Nangih Efeeloo - Academia.edu (original) (raw)

Papers by Nangih Efeeloo

This study investigated the cost implications of upstream activities on the financial performance... more This study investigated the cost implications of upstream activities on the financial performance of oil and gas companies in Nigeria: A study of Elf and Addax petroleum exploration. Two hypotheses were formulated to guide the study. The study investigated the relationship between social cost and financial performance of Elf and Chevron petroleum exploration (Nigeria). Survey research design was adopted for the study. Primary and secondary data were used for the study. Data collected was analyzed using Ordinary least square multiple regression. Results of the findings revealed that social cost on education, health agriculture and social donations significantly influence financial performance of the two companies under study. It was recommended that oil companies in our economy should establish a sound social responsibility system and shareholders should not frown or see as a hindrance to the preparation of social responsibility accounts and the compensation to the society by the fir...

International Journal of Finance Research

The accounting policy adopted by an enterprise, together with the level of approximations done by... more The accounting policy adopted by an enterprise, together with the level of approximations done by the management in financial statements, could either enhance or impair their relevance and reliability, and by extension, the credibility of financial decisions made by users of such reports. This is because financial statements portray the financial position and performance of entities. This study assesses the influence of management’s choice of accounting policy and accounting approximations in financial statements on the quality of financial reports of Small and Medium Enterprises in Nigeria. The study was anchored on the Stakeholders’ theory. The study also adopted the survey design approach. Data were mainly collected through the questionnaire and was analyzed using descriptive statistics and regression techniques. Findings revealed that wrong approximations may affect the quality of financial reports, together with other factors. It was recommended that management of small and me...

Global Journal of Scientific and Research Publications, 2021

This study examined the effect of tax estimates on profitability of non-financial firms in Nigeri... more This study examined the effect of tax estimates on profitability of non-financial firms in Nigeria. The study was anchored on the performance theory. The specific objectives were to assess the effects of "current tax estimates" and "deferred tax estimates" on profit after tax of listed non-financial firms in Nigeria. Ex-post facto and cross-sectional research designs were used in this study. The research questions and hypotheses were formulated based on the study objectives; and were tested at 5% level of significance. The secondary sources of data were collected from the published annual reports of 79 non-financial firms (covering a period of 7 years from 2013 to 2019) using purposive sampling technique. Research hypotheses were subjected to some preliminary data tests such as descriptive statistics and Pearson correlation matrix and was analyzed using multiple panel regression analysis taking cognizance of the Hausman effects tests. The results showed that current tax estimates had significant positive effect on PAT while deferred tax estimates also positively affected PAT. Thus, it was recommended that tax estimates (or provisions) of non-financial firms in Nigeria should be made in line with relevant statutes and accounted for as prescribed in International Accounting Standards 12 (Income Taxes), to ensure they do not have negative and unreasonable effects on profitability.

Journal of Applied Financial Econometrics, 2021

This study assessed the influence of financing mix on market potentials of quoted companies in Ni... more This study assessed the influence of financing mix on market potentials of quoted companies in Nigeria. The specific objectives were to determine the effects of equity, long term debt, and short term debt financingon book value per share, using firmsize as a moderating variable. The population was listed Oil and Gas companies on the Nigerian Stock Exchange. The study employed the ex post facto research design. Data were mainly collected from the published annual reports of the oil companies from 2013 to 2018 and was analyzed using regression. The findings revealed that equity, long term debt and long termdebt had positive influence on book value per share while firm size had positive and significant relationship. It was recommended that financial managers of oil and gas companies should ensure optimal financing mix that will ensure greater shareholders wealth at all times.

