Chinedu Francis Egbunike - Academia.edu (original) (raw)

Papers by Chinedu Francis Egbunike

International Journal of Financial, Accounting, and Management

Purpose: Prior studies show that inventory holding is closely linked to liquidity and procyclical... more Purpose: Prior studies show that inventory holding is closely linked to liquidity and procyclical dependent on the combination of macroeconomic and firm characteristics. Thus, conditional linear factor models such as OLS should fail to explain the inventory-holding motive, especially in the context of developing countries. This study seeks to empirically investigate the determinants of corporate inventory holding based on evidence from pharmaceutical companies in Nigeria. Research methodology: The study adopts the ex post facto research design. The final sample was eight pharmaceutical & healthcare firms quoted on the Nigerian Stock Exchange (NSE). The data were analysed using the quantile regression technique. Results: The results showed that the inflation rate had a positive effect on the inventory holding distribution at upper quantiles (75th); and, the cash conversion cycle on the inventory holding was significant at different quantiles (25th, 50th and 75th). Profitability and l...

Asian Journal of Accounting Research

PurposePrior studies have shown that heterogeneity plays a crucial role in addressing soft issues... more PurposePrior studies have shown that heterogeneity plays a crucial role in addressing soft issues linked to a firm’s corporate social responsibility stance. The purpose of this paper is to extend the prior literature on the effect of gender heterogeneity on environmental, social and economic performance dimensions, specifically, whether the female boardroom presence weakens or strengthens the performance along the three dimensions, commonly referred to as the corporate sustainability.Design/methodology/approachThe study from a positivist philosophy adopts a quantitative approach, and the final sample consisted of forty-six companies listed on the Nigerian Stock Exchange for the year 2011–2018. The final sample was a balanced panel of 344 firm years. The dependent variables were return on assets (ROA), environmental performance (ENV) and donations made for social causes (SOP). The ENV was measured using a content scoring system, with range of 1 to 5. The data were analysed using the ...

International Journal of Financial, Accounting, and Management

This study examined the effect of debt financing on the firm valuation of quoted non-financial fi... more This study examined the effect of debt financing on the firm valuation of quoted non-financial firms on the Nigerian Stock Exchange (NSE). The study specifically evaluated the effect of short-term debt to equity, long-term debt to equity, and total debt to assets on Tobin's Q for the period 2011 to 2019. Methodology: The study adopts the ex post facto research design. The sampling technique utilized in the study was non-probability sampling. The final sample comprised seventy-five firms quoted non-financial firms on the Nigerian Stock Exchange (NSE). The secondary data obtained from MachameRATIOS®were analyzed using panel regression techniques. Unlike prior studies, the study also employs the Arellano Bond Dynamic Panel-data Estimation Model for robustness analysis. Results: There is a negative effect of short-term debt to equity on Tobin's Q. The effect of long-term debt to equity and total debt to assets was positive and significant. Limitations: The main limitation is the unbalanced nature of some sectors due to data unavailability. Contribution: The study contributes to the literature in the context of developing countries, on the effect of long-term debt on firm valuation; consistent with the trade-off theory of the cost of longterm debt financing as an alternative to internal funding.

International Journal of Economics and Finance, 2014

There are increasing scholarly debates on the direction of policy to effectively improve the perf... more There are increasing scholarly debates on the direction of policy to effectively improve the performance of banks. Some scholars argue that bank performance is enhanced by improvements in the internal organization and managerial efficiency others argue that industry wide factors are integral to bank performance. In recent times, the direction of literature has shown that macroeconomic factors play a significant role in determining bank profitability. This paper investigates the determinants of bank profitability in the light of bank specific variables, industry related factors and macroeconomic influences, using a panel of selected banks that account for over 60% of total bank assets in Nigeria. Findings show that bank profitability is largely determined by credit risk and other factors that relate to the internal organization of banking firms. Market concentration is significant as a determinant of bank profitability. There is no evidence of structure-conduct-performance hypothesis, however empirical results show that there is no collusive behavior amongst banks. Exchange rate is significant as a determinant of bank profitability through return on equity and non-interest margin, but not significant to return on asset as a measure of profitability.

