Sustainable Development and Performance, Financial Position and Market Value of Nigerian Quoted Companies
Journal of Economics and Sustainable Development
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Title |
Sustainable Development and Performance, Financial Position and Market Value of Nigerian Quoted Companies
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Creator |
Kasum, Abubakar Sadiq
Osemene, Olubunmi Florence Olaoye, Joshua Adeyemi Aliu, Atanda Olanrewaju Abdulsalam, Tunde Saka |
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Description |
The study is against the background that sustainable development practices may involve financial outflows and hence, may be an unattractive investment to managers. This study evaluated the impact of corporate compliance with accounting standards that are deemed to enforce sustainable development practices and can, therefore, imply sustainable development practices by companies, on profitability, financial position and market value of companies. Forty-four companies that have existed since standardization began in Nigeria in 1984 were studied over five years, using Pearson product moment and spearman's rank correlation statistical techniques. The correlations compared compliance to financial reporting standards on the one hand with financial performance, financial position and market value on the other. Results showed that sustainable development practices of companies are rarely associated with profitability. The practices are, however, shown to associate a little with better asset worth and improved market values.
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Publisher |
The International Institute for Science, Technology and Education (IISTE)
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Date |
2011-10-01
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Type |
info:eu-repo/semantics/article
Peer-reviewed Article info:eu-repo/semantics/publishedVersion |
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Format |
application/pdf
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Identifier |
http://iiste.org/Journals/index.php/JEDS/article/view/339
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Source |
Journal of Economics and Sustainable Development; Vol 2, No 4 (2011); 20-33
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Language |
eng
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Relation |
http://iiste.org/Journals/index.php/JEDS/article/view/339/228
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Rights |
Submission of an article implies that the work described has not been published previously (except in the form of an abstract or as part of a published lecture or academic thesis), that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, in English or in any other language, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication. Copyrights for articles published are retained by the authors, with first publication rights granted to the journal. The journal/publisher is not responsible for subsequent uses of the work. It is the author's responsibility to bring an infringement action if so desired by the author.
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