Department of Accounting

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Author: search.filters.author.Adetula, Dorcas

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    “Corporate dynamism and cash holding decision in listed manufacturing firms in Nigeria”
    (Problems and Perspectives in Management, Volume 17, 2019) Ozord, Emmanuel; Adetula, Dorcas; Elueya, Damilola Felix; Eluyela, Damilola Felix; Aina, Adenike; Ogabi, Mautin Arinola
    Cash holding decision is a very crucial decision that strongly affects the performance of an organization. Corporate dynamism as a corporate governance tool was explored in this study in order to establish its relationship with cash holding decision in listed manufacturing companies in Nigeria. Board skill, female leadership, foreign directors, board ownership and directors’ compensation were used as proxies for corporate dyna mism. A panel regression model was adopted in this study to examine the implication of corporate dynamism on cash holding decisions spanning six years from 2012 to 2017. Random sampling technique was employed in order to arrive at thirty firms out of thirty-seven listed manufacturing firms, which comprised industrial and consumer goods sector. Board ownership and the existence of foreign expatriates were found to have a significant effect on cash holding decisions. It is concluded that directors with significant holdings tend to be more aggressive towards activities that enhance the performance of a firm, one of which is ensuring that optimal level of cash is held at a particular point in time in order to guide against liquidity problems, which may be caused by overtrading or even keeping excess idle cash, which is supposed to be invested in profitable ventures. Also, the fact that the existence of foreign expatriates will affect cash holding decisions, which may be justified by the fact foreign expatriates are displaying expertise because of diverse experience that they have been able to gain from different parts of the world.
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    MODERATING EFFECT OF GOVERNANCE QUALITY ON THE RELATIONSHIP BETWEEN CFOs’ NARCISSISM AND CORPORATE EARNINGS MANAGEMENT IN NIGERIA
    (Journal of Management Information and Decision Sciences, 2020) Taleatu, Taofiki Akinwumi; Adetula, Dorcas; Iyoha, Francis Odianonsen
    Upper echelons in an organization such as chief financial officers (CFOs) have been implicated in corporate fraudulent earnings management. Their narcissistic traits have also been linked with unethical accounting practices while little is known on the moderating effect of corporate governance quality on this relationship. Hence, this study investigated the moderating effect of corporate governance quality on the relationship between CFOs' narcissistic trait and earnings management in troubled, non-listed companies in Nigeria. The primary data for the study was obtained from the survey of 80 non-listed companies indebted to the Asset Management Corporation of Nigeria (AMCON). The survey involved the distribution of copies of a structured questionnaire to two hundred and forty (240) CFOs and other financial officers in the sampled companies. Two hundred and four (204) copies of the questionnaire, which represents a response rate of 85%, were found suitable for data analysis. Descriptive statistics involves the computation of means and standard deviations. Moderated regression analysis was employed to test the hypothesis of the study. Our findings revealed high CFOs' narcissism (Mean = 3.6961, SD = 1.03428, Min = 1, Max = 5), upward earnings management (Mean = 3.8137, SD = 1.00472, Min = 1, Max = 5) and moderate corporate governance quality (Mean = 3.2353, SD = 1.25299, Min = 1, Max = 5). The study also revealed a significant positive relationship between earnings management and CFOs' narcissistic trait (beta = 0.636, t-value = 21.628, P<.05, Sig. = 0.000). A significant negative relationship was observed between corporate governance quality and earnings management (beta = -.360, t value = -12.251, P<0.05, Sig. = 0.000). However, further finding revealed that corporate governance quality has a significant moderating effect on the relationship between CFOs' narcissistic trait and corporate earnings management (beta = 0.145, t-value = 9.582, P<0.05, Sig. = 0.000). The policy implications of these outcomes include the need to strengthen corporate governance quality in non-listed companies in Nigeria. Consequently, the study recommends sensitization of the stakeholders of non-listed companies in Nigeria on the implementation of the Nigerian Code of Corporate Governance 2018 to reduce unethical accounting practices and promote corporate financial reporting quality in the country.
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    Agricultural Revamping via Major Capital Outlay the Antidote to Food Insecurity Challenges in Nigeria
    (Academy of Entrepreneurship Journal, 2020) Omodero, Cordelia Onyinyechi; Adetula, Dorcas; Iyoha, Francis Odianonsen
    Food insecurity in Nigeria has necessitated this study which emphasizes agricultural revamping as the antidote to the prevailing circumstance of food crisis in the country. This study draws the attention of the present administration to the urgent need for significant capital investment in agriculture as a means to proffer a permanent solution to food insecurity in Nigeria. This study employs literature review approach and discovers that the factors impeding food safety in Nigeria include farmers' lack of access to the credit facility, insufficient farmlands, security threat on farmers and farmers’ lack of education. However, relevant econometric techniques and statistical tools are specifically applied to examine the impact of government expenditure and agricultural output on food safety using a secondary source of data spanning from 2008 -2019. From the findings of this study, agricultural output has a considerable influence on food safety, but government expenditure on agriculture is yet to gain momentum in affecting adequate food production in the country. Thus, this study concludes that there is an urgent need for the government to invest significantly in agriculture which serves as an antidote to food security challenges in Nigeria.