Applied Economics, 2008

ABSTRACT We examine the causality between foreign direct investment (FDI) and economic growth for... more ABSTRACT We examine the causality between foreign direct investment (FDI) and economic growth for 66 developing countries, taking into account their interaction with exports and technological change. Time series analysis for each country is conducted, based on a method introduced by Toda and Yamamoto (1995) for testing Granger causality in the presence of nonstationary time series. The main findings of this article are: FDI causes growth in several of the developing countries, but the mechanism through which this works differs across countries and reverse causality from growth to FDI exists for many countries.

Asian Journal of Accounting Research

PurposeThe study investigated the relationship between residual audit fee and real income smoothe... more PurposeThe 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/approachThe 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.FindingsThe 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/implicationsThe firms ...

Acta Commercii, 2014

Orientation: With banks faced with fulfilling the increasing demands of diverse stakeholders, thi... more Orientation: With banks faced with fulfilling the increasing demands of diverse stakeholders, this study sought to explore the views and motives for corporate social responsibility practices in the Ghanaian banking sector and also to investigate any possible relationship between these practices and financial performance.Research purpose: This article examined the impact of corporate social responsibility on financial performance using empirical evidence from the Ghanaian banking sector.Motivation for the study: Although corporate social responsibility is a hot topic in Ghana and banks do practise it, no detailed study has been conducted to ascertain whether banks derive any benefits therefrom.Research design, approach and method: A sample size of 22 banks was involved. A structured questionnaire was used to obtain primary data whilst archival records were used to gather the secondary data.Main findings: The findings revealed that banks in Ghana view corporate social responsibility p...

The objective of the study is to examine the nexus between accounting information and stock price... more The objective of the study is to examine the nexus between accounting information and stock price of quoted consumer goods manufacturing firms in Nigeria. The study adopts an ex post facto research design; and, the sample drawn from quoted consumer goods manufacturing firms on the Nigerian Stock Exchange (NSE). The study employs a combination of descriptive and inferential statistical technique to analyse the data. The panel data from 2011 to 2019 was retrieved from annual financial reports and empirically analysed using the pooled OLS procedure. The results showed a non-significant negative effect of earnings per share and sales growth ratio on the stock price indicator; while, the operating cashflow ratio had a significant positive effect. The profitability ratio, i.e., return on assets had a non-significant positive effect on stock price indicator. Based on this, the study recommended that investors pay closer attention to information from the statement of cashflows as they tend ...

This study investigates the nexus of strategic management accounting and competitive advantage in... more This study investigates the nexus of strategic management accounting and competitive advantage in manufacturing firms. The study adopts the survey research design. The sample for the study comprised forty accountants and forty administrative staffs from ten randomly selected manufacturing companies in Nnewi and Awka, Anambra State. The study relied on primary data; obtained from a structured questionnaire. The data were analysed using descriptive and inferential statistics. The formulated hypotheses where tested using one-sample t test. The results showed that strategic management accounting techniques significantly affects cost reduction and product differentiation decisions of manufacturing firms. This supports the fact that manufacturing firms in Anambra State can enhance their ability to achieve competitive advantage via adoption of SMA techniques. Based on this, the study recommends the use of strategic management accounting techniques, such as activity based costing for cost reduction decision making and attribute costing for product differentiation decisions making in manufacturing firms.

The study examined the effect of managerial stock ownership and audit fee on audit report lag of ... more The study examined the effect of managerial stock ownership and audit fee on audit report lag of quoted manufacturing firms in Nigeria. The ex-post-facto research design was adopted for this study. Study data comprised panel data from thirty nine quoted manufacturing firms in the conglomerates, consumer goods and industrial goods sectors spanning through 2011 to 2019 financial years. Independent variables were managerial stock ownership audit fees and audit quality while audit report lag served as the dependent variable. The study controlled for board characteristics (board size and independence), moral hazards (ratios of PPE and operating income to sales), risk (Altman"s Z-Score) and firm characteristics (firm size, profitability and leverage). Data analyses comprised descriptive and inferential statistics. Inferential statistics employed were Pearson correlation and multiple panel regression. The study concludes that there is significant interaction among managerial ownership, audit fees and audit report lag. It was recommended amongst others that the auditor-client bargaining process should elicit optimal audit fees that would maintain professionalism for auditors and timeliness for the firm and its stakeholders.

