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Journal articles on the topic 'Consumer goods and firms'
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1
Omokorede, Abosede, and Margret Kabuoh. "CONSUMER BRAND PERCEPTION VARIABLES AND PURCHASE INTENTION OF SELECTED FAST-MOVING CONSUMER GOODS FIRMS IN LAGOS STATE, NIGERIA." International Journal of Advanced Studies in Economics and Public Sector Management 11, no. 1 (2023): 107–21. http://dx.doi.org/10.48028/iiprds/ijasepsm.v11.i1.09.
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The role of consumers in product purchase is critical as the success of any firm depends majorly on how the brand is perceived and the intention to purchase such product. However most firms do not position their products in the minds of the consumers which consequently results to little or non-brand perception as well as non-purchase intention by consumers. This study investigated the effect of consumer brand perception variables and purchase intention of selected fast-moving consumer goods (FMCGs) firms in Lagos State, Nigeria. Survey research design was adopted for this study. The population of the study was 1,774,657 consumers of fast-moving consumer goods firms that reside in different local governments of the different five regions in Lagos state Nigeria, and a sample size of 499 was determined using Krejcie and Morgan. Primary source of data was adopted with a validated and instrument with a Cronbach alpha value greater than 0.7. Both descriptive and inferential tools were used for the data analysis. Multiple regression analysis was used to determine the effect of the independent sub-variables on the dependent variable using Statistical Package for Social Science (SPSS) version 27. The study indicated that consumer brand perception variables have significant effect on the purchase intention of selected fast-moving consumer goods firms in Lagos State, Nigeria (Adj. R2 = 0.573; F (4, 425) = 106.412, p < 0.05). The study concluded that consumer brand perception has significant effect on the purchase intention of selected fast-moving consumer goods firms in Lagos State, Nigeria. The study recommended that management of fast-moving consumer goods firms should prioritize developing and maintaining strong brand perception among consumers which will enhance purchase intention and firm’s profitability.
2
Oyedokun, Godwin Emmanuel, Shehu Isah, and Niyi Solomon Awotomilusi. "Ownership Structure and Firm Value of Quoted Consumers Goods Firms in Nigeria." Journal of Accounting and Strategic Finance 3, no. 2 (2020): 214–28. http://dx.doi.org/10.33005/jasf.v3i2.65.
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This study examined the ownership structure's effect on the firms' value of quoted manufacturing firms (consumer goods) in Nigeria for 2010-2018. The total numbers of quoted consumer goods firms in the Nigeria stock exchange as of 31st December 2018 were twenty-one (21). A judgmental sampling technique was used to sample nineteen (19) consumer goods firms for the study. The study sought to examine whether ownership structure proxy by managerial Ownership, Institutional Ownership, foreign Ownership, and ownership concentration affect firms' values of quoted consumer goods in Nigeria. Data were collected from secondary sources through the annual reports and accounts of sampled consumer goods firms in Nigeria. The study adopted a panel regression technique as a tool of analysis. The result showed a negative effect of managerial ownership on firm value. While institutional Ownership, foreign Ownership, and Ownership concentration all positively affect the firm value of consumer goods firms in Nigeria. Therefore, the study recommends that the numbers of shares held by management should be reduced to increase the firm value of the listed consumer goods companies in Nigeria.
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Nwankwo, Ifeoma Juliet. "Effect of Financial Leverage on the Firm Value of Listed Consumer Goods Firms in Nigeria." European Journal of Accounting, Auditing and Finance Research 13, no. 6 (2025): 15–31. https://doi.org/10.37745/ejaafr.2013/vol13n61531.
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The study investigated the effect of financial leverage on firm values of listed Consumer goods firms in Nigeria. The specific objectives of the study were to examine the effect of debt ratio, debt to equity ratio, interest coverage ratio, debt to EBITDA ratio, and debt to capital ratio (which are proxies for financial leverage) on firm values (proxied by market capitalization) of listed Consumer goods firms in Nigeria. The study adopted ex-post facto research design and secondary data were extracted from the annual reports of sampled Consumer goods firms in Nigeria for the period 2013 – 2022. The panel regression and correlation analysis were used for data analysis. Findings showed that debt ratio has a non-significant negative effect on the market capitalization of Consumer goods firms in Nigeria, Debt to equity ratio has a non-significant negative effect on the market capitalization of Consumer goods firms in Nigeria, interest coverage ratio has a non-significant positive effect on the market capitalization of Consumer goods firms in Nigeria. Debt to EBITDA ratio and Debt to capital ratio have a significant positive effect on the market capitalization of Consumer goods firms in Nigeria. The implication of the findings is that the financial leverage ratios studied have a significant effect on the firm value of the Consumer goods companies in Nigeria. The study concluded that financial leverage ratios have a significant effect on firm value in the sector. The study recommended that firms in the Consumer goods sector should ensure that the proportion of leverage to equity should be properly managed and controlled to prevent the result of diminishing effects on their firm’s value.
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Dr., J. Jothi Krishnan, and S.Sivaraj. "Customer Motivation and Loyalty towards Shopping Malls in Chennai City." International Journal of Engineering and Management Research 8, no. 2 (2018): 118–23. https://doi.org/10.5281/zenodo.3361986.
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Consumer movement is a universal phenomenon. The goods or services available may be in abundance or in short supply, but the position of the consumer is weak, in relation to the seller. Sellers want customers, as buyers and not as complainants. The frustration and bitterness on the part of consumers, who have been promised much is indeed great, but they realise less. It can be due to the existence of sellers’ market, where consumers are voiceless. There are many practices whereby consumers are not only being denied their basic rights but are being deceived too. A consumer is an individual who consumes goods, manufactured by firms or created by nature (air, water etc.) and services offered by government hospital, educational institutions etc.
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Kabuoh, Margret, and Abosede Omokorede. "CONSUMER BRAND PERCEPTION VARIABLES AND PURCHASE DECISION OF SELECTED FAST-MOVING CONSUMER GOODS FIRMS IN LAGOS STATE, NIGERIA." International Journal of Innovative Research in Social Sciences and Strategic Management Techniques 10, no. 1 (2023): 118–34. http://dx.doi.org/10.48028/iiprds/ijirsssmt.v10.i1.09.
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Consumers play a vital role in the success of organizations as their purchasing decision can have a significant impact on the organisation's performance. Therefore, it is important for organizations to maintain a positive brand perception in the minds of consumers. This can be achieved through excellent customer service. However, poor consumer brand perception could lead to a decline in purchase decision leading to low sales and possible organizational failure. This study investigated the effect of consumer brand perception variables and purchase decision of selected fast-moving consumer goods (FMCGs) firms in Lagos State, Nigeria. The study adopted a survey research design. The population of the study was 1,774,657 consumers of fast-moving consumer goods firms that reside in different local governments of the different five regions in Lagos state Nigeria, and a sample size of 499 was determined using Krejcie and Morgan. The data was collected using a valid and reliable questionnaire with a Cronbach alpha value greater than 0.7. Both descriptive and inferential tools were used for the data analysis. Multiple regression analysis was used to determine the effect of the variables using Statistical Package for Social Science (SPSS) version 27. The study revealed that consumer brand perception variables have significant effect on the purchase decision of selected fast-moving consumer goods firms in Lagos State, Nigeria (Adj. R2 = 0.426; F (4, 425) = 59.236, p < 0.05). The study concluded that consumer brand perception has significant effect on the purchase decision of selected fast-moving consumer goods firms in Lagos State, Nigeria. It is recommended that management should invest in creating and maintaining strong brand perception among consumers to positively influence their purchase decisions. This can be achieved by developing effective branding and marketing strategies that focus on building brand awareness, attractiveness, positioning, associations, and image.
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O. V., Ayoade,, Odufisan, B., and Adedire, J. O. "Monetary Policy and The Financial Performance of Listed Consumer Goods Firms in Nigeria." African Journal of Accounting and Financial Research 7, no. 4 (2024): 50–61. http://dx.doi.org/10.52589/ajafr-t8zowazq.
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This study assesses the impact of monetary policy on the financial performance of the listed consumer goods firms in Nigeria. The study uses the purposive sampling technique and elimination method to determine the considered listed consumer goods firms in Nigeria from 2012 to 2023 and analyzed the impact of monetary policy variables of interest rates and inflation rate on the financial performance of these firms, measured by earnings per share as the indicator. Regression analysis was used to analyze the data. The results specifically show that changes in interest rate have a positive significant influence on the financial performance of listed consumer goods firms while changes in inflation rate have no significant influence on the financial performance of listed consumer goods firms. The study recommends the implementation of interest rate policies by the monetary authority that will balance stability and economic growth knowing the positive impact on the financial performance of the consumer goods firms.
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Yusuf, Nguavese Ruth, Godswill Yadok Nandak, and Olutokunbo Tunde Obafemi. "Effect of Intellectual Capital on Financial Performance of Listed Consumer and Industrial Goods Companies in Nigeria." FUDMA Journal of Accounting and Finance Research [FUJAFR] 2, no. 2 (2024): 120–32. http://dx.doi.org/10.33003/fujafr-2024.v2i2.104.120-132.
