Asian Journal of Empirical Research

Financial reporting quality and disclosure on stock price of listed deposit money banks in Nigeria

Adeleke Abdulyekini Adebanjo — 2024-10-01

Due to the lack of a regulatory framework, financial scandals, fraud and poor disclosure in financial reports, investors and other stakeholders lose confidence in the firm's performance, which could lead to lower share prices. Investors and financial analysts who have noticed the impact of accounting quality and disclosures on stock prices have necessitated this study. This study looked at the impact of financial reporting quality and disclosure on the stock price of listed deposit money banks in Nigeria. The study made use of secondary data gathered from the annual report of listed DMB in Nigeria. The data generated were analysed using descriptive statistics, correlation analysis and Panel ordinary least square regression to understand the degree of relationship among the variables. A correlation matrix was carried out to test for multi-collinearity within the selected variables. Findings revealed that the combined effect of financial reporting quality and disclosure has a positive and significant impact on the stock price of listed deposit money banks in Nigeria. The study thereby recommends that for financial institutions to achieve sustainable performance levels, they should ensure that they meet stakeholders’ demands, which mainly rest on accounting information comprehensiveness and quality. Furthermore, the quality of accounting should be improved by ensuring companies adhere to accounting standards and financial regulations regarding disclosures.

The relationship between institutional quality, industry, energy sources and environmental quality in Bangladesh: Insights from ARDL analysis

Mohammad Mokammel Karim Toufique — 2024-12-02

This study examines how institutional quality, industrial activities, energy sources, and environmental quality are connected in Bangladesh, with a particular focus on CO₂ emissions from 1990 to 2015. The research aims to evaluate how these factors contribute to environmental sustainability. Using five autoregressive distributed lag (ARDL) models, the study investigates both short- and long-term connections between CO₂ emissions, gross domestic product (GDP), industrial growth, and electricity generation from different sources. It also employs the Toda-Yamamoto Granger causality test to uncover the causal links between the variables. The findings reveal that higher institutional quality helps reduce CO₂emissions, while economic growth and a reliance on nonrenewable energy increase emissions. This study provides a fresh viewpoint, showing the key role of institutional quality in promoting environmental sustainability, which contrasts with some earlier research. For policymakers, the research highlights the importance of strengthening institutional frameworks, enforcing environmental regulations, and advancing the use of cleaner energy and sustainable industrial practices. These steps are essential for supporting sustainable development in Bangladesh.

Financial inclusion and knowledge diffusion for green growth in Sub-Saharan African countries

Mba Fokwa Arsene — 2024-12-02

This article examines the associated and interactive effects of financial inclusion measured through financial inclusion index and knowledge diffusion, measured through research and development (R&D), internet usage, and education, on green growth measured by CO2 emissions intensity due to production, in Sub-Saharan Africa. Based on a sample of 36 countries and data spanning the period from 2004 to 2018, the analysis employs POLS, Newey & West, and Driscoll & Kraay estimation methods. The findings reveal that financial inclusion, R&D, and internet usage exacerbate CO2 emissions intensity from production, thereby hindering green growth. Conversely, education plays a positive role by reducing production-related CO2 emissions and promoting sustainable practices. Education improves green growth, yet knowledge production through R&D deteriorates green growth when interacting with financial inclusion. Similarly, internet usage, when it interacts with financial inclusion, harms green growth. These results indicate that financial inclusion, R&D, and internet usage negatively impact green growth by increasing CO2 intensity related to production. The study recommends better alignment to green financial inclusion, sustainable R&D, and digital policies with environmental sustainability objectives while advocating for the promotion of environmental education to support green growth. To maximize sustainable development benefits, Sub-Saharan African countries need to adjust their development strategies by incorporating greener practices into financial inclusion, R&D, and digital technologies.