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Article
Publication date: 15 June 2010

Abel Ebel Ezeoha and Francis O. Okafor

The primary aim of this paper is to investigate the nature, degree and direction of the effects of certain classes of corporate ownership on capital structure decisions among

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Abstract

Purpose

The primary aim of this paper is to investigate the nature, degree and direction of the effects of certain classes of corporate ownership on capital structure decisions among firms.

Design/methodology/approach

Using a sample of 71 quoted companies in Nigeria, the study adopts panel fixed effects regression models to estimate the relationship between financial leverage and corporate ownership, while controlling for some firm‐specific characteristics like profitability, firm size and firm age.

Findings

The study finds that discrimination between indigenous and foreign firms is a major determinant of financial leverage in Nigeria; and that the consistency of empirical results and capital structure theories across countries depends much on the dominant nature of corporate ownership structure.

Research limitations/implications

An attempt to widely generalize the results of this study may be challenged by its relatively small sample. With data from just a sample of 71 firms, the robustness of the country‐, time‐ and company‐ effects may not have been fully captured in the estimation process.

Practical implications

The paper provides necessary platforms, especially to corporate managers, for aligning financing decisions and ownership structure to other structural characteristics such as size, age, and profitability.

Originality/value

The study is unique because it examines ownership effects on leverage using selected ownership classes; and because it focuses on an economy with harsh corporate operating environment and constrained capital market condition..

Details

Corporate Governance: The international journal of business in society, vol. 10 no. 3
Type: Research Article
ISSN: 1472-0701

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Article
Publication date: 12 July 2024

Francis Onyemaechi Okafor

The purpose of this paper is to draw attention to inherent barriers to help-seeking, particularly those caused by increased globalization and diversification of our societies. It…

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Abstract

Purpose

The purpose of this paper is to draw attention to inherent barriers to help-seeking, particularly those caused by increased globalization and diversification of our societies. It explores the underutilization of mental health resources by ethnic minority groups while highlighting some alternative treatment approaches with growing evidence bases.

Design/methodology/approach

Using a literature review and comparative analysis of relevant studies, the author makes a case for increased adoption of alternative therapies; citing the evidence base for the most promising treatments which include exercise therapy, mindfulness-based therapies, yoga for depression and spirituality-based therapies. It further compares the efficacy and advantages of these therapies with common mainstream therapies.

Findings

In comparison, some alternative treatment modules are just as effective, if not better than traditional, mainstream therapies for certain ailments. In conclusion, the paper calls for increased research on the efficacy of alternative therapies; and beckons service providers to explore the potential for these therapies to bridge the gap in treatment towards a more inclusive and client-centered mental health care.

Originality/value

The author provides a plethora of thought-provoking ideas in this article. For instance, he tendered a different outlook on barriers to treatment by differentiating between accessibility challenges versus underutilization. He also highlights the critical impact of Eurocentrism as a contributor to barriers to treatment utilization.

Details

Mental Health and Social Inclusion, vol. 29 no. 1
Type: Research Article
ISSN: 2042-8308

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Article
Publication date: 6 September 2022

Lawrence A. Isiofia, Emmanuel Nna, Francis O. Uzuegbunam and Eziyi O. Ibem

This research examines the association of physical development density, prevalence and types of microbes in colonized façade finishes of buildings in Enugu metropolis, Nigeria.

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Abstract

Purpose

This research examines the association of physical development density, prevalence and types of microbes in colonized façade finishes of buildings in Enugu metropolis, Nigeria.

Design/methodology/approach

Survey and experimental research designs were adopted. A total of 383 buildings were investigated with samples collected from those with colonized façade finishes. The microbes were identified using the standard procedure for genomic sequencing with descriptive statistics, and the chi-square test used to analyse the data.

Findings

The results revealed a 64% prevalence of microbial colonization and a significant association between this and physical development density with 71.0% of the colonized buildings located in high-density neighbourhoods of the metropolis. The sequencing also showed 24 different microbes with Trichophyton tonsurans, Trichophyton mentagrophytes and Trichoderma harzianum species being the most common in the colonized façade finishes.

Practical implications

The research informs building professionals and owners of the specific microbes involved in the colonization of façade finishes of buildings in high-density urban areas. It also provides a clue about the nature of damages and defects associated with microbial colonization of building façades and the type of biocide additives required for the production of microbial-resistant façade finishes in the hot-humid tropical environment of Nigeria and beyond.

Originality/value

The study has shown that there is a significant relationship between the intensity of urban land use and microbial colonization of façade finishes of buildings. It also identified some new or less known microbes responsible for the biodeterioration of façade finishes and the effects this has on the buildings and public health in the hot-humid tropics of Enugu, Southeast Nigeria.

