Papers by Olubunmi Ogunode
South asian Journal of Social Studies and Economics, Jan 7, 2022
In meeting the regulatory and ethical requirements of environmental accounting, reporting and pra... more In meeting the regulatory and ethical requirements of environmental accounting, reporting and practice among corporate organizations seem quite complex and challenging. Globally, management exerts much energy complying with environmental issues that affect salient societal requirements of pragmatic legitimacy and environmental accounting reporting and practice, yet the extent of this alignment remains uncertain. This study examined legitimacy theory and environmental accounting reporting and practices, adopting an exploratory research approach. The study resorted to using relevant materials from the field of accounting and finance. The study consulted and used journals, periodicals, and other documented material found to be appropriate and relevant to the study. Legitimacy theory was appropriately reviewed while other subsidiary theories of stakeholder theory and environmental information disclosure theory form part of the theoretical consideration. The study recommended that management of pollution sensitive companies should make environmental protection a priority and show good and quality character of adequate environmental disclosure and proper environmental accounting reporting and practice as expected by the stakeholders.
Asian journal of economics, business and accounting, Jan 12, 2023
This paper examined the interplay between financial technologies and financial inclusion in emerg... more This paper examined the interplay between financial technologies and financial inclusion in emerging economies especially from the Nigerian perspective. The study adopted the exploratory research design involving extensive review of related published materials including statistics obtained from reputable sources such as the World Bank, the Enhancing Financial Inclusion Surveys and the Global Findex reports. The study found that while the deployment of financial technologies has aided the financial inclusion drive in Nigeria, progress is still being hampered by challenges relating to poor system interoperability, socio-cultural induced gender sensitivities, concerns of data privacy breaches and over serving of cities by Fintechs to the detriment of priority rural areas. The study therefore recommended that regulatory authorities should provide clear policy frameworks that address issues of gender sensitivities, breach of data privacy and encourage a redirection of fintech activities to priority rural areas for greater impact on the financial inclusion drive. Also, efforts should be made to improve system interoperability and linkages between the conventional banks and fintech players to mitigate the challenges of frequent downtimes and service glitches which heightens trust deficiency.
Asian journal of economics, business and accounting, Nov 9, 2022
This paper examined the linkage between environmental disclosure practices and sustainable perfor... more This paper examined the linkage between environmental disclosure practices and sustainable performance with particular reference to listed manufacturing companies operating in Nigeria. The study utilized the ex-post facto research design for its investigation while a sample of forty-eight (48) listed manufacturing firms were purposively selected out of sixty-seven (67) quoted manufacturing firms listed as at December, 2020. The study found that while environmental disclosures (EDD) exhibited a negative effect on Returns on Assets (ROA), Debt to Assets Ratio (DTA) and Market Price per Share (MPS) of the sampled firms, Social Disclosures (SDD), firm size and firm age exerted significant positive influence on sustainable performance of manufacturing firms. This implied that mere adherence to environmental disclosures is insufficient to affect the volume and direction of performance of manufacturing entities. On the contrary, social disclosures involving extensive social engagements and execution of corporate social responsibility initiatives positively impacts and drives sustainable performance of manufacturing companies in Nigeria. The study therefore recommended that management of manufacturing companies must take necessary steps to improve their levels of social engagements with their respective host communities with a view to improving their overall performance in a sustainable way.
Asian Journal of Economics, Business and Accounting
This paper examined the interplay between financial technologies and financial inclusion in emerg... more This paper examined the interplay between financial technologies and financial inclusion in emerging economies especially from the Nigerian perspective. The study adopted the exploratory research design involving extensive review of related published materials including statistics obtained from reputable sources such as the World Bank, the Enhancing Financial Inclusion Surveys and the Global Findex reports. The study found that while the deployment of financial technologies has aided the financial inclusion drive in Nigeria, progress is still being hampered by challenges relating to poor system interoperability, socio-cultural induced gender sensitivities, concerns of data privacy breaches and over serving of cities by Fintechs to the detriment of priority rural areas. The study therefore recommended that regulatory authorities should provide clear policy frameworks that address issues of gender sensitivities, breach of data privacy and encourage a redirection of fintech activities ...
