Creative Accounting and Financial Performance of Quoted Nigerian Manufacturing Companies
Keywords:
Creative Accounting, Financial Performance, Manufacturing Companies, Corporate Governance, Nigeria.
Abstract
This study investigated creative accounting and financial performance of listed manufacturing firms in Nigeria from 2011-2021 using stacked data from annual financial statement of quoted manufacturing companies. Data for the study were obtained from secondary sources and analysed using Eview9 statistical package namely: Unit root test, Panel Cointegration test; Bayesian error correction model, panel OLS and Granger causality test among others. Data for the work were drawn with purposive sampling techniques from samples of 651 observations Nigeria stock exchange statistical Bulletins. The R-square shows explanation proxies and of the variance of the criterion variable is explained by the predictor variable. Which shows how well fitted the regression is based on the unique theoretical combinations of variables. While the remaining 56% is captured by other variables not included in the model i.e. the error term. The study rejects the null hypothesis and observes that there is significant (short-run and long-run) relationship between employed variables but in favour with on innovation accounting for transformation of the organisational setting into the betterment of rapid growth and productivity. The Granger Causality test shown from the results indicates there are four uni-directional and one bi-directional causality among the variables. Thus, there are correlations between the variables so as to predict the future trend. In conclusion, it can be notices that with the exception of DAC and RPT exhibited a positive coefficient and movement towards the criterion variable, financial performance i.e. ROA, which corroborates the a-priori expectation. We therefore recommend among others that Nigeria quoted firms should continue to train and re-train their staffs in order to refresh their knowledge on appropriate application of creativity accounting for the preparation and presentation of financial statements to boost their return on equity, asset and earnings.
Downloads
Download data is not yet available.
References
Adeniyi, A. A. (2004). An insight into management accounting, Lagos. value analysis consult.
Aguolu, O. (2006). Ethics and integrity in the accounting profession. Nigerian Accountants, 41(3), 54-59.
Ahmad, W (2012).Off-balance sheet risk: evidence from Malaysian Islamic and conventional banks. The Journal of Muamalatand Islamic Finance Research,9 (4),125 142
Ajogwu, F. (2014). Driving the telecoms industry growth through corporate governance. A paper prepared presented at the Nigerian Communication Commission Presentation of the Code of Corporate Governance to the Telecommunications Industry, Eko Hotel, Lagos, July 2014
Akenbor, C.O. &Ibanichula, E.A.L. (2012). Creating accounting practices in Nigeria banks. An International Multidisciplinary Journal, Ethiopia, 6(3), 23-41.
Akintoye, I.R. (2008). Sensitivity of performance to capital structure. European Journal of Social Sciences, 7(1), 1-18.
Al-Awawdeh, H. & Al-Sakini, S. (2017). Off-balance items and their impact on the financial performance standards of the banks: An empirical study on the commercial banks of Jordan. International Business and Management, 15(2), 40-54.
Amat, O. &Gowthorpe, C. (2004). Creative accounting: nature, incidence and ethical issues. Journal of Business Ethics, 57(4), 55-64.
Audax, A. (2018). Factors affecting financial performance of manufacturing firms listed in Nairobi securities exchange, Kenya. Retrieved from http://erepo.usiu.ac.ke/botstream/handle/117323952/ANTHA%20AUDAX%20AUDAX%20MBA%202018.pdf?sequence.
Auronen, L. (2003). Asymmetric information: Theory and application, Helsinki University of Technology. Retrieved from
Azim, F, Mustapa Z.M, &Zainir, F (2018). The effects of corporate governance and related party transactions on firm performance among Pakistani family-owned firms. ArabianJournal of Business, 7(2),9-31
Balacia, O. (2008). Is creative accounting a form of manipulation? Fainter. Oradea Bonci. Contabiliate Tom, 3(17), 4-24.
Banafa, A., Muturi, W. & Ngugi, K. (2015). The. impact of leverage on financial firm in Kenya. International Journal of Finance and Accounting, 4(7), 1-20.
Bankole, K.O., Ukolobi, I.O. &McDubus, O.F. (2018). Creative accounting practices and shareholders’ wealth. International Accounting and Taxation Review, 2(4), 58-74.
