Browsing by Author "Mgbame, Chijoke Oscar"

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    Board Gender Diversity, Audit Committee and Financial Performance: Evidence from Nigeria
    (Taylor and Francis, 2020-05-25) Chijoke-Mgbame, Aruoriwo Marian; Boateng, Agyenim; Mgbame, Chijoke Oscar
    This paper considers the effects of female representation and the proportion of female representation on corporate boards and audit committees on financial performance in an African context where institutions are weak. Employing a panel of 77 firms, our results show that female board representation exerts a positive and significant influence on firm financial performance. The study also finds that the performance effect of gender diversity is stronger for firms with two or more female directors, suggesting that building a critical mass of female representation enhances firm financial performance. Further analysis indicates that the inclusion of females on the audit committee appears to have a positive impact on firm financial performance. Our results are robust after controlling for endogeneity and the use of alternative measures of board gender diversity.
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    Corporate Social Responsibility Performance and Tax Aggressiveness
    (Academic Journals, 2017-09-30) Mgbame, Chijoke Oscar; Chijoke-Mgbame, Aruoriwo Marian; Yekini, S.; Yekini, Cecilia Olukemi
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    Discretionary environmental disclosures of corporations in Nigeria
    (Springer, 2018-11-01) Chijoke-Mgbame, Aruoriwo Marian; Mgbame, Chijoke Oscar
    Environmental disclosures in Nigeria are surrounded by controversy involving the pervasive impact of a voluntary regime. The absence of a statutory environmental reporting framework has become responsible for the nuances of what corporations disclose and what they are expected to disclose. Consequently, the study adopts quantitative research approach to generate empirical evidence on the determinants of the extent of environmental disclosure given a voluntary initiative amongst listed companies in Nigeria. The study employs the binary probit regression model for data analysis and a unique approach (for a study in Nigeria) of content analysis to identify the extent of environmental disclosure in the annual reports of selected Nigerian Stock Exchange companies. The findings show that firm characteristics such as firm size, firm performance, the availability of cash and the age of the firm are key determinants of the extent of environmental disclosure. This result can be attributed to the absence of relevant regulatory requirements and weak institutions. The study recommends the creation of a statutory environmental reporting framework that would provide corporate incentives and penalties for environmental responsiveness and irresponsiveness, respectively. In a country where there is evidence of the abuse of voluntary regime as it relates to the disclosure of environmental information, the legislation that makes environmental and social disclosures mandatory has become inevitable as it is the only way to guarantee environmental sustainability.
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    Dividend policy and share price volatility: UK evidence
    (Emerald, 2011-01) Hussainey, Khaled; Mgbame, Chijoke Oscar; Chijoke-Mgbame, Aruoriwo Marian
    Purpose – The purpose of this paper is to examine the relation between dividend policy and share price changes in the UK stock market. Design/methodology/approach – Multiple regression analyses are used to explore the association between share price changes and both dividend yield and dividend payout ratio. Findings – A positive relation is found between dividend yield and stock price changes, and a negative relation between dividend payout ratio and stock price changes. In addition, it is shown that a firm's growth rate, debt level, size and earnings explain stock price changes. Practical implications – The paper supports the fact that dividend policy is relevant in determining share price changes for a sample of firms listed in the London Stock Exchange. Originality/value – To the best of the authors' knowledge, this paper is the first to show that corporate dividend policy is a key driver of stock price changes in the UK.
