IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 10 NO. 8 2024
DOI: 10.56201/jafm.v10.no8.2024.pg224.240

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CEO Attributes and Financial Statement Fraud of Non-Financial Firms Listed on Nigeria Exchange Limited

UDEZO Nathan O. (PhD) ; ANICHEBE A. S. (PhD) & IGBRU Oghenekaro (PhD)

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Abstract

This study investigated the effect of CEO attributes on the financial statement fraud of non- financial service firms listed on Nigeria exchange limited. The study has three specific objectives that included investigating the effect of CEO tenure, CEO ownership and CEO turnover on financial statement fraud of non-financial firms in Nigeria. The three hypotheses that were tested were formulated in accordance with the objectives established. The study covered a period of ten years from 2012 to 2021 and adopted Ex-post facto research design. Secondary data were collected from the annual reports of the firms and sample of 68 firms were drawn from the population of 106 firms listed under non-financial service firms, using a purposive sampling technique. The data generated were analysed with descriptive statistics, correlation and panel regression technique which gave the findings that; CEO turnover have inverse statistical significant effect on financial statement fraud of non-financial firms at 1% level. Meanwhile, CEO ownership have positive insignificant effect on financial statement fraud of the sampled firms while, CEO tenure has positive and no significant effect the financial statement fraud of non- financial firms listed on Nigeria exchange limited. The study therefore recommended amongst others shareholders should relieve the CEOs their duties on the event of continuous underperformance as a way of corporate modification, otherwise CEO turnover at the point of exhausting the service periods helps reduce the occurrence of financial statement fraud across the firms studied.

keywords:

Financial Statement Fraud, CEO Ownership, CEO Tenure, CEO Gender

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