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The study examined the effect of intellectual capital on the financial performance of listed consumer and industrial goods firms in Nigeria from 2013 to 2022. The population of the study consisted of thirty-two (32) listed consumer and industrial goods firms on the Nigeria Exchange Group, from which a sample twenty-six (26) firms was chosen using the purposive sampling technique. The study used secondary data that was taken from the companies'financial statements, and it employed a longitudinal panel research design. The results showed that capital employed by the listed consumer and industrial goods firms in Nigeria has a positive and significant effect on the financial performance. However, the study found that human capital has no significant effect on the financial performance of listed consumer and industrial goods firms, while structural capital has a negative but significant effect on the financial performance. The study recommends that listed consumer and industrial goods firms should strategically invest to optimize capital employed as this will improve the financial performance.
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Bagana, Talatu K., Dr Saheed A. Lateef, and Prof Emeka E. Ene. "Effect of Liquidity Management on Financial Performance of Nigerian Consumer Goods Manufacturing Firms." International Journal of Research and Scientific Innovation XI, no. VI (2024): 210–29. http://dx.doi.org/10.51244/ijrsi.2024.1106018.
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The study examined the effect of liquidity management on the financial performance of Nigerian consumer goods manufacturing firms. The study adopted an ex-post facto research design. The study depends wholly on secondary data collected from the annual report of 10 listed consumer goods manufacturing firms on the Nigerian Exchange Group (NEG) from 2018 to 2022. The dependent variable for the study is financial performance which was proxies as return on asset while the independent variables are cash and cash equivalent, cash conversion cycle, quick ratio, current ratio and working capital were as the dependent variable. Panel analysis was used in the study. E-views 12 statistical package was used to analyze the data. The study discovered that cash and cash equivalents exert positive and significant impact on financial performance of consumer goods firms, that there is negative and significant relationship between cash conversion cycle and financial performance of consumer goods in Nigeria, that there is negative and no significant relationship between quick ratio and financial performance of consumer goods firms in Nigeria, that there is positive and significant impact of current ratio on financial performance of consumer goods firms in Nigeria, that there is positive and significant impact of working capital on financial performance of consumer goods firms in Nigeria. The study concluded that liquidity management significantly affects the financial performance of Nigerian consumer goods manufacturing firms. The study recommended that management reduce the magnitude at which they use up cash and its equivalent in settling their short-term obligations to improve their profitability.
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Oshim, Judethadeus Chukwuebuka, and Alex Onyeji Igwe. "Corporate Governance and Financial Performance of Listed Consumer Goods Firms in Nigeria." International Journal of Business and Management Review 12, no. 1 (2024): 96–115. http://dx.doi.org/10.37745/ijbmr.2013/vol12n196115.
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The study investigated corporate governance and financial performance of listed consumer goods firms in Nigeria. The specific objectives of the study were to examine the relationship between board size, board independence, board meetings, and return on assets of consumer goods firms in Nigeria. The study adopted ex-post facto research design and secondary data were extracted from the annual reports of sampled consumer goods firms for the period 2013 – 2022. Correlation technique was used for the test of hypotheses. Findings showed that, board size does not have a strong relationship with return on assets (ROA) of listed consumer goods firms in Nigeria with correlation coefficient of -0.3815. On the other hand, board independence does not have a strong relationship with return on assets (ROA) of listed consumer goods firms in Nigeria with correlation coefficient of 0.2753. However, board meetings do not have a strong relationship with return on assets (ROA) of listed consumer goods firms in Nigeria with correlation coefficient of -0.3904. This implies that none of the corporate governance mechanism studied can be influence return on assets of consumer goods firms in Nigeria. The study recommended that rather than solely increasing board size, consumer goods firms should prioritize diversity and the expertise of board members. Directors should possess skills and experience that align with the industry's specific needs. Achieving a balance between independent and non-independent directors is crucial. While board independence is important for governance, it should not impede industry-specific knowledge. Companies should strengthen board oversight mechanisms, utilizing robust audit committees and reporting structures to maintain independence while promoting industry expertise. The focus should be on the quality of board meetings rather than a specific number.
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Tahir, Muhammad Isah, Abdulkarim Shaibu Alhassan, and Godwin Emmanuel Oyedokun. "Impact of Audit Market Concentration and Auditor Attributes on Audit Quality of Consumer Goods Firms in Nigeria." FUDMA Journal of Accounting and Finance Research [FUJAFR] 2, no. 1 (2024): 166–77. http://dx.doi.org/10.33003/fujafr-2024.v2i1.79.166-177.
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This study investigated the relationship between audit market concentration, auditor attributes, and audit quality of quoted consumer goods firms in Nigeria. A purposive sampling technique was used to select five (5) quoted consumer goods firms that consistently published their annual reports from 2012 to 2020. Secondary data were sourced from annual reports of the selected quoted consumer goods in Nigeria. Data collected were analyzed using the pooled regression least square estimation technique. The result of the study revealed that audit market concentration exerts a positive and significant effect on the audit quality of quoted consumer goods firms in Nigeria. The result also indicates that the auditor’s independence positively and significantly impacts audit quality. In contrast, the auditor’s tenure has an insignificant positive effect on the audit quality of quoted consumer goods firms in Nigeria. Based on these findings, this study concludes that audit market concentration and auditor attributes improve audit quality of consumer goods firms in Nigeria. The study, therefore, recommends that firms ensure frequent auditor rotation to limit the chances of auditor-client over-familiarity which will jeopardize independence and reduce audit quality.
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Abdulwahab, Anas Idris, Hussaini Bala, Onipe Adabenege Yahaya, and Murtala Abdullahi. "Corporate Governance Committees and Sustainability Reporting of Listed Consumer Goods Firms in Nigeria." International Journal of Research and Innovation in Social Science VII, no. VII (2023): 1761–70. http://dx.doi.org/10.47772/ijriss.2023.70836.
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This study investigated the impact of corporate governance committees (finance, risk, remuneration and audit) on corporate sustainability reporting of 20 sampled consumer goods firms in Nigeria. In order to achieve the above stated objectives, this study employed a correlational research design to analyze data from 20 listed consumer goods firms in Nigerian Exchange Group (NGX) for the period of twelve (12) years (2011-2022) both years all-encompassing. Also, stakeholder’s theory was used to underpin this study. The logistic regression result revealed that finance, risk, and audit committees have a statistically positive significant association with sustainability reporting of listed consumer goods firms in Nigeria. While on the other hand, remuneration committee documented a positive but insignificant correlation with sustainability reporting of listed consumer goods firms in Nigeria. This study calls for more studies on corporate governance committees and sustainability reporting in another domain other than the consumer goods firms.
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Olaoye, Clement Olatunji, Adeboboye, and Roseline. "Working Capital Management and Performance of Industrial and Consumer Goods Firms in Nigeria: A Comparative Analysis." Information Management and Business Review 11, no. 3(I) (2019): 35–45. http://dx.doi.org/10.22610/imbr.v11i3(i).2945.
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This study conducted a comparative analysis on working capital management and performance ofindustrial and consumer goods firms in Nigeria. Precisely, the study compared effect of average collectionperiod and average payment period on return on capital employed of selected industrial goods and consumergoods firms. 20 firms were randomly selected over a period of 10 years data were collected from annualreport of the firms. This study used static data analyses to analyze data. Result showed average collectionperiod and average payment period exert insignificant positive effect on return on capital employed ofindustrial goods firms, while both average collection period and average payment period exert insignificantnegative effect on return on capital employed of consumer goods firms. Independent t-test result showedsignificant mean difference between coefficient estimate corresponding to industrial and consumer goodsfirms. This study concluded that there exists significant difference between the effect of working capitalmanagement on performance of industrial goods firms and consumer goods firms when performance ismeasured in terms of return on capital employed. Hence firms in both sub-sectors should be strategic whenmanaging working capital, by setting higher average payment period in a manner that will not crowd-outtheir credit worthiness.
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Chen, Yongmin, Zhuozheng Li, and Tianle Zhang. "Experience Goods and Consumer Search." American Economic Journal: Microeconomics 14, no. 3 (2022): 591–621. http://dx.doi.org/10.1257/mic.20200070.
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We introduce a search model where products differ in horizontal attributes and unobserved quality (“experience goods”), and firms can establish quality reputation. We show that the inability of consumers to observe quality before purchase significantly changes how search frictions affect market performance. In equilibrium, higher search costs reduce match values and increase price but can boost firms’ investment in product quality. Under plausible conditions, both consumer and total welfare initially increase in search cost, whereas both would monotonically decrease if quality were observable from search. We apply the analysis to online markets, where low search costs coexist with low-quality products. (JEL D11, D21, D83, L15)
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Ebimobowei, Appah. "The Moderating Influence of Intellectual Capital on the Relationship Between Corporate Governance Attributes and Financial Performance in Nigeria." British Journal of Management and Marketing Studies 6, no. 1 (2023): 31–54. http://dx.doi.org/10.52589/bjmms-adr5peqk.