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    The effect of pricing Strategy on the Sustainability of Microfinace Institutions: Evidence from Ghana
    (British Accounting and Finance Association, 2023-04-17) Sambian, Robert; Atiase, Victor; Salia, Samuel; Mgbame, Chijoke Oscar
    The pricing mechanisms of Microfinance Institutions (MFIs) contribute to their efficiency, thereby improving their sustainability and competitiveness. However, whether these pricing mechanisms are right and promote the acclaimed social logic of microfinance delivery remains largely under-researched. Adopting the Cycle Theory (LT), this paper investigates the predictors of financial sustainability of MFIs with a specific focus on the moderating role of microcredit pricing in Ghana. Using primary data collected from 334 MFIs in Ghana, the study through Partial Least Square Regression Modelling (PLS-SEM), tested the effects of four main factors of sustainability namely capitalization (CAP), deposits (DEP), portfolio at risk (PaR), technology (TECH). Secondly, the study tested the moderating role of pricing (P) on MFI sustainability. Our research evidence indicates that at 5% significance level, higher levels of capitalization, deposits and technology have a significant positive impact on MFI sustainability in Ghana. However, portfolio at risk (PaR) has a significant negative impact on the sustainability of MFIs in Ghana. The study also reveals that microcredit pricing in Ghana has a significant moderating effect on the relationship between Capitalisation and financial sustainability. The study, therefore, conceptualizes the determinants of MFI financial sustainability in the context of Ghana as well as the contingency role of microcredit pricing in this relationship. It also offers practical insights as to how institutional arrangements and appropriate pricing of microcredit matter in the development of financially sustainable MFIs that can consistently provide the poor with financial services. Keywords: Ghana, Microfinance, Microcredit prici
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    Examining the accounts of oil spills crises in Nigeria through sensegiving and defensive behaviours
    (Emerald, 2020-08-04) Mgbame, Chijoke Oscar; Egbon, Osamuyimen
    Purpose: The paper examines how oil multinational companies (MNCs) in Nigeria framed accounts to dissociate themselves from causing oil spills. Design/methodology/approach: We utilised data from relevant corporate reports, external accounts and interviews, and used sensegiving with defensive behaviours theoretical framing to explore corporate narratives aimed at altering stakeholders’ perceptions. Findings: The corporations gave sense to their audience by invoking scapegoating blame avoidance narrative in attributing the cause of most oil spills in Nigeria to outsiders (sabotage), despite potentially misclassifying the sabotage-corrosion dichotomy. Corporate stance was reinforced through justifying narrative, which suggested that multi-stakeholders jointly determined the causes of oil spills, thus portraying corporate accounts as transparent, credible and objective. Practical implications: With compensation to oil spills’ victims only legally permitted for nonsabotage- induced spills alongside the burden of proof on the victims, the MNCs are incentivised to attribute most oil spills to sabotage. On policy implication, accountability would be best served when the MNCs are tasked both with the burden of proof and a responsibility to demonstrate their transparency in preventing oil spills, including those caused by sabotage. Research implications: The socio-political dynamics in an empirical setting affect corporate accounts and how those accounts appear persuasive, implying that such contextual factors merit consideration when evaluating corporate accounts. For example, despite contradictions in corporate accounts, corporate attribution of oil spills to external factors appeared persuasive due to the inherently complicated socio-political dynamics. Originality/value: Crisis situations generate multiple and competing perspectives, but sensegiving and defensive behaviours lenses enrich our understanding of how crisis-ridden companies frame narratives to alter stakeholders’ perceptions. Accounts-giving therefore partly satisfies accountability demands, and acts as sensegiving signals aimed at reframing/redefining existing perceptions.
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    Executive compensation and CSR reporting in Nigerian listed companies
    (Department of Economics, National Defence Academy, Nigeria., 2017) Mgbame, Chijoke Oscar; Baba, B.; Chijoke-Mgbame, Aruoriwo Marian
    The objective of the study is to examine the effect of executive compensation on corporate social responsibility reporting. The study adopts a survey research design to address the objective. A sample of 100 companies listed on the Nigeria Stock Exchange was randomly selected and these companies would have audited their financial statements specifically for the year 2014. The study employs the T-test and Ordinary Least Square (OLS) regression technique to analyse the data. The findings reveal a negatively significant relationship between executive compensation and Corporate Social Responsibility Reporting (CSRR). Following these results, the study concludes that corporate characteristics can determine the CSR reporting of companies. In this regard, the study recommends that there is the need for regulatory agencies to develop a CSR reporting framework that focuses considerably on utilizing corporate attributes.
