An empirical assessment of performance of firms in the Nigerian cement industry Department: Accountancy By: opc123 Project ID: 499 Rating: (2.4) votes: 17Rate this project12345 Price:₦3000 Get the Complete MaterialAbstractThis study focuses on the performance assessment of cement companies in Nigeria. To achieve this objective four cement companies that are quoted on the Nigerian Stock Exchange are selected for a detailed performance analysis. They are Ashaka Cement Plc, Benue Cement Company Plc, Cement Company of Northern Nigeria Plc and West African Portland Cement Company Plc. The problem of this study stems from the perceived trend of the Nigerian capital market. Despite its indispensable role in the nation’s existence the cement industry in Nigeria has not been able to attract much needed investment. It is therefore pertinent to find out whether the cement companies are performing to the extent of meeting the expectations of the various stakeholders in Nigeria. The assessment is carried out through the application of the known financial risk indices with a view to highlighting the efficiency of the various aspects of the operation of the selected cement companies. To this end, Osaze’s version of the Discriminant Analysis Models which is more relevant to the situation of the developing countries like Nigeria is used to assess the selected cement companies in this study. The historical method of research is adopted for the study and the main source of data is the cement company’s financial statements covering the ten-year period (1993– 2002). It was found out that the cement industry in Nigeria has not shown a performance attractive enough to induce investors. The industry obviously needs the injection of fresh capital but, much more, the introduction of better management methods. Parts of the recommendations are that the government should assist the cement companies to be operating at full capacity instead of allowing the importation of foreign products. ...Preview Download Preview +Other Accountancy project topics and materials you might be interested in»The Impact of Accounting Ratio in Decision Making ( A Case Study of Nigeria Breweries Plc Enugu) »The impact of budget and budgetary control in tertiary institutions ( A Case study of imo state university )»Internal control as a tool for improving profitability»The role of financial institutions in the development of Nigeria economy»Impact of computerization of accounting system of commercial banks ( A case study of union bank plc )»The Impact of product development on banks performance ( A Case study of first bank plc )»Role of good accounting system in the management of private enterprise in Nigeria ( A Case Study of Nwaogo pam paper mills limited )»Effects of standard costing on the profitability of manufacturing companies (a case study of nigerian breweries plc, Ama, Udi local government of Enugu state) »The role of accounting system in measuring organizational performance of transport company ( A Case study of ABC Transport )»Auditing in Nigeria companies, problems and prospects»The effects of computerized accounting system on the performance of banking industry in Nigeria»Effective internal control as an aid to management efficiency ( Case Study of Nigeria Bottling Company Owerri )»Effect of misrepresentation of information in a financial statement»The impact of development finance institutions (DFIS) in economic development of Nigeria»An appraisal of fraud prevention measures in Nigerian banking sector ( Case study of access bank plc owerri )