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Corporate governance and intellectual competencies can provide corporate attractiveness and accomplishment. Hence, this study investigated the moderating effects of intellectual capital on the relationship between corporate governance attributes and the financial performance of listed companies in Nigeria. The study adopted ex post facto and correlational research designs. The population of the study was twenty-one (21) listed consumer goods manufacturing firms as of year-end 2020. The study used a census approach to determine a sample size of twenty-one (21) firms. Secondary data from the published annual financial reports of the sampled firms were used for data analysis. Descriptive statistics, correlation coefficient and multivariate analysis were used. The regression analysis revealed that board size has a positive and insignificant relationship with the return on equity of listed consumer goods manufacturing firms in Nigeria; Board independence has a positive and significant relationship with the return on equity of listed consumer goods manufacturing firms in Nigeria; board compensation has a negative and significant relationship with return on equity of listed consumer goods manufacturing firms in Nigeria; board diligence has a positive and significant relationship with return on equity of listed consumer goods manufacturing firms in Nigeria and intellectual capital positively and significantly moderates the relationship between corporate governance mechanism and return on assets of listed consumer goods manufacturing firms in Nigeria. The study concludes that intellectual capital moderates the relationship between corporate governance attributes and the financial performance of listed consumer goods manufacturing firms in Nigeria. The study recommends among others policymakers from listed firms should emphasise good corporate governance practices with quality intellectual input as a means of improving the level of financial performance. Hence, the implementation of corporate governance practices should be in terms of board accountability and transparency through quality human resources for the financial performance of listed firms in Nigeria.
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Nkwo, F. N., and S. N. Eneh. "The Impact of Effective Asset Management on Financial Performance of Nigerian Consumer Goods Corporations." Annals of Management Studies 10, no. 4 (2023): 13–22. https://doi.org/10.5281/zenodo.8403041.
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The study examined the impact of effective asset management on financial performance of Nigerian consumer goods corporations. The specific objectives of the study were to determine the effect of Account Receivables Turnover Ratio, Inventory Turnover Ratio and Property, Plant and Equipment (PPE) Turnover Ratio on Return on Assets (ROA) of Consumer Goods Firms in Nigeria. The research design employed in this study was <em>ex post facto</em>, spanning the years 2013 to 2022. Secondary data were extracted from the annual reports and accounts of the selected consumer goods firms in Nigeria. The data analysis involved multiple panel regression using a fixed effect model. The result revealed that the Account Receivables Turnover ratio has a positive (t-Statistic 2.92988) and significant (p-value 0.0267) effect on the Return on Assets of the sampled Consumer Goods Firms in Nigeria. Similarly, the Inventory Turnover Ratio demonstrated a positive (t-Statistic of 4.41911) and significant (p-value 0.0010) effect on the Return on Assets of these firms. Additionally, the Property, Plant, and Equipment Turnover Ratio exhibited a positive (t-Statistic 2.25927) and significant effect (p-value 0.0140) on the Return on Assets of the sampled Consumer Goods Firms in Nigeria. The findings implies that efficient management of account receivables, inventory, and property, plant, and equipment turnover can significantly contribute to enhancing the financial performance of consumer goods firms in Nigeria. In conclusion, the study demonstrates the positive and statistically significant effects of Account Receivables Turnover, Inventory Turnover, and Property, Plant, and Equipment Turnover Ratios on the Return on Assets of consumer goods firms in Nigeria. The study recommended that management of consumer goods firms in Nigeria should focus on optimizing their account receivables, inventory, and property, plant, and equipment turnover as strategies to improve financial performance.
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E., Appah, and Tebepah S.F. "Corporate Governance Mechanisms and Financial Performance of Listed Companies in Nigeria." British Journal of Management and Marketing Studies 6, no. 1 (2023): 55–83. http://dx.doi.org/10.52589/bjmms-grvrrkw7.
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This study investigated the relationship between corporate governance mechanisms and financial performance of listed consumer goods manufacturing firms in Nigeria for the period of 2011 to 2020. The specific objectives were to investigate the relationship between board size on return on equity, and evaluate the relationship between board independence on return on equity, board compensation on return on equity and board diligence on return on equity of listed consumer goods manufacturing firms in Nigeria. The study adopted ex post facto and correlational research designs. The population of the study was twenty one (21) listed consumer goods manufacturing firms as at the end of 2020. The study used a census approach to determine a sample size of twenty one (21) firms. Secondary data from the published annual financial reports of the sampled firms were used for data analysis. Descriptive statistics, correlation coefficient and multivariate analysis were used. The results disclosed that board size has a negative and insignificant relationship with return on equity of listed consumer goods manufacturing firms in Nigeria; board independence has a negative and significant relationship with return on equity of listed consumer goods manufacturing firms in Nigeria; board compensation has a positive and significant relationship with return on equity of listed consumer goods manufacturing firms in Nigeria; and board diligence has a negative and significant relationship with return on equity of listed consumer goods manufacturing firms in Nigeria. The study concludes that corporate governance mechanisms influence the financial performance of listed consumer goods manufacturing firms in Nigeria. The study recommends among others that board sizes should be enhanced as this allows for the appropriate combination of directors. A large board increases the chance of directors having appropriate knowledge, skill and networks. The knowledge, skill and networks of directors may increase the performance of an organization; non-executive directors who act as professional advisers to ensure competition among insiders encourage measures consistent with maximization of shareholder value.
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Binwai, Pirdam, and I A Mustapha. "CORPORATE GOVERNANCE MECHANISM AND FINANCIAL DISTRESS LIKELIHOOD: EVIDENCE FROM LISTED CONSUMER GOODS COMPANIES IN NIGERIA." International Journal of Research in Commerce and Management Studies 06, no. 02 (2024): 110–25. http://dx.doi.org/10.38193/ijrcms.2024.6210.
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This study examined the effect of corporate governance mechanism on financial distress likelihood of listed consumer goods firms in Nigeria for a period of fifteen years (2008-2022). Published annual reports were used as secondary data from the sampled firms. The population consists of 13 consumer goods firms listed on the Nigerian Exchange as at 31st December 2021 and the sample size was made up of 13 consumer goods firms having the required data. Atman’s Z- score was used to measure FDL. The study adopted multiple regression technique in analyzing the data extracted. The study concluded that board gender diversity has a significant effect on financial likelihood of listed consumer goods firm in Nigeria. However, board independence did not show significant effects on financial distress likelihood of listed consumer goods firms in Nigeria. The study recommended that the presence of independent directors on the board should be encouraged as they will enhance monitoring mechanism and reduce the propensity to likelihood of financial distress. Additionally, that the inclusion of female directors should be maintained by the listed consumer goods firm in Nigeria in order to mitigate the likelihood of financial distress
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DADA, Samuel Obafemi, Funsho Tajudeen KOLAPO, and Joseph Oluseye MOKUOLU. "Working Capital Management and Corporate Financial Performance of Consumer Goods Sector in Nigeria." Journal of Economics, Finance And Management Studies 4, no. 05 (2021): 443–51. https://doi.org/10.47191/jefms/v4-i5-11.
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The study assessed the impact of working capital management on corporate financial performance of consumer goods sector in Nigeria. The study specifically determined the impact of average collection period on the return on assets of consumer goods industries in Nigeria; assessed the effect of cash conversion cycle on the return on assets of consumer goods industries in Nigeria and evaluated the effect of average payment period on the return on assets of consumer goods industries in Nigeria. Panel data spanning five years (2013-2017) was gathered for five consumer goods firms in Nigeria. Panel estimation techniques such as descriptive, correlation, fixed effect (cross section and time specific), random effect and other post estimation tests was used in the study. Findings from the study indicated that average collection period exerts negative insignificant impact on the profitability of consumer goods firms with coefficient estimate of -.0000662(p=0.848>0.05); cash conversion cycle exerts negative insignificant impact on profitability of consumer goods firms with coefficient estimate of - .0002468 (p=0.527>0.05) and average payment period exerts negative significant impact on the profitability of consumer goods firms in Nigeria with coefficient estimate of .0016386 (p=0.049<0.05). Premise on these findings, the study suggested that management of manufacturing firms should adopt effective cost reduction strategies, measures to control labour cost vis-à-vis ensuring adequate supervision of workers, monitor firm’s assets and occasion employee training
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Azende Terungwa, Iorpev Luper, and Ganyam Amos Iorcher. "Effect of audit client importance on earnings management of nigerian listed consumer goods firms." Journal of Management and Science 12, no. 2 (2022): 114–19. http://dx.doi.org/10.26524/jms.12.39.
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The primary focus of this study was to examine the influence of audit client importance on earnings management of Nigerian listed consumer goods firms. The study adopted a descriptive research design. From 2012 to 2019, data were collected from 13 consumer goods firms listed on the Nigerian Exchange Group. Discretionary accrual was used to estimate earnings management.Descriptive statistics and random effects regression were used to analyse the data. The findings indicated that audit client importance (β=-0.1872) has a significant effect on the earnings management of Nigerian listed consumer goods firms. The study concluded that earnings management practices of Nigerian listed consumer goods firms are curtailed when the firms are of important clients to their auditors. The recommendation was that management of firms should enhance approaches that will improve their performance in terms of sales to remain important clients to their auditors.
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Ogochukwu, N. Onyeogubalu, N. Okeke Onyekachi, and U. Akwuobi Bridget. "Board Financial Expertise and Tax Avoidance of Listed Consumer Goods Firms in Nigeria." Global Journal of Economic and Finance Research 02, no. 01 (2025): 56–66. https://doi.org/10.5281/zenodo.14671202.
