Search

This study examined the relationship between financial strength, financial performance and firm’s value of multinational companies in Nigeria. The main objective of the study is to study the effects of financial strength and financial performance on firm’s value of a multinational company in Nigeria. This Study is based on signally theory. Secondary sources of data were sourced from Central Bank of Nigeria Statistical Bulletin and annual report of the selected multinational company in Nigeria. Ordinary Least Square Linear Regression model was used in analyzing the data. Findings show Quick Ratio (QR) has a significant positive relationship with firms’ values, Debt to Equity Ratio (DER) has a significant negative relationship with Firms’ values, Debt to Assets Ratio (DAR) has a significant positive relationship with Firms’ values while Cash Flow Ratio has a significant positive relationship with firms’ values as proxies for financial strength. Return on Capital Employed (ROCE) as proxy for financial performance has a significant positive relationship with firms’ values of multinational companies in Nigeria. The study concluded that, if multinational companies build strong financial strength to improve their financial performances, their market value would be sustained.

This study examined the relationship between financial strength, financial performance and firm's value of multinational companies in Nigeria. The main objective of the study is to study the effects of financial strength and financial performance on firm's value of a multinational company in Nigeria. This Study is based on signally theory. Secondary sources of data were sourced from Central Bank of Nigeria Statistical Bulletin and annual report of the selected multinational company in Nigeria. Ordinary Least Square Linear Regression model was used in analyzing the data. Findings show Quick Ratio (QR) has a significant positive relationship with firms' values, Debt to Equity Ratio (DER) has a significant negative relationship with Firms' values, Debt to Assets Ratio (DAR) has a significant positive relationship with Firms' values while Cash Flow Ratio has a significant positive relationship with firms' values as proxies for financial strength. Return on Capital Employed (ROCE) as proxy for financial performance has a significant positive relationship with firms' values of multinational companies in Nigeria. The study concluded that, if multinational companies build strong financial strength to improve their financial performances, their market value would be sustained. [ABSTRACT FROM AUTHOR]

This study examined the effect of exchange rate fluctuation economic factors on financial performance of multinational companies in Nigeria, It specifically examined the effect of nominal exchange rate, real exchange rate, interest rate as well as exchange rate fluctuations on the financial performance of listed multinational oil and gas firms in Nigeria performance of deposit money banks in Nigeria. Secondary sources of data was employed to extract useful information from the Audited Annual Reports of the eight (8) oil and gas firms sampled were selected through purposive sampling technique for the investigation for the periods 2006-2020. The measures of exchange rate fluctuation economic factors comprise of foreign exchange rate fluctuation (FXRF), real exchange rate (REER), nominal exchange rate (NOER interest rate spread (INSR), firm's size (FSIZE), financial leverage (FLV) and business risk (BSR) with financial performance, being dependent variable measured by return on asset (ROA). Both descriptive and inferential statistics. Correlation and regression analysis were used to test the hypothesis. Findings revealed that nominal exchange rate and interest spread rate have positive and statistically significant relationships with return on asset (ß=1.395, pvalue 0,000 and 0.017;p-value 0.000) at the level of 5% level of significant while foreign exchange rate fluctuation, real exchange rate, firm size and financial leverage has a negative and statistically significant association with return on asset (ß=-0.0021, p-value=0.000,-8.01;p-value 0.049,-0.00031;p-value 0.038, and -0.00867;p-value|=0.002) respectively at 5% level of significant. The study concluded that exchange rate fluctuation economic factors have strong statistical relationship with the financial performance of listed oil and gas companies in Nigeria. Based on the findings, the researchers recommends that micro-economic factors such as financial leverage, company size, and business risk should be taken into consideration by the management of Nigerian listed oil and gas businesses when mediating on fluctuations in the country's foreign currency rate. To lessen the severity of exchange rate fluctuations, the appropriate authorities should take proper steps to protect the value of the native currency. Furthermore, oil and gas companies should constantly assess the impact of fluctuations in the nominal exchange rate on their income from upstream and downstream oil exploration activities, and implement strategies to mitigate the negative impact of these fluctuations. [ABSTRACT FROM AUTHOR]

This study aimed at examining the effect of consolidated financial reporting disclosure and firms' value of worldwide companies in Nigeria. The researcher tends to achieve these objectives by investigating the relationship between debt policy and firms' value of listed non-financial worldwide companies in Nigeria; the second objective of the research is to examine the relationship between corporate size and firms' value of listed non-financial worldwide companies in Nigeria. The study adopted an ex-post-facto research design and secondary data was gathered to analyze the relationship between the variables. The population of the study consisted of one hundred and thirteen (113) of non-financial worldwide companies listed on the Nigeria Exchange Group as at 5th march, 2021. Purposive sampling technique was employed to select 76 non-financial listed multinational firms in Nigeria. Data for the study were gathered from annual reports of selected firms for the period of 11 years (2010-2020) and analyzed using Generalized Method of Moments (GMM) estimator. The GMM estimator result revealed that corporate size has positive and significant effect on firms value of listed non-financial worldwide companies in Nigeria with coefficient of 0.555 which is significant at 5% (p=0.00013), while debt ratio has negative and significant effect on firms value of listed non-financial multinational companies in Nigeria with a coefficient of -0.00867 which is significant at 5% (p=0.002). The study, therefore, concluded that consolidated financial reporting disclosure have significant effect on firms value of worldwide companies in Nigeria. The study recommends that managers of worldwide companies in Nigeria should begin voluntarily adopting consolidated financial reporting methods and also corporate annual reports in Nigeria should contain non-financial information about the company's long-term prospects as a way to educate stakeholders about the company's long-term viability as a going concern. [ABSTRACT FROM AUTHOR]