The study examines the effect of oil revenue on Nigeria's budget performance, from 1981 to 2016. ... more The study examines the effect of oil revenue on Nigeria's budget performance, from 1981 to 2016. The study made use of ex-post facto research design and utilised time series secondary data from the CBN Statistical Bulletin. The multiple regression results revealed that there is a significant relationship between oil revenue production and government annual revenue and expenditure; and, between oil revenue and gross domestic product (GDP). Based on this the study recommends that government should intensify efforts to search for alternative sources of revenue to supplement the oil revenue in order to actualise the budget. The government should adopt measures that can strengthen the economy and achieve stability, such as exchange rate stability.

The main objective of the study was to investigate the effect of corporate governance on tax avoi... more The main objective of the study was to investigate the effect of corporate governance on tax avoidance of quoted manufacturing firms in Nigeria. The study focused on internal corporate governance mechanisms and specifically examined the effect of board size, board independence, board diligence, CEO duality, and audit committee diligence. The ex post facto research design was adopted. The population comprised of all quoted manufacturing companies on the Nigerian Stock Exchange (NSE). The sample was purposively drawn as all companies in the consumer goods sector of the NSE. The hypotheses were validated using Quantile Regression technique. Results showed that board size, board independence, and board diligence were significant at the median and 75th quantile. CEO duality and audit committee diligence were not significant at the 25th, 50th, and 75th quantile. The study recommended among others moderate board sizes to improve efficiency of decisionmaking.

we have seen 18 months of unpredictability. 18 months of uncertainty. 18 months of deadly Coronav... more we have seen 18 months of unpredictability. 18 months of uncertainty. 18 months of deadly Coronavirus. The resurge of Covid after invention of vaccines across the world has affected everything including industry, Socioeconomic and education sector. Though GoI took many progressive decisions to save the nation from this pandemic in a warlike situation yet situation is not totally under control. Time is tough but it taught us several lessons of life. There is cascading effect of pandemic on education sector from school education to HEIs especially in assessment and evaluation of students. It is also true that challenges are always associated with the opportunities. As always research has proven to be saviour for the society and mankind with new inventions and innovations in all the sectors. This issue of Amity Business Review is a collection of such quality research papers from India and abroad. Have a thoughtful reading. Looking forward for your continued support and constructive feedback.

The study examines the relationship between regulatory environment and performance of pharmaceuti... more The study examines the relationship between regulatory environment and performance of pharmaceutical companies in Anambra State, Nigeria. The study utilized the descriptive survey research design. The population comprised top and senior management personnel from one healthcare products provider and drug manufacturer in Awka metropolis. The study used the census technique and the sample comprised of the entire sixty-three employees from the two establishments. The study relied on primary data; obtained from a structured questionnaire. The questionnaire was designed in the Likert scale form. The data was analyzed using descriptive and inferential statistics. Pearson Product Moment Correlation Coefficient was used to validate the formulated hypothesis. The results showed that regulatory environment had a negative significant effect on organizational performance. Based on the findings, the study recommended among others that Government implements policies and measures that could trigger stability and reduce political risks. Managers should assess the strengths/weaknesses and opportunities/threats inherent in the environment and find ways of adapting to its changing nature.

The 21st century has witnessed tremendous developments with breakthrough technologies such as art... more The 21st century has witnessed tremendous developments with breakthrough technologies such as artificial intelligence (AI), data science, etc. enabling advanced applications such as robotics, virtual assistants, etc. (Vermeulen, Kesselhut, Pyka, & Saviotti, 2018). These developments led to several aspects of traditional tasks performed by humans to be replaced by machines, thus, gradually the automation of several human related tasks. According to Makridakis (2017) the revolution in AI was directed to "substitute, supplement and amplify practically all tasks currently performed by humans, becoming in effect, for the first time, a serious competitor to them". Automation mainly affected routinized work in stationary, predictable environments (Ford, 2015; Wolfgang, 2016); particularly, where tasks mainly concern executing rules rather using cognitive processes (Levy & Murnane, 2007). Automation involves a broad range of technologies including robotics and expert systems, telemetry and communications, electro-optics, sensors, wireless applications, systems integration, and The study explores the interrelationship between job automation, employee turnover and organizational performance of Deposit Money Banks in Anambra State, Nigeria. The study adopted the descriptive survey research design. The population comprised of eighty (80) senior staff in eight (8) Deposit Money Banks (DMBs) in Anambra state. The study utilized the complete enumeration method; because the total identifiable respondents were less a hundred. Simple random sampling technique was used to select the respondents for the study. The study focused on primary data collected using a structured questionnaire. The questionnaire was pilot tested on a sample of 20 respondents from four DMBs. The reliability of the instrument was tested using Cronbach Alpha. The data were analyzed using Pearson Correlation, simple linear regression technique, and SEM. The results showed a significant positive relationship between job automation and employee dismissal; secondly, a significant positive relationship between job automation and customer satisfaction; and, lastly, employee dismissal mediates the relationship between job automation and customer satisfaction. Based on this, the study recommends that managers of contemporary organizations embrace technological adoption as a strategic response to competitive forces in the business environment. In this regard, managers are advised to adopt a complementary perspective during automation of business processes.

