CALL FOR PAPERS

CERTIFICATE

IMPACT FACTOR 2019

Subject Area

  • Life Sciences / Biology
  • Architecture / Building Management
  • Asian Studies
  • Business & Management
  • Chemistry
  • Computer Science
  • Economics & Finance
  • Engineering / Acoustics
  • Environmental Science
  • Agricultural Sciences
  • Pharmaceutical Sciences
  • General Sciences
  • Materials Science
  • Mathematics
  • Medicine
  • Nanotechnology & Nanoscience
  • Nonlinear Science
  • Chaos & Dynamical Systems
  • Physics
  • Social Sciences & Humanities

Why Us? >>

  • Open Access
  • Peer Reviewed
  • Rapid Publication
  • Life time hosting
  • Free promotion service
  • Free indexing service
  • More citations
  • Search engine friendly

Plagiarism Detection

IJCR is following an instant policy on rejection those received papers with plagiarism rate of more than 20%. So, All of authors and contributors must check their papers before submission to making assurance of following our anti-plagiarism policies.

 

 

 

 

Internal control system and financial performance of manufacturing companies listed in Nigeria

Author: 
Akinyemi, Akindimeji, Ogbebor, Peter I. and Cole, Abimbola A.
Subject Area: 
Social Sciences and Humanities
Abstract: 

Manufacturing companies in Nigeria has witnessed poor financial performance, subsequent failure and liquidation which can be traced to weak internal control system, internal fraud, and non-compliance with corporate governance standard, lack of transparency, creative accounting and insider trading. The financial performance of manufacturing companies has been called to question on several occasions. The study examined the effect of internal control system on financial performance of manufacturing companies listed in Nigeria. The study employed ex-post facto research design, a target population of forty-three (43) manufacturing companies quoted on Nigerian Stock Exchange was used and a sample of fifteen (15) companies was selected from the population. The data was gathered from audited financial reports of the sample manufacturing firms for a period of ten (10) years. The study employed descriptive method of analysis to describe the data while inferential statistics such as multiple linear regression technique was used to test the hypotheses using Stata software. Inferences were made at 10% level of significance. The study showed that Risk management has significant and positive effect on financial performance of manufacturing companies listed in Nigeria giving the F-statistics value of 7.212 with probability value of 0.000 and Adjusted r2 of 0.151. Hence the null hypothesis of no significant effect is rejected. Board independence have statistical impact on financial performance with F-statistics value of 5.441 with probability value of 0.000 and Adjusted r2 of 0.113. Hence the null hypothesis of no significant effect is rejected. From the findings of the study, the study concluded that manufacturing companies that had invested on effective internal control systems have more improved financial performance as compared to those with a weak internal control system. The following recommendations were made based on the outcome of the study: Management should develop a mechanism to incorporate relevant feedback from the various stakeholders into their internal control system and Board of Directors of manufacturing firms should ensure that the internal control systems recommended by both internal and external auditors are periodically monitored and evaluated.

PDF file: 

Announcement

IJMCE RECOMMENDATION

ONLINE PAYPAL PAYMENT

CURRENT ISSUE

NEWS

CHIEF EDITOR
Rosane Cavalcante Fragoso, Brasil
ASSOCIATE CHIEF EDITOR

   

Jean-Marc SABATIER
Chief Scientific Officer and Head of a Research Group
France

Advantages of IJCR

  • Rapid Publishing
  • Professional publishing practices
  • Indexing in leading database
  • High level of citation
  • High Qualitiy reader base
  • High level author suport

EDITORIAL BOARD

Luai Farhan Zghair
Iraq
Hasan Ali Abed Al-Zu’bi
Jordanian
Fredrick OJIJA
Tanzanian
Firuza M. Tursunkhodjaeva
Uzbekistan
Faraz Ahmed Farooqi
Saudi Arabia
Eric Randy Reyes Politud
Philippines
Elsadig Gasoom FadelAlla Elbashir
Sudan
Eapen, Asha Sarah
United State
Dr.Arun Kumar A
India
Dr. Zafar Iqbal
Pakistan
Dr. SHAHERA S.PATEL
India
Dr. Ruchika Khanna
India
Dr. Recep TAS
Turkey
Dr. Rasha Ali Eldeeb
Egypt
Dr. Pralhad Kanhaiyalal Rahangdale
India
DR. PATRICK D. CERNA
Philippines
Dr. Nicolas Padilla- Raygoza
Mexico
Dr. Mustafa Y. G. Younis
Libiya
Dr. Muhammad shoaib Ahmedani
Saudi Arabia
DR. MUHAMMAD ISMAIL MOHMAND
United State
DR. MAHESH SHIVAJI CHAVAN
India
DR. M. ARUNA
India
Dr. Lim Gee Nee
Malaysia
Dr. Jatinder Pal Singh Chawla
India
DR. IRAM BOKHARI
Pakistan
Dr. FARHAT NAZ RAHMAN
Pakistan
Dr. Devendra kumar Gupta
India
Dr. ASHWANI KUMAR DUBEY
India
Dr. Ali Seidi
Iran
Dr. Achmad Choerudin
Indonesia
Dr Ashok Kumar Verma
India
Thi Mong Diep NGUYEN
France
Dr. Muhammad Akram
Pakistan
Dr. Imran Azad
Oman
Dr. Meenakshi Malik
India
Aseel Hadi Hamzah
Iraq
Anam Bhatti
Malaysia
Md. Amir Hossain
Bangladesh
Ahmet İPEKÇİ
Turkey
Mirzadi Gohari
Iran