Issues in Corporate Governance in Nigeria

Issues in Corporate Governance in Nigeria
Author: Nwude Chy
Publisher: GRIN Verlag
Total Pages: 37
Release: 2018-08-27
Genre: Business & Economics
ISBN: 3668782709

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Masterarbeit aus dem Jahr 2018 im Fachbereich BWL - Unternehmensforschung, Operations Research, , Sprache: Deutsch, Abstract: Corporate governance refers to the system through which organization are directed and controlled. Following the experiences of failed companies in America and Europe in recent times and the resultant consequence on unemployment, wealth creation and shareholder value, corporate governance has taken a centre stage worldwide especially in emerging economies such as Nigeria that can ill-afford system failure. Typically, in public corporations directors are elected by shareholders to manage the affairs of the corporate on their behalf; which by implications imposes on the directors fiduciary responsibilities. A person with fiduciary duty is a person entrusted with the power or property with the understanding that the person is working for the benefit of the individual(s) who may have entrusted them with such responsibilities – therefore directors have fiduciary responsibilities to work in the best interest of shareholders and for the benefit of shareholders not in the interest of some other people or their individual interest. From all indications, the current global financial crises have revealed severe shortcoming in corporate governance across the global, there seems to be a common factor, an apparent lack of checks and balances needed by companies in order to cultivate sound business ethics bringing about the concern for improved corporate governance across all continents, this provides the needed motivation for this study. In Nigeria; for instance several public companies including local subsidiaries of western multinational companies have been criticized for various degrees of unethical practices. The case of Cadbury Nigeria PLC referred to as ‘Deliberate breaches of accounting system and controls’, are only a tip of the ice berg in Nigeria, a country that has for many years been sapped by widespread corruption. The choice of Cadbury Nigeria Plc for this study is because of their strategic importance as industrial giant in Nigeria that are presumed to be well established and respected for decades. It is expected that this study will contribute to knowledge on corporate governance as well as proffer some solution to the shortcomings and challenges of corporate governance issues with reference to Nigeria.

Corporate Governance and Timeliness of Audited Reports of Quoted Companies in Nigeria

Corporate Governance and Timeliness of Audited Reports of Quoted Companies in Nigeria
Author: Peter Gbalam Eze
Publisher:
Total Pages: 9
Release: 2020
Genre:
ISBN:

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The study investigates corporate governance and timeliness of audited reports of quoted companies in Nigeria. The population was all quoted companies listed at the Nigerian Stock Exchange, collected secondary data from published financial statements on the compliance issued by the Nigerian Stock Exchange as of March 31 2018. The hypotheses formulated for this study was tested using the regression model. The study found that board composition has a significant effect on the timeliness of the audited reports. The result indicates that late filers companies are likely to have boards with significantly lower numbers of independent Non Executive Directors, audit committee members with financial expertise than their early filers companies. The study finds that board independent non-executive director and audit committee financial expertise have a significant positive effect on the timeliness of audited reports of companies. Therefore, the study concludes that corporate governance has a significant and positive impact on timeliness of audited reports of companies listed in the Nigerian stock exchange. In the light of the above, the study recommended that the late filers firms should learn the various process for speeding up audit reports from the early filers firms that guarantee their timeliness in the audited report, there could be an accounting that needs to be learnt by the late filers firms to improve their financial activities and finally, the regulatory authorities should continue to intensify stiffer fines in the pursuit of timeliness of audit reports among the companies.

Corporate Governance Framework in Nigeria

Corporate Governance Framework in Nigeria
Author: Olusola A. Akinpelu
Publisher: iUniverse
Total Pages: 513
Release: 2011
Genre: Business & Economics
ISBN: 1462035140

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Since her political independence from the British government in 1960, Nigeria has gone through different phases in the effort to develop the corporate sector. The intention was to drive the economy through corporate enterprises; however, the absence of effective corporate governance structure and conducive investment environment has no doubt been a source of concern for investors and successive governments. Meticulously researched and organized, this book takes the global view on corporate governance to provide insight into the corporate governance conundrum in Nigeria. Against the background of international standard, Author, Olusola A. Akinpelu proposes a number of reforms to the existing governance structure and delves into the history of corporate development from the 1960s through the present. In addition, Akinpelu offers an in-depth analysis of the philosophical foundations for corporate governance and compiles the theories, models, statutes, reforms, international standards, guidelines, and legal cases on corporate governance in the United Kingdom, Germany, the United States of America, and elsewhere to show how no country is completely immune from corporate collapse. A timely work, Corporate Governance Framework in Nigeria will interest students of business economics, business law, legal practitioners, and researchers in the field of corporate governance. 'An excellently well written book on all important subject of socio-economic value and relevance.'' - Guoleba Seri (Esq), Chairman/CEO, Seri Associates, LLC, NY. Founder and President/CEO, African Chambers of Commerce, United States.

