFRS) and a cursory comparative analysis of standards in the three countries.

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  15. DETERMINANTS OF CORPORATE SOCIAL AND ENVIRONMENTAL DISCLOSURE OF NIGERIA OIL AND GAS COMPANIES

    Evbota Cephas.I. B.Sc; M.Sc, Ukori C.A., Dr. Paschal Ohalehi

    ABSTRACT The paper examined the various determinants of corporate social and environmental disclosures in the oil and gas sector. The broad objective of the study was to examine the social and environmental disclosure of oil and gas companies in Nigeria and also to investigate the impact of firm size, profitability, financial leverage, firm age and audit firm size on social and environmental disclosure of oil and gas companies in Nigeria. A cross sectional survey research design was utilized by the study. With respect to sample selection, a total of 10 oil and gas companies were selected out of the 17 oil and gas companies quoted on the floor of the Nigerian stock exchange for the period of 4 years ranging from 2011 to 2014. From the result of the descriptive statistics it was observed that corporate social and environmental disclosure stood at a mean value of 0.522 therefore indicating that the degree of social and environmental disclosure of the sampled companies stood at 52%.

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  16. DETERMINANTS OF PERSONAL INCOME TAX COMPLIANCE: PERCEPTION OF NIGERIAN TAXPAYERS

    Prof. Famous Izedonmi et. al.

    ABSTRACT This study examines the Determinants of Personal Income Tax Compliance. The study anchors on the fiscal exchange theory and social & psychological theory to predict the determinants of personal income tax compliance. The survey research design was adopted and questionnaire was distributed to elicit responses from self-employed persons.

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  17. EARLY RELEASES AND VALUE RELEVANCE OF ACCOUNTING INFORMATION: EMPIRICAL EVIDENCE FROM NIGERIA

    Josiah Mary (Ph.D), Adetula Samuel Lanrewaju, Bosun-fakunle Yemisi Funmilayo

    ABSTRACT The focus of this study is to examine the value relevance of accounting information in Nigeria. The survey research design is adopted for this study. The simple random sampling technique is used to select a sample of sixty companies covering the period 2006-2012. Secondary data, sourced from annual reports of the selected companies, was employed in the study. For the purpose of this study, we winsorize the data to help screen the population and ensure only timely financial statements are considered. The Ordinary Least Squares Regression was utilized for the analysis. The analysis is conducted on a year-to-year basis. As a general rule, the practice in extant literature in evaluating the value relevance of accounting information is to examine the coefficient (R2) of determination of the model.

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  18. ENTREPRENEURSHIP AND ECONOMIC DEVELOPMENT OF NIGERIA

    Adediran Samson A., Bosun-fakunle Yemisi Funmilayo, Olopade David

    ABSTRACT This study examines the impact of entrepreneurship on the economic development of Nigeria. The main objective of the study is to emphatically evaluate the relationship between entrepreneurship and productivity and employment generation in Nigeria. Data for the study were generated through questionnaires (primary sources) which were administered to two hundred and fifty respondents randomly selected from Federal Ministry of labour and production and some ownership of small scale businesses in Edo State.

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  19. Ethical Practices of the Professional Accountant in Nigeria

    Prof. Famous I.O. Izedonmi, Bukola A. Akadakpo (Mrs)

    Abstract There exists a gap between what is documented in form of ethical codes and what some professional accountants really practice. The main focus of this research is to examine the extent of ethical values reflected in professional practice of accountancy profession in Nigeria. Primary data were collected by means of questionnaire and the secondary data were sourced from professional journals of various accountancy bodies.

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  20. Evaluation of Professional Accountancy Education and Training in Nigeria

    Prof. Famous Izedonmi and Dr. Augustine Oke Okolie

    Abstract This paper critically appraises the adequacy of the level and substance of the education and training that are required to prepare and equip the professional accountants to deal with the changing demands of the dynamic business environment in Nigeria. The methodology involved the use of library research and a review of available documentary evidences on the subject matter.

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  21. Factors Affecting Audit Quality in Nigeria

    Eyesan Leslie DABOR et. al.

    Abstract This research was carried out in order to investigate the factors affecting audit quality in Nigeria. The primary data were supplied by 430 respondents across several stakeholders in the fields of financial reporting and auditing. The secondary data were generated from the financial statements of forty annual reports of companies quoted on the Nigerian Stock Exchange. The test of hypotheses and other analysis of data were done using SPSS, version 17.