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<strong>ABSTRACT: </strong>The research examined the effect of board financial expertise on tax avoidance among publicly listed consumer goods companies in Nigeria. The specific objective was to investigate the degree to which directors’ financial expertise affects effective tax rate. The study employed an ex-post facto research design and included a population of 21 listed consumer goods firms, from which a sample of 15 firms was selected. Data was collected from the annual reports of these firms covering the period from 2014 to 2023, providing a total of 10 years of data. Prior to hypothesis testing, the data underwent several preliminary diagnostic tests, including descriptive statistics, test for normality, heteroskedasticity, linearity, and autocorrelation. Following these checks, the Robust Least Squares method was applied to test the study's hypotheses. The finding revealed that Directors’ financial expertise significantly and negatively affects tax avoidance of listed consumer goods firms in Nigeria (β = -0.040738; p-value = 0.0000). In conclusion, firms with directors possessing robust financial skills and knowledge tend to engage in less aggressive tax avoidance practices. Based on the significant negative effect of directors' financial expertise on tax avoidance, it is recommended that the boards of listed consumer goods firms in Nigeria actively prioritize the recruitment of directors with substantial financial expertise to ensure effective oversight and reduce the risk of tax avoidance behaviors, thus enhancing the firm's governance and tax compliance.
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Azende, Terungwa, Iorpev Luper, and Iorcher Ganyam Amos. "Effect of Audit Client Importance on Earnings Management of Nigerian Quoted Consumer Goods Firms." International Journal of Management, Accounting and Economics 9, no. 2 (2022): 85–96. https://doi.org/10.5281/zenodo.6613425.
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The primary focus of this study was to determine the effect of audit client importance on earnings management of Nigerian quoted consumer goods firms. The descriptive research design approach was adopted. From 2012 to 2019, data were obtained from 13 consumer goods firms quoted on the Nigerian Exchange Group. The discretionary accrual approach was used to evaluate earnings management. Descriptive statistics and random effects regression were the main techniques used to analyse the study’s data. The findings indicated that audit client importance (β=-0.1872) has a negative and significant effect on the earnings management of Nigerian quoted consumer goods firms. The study concluded that earnings management practices of Nigerian quoted consumer goods firms are curtailed when the firms are of important clients to their auditors. The recommendation was that management of firms should enhance approaches that will improve their performance in terms of sales to remain important clients to their auditors.
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T. S., Jimoh,, and Adesina, O. K. "The Impact of Direct Taxes on the Financial Performance of Listed Consumer Goods Firms in Nigeria." African Journal of Accounting and Financial Research 7, no. 3 (2024): 207–14. http://dx.doi.org/10.52589/ajafr-wrphmkc1.
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This study investigates the relationship between direct taxes and the financial performance of listed consumer goods firms in Nigeria. Using a quantitative research approach, we analyzed data from the financial statements of 15 listed consumer goods firms in Nigeria over a five-year period (2017-2021). Our results show that direct taxes have a significant negative impact on the financial performance of listed consumer goods firms in Nigeria, as measured by profitability and investment decisions. Specifically, we found that:. A 1% increase in direct taxes leads to a 0.8% decrease in profitability. A 1% increase in direct taxes leads to a 0.6% decrease in investment decisions. Our findings suggest that policymakers and regulatory bodies should consider reducing direct tax rates to improve the financial performance of listed consumer goods firms in Nigeria.
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Latifat, Abdussalam Abdufatah, Adabenege Yahaya Onipe, Eniola Agbi Samuel, and Olumide Mustapha Lateef. "MEDIATING EFFECT OF FIRM VALUE ON THE RELATIONSHIP BETWEEN DIVIDEND PAYOUT AND GROWTH OPPORTUNITIES OF LISTED CONSUMER GOODS COMPANIES IN NIGERIA." Nigerian Journal of Accounting and Finance 14, no. 2 (2023): 94–117. https://doi.org/10.5281/zenodo.7613345.
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The dynamism of corporate structure and vast expectations of stakeholders has made the study of dividend payout and growth opportunities remain ever relevant. This study investigated the mediating effect of firm value on the relationship between dividend payout and growth opportunities of consumer goods firms in Nigeria. A sample of 16 firms were selected from the population of the study, which consists of 20 consumer goods firms listed on the Nigerian Exchange as of 31st December 2019. The Baron and Kenny approach to mediation analysis using the structural equation model (SEM) was adopted in analyzing the data. The study found that firm value fully mediates the relationship between dividend payout and growth opportunities of consumer goods firms in Nigeria. In consonance with the finding, the study recommends that consumer goods firms should increase their dividend payout in order to increase their firm value and as well increase their growth opportunities.
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Dako, Abeje Joshua, Musa Abdullahi Abdullahi, and Doshiro Musa. "Effect of Ownership Diversity on Financial Stability of Listed Consumer Goods Firms in Nigeria." Journal of Forensic accounting & Fraud Investigation (JFAFI) 10, Issue 1, January - June, 2025 (2025): 49–72. https://doi.org/10.5281/zenodo.15225216.
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Shareholders are always regarded as corporate owners, while directors are agents or representatives of shareholders who are supposed to allocate business resources in a way to increase their wealth. In Nigeria, several issues related to the governance and management of companies have been identified. These problems range from errors and mistakes to outright fraud. The origins of these problems range from concentrated ownership, weak incentives, and poor protection of minority shareholders to weak information standards. This study examines the effect of ownership structure diversity on financial stability of listed consumer goods firms in Nigeria. The study adopts an ex-post facto research design using panel data from ten years, 2014-2023, to examine the effect of independent variables, institutional ownership, ownership concentration and foreign ownership, on the dependent variable, financial stability. The population of the study consist of all consumer goods firms listed on the Nigerian Exchange Limited as of 31st December 2023. In view of this, sixteenth (16) consumer goods firms listed on Nigerian Exchange Limited were selected to represent the sample size for this study using a purposive sampling technique based on the criterion that consumer goods firms must be listed and disclose all the data needed for the study in the annual reports. Secondary data was used, and data was sourced from the audited annual reports and accounts of the sample consumer goods firms. The multiple regression technique was used with the aid of EViews 10 to analyze the data. The findings show that institutional ownership has a negative and insignificant effect on the financial stability of listed consumer goods firms in Nigeria. Ownership concentration and foreign ownership have negative and significant effects on the financial stability of listed consumer goods firms in Nigeria. The study recommends that there is a need to extensively increase institutional shareholding, concentrated shareholding and foreign shareholding of the listed consumer goods firms in Nigeria as not only a way to increase the share of the firms but as a way of encouraging them to increase their efficiency.
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Giwa, Fatima Shehu, Prof Benjamin Kumai Gugong, and Gloria Pam Dachomo. "THE IMPACT OF AUDIT QUALITY ON FIRM’S PERFORMANCE OF LISTED CONSUMER GOODS FIRMS IN NIGERIA." Gusau Journal of Accounting and Finance 5, no. 2 (2024): 19–33. https://doi.org/10.57233/gujaf.v5i2.2.
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Abstract The study examines the relationship between audit quality and firm’s performance of listed consumer goods firms in Nigeria, it used both the agency theory and credibility theory. The data used was extracted from secondary source using the annual reports and accounts of listed consumer goods firms in Nigeria for the period of ten years, 2012 to 2021 from 16 consumer goods firms in Nigeria. Multiple linear regression technique is used to analyze the data, using descriptive statistics, Pearson correlation with the help of STATA, as a statistical tool of analysis. While, return on equity and economic value added were used as measures for firm’s performance. The finding from the study indicates that audit firm independence, joint audit, audit firm experience and audit firm partner tenure all have a positive and significant impact on firm’s performance of listed consumer goods firms in Nigeria, only audit firm reputation indicates a negative impact. Hence, shareholders are advised to ensure that their firms are audited by good audit firms that provides more independent, accurate and efficient audit services.
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SHIYANBOLA, Alice Anese, Chituru Nkechinyere ALU, and Ajiboso Abdullah TIMILEHIN. "Effect of Capital Structure on Growth of Nigerian Quoted Consumer Goods Firms." Archives of Business Research 10, no. 9 (2022): 30–42. http://dx.doi.org/10.14738/abr.109.12980.
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In a bid to responding to market demand, attaining business stability and a decent profit increase, growth has become the quest of all business owners. The study examined capital structure on growth of Nigerian quoted consumer goods firms. The population consisted of 20 Nigerian consumer goods companies as of 31st December 2018 out of which, 10 were selected as the sample size. Descriptive and inferential statistics were used for data analysis. The study revealed capital structure has no significant influence on the revenue growth of Nigerian quoted consumer goods firms (Adj.R2= 0.050510, F(6) = 1.702302, p>0.05); capital structure significantly affects total assets growth of Nigerian quoted consumer goods firms (Adj.R2= 0.073621, F(6) = 3.622586, p<0.05) and there is no significant relationship between capital structure and the earnings growth of Nigerian quoted consumer goods firms (Adj.R2= -0.025329, F(6) = 0.184805, p>0.05). The study found that capital structure has no significant influence on earnings growth and revenue growth but has a significant relationship on total assets growth of Nigerian quoted consumer goods firms. The study recommended that management should increase equity and long-term debts and reduce short-term debts so as to raise firms’ revenue and also have an understanding of the capital structure disclosure and how it affects revenue growth. Regulatory agencies should ensure assets growth disclosure, revenue, and earnings according to the laid down standards in order to enhance growth. This will boost investment in firms and in turn, raise the bar in performance and growth.