Cogent Business & Management
South Asian Journal of Social Studies and Economics
This paper examined cryptocurrency and its global practices with particular reference to salient ... more This paper examined cryptocurrency and its global practices with particular reference to salient lessons for the Nigerian economy. The desk review methodology anchored on content analysis was used for the study. The paper identified distrust in political systems, weak domestic currency and high inflation rates as key factors fueling the growth of cryptocurrency usage in Nigeria thus motivating individuals to resort to cryptocurrencies as a tool for wealth preservation and inflation hedge. The study also found that the existence of trust deficit and challenges associated with privacy concerns, system uptime and stringent onboarding requirements were capable of derailing the success of the newly launched digital currency(‘e-naira’) issued by government to curtail cryptocurrency usage in Nigeria. The study concluded that cryptocurrencies and central bank issued digital currencies (CBDCs) are now part and parcel of the new economic order and represents the future of finance. It therefor...
Research Journal of Finance and Accounting, 2022
This paper examined the nexus between tax havens and illicit financial flow of funds with particu... more This paper examined the nexus between tax havens and illicit financial flow of funds with particular reference to capital flows out of the African continent. Qualitative content analysis method supported with empirical data obtained from multilateral agencies was used for the study. The dataset covered forty-four (44) African countries for the period 2005-2014 respectively. Results revealed that the absence of political will, weak institutional framework, poor regulatory oversight and the unbridled scramble for the continent's mineral resources are some of the key factors responsible for the continued rise in IFFs from Africa. The study also found that the absence of global consensus on the proper treatment of tax havens remains a challenge to fostering the needed international collaboration to fight the scourge. It therefore recommended that critical stakeholders like the press and civil society groups in their roles as public watchdogs need to do more to track and report incidences of IFFs timeously. Also, on the international front, efforts must be made to ensure that the proposed new minimum, global corporate tax rate of 15% is adhered to as a needed first step to discourage funds flow to tax havens.
The International Journal of Business & Management, 2021
Introduction Decision making is an age-old venture undertaken by private or public persons either... more Introduction Decision making is an age-old venture undertaken by private or public persons either in their individual capacities or at leadership positions in organizations. When properly taken, it is often the difference between a successful organization and a less than successful one. Nations have also risen or fallen based on the quality of decisions taken by its leaders. This has sometimes been argued as a contributory factor for the current classification of nation states between developed, developing and undeveloped countries. The subject of effective management decision making and its impact on the wellbeing of organizations have therefore continued to engage the attention of several scholars over the years due to its overwhelming importance (Nelson & Quick 2003, Ugoani, 2018). Innovative decision making is vital for organizational success (Oliveira et al., 2015). As organizations continue to embrace the centrality of creativity, research and development to keep pace with the competitive world, the necessity of making prudent and productive decisions based on such efforts have become more challenging. Although several theorists have developed various approaches to address the enormous task of taking productive decisions to stimulate organizational performance, choosing the optimum approach given scarce time, competitive demands and situational challenges have remained a tough riddle for business leaders to unravel. Furthermore, the rapid pace of industrialization, frequent economic fluctuations, heightened technological advancements coupled with the deployment of artificial intelligence have all compounded in no small measure the heavy consequences of defective decisions taken at strategic management levels. This has therefore made the need for a study of effective management decision making as a panacea for organizational survival very vital. While a number of literatures have examined the relationship between decision making and various indices of organizational performance such as operational effectiveness (Mohammed 1992), customer focus and orientation (Best 2004, Jaworksi & Kohli, 1993) and innovation (Aaker, 2001, Hamel, 2002), there is however a dearth of available research that have investigated the linkage between effective management decision making and
International Journal of Development Research , 2020
Studies have shown that robust returns on assets and efficient resource management are reflection... more Studies have shown that robust returns on assets and efficient resource management are reflections of corporate competence, however, when management negates the essence of environmental justice and protection, in course of business operations, the going concern of such entity is greatly endangered. There is an ongoing debate concerning the uncertainties, environmental injustice, and non-compliance attitude of the majority of environmentally sensitive companies particularly in the upstream sector. Consequently, this study investigated environmental justice and returns on assets of the oil and gas companies. Expo factor was employed using a population of twelve oil and gas operators listed on Nigeria Stock Exchange. Three companies operating in the upstream segment of the downstream industry were selected using the purposive sampling technique. Published financial statements of the sampled companies for the period 2003-2018 form the source of data. The validity and reliability of the data were premised on the scrutiny of the external auditors. Descriptive statistics and panel data regression were used while diagnostic tests of Hausman, Breusch-Pagan/Cook-Weisberg test for heteroscedasticity, and multicollinearity tests were carried out. The study found that environmental justice had a statistically positive significant effect on return on assets (AdjR 2 = 0.17, F-Stat. (3, 44) =16.63; P-value=0.00 < 0.05). The study recommended that managements' quest for high investment returns should be aligned with environmental justice for host communities and environmental protection of the planet earth's the peaceful coexistence of all the inhabitants.