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  22. FINANCIAL ACCOUNTING BASED RATIOS AND STOCK MARKET RETURNS OF SOME SELECTED NIGERIAN DEPOSIT MONEY BANKS

    Dr. J.K.J ONUORA, EVBOTA CEPHAS IMUENTINYAN, OSEMWEGIE OKHOMINA JOY

    ABSTRACT The study examines the impact of financial accounting based ratios on stock market returns of some selected deposit money banks quoted in the Nigerian bourse. The finance based ratios include earnings per share ratio (EPS), Price earnings ratio (PE) and Market to Book Value ratio (MBV). The control variables adopted to make the analysis more robust is Book Value ratio. The study adopted daily stock market returns data for a time frame that ranges from financial year ended 2008 to 2013; and, applied multiple regression methodology, which enables easy analysis of the impact of a set of independent variables on a selected dependent variable. The results showed that earnings per share (EPS) ratio has an insignificant impact on market returns performance of the deposit money banks.

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  23. FIRM ATTRIBUTE AND FINANCIAL REPORTING QUALITY: AN EMPIRICAL ANALYSIS

    Josiah Mary, Prince Famous Izedonmi, Bosun-fakunle Yemisi Funmilayo

    ABSTRACT This study examined the firm attributes and financial reporting quality in Nigeria stock exchange using sample of 30 quoted companies, for 2011. The data were analyzed and result estimated using ordinary least squares (OLS) regression. The result showed that there Is no relationship between profitability and financial reporting quality and that there is no significant relationship exist between chief executive officer duality and financial reporting quality.

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  24. Forensic Accounting and Financial Crimes: Adopting the Inference, Relevance and Logic Solution Approach

    Prof. Famous Izedonmi (FCA), Peter Okoeguale Ibadin (MBA, M.Sc. ACA.)

    Abstract This study examines some basic and common financial crimes in corporate organizations, situating the focus on Nigeria, and by extension, the developing world. No doubt, financial crimes have affected individuals and corporate organizations negatively. Some instances of corporate scandals, occasioned by financial crimes, have put accounting professional bodies into a new perception and paradigm that go beyond statutory audit.

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  25. Government Accountability and Voluntary Tax Compliance in Nigeria

    Professor Famous Izedonmi, Prince Kennedy Modugu and Emmanuel Eragbhe

    ABSTRACT This study examines the nexus between government accountability and voluntary tax compliance based on the theoretical framework that there exist a relational fiscal/social contract between the state and the citizens. Specifically, the hypothesis that voluntary tax compliance is influenced by the individuals’ perception of government accountability was specified and tested.

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  26. GOVERNMENT POLICY ON PRIVATIZATION OF POWER IN NIGERIA: END-USERS FINANCIAL COST PERSPECTIVE

    Edward Ogbonnia Eleje, Peter C. Anienwelu, Bosun-fakunle Yemisi Funmilayo

    ABSTRACT Since the privatization of the power sector in Nigeria in 1999, the cost impact to end-users have not received adequate empirical evaluation. Using data from consumers of privatized electricity power in Enugu State, this paper sought to evaluate the significant effect of privatization on end-users of electricity product. The survey research method was employed with two major hypotheses formulated to govern the study. Respondents were selected using random sampling technique and generated data was tested with Z-test statistic.

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  27. IMPACT OF TAX AUDIT ON FEDERAL GOVERNMENT REVENUE GENERATION IN NIGERIA

    Dr. A. S. Anichebe, Evbota Cephas.I. B.Sc; M.Sc, Osemwegie O. Joy

    ABSTRACT This paper focused on the impact of tax audit and investigation on federal government revenue generation in Nigeria. To achieve this, data were gathered from primary source and in analysing the data gathered the One Sample T-test statistical method was used. The study finds that there is a significant relationship between tax audit and federal government revenue generation. The paper recommends that tax audit should be carried out effectively in order to guarantee federal government revenue generation.

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  28. Implications of Treasury Single Account on Financial Flows in Public Institutions in Nigeria

    ELEJE, Edward Ogbonnia (Ph.D), ADEBAYO, Gbenga Ayodele, Bosun-fakunle Yemisi Funmilayo

    ABSTRACT Paper investigates Treasury Single Account (TSA) implications on financial flows in public institutions in Nigeria.Using data from four (4) federal universities in the north-east and north-central geopolitical zones of the country namely; Federal University of Technology, Yola; Federal University, Wukari, Federal University of Agriculture, Markurdi, and Federal University, Lafia, the paper sought to empirically evaluate the significant effect of TSA on financial disbursements as well as financial leakages. Two major hypotheses were formulated to govern the study.