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Ibrahim, Rabiu, Yazid Kabir Ibrahim, and Muhammad Sulaiman Hussain. "Environmental Reporting and Financial Performance of Listed Industrial and Consumer Goods Firms in Nigeria." FUDMA Journal of Accounting and Finance Research [FUJAFR] 1, no. 2 (2023): 123–40. http://dx.doi.org/10.33003/fujafr-2023.v1i2.41.123-140.
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This study examines the effect of environmental reporting on financial performance of listed Nigerian industrial and consumer goods firms for the period of ten (10) years from 2012 to 2021. The population of the study comprises forty-two (42) listed industrial and consumer goods firms in Nigeria. Eleven (11) firms were selected as the study sample size, which comprises 5 industrial goods and 6 consumer goods firms. The remaining 31 firms were filtered out, because they did not report their environmental disclosure throughout the period of this study and some were delisted. Return on Asset (ROA) is considered as proxy of financial performance. Secondary data were used and extracted from the firm’s annual reports using environmental reporting Index (ISO 14031) content analysis, provided at appendix A1. In relation to financial performance the data was also collected from the firm’s annual reports. The study analyses were conducted using STATA 13 statistical software. The regression result revealed that environmental information has significant positive effect on return on asset (ROA); employee health and safety have negative significant effect on ROA; product safety has negative significant effect on ROA. Based on these findings, this study therefore, concludes that environmental reporting influence financial performance of listed industrial and consumer goods firms in Nigeria. This study therefore, recommends among others that, listed Nigerian industrial and consumer goods firms should emphasize more on reporting their environmental issues as it is capable of improving their financial performance.
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Coviello, Nicole E., Roderick J. Brodie, Peter J. Danaher, and Wesley J. Johnston. "How Firms Relate to Their Markets: An Empirical Examination of Contemporary Marketing Practices." Journal of Marketing 66, no. 3 (2002): 33–46. http://dx.doi.org/10.1509/jmkg.66.3.33.18500.
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The authors examine 308 firms in the United States and four other Western countries to understand how different types of firms relate to their markets. Comparative analysis shows that though there is some support for consumer and goods firms being more transactional and business and service firms being more relational, there are many exceptions. The results also show that firms can be grouped into those whose marketing practices are predominantly transactional, predominantly relational, or a transactional/relational hybrid. Each group constitutes approximately one-third of the sample and includes all types of firms (consumer goods, consumer services, business-to-business goods, and business-to-business services). This suggests that marketing practices are pluralistic and managerial practice has not shifted from transactional to relational approaches per se.
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Augustine, Oke Okolie, and Elohor Egube Blessing. "Financial Reporting Quality and Shareholders Wealth Maximization of Listed Manufacturing Companies in Nigeria." International Journal of Business Management and Technology 6, no. 4 (2023): 338–52. https://doi.org/10.5281/zenodo.7680083.
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This study examined financial reporting quality and shareholders wealth maximization of listed consumer goods manufacturing companies in Nigeria, from 2011 to 2020. Ten consumer goods manufacturing firms quoted on the Nigeria Stock Exchange were used. Financial reporting quality was measured by discretionary accruals, earnings persistence and earnings smoothening), while shareholders’ wealth maximization was measured by the return on equity. Ordinary Least Square (OLS) regression estimation technique was used with the aid of E-views 9 statistical software. The study found that earnings persistence has a significant and positive impact on shareholders’ wealth maximization in listed consumer good firms in Nigeria while discretionary accruals, earnings smoothing and earnings volatility have negative and significant impact on shareholders’ wealth maximization in listed consumer firms in Nigeria. The study concludes that financial reporting quality has a significant impact on shareholders wealth maximization of listed consumer goods manufacturing companies in Nigeria. The study recommends that consumer goods manufacturing firms in Nigeria should maintain competence in managing shareholders’ equity in order to ensure robust returns
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Akani, Henry Waleru. "Debt Financing and Return on Assets of Quoted Firms in Nigeria." Indiana Journal of Economics and Business Management 4, no. 1 (2024): 1–14. https://doi.org/10.5281/zenodo.10588845.
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This study analyzed the effect of debt financing on return on assets of quoted consumer goods firms in Nigeria. Return on assets was proxy for dependent variable while debt financing was proxied by long-term debt ratio, short-term debt ratio and total-debt ratio by long-term debt ratio, short-term debt ratio and total-debt ratio. The study was anchored on Miller and Modigliani Theory, Pecking Order Theory, Trade-Off Theory, Trade-Off Theory, and Agency Cost Theory. The study adopted both deductive and inductive methods while ex-post facto research design was adopted. The population of this study consisted of all the twenty consumer goods firms quoted on the Nigerian Exchange Group as at December 31st, 2022. The study adopted convenience sampling while the sample size consisted of ten (10) consumer goods firms in Nigeria. Panel data were used and these data were sourced from Nigerian Exchange Group. The data were subsequently analyzed using panel least squares regression technique while p-value was used to test the hypotheses formulated at 5% level of significance. The findings obtained in the study showed that long-term debt ratio has a positive and significant effect on return on asset of quoted consumer good firms in Nigeria, short-term debt ratio has a positive and significant effect on return on asset of quoted consumer good firms in Nigeria while total debt ratio has a positive and significant effect on return on asset of quoted consumer good firms in Nigeria. The study concluded that debt financing contributes positively and significantly to the profitability of quoted consumer goods firms in Nigeria. The study recommended among others that consumer goods firms should implement strong risk management practices to ensure that debt obligations can be met comfortably.
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Udeh, A. I., C. E. Nwoha, and I. M. Okwo. "Effect of Turnover Ratios on the Value of Consumer Goods Firms in Nigeria." Global Journal of Finance and Business Review 5, no. 4 (2022): 1–17. https://doi.org/10.5281/zenodo.7334366.
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<strong>ABSTRACT</strong> <em>The study examined the effect of turnover ratios on the value of consumer goods firms in Nigeria as large number of business failures have been blamed on the inability of the firm managers to successfully use efficiency ratios to analyze, monitor and control the progress and performance of their firms. The ex-post facto research design and multiple regression analysis were adopted. The findings showed that inventory turnover ratio significantly affects earnings per share of consumer goods firms in Nigeria with a t-statistic of 4.074926 and probability value of 0.0006 at 5% level of significance. Assets turnover ratio significantly affects earnings per share of consumer goods firms in Nigeria with a t-statistic of 5.139843 and probability value of 0.0094 at 5% level of significance, It was equally observed that account receivable turnover ratio significantly affects earnings per share of consumer goods firms in Nigeria with a t-statistic of 3.473243 and probability value of 0.0475 at 5% level of significance, the study further discovered that account payable turnover ratio significantly affects earnings per share of consumer goods firms in Nigeria with a t-statistic of 4.410422 and probability value of 0.0050 at 5% level of significance. Based on the findings it was recommended that inventory of the companies should be reduced to avoid obsolete stocks. With effective account receivables and account payables the cashflow of companies will experience tremendous improvement.</em>
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Obiekea, Precious Ogechukwu and Ebiaghan Orits Frank. "AN ASSESSMENT OF THE NEXUS BETWEEN FIRM ATTRIBUTES AND FINANCIAL REPORTING QUALITY IN NIGERIA." International Journal of Applied Research in Social Sciences 5, no. 7 (2023): 177–92. http://dx.doi.org/10.51594/ijarss.v5i7.535.
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This study examines the relationship between the firm attributes and financial reporting quality of listed consumer goods firms in Nigeria. The study employed secondary data retrieved from the published financial records of 12 consumer goods listed firms in Nigeria over a period of 10 years spanning 2012 to 2021. The paper adopted four independent variables as measures of firm attributes which includes firm size (FSIZE), board composition (BSIZE, profitability (PROF) and firm growth (FGROW). On the other hand, the dependent variable which is financial reporting quality was proxy using Modified Jones Model. The dataset were analyzed using the descriptive statistics, diagnostic tests and inferential statistics. The study specified a linear model which was tested using the simple regression analysis as a result of the nature of the study. The findings revealed that board composition and firm growth have significant impact on financial reporting quality of listed consumer goods firms in Nigeria. Again, firm size and profitability have insignificant relationship with financial reporting quality of listed consumer goods firms in Nigeria. The findings indicated that collectively the firm attributes measures examined in this study have significant association with financial reporting quality of listed consumer goods firms in Nigeria. Thus, the study recommended that listed consumer goods firms in Nigeria pay attention to the potential negative impact of firm size and board size on financial reporting quality. Companies should strive to establish effective internal controls, robust reporting mechanisms, and appropriate governance structures to mitigate the adverse effects of these factors.
 Keywords: Firm Attributes, Financial Reporting Quality, Profitability, Firm Growth, Firm Size.
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Obiekea Precious Ogechukwuka and Ebiaghan Orits Frank. "AN ASSESSMENT OF THE NEXUS BETWEEN FIRM ATTRIBUTES AND FINANCIAL REPORTING QUALITY IN NIGERIA." International Journal of Applied Research in Social Sciences 5, no. 7 (2023): 177–92. http://dx.doi.org/10.51594/ijarss.v5i7.540.
