Browsing by Author "Ololade, Babatunde M."
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Item Assessment of the Financial Information Disclosures of Pension Fund Administrators in Nigeria(International Accounting and Taxation Research Group, 2018-02-21) Salawu, Rafiu O.; Ololade, Babatunde M.The study investigates extent of compliance of Pension Fund Administrators in Nigeria with PENCOM financial information disclosures guidelines with a view to ensuring that there is transparency and accountability in the management of the contributory pension schemes. Data were collected from both primary and secondary sources. Primary data were sourced from four hundred (400) respondents that are retirees under the contributory pension scheme through administration of questionnaire while secondary data were gathered from the annual reports of eleven (11) Pension Fund Administrators that were purposively selected based on size of fund under management and number of contributions. Primary data were analysed using descriptive statistics while secondary data were analysed using disclosure index to measure the extent of compliance. The study found that 9 out of the 11 sampled Pension Fund Administrators did not achieve 100% compliance on disclosure of financial information in their annual reports in accordance with PENCOM guidelines. Also, the channels of communication of accounting information to members of contributory pension plans in Nigeria on the performance of the fund under management of the PFAs are not meeting members' information needs. Furthermore, result showed that contributors displayed lack of knowledge of contributory pension schemes investment activities and risks. It was recommended that PENCOM should ensure compliance with the PENCOM financial reporting guidelines by the Pension Fund Administrators to enhance prudency and transparency in the management of contributory pension fund in Nigeria. Although annual reports are used by several users, yet contributors to contributory pension schemes as principals of the PFAs in agency relationship should be given more considerations in the choice of channels of communicating financial information to meet their information need and expectations.Item CASH FLOW AND FINANCIAL PERFORMANCE OF INSURANNCE COMPANIES: EMPRIRICAL EVIDENCE FROM NIGERIA(STRATEGII MANAGERIALE, 2016) Ogbeide, Sunday O.; Eragbhe, E.; Ololade, Babatunde M.The study examines the relationship between cash flow and financial performance of insurance companies in Nigeria using time series data for the period 2009-2014. Twenty seven (27) listed insurance firms were selected as sample size. The study uses both descriptive and inferential statistics to determine the relationship among the variables. It also employs the series of diagnostic tests to ensure stability of the time series used as well as to ensure the model meets the assumption of OLS. The findings reveal that Cash flow was observed to determine insurance firms’ financial performance and is statistically significant. Cash flow from operating activities was observed to significantly increase financial performance of the insurance companies in the period examined. Cash flow from financing activities was found to increase the financial performance of the sampled insurance firms, but was not statistically significant. The size of the insurance company did not increase the financial performance of the insurance firms and was also not statistically significant. The paper recommends that managers in insurance firm should regularly change the extent of the cash outflows under each activity to avoid negative cash flow position as well as financial crisis. Adequate investment appraisal is really a concern that insurance firms need to take into consideration when customers are taking up insurance coverage. The costs have to be weighed against the benefits accruable therefore.Item CORPORATE TAX AVOIDANCE OF LISTED FIRMS IN NIGERIA(CITN, 2018-09) Ololade, Babatunde M.; Salawu, Rafiu O.The study focuses on the long run corporate tax avoidance of listed firms in Nigeria with a view to examine the ability of listed firms to pay low amount of cash taxes in naira of pre-tax earnings over a long run period of twelve years. A sample of 19 listed firms were selected based on purposive sampling technique from the list of NSE 30 listed firms on the Nigeria stock exchange. The long-run cash effective tax rate developed by Dyreng, Hanlon, and Maydew (2008) to measure long run tax avoidance was adopted. The study finds that there is variation across the firms in tax avoidance at long run with some firms achieving a lower amount of cash taxes in naira of pre-tax earnings compared to others. The study concludes that firms in the consumer sector pay more taxes than financial service sector though financial service sector firms declare more profit before tax than the consumer sector firms. The study recommends than financial service sector firms should contribute more to education tax in Nigeria.Item E-Banking in Nigeria: Issues and Challenges(Research Journal of Finance and Accounting, 2017) Ogbeide, Sunday; Ololade, Babatunde M.The aim of this study was to assess issues and challenges of e-banking in Nigeria. The specific objectives were to ascertain the effect of e-banking