BUSINESS AND FINANCE JOURNAL

Enhancing financial inclusion has become more prominent across the globe as a result of its strategic role in sustaining socio-economic growth and development. Thus, this study was undertaken to assess the link between financial inclusion and economic development in Nigeria. The study specifically examined the extent to which financial inclusion (proxied by number of bank branches per 100,000 adult) and financial deepening, among other factors, affect the Gross National Income (GNI) per capita. Times series data obtained from the World Bank and the Central Bank of Nigeria (CBN) from 1990 to 2021, which were analyzed using the least square multiple regression technique. The result indicated that financial inclusion and financial deepening has significant positive and negative effect on economic development, respectively. Thus, increasing financial access has the potential to stimulate a higher level of economic development. This study therefore advocates for more concerted effort in driving financial inclusion, especially through commercial branch expansion – which should target the rural areas – through agency banking as well as through increased digital financial services offerings. 

The market provides an objective valuation basis through the forces of demand and supply of knowledgeable participants. Firms must provide the needed information for these market participant to make informed decisions. Sustainability of firm has not been priced in because of absence of such information and understanding of associated benefits. Therefore, this study investigated the impact of sustainability practices exert on market value of listed firms on the Nigerian Exchange Group. The study adopted ex post facto research design with the use of a static panel data, stratified sampling technique was adopted in selecting 26 firms from the population of 168 firms listed on the Nigeria exchange [as at December 31,2020]. The data was analyzed using multiple regression.Findings revealed that proxies of sustainability practices reacted in various ways to market value of sampled firms. ECSP (P=0.400) and EVSP (P=0.504) have a significant effect on total asset (TA), while SOSP and GOSP insignificantly affect TA (SOSP: p=0.027; GOSP: P=0.028). Considering the coefficients of the explanatory variables; ECSP (α = 2.199); SOSP (α = 0.193); and EVSP (α = 0.551) indicate that ECSP, SOSP, and EVSP positively affect TA while GOSP (α = - 0.141) has negative effect on TA. While firm size provides significant controlling effect on the interactions. Overall, sustainability does exert statistical significant influence on the market value of selected listed firm on the Nigeria exchange. However with the control variable of firm size, this interaction became significant.In conclusion, various dimensions of sustainability practices reacted in various ways to market value of sampled firms, firms’ size has a significant control on this interaction. The study recommended that the management of companies listed on the Nigerian Exchange Group should engage in full sustainability practices vis-à-vis governance, social, environmental and economic sustainability practices to enjoy positive valuation in the market thereby improving market value. The study also recommended that market participants should consider proxies of sustainability in the determination of offer and bid price.

This study seeks to assess the influence of audit company qualities on financial reporting timeliness. The non-oil manufacturing companies listed on the Nigerian Exchange Group (NGX) that have been in operation since at least the year 2000 make up the study's population. 71 samples from the entire population were chosen for this investigation using simple random selection. The study's data came from published annual reports of the companies chosen for the study. Multiple regression analysis was employed in the study to analyse the data, and the E-view 8.0 statistical tools were used to estimate the model's parameters. The study used the analysis of pooled data. The results of the study show that audit fee has a negative but not statistically significant influence on timely financial reporting, audit firm size has a positive and statistically significant effect, and audit tenure and joint audit have a negative and statistically significant effect. The study suggests, among other things: that businesses should not always seek out audit firms that charge high fees because doing so does not guarantee a swift completion of the audit work; that businesses should not switch audit firms too frequently because this will allow the auditor to use their experience to ensure a swift completion of the audit work for early and timely financial reporting; and that businesses should engage joint auditors in order to benefit from the synergistic advantages that can be derived from doing so.