Details

International Journal of Building Pathology and Adaptation, vol. 42 no. 6
Type: Research Article
ISSN: 2398-4708

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Article
Publication date: 30 May 2023

Nicholas Addai Boamah, Francis Ofori-Yeboah and Martin Owusu-Ansah

The study aims to investigate the effect of corruption and crime on the investments by firms in emerging economies (EEs).

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Abstract

Purpose

The study aims to investigate the effect of corruption and crime on the investments by firms in emerging economies (EEs).

Design/methodology/approach

The study adopts the generalised methods of moments (GMM) estimator and data across 57 EEs.

Findings

The study shows that crime management, corruption and external quality assurance drive-up investments. Additionally, investments decline with firm age and crime incidence. Corruption and crime managements increase investments by exporting firms more than non-exporting firms investments. Also, external auditor services benefit investments by large firms more than small-medium firms.

Originality/value

There is a need for EEs to implement policies that will curtail corruption and create a level playing field and sustainable firm growth. EEs firms must be innovative to expand their productive investments and grow over time. Also, EEs firms should seek external quality certification, invest in internal security and monitor goods in transit.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2054-6238

Keywords

Available. Open Access. Open Access
Article
Publication date: 14 September 2022

Chinedu Francis Egbunike, Ikponmwosa Michael Igbinovia, Kenebechukwu Jane Okafor and Lucy Cecilia Mmadubuobi

The study investigated the relationship between residual audit fee and real income smoothening, proxied as real operating cash flow and production expenditure smoothing of…

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Abstract

Purpose

The study investigated the relationship between residual audit fee and real income smoothening, proxied as real operating cash flow and production expenditure smoothing of non-financial firms in Nigeria.

Design/methodology/approach

The study relied on secondary data from annual financial statements of 75 firms in the non-financial sector from 2010 to 2019. The study estimated the residual audit fee using a modified model from several contexts to suit the Nigerian environment. The hypotheses were tested using the dynamic panel GMM estimation procedure.

Findings

The results showed a significant negative effect of residual audit fee on (real) operating cash flow smoothing and production expenditure smoothing of non-financial firms. The control variables showed mixed effects for the industry-related (firm size and profitability), auditor attribute (audit quality and audit report lag) and the board related (board size and board independence).

Research limitations/implications

The firms included in the analysis were selected based on data availability from MachameRatios® and the occurrence of missing values for some of the variables used in the various estimation models may bias results.

Practical implications

The study identifies the nexus between RAF and real earnings management practices of non-financial firms; and shows the implication of fee payment to the overall conduct of the audit. More so, the mixed findings from the CVs suggest that in the context of developing economies, shareholders and capital markets regulators should be watchful of residual audit fees and utilise it as a gauge for audit quality and also an indicator of opportunism and weak internal control in the firm in the future assessments.

Social implications

The implication of the study stems from its relevance to the capital market stability and the potential negative disastrous effect of corporate failure from earnings management practices.

Originality/value

The study develops a newly residual audit fee model to explore the effect of RAF on real income smoothing rather than the widely used models from prior literature; secondly, the focus on real activities manipulation may present additional evidence that applies to developing countries rather the widely used accrual measurement technique from an economic bonding perspective.

Details

Asian Journal of Accounting Research, vol. 8 no. 1
Type: Research Article
ISSN: 2443-4175

Keywords

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Book part
Publication date: 7 September 2023

Martin Götz and Ernest H. O’Boyle

The overall goal of science is to build a valid and reliable body of knowledge about the functioning of the world and how applying that knowledge can change it. As personnel and…

Abstract

The overall goal of science is to build a valid and reliable body of knowledge about the functioning of the world and how applying that knowledge can change it. As personnel and human resources management researchers, we aim to contribute to the respective bodies of knowledge to provide both employers and employees with a workable foundation to help with those problems they are confronted with. However, what research on research has consistently demonstrated is that the scientific endeavor possesses existential issues including a substantial lack of (a) solid theory, (b) replicability, (c) reproducibility, (d) proper and generalizable samples, (e) sufficient quality control (i.e., peer review), (f) robust and trustworthy statistical results, (g) availability of research, and (h) sufficient practical implications. In this chapter, we first sing a song of sorrow regarding the current state of the social sciences in general and personnel and human resources management specifically. Then, we investigate potential grievances that might have led to it (i.e., questionable research practices, misplaced incentives), only to end with a verse of hope by outlining an avenue for betterment (i.e., open science and policy changes at multiple levels).