Research Journal of Finance and Accounting , 2022
This paper examined the nexus between tax havens and illicit financial flow of funds with particu... more This paper examined the nexus between tax havens and illicit financial flow of funds with particular reference to capital flows out of the African continent. Qualitative content analysis method supported with empirical data obtained from multilateral agencies was used for the study. The dataset covered forty-four (44) African countries for the period 2005-2014 respectively. Results revealed that the absence of political will, weak institutional framework, poor regulatory oversight and the unbridled scramble for the continent's mineral resources are some of the key factors responsible for the continued rise in IFFs from Africa. The study also found that the absence of global consensus on the proper treatment of tax havens remains a challenge to fostering the needed international collaboration to fight the scourge. It therefore recommended that critical stakeholders like the press and civil society groups in their roles as public watchdogs need to do more to track and report incidences of IFFs timeously. Also, on the international front, efforts must be made to ensure that the proposed new minimum, global corporate tax rate of 15% is adhered to as a needed first step to discourage funds flow to tax havens.
The International Journal of Business and Management , 2021
Studies have shown that decision making is considered germane for productive daily existence. Put... more Studies have shown that decision making is considered germane for productive daily existence. Putatively too, innovative management decision making is deemed central to organizational success. However, there is an on-going debate as to the extent to which organizations can effectively turn their everyday managerial decision making to engender organizational excellence in the face of challenging business environment characterized by frequent economic fluctuations, technological advancements, and rapid pace of industrialization. Consequently, this study examined the relationship subsisting between effective management decision making and organizational excellence. Content analysis research approach involving the review of previous scholarly works was employed for the study. Findings from the study indicate that for managerial decision making to stimulate organizational excellence, practitioners must avoid decision traps while also putting into proper focus the place of team and collaborative efforts in their respective organisation. The study therefore concluded that effective decision making is a sine qua non requirement for organizations desirous of outperforming global competition as well as maintaining interactive relationships with customers and other relevant stakeholders. It is therefore recommended that managers should continuously embrace innovative ideas so as to constantly enhance their organizational excellence against all business odds.
South Asian Journal of Social Studies and Economics , 2022
This paper examined cryptocurrency and its global practices with particular reference to... more This paper examined cryptocurrency and its global practices with particular reference to salient lessons for the Nigerian economy. The desk review methodology anchored on content analysis was used for the study. The paper identified distrust in political systems, weak domestic currency and high inflation rates as key factors fueling the growth of cryptocurrency usage in Nigeria thus motivating individuals to resort to cryptocurrencies as a tool for wealth preservation and inflation hedge. The study also found that the existence of trust deficit and challenges associated with privacy concerns, system uptime and stringent onboarding requirements were capable of derailing the success of the newly launched digital currency(‘e-naira’) issued by government to curtail cryptocurrency usage in Nigeria. The study concluded that cryptocurrencies and central bank issued digital currencies (CBDCs) are now part and parcel of the new economic order and represents the future of finance. It therefore recommended that nation states should work assiduously to develop uniformly agreed regulatory framework and global standards for the usage of cryptocurrencies.
Archives of Business Research, 2022
This study examined the role that forensic accounting play in aiding the success of fraud prevent... more This study examined the role that forensic accounting play in aiding the success of fraud prevention strategies in combating frauds at both corporate and national levels. The study adopted the exploratory research design methodology involving extensive review of published articles, periodicals and other materials relevant to the subject matter. The study found that while the use and deployment of forensic accounting tools and techniques have made appreciable progress in the developed world, its appreciation and usage in emerging economies is still at the embryonic stage due to lack of political will, poor ethical tone set by management and dearth of skilled forensic accounting professionals. It therefore recommended that to ensure sustainable success of fraud prevention strategies, management of both public sector and corporate entities should demonstrate the needed political will and set the right ethical tone at the top through their actions and activities. Similarly, efforts should be made to continually upskill anti-fraud staffs (internal audit, forensic accountants, forensic investigators) through trainings and awareness programs on the latest fraud prevention methodologies. Also, that in view of the rising cases of cybercrimes, nation states should urgently consider the signing and implementation of legal treaties and frameworks to combat the scourge.