Bansal, S &Thenmozhi, M (2018). Does concentrated founder ownership affect related party transactions? evidence from emerging economy. Retrieved from http://efmaefm.org/Oefmameetings/efma%20annual%20meetings/2018-Milan/papers/EFMA 2018_0427_fullpaper.pdf.
Beerbaum,D&Piechocki, M (2017). Related party transactions-empirical study based on IFRS and SEC disclosure. Retrieved https://www.researchgate.net/publication/319914398
Berzkalne, I. &Zelgalve, E. (2014).Returnon equity and company characteristics: An empirical study of industries in Latvia, the 8th international days of statistics and economics, Prague.
Bhargava, V. &Khaneja, S. (2017). A comprehensive review of literature on creative accounting. International Journal of Business Insights and Transformation, 10(1), 1-20.
Bhasin, M.L (2015). Creative accounting practices in the hidden corporate sector: an empirical study. International Journal of Management Sciences and Business Research, 4(10), 35-52
Bianchi, M., Ciavarella, A., Enriques, I., Novembre, V &Signretti, R (2014). Regulation and self regukation of related party transactions in Italy. Retrieved from https://www consob.it/document/46180/wp7sen.pdf/8ed60976-dd94-4adb-abbd-95f4a4470fe3
Bird, R. B., & Smith, E. A. (2005). Signalling theory, strategic interaction, and symbolic capital. Current Anthropology, 46: 221-248.
Costae, V. (2006). Determinants of corporate financial performance. Electronic Journal, 1(1), 123-135.
Deloof, M. (2003). Does working capital management affect profitability of Belgium firms? Journal of Business and Accounting, 30(4), 20-48.
Donaldson, T. & Preston (1995). The stakeholders’ theory of the corporations, concepts, evidence and implications. Academy of Management Review, 20(1),65-91.
Duvan, B.O. &Yurtoglu, H. (2004). Determinants of bank provisions: Evidence from Turkey. Journal of Economic Cooperation, 25(4), 105.120.
Egolum, A. A. Ugonabe, L.S. &Okenenwa, N.K. (2021). Corporate governance determinants of financial statement fraud likelihood: evidence from quoted internal licensed banks in Nigeria. International Journal of Academic Management Science Research, 5(4), 62-70
Elbadry, A., Gounopoulos, D. & Skinner, F. (2010). Governance quality and information alignment. Retrieved from http://www.mfsociety.org/
Elmagrhi, M. H., Ntim, C. G., Crossley, R. M., Malagila, J. K., Fosu, S., & Vu, T. V. (2017). Corporate governance and dividend pay-out policy in UK listed SMEs: The effects of corporate board characteristics. International Journal of Accounting & Information Management, 25(4), 459-483
Freeman, E., Harrison, J., Hicks, A., Parmar, B. & Colle, S. (2010). Stakeholder theory: The state of the art, Cambridge University Press, New York.
Gadawska, J. (2011). Effects of provisions on the valuation of a company. Equilibrium Journal, 6(2), 110-121.
Ge, W. (2006). Off-balance sheet activities earnings persistence and stock prices: evidence from operating leases. Retrieved from https://w4.stem.nyu.edu/accounting/docs/speaker_papers/spring2006/off_balance_sheet.pdf.
General Accounting Office (2003). Financial statement restatement database. (Report no. GA0-03-395k). Washington, DC. US Government Printing Office.
Ghaia, E.D. & Al-Ammar, R. (2018). Determinants of financial performance of non-financial sector: Evidence from public textile sector of Syria. International Journal of Advanced Research, 6(7), 167-178.
Gordon, E.A., Henry, E. &Pahi, D. (2004). Related party transactions: Association with corporate and firm value. Working paper. Retrieved from https://esrn.com/paper=558983
Hill, L.W.L. & Jones, T.M. (1992). Stakeholder agency theory. Journal of Management Studies, 29(6), 131-154.
Horngren, C.T., Harvison, W.T. &Ohier, M.S. (2009). Accounting upper saddle river.
Idris, A.A., Khinde, J.S., Ajemunigbohun, S.S. & Gabriel, J.M.O. (2012).The nature, techniques and prevention of creative accounting empirical evidence from Nigeria. Canadian Journal of Accounting and Finance, 1(1), 26-31.