Available. Content available
Book part
Publication date: 29 May 2020

Femi Oladele and Timothy G. Oyewole

Free Access. Free Access

Abstract

Details

Social Media, Mobile and Cloud Technology Use in Accounting: Value-Analyses in Developing Economies
Type: Book
ISBN: 978-1-83982-161-5

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Article
Publication date: 2 October 2019

Nacasius Ujah Ujah and Collins E. Okafor

A seemingly certain commonality in the extant literature is that firms that engage in the practice of managing earnings do so to massage their performance. The purpose of this…

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Abstract

Purpose

A seemingly certain commonality in the extant literature is that firms that engage in the practice of managing earnings do so to massage their performance. The purpose of this paper is to examine the pecuniary effect of the prior cost of capital and a firm’s location on the propensity for firms to manage earnings.

Design/methodology/approach

This study uses longitudinal data for US firms from COMPUSTAT and Center for Research in Security Prices from 1980 to 2010 for an average of 1,627 firms. The authors apply several regression methods – namely: least squares regressions, quantile, interaction-terms, seemingly unrelated and endogeneity test – and come to similar conclusions.

Findings

The authors find that managed earnings behavior varies depending on the prior cost of capital. Managers positively exacerbate earnings when the firms’ prior cost of debt is high. Managers inverse its exacerbation of earnings when the firms’ prior cost of equity is high. This effect remains the same in all regression techniques applied in this paper.

Originality/value

The authors contribute to the literature primarily in three areas. First, by considering the effect of a firm’s location jointly on a firm’s prior cost of capital, the authors show that a firm’s environment amplifies the managers’ discretionary actions. Second, by showing that the prior cost of capital which a firm pursues can inundate the managers to pursue and exacerbate earnings. Finally, the evidence suggests that adjustment in previous years for debt obligated firms and that location affects managed earnings behavior.

Details

International Journal of Managerial Finance, vol. 16 no. 1
Type: Research Article
ISSN: 1743-9132

Keywords

Available. Open Access. Open Access
Article
Publication date: 27 June 2023

Nicholas Addai Boamah, Francis Ofori-Yeboah and Kingsley Opoku Appiah

The study investigates the effect of political instability and employee tenure security on the performance of firms in middle-income economies (MIEs) after controlling for the…

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Abstract

Purpose

The study investigates the effect of political instability and employee tenure security on the performance of firms in middle-income economies (MIEs) after controlling for the influence of corruption, international quality certification, external auditor services and firm age. It examines whether ownership and sector effects matter in the explored relationships.

Design/methodology/approach

The study adopts the generalized method of moments estimator and collects firm-level cross-sectional data from 77 MIEs.

Findings

The evidence shows that political uncertainty, employee tenure security and firm age negatively impact firm performance. Also, external quality assurance mainly improves firm performance. Additionally, foreign-owned firms benefit from corruption more than their domestic counterparts. Moreover, there are ownership and sector effects in the firm performance drivers.

Practical implications

The findings suggest the need for MIE firm managers to implement policies and programs to improve permanent employees' efficiency, commitment and honesty. Policy makers and political actors must work toward a stable political environment in MIEs. The policy must also focus on at least minimizing corruption.

Originality/value

The study shows the contributions of employee tenure security, political instability and corruption to the performance of MIE firms. It documents sector and ownership effects in the factors influencing firm performance.

Details

Journal of Economics and Development, vol. 25 no. 3
Type: Research Article
ISSN: 1859-0020

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Article
Publication date: 11 August 2022

Milan Čupić, Mirjana Todorović and Slađana Benković

The purpose of the study is to investigate the association of earnings and cash flows with stock prices and returns, and the impact of regulatory changes on the value relevance of…

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Abstract

Purpose

The purpose of the study is to investigate the association of earnings and cash flows with stock prices and returns, and the impact of regulatory changes on the value relevance of accounting numbers.

Design/methodology/approach

The authors examine a sample of non-financial firms listed on the Belgrade Stock Exchange from 2005 to 2018 and use three regression models – price, return and differenced.

Findings

The authors find evidence that accounting earnings are more value relevant than cash flows. The authors also find negative relation of earnings changes with stock returns and argue that this is due to the lower persistence of negative earnings levels and changes. Finally, the authors find that the value relevance of accounting information in Serbia increases after the improvements in capital market regulation.

Research limitations/implications

Given the empirical focus on a transition economy, the widespread applicability of the study is limited. The findings, however, call for more research on transition economies to better understand the functioning of capital markets and the way information from financial statements is incorporated into stock prices.

Practical implications

The results imply that policymakers in transition economies should improve the accounting and capital market regulation to provide better investor protection and to improve the capital market conditions.

Originality/value

The authors add to knowledge about the value relevance of accounting information in emerging and transition economies. The results could be of interest to standard setters in their efforts to better understand and improve the quality of accounting information in emerging and transition economies.

Details

Journal of Accounting in Emerging Economies, vol. 13 no. 3
Type: Research Article
ISSN: 2042-1168

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