This study investigated the effect of directors' reputation capital on auditor selection choice o... more This study investigated the effect of directors' reputation capital on auditor selection choice of quoted manufacturing firms in Nigeria. Reputation is one of the top 10 business risks and a potential threat to a company's wellbeing or even its existence; the study specifically evaluated the effect of directorship industry reputation and directorship experience reputation on the choice of selecting an audit firm. The study is anchored on two theories: 'agency theory' and 'resource dependency theory'. The study adopted the ex-post facto research design. The population of the study included all manufacturing firms quoted on the Nigerian Stock Exchange (NSE) as of 31 st December 2019. The study relied on secondary sources of data which was obtained from the Nigerian Stock Exchange (NSE) as of 31 st December 2019. The study employs binary logistic regression to test the hypotheses. The study revealed a non-significant negative effect of directorship industry reputation on the choice of selecting a Big-4 or non-Big-4 audit firm. The study also found a significant positive effect of directorship experience reputation on the choice of selecting a Big-4 or non-Big-4 audit firm. Consequent to the findings, the study, therefore, recommends amongst others that the possible loopholes that may elude particular audit firms based on experience are put into consideration in the decision to choose a Big-4 or non-Big-4 audit firm.

The study investigates effect of distortionary and non-distortionary taxes on economic growth of ... more The study investigates effect of distortionary and non-distortionary taxes on economic growth of Nigeria and Ghana. The authors specifically, evaluate effect of profit tax and customs and import duties on Gross Domestic Product growth rate. The study adopts the ex post facto research design. The study used secondary sources of data. The time series data were obtained from the World Development Indicators of the World Bank for the years 1990 to 2018. The data were analysed using descriptive statistics, multiple regression technique, and Granger Causality test. The results showed a non-significant positive effect of profit tax; and, a positive but significant @ 10% effect of customs and import duties on GDP growth rate. The Granger Causality test showed no causal relationship between distortionary taxes and GDP growth rate; and, no causal relationship between non-distortionary taxes and GDP growth rate. Based on these, the study recommends that tax rates be regularly reviewed to avoid discouraging investments and profit shifting acts by MNCs in the region. In addition customs and import duties should be used as strategies for driving growth and a punitive approach for discouraging importation of harmful commodities.

A core factor positively affecting the quality of financial reporting is attention to due diligen... more A core factor positively affecting the quality of financial reporting is attention to due diligence with respect to audit which brings more comfortability to some stakeholders about the underlying economic performance of the company. Basically, this created significant effect, like increase in share prices, company's financial performance and erosion of investors' confidence on the Manufacturing Companies in Nigeria. The study therefore sets out to find investors the Effect of Financial Reporting Quality on Corporate Performance of Selected Quoted Manufacturing Companies. Data used for this investigation were collected from secondary sources. Secondary data include textbook, Annual Reports and financial statements and internet facilities. The Ex-post facto research design was employed in the study and the formulated hypothesis were tested by use of Multiple Logistic Regression. Based on the analysis and the hypothesis tested, it was showed that there is a statistically significant effect of Financial Reporting Quality on Corporate Performance of Selected Quoted Manufacturing Companies and based on this findings, it was recommended amongst others that, accounting information is required to be made available within a short period of time from the end of the reported period; otherwise, it loses some of its economic and credible value.

