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Title: Firm Attribute
Description: "Firm attribute" refers to specific characteristics or qualities of a company that define its identity, operations, or performance. These attributes can vary depending on the focus of analysis but often include factors such as: Size: Measured by market capitalization, revenue, or number of employees. Industry: The sector or market the firm operates in, such as manufacturing, technology, or retail. Ownership Structure: Publicly traded, privately held, family-owned, or state-owned. Financial Performance: Metrics like profit margins, return on equity, or earnings per share. Corporate Governance: Board composition, leadership structure, and internal controls. Market Position: Competitive standing, market share, or brand reputation. Innovation Capability: Research and development (R&D), patents, or technological advancements. Corporate Social Responsibility (CSR): Environmental, social, and governance (ESG) initiatives. Geographical Presence: The markets or regions in which the firm operates, both locally and internationally. Risk Profile: The level of exposure to various types of risk, such as market, credit, or operational risk.
Description: "Firm attribute" refers to specific characteristics or qualities of a company that define its identity, operations, or performance. These attributes can vary depending on the focus of analysis but often include factors such as: Size: Measured by market capitalization, revenue, or number of employees. Industry: The sector or market the firm operates in, such as manufacturing, technology, or retail. Ownership Structure: Publicly traded, privately held, family-owned, or state-owned. Financial Performance: Metrics like profit margins, return on equity, or earnings per share. Corporate Governance: Board composition, leadership structure, and internal controls. Market Position: Competitive standing, market share, or brand reputation. Innovation Capability: Research and development (R&D), patents, or technological advancements. Corporate Social Responsibility (CSR): Environmental, social, and governance (ESG) initiatives. Geographical Presence: The markets or regions in which the firm operates, both locally and internationally. Risk Profile: The level of exposure to various types of risk, such as market, credit, or operational risk.
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AKSU Journal of Administration and Corporate Governance, Volume 3 Number 2, August 2023
Firm Attributes and Earnings Predictability of Listed Manufacturing Companies
in Nigeria
Ememobong David Johnson
Department of Accounting
Akwa Ibom State University
Email: mayon29@gmail
...
edu
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com
Phone: +234 8023227940
https://doi
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61090/aksujacog
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015
Abstract
Earnings predictability is a measure of how well the past earnings of a firm can explain its current
earnings
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The primary role of the financial statement is to disclose the financial
statement information to internal and external users in a timely and reliable manner
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The population of the study consisted of all the listed manufacturing companies
in Nigeria for the year ending 2021
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during the period 2017 to 2021 and whose financial statements are available and have been
consistently submitted to NXG for the period under study
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The firm attributes reviewed were
firm size, age, leverage and liquidity, while earnings predictability was measured by operational cash
flows on total assets
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The result revealed that firm age, firm size, firm leverage and firm liquidity
all have weak effects on the dependent variable
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It was recommended that
manufacturing companies should provide quality earnings reports stating the earnings per share,
operational cash flow, and total assets
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Keywords: Firm attributes, earnings predictability, listed manufacturing companies
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0 Introduction
Companies can be differentiated from each other based on certain attributes they possess
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These attributes are generally termed firm attributes
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Hassan and
Bello (2013) perceive firm attributes as those incentive variables that relatively are sticky at the
company's level across time
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Firm attributes can also be defined as the behavioural pattern of a company's operation which
can enable them to achieve their objectives throughout their operations
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They
are seen as factors that are mostly under the direct control of management and often account for interfirm differences in financial performance (Kazeem, 2015)
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These
attributes are reported by firms in their financial statements and send a message to various stakeholders
of firms about their performance (Abdullahi, 2016)
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Shehu & Ahmad (2013) surmise that they could also be categorized into firm structure (firm
size and leverage), performance (profitability, liquidity and growth) and monitoring (board composition
and institutional shareholding) attributes
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Similarly, Rabiu (2019) in a study on firm
attributes and share prices view firm attributes as profitability, growth, leverage, firm size, board size,
board gender, audit committee composition, audit committee meeting, and managerial and institutional
share ownership
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Earnings are important since they are used as the summary measure of a firm's performance
by a wide range of users
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Earnings are the summary
measure of firms' performance produced under the accrual basis of accounting
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, 2019; Francis, LaFond et al
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Dechow, Ge & Schrand (2010)
define earnings quality as the relevance of the fundamental earnings reported to the decision context of
users
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From an accounting perspective, earnings predictability is used as a measure to
complement value relevance, and it is a measure of earnings quality which is concerned with how well
past earnings can explain current earnings
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This sets the gap under investigation
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It is therefore
expected that the influx of investors into these productive sectors will increase, hence, the need to study
their earnings predictability in the manufacturing sector
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This is further reiterated by the International
Accounting Standard Board (2001) that the objective of a financial report is to provide information
about the financial position, performance and change in the financial position of an entity that is useful
to a wide range of users in making economic decisions
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However, a firm's attributes can help in providing relevant information for such a purpose
...
Given the
importance of a firm'
Title: Firm Attribute
Description: "Firm attribute" refers to specific characteristics or qualities of a company that define its identity, operations, or performance. These attributes can vary depending on the focus of analysis but often include factors such as: Size: Measured by market capitalization, revenue, or number of employees. Industry: The sector or market the firm operates in, such as manufacturing, technology, or retail. Ownership Structure: Publicly traded, privately held, family-owned, or state-owned. Financial Performance: Metrics like profit margins, return on equity, or earnings per share. Corporate Governance: Board composition, leadership structure, and internal controls. Market Position: Competitive standing, market share, or brand reputation. Innovation Capability: Research and development (R&D), patents, or technological advancements. Corporate Social Responsibility (CSR): Environmental, social, and governance (ESG) initiatives. Geographical Presence: The markets or regions in which the firm operates, both locally and internationally. Risk Profile: The level of exposure to various types of risk, such as market, credit, or operational risk.
Description: "Firm attribute" refers to specific characteristics or qualities of a company that define its identity, operations, or performance. These attributes can vary depending on the focus of analysis but often include factors such as: Size: Measured by market capitalization, revenue, or number of employees. Industry: The sector or market the firm operates in, such as manufacturing, technology, or retail. Ownership Structure: Publicly traded, privately held, family-owned, or state-owned. Financial Performance: Metrics like profit margins, return on equity, or earnings per share. Corporate Governance: Board composition, leadership structure, and internal controls. Market Position: Competitive standing, market share, or brand reputation. Innovation Capability: Research and development (R&D), patents, or technological advancements. Corporate Social Responsibility (CSR): Environmental, social, and governance (ESG) initiatives. Geographical Presence: The markets or regions in which the firm operates, both locally and internationally. Risk Profile: The level of exposure to various types of risk, such as market, credit, or operational risk.