Universal Journal of Accounting and Finance
This paper examined the impact of cybersecurity in driving the financial innovation of Deposit Mo... more This paper examined the impact of cybersecurity in driving the financial innovation of Deposit Money Banks in Nigeria. The rapid growth in population coupled with the challenge of reducing the rate of the financially excluded has made the need for financial innovation by Deposit Money Banks in Nigeria a matter of serious importance. However, due to a mix of factors ranging from poor design, design vulnerabilities to lopsided adoption and implementation of new financial technology products, this need has remained largely unmet with attendant negative consequences on the financial system. The study adopted a survey research design with primary data obtained via a structured questionnaire administered to a sample size of fifty-six (56) Deposit Money Banks Staff purposively selected. The sampled staffs were senior member staff of key impacted departments while the Banks selected accounted for 93% of total market capitalization as on December 31, 2021. The primary data collected were analyzed using descriptive and inferential statistics. The study found that cybersecurity proxied by risk management and bank monitoring had a statistically and positively significant impact on financial innovation of deposit money banks in Nigeria (Adj.R 2 = 0.447, F (2,55) =23.274, p< 0.05). It recommended that deposit money banks should ensure regular review, revision and strengthening of their risk management framework to meet with emerging challenges from the deployment of financial innovative products and services. Additionally, deposit money banks should improve on the level of monitoring of the deployed e-banking channels (Card products, POS, ATMs and other channels) to facilitate greater reliance on them for the consummation of financial transactions.
Universal Journal of Accounting and Finance, 2021
This study examined the post -implementation impact of IFRS 15 from the Nigerian perspective and ... more This study examined the post -implementation impact of IFRS 15 from the Nigerian perspective and challenges associated with the adoption. Four listed companies operating in IFRS 15 key impacted firms in Nigeria which accounts for 82% of total market capitalization as of April 2021 were selected. The data extracted were analyzed with the aid of tables, charts, ratios, percentages and content analysis. The study revealed that listed firms in Nigeria aligned with the need to adopt and fully implement IFRS 15 in their financial reporting in response to regulatory pressure and increased internationalization of their operations. The study, therefore, concluded that adoption and implementation of IFRS 15 had a positive effect on accounting numbers of listed firms in Nigeria. The study identified the proper identification and treatment of royalties, income taxes, proper delineation of revenues from contractual fees, the need for persistent contract modifications, capitalization of contract ...
South Asian Journal of Social Studies and Economics
In meeting the regulatory and ethical requirements of environmental accounting, reporting and pra... more In meeting the regulatory and ethical requirements of environmental accounting, reporting and practice among corporate organizations seem quite complex and challenging. Globally, management exerts much energy complying with environmental issues that affect salient societal requirements of pragmatic legitimacy and environmental accounting reporting and practice, yet the extent of this alignment remains uncertain. This study examined legitimacy theory and environmental accounting reporting and practices, adopting an exploratory research approach. The study resorted to using relevant materials from the field of accounting and finance. The study consulted and used journals, periodicals, and other documented material found to be appropriate and relevant to the study. Legitimacy theory was appropriately reviewed while other subsidiary theories of stakeholder theory and environmental information disclosure theory form part of the theoretical consideration. The study recommended that manage...
The desire and demand for value for money audit (VFM) in the public sector is significant because... more The desire and demand for value for money audit (VFM) in the public sector is significant because the confidence of the populace is gradually fading away due to inability of public servants at all levels to ensure transparency and accountability in public spending. Some prior studies have ascribed this to a lack of patriotism, and sheer display of incompetence and systemic inaptitude, others attributed this to weak control measures and ineffective value for audit, resulting to misappropriation, fraud, and stealing of public funds. Consequently, this study examined public sector engagements, from the perspective of value for money audit. The research approach adopted for the study was content analysis. The study revealed that if properly carried out, value for money audit has the capacity to enhance reduction in costs of governance, misappropriation and theft of public fund, assist government in redirecting scarce public resources to priority areas and restore public confidence in th...
Journal of Finance and Accounting
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Papers by Olubunmi Ogunode