International Journal of Financial, Accounting, and Management

Purpose: Prior studies show that inventory holding is closely linked to liquidity and procyclical... more Purpose: Prior studies show that inventory holding is closely linked to liquidity and procyclical dependent on the combination of macroeconomic and firm characteristics. Thus, conditional linear factor models such as OLS should fail to explain the inventory-holding motive, especially in the context of developing countries. This study seeks to empirically investigate the determinants of corporate inventory holding based on evidence from pharmaceutical companies in Nigeria. Research methodology: The study adopts the ex post facto research design. The final sample was eight pharmaceutical & healthcare firms quoted on the Nigerian Stock Exchange (NSE). The data were analysed using the quantile regression technique. Results: The results showed that the inflation rate had a positive effect on the inventory holding distribution at upper quantiles (75th); and, the cash conversion cycle on the inventory holding was significant at different quantiles (25th, 50th and 75th). Profitability and l...

Asian Journal of Accounting Research

PurposePrior studies have shown that heterogeneity plays a crucial role in addressing soft issues... more PurposePrior studies have shown that heterogeneity plays a crucial role in addressing soft issues linked to a firm’s corporate social responsibility stance. The purpose of this paper is to extend the prior literature on the effect of gender heterogeneity on environmental, social and economic performance dimensions, specifically, whether the female boardroom presence weakens or strengthens the performance along the three dimensions, commonly referred to as the corporate sustainability.Design/methodology/approachThe study from a positivist philosophy adopts a quantitative approach, and the final sample consisted of forty-six companies listed on the Nigerian Stock Exchange for the year 2011–2018. The final sample was a balanced panel of 344 firm years. The dependent variables were return on assets (ROA), environmental performance (ENV) and donations made for social causes (SOP). The ENV was measured using a content scoring system, with range of 1 to 5. The data were analysed using the ...

International Journal of Financial, Accounting, and Management

This study examined the effect of debt financing on the firm valuation of quoted non-financial fi... more This study examined the effect of debt financing on the firm valuation of quoted non-financial firms on the Nigerian Stock Exchange (NSE). The study specifically evaluated the effect of short-term debt to equity, long-term debt to equity, and total debt to assets on Tobin's Q for the period 2011 to 2019. Methodology: The study adopts the ex post facto research design. The sampling technique utilized in the study was non-probability sampling. The final sample comprised seventy-five firms quoted non-financial firms on the Nigerian Stock Exchange (NSE). The secondary data obtained from MachameRATIOS®were analyzed using panel regression techniques. Unlike prior studies, the study also employs the Arellano Bond Dynamic Panel-data Estimation Model for robustness analysis. Results: There is a negative effect of short-term debt to equity on Tobin's Q. The effect of long-term debt to equity and total debt to assets was positive and significant. Limitations: The main limitation is the unbalanced nature of some sectors due to data unavailability. Contribution: The study contributes to the literature in the context of developing countries, on the effect of long-term debt on firm valuation; consistent with the trade-off theory of the cost of longterm debt financing as an alternative to internal funding.

International Journal of Economics and Finance, 2014

There are increasing scholarly debates on the direction of policy to effectively improve the perf... more There are increasing scholarly debates on the direction of policy to effectively improve the performance of banks. Some scholars argue that bank performance is enhanced by improvements in the internal organization and managerial efficiency others argue that industry wide factors are integral to bank performance. In recent times, the direction of literature has shown that macroeconomic factors play a significant role in determining bank profitability. This paper investigates the determinants of bank profitability in the light of bank specific variables, industry related factors and macroeconomic influences, using a panel of selected banks that account for over 60% of total bank assets in Nigeria. Findings show that bank profitability is largely determined by credit risk and other factors that relate to the internal organization of banking firms. Market concentration is significant as a determinant of bank profitability. There is no evidence of structure-conduct-performance hypothesis, however empirical results show that there is no collusive behavior amongst banks. Exchange rate is significant as a determinant of bank profitability through return on equity and non-interest margin, but not significant to return on asset as a measure of profitability.