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    Firm performance and CEO turnover: The moderating role of CEO attributes
    (Emerald, 2023-06-16) Chijoke-Mgbame, Aruoriwo Marian; Boateng, Agyenim; Mgbame, Chijoke Oscar; Yekini, Kemi C.
    Purpose This study aims to examine the effects of firm performance on chief executive officer (CEO) turnover and the moderating role of CEO attributes on the firm performance–CEO turnover relationship. Design/methodology/approach Probit regressions were used to examine the relationship between various CEO attributes and CEO turnover and the moderation effect of firm performance on the CEO attributes–CEO turnover relationship. The sample comprises firms from the FTSE 350 Index covering the period 1999–2018. Findings The results indicate that firm performance negatively and significantly impacts CEO turnover. Further analysis reveals that selected CEO attributes, namely, CEO internal experience, CEO network size and CEO age, moderate the relationship between firm performance and CEO turnover. Specifically, CEO internal experience and performance combine to reduce the likelihood of CEO turnover. However, CEO network size and age when combined with firm performance increase the likelihood of CEO turnover. Practical implications The results imply that boards should pay more attention to CEO attributes in their decisions to hire and fire executive managers as these factors may affect a wide variety of firm outcomes. Originality/value This paper makes key contributions to the CEO turnover and corporate governance literature by providing evidence of key factors other than performance that can affect the CEO dismissal decision. Specifically, this study shows that CEO attributes such as CEO internal experience, CEO networks and CEO age far outweigh the importance of performance as a factor influencing CEO turnover decisions.
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    Reducing occupational fraud through reforms in public sector audit: evidence from Ghana
    (Emerald Publishing Limited, 2022-04-25) Ohalehi, Paschal; Mgbame, Chijoke Oscar; Kolawole, Alo; Agyemang, Samuel Kojo
    Purpose This paper aims to explore the contributions that public sector audit through reforms can make in dealing with the issues of occupational fraud in Ghana. Design/methodology/approach The issues surrounding the Ghana Audit Service (GAS) reports issued to parliament were reviewed using socio-legal methodology. The discussion as well as the theoretical contribution is informed by stakeholder theory. Findings The findings show matching of irregularities as reported by regular audit reports to schemes of occupational fraud and abuse as well as how the power to surcharge and disallow would serve as a deterrence mechanism in the fight against occupational fraud. Practical implications This paper concludes with discussions on specific requirements including the use of fraud investigators and modern forensic techniques in a collaborative effort with guidelines from the Supreme Audit Institution to minimise fraud. Originality/value This study, to the best of the authors’ knowledge, is the first to explore the role of GAS in minimising occupational fraud.
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    The role of corporate governance on CSR disclosure and firm performance in a voluntary environment
    (Emerald, 2019-12-21) Chijoke-Mgbame, Aruoriwo Marian; Mgbame, Chijoke Oscar; Akintoye, Simisola; Ohalehi, Paschal
    Purpose This study aims to investigate the impact of corporate social responsibility disclosure (CSRD) on firm performance and the moderating role of corporate governance on the CSRD–firm performance relationship of listed companies in Nigeria. Design/methodology/approach The paper uses a panel data set comprising 841 firm-year observations for the period covering 2007-2016. Fixed effect regression analysis was used to examine the relationship between CSRD and firm performance, and the moderating role of corporate governance in the CSRD–firm performance relationship. Findings The results of the study show that there are positive performance implications for firms that engage in CSRD. Although this study finds no effect of board size on the CSRD–firm performance relationship, it provides a strong evidence of a positive effect of board independence on the CSR–firm performance relationship. Practical implications The study contributes to the understanding of CSRD–firm performance relationship by providing evidence of the moderating role of corporate governance. It is, therefore, recommended that a stronger regulation be put in place for CSR engagement and the disclosure of same in Nigeria as well as robust measures for the enforcement of corporate governance mechanisms because there are economic benefits to be derived. Originality/value The findings contribute to the literature by providing up-to-date and original insights on the CSRD–firm performance relationship within a developing country context. It also uses an unco mmon method of measuring CSRD, taking into account the institutional biases that may arise from other methods used in studies on developed countries.