The Impact of Financial Literacy and Frequency of Meetings of Members of Audit Committe on Financial Reporting Quality in Nigerian Quoted Companies

The main objective of this study was to evaluate the impact of Financial Literacy (FL) and Frequency of Meetings(FM) of members of Audit Committee on financial reporting quality in Nigerian quoted companies. Data for the study were derived from annual reports of one hundred and thirty one (131) companies quoted on the Nigerian Stock Exchange over the period of 2006 to 2012. The data were analyzed using descriptive, correlation and Ordinary Least Square (OLS). The multivariate regression technique was utilized to estimate our model. The findings showed that audit committee financial literacy and audit committee frequency of meetings had a positive significant influence on financial reporting quality. Based on these findings, some recommendations were made, prominent amongst them, was that, in order to strengthen the impact of financial literacy on financial reporting quality, regulatory authorities such as SEC, CBN and NDIC, should give special attention to audit committee members with high status with a view to making it mandatory for all companies to comply with it. Status, in this context, implies an aspect of personal power reflecting the ability to influence outcomes based on perceived skills, qualities and personal attribute

Financial Structure and the Profitability of Manufacturing Companies in Nigeria

Finance mix is a major factor that affects the liquidity and the going concern of a business enterprise. After an idea has been conceived by an entrepreneur, there is need to also analyse the capital required for startup and means of financing the project. A good combination of sources of finance is expected to boost the profitability of an organization, but if not properly mixed, could have a negative effect on the profitability of the organization. The main objective of the study is to evaluate the effects of financial structure on the profitability of manufacturing companies in Nigeria. This study employed the use of secondary data. The Spearman’s Rank correlation and regression techniques were used for analysis, using the STATA Package for a sample of 25 manufacturing companies quoted on the Nigerian Stock Exchange for the period 2008-2012. The study showed that equity has a significant positive relationship with the profitability of manufacturing companies in Nigeria. The study recommends that managers should place greater emphasis on the facilitation of equity capital and policy makers should encourage manufacturing companies by reducing the cost of debt

DEPRESSIONARY EFFECT OF PROXIMITY OF RESIDENTIAL PROPERTIES TO WASTE DISPOSAL SITES IN NIGERIA (A Case Study of Solous Landfill Site)

It is important to know if and to which extent proximity to waste disposal sites or treatment plants depresses residential property values for many reasons. Whether as a measure of the impact of the sites on health and general welfare of the resident, or to ascertain the degree of monetary depression that would be suffered by property investors or even for future planning, it is imperative to know how these sites impact on the lives of the residents. Past studies have researched these impacts using a variety of hedonic models and Marginal Implicit Pricing, however, this study takes a special focus on the resident’s perspective based on the linear proximity to waste disposal sites. 260 questionnaires were distributed to residents within 1km to the site and Estate Surveyors in the area. The correlation between respondent’s profile and opinions are analyzed and it revealed that the site has major impacts on the residents perceived quality of life, security and total outlook of the area. It also showed that there is a negative correlation between the distance from landfill and the perceived quality of life of residents

Determinants of adoption and intensity of use of balanced nutrient management systems technologies in the northern Guinea savanna of Nigeria

As part of a major effort to address soil fertility decline in West Africa, a project on Balanced Nutrient Management Systems (BNMS) has since 2000 been implemented in the northern Guinea savanna (NGS) of Nigeria. The project has tested and promoted two major technology packages, including a combined application of inorganic fertilizer and manure (BNMS-manure) and a soybean/maize rotation practice referred to as BNMS-rotation. This study employed Tobit model to examine factors that influence the adoption and intensity of utilization of BNMS technologies in the NGS of Nigeria. Results showed that less than 10% of the sample households adopted at least one of the two components of the technology package by the end of 2002. However, by 2005 the adoption of BNMS-rotation had reached 40% while that of BNMS-manure had reached 48%. A number of factors such as access to credit, farmers’ perception of the state of land degradation, and assets ownership were found to be significant in determining farmers’ adoption decisions on BNMS-manure while off-farm income was found to be significant in determining farmers’ adoption decisions on BNMS-rotation. Extension services and farmer-to-farmer technology diffusion channels were the major means of transfer of BNMS technologies.Adoption, BNMS-manure, BNMS-rotation, Northern Guinea Savanna (NGS)., Agricultural and Food Policy, Community/Rural/Urban Development, Crop Production/Industries, Environmental Economics and Policy, Farm Management, Food Consumption/Nutrition/Food Safety, Food Security and Poverty, Health Economics and Policy, Institutional and Behavioral Economics, International Relations/Trade, Livestock Production/Industries, Productivity Analysis, Research and Development/Tech Change/Emerging Technologies, Research Methods/ Statistical Methods,

Assessing the Connectedness between Corporate Governance Mechanisms and Financial Performance of Listed Oil and Gas Companies in Nigeria

This research examines the nature of relationships that exist between corporate governance mechanisms (board composition, audit committee, board size and corporate governance disclosure) and financial performance (return on equity, profit margin and return on asset) in the Nigerian oil and gas industry. Secondary data from the audited financial statements of the fifteen listed oil and gas companies in Nigeria were employed. The test of hypotheses and other analysis of data were done using Pearson Correlation and regression analysis generated from SPSS, version 17. Findings from the study revealed that insignificant but positive relationship does exist between board composition and the performance of oil and gas companies in Nigeria. Evidence also exist that corporate governance disclosure level has a positive and significant impact on the ROE. This study therefore suggests that board of directors and stakeholders of oil and gas companies in Nigeria should pay more attention towards enhancing the independence of their audit committees and the extent of their corporate governance disclosure in order to enhance their level of profitability

A diverse array of genetic factors contribute to the pathogenesis of Systemic Lupus Erythematosus

Systemic lupus erythematosus (SLE) is a chronic systemic autoimmune disease with variable clinical presentation frequently affecting the skin, joints, haemopoietic system, kidneys, lungs and central nervous system. It can be life threatening when major organs are involved. The full pathological and genetic mechanisms of this complex disease are yet to be elucidated; although roles have been described for environmental triggers such as sunlight, drugs and chemicals, and infectious agents. Cellular processes such as inefficient clearing of apoptotic DNA fragments and generation of autoantibodies have been implicated in disease progression. A diverse array of disease-associated genes and microRNA regulatory molecules that are dysregulated through polymorphism and copy number variation have also been identified; and an effect of ethnicity on susceptibility has been described.http://dx.doi.org/10.1186/1750-1172-8-2IS