FIRMS

This study examines the relationship between board diversity and the financial performance of firms in Nigeria. It explores how diverse board characteristics such as gender, age, expertise, and background influence firm profitability and overall financial health. The study made use of secondary data which were generated from the annual report of companies listed in my exchange group for the period 2020-2024. The data generated were analysed using ordinary least squares (OLS) regression techniques. The study found among others that board diversity does not have a significant impact on firm performance in the Nigerian Manufacturing sector. By implementing inclusive governance practices and reforming institutional frameworks, Nigerian manufacturing firms can unlock the full potential of board diversity to enhance innovation, accountability, and long-term sustainability.

The broad objective of this study is to examine the effect of Environmental, Social, and Governance (ESG) disclosure on the performance of distressed and non-distressed manufacturing firms in Nigeria over a five-year period from 2019 to 2023. To achieve this objective, the study employed ESG disclosure and its components as explanatory variables, while firm performance was measured using return on assets (ROA) and Tobin’s Q. The study adopted an ex-post facto and descriptive research design using panel data obtained from the annual reports of selected manufacturing firms listed on the Nigerian Exchange Group. Descriptive statistics, correlation analysis, diagnostic tests, and panel least squares regression techniques were used for data analysis. The results reveal that ESG disclosure has a positive and statistically significant effect on both accounting-based and market-based performance measures across all firms. However, the effect is stronger among non-distressed firms, indicating that financially stable firms are better positioned to benefit from sustainability practices. The findings further show that leverage has a negative influence on performance, while firm size contributes positively to financial outcomes. Based on these empirical insights, the study recommends that manufacturing firms should strengthen their ESG reporting processes and integrate sustainability strategies into their operations to enhance competitiveness and long-term value creation. Policymakers and regulatory bodies should also encourage standardized ESG reporting frameworks to improve disclosure quality and stakeholder confidence within the sector.

This study examine the causes and solution small scale business failure in Edo State, Nigeria, with a view to proffer solutions. In every economy there are simple system as well as complex one. At the simple stage of organization, ownership of business is not always distinct form management; this means that supervision of the business is in the hand of the owner. When the scope of business organization increases, it becomes very difficult for one person to co-ordinate, direct and control. At this point, that ownership and management becomes differentiated. Therefore, it becomes very difficult for the owner to supervise the business enterprise. It will be easier here for management to pursue goals that are different from the objectives set by the owner; which brings about conflicting objectives that can result in business failure. In Nigeria, it will be difficult to believe that a small scale business enterprise that is owned and managed by the owner can collapse within a twinkle of an eye. Is it as a result of finance, management inefficiency or government policies? This is what the research work is set to uncover. Based on the findings, the researcher concluded that the failure of government in providing a conducive business environment has affected the performance of small scale business also poor management of resources in no small measure has equally affected the growth of small scale business in Nigeria. Therefore, the researcher recommends that government should try as much as possible to provide a stable and conducive environment and hence organization’s should ensure that both human, capital and material resources are effectively utilized

In this study, the impact of dividend policy on share price of firms Listed on oil and gas sector of Nigerian Exchange Limited (NGX) was examined. In order to determine the relationship between dividend policy and share price of firms, dividend policy key proxy variables were used in the study, namely; dividend yield (DIY), dividend per share (DPS) and dividend payout (DPR) while share price (SP) on the other hand was measured using market price of shares (SP). The study also control for size of firm (FZ) in the model specification. Three hypotheses were formulated to guide the investigation and the statistical test of parameter estimates was conducted using OLS panel least model operated with Eviews 9.0. Longitudinal research design was adopted and data for the study were obtained from the Nigerian Annual Reports and Accounts of listed oil and gas firms in Nigeria spanning from 2010 - 2021. The findings generally indicate that dividend yield, dividend per share and firm size have exerted significant impact on share price of the selected oil and gas firms. Based on this, the study concludes that dividend policy is capable of influencing oil and gas firms’ share prices in Nigeria. By this implication, the study supports the relevant theories of dividend policy reviewed in this study as irrelevant theories of dividends do not hold in the case of Nigeria. The study recommends among others that firms’ willing to maximize share price should consistently increase their dividend per share and reduce their dividend yield as this sends signal to the investors about the firm’s market performance and financial health