Ijeoma, N. B (2014). The effect of creative accounting on the Nigerian banking industry. International Journal of Management Studies and Research, 2(10), 13-21
Jensen, M. & Meckling, W. (1976). Theory of the firm: Managerial behaviour, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
Jones, M. (2011). Creative accounting, trend and international scandals. John Willey and Sons, Chichester, England.
Jones, T., Wicks, A., & Freeman, R.E. (2002). Stakeholder theory: the state of the art, N. Bowde ed. The Blackwell Guide in Business Ethics, Blackwell Publishing, Oxford, U.K
Kertarajasa, A. Y., Marwa, T., &Wahyudi, T. (2019). The effect of competence, experience, independence, due professional care, and auditor integrity on audit quality with auditor ethics as moderating variable.Journal of Accounting, Auditing & Finance, 30(1), 101-121.
Khan, M.K., Nouman, M.S & Imran, M.K. (2015).Determinants of financial performance of financial sectors: An assessment through economic value added. Retrieved from https://impra.ub.unimillenchen.de/81659/
Liandu, N. (2004). Earnings management: Why worry about it? Retrieved from https://www.accaglobal/publications/studendentaccounting/12/030206
Lucian, L. Delia, D., Cristina, N. & Cosmin, G.B. (2016).Empirical study on the creative accounting phenomenon. Studia Universitatis Economics Series, 26(2), 63-87.
Maduagufor, U. (2008). Stock market news. Retrieved from https://www.stockmarketnigeria.com
Mance, D. &Katunar, H. (2012). Influences on, and consequences of accounting policy choices. Retrieved from
Matar, A. &Eneizean, B.M. (2018). Determinants of financial performance in the industrial firms: Evidence from Jordan. Asian Journal of Agricultural Extension, Economics and Sociology, 22(1), 1-10.
McTague, E.P. (2013). Off-balance sheet accounting by leases and current proposals to end it. American International Journal of Contemporary Research, 3(10), 33-36.
McWilliam, H. & Siegel, T. (2010). Econometric analysis of panel data. John Wiley & Sons, Chichester.
Mehdi, M., Sahut, J. M., &Teulon, F. (2017). Do corporate governance and ownership structure impact dividend policy in emerging market during financial crisis? Journal of applied accounting research 3(1), 18-31.
Michael, N.B. (2012). Capital structure determinants of quoted firms in Nigeria and lessons for corporate financing decision, Journal of Finance and Investment Analysis, 1 (2), 61-81
Mogonta, K. &Pandowo, M (2016). Analysing the effect of return on assets, return on equity and earnings per share on market share price: A study of LQ-45 mining companies listed on Indonesia stock exchange. Journal Emba, 4(2), 703-713.
Munir, S., Saleh, M.N., Jaffar, R. & Yatim, P. (2013). Family ownership, related party transactions and earnings quality. Asian Academy of Management Journal of Accounting and Finance, 9(1), 129-153.
Narware, P.C. (2010). Working capital management: The effect of market valuatiofn and profitability in Malaysia. International Journal of Business and Management, 5(11), 10-25.
Naz, F. (2016). Financial performance of firms: Evidence from Pakistan cement industry. Journal of Teaching and Education, 5(1), 81-94.
NewJessey,Pearson.https://bib.irb.hr/datoteka/518772.mance.katunar_influences_on_and_c nsequenceshttps://pdf.semanticschola.org/cdc110d48cfa54659f309620d51240f09cfiacc.pd.
Nkomani, S. (2013). Corporate social responsibility and financial performance. The Johannesbury stock exchange top 100, University of Pretoria.
Ogwo, E. O, &Agu, G. A, (2016). Transport infrastructure, manufacturing sector performance and the growth of gross domestic product in Nigeria, (1999-2011). Journal of Business and African Economy 2(1), 1-21.
Okoro, E. G, &Jeroh, E (2016). Does related party transactions affect financial performance of firms in Nigeria? evidence from publicly quoted firms. Business Trends, 6(2), 47-53
Okoro, G.E. &Jeroh, E. (2016).Does related party transactions affect financial performance of firms in Nigeria? Evidence from publicly quoted firms. Business Trends, 6(2), 47-53.
