Olubukola Ranti Uwuigbe
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4 publications
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Value relevance of financial statements and share price: a study of listed banks in Nigeria
Olubukola Ranti Uwuigbe , Uwalomwa Uwuigbe , Jimoh Jafaru , Ebeguki Edith Igbinoba , Olufemi Adebayo Oladipo doi: http://dx.doi.org/10.21511/bbs.11(4-1).2016.04Banks and Bank Systems Volume 11, 2016 Issue #4 (cont.) pp. 135-143
Views: 1454 Downloads: 743 TO CITEThis paper examined the effects of value relevance of financial statements on firms share price in Nigeria. In achieving the objectives of this research, the fact book from the Nigerian Stock Exchange Market and the audited financial statement of listed banks spanning the period 2010-2014 were used. Also, a total of 15 listed banks in the Nigerian stock exchange market were selected and analyzed for the study using the purposive sampling method. However, in analyzing the research hypotheses, the study adopted the use of both descriptive statistics and the use of Fixed Effects Panel data method of data analysis technique. Findings from the study showed that a significant positive relationship existed between earnings per share (EPS) and Last day share price (LDSP). The study recommends the need for banks in the country to improve on the quality of earnings reported, since it has a stronger ability to explaining share prices of firm.
Keywords: value relevance, financial statements, Nigerian, earnings per share, last day share, price, book value per share, accounting information.
JEL Classification: M41, G21 -
Corporate governance and quality of financial statements: a study of listed Nigerian banks
Uwalomwa Uwuigbe , Eluyela Damilola Felix , Olubukola Ranti Uwuigbe , Obarakpo Teddy , Falola Irene doi: http://dx.doi.org/10.21511/bbs.13(3).2018.02Banks and Bank Systems Volume 13, 2018 Issue #3 pp. 12-23
Views: 1915 Downloads: 438 TO CITE АНОТАЦІЯThis study investigated the influence of Corporate governance on the timeliness of financial reports of listed banks in Nigeria. In order to provide answers to the research questions raised in this study, data were generated from the annual report of the listed banks on the Nigerian Stock Exchange considering the period 2008–2015. The study used Board size, Board Independence and Foreign Executives on the board as proxies for corporate governance. The data were analyzed using descriptive statistics, correlation matrix and panel data regression analysis. It was observed that board size had a non-significant negative relationship with the timeliness of financial reports. Also, the study observed that board independence also had a non-significant negative relationship with the timeliness of financial reports. Finally, it was observed that foreign executives on the board had a significant positive relationship with the timeliness of financial reports. The study thus recommends that the existing legal framework in Nigeria should be developed that clearly specifies the rights and obligations of a bank, its management and, of course, other stakeholders.
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Corporate social environmental reporting and stock prices: an analysis of listed firms in Nigeria
Omoike Osereme Amiolemen , Uwalomwa Uwuigbe , Olubukola Ranti Uwuigbe , Ilogho Simon Osiregbemhe , Ajetunmobi Opeyemi doi: http://dx.doi.org/10.21511/imfi.15(3).2018.26Investment Management and Financial Innovations Volume 15, 2018 Issue #3 pp. 318-328
Views: 1045 Downloads: 269 TO CITE АНОТАЦІЯThe study investigated Corporate Social Environmental Reporting and its association with stock prices (using market price per share as at the financial year end) among listed firms in Nigeria. The study used a cross-sectional research design comprising 50 publicly listed companies across various sectors for the period of five years (2011–2015). For the selected firms, the annual report was used to collect the data. This research utilizes the panel data regression in analyzing the influence of the independent variable (measured by corporate social and environmental expenditure) on the dependent variable measured using the market price per share) for the respective years. Also, in an attempt to examine the relatively market price per share across the sampled industries, the study made use of the one-way analysis of variance; while the Granger causality test was also conducted to ascertain whether bi-directional relationships exist between explanatory variable and the dependent variable (i.e. corporate social and environmental expenditure and market price per share). Findings from the study revealed that the association between corporate social and environmental expenditure and the market price of the firm (when considered in aggregate) is not significant. The result from the Analysis of Variance (ANOVA) showed that the market price per share is significantly different across the industries.