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This study examines the relationship between the firm attributes and financial reporting quality of listed consumer goods firms in Nigeria. The study employed secondary data retrieved from the published financial records of 12 consumer goods listed firms in Nigeria over a period of 10 years spanning 2012 to 2021. The paper adopted four independent variables as measures of firm attributes which includes firm size (FSIZE), board composition (BSIZE, profitability (PROF) and firm growth (FGROW). On the other hand, the dependent variable which is financial reporting quality was proxy using Modified Jones Model. The dataset were analyzed using the descriptive statistics, diagnostic tests and inferential statistics. The study specified a linear model which was tested using the simple regression analysis as a result of the nature of the study. The findings revealed that board composition and firm growth have significant impact on financial reporting quality of listed consumer goods firms in Nigeria. Again, firm size and profitability have insignificant relationship with financial reporting quality of listed consumer goods firms in Nigeria. The findings indicated that collectively the firm attributes measures examined in this study have significant association with financial reporting quality of listed consumer goods firms in Nigeria. Thus, the study recommended that listed consumer goods firms in Nigeria pay attention to the potential negative impact of firm size and board size on financial reporting quality. Companies should strive to establish effective internal controls, robust reporting mechanisms, and appropriate governance structures to mitigate the adverse effects of these factors.
 Keywords: Firm Attributes, Financial Reporting Quality, Profitability, Firm Growth, Firm Size.
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Jabar, Adebola Abass, and Israel S. Akinadewo. "Corporate Debt Profile And Financial Performance Of Listed Consumer Goods Firms In Nigeria." Archives of Business Research 11, no. 6 (2023): 1–19. http://dx.doi.org/10.14738/abr.116.14771.
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This study examined the connectivity between corporate debt profile and financial performance of consumer goods firms in Nigeria. The corporate debt profile is captured with short term debt, long term debt and total debt while the outcome variables is capture with earnings per share and Tobin’s Q. Expo-facto design was adopted and covered 16 listed consumer goods firms in Nigeria based on the availability of data spanning from 2011 to 2020. Descriptive statistics were used to describe the variables of the study while the inferential statistics cover Pearson correlation and panel regression (random and fixed effect estimations) to analyze the proposed hypotheses of the study. Firstly, it was discovered that short- and long-term debt profile have a negative insignificant effect on financial performance captured with earnings per share of listed consumer goods firms in Nigeria to the tunes of -4.848905 (p=0.655>0.05) for short term debt and -6.150678 (p=0.785>0.05) for long term debt. Also, it was discovered that total debt profile has a positive significant effect on earnings per share of listed consumer goods firms in Nigeria with the coefficient and probability values of 4.735095 and 0.004 respectively. From the findings of this study, it was concluded that there is a statistical relationship between corporate debt profile and financial performance of listed consumer goods firms in Nigeria. Thus, it was recommended that the management of the listed consumer goods firms should maximize the functions of the risk committee formed to measure the risks involved in debt financing.
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Hussaini, Mukhtar, Ishaya Luka Chechet, Latifat Abdulsalam Abdulfatah, Mohammed Umar Maidugu, and Tijjani Ahmed Yusuf. "Board Diversity and Intellectual Capital Efficiency of Listed Consumer Goods Firms in Nigeria." International Journal of Research and Innovation in Social Science VIII, no. VIII (2024): 522–33. http://dx.doi.org/10.47772/ijriss.2024.808042.
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This study examines the effect of board diversity on the intellectual capital efficiency of listed consumer goods firms in Nigeria. The ex-post facto research design was adopted, and secondary data was extracted from the annual reports of the listed consumer goods firms in Nigeria. The population of the study consists of twenty-one (21) companies and the sample size consists of seventeen (17) companies arrived at using filtering technique. The study covers a period of 10 years from 2013 to 2022. Multiple regression analysis was employed in analyzing the data collected. Findings revealed that the presence of female directors positively but insignificantly affect the intellectual capital efficiency of listed consumer goods firms in Nigeria. Board nationality has been found to have negative and significant effect on intellectual capital efficiency of listed consumer goods firms in Nigeria. Conversely, board financial expertise shows a positive and significant effect on intellectual capital efficiency of the listed consumer goods firms in Nigeria. The study concludes that board gender diversity and board nationality does not necessarily lead to effective intellectual capital efficiency. The study further concludes that the cost-conscious and professionalism of directors with financially related professional training may effectively improve the intellectual capital utilization of consumer goods companies. The study recommends a holistic approach to appointment of board of directors that goes beyond mere gender diversity and nationality. The study further recommends considering the diverse skills of certified financial experts in appointing board of directors.
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Ajakpo, (Anetoh) Vivian Chioma (Ph.D), Rita Njideka (Ph.D) Chiekezie, and John Chidume (Ph.D) Anetoh. "Threat of Bankruptcy and Earnings Management of Listed Consumer Goods Firms in Nigeria." International Journal of Advanced Academic Research 10, no. 9 (2024): 55–71. https://doi.org/10.5281/zenodo.13927812.
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<em>This study investigated the relationship between threat of bankruptcy and earnings management of listed consumer goods firms in Nigeria from 2017-2023. Specifically, the study investigated the extent of the relationship between the study variables (z-score, firm size, leverage as well as firm performance) and earnings management of listed consumer goods firms in Nigeria. Four research questions as well as four hypotheses were raised in order to achieve the objectives of this research work. The research adopted an ex-post facto research design method. Multiple regression analysis using ordinary least square statistical technique was used to test the four hypotheses formulated to guide the study. Secondary data were used in this study which was sourced from Nigerian Stock Exchange fact books and from the financial statements of the eleven selected consumer goods firms under review. The findings revealed that threat of bankruptcy measured using the z-score has no significant relationship with earnings management of listed consumer goods firms in Nigeria. The study has contributed immensely and has offered many benefits to major stakeholders in consumer goods sector especially in formulating path-breaking policies and high-impact strategies that will address bankruptcy risks in Nigeria. This study is expected to assist the investors and creditors by providing information on how to address bankruptcy risk issues. The study is expected to sustain and boost the financial capability and credit worthiness of consumer goods firms in Nigeria.</em>
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Abada, Uchechukwu Daniel (Ph.D. ACIB ANIM), Emmanuel Onyeka Ejiofor, and Sebastine Chibunna PhD Anumege. "Effect of Corporate Social Responsibility on Price Earnings Ratio of Consumer Goods Firms in Nigeria." International Journal of Advance Study and Research Work 4, no. 2 (2021): 01–07. https://doi.org/10.5281/zenodo.4520144.
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<strong><em>This study determined the effect of the price-earnings ratio on corporate social responsibility of consumer good firms in Nigeria. The specific objective was to evaluate corporate social responsibility's influence on consumer goods firms' price-earnings ratio in Nigeria. The study adopted the Stakeholders theory as a theoretical framework. The study employed simple linear regression using panel data analysis to determine the influence of price-earnings ratio to CSR of consumer good firms for the period 2008-2017. The study results showed that corporate social responsibility has a significant and positive effect on the price-earnings ratio, while size has an insignificant effect on the sampled consumer goods firms in Nigeria. The recommendation regarding this study is that firms should engage in CSR activities to improve their image, goodwill, and profitability.</em></strong>
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Onoyenure George (MSC Canadidacy) and Ebiaghan Orits Frank, PhD. "AN ASSESSMENT OF THE DETERMINANTS OF EARNINGS MANAGEMENT IN NIGERIA." International Journal of Management & Entrepreneurship Research 5, no. 9 (2023): 681–94. http://dx.doi.org/10.51594/ijmer.v5i9.550.
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This study is based on the assessment of Tax Aggressiveness, Share Price, Return on Assets as determinants of Earnings Management among quoted industrial and consumer goods sectors in Nigeria between the periods of 2012-2022. A sample of thirty-two (32) firms were drawn out of the listed non-financial firms in Nigeria. The study was quantitative in nature and made use of secondary data which was sourced from the Nigerian Stock Exchange (NSE) factbook, National Bureau of Statistics, and annual reports of selected industrial and consumer goods firms. Descriptive statistics and correlation analysis was used to determine the nature of the data as well as the relationship between the independent and dependent variables. The pooled panel regression analysis, the Hausman test and the random effect model (REM) method of model estimation employed was used in the study. The findings revealed that share price and return on assets are the primary determinants that significantly affect the earnings management of publicly traded companies in the industrial and consumer goods sectors during the observed timeframe. Moreover, firm size is perceived as a significant control factor in determining earnings management. Tax aggressiveness on the other hand showed no significant impact on earnings management. Based on the findings the study recommended that Projects that enhance the firms' profitability should be at the center of the investment objective of managers overseeing industrial and consumer goods firms that are publicly traded. In addition, projects with favourable net present values should be embarked on by managers of industrial and consumer goods firms listed on the stock exchange. Furthermore, cutting edge earnings management strategies should be adopted by managers of industrial and consumer goods firms that are publicly traded. They can as well prioritize the utilization of tax aggressiveness.
 Keywords: Earnings Management, Tax Aggressiveness, Share Price, Return on Assets, Hausman Test.