Oluwagbuyi, O.C. &Olowolajj, M. (2013). Incessant financial scandals in the corporate organizations in Nigeria: Auditors’ culpability. Research Journal of Finance and Accounting, 4(9), 1-16.
Omondi, M.M. & Muturi, W. (2013). Factors affecting the financial performance of listed companies at the Nairobi security exchange in Kenya. Research Journal of Finance and Accounting, .4(15), 99-104.
Onuaha, K.C. (2010). The electricity industry in Nigeria: what are the challenges and options available to improve the sector? centre for energy, petroleum and mineral law and policy: University of Dundee.
Onyekwelu, U.L., Nnadi, C.S.O. &Lyidiobi, F.F. (2018). Evaluation of firms’ corporate financial indicators and operational performance of selected firm in Nigeria. Research Journal of Finance and Accounting, 9(4), 20-29.
Osmani, R. &Deari, F. (2016).Firms’ financial performance and economic recession: Evidence from Macedonian listed companies. Bulletin of the Transilvania University of Brasor, 9(58), 201-210.
Padachi, K. (2006). Trends in working capital management and its impact on firms’ performance: An analysis of Mauritian small manufacturing firms. International Review of Business Research Papers, 2(2), 45-58.
Pozzoli, M. & Venuti, M. (2014). Related party transactions and financial performance: Is there a correlation? Empirical evidence from Italian listed companies. Open Journal of Accounting, 3(2), 28-37.
Purnamasari, D. (2015). The effects of changes on return on assets, return on equity and economic value added to the stock price changes and its impact on earnings per share. Research Journal of Finance and Accounting, 6(6), 80-89.
Quick, R., & Schmidt, F. (2018). Do audit firm rotation, auditor retention, and joint audits matter? –An experimental investigation of bank directors' and institutional investors' perceptions. Journal of Accounting Literature, 4 (1), 1-21.
Rafizadeh, H. (2016). The relationship between relate parties’ transaction and financial performance of companies listed in Tehran stock exchange. International Journal of Advanced Biotechnology and Research, 7(4), 117-122.
Rahma, S.S. (2018). Basel convention. Research presented to the Faculty of Commerce, Islamic University of Gaza.
Sanusi, B. & Izedomi, P. F. (2014). Nigerian commercial banks and creative accounting practice. Journal of Mathematical Finance, 4(2), 75-83.
Spence, M. (1973).Job market signalling. The Quarterly Journal of Economics, 87(3), 355-374.
Srivastava, J. (2001). The role of inferences in sequential bargaining with one-sided incomplete information: some experimental evidence. Organizational Behaviour and Human Decision Processes, 8(5), 166-187.
Stanwick, S. & Stanwick, P. (2000). The relationship between environmental disclosure and financial performance: An empirical study of US corporations. Eco-management and Auditing, 7(2), 135-164.
Stella O. and E. D. Uchenna (2019). Audit independence and reliability of financial reports: empirical evidence from Nigerian banks. International Journal of Economics and Business Management. 5(3), 43-52
Stiglitz, J. (1975). The theory of “screaming”, education, and the distribution of income. The American Economic Review, 65(3), 283-300.
Suffian, M.T.M., Sanusi, Z.M., Gharfar, S.A & Wahab, E.A.A. (2018). Managing related party transactions on earnings quality. International Journal of AcademicResearchin Business and Social Sciences, 8(1), 484-496
Swain, K.A. & Panda, G.P. (2015).Determinants of growth of off-balance sheet activities of private sector banks; empirical evidence from Indonesia. International Journal of Research, 5(1), 61-72.
Umobong, A.A. (2017). Related party transactions and firms’ financial performance. An International Multi-Disciplinary Journal, Ethiopia, 11(1), 60-74.
Uzoma, A.B., Osunkoya, M., Ayo, D.A., Adetiloye, K. &Akinjare, V (2016) Risk and profitability consideration of off-balance sheet engagements: a comparative analysis of deposit money banks in Nigeria. Retrieved from https://researchgate.net/publication/320596388.
