Good News: The editorial board of EJAFI wish to announce the slash of EJAFI publication fee to $65 for the month of July, 2018
Editor-in-Chief: Prof. Mihaela Gondor
ISSN: 3466 – 7037 (print version)
ISSN: 4242 – 405X (electronic version)
Vol. 5; Issue 5; 2019: Frequency: Monthly: Impact Factor: 4.17
European Journal of Accounting, finance and investment enjoys an excellent reputation as an academic journal that publishes articles addressing significant research questions from a broad range of perspectives. EJAFI initiates and fosters discussion on issues that significantly contribute to the disciplines of accounting, Finance and Investment, with emphasis on the implications of these disciplines in the ongoing globalization process in the 21st century.
Mihaela Gondor: Petru Maior University of Tirgu Mures Tirgu Mures, Romania
Hussain, Mostaq M., University of New Brunswick-SJ, Canada
Aras, Güler, Yıldız Technical University, Turkey
Herath, Siriyama Kanthi, Clark Atlanta University, USA
Hindi, Nitham, University of Qatar, Qatar
Rao, N Maruti, Rani Channamma University , India
Rossi, Fabrizio, University of Cassino and Southern Lazio, Italy
The journal: publishes significant contributions to the accounting, finance, business information systems and related disciplines, develops, tests, or advances accounting, finance and information systems theory, research and practice, publishes theoretical, empirical and experimental papers that significantly contribute to the disciplines of accounting and finance
EJFAI is currently index in thomson Reuter research ID, google scholar, PubMed, ResearchGate, lockss, SCOPUS, Science Citation Index Expanded, Web of Science
Impact Factor® as reported in the 2017 Journal Citation Reports (scientific Journal Impact Factor, 2017): 3.615
EXAMINING THE CREATION OF INSURANCE CO-OPERATIVES SCHEME AS A MECHANISM FOR FINANCIAL INCLUSION OF THE INFORMAL SECTOR IN NIGERIA
Okafor, Fidelis Nwobodo (MBA, MSc, CNA) and Ezugwu, Chukwudi Sabinus
Abstract: This study was on examining the creation of insurance co-operatives scheme as a mechanism for financial inclusion of the informal sector in Nigeria. Its specific objectives were to investigate whether having an insurance co-operative scheme can facilitate financial inclusion in the informal sector in Enugu East, West and North senatorial zones. The research design used in the study was survey method. Data was collected using questionnaire. Three hypotheses were formulated and tested. The tests were carried out using ANOVA analytical technique. It was found that having an insurance co-operative scheme will facilitate financial inclusion in the informal sector in Enugu East senatorial zone, Enugu West senatorial zone and Enugu North senatorial zone
CASH CONVERSION CYCLE, INVENTORY TURNOVER DAYS AND FIRMS’ FINANCIAL PERFORMANCE (A STUDY OF SELECTED QUOTED MANUFACTURING FIRMS IN NIGERIA)
Odeyile, Lucky Goodluck Ph.D., and Ikenna Egungwu Ph.D
Abstract: There are two ways among others in assessing working capital management of firms. They are; Inventory Turnover day’s concept and the Concept of Cash Conversion Cycle (CCC). Inventory Turnover day’s reveal the average numbers of days stocks are held before sales, Average number of days inventories are turned over within a year, the faster the better while Cash Conversion cycle measures the number of days between actual cash expenditures on purchase of raw materials and actual cash receipts from the sale of finished products or services. The two basic objectives of the research are to investigate the effect of cash conversion cycle on firms’ financial performance and to ascertain the effect of Inventory Turnover days on firms’ financial performance. In line with these objectives, two research questions and two hypotheses were formulated
THE NIGERIAN ENVIRONMENT AND THE IMPLEMENTATION OF IFRS 9 (FINANCIAL INSTRUMENT)
Friday Effiong Akpan, Ph.D. and Uche Lucy Onyekwelu, Ph.D.
Abstract: The adoption of IFRS around the world is occurring rapidly to bring about accounting quality improvement through a uniform set of standards for financial reporting. It is important to understand the effect of IFRS on accounting information quality and its usefulness to investors. This paper examines the Nigerian environment and the implementation of IFRS 9 (financial instrument) focusing on the 21 banks and 31 manufacturing firms all quoted on the Nigerian Stock Exchange. Using a descriptive statistical analysis, the results revealed that, IFRS 9 is widely accepted in Nigeria hence it has 3.6971 adaptation, contribution rate of 3.9976 to credit facility and a growth rate of 3.2576.