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  29. INTERNAL CONTROL SYSTEM AND FINANCIAL REPORTING QUALITY

    Offor, T.N. PhD, Evbota Cephas.I. B.Sc; M.Sc, Osemwegie O. Joy

    ABSTRACT The study examines the impact of internal control system on financial reporting quality in Nigeria based on a sample of 10 companies’ annual reports for the years 2010-2013. The data were analysed and result estimated using ordinary least square regression which was complemented with the panel data estimation technique. The findings revealed that there is a positive relationship between internal control, accrual, cash from operating activities and financial reporting quality in Nigeria. It was also observed that there is a negative relationship between firm size and financial reporting quality.

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  30. Investors Reliance on Profit Forecast Disclosed in Prospectus: An Empirical Evaluation

    Bosun-fakunle Yemisi Funmilayo, YEMISI F. AND ADEBAYO, GBENGA A.

    ABSTRACT Accounting information plays a central role because of the fact that there is information asymmetry between company management and investors. Investing in a company depends on the level of confidence the investor has in the company which is determined by the performance of the firm in terms on its profitability and dividend. The prospectus contains the profit forecast which is an estimate of financial results made in advance of completion of financial statement. Thus, the main objective of this research is to empirically examine the reliability of profit forecast disclosed in prospectus issues. The study also attempted to determine the relationship between stock and the earnings forecast. Four hypotheses were stated and tested.

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  31. Mandatory Audit Rotation and Audit Independence: Survey of Southern Nigeria

    Prof. Famous Izedonmi, John Chika Onwuchekwa and Dominic Erah Abstract The quest for mandatory audit rotation has been a concern to academics, investors, practitioners and the public at large. This study is designed to determine the relationship between mandatory audit rotation and audit independence in Southern Nigeria. The data used were collected through the distribution of questionnaires to investors, lecturers, consultants, accountants and auditors in Southern Nigeria.

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  32. Nigerian Commercial Banks and Creative Accounting Practices

    Prof. Famous Izedonmi and Beshiru Sanusi

    ABSTRACT: This study is an empirical investigation on the opinions of experienced staff of commercial banks on creative accounting practices in Nigerian commercial banks. To achieve the objective of this study research questions were raised, hypotheses formulated, and a review of related literature was made. The population of this study is the staff of commercial banks currently operating in Nigeria. Quota sampling technique was adopted for this study.

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  33. Public Perception and Attitude towards Value Added Tax (VAT) in Nigeria

    Adesina Olugoke Oladipupo, Famous Prince Izedonmi

    ABSTRACT This study assesses the level of tax education, particularly the level of understanding of VAT law amongst three categories of taxpayers in Nigeria. The data for the study were collected by means of structured questionnaires administered to the respondents. The analysis of results showed that most of the respondents have poor knowledge of VAT law in Nigeria, irrespective of their level of literacy, and that there was no significant difference in the amount of knowledge of VAT law amongst the three groups of respondents used for the study.

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  34. SHARE PRICES, INSIDER DEALINGS AND CREATIVE ACCOUNTING PRACTICES: The Nigerian Listed Non-Financial Services Companies in Perspective.

    OKOUGHENU, Sunday Azeita , EVBOTA, Cephas Imuentinyan, AMUGHORO, Onome Austin

    ABSTRACT The study investigated the relationship between share prices, insider dealings and creative accounting practices in Nigerian listed non-financial services companies for the year 2008-2016. The study adopted a quantitave research design. The strategy involved a panel regression and data were retrieved from the annual reports and accounts of the studied companies. Rregression was used to analysed the data and it was revealed by random effect regression model that share prices had a positive and significant relationship with creative accounting practices in Nigerian listed non-financial companies at 5% level of significance. In addition, the study found that insider dealings had a significant and negative relationship with creative accounting practices in Nigerian listed non-financial services companies. The study concluded that the reason for the significant relationship beween the share prices, insider dealings with creative accounting practices could be because they had a direct benefit to either the management or the company itself. Hence, the study recommended that; investors need to consider a change in earnings when making investment decisions in order to maximise their returns and good corporate governance practice should be encouraged.