The accounting policy adopted by an enterprise, together with the level of approximations done by... more The accounting policy adopted by an enterprise, together with the level of approximations done by the management in financial statements, could either enhance or impair their relevance and reliability and, by extension, the credibility of financial decisions made by users of such reports. This is because financial statements portray the financial position and performance of entities. This study assesses the influence of management's choice of accounting policy and accounting approximations in financial statements on the quality of financial reports of Small and Medium Enterprises in Nigeria. The study was anchored on the Stakeholders' theory. The study also adopted the survey design approach. Data were mainly collected through the questionnaire and was analyzed using descriptive statistics and regression techniques. Findings revealed that wrong accounting policies and judgements might affect the quality of financial reports, together with other factors. It was recommended that small and medium enterprises management adhere to accounting standards when designing their accounting policies and in their judgements/approximations to reduce material errors and enhance the quality of their financial report.

Journal of Accounting, Business and Social Sciences, 2021

The study investigated the effect of accounting estimates on financial performance of listed non-... more The study investigated the effect of accounting estimates on financial performance of listed non-financial firms in Nigeria. The study used the ex post facto research design. Anchored on the Performance theory, 79 listed non-financial companies in Nigeria were purposively selected as the population sample. The data used were secondary data and were drawn from 2013 to 2019. The secondary data collected were analyzed using descriptive statistics, correlation and the fixed/random effect regression model. The results indicated that accounting estimates jointly put together was significant in predicting financial performance at 5% level of significance. But individually, depreciation estimates and intangible assets estimates had non-significant effects on return on assets and assets turnover. The study also found that inventory, property plant & equipment and accounts receivables estimates had significant effects on financial performance. It was concluded that accounting estimates influenced financial performance of listed non-financial firms. The study therefore recommended that listed non-financial firms should adhere to the provisions of relevant accounting standards (IFRSs), to ensure financial statements users are not misinformed due to the use of wrong estimates. The study contributed to knowledge by not only trying to fill the gap in literature identified in the subject area, but has also provided empirical evidence that will be useful for further research and by other stakeholders such as managers, investors and regulatory bodies in Nigeria and beyond.

Journal of Management and Science, 2021

This study assessed the effect of asset mix on financial performance of selected consumer goods f... more This study assessed the effect of asset mix on financial performance of selected consumer goods firms in Nigeria. The specific objectives of the study were to determine the effects of tangible non-current assets, current and intangible assets structures and returns on asset. Ex post facto research design was adopted and data obtained from the annual reports of the companies for a seven-year period from 2013 to 2019. Multiple regression analytical technique was employed in analyzing the data. The

Journal of Accounting and Financial Management, 2021

The risk of material misstatements in financial statements generally impair their fair presentati... more The risk of material misstatements in financial statements generally impair their fair presentation and credibility. These have serious negative implications on the reliability of financial decisions made by users of such reports; since financial statements portray financial position and business performance of entities; and forms an inevitable source for decision making. This study assesses the influence of accounting estimates on misstatements in financial reports of Small and Medium Enterprises in Nigeria. Specifically, we examined the impacts of
depreciation estimates, impairment loss, inventory estimates and goodwill estimates on financial reports. The population was Small and Medium Enterprises in Nigeria. The study employed the survey research design. Data were mainly collected primarily through the questionnaire and was analyzed using descriptive statistics and regression technique via SPSS statistical software. Findings revealed that wrong estimates may lead to, but are not the only causes of misstatements in financial reports. It was recommended that accountants should adhere to the provisions of accounting standards when making estimates; in order to reduce material errors or misstatements in financial reports, which they prepare for public consumption.

RHEMA UNIVERSITY JOURNAL OF MANAGEMENT AND SOCIAL SCIENCES, 2016

The essence of government, apart from protection of lives and property of the citizens, is to pro... more The essence of government, apart from protection of lives and property of the citizens, is to provide necessary public goods aimed at enhancing the living standards of its people. For them to do this, they need to embark on revenue generation, including internal sources. Collection of taxes, fees and levies is a key source of internally generated revenue among South-south States. Recently, there had been the problem of dwindling internally generated revenue facing governments in the South-south States of Nigeria. This study therefore sought to identify the fundamental problems peculiar with revenue generation in the South-south States which include; insecurity problems, poverty and deteriorating standard of living of the people, logistics, lack of tax statistics, issue of tax evasion and avoidance among others are the issues confronting revenue generation agencies in the states. This study recommends that South-south States’ Internal Revenue Service should embark on the Use of tax consultants/experts, carryout effective tax audit & monitoring exercises, continuous education of tax payers, reduce corruption and provision of necessary social amenities and other development projects for the citizens; as a way to ameliorate the problem of dwindling internally generated revenue.