Verma, E. (2018). Financial performance: Understanding its concepts and importance. Retrieved from https://www.sumphlearncom/financial-performance-rar21-article
Zayol, P.I., &Kukeng, V.I. (2017). Effect of auditor independence on audit quality: A review of literature. International Journal of Business and Management Invention, 6(3), 51-59
Zhang, L. (2009). Economic consequences of recognising off-balance sheet activities, September 11, Financial Accounting and Reporting Section FARS Paper, Retrieved from https://ssm.com/abstract=1266456
Aguolu, O. (2006). Ethics and integrity in the accounting profession. Nigerian Accountants, 41(3), 54-59.
Ahmad, W (2012).Off-balance sheet risk: evidence from Malaysian Islamic and conventional banks. The Journal of Muamalatand Islamic Finance Research,9 (4),125 142
Ajogwu, F. (2014). Driving the telecoms industry growth through corporate governance. A paper prepared presented at the Nigerian Communication Commission Presentation of the Code of Corporate Governance to the Telecommunications Industry, Eko Hotel, Lagos, July 2014
Akenbor, C.O. &Ibanichula, E.A.L. (2012). Creating accounting practices in Nigeria banks. An International Multidisciplinary Journal, Ethiopia, 6(3), 23-41.
Akintoye, I.R. (2008). Sensitivity of performance to capital structure. European Journal of Social Sciences, 7(1), 1-18.
Al-Awawdeh, H. & Al-Sakini, S. (2017). Off-balance items and their impact on the financial performance standards of the banks: An empirical study on the commercial banks of Jordan. International Business and Management, 15(2), 40-54.
Amat, O. &Gowthorpe, C. (2004). Creative accounting: nature, incidence and ethical issues. Journal of Business Ethics, 57(4), 55-64.
Audax, A. (2018). Factors affecting financial performance of manufacturing firms listed in Nairobi securities exchange, Kenya. Retrieved from http://erepo.usiu.ac.ke/botstream/handle/117323952/ANTHA%20AUDAX%20AUDAX%20MBA%202018.pdf?sequence.
Auronen, L. (2003). Asymmetric information: Theory and application, Helsinki University of Technology. Retrieved from
Azim, F, Mustapa Z.M, &Zainir, F (2018). The effects of corporate governance and related party transactions on firm performance among Pakistani family-owned firms. ArabianJournal of Business, 7(2),9-31
Balacia, O. (2008). Is creative accounting a form of manipulation? Fainter. Oradea Bonci. Contabiliate Tom, 3(17), 4-24.
Banafa, A., Muturi, W. & Ngugi, K. (2015). The. impact of leverage on financial firm in Kenya. International Journal of Finance and Accounting, 4(7), 1-20.
Bankole, K.O., Ukolobi, I.O. &McDubus, O.F. (2018). Creative accounting practices and shareholders’ wealth. International Accounting and Taxation Review, 2(4), 58-74.
Bansal, S &Thenmozhi, M (2018). Does concentrated founder ownership affect related party transactions? evidence from emerging economy. Retrieved from http://efmaefm.org/Oefmameetings/efma%20annual%20meetings/2018-Milan/papers/EFMA 2018_0427_fullpaper.pdf.
Beerbaum,D&Piechocki, M (2017). Related party transactions-empirical study based on IFRS and SEC disclosure. Retrieved https://www.researchgate.net/publication/319914398
Berzkalne, I. &Zelgalve, E. (2014).Returnon equity and company characteristics: An empirical study of industries in Latvia, the 8th international days of statistics and economics, Prague.
Bhargava, V. &Khaneja, S. (2017). A comprehensive review of literature on creative accounting. International Journal of Business Insights and Transformation, 10(1), 1-20.
Bhasin, M.L (2015). Creative accounting practices in the hidden corporate sector: an empirical study. International Journal of Management Sciences and Business Research, 4(10), 35-52
Bianchi, M., Ciavarella, A., Enriques, I., Novembre, V &Signretti, R (2014). Regulation and self regukation of related party transactions in Italy. Retrieved from https://www consob.it/document/46180/wp7sen.pdf/8ed60976-dd94-4adb-abbd-95f4a4470fe3
Bird, R. B., & Smith, E. A. (2005). Signalling theory, strategic interaction, and symbolic capital. Current Anthropology, 46: 221-248.