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  35. TAX AUDIT AND INVESTIGATION AND TAX COMPLIANCE: PERCEPTION OF TAX PAYERS IN BENIN CITY

    Dr. A. S. Anichebe, Evbota Cephas.I. B.Sc; M.Sc, Osemwegie O. Joy

    ABSTRACT This study was carried out with the aim to examine tax audit and investigation and tax compliance – perception of tax payers in Benin City. The instrument used for the purpose of this research was primary source. The researcher administered a total of one hundred (100) questionnaires to respondents, out of which ninety-seven (97) was retrieved and was used for the presentation and analyses. The hypotheses were tested using Ordinary Least Square (OLS) regression technique.

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  36. THE ASSOCIATION BETWEEN SELECTED CORPORATE GOVERNANCE ATTRIBUTES, COMPANY ATTRIBUTES AND TIMELINESS OF FINANCIAL REPORTING IN NIGERIA

    Izilin Mavis Ibadin, Famous Izedonmi and Peter Okoeguale Ibadin

    ABSTRACT This study has been carried out to empirically examine the relationship between corporate governance variables, corporate attributes variables and timeliness in a developing country, Nigeria. Using a sample of 118 listed companies on the Nigerian Stock Exchange (NSE), the study depended on the use of descriptive statistics and the Ordinary Least Square (OLS) regression analysis. From the study, there appears to be evidence of an unusually long time lag made by Nigerian listed companies included in this study.

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  37. THE COST-VOLUME-PROFIT MODEL: A DISCUSS

    Dr. Eyesan Leslie DABOR, Ph.D et. al.

    Abstract A good understanding of cost and revenue behavior is critical to providing decision makers with an understanding of the relationship between a project’s revenues, costs, and profits. Cost Volume Profit analysis emphasizes the interrelationships of costs, quantity sold, and price as well as brings together all of the financial information of the firm.

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  38. The Effect Of Entrepreneurship Education On Students’ Entrepreneurial Intentions

    Prof. Prince Famous Izedonmi, Chinonye Okafor

    Purpose The main aim of this paper is to examine the effect of entrepreneurial education on students’ entrepreneurial intentions. Also the study sought to determine whether such intention usually give rise to entrepreneurial start-up among students.Design/methodology /approach-Primary data comes from 250 students who currently have entrepreneurship as one of their courses in their institution of higher leaning within the south west of the country.

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  39. TIMELINESS OF FINANCIAL REPORT AND CORPORATE ATTRIBUTES IN NIGERIA

    Ogbebor Roland Osamudiame, Prof. E. O. Nwadialor, Evbota Cephas Imuentinyan

    Abstract The broad objective of this study is to find out if corporate attributes affect timeliness of financial reports in Nigerian quoted companies. Timeliness is operationalised as the number of days from the firm’s financial year-end to the publication of financial reports. It also investigates the compliance with the 90 – day period for the publication of financial reports. To achieve this end, this project utilizes a sample of 79 observations, comprising twenty one (21) firms in 2011 and 2012, twenty five (25) in 2013 and twelve (12) firms in 2014 using their annual reports. A number of variables were examined and investigated, using the Ordinary Lest Square (OLS) regression to find the relationship between timeliness and the variables; profitability, audit delay, firm size, debt-equity and audit firm size based on the model adapted from Iyoha (2012).

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  40. VALUE RELEVANCE OF ACCOUNTING INFORMATION TO QUOTED NIGERIAN FIRMS

    EVBOTA, Cephas Imuentinyan, Dr. OLOWOYO BANJI JACOB, MR. OHONBA OSAMWONYI ERNEST

    ABSTRACT This paper investigates the value relevance of accounting information to quoted Nigerian firms with the intent of ascertaining if there exist a relationship between publicly available accounting information and share price movements in the Nigerian capital market using Ordinary Least Square (OLS) regression technique. The regression results from our specified model reveals that Earnings Per Share reported in the income and financial statement is the only value relevant financial accounting information and investors mainly depend on stock brokers and non-financial information (fads, rumours and herd mentality) in executing their investment and divestment activities. Therefore, this study recommends that financial reporters should improve the quality of earnings and that stock brokerage firms should adequately train their staff since they are the main source of information to the investors. This recommendation is aimed at ensuring the growth and survival of the Nigerian bourse both in the immediate and long term.

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