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    Incidence of Unclaimed Dividends: A Panel Data Analysis of the Role of Quoted Companies in Nigeria
    (WSEAS TRANSACTIONS on BUSINESS and ECONOMICS, 2023) Eriki, Emoarehi; Iyoha, Francis Odianonsen; Adetula, Dorcas
    - The objective of this paper is to examine the incidence of unclaimed dividends and the role of quoted companies in Nigeria. The rising trend of unclaimed dividends has been a serious concern to government, stakeholders, and supervisory authorities like the Securities and Exchange Commission, (SEC), and Nigerian Stock Exchange (NSE). There has been some policies put in place to reduce unclaimed dividends over the years. Some of the policies and measures include Companies and Allied Matters Act (CAMA), Investment and Securities Act (ISA), Central Securities and Clearing System (CSCS), Bank Verification Number (BVN), and e-dividend payment system respectively. Despite, these measures, unclaimed dividend figures have risen from 30 billion Naira in 1996 to 130 billion Naira in 2017. Studies done to address unclaimed dividends attributed various factors, some of which are: investors not giving their correct addresses, non-delivery of dividend warrants to investors, and Registrar not doing their work. However, one area that has not been addressed is the role of quoted companies in the rising trend of unclaimed dividends in Nigeria. Some large quoted companies have set up registrars but are really departments, with no separate boards from the mother firm. In Nigeria, registrars are statutorily charged with the processing of dividends from the time a quoted firm declared dividends and when the dividends fund is finally transferred to the registrars in Nigeria. But an emerging trend that has not been addressed is that quoted companies are now warehousing unclaimed dividends as reported by the reports of Securities and Exchange Commission (SEC). In other words, the dividends that have been declared and paid are still held and managed by the same quoted companies that paid the dividend. It is this trend that has prompted SEC to make proposal to the National Assembly for the review of CAMA law, to prevent quoted companies from exploiting the law. The quoted firms hitherto took advantage of the loop hole in CAMA to manage their already declared and paid dividends, months after payment through their owned established registrars. Though, about six shareholders associations have rejected the intervention of SEC in unclaimed dividend issues. But one of the principal functions of the SEC is to ensure is investor’s protection. It is against this background that the study investigate the quoted companies as a contributory factor in the rising trend of unclaimed dividends in Nigeria. The study used panel data analysis to run the quarterly data of unclaimed dividends amount with the quoted companies, the unclaimed dividend amounts with the registrars responsible for managing dividends, and the aggregate unclaimed dividends amount from 2012 to 2019. The study found that there was no difference between the role of quoted companies and the registrars in terms of managing unclaimed dividends in Nigeria. The study recommends a review of government policy that will continuously audit and sanction quoted companies that manage the unclaimed dividends through their subsidiaries or registrars and use it as working capital.
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    Effect of upper echelons’ demographic characteristics on earnings management in troubled non-listed companies in Nigeria
    (Cogent Arts & Humanities, 2020) Taleatu, Taofiki Akinwumi; Adetula, Dorcas; Iyoha, Francis Odianonsen
    Research has shown that companies in a financial crisis are usually successful in hiding their poor performance through aggressive earnings manage ment at the detriment of stakeholders like investors and loan providers. The wave of current bank loan defaulters rocking the Nigerian banking system afforded a unique opportunity to study earnings management in troubled, non-listed companies in Nigeria to contribute to the attainment of the sustainability goal 9 on industriali zation in developing countries. This study aimed at investigating the influence of top management’s demographic characteristics on corporate earnings management. Using Slovin’s 1960 sampling size formula, 80 non-listed companies were selected for the study from the list of 98 non-listed companies among the debtors of Assets Management Corporation of Nigeria (AMCON). Copies of a questionnaire were administered on 240 financial officers (3 participants per company). Descriptive statistics involved computation of percentages, means and standard deviations while hypotheses were tested with structural equation modelling using AMOS SPSS. Findings revealed a relatively high level of earnings management with significant positive relationships with age, tenure, educational level and gender of the CFOs. Lower earnings management was observed among middle-aged, female, more educated and short-tenure CFOs. The study concludes that there is a positive sig nificant relationship between upper echelons’ demographic characteristics and earnings management in troubled, non-listed companies in Nigeria. The study recommends the appointment of more middle-aged, female and financially literate individuals into the upper echelons’ positions with a moderate tenure of five to ten years to promote corporate sustainable development in Nigeria.
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    Effect of E-Dividend Payment System and Management of Rising Trend of Unclaimed Dividends in Nigeria
    (Journal of Internet Banking and Commerce, 2022) Eriki, Emoarehi; Iyoha, Francis O.; Adetula, Dorcas
    This paper examines the effect of e-dividend payment system and the management of unclaimed dividends in Nigeria. The object of this paper is to examine the effect of the introduction of e-dividend payments system to stem the tide of rising trend of unclaimed dividends in Nigeria. The paper examines the significance of the e-dividend policy between the pre and the post edividend payment periods. The study used the pre period of 2010 to 2014 and post period of 2015 to 2019 to determine the significant differences. The study used stochastic dominance to investigate the significant difference between the two periods. The paired sampled t-test was also employed as an additional statistical techniques for analysing the data collected to determine the significant difference. The study revealed that the introduction of e-payment of dividends in reducing the trend of increasing unclaimed dividends in Nigeria was not effective. The stochastic dominance between the two pre and post edividend payment system showed that the e-dividend payment system introduced has no impact on the rising unclaimed dividends in Nigeria. The study recommends that efforts should be made to focus on the relationship between the quoted companies and the registrars in the processing of payment of dividends in Nigeria.
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    Incidentof Unclaimed Dividends: A Panel Data Analysis of the Role of Quoted Companies in Nigeria
    (WSEAS TRANSACTIONS on BUSIINESS and ECONOMICS, 2023) Eriki, Emoarehi; Iyoha, Francis O.; Adetula, Dorcas