Costae, V. (2006). Determinants of corporate financial performance. Electronic Journal, 1(1), 123-135.
Deloof, M. (2003). Does working capital management affect profitability of Belgium firms? Journal of Business and Accounting, 30(4), 20-48.
Donaldson, T. & Preston (1995). The stakeholders’ theory of the corporations, concepts, evidence and implications. Academy of Management Review, 20(1),65-91.
Duvan, B.O. &Yurtoglu, H. (2004). Determinants of bank provisions: Evidence from Turkey. Journal of Economic Cooperation, 25(4), 105.120.
Egolum, A. A. Ugonabe, L.S. &Okenenwa, N.K. (2021). Corporate governance determinants of financial statement fraud likelihood: evidence from quoted internal licensed banks in Nigeria. International Journal of Academic Management Science Research, 5(4), 62-70
Elbadry, A., Gounopoulos, D. & Skinner, F. (2010). Governance quality and information alignment. Retrieved from http://www.mfsociety.org/
Elmagrhi, M. H., Ntim, C. G., Crossley, R. M., Malagila, J. K., Fosu, S., & Vu, T. V. (2017). Corporate governance and dividend pay-out policy in UK listed SMEs: The effects of corporate board characteristics. International Journal of Accounting & Information Management, 25(4), 459-483
Freeman, E., Harrison, J., Hicks, A., Parmar, B. & Colle, S. (2010). Stakeholder theory: The state of the art, Cambridge University Press, New York.
Gadawska, J. (2011). Effects of provisions on the valuation of a company. Equilibrium Journal, 6(2), 110-121.
Ge, W. (2006). Off-balance sheet activities earnings persistence and stock prices: evidence from operating leases. Retrieved from https://w4.stem.nyu.edu/accounting/docs/speaker_papers/spring2006/off_balance_sheet.pdf.
General Accounting Office (2003). Financial statement restatement database. (Report no. GA0-03-395k). Washington, DC. US Government Printing Office.
Ghaia, E.D. & Al-Ammar, R. (2018). Determinants of financial performance of non-financial sector: Evidence from public textile sector of Syria. International Journal of Advanced Research, 6(7), 167-178.
Gordon, E.A., Henry, E. &Pahi, D. (2004). Related party transactions: Association with corporate and firm value. Working paper. Retrieved from https://esrn.com/paper=558983
Hill, L.W.L. & Jones, T.M. (1992). Stakeholder agency theory. Journal of Management Studies, 29(6), 131-154.
Horngren, C.T., Harvison, W.T. &Ohier, M.S. (2009). Accounting upper saddle river.
Idris, A.A., Khinde, J.S., Ajemunigbohun, S.S. & Gabriel, J.M.O. (2012).The nature, techniques and prevention of creative accounting empirical evidence from Nigeria. Canadian Journal of Accounting and Finance, 1(1), 26-31.
Ijeoma, N. B (2014). The effect of creative accounting on the Nigerian banking industry. International Journal of Management Studies and Research, 2(10), 13-21
Jensen, M. & Meckling, W. (1976). Theory of the firm: Managerial behaviour, agency costs and ownership structure. Journal of Financial Economics, 3(4), 305-360.
Jones, M. (2011). Creative accounting, trend and international scandals. John Willey and Sons, Chichester, England.
Jones, T., Wicks, A., & Freeman, R.E. (2002). Stakeholder theory: the state of the art, N. Bowde ed. The Blackwell Guide in Business Ethics, Blackwell Publishing, Oxford, U.K
Kertarajasa, A. Y., Marwa, T., &Wahyudi, T. (2019). The effect of competence, experience, independence, due professional care, and auditor integrity on audit quality with auditor ethics as moderating variable.Journal of Accounting, Auditing & Finance, 30(1), 101-121.