Journal of Accounting Research, 2017

The study investigated the extent to which budget management (budget planning & preparation and b... more The study investigated the extent to which budget management (budget planning & preparation and budget execution & evaluation) impacted on the corporate profitability (net profit margin and return on equity) of organizations in the Nigerian maritime industry. The study relied principally on primary data and complemented it with secondary data. The survey research design was used for this research work. A well-structured five point liker-type questionnaire was used to obtain data from respondents. The Pearson Product Moment Correlation was employed to determine the relationship between budget management and corporate profitability while the significance of the variability was tested using the ANOVA with the aid of the SPSS multiple regression technique and descriptive statistics. The results of the various analyses showed the existence of a positively significant relationship between all dimensions of budget management and all the measures of corporate profitability. Furthermore, the study revealed that the moderating variable; firm size significantly influenced corporate profitability in the Nigerian maritime industry. The positive significant relationships between all variable in the study model indicate that a sound budget management system in an organization will significantly improve its profitability, maximize shareholders wealth and increase its value. The study recommended among other things that the corporate entities establish and enforce an efficient budget and budgeting practices in order to increase profitability and realize other objectives of the organization.

UNIVERSITY OF PORT HARCOURT JOURNAL OF ACCOUNTING AND BUSINESS, 2019

This study assesses the influence of Liquidity on Firm Investments. The specific objective was to... more This study assesses the influence of Liquidity on Firm Investments. The specific objective was to determine the effect of current ratio, cash ratio and acid test ratios (all measures of firm liquidity) on firm investments (measured using net asset per share). The study employed the descriptive research design. Judgmental sampling technique was used to select nine (9) out of twelve (12) quoted Oil and gas companies on the Nigerian Stock Exchange (NSE). Data were collected mainly from their published annual reports and was analyzed using Least Square Regression statistics using E-Views software. Findings revealed that current ratio had positive but insignificant relationship with firm investment; while cash and acid test ratios had negative and insignificant relationships with firm investments. The study concluded that apart from current ratio; both acid tests and cash ratios had negative correlations with firm investments. It was recommended that oil and gas companies should improve on their liquidity to enhance investments in assets.

European Journal of Accounting, Finance and Investment, 2018

Organizations exist in and interrelate with the society or environment. An insecure environment c... more Organizations exist in and interrelate with the society or environment. An insecure environment constitutes threat not only to lives and property of individuals but also to corporate citizens, thereby hindering business activities. This study examined the influence of insecurity costs on the profitability of construction companies in Nigeria's Niger Delta region. Data collected through the questionnaire were analyzed by means of descriptive statistics and the Pearson product moment correlation via Statistical Package for Social Sciences (SPSS). The results indicate statistical values of-0.672 between kidnapping costs and Gross profit margin;-0.567 between militancy and Gross profit margin;-0.575 between kidnapping costs and Operating profit margin and-0.536 between militancy costs and Operating profit margin respectively. What it means is that there exist significant but inverse relationships between insecurity costs and profitability of construction firms in the region. In conclusion, insecurity costs influenced profitability of construction firms negatively. The study recommended, among other things, that government should go beyond mere paying leap service/policy formulation, and ensure basic infrastructures are put place in the Niger Delta region to check this menace of insecurity. It further recommended a sincere and proactive handling of security issues and threats; continuous training/retraining of security personnel, provision of modern crime fighting equipment and other needed logistics for the security agencies. This, the study believes, will greatly check cases of incessant kidnappings, militancy and youth restiveness against the state and others carrying out their legitimate businesses in the country, and the Niger Delta, in particular.