EFFECT OF DIVIDEND POLICY VARIABLES ON PERFORMANCE OF FIRMS IN THE HEALTHCARE INDUSTRY IN NIGERIA
Alfred C. Osakwe, Ph.D., Obasikene, Alice Chinwe Ph.D. and Aniekwe, Emmanuel Onyegbunam
Abstract: The study examined the effect of dividend policy variables on the performance of firms in the healthcare sector of the Nigerian Stock Exchange. The study developed two models of firm performance using return on asset (ROA) and return on equity (ROE) as measures of firm performance. The explanatory variables of dividend policy were dividend per share (DPS), dividend payout ratio (DPO) while firm size and leverage were introduced as control variables. The data were extracted from the annual reports of the selected companies during the period from 2011 – 2016. Panel data regression was used. The findings showed that about 16% and 24% of changes in ROA and ROE respectively can be explained by dividend policy variables indicating that dividend policy is not the major determinant of firm performance for firms in the healthcare sector in Nigeria.
EFFECT OF TAXATION ON ECONOMIC GROWTH (2007-2017)
NGWOKE, OGECHUKWU MARIA
Abstract: This study seeks to evaluate the effect of taxation on economic growth (2007-2017). The specific objectives were to; evaluate the effect of petroleum profit tax on the real gross domestic product of Nigeria, examine the impact of company income tax on the real gross domestic product of Nigeria and determine the impact of custom and excise duty on the real gross domestic product of Nigeria. The study adopted ex-post facto. The study made use of secondary data obtained from the Central Bank of Nigeria Statistical Bulletins for the relevant years. The hypotheses were tested using unit root test and regression analysis statistical tool. The following findings were made for this study: Petroleum profit tax has significant effect on the gross domestic product of Nigeria. Company income tax has significant effect on the gross domestic product of Nigeria and Customs and excise duties have significant effect on the gross domestic product of Nigeria. The study concluded that; about 96% changes in the dependent variable are explained by the independent variable.
EFFECT OF CAPITAL ADEQUACY ON COMMERCIAL BANK’S FINANCIAL PERFORMANCE IN NIGERIA, 2010-2017
Agu, Bertram O. Ph.D., and Nwankwo, S.N.P. Ph.D.
Department of Banking and Finance, Enugu State University of Science and Technology, ESUT, Enugu
Abstract: This study investigated the effect of capital adequacy on Commercial Bank’s financial performance in Nigeria. The research was an ex -post -facto research design which made use of secondary data covering the period of 2010-2017. Descriptive statistics was employed to check the trends, linearity or otherwise of the data. Regression model was applied in determining the extent of the effects exerted on Commercial Bank financial performance by Loans and Advances, Owners’ Equity and Total Deposits of commercial banks in Nigeria. The main theory that underpinned the research is the; “Liquidity Theory”. The result of the analysis shows that Owner’s equity (OE) has positive and no significant impact on Net Interest Income (NII) of Commercial Banks in Nigeria. This study also confirmed that Loans and Advances had a positive and significant relationship with Net Interest Income of Commercial Banks in Nigeria.
EFFECT OF BANK INNOVATIONS ON FINANCIAL PERFORMANCE OF COMMERCIAL BANKS IN NIGERIA
Ejike, Sylvester Ikechukwu (Ph.D. Nig.) CNA
Department of Accountancy, Enugu State University of Technology (ESUT) Enugu, Nigeria
Abstract: The Nigerian Banking Industry is witnessing a revolution as a result of technological innovations that have become a common feature of banking in the contemporary business environment. The arrival of the Internet and the proliferation of mobile telecommunication companies in Nigeria present both an opportunity and a challenge to banks in Nigeria. The test for the banking sector has been how to profitably formulate a new service delivery means in such a way that its clients will enthusiastically learn to use and trust. The purpose of this work is to identify the effect of bank innovations on the financial performance of commercial banks in terms of their income or revenue generation, liquidity, efficiency, profitability and the general patronage of banking services in Nigeria. This work is a survey of bank executives from fifteen (15) commercial banks in Nigeria. Questionnaires were administered to find out the opinions of bank executives on the effect of bank innovations on financial performance.