on workers, job security in Nigeria banking industry, examine the relationship between e- banking and quality of service delivery of commercial banks in Nigeria, evaluate the relationship between e-banking and security of financial transactions and to find out if e-banking influences customers satisfaction in the Nigerian banking industry. The survey and descriptive research design were adopted in the methodology of the study. The population consists of all the customers and staff of three selected banks branches in the Benin metropolis. A sample of three hundred respondents was selected using the convenience random sampling techniques. The study employs primary data using questionnaires as the research instrument. The data analysis was carried out using summary statistics and ordinary least square regression analysis. The study findings indicate that employees’ job security has a positive relationship with E-banking and significantly influence E-banking in Nigeria; customers’ satisfaction was ascertained to have a positive relationship with e-banking and also influence e-banking penetration in Nigeria; security of financial transactions was found to have a positive relationship with e-banking, it however had inverse significant impact on e-banking; services delivery has a positive relationship with e-banking. It is therefore recommended that for effective ebanking penetration, investors education and marketing of e-banking products should be the key strategy banks should use to attract more customers towards embracing e-banking and increasing security for e-banking products, reduction of charges on e-banking products and increasing more ATM outlets in Nigeria as part of measures towards enhancing quality services delivery and promotion of e-banking as this will further enhance the recent need for financial inclusion as part of the monetary policy of the Central Bank of Nigeria.Item Financial Variables and Stock Price of Quoted Firms in Nigeria(JBVC, 2015-06) Ololade, Babatunde M.; Ogbeide, Sunny O.The study examines corporate board diversity and market performance of Nigerian quoted firms. Specifically, it evaluates the influence of board gender, board nationality, board independence, board ethnicity and board size on the stock prices of quoted firms in Nigeria. The research design is both descriptive and ex- post facto. The population consists of all firms quoted on the floor of Nigerian Stock Exchange (NSE) while the analysis is based on a cross-section of twenty (20) randomly selected companies in a seven-year (2006-2012) study period. Secondary data sourced from financial statements of the sampled firms and the daily official price lists of the NSE are used for the study. The method of analysis is the panel least squares multivariate regression analysis based on the fixed effect estimation. The analysis reveals that while board nationality (BN) has a positive and statistically significant impact on share price (SPRICE), all other variables — board gender (BG), board independence (BIN), board ethnicity (BE) and board size (BS) are negatively related to share price (SPRICE); with only the relationships between the latter and board independence (BIN) on the one hand, and board ethnicity (BE) on the other, being statistically significant. The study recommends to managers' of the nation's corporate organizations and relevant regulatory agencies to ensure that the composition of corporate boards should reflect national and ethnic diversity to promote firm's performance. In particular, the corporate organization should strive to have a mixed board of local and foreign directors to enhance quality board decisions while Nigerian quoted firm should avoid undue board dominance by any ethnic group.Item Stock Returns of ‘Sin’ and ‘Non- Sin’ Companies in Nigeria: A Comparative Empirical Assessment(THE INTERNATIONAL JOURNAL OF BUSINESS & MANAGEMENT, 2017) Ogbeide, Sunday O.; Umana, Emem E.; Ololade, Babatunde M.; Agbonibare, Fidelis O.This study comparatively analyzed the stock returns of sin and non- sin companies in Nigeria. The population of the study was heterogeneous consisting of all the quoted firms regarded as sin and the manufacturing ones at 31st December, 2016 which fall into the categories of non-sin companies. A sample of twenty-six (26) non-sin firms (manufacturing) and twenty-five(25) sin companies including banks was selected for the period 2010 and 2016. Summary statistics such as descriptive and correlation Statistics, Capital Asset pricing models (CAPM) and Panel estimation methods were used to analyze the data. The findings indicate that sin companies have higher stock return (excess returns), earnings per share but a lower dividend payment as against the comparables. Premised on these empirical findings, the study recommends that financial analysts should always encourage investors to invest more in selected companies regarded as sin based on their products and services than the non-sin companies due to better higher stock returns. Some of the companies considered as sin in terms of their production or services rendering need to be viewed differently by investors in that some of them in terms of exponential thinking are really not sin companies and as such investors have to exercise caution so as not be misled.