Journal of Accounting and Financial Management, 2018

An insecure environment constitutes threat not only to lives and property of individuals but also... more An insecure environment constitutes threat not only to lives and property of individuals but also to corporate citizens. It hinders business activities. Oil and gas companies operating in Nigeria's Niger Delta incur huge operational costs due to lack of effective policing and these have significantly impacted on their operations and profit margins. This study examined the influence of effective policing on profitability of oil and gas companies in Niger Delta, South-south Nigeria. Data collected through the questionnaire and other secondary data sources (companies' financial statements) were analyzed by means of descriptive statistics and the Pearson product moment correlation. The statistical values of coefficient of correlation indicate 0.572 and 0.453 for the relationships between effective policing and return on total assets on one hand; and effective policing and operating profit margin on the other hand. The study therefore concludes that effective community policing influenced profitability of oil and gas companies positively. It was recommended that government should not merely pay lip service to security issues, but to ensure concrete steps are taken to curb insecurity, for businesses to thrive.

International SAMANM Journal of Finance and Accounting, 2016

Most developing countries of the world currently battle with the problem of inadequate funds to m... more Most developing countries of the world currently battle with the problem of inadequate funds to meet their financial needs. In a bid to solve that problem, some have resorted to taxing the informal sector. This study examined effects of taxing the informal sector in Nigeria. To achieve that, the researchers distributed a total of 110 questionnaires to respondents within Port Harcourt metropolis and its environs. The responses were presented using descriptive statistical tools of tables and bar charts. Formulated hypotheses were tested using the Kruskal Wallis and Chi square tests. Findings revealed that taxing the informal sector would boost revenue generation and also impact positively on the economic development of developing countries. The researchers therefore recommended: effective tax monitoring and audit of the informal sector operators, enhanced capacity building of staff of the Revenue Authorities, immediate establishment of revenue courts to try offenders where necessary, reduction of multiple taxes, etc. as some of the steps to be taken to ensure compliance to tax payments by informal sector operators.

Journal of Accounting and Financial Management, 2017

This research work examined the extent to which Accounting system put in place affect payroll fra... more This research work examined the extent to which Accounting system put in place affect payroll fraud in the Nigerian public sector. Data for the study was gotten from a structured and well validated questionnaire distributed to staff of Ministries, Departments, and Agencies (MDAs) of Government Parastatals in Rivers State of Nigeria. Data gathered were presented using descriptive statistical tools such as tables, percentages, and charts. Formulated hypotheses were tested at 0.05 level of significance level using t-tests and simple regression. Findings from the study revealed that there was significant correlation between the effectiveness of manual and computerized accounting system payroll fraud in the Nigerian public sector. Based on the findings, the study concluded that government should take strict methodology in recognizing the need for an active accounting and payroll system; which includes stiffer penalties in public sector. The study further recommends that everyone should join hands with EFCC and ICPC to curb corrupt practices in Nigeria. It further enjoined the Government to train Forensic accountants to block all the leakages in the Ministries and parastatals as an active measure to check the incidence of payroll fraud.

Journal of Accounting, Business and Social Sciences, 2020

This study examined the influence of capital intensity on profitability of listed oil and gas fir... more This study examined the influence of capital intensity on profitability of listed oil and gas firms in Nigeria. It specifically sought to determine the extent to which property, plant and equipment, intangible non-current assets, non-current prepayments as well as investment property, affect the profit margin of oil and gas firms in Nigeria. The study adopts the ex post facto research design. Data was generated from nine (9) listed oil and gas companies, which were selected through the purposive sampling procedure. The period of the study was five years (2014 to 2018). The random effect regression model was used to analyse the relationships between the variables of study, after applying the Hausman Test. The results showed that all the variables had significant positive effects on the profit margin except intangible non-current assets, which was not significant. It was therefore concluded that firms with higher capital intensity were bound to perform financially better than those with lower ones. Consequently, it was recommended that oil and gas firms should strive to have an optimal capital intensity that will ensure improved performance of their firms at all times.