Applied Economics, 2008

ABSTRACT We examine the causality between foreign direct investment (FDI) and economic growth for... more ABSTRACT We examine the causality between foreign direct investment (FDI) and economic growth for 66 developing countries, taking into account their interaction with exports and technological change. Time series analysis for each country is conducted, based on a method introduced by Toda and Yamamoto (1995) for testing Granger causality in the presence of nonstationary time series. The main findings of this article are: FDI causes growth in several of the developing countries, but the mechanism through which this works differs across countries and reverse causality from growth to FDI exists for many countries.

Asian Journal of Accounting Research

PurposeThe study investigated the relationship between residual audit fee and real income smoothe... more PurposeThe 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/approachThe 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.FindingsThe 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/implicationsThe firms ...

Acta Commercii, 2014

Orientation: With banks faced with fulfilling the increasing demands of diverse stakeholders, thi... more Orientation: With banks faced with fulfilling the increasing demands of diverse stakeholders, this study sought to explore the views and motives for corporate social responsibility practices in the Ghanaian banking sector and also to investigate any possible relationship between these practices and financial performance.Research purpose: This article examined the impact of corporate social responsibility on financial performance using empirical evidence from the Ghanaian banking sector.Motivation for the study: Although corporate social responsibility is a hot topic in Ghana and banks do practise it, no detailed study has been conducted to ascertain whether banks derive any benefits therefrom.Research design, approach and method: A sample size of 22 banks was involved. A structured questionnaire was used to obtain primary data whilst archival records were used to gather the secondary data.Main findings: The findings revealed that banks in Ghana view corporate social responsibility p...

The objective of the study is to examine the nexus between accounting information and stock price... more The objective of the study is to examine the nexus between accounting information and stock price of quoted consumer goods manufacturing firms in Nigeria. The study adopts an ex post facto research design; and, the sample drawn from quoted consumer goods manufacturing firms on the Nigerian Stock Exchange (NSE). The study employs a combination of descriptive and inferential statistical technique to analyse the data. The panel data from 2011 to 2019 was retrieved from annual financial reports and empirically analysed using the pooled OLS procedure. The results showed a non-significant negative effect of earnings per share and sales growth ratio on the stock price indicator; while, the operating cashflow ratio had a significant positive effect. The profitability ratio, i.e., return on assets had a non-significant positive effect on stock price indicator. Based on this, the study recommended that investors pay closer attention to information from the statement of cashflows as they tend ...

This study investigates the nexus of strategic management accounting and competitive advantage in... more This study investigates the nexus of strategic management accounting and competitive advantage in manufacturing firms. The study adopts the survey research design. The sample for the study comprised forty accountants and forty administrative staffs from ten randomly selected manufacturing companies in Nnewi and Awka, Anambra State. The study relied on primary data; obtained from a structured questionnaire. The data were analysed using descriptive and inferential statistics. The formulated hypotheses where tested using one-sample t test. The results showed that strategic management accounting techniques significantly affects cost reduction and product differentiation decisions of manufacturing firms. This supports the fact that manufacturing firms in Anambra State can enhance their ability to achieve competitive advantage via adoption of SMA techniques. Based on this, the study recommends the use of strategic management accounting techniques, such as activity based costing for cost reduction decision making and attribute costing for product differentiation decisions making in manufacturing firms.

The study examined the effect of managerial stock ownership and audit fee on audit report lag of ... more The study examined the effect of managerial stock ownership and audit fee on audit report lag of quoted manufacturing firms in Nigeria. The ex-post-facto research design was adopted for this study. Study data comprised panel data from thirty nine quoted manufacturing firms in the conglomerates, consumer goods and industrial goods sectors spanning through 2011 to 2019 financial years. Independent variables were managerial stock ownership audit fees and audit quality while audit report lag served as the dependent variable. The study controlled for board characteristics (board size and independence), moral hazards (ratios of PPE and operating income to sales), risk (Altman"s Z-Score) and firm characteristics (firm size, profitability and leverage). Data analyses comprised descriptive and inferential statistics. Inferential statistics employed were Pearson correlation and multiple panel regression. The study concludes that there is significant interaction among managerial ownership, audit fees and audit report lag. It was recommended amongst others that the auditor-client bargaining process should elicit optimal audit fees that would maintain professionalism for auditors and timeliness for the firm and its stakeholders.

