Browsing by Author "Ogiugo, Henry Usunobun"

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    CORPORATE GOVERNANCE MECHANISMS AND FINANCIAL REPORTING QUALITY OF LISTED COMMERCIAL BANKS IN NIGERIA
    (INSIGHTS INTO REGIONAL DEVELOPMENT, 2021-03-30) Ogbeide, Sunday Oseiweh; Ogiugo, Henry Usunobun; Adesuyi, Isaac Olufemi
    This study examined corporate governance mechanisms and financial reporting quality of listed commercial banks in Nigeria. The population of the study consists of all listed commercial banks on the stock exchange as at 31st December 2018. A sample of nine (9) listed commercial banks were selected and data were collected over the period 2008 to 2018. Descriptive statistics and panel Least Square regression were used for the data analysis. The findings reveal that board size and audit committee were negative and exerted significant impact on financial reporting quality of listed commercial banks while board independence is significant and exerts a positive influence on financial reporting quality of listed commercial banks in Nigeria. Female directorship does not have a significant relationship with financial reporting quality of listed commercial banks in Nigeria. The study therefore recommends that steps should be taken by regulators to stipulate stiffer penalty on firms engaging in earnings smoothing capable of undermining corporate governance ethics and framework for banks in Nigeria as this will serve as deterrent to others and further entrench sanity.
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    EMPIRICAL TEST OF CAPITAL ASSET PRICING MODEL ON SECURITIES RETURN OF LISTED FIRMS IN NIGERIA
    (INSIGHTS INTO REGIONAL DEVELOPMENT, 2020-12-30) Ogiugo, Henry Usunobun; Adesuyi, Isaac Olufemi; Ogbeide, Sunday Oseiweh
    This paper applied the capital-asset pricing model (CAPM) to determine stock returns of listed firms in the Nigeria Stock Exchange (NSE). For the purpose of investigation, annual data on stock price of twenty six (26) listed firms, Treasury bill a measure of risk- free rate and all share indexes a proxy for market returns were extracted while beta value was computed for the period 2010 to 2016 upon which the model was analyzed. Finding indicates that the CAPM generated a very high return among the firms given the influence of the beta coefficient. The study concludes that higher market risk measured by beta, is associated with higher expected returns. It is therefore recommended that managers of firms in other sectors in Nigeria need to constantly use this model to price security return with a view to guiding investors at investing in securities based on risk preference behavior and also to enable them maximize wealth from a basket of portfolio. .