http://localhost:8080/xmlui/handle/123456789/29 Sun, 05 Apr 2026 19:42:52 GMT 2026-04-05T19:42:52Z http://localhost:8080/xmlui/handle/123456789/2996 FINANCIAL LEVERAGE AND DIVIDEND PAYOUT ON THE MARKET VALUE OF LISTED INDUSTRIAL GOODS FIRMS IN NIGERIA ARUMONA, Jonah The valuation of industrial goods firms in Nigeria's market is a crucial area of interest, as it reflects the complex interplay between firm leverage and dividend policy on investment decisions and economic growth in the region. This study aims to empirically examine the financial leverage and dividend payout on the market value of listed industrial goods firms in Nigeria. The specific objectives are to examine the effect of financial leverage ratio and dividend payout ratio on the market value of these firms. The research questions and hypotheses are formulated accordingly. The study uses a sample of 13 industrial goods firms listed on the Nigerian Exchange Group (NGX) from 2014 to 2023. The data was collected from annual published accounts of listed industrial goods firms and was analyzed using e-views software. The study tested the data with descriptive statistics, correlation analysis, Variance inflation Factor, hausman specification tests, and Random Effects regression test. The study found that both firm leverage ratio and dividend payout ratio were not significant in affecting the tobin’s Q of sample firms. The study recommended measures to improve the efficiency of both independent variables. Mon, 01 Jan 2024 00:00:00 GMT http://localhost:8080/xmlui/handle/123456789/2996 2024-01-01T00:00:00Z http://localhost:8080/xmlui/handle/123456789/2995 FIRM SIZE, FIRM GROWTH AND ENVIRONMENTAL REPORTING OF LISTED CONSUMER GOODS FIRM IN NIGERIA ARUMONA, Jonah The global emphasis on corporate sustainability and transparency has prompted an investigation on the relationship between environmental reporting, business growth, and size in Nigerian listed consumer products companies. Therefore the study examined firm size and firm growth on environmental reporting of listed consumer goods firm in Nigeria covering the period of fourteen (14) year 2010-2023. The study adopted ex-post facto research design and secondary data was used for analysis which was obtained from Nigerian Exchange Croup. Panel regression analysis technique was used to analyse the research data. The result revealed that firm size and firm growth has a negative and significant effect on environmental reporting index of consumer goods firm in Nigeria. The study therefore concludes that firm size and firm growth has insignificant influence on environmental reporting of consumer goods firm in Nigeria. The study recommends that management of consumer goods firm should not increase firm size of firm because it does not enhance the environmental reporting of consumer goods firms in Nigeria. Mon, 01 Jan 2024 00:00:00 GMT http://localhost:8080/xmlui/handle/123456789/2995 2024-01-01T00:00:00Z http://localhost:8080/xmlui/handle/123456789/2994 IMPACT OF OWNERSHIP STRUCTURE ON FIRM PERFORMANCE: EVIDENCE FROM LISTED MANUFACTURING FIRMS IN NIGERIA ARUMONA, Jonah Ownership structure of any company has been a serious agenda for corporate governance and that of performance of a firm. How ownership affect firm performance has been a topic investigated by researchers for many decades and the debate is still on-going. This article intends to contribute to the debate by examining the impact of share ownership in the Nigerian manufacturing sector. The research used the descriptive cross sectional survey design. Data was collected by secondary method. Ten firms were sampled for analysis using audited annual reports and accounts for eleven years covering 2005 to 2015. The fixed effect model of the regression analysis was found most suitable and employed in estimating the variables of the study. We found that there is no significant effect between the institutional and individual shareholders and the financial performance of manufacturing firms in Nigeria. We conclude based on the sampled firms that other factors rather than type of share ownership affect financial performance in Nigerian manufacturing sector. This can be attributed to the nature of shareholding in the manufacturing sector where ownership is mainly held by individual investors. Where firms are held by other firms, that firm's shareholding will not be widely dispersed. The government in its policy making function, should direct its searchlight on other areas rather than the type of shareholding in order to monitor and control the firms as a means of improving their financial performance. Sun, 01 Jan 2017 00:00:00 GMT http://localhost:8080/xmlui/handle/123456789/2994 2017-01-01T00:00:00Z http://localhost:8080/xmlui/handle/123456789/2993 INDEPENDENT DIRECTORS INFLUENCE ON AUDIT FEES OF QUOTED INSURANCE FIRMS IN NIGERIA: AN ANALYTICAL APPROACH ARUMONA, Jonah Debate has been ongoing on the factors that determine audit fees particularly at board level as audit fees has been linked to auditor independence and auditor switches which can negatively affect operations of an organization. The objective of this study is to determine if independent director is a factor that affects audit fees of insurance companies listed in Nigeria. Causal and expo facto research design were employed and a sample of 21 companies selected from 27 quoted insurance companies for the period 2009 to 2015. after a filtering process. Secondary data were collected from the annual reports of the companies for the period. The Audit fees is the dependent variable and Independent Director proxied by number on board, is the independent variable, the variable of interest. Company size proxied by total Assets. Company risk Proxied by Debt/Equity ratio. Auditor size proxied by either a Big4 Audit firm or not and firm age are control variables Data were analyzed using multiple regression model aided by the use of computer statistical package - STATA - to run the regression. Findings showed that the existence of independent director on the board is insignificant in the determination of audit fees. The study concludes that existence of Independent director on the board does not influence the audit fees of Nigerian listed Insurance Companies. The study recommends that regulatory authorities should make the appointment of independent director on the board on voluntary basis since they have no financial stake in the company. Furthermore greater emphasis should be placed on improving the effectiveness of non-executive directors on the board to enhance auditor Independence. Mon, 01 Jan 2018 00:00:00 GMT http://localhost:8080/xmlui/handle/123456789/2993 2018-01-01T00:00:00Z