European Journal of Accounting, Finance and Investment, 2020

This paper investigated the relationship between staff costs and profitability of quoted oil and ... more This paper investigated the relationship between staff costs and profitability of quoted oil and gas companies in Nigeria. It specifically examined the effects of staff salaries, medical expenses and training costs on the profit margin of listed oil and gas firms. Relevant conceptual, theoretical and empirical literatures were reviewed. The study was anchored on the Expectancy Theory. Data were collected from annual financial reports of the firms for the period, 2013-2018. Judgmental sampling technique was used to select a total of five (5) companies for the study and analyzed using descriptive, correlation and regression analysis tools. The results of the test of hypotheses indicated that both salaries and training costs impact positively on profit margin whereas medical expenses had negative effect on profitability; but only training cost was significant. In view of the above findings, it was recommended that the management of oil and gas firms in Nigeria should pay greater attention to staff training and development while ensuring that health hazards within the workplace are
minimized as much as possible. The study noted that since the success or failure of any management was a function of its relationship with the employees, management should always give priority to the welfare of its employees.

Advanced Journal of Economics, Business and Accounting, 2020

This study examined the influence of anti-fraud and forensic accounting strategies on financial r... more This study examined the influence of anti-fraud and forensic accounting strategies on financial reporting of government parastatals in Nigeria. Survey design was employed in the study.Specifically, it investigated the influence of anti-fraud policy/trainings, prompt response to fraud allegations, conduct of risk assessment and independent audit committee (Independent variables), on faithful representation (used as proxy for dependent variable). Primary data were purposively collected mainly through the questionnaire from selected Ministries, Departments and Agencies(MDAs) in Rivers State, South-south Nigeria; and analyzed using descriptive statistics, correlation and multiple regression analysis. The result showed that anti-fraud and forensic accounting strategies have positive and significant effect on financial reporting of government MDAs and parastatalsat 1% and 5% significant levelsrespectively. It was recommended that apart from putting in place appropriate anti-fraud policies and strategies, forensic audit units should be established in all the MDAs in order to audit past records of government and come upwith forensic evidences, where they suspect fraud; as these will further improve the relevance, reliability, understandability, fairness and comparability of government financial reports in Nigeria.

Journal of Accounting and Financial Management , 2020

Corporate financial statements are self-reports of the management intended to serve as instrument... more Corporate financial statements are self-reports of the management intended to serve as instruments of accountability, statement of cash flows inclusive. Information about the cash flows is useful in providing users of financial statements with a basis to assess the ability of the entity to generate and utilize cash and cash equivalents. This study examined, empirically, the relationship between cash flow management and the financial performance of some selected oil and gas firms listed on the Nigerian Stock Exchange. The work was anchored on the Stakeholders' Theory. It employed the judgmental research design. Data were obtained from the annual reports of five selected listed firms for five years (2013-2018) and analyzed with correlation and multiple regression techniques. The results obtained established that cash flows from operating and investing cash flows had negative and insignificant relationship with profitability whereas cash flow from financing activities had positive and significant influence on firm performance in the oil and gas sector. It was recommended that firms should re-evaluate their cash flow management strategies in order to enable them operate more profitably as well as generate cash flows sufficient enough to meet their daily cash needs as they fall due.