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IFRS adoption and earnings predictability: evidence from listed banks in Nigeria
Uwalomwa Uwuigbe , Agba Love Uyoyoghene , Jimoh Jafaru , Olubukola Ranti Uwuigbe , Rehimetu Jimoh doi: http://dx.doi.org/10.21511/bbs.12(1-1).2017.10Banks and Bank Systems Volume 12, 2017 Issue #1 (cont.) pp. 166-174
Views: 1817 Downloads: 981 TO CITE АНОТАЦІЯThe quality of financial report and the extent to which investors rely on them to forecast future earnings is dependent on the accounting standards employed. The impact of IFRS adoption on earnings predictability of listed banks in Nigeria was examined in this study considering a sample of 11 listed banks in Nigeria. Categorically, data were obtained from the financial statement 2013 to 2014 (post-adoption period) and 2010 to 2011 (pre-adoption period). The data obtained were analyzed using regression on the Statistical Package for Social Sciences (SPSS). The study found a decrease in the ability of current earnings to predict future earnings after the adoption period. Thus, IFRS adoption has a negative impact on earnings predictability. The study further suggested that regulatory bodies of the banking sector should enforce strict adherence to IFRS procedures and principles, as well as put in place measures that will improve investors’ protection.
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Taxation, exchange rate and foreign direct investment in Nigeria
Olubukola Ranti Uwuigbe , Ayomide Omoyiola , Uwalomwa Uwuigbe , Nassar Lanre , Opeyemi Ajetunmobi doi: http://dx.doi.org/10.21511/bbs.14(3).2019.07Banks and Bank Systems Volume 14, 2019 Issue #3 pp. 76-85
Views: 1211 Downloads: 194 TO CITE АНОТАЦІЯThis paper investigates factors that may impact foreign direct investment in Nigeria. It seeks to establish the role of taxation (corporate tax) for foreign direct investment in Nigeria. Annual time series data derived from the Central Bank of Nigeria statistical bulletin and the United Nations Conference on Trade and Development covering a period of 31 years (1985–2015) were used for this study. The variables considered in the study include FDI, corporate tax, exchange rate, inflation rate, real gross domestic product (RGDP). They were analyzed using Ordinary Least Squares (OLS), Johansen Co-Integration model and Unit Root Test. Findings from this research observed that a negative relationship exists between corporate taxation and FDI. Also, the study observed that corporate tax have a significant impact on FDI and there exists a long-run relationship between the two variables.
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Does enterprise risk management impact accounting quality? Evidence from the Nigerian financial institutions
Adedayo Erin Olayinka , Uwalomwa Uwuigbe , Eriabie Sylvester , Olubukola Ranti Uwuigbe , Omoike Osereme Amiolemen doi: http://dx.doi.org/10.21511/imfi.16(4).2019.02Investment Management and Financial Innovations Volume 16, 2019 Issue #4 pp. 16-27
Views: 1413 Downloads: 179 TO CITE АНОТАЦІЯThis research empirically looked at Enterprise Risk Management impact on accounting quality of selected listed firms in the Nigerian financial sector. The study engaged the use of content analysis of the selected listed firms’ annual financial reports and corporate websites in determining the ERM disclosure index and its impact on accounting quality for a period of five years (pre-ERM period) (2007–2011) and another five years period (post-ERM period) (2013–2017). In attaining the proposed objectives, the study employed the panel Generalized Method of Moments estimator to test the hypotheses and find out the relationship between the variables. The study observed from the findings that there is no significant association between enterprise risk management and accounting quality during the pre-ERM period. This study adds to the body of knowledge in the area of corporate reporting, risk disclosure, risk management and accounting quality in emerging economies especially the Sub-Saharan African countries.
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Gender diversity and sustainability responsiveness: evidence from Nigerian fixed money deposit banks
Emmanuel Ozordi , Damilola Felix Eluyela , Uwalomwa Uwuigbe , Olubukola Ranti Uwuigbe , Chukwu Emmanuel Nwaze doi: http://dx.doi.org/10.21511/ppm.18(1).2020.11Problems and Perspectives in Management Volume 18, 2020 Issue #1 pp. 119-129
Views: 1262 Downloads: 187 TO CITE АНОТАЦІЯThis paper aims to explore the impact of gender diversity on firms’ sustainability responsiveness in ensuring collective drive toward achieving sustainable development goals (agenda) for Nigeria. This study explored female engagement from three major platforms, namely women as directors, management team leaders, and female workforce. The data used to conduct this study were derived from the annual reports of the sampled banks spanning through the period of 2013–2016. However, while data for this study were analyzed using EViews statistical tool, the sustainability reporting data were ascertained using the content analysis method. The outcome of this study depicts that female directors, female workforce, and women in the management team all had an adverse and positive association with sustainability reporting. However, this association was all insignificant. This further buttresses that gender diversity was not the major driving force behind the sustainability reporting of the sampled banks in Nigeria. This is because the sector is highly regulated. Hence, the study recommends that notwithstanding the outcome, in attaining the sustainable development goals (SDGs), there is a need to have more female representation on the strategic position of authority.
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- accounting quality
- accounting standards
- banks
- board independence
- board size
- corporate governance
- corporate tax
- director’s tenure
- discretionary accruals
- earnings
- environmental disclosure
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