Khan, M.K., Nouman, M.S & Imran, M.K. (2015).Determinants of financial performance of financial sectors: An assessment through economic value added. Retrieved from https://impra.ub.unimillenchen.de/81659/
Liandu, N. (2004). Earnings management: Why worry about it? Retrieved from https://www.accaglobal/publications/studendentaccounting/12/030206
Lucian, L. Delia, D., Cristina, N. & Cosmin, G.B. (2016).Empirical study on the creative accounting phenomenon. Studia Universitatis Economics Series, 26(2), 63-87.
Maduagufor, U. (2008). Stock market news. Retrieved from https://www.stockmarketnigeria.com
Mance, D. &Katunar, H. (2012). Influences on, and consequences of accounting policy choices. Retrieved from
Matar, A. &Eneizean, B.M. (2018). Determinants of financial performance in the industrial firms: Evidence from Jordan. Asian Journal of Agricultural Extension, Economics and Sociology, 22(1), 1-10.
McTague, E.P. (2013). Off-balance sheet accounting by leases and current proposals to end it. American International Journal of Contemporary Research, 3(10), 33-36.
McWilliam, H. & Siegel, T. (2010). Econometric analysis of panel data. John Wiley & Sons, Chichester.
Mehdi, M., Sahut, J. M., &Teulon, F. (2017). Do corporate governance and ownership structure impact dividend policy in emerging market during financial crisis? Journal of applied accounting research 3(1), 18-31.
Michael, N.B. (2012). Capital structure determinants of quoted firms in Nigeria and lessons for corporate financing decision, Journal of Finance and Investment Analysis, 1 (2), 61-81
Mogonta, K. &Pandowo, M (2016). Analysing the effect of return on assets, return on equity and earnings per share on market share price: A study of LQ-45 mining companies listed on Indonesia stock exchange. Journal Emba, 4(2), 703-713.
Munir, S., Saleh, M.N., Jaffar, R. & Yatim, P. (2013). Family ownership, related party transactions and earnings quality. Asian Academy of Management Journal of Accounting and Finance, 9(1), 129-153.
Narware, P.C. (2010). Working capital management: The effect of market valuatiofn and profitability in Malaysia. International Journal of Business and Management, 5(11), 10-25.
Naz, F. (2016). Financial performance of firms: Evidence from Pakistan cement industry. Journal of Teaching and Education, 5(1), 81-94.
NewJessey,Pearson.https://bib.irb.hr/datoteka/518772.mance.katunar_influences_on_and_c nsequenceshttps://pdf.semanticschola.org/cdc110d48cfa54659f309620d51240f09cfiacc.pd.
Nkomani, S. (2013). Corporate social responsibility and financial performance. The Johannesbury stock exchange top 100, University of Pretoria.
Ogwo, E. O, &Agu, G. A, (2016). Transport infrastructure, manufacturing sector performance and the growth of gross domestic product in Nigeria, (1999-2011). Journal of Business and African Economy 2(1), 1-21.
Okoro, E. G, &Jeroh, E (2016). Does related party transactions affect financial performance of firms in Nigeria? evidence from publicly quoted firms. Business Trends, 6(2), 47-53
Okoro, G.E. &Jeroh, E. (2016).Does related party transactions affect financial performance of firms in Nigeria? Evidence from publicly quoted firms. Business Trends, 6(2), 47-53.
Oluwagbuyi, O.C. &Olowolajj, M. (2013). Incessant financial scandals in the corporate organizations in Nigeria: Auditors’ culpability. Research Journal of Finance and Accounting, 4(9), 1-16.
Omondi, M.M. & Muturi, W. (2013). Factors affecting the financial performance of listed companies at the Nairobi security exchange in Kenya. Research Journal of Finance and Accounting, .4(15), 99-104.
Onuaha, K.C. (2010). The electricity industry in Nigeria: what are the challenges and options available to improve the sector? centre for energy, petroleum and mineral law and policy: University of Dundee.
Onyekwelu, U.L., Nnadi, C.S.O. &Lyidiobi, F.F. (2018). Evaluation of firms’ corporate financial indicators and operational performance of selected firm in Nigeria. Research Journal of Finance and Accounting, 9(4), 20-29.
Osmani, R. &Deari, F. (2016).Firms’ financial performance and economic recession: Evidence from Macedonian listed companies. Bulletin of the Transilvania University of Brasor, 9(58), 201-210.