The study examines the effect of oil revenue on Nigeria's budget performance, from 1981 to 2016. ... more The study examines the effect of oil revenue on Nigeria's budget performance, from 1981 to 2016. The study made use of ex-post facto research design and utilised time series secondary data from the CBN Statistical Bulletin. The multiple regression results revealed that there is a significant relationship between oil revenue production and government annual revenue and expenditure; and, between oil revenue and gross domestic product (GDP). Based on this the study recommends that government should intensify efforts to search for alternative sources of revenue to supplement the oil revenue in order to actualise the budget. The government should adopt measures that can strengthen the economy and achieve stability, such as exchange rate stability.

The main objective of the study was to investigate the effect of corporate governance on tax avoi... more The main objective of the study was to investigate the effect of corporate governance on tax avoidance of quoted manufacturing firms in Nigeria. The study focused on internal corporate governance mechanisms and specifically examined the effect of board size, board independence, board diligence, CEO duality, and audit committee diligence. The ex post facto research design was adopted. The population comprised of all quoted manufacturing companies on the Nigerian Stock Exchange (NSE). The sample was purposively drawn as all companies in the consumer goods sector of the NSE. The hypotheses were validated using Quantile Regression technique. Results showed that board size, board independence, and board diligence were significant at the median and 75th quantile. CEO duality and audit committee diligence were not significant at the 25th, 50th, and 75th quantile. The study recommended among others moderate board sizes to improve efficiency of decisionmaking.

we have seen 18 months of unpredictability. 18 months of uncertainty. 18 months of deadly Coronav... more we have seen 18 months of unpredictability. 18 months of uncertainty. 18 months of deadly Coronavirus. The resurge of Covid after invention of vaccines across the world has affected everything including industry, Socioeconomic and education sector. Though GoI took many progressive decisions to save the nation from this pandemic in a warlike situation yet situation is not totally under control. Time is tough but it taught us several lessons of life. There is cascading effect of pandemic on education sector from school education to HEIs especially in assessment and evaluation of students. It is also true that challenges are always associated with the opportunities. As always research has proven to be saviour for the society and mankind with new inventions and innovations in all the sectors. This issue of Amity Business Review is a collection of such quality research papers from India and abroad. Have a thoughtful reading. Looking forward for your continued support and constructive feedback.

The study examines the relationship between regulatory environment and performance of pharmaceuti... more The study examines the relationship between regulatory environment and performance of pharmaceutical companies in Anambra State, Nigeria. The study utilized the descriptive survey research design. The population comprised top and senior management personnel from one healthcare products provider and drug manufacturer in Awka metropolis. The study used the census technique and the sample comprised of the entire sixty-three employees from the two establishments. The study relied on primary data; obtained from a structured questionnaire. The questionnaire was designed in the Likert scale form. The data was analyzed using descriptive and inferential statistics. Pearson Product Moment Correlation Coefficient was used to validate the formulated hypothesis. The results showed that regulatory environment had a negative significant effect on organizational performance. Based on the findings, the study recommended among others that Government implements policies and measures that could trigger stability and reduce political risks. Managers should assess the strengths/weaknesses and opportunities/threats inherent in the environment and find ways of adapting to its changing nature.

The 21st century has witnessed tremendous developments with breakthrough technologies such as art... more The 21st century has witnessed tremendous developments with breakthrough technologies such as artificial intelligence (AI), data science, etc. enabling advanced applications such as robotics, virtual assistants, etc. (Vermeulen, Kesselhut, Pyka, & Saviotti, 2018). These developments led to several aspects of traditional tasks performed by humans to be replaced by machines, thus, gradually the automation of several human related tasks. According to Makridakis (2017) the revolution in AI was directed to "substitute, supplement and amplify practically all tasks currently performed by humans, becoming in effect, for the first time, a serious competitor to them". Automation mainly affected routinized work in stationary, predictable environments (Ford, 2015; Wolfgang, 2016); particularly, where tasks mainly concern executing rules rather using cognitive processes (Levy & Murnane, 2007). Automation involves a broad range of technologies including robotics and expert systems, telemetry and communications, electro-optics, sensors, wireless applications, systems integration, and The study explores the interrelationship between job automation, employee turnover and organizational performance of Deposit Money Banks in Anambra State, Nigeria. The study adopted the descriptive survey research design. The population comprised of eighty (80) senior staff in eight (8) Deposit Money Banks (DMBs) in Anambra state. The study utilized the complete enumeration method; because the total identifiable respondents were less a hundred. Simple random sampling technique was used to select the respondents for the study. The study focused on primary data collected using a structured questionnaire. The questionnaire was pilot tested on a sample of 20 respondents from four DMBs. The reliability of the instrument was tested using Cronbach Alpha. The data were analyzed using Pearson Correlation, simple linear regression technique, and SEM. The results showed a significant positive relationship between job automation and employee dismissal; secondly, a significant positive relationship between job automation and customer satisfaction; and, lastly, employee dismissal mediates the relationship between job automation and customer satisfaction. Based on this, the study recommends that managers of contemporary organizations embrace technological adoption as a strategic response to competitive forces in the business environment. In this regard, managers are advised to adopt a complementary perspective during automation of business processes.