Earnings Management and Corporate Governance. An Investigation OfFinancial Statement Reporting of Publicly Listed Companies in Nigeria

Earnings Management and Corporate Governance. An Investigation OfFinancial Statement Reporting of Publicly Listed Companies in Nigeria
Author: Ademola Akinteye
Publisher:
Total Pages: 868
Release: 2019-10-22
Genre:
ISBN: 9783346078728

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Doctoral Thesis / Dissertation from the year 2015 in the subject Business economics - Investment and Finance, grade: Great Distinction, UGSM-Monarch Business School Switzerland (Accounting and Finance), course: Doctor of Philosophy in Finance, language: English, abstract: The dissertation examined Earnings Management and Corporate Governance Governance Practices of the firms that are listed on the floor of the Nigerian Stock Exchange. The researcher investigated the published financial statements of all the listed companies across all the sectors of the exchange using empirical quantitative research methods. Al the variables of earnings management were extracted from the published annual financial statements and Directors Annual Reports through Content Analysis. The paper further explored all the variables of corporate governance as published by the Directors in the Annual Reports in the Financial Statements and through a face to face recorded interviews of the members of the Board of Directors, the members of the Audit Committees and the Heads of Internal Audit Functions in the Listed Public Companies. The study documented that companies that are listed on the Nigerian Stock Exchange are involved in both the upward and downward earnings management practices. This findings cut across all the Sectors and categorization of the companies on the Nigerian Stock Exchange. The research thus recommended the need for better oversight by the Board of Directors, the Audit Committee and the Market Regulators mainly the Security and Exchange Commission and the Nigerian Stock Exchange. The findings of the Research on Corporate Governance is mixed. In certain sectors, evidence of strong corporate governance are documented as reflected in the quality of Board Members, the Quality of the deliberations at the Board meetings, the independence of the Board, the independence of the Audit Committee and the independence and effectiveness of the Head of the Internal Audit function measur

Corporate Governance in Nigeria

Corporate Governance in Nigeria
Author: Bello Marshall
Publisher: African Books Collective
Total Pages: 252
Release: 2020-07-01
Genre: Law
ISBN: 978591657X

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Corporate Governance in Nigeria: Current Practices and Emerging Trends examines in a detailed approach the current status and structure of corporate governance in Nigeria. It outlines the basis for sound corporate governance as it relates to internal and external mechanisms put in place to ensure adequate control between different stakeholders through statutory and non-statutory regulations to enhance the economic vitality of economic entities in a country. The effectiveness or otherwise of corporate governance practice in a country is basically determined by legal, regulatory, institutional and value systems put place along with the economic status of the country.

Earnings Management and Corporate Governance. An Investigation of Financial Statement Reporting of Publicly Listed Companies in Nigeria

Earnings Management and Corporate Governance. An Investigation of Financial Statement Reporting of Publicly Listed Companies in Nigeria
Author: Ademola Akinteye
Publisher: GRIN Verlag
Total Pages: 862
Release: 2019-12-09
Genre: Business & Economics
ISBN: 334607871X

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Doctoral Thesis / Dissertation from the year 2015 in the subject Business economics - Investment and Finance, grade: Great Distinction, UGSM-Monarch Business School Switzerland (Accounting and Finance), course: Doctor of Philosophy in Finance, language: English, abstract: The dissertation examined Earnings Management and Corporate Governance Governance Practices of the firms that are listed on the floor of the Nigerian Stock Exchange. The researcher investigated the published financial statements of all the listed companies across all the sectors of the exchange using empirical quantitative research methods. Al the variables of earnings management were extracted from the published annual financial statements and Directors Annual Reports through Content Analysis. The paper further explored all the variables of corporate governance as published by the Directors in the Annual Reports in the Financial Statements and through a face to face recorded interviews of the members of the Board of Directors, the members of the Audit Committees and the Heads of Internal Audit Functions in the Listed Public Companies. The study documented that companies that are listed on the Nigerian Stock Exchange are involved in both the upward and downward earnings management practices. This findings cut across all the Sectors and categorization of the companies on the Nigerian Stock Exchange. The research thus recommended the need for better oversight by the Board of Directors, the Audit Committee and the Market Regulators mainly the Security and Exchange Commission and the Nigerian Stock Exchange. The findings of the Research on Corporate Governance is mixed. In certain sectors, evidence of strong corporate governance are documented as reflected in the quality of Board Members, the Quality of the deliberations at the Board meetings, the independence of the Board, the independence of the Audit Committee and the independence and effectiveness of the Head of the Internal Audit function measured by the reporting line of the holder of this role. In some sectors, the ingredients of strong corporate governance were missing thus suggesting a need for a more stricter regime of corporate governance to be implemented in these corporations.

Report of the Advisory Group on Corporate Governance

Report of the Advisory Group on Corporate Governance
Author: India. Advisory Group on Corporate Governance
Publisher:
Total Pages: 156
Release: 2001
Genre: Corporate governance
ISBN:

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Mostly in the Indian context.