This paper examined the nexus between economic growth and exchange rate, remittances, trade, and agricultural output based on data sourced from 1980 to 2018 for 10 selected African economies. We employed both the Dumitrescu and Hurlin time-domain Granger causality test and the Croux and Reusens frequency domain Granger causality test. Results from the time-domain test suggests that causality only exists between economic growth and both exchange rate and trade, with no significant relationship between economic growth and both remittances and agricultural output. When we employed frequency domain model in our analysis, the results suggested that there is a bi-directional temporary and permanent causality between economic growth and exchange rate, trade, agriculture, and remittances. Our results suggest the validity of both the J-Curve and Marshall–Lerner hypotheses in the studied economies. Our study offers some relevant policy implications.
Purpose: This study examined the effects of the adoption of the International Financial Reporting Standard (IFRS) on the quality of financial statements of agro-allied firms in Nigeria. Methodology: Battery of unit root test techniques and co-integration tests were deployed to examine the existence of long-run impact of relevance and reliability of financial reporting as provoked by IFRS adoption. The study made use of Panel Fully Modified Least Square techniques to examine the nature of the relationship between the Pre-IFRS and Post-IFRS adoption periods. Main Findings: The study noted that IFRS adoption has a substantial effect on the reliability and relevance of financial statements. Implications: The findings of this study help in shedding light on the impact of the IFRS on financial statements' reliability and relevance of listed agro-allied firms in Nigeria. Novelty: This study offers a unique understanding of the impact of IFRS adoption on financial ratios in Nigeria.
The purpose of this study is to examine the link between technical efficiency and both the corporate governance and financial performance of listed financial firms on the floor of the Nigerian Stock Exchange using three theoretical approaches: shareholder theory, stakeholders’ theory, and resource dependence theory. We employed a stochastic frontier analysis to examine the impact of technical efficiency on the link between corporate governance and financial performance on the one hand, and, on the other, multiple regressions comprised of OLS and Poisson estimates to analyze a data-generating set sourced from 2007 to 2020. The results of our OLS estimates suggest that a negative but significant relationship exists between the corporate governance mechanism and the financial performance of the listed firms. When we subject the analysis to the Poisson estimates, the relationship becomes positive and significant. Our results have some positive implications.
1 July 2020 in Humanities & Social Sciences Reviews
Purpose: The study aims to investigate the determinant of the share price of agro-related firms listed on the Nigerian stock exchange. Methodology: We employed regression analysis, unit root test as well as vector correction model to determine the degree of relationship between share prices and each of return on assets (ROA), earnings per share (EPS), dividend per share (DPS). Findings: The study found that share price is majorly influenced by earnings per shares, while other variables lag it. Practical implications: Results from the study have some possible policy implications, for instance, it is recommended that policymakers should put in place conducive market environments that will stimulate earnings from investments. Investors should on the other hand pay keen attention to information within and outside the economy when making investment decisions. Originality/Value: This study is one of the first studies on determinants of share prices with a focus on agro-allied firms.