European Journal of Accounting, Finance and Investment , 2020

This study assessed the influence of current assets on stock performance of listed oil and gas co... more This study assessed the influence of current assets on stock performance of listed oil and gas companies in Nigeria. The specific objectives were: to determine the influence of trade receivables, inventories and cash/cash equivalents (all measures of current assets) on stock performance (measured using earnings per share). The study employed the ex post facto research design. Judgmental sampling technique was used to select five (5) quoted Oil and gas companies on the Nigerian Stock Exchange (NSE). Data were collected mainly from published annual reports and was analyzed using correlation and regression statistics. The results obtained from the analysis revealed that receivables and inventory significantly influenced share price of the listed firm whereas cash did not. The study therefore concluded that the receivables of oil and gas firms in Nigeria did not positively influence their share prices. Thus, efficiency management of a firm's current assets can positively influence its EPS. Based on these findings, it was recommended that the management of oil and gas firms should re-evaluate their credit policies in order to ensure that the level of receivables is reduced.

International Journal of Finance Research

Global Journal of Scientific and Research Publications, 2021

Journal of Applied Financial Econometrics, 2021

The accounting policy adopted by an enterprise, together with the level of approximations done by... more The accounting policy adopted by an enterprise, together with the level of approximations done by the management in financial statements, could either enhance or impair their relevance and reliability and, by extension, the credibility of financial decisions made by users of such reports. This is because financial statements portray the financial position and performance of entities. This study assesses the influence of management's choice of accounting policy and accounting approximations in financial statements on the quality of financial reports of Small and Medium Enterprises in Nigeria. The study was anchored on the Stakeholders' theory. The study also adopted the survey design approach. Data were mainly collected through the questionnaire and was analyzed using descriptive statistics and regression techniques. Findings revealed that wrong accounting policies and judgements might affect the quality of financial reports, together with other factors. It was recommended that small and medium enterprises management adhere to accounting standards when designing their accounting policies and in their judgements/approximations to reduce material errors and enhance the quality of their financial report.

Journal of Accounting, Business and Social Sciences, 2021

Journal of Management and Science, 2021

Journal of Accounting and Financial Management, 2021

RHEMA UNIVERSITY JOURNAL OF MANAGEMENT AND SOCIAL SCIENCES, 2016

Journal of Accounting Research, 2017

UNIVERSITY OF PORT HARCOURT JOURNAL OF ACCOUNTING AND BUSINESS, 2019

European Journal of Accounting, Finance and Investment, 2018

Journal of Accounting and Financial Management, 2018

International SAMANM Journal of Finance and Accounting, 2016

Journal of Accounting and Financial Management, 2017

Journal of Accounting, Business and Social Sciences, 2020

European Journal of Accounting, Finance and Investment, 2020

Advanced Journal of Economics, Business and Accounting, 2020

Journal of Accounting and Financial Management , 2020

European Journal of Accounting, Finance and Investment , 2020

Organizations exist in and inter-relate with the society or environment. An insecure environment ... more Organizations exist in and inter-relate with the society or environment. An insecure environment constitutes threat not only to lives and property of individuals but also to corporate citizens, thereby hindering business activities. Construction and other multinationals companies operating in Nigeria’s Niger Delta have incurred so much operational costs due to insecurity in the region and these have significantly impacted on their operations and profit margin. This study examined the influence of security costs on the profitability of construction companies in Nigeria’s
Niger Delta region. The research collected data through questionnaire and analyzed them by means of descriptive statistics and the Pearson product moment correlation via Statistical Package for Social Sciences (SPSS). The results indicate a significant but inverse relationship between security costs and profitability on the one hand, and a
moderately positive linear relationship between effective policing and profitability of construction firms in the region, on the other hand. In conclusion, security costs influenced profitability of construction firms negatively while effective security/policing in the business environment influenced profitability positively. The study recommended, among
other things, that government should go beyond mere paying lip service/policy formulation, and ensure basic infrastructure are put place in the Niger Delta region to check this menace of insecurity. It further recommended a sincere and proactive handling of security issues and threats; continuous training/retraining of security personnel, provision of modern crime fighting equipment and other needed logistics for the security agencies. This, the study believes, will greatly check cases of incessant kidnappings, militancy and youth restiveness against the state and others carrying out their legitimate businesses in the country, and the Niger Delta, in particular.