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Osayantin AIFUWA, Hope, Saidu MUSA, Nusirat Ojuolape GOLD, and Muhammed Kamaldeen USMAN. "BOARD COGNITIVE DIVERSITY AND FIRM PERFORMANCE NEXUS: EVIDENCE FROM NIGERIA." International Journal of Management, Innovation & Entrepreneurial Research 6, no. 2 (2020): 88–99. http://dx.doi.org/10.18510/ijmier.2020.629.
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Purpose of the study: This study examined the influence of board cognitive diversity on firm performance in Nigeria. The researchers investigated consumer goods firms listed in the Nigeria Stock Exchange from 2013 to 2018.
 Methodology: This research is hinged on the positivist research philosophy; and the deductive research approach. The study adopted the multi-method quantitative research design. Data was hand-collected from the annual financial statements and firms’ websites of consumer goods firms. The researchers measured board cognitive diversity by educational level diversity, education background diversity, and professional member diversity; while performance was measured via financial performance (ROA) and market performance (Tobin's Q). Panel least squares were used to estimate the model of the study.
 Main Findings: Results from the panel least squares regression revealed mixed findings on the nexus between the proxies of board cognitive diversity and firm performance in Nigeria. Specifically, we found that education level diversity and professional member diversity of board members positively and significantly affects market performance. In contrast, the educational background diversity of the board negatively and significantly affects the market performance of consumer goods firms in Nigeria. Furthermore, we found no evidence on the nexus between educational level diversity; educational background diversity; professional membership diversity of board members, and financial performance of firms investigated.
 Implications/Applications: The researchers concluded that board cognitive diversity partially influences firm performance in Nigeria. The study recommended that firms in Nigeria, specifically consumer goods firms, should encourage more representation of board directors with a postgraduate degree. This is because they have advanced knowledge and expertise to improve the firm's performance.
 Novelty/Originality of this study: This is pioneer research to investigate the influence of board cognitive diversity on firm performance in Nigeria.
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OKEREKE, Livinus C., Hyginus C. ANYANWU, and Kingsley O. NWAIGBURU. "Influence of Firm size on Audit Quality and Earnings Management Relationship: Evidence from Listed Manufacturing Firms in Nigeria." Journal of Accounting and Financial Management 8, no. 7 (2023): 163–79. http://dx.doi.org/10.56201/jafm.v8.no7.2022.pg163.179.
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The study investigated the influence of Firm size on the relationship between Audit quality and Earnings Management of listed Consumer Goods Manufacturing firms in Nigeria. This study tested a number of audit quality indicators (auditor’s tenure, Audit firm size and joint audit) and earnings management proxies that is (earnings restatement and discretionary accruals), using 26 listed consumer-goods manufacturing firms as the study population. Secondary data were extracted from the annual report of 13 listed consumer-goods manufacturing firms while judgmental sample from the population, covering the study period from 2012 to 2018 using historical data were adopted. The data were tested through the use of Univariate, Bivariate and Multivariate analysis. Univariate/descriptive, Bivariate, Pearson Product Moment Correlation (PPMC) techniques by use of E-view 10 Econometric software and Multivariate – regression model. The findings of the study showed that firm size variability does not influence every aspect of the Firm's attributes. Some aspects of Firms' characteristics are influenced by the size of the Firm whereas some other aspects do not respond to size variability. As was indicated by the Firm size analyses, earnings restatement of consumer-goods manufacturing firms does not respond to Firm size attribute while their discretionary accrual practices significantly depend on their size attributes. The study concludes that firm size is a significant moderator between the use of audit quality and earnings management, however it depends of the variable of earnings management used. In the light of these, it is the recommendation of this study that to ensure positive significant relationship with earnings management, the firms should voluntary engage two audit firms in all to other to allow for effective comparison, so that hidden information in financial statement could be dictated or revealed; the total assets as a dimension of firm size should be r
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Huang, Yufeng. "Tied Goods and Consumer Switching Costs." Marketing Science 41, no. 1 (2022): 93–114. http://dx.doi.org/10.1287/mksc.2021.1312.
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Agboola, Obafunso, Rahmon, and Saifullahi Mazadu Abdullahi. "Impact of capital structure on financial performance of listed consumer goods firms in Nigeria." Impressive Journal of Management and Social Sciences 1, no. 1 (2025): 13–126. https://doi.org/10.33003/ijmass-2025.v1i1.13.13-126.
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The main objective of the study is to investigate the impact of capital structure on the financial performance of listed consumer goods firms in Nigeria. The study adopted Expost-facto research design and extracted data from secondary source. A quantitative approach was employed for data analysis to analyze data sourced and drawing a sample of 12 using a stratified sampling technique through filtering criteria, out of the population of 21 listed consumer goods firms on the Nigerian Exchange Group PLC's Data Fact Sheet. The study covered a 10-year period (2014-2023). The study concludes that Short Term Debt Ratio (STDR) has a significant negative relationship with the return on capital employed for consumer goods firms in Nigeria, while Long Term Debt Ratio (LTDR), Leverage Ratio (LEVR), and Profitability Ratio (PR) have an insignificant negative association with the return on capital employed. The study recommends that the sampled firms should reduce reliance on short-term debt which may lead to improved financial performance. Firms should assess their capital structure to find an optimal balance of long-term debt, as its influence on performance was not significant in this study, firms should limit short-term debt levels and explore cost-effective, longer-term financing, firms should nonetheless monitor leverage ratios to ensure they remain within manageable levels, and firms can enhance their proprietary ratios by retaining profits or improving operational efficiency to strengthen the firm's equity base.
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Soyege, O. O., G. O. Makinde, and B. H. Akinlabi. "Green Supply Chain Management and Organizational Performance of Fast-Moving Consumer Goods Firms in Lagos Nigeria." International Journal of Entrepreneurship 6, no. 2 (2023): 1–20. http://dx.doi.org/10.47672/ije.1517.
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Purpose: The fast-moving consumer goods firms plays a vital role in the microeconomic and macroeconomic sectored of every economy. However, these organisations are accused of polluting the environment and engaging in practices that are not sustainable. The firms have performed below expectations attributable to non-compliance with green supply management such as green procurement, green distribution, green warehousing, materials management and reverse logistics. This study therefore investigated the effect of green supply chain management on the performance of fast-moving consumer goods in Lagos State, Nigeria.
 Methodology: The study adopted a survey research design. The population of the study was 418 middle and top-level management staff from selected quoted fast-moving consumer goods firms in Lagos State, Nigeria. The study adopted the total enumeration method. Data was collected using a valid and reliable questionnaire with a Cronbach’s alpha coefficients ranging from 0.700 to 0.892. The response rate was 100%. Data were analysed using both descriptive and inferential statistics (Multiple regression analysis).
 Findings: Findings revealed that green supply chain management had positive and significant effect on the performance of selected fast-moving consumer goods companies in Lagos State, Nigeria (Adj. R2 = 0.482, F (5, 407) = 77.600, p < 0.05). The study concluded that green supply chain management practices enhanced organisational performance of selected fast-moving consumer goods companies in Lagos State, Nigeria.
 Recommendations: The study therefore recommended that management of fast-moving consumer goods firms in Nigeria should prioritise the implementation of green procurement, green warehousing, material management, and reverse logistics practices to enhance their overall performance. Also, the management of consumer goods firms in Lagos State should concentrate on optimising their material management processes, such as inventory control, demand forecasting, and supplier collaboration.
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C. A., Dorathy, Patrick E. A., and Precious E. I. "Effect of Environmental Disclosure on Cost of Equity of Listed Consumer Goods Firms in Nigeria." African Journal of Accounting and Financial Research 7, no. 2 (2024): 1–15. http://dx.doi.org/10.52589/ajafr-dqge5931.
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As concerns about climate change, pollution and resource scarcity intensifies, stakeholders are placing greater emphasis on the environmental practices of organisations. Based on this, the study examined the effect of environmental disclosure on the cost of equity of listed consumer goods firms in Nigeria. Ex-post facto research design was adopted, and panel data covering ten (10) years (2013-2022) were collected across eighteen (18) listed consumer goods firms in Nigeria which formed the sample size of the study. The data collected were analysed using panel multiple regression analysis via E-views 10.0 statistical package. The study findings revealed environmental risk disclosure (Coeff. = -0.0269{0.0107}) and waste management disclosure (Coeff. = -0.0178{0.0009}) have significant negative relationships on cost of equity (COE) of listed consumer goods firms in Nigeria while greenhouse gas emission disclosure (GGED) has an insignificant negative effect (Coeff. = -0.0075{0.3966}) on cost of equity (COE) of listed consumer goods firms in Nigeria. It was thus concluded that environmental accounting disclosure plays a crucial and significant role in shaping the cost of equity of listed consumer goods firms in Nigeria. The study recommended, amongst others, that regulatory bodies and industry associations should advocate for the integration of robust waste management disclosure strategies within corporate reporting frameworks to mitigate environmental impact and promote sustainable business practices.
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A., Anisulowo, Temitope, Sofayo, Abiola A., Anthony, Boluwatife O., Sanni, Christian O., Onasanya, Olalekan S., and Adeleke, Adebisi M. "Sustainable Supply Chain Management Practices and Financial Sustainability of Listed Consumer Goods Firm in Nigeria." Asian Journal of Economics, Business and Accounting 24, no. 10 (2024): 142–60. http://dx.doi.org/10.9734/ajeba/2024/v24i101519.