Padachi, K. (2006). Trends in working capital management and its impact on firms’ performance: An analysis of Mauritian small manufacturing firms. International Review of Business Research Papers, 2(2), 45-58.
Pozzoli, M. & Venuti, M. (2014). Related party transactions and financial performance: Is there a correlation? Empirical evidence from Italian listed companies. Open Journal of Accounting, 3(2), 28-37.
Purnamasari, D. (2015). The effects of changes on return on assets, return on equity and economic value added to the stock price changes and its impact on earnings per share. Research Journal of Finance and Accounting, 6(6), 80-89.
Quick, R., & Schmidt, F. (2018). Do audit firm rotation, auditor retention, and joint audits matter? –An experimental investigation of bank directors' and institutional investors' perceptions. Journal of Accounting Literature, 4 (1), 1-21.
Rafizadeh, H. (2016). The relationship between relate parties’ transaction and financial performance of companies listed in Tehran stock exchange. International Journal of Advanced Biotechnology and Research, 7(4), 117-122.
Rahma, S.S. (2018). Basel convention. Research presented to the Faculty of Commerce, Islamic University of Gaza.
Sanusi, B. & Izedomi, P. F. (2014). Nigerian commercial banks and creative accounting practice. Journal of Mathematical Finance, 4(2), 75-83.
Spence, M. (1973).Job market signalling. The Quarterly Journal of Economics, 87(3), 355-374.
Srivastava, J. (2001). The role of inferences in sequential bargaining with one-sided incomplete information: some experimental evidence. Organizational Behaviour and Human Decision Processes, 8(5), 166-187.
Stanwick, S. & Stanwick, P. (2000). The relationship between environmental disclosure and financial performance: An empirical study of US corporations. Eco-management and Auditing, 7(2), 135-164.
Stella O. and E. D. Uchenna (2019). Audit independence and reliability of financial reports: empirical evidence from Nigerian banks. International Journal of Economics and Business Management. 5(3), 43-52
Stiglitz, J. (1975). The theory of “screaming”, education, and the distribution of income. The American Economic Review, 65(3), 283-300.
Suffian, M.T.M., Sanusi, Z.M., Gharfar, S.A & Wahab, E.A.A. (2018). Managing related party transactions on earnings quality. International Journal of AcademicResearchin Business and Social Sciences, 8(1), 484-496
Swain, K.A. & Panda, G.P. (2015).Determinants of growth of off-balance sheet activities of private sector banks; empirical evidence from Indonesia. International Journal of Research, 5(1), 61-72.
Umobong, A.A. (2017). Related party transactions and firms’ financial performance. An International Multi-Disciplinary Journal, Ethiopia, 11(1), 60-74.
Uzoma, A.B., Osunkoya, M., Ayo, D.A., Adetiloye, K. &Akinjare, V (2016) Risk and profitability consideration of off-balance sheet engagements: a comparative analysis of deposit money banks in Nigeria. Retrieved from https://researchgate.net/publication/320596388.
Verma, E. (2018). Financial performance: Understanding its concepts and importance. Retrieved from https://www.sumphlearncom/financial-performance-rar21-article
Zayol, P.I., &Kukeng, V.I. (2017). Effect of auditor independence on audit quality: A review of literature. International Journal of Business and Management Invention, 6(3), 51-59
Zhang, L. (2009). Economic consequences of recognising off-balance sheet activities, September 11, Financial Accounting and Reporting Section FARS Paper, Retrieved from https://ssm.com/abstract=1266456
Published
2024-07-08
How to Cite
Queen, I., Leyira Christian, M., & Asian A., U. (2024). Creative Accounting and Financial Performance of Quoted Nigerian Manufacturing Companies. GPH-International Journal of Business Management, 7(06), 21-49. https://doi.org/10.5281/zenodo.12683370
Section
Articles
Copyright (c) 2024 GPH-International Journal of Business Management
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Author(s) and co-author(s) jointly and severally represent and warrant that the Article is original with the author(s) and does not infringe any copyright or violate any other right of any third parties and that the Article has not been published elsewhere. Author(s) agree to the terms that the GPH Journal will have the full right to remove the published article on any misconduct found in the published article.