This study investigated the effect of directors' reputation capital on auditor selection choice o... more This study investigated the effect of directors' reputation capital on auditor selection choice of quoted manufacturing firms in Nigeria. Reputation is one of the top 10 business risks and a potential threat to a company's wellbeing or even its existence; the study specifically evaluated the effect of directorship industry reputation and directorship experience reputation on the choice of selecting an audit firm. The study is anchored on two theories: 'agency theory' and 'resource dependency theory'. The study adopted the ex-post facto research design. The population of the study included all manufacturing firms quoted on the Nigerian Stock Exchange (NSE) as of 31 st December 2019. The study relied on secondary sources of data which was obtained from the Nigerian Stock Exchange (NSE) as of 31 st December 2019. The study employs binary logistic regression to test the hypotheses. The study revealed a non-significant negative effect of directorship industry reputation on the choice of selecting a Big-4 or non-Big-4 audit firm. The study also found a significant positive effect of directorship experience reputation on the choice of selecting a Big-4 or non-Big-4 audit firm. Consequent to the findings, the study, therefore, recommends amongst others that the possible loopholes that may elude particular audit firms based on experience are put into consideration in the decision to choose a Big-4 or non-Big-4 audit firm.

The study investigates effect of distortionary and non-distortionary taxes on economic growth of ... more The study investigates effect of distortionary and non-distortionary taxes on economic growth of Nigeria and Ghana. The authors specifically, evaluate effect of profit tax and customs and import duties on Gross Domestic Product growth rate. The study adopts the ex post facto research design. The study used secondary sources of data. The time series data were obtained from the World Development Indicators of the World Bank for the years 1990 to 2018. The data were analysed using descriptive statistics, multiple regression technique, and Granger Causality test. The results showed a non-significant positive effect of profit tax; and, a positive but significant @ 10% effect of customs and import duties on GDP growth rate. The Granger Causality test showed no causal relationship between distortionary taxes and GDP growth rate; and, no causal relationship between non-distortionary taxes and GDP growth rate. Based on these, the study recommends that tax rates be regularly reviewed to avoid discouraging investments and profit shifting acts by MNCs in the region. In addition customs and import duties should be used as strategies for driving growth and a punitive approach for discouraging importation of harmful commodities.

A core factor positively affecting the quality of financial reporting is attention to due diligen... more A core factor positively affecting the quality of financial reporting is attention to due diligence with respect to audit which brings more comfortability to some stakeholders about the underlying economic performance of the company. Basically, this created significant effect, like increase in share prices, company's financial performance and erosion of investors' confidence on the Manufacturing Companies in Nigeria. The study therefore sets out to find investors the Effect of Financial Reporting Quality on Corporate Performance of Selected Quoted Manufacturing Companies. Data used for this investigation were collected from secondary sources. Secondary data include textbook, Annual Reports and financial statements and internet facilities. The Ex-post facto research design was employed in the study and the formulated hypothesis were tested by use of Multiple Logistic Regression. Based on the analysis and the hypothesis tested, it was showed that there is a statistically significant effect of Financial Reporting Quality on Corporate Performance of Selected Quoted Manufacturing Companies and based on this findings, it was recommended amongst others that, accounting information is required to be made available within a short period of time from the end of the reported period; otherwise, it loses some of its economic and credible value.