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Purpose: The significance of sustainable supply chain management practice to the financial sustainability necessitated this study which aimed to evaluate the effects of sustainable supply chain management practices on financial sustainability of listed consumer goods firms in Nigeria. In the course of the study, the primary objectives of the study were to determine the effect of supplier relationship management on the financial sustainability of listed consumer goods firms in Nigeria and to evaluate the effect of lean supply chain practices on the financial sustainability of listed consumer goods firms in Nigeria. Methodology: The population of this study comprised of all the twenty-one (21) listed consumer goods firms under Nigerian Exchange Group (NGX). The sample for this study comprised of forty (40) respondents selected from each of the three chosen consumer goods companies, totaling One hundred and twenty (120) respondents. The study adopted both purposive and stratified random sampling techniques. Primary data was collected through electronic questionnaires distributed via Google Forms. Descriptive statistical tools, including measures of central tendency such as mean, and measures of variability such as standard deviation, was employed for data analysis. Findings: The result of the analysis reveal that: (i) with the result of hypothesis one; the results revealed that F-statistics stands at 3.478 with a p-value < than 0.05 at 0.033. This implies that the positive effect of supplier relationship management on financial sustainability of listed consumer gods firms is significant. (ii) For hypotheses two, the results revealed that F-statistics stands at 3.133 with a p-value < than 0.05 at 0.04. This implies that the positive effect of lean supply chain practices on financial sustainability of listed consumer gods firms is significant. Originality/ Value: No research was found regarding the sustainable supply chain management practices and financial sustainability during the time period of 2024. Conclusion and Recommendations: The study concluded that sustainable supply chain management practices enhance financial sustainability of consumer goods firms in Nigeria. The study recommended that firms should prioritize building strong relationships with suppliers, integrate sustainability considerations into their operations, implement lean supply chain practices, strengthen internal controls to mitigate fraud risk, invest in employee training, foster collaboration and knowledge sharing, and regularly monitor and evaluate performance.
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AKPOVETA Onajite Alexandra, Dr. Sunny, I. AGBOR, and Associate Prof. Mary JOSIAH. "VALUE RELEVANCE OF ENVIRONMENTAL SUSTAINABILITY REPORTING: EVIDENCE FROM LISTED CONSUMER GOODS FIRMS IN NIGERIA AND GHANA." International Journal of Applied Research in Social Sciences 5, no. 8 (2023): 283–91. http://dx.doi.org/10.51594/ijarss.v5i8.578.
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With the continuous rise in global warming, preparers of accounting reports are seeking for more environmentally responsive firms. As such, for such firms to be more value relevant, they must be environmentally responsive. Succinctly, the paper examined the value relevance of environmental sustainability reporting of listed consumer goods firms in Nigeria and Ghana. The various environmental sustainability proxies considered are: Gas flaring emission, energy consumption, and environmental review while value relevance was measured by market value. The study adopted the longitudinal research design. The study sourced data from 13 consumer goods firms in Nigeria out of the 21 consumer goods firms recorded as at 31st of December, 2022 and 7 consumer goods firms in Ghana out of the 10 consumer goods firms recorded as at 31st of December, 2022. The data spanned from 2013 to 2021 as stated in the Global Reporting Initiative (GRI). The study thus reported that, GAS flaring emission (coef. =0.310598 & p-value=0.0000, & energy consumption (Coef=0.450582; & p-value=) 0.0209 both exerted positive significant effect on market value (MAV). However, environmental review (Coef.=0.011167; & p-value =0.7019) is still not value relevant. Hence, the paper concludes that, GAS flaring emission and energy consumption are value additive. Consequently, adequate laws should be put in place to compel oil firms to invest more on disclosure of the volumes of gas emission into the ozone layer. Lastly, all commitments aimed at preserving the natural environment must be properly documented in the financial statement by way of environmental disclosure.
 Keywords: Value Relevance, Environmental Sustainability Performance, environmentally Responsive, Gas Flaring Emission.
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Oshim, Judethadeus Chukwuebuka, Ifeyinwa Elizabeth Nnajieze, and Alex O. Igwe. "Effect of Earnings Measurement on Stock Price of Consumer Goods Firms in Nigeria." European Journal of Business and Innovation Research 11, no. 6 (2023): 54–69. http://dx.doi.org/10.37745/ejbir.2013/vol11n65469.
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The study evaluated the effect of earnings measurements on the share price of consumer goods firms in Nigeria. The objectives of the study were to ascertain the effect of earnings per share, dividend per share, return on asset on share price of consumer goods firms in Nigeria. The study adopted an ex-post-facto research design, covering the period between 2012 and 2021. Secondary data were extracted from the annual reports and accounts of the sampled consumer goods firms in Nigeria. A multiple regression technique was used for the data analysis. From the analysis of the study, it was revealed that earnings per share and dividend per share has a positive and significant effect on the share price of consumer goods firms in Nigeria. Return on assets has a positive and nonsignificant effect on the share price of consumer goods firms in Nigeria. This implies that that earnings per share and dividend per share are the major determinants of share price. It was recommended therefore that consumer goods firms in Nigeria should strive to increase their earnings per share by ensuring that high profits are maintained so that the demands for their share price will continue to increase, which in turn cause a significant rise in their share price. They should strive to increase their dividend per share by ensuring that high revenue and profits are maintained. They should also balance the trade-off between dividend payout and retained earnings so that the demands for their share price will continue to increase, which in turn cause a significant rise in their quotation price. They should strive to make consistent profit to ensure that the return on asset of these companies continued to increase significantly.
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K.S., Williams, Onmonya L., and Ebire K. "Corporate Tax and Financial Performance: Evidence from Listed Consumer Goods Firms in Nigeria." African Journal of Accounting and Financial Research 6, no. 2 (2023): 44–54. http://dx.doi.org/10.52589/ajafr-f1wxfxu3.
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The study examined the effect of corporate tax on the financial performance of Nigerian listed consumer goods companies from 2011 to 2021. A sample of sixteen (16) consumer goods firms was used for the study. Secondary data source was generated from the annual reports of the selected firms. The random effect panel regression results revealed that company income tax negatively affects financial performance. The study also revealed that education tax has a significant positive effect on financial performance. While Value Added Tax (VAT) has a significant negative effect on financial performance. In conclusion, corporate tax has a statistically significant effect on the financial performance of consumer goods firms in Nigeria. Based on these findings, the study recommends that to leave enough net income in the hands of the listed consumer goods companies, the federal government should offer more tax exemptions that will lower company income tax payments.
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Opeyemi, Surajudeen, Baffa Aisha, and Onipe Adabenege Yahaya. "EFFECT OF BOARD INDEPENDENCE AND SIZE ON FINANCIAL DISTRESS OF LISTED CONSUMER GOODS FIRMS IN NIGERIA." Journal of Accounting Research 51, no. 2 (2025): 1–14. https://doi.org/10.5281/zenodo.15311173.
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This study examined the effect of board independence and size on the financial distress of listed consumer goods firms in Nigeria for fifteen years (2009–2023). Published annual reports were used as secondary data from the sampled firms. The population consists of 13 consumer goods firms listed on the Nigerian Exchange as of 31<sup>st </sup>December 2023, and the sample size was made up of 13 consumer goods firms having the required data. Atman’s Z-score was used to measure FD. The study adopted the multiple regression technique in analyzing the data extracted. The study concluded that board size and board independence show significant effects on the financial distress of listed consumer goods firms in Nigeria. Based on these findings, this study recommends that the presence of independent directors on the board should be encouraged, as they will enhance monitoring mechanisms and reduce the propensity to likelihood of financial distress. Additionally, the board size is recommended to be sizable enough to have good management skills and different experiences to develop and perform the leading role and responsibilities to achieve effective governance.
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OKORO, Cyprian Okey, Vincent EZEABASILI, and Udoka Bernard ALAJEKWU. "ANALYSIS OF THE DETERMINANTS OF DIVIDEND PAYOUT OF CONSUMER GOODS FIRMS IN NIGERIA." Annals of Spiru Haret University. Economic Series 18, no. 1 (2018): 141–65. http://dx.doi.org/10.26458/1816.
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The study examines determinants of dividend payout of consumer goods firms listed on the Nigerian Stock Exchange. The Nigerian Stock Exchange has 28 listed consumer goods firms. Purposive sampling technique was used and a sample of 9 consumer goods firms for duration of ten years from 2006 to 2015 was selected. Secondary data was collected from audited financial statements of the companies from the websites of the selected firms. Dividend payout ratio was the dependent variable while independent variables were market value, profitability, financial leverage, firm size and previous year dividend payout. Descriptive statistics and multiple regressions were used. Results showed that firm market value has significant positive effect on dividend payout; firm profitability has positive but insignificant effect on dividend payout; firm leverage has negative and insignificant effect on dividend payout; firm size has negative and insignificant effect on dividend payout; and previous year’s dividend has significant positive effect on dividend payout. The study thus concluded that market value and previous year’s dividend are the major determinants of dividend payout in consumer goods sector in Nigeria.