NAME: FATOKI OLADEJI JAMIU

MATRIC NO: 22/3357

TOPIC: THE IMPACT OF FINANCIAL REPORTING ON INVESTMENT DECISIONS OF SMALL AND

MEDIUM ENTERPRISES IN NIGERIA
S/ NAME(S) OF TITLE FINDINGS METHODOLOGY GAPS
N AUTHOR & YEAR
1 Nwaobia A. N Financial The study reveals the This study used an ex- Further study should
Kwarbai J. D. Reporting impact of financial post facto research focus on prior studies
Jayeoba, O. O. Quality on reporting quality (FRQ) on design, extracting that examine the
Ajibade A. T Investors’ investment decisions in secondary data from effect of Financial
Decision Nigerian manufacturing annual reports and Reporting Quality
2016 firms from 2010-2014. accounts of ten (FRQ) on investment
Results show that higher companies from 2010- efficiency
reporting quality increases 2014, using a purposive
investment decisions, with sampling method from
firm size, growth rate, and 186 listed firms on the
positively influencing Nigerian Stock Exchange.
decisions.
2 Omoregie Financial The study reveals Nigerian The study involved 50 They excluded
SMEs prefer two sets of Auditors, Financial accounting policies,
N.A.E.,Adepar Reporting By
GAAP for financial Analysts- Stockbrokers, value added
ubi Small and reporting, with the current and Financial Statement statements, notes on
single set being preferred Preparers, using a survey accounts, and
O.O. (B.Sc), Iboi P. Medium Scale
with some exclusions. The method with five Likert- directors' reports
E. (B.Sc) 2014
Enterprises in study recommends scale response options, from their financial
improvements to reduce and analyzed using statements.
Nigeria
weaknesses in the current actual response analysis,
system. problem analysis,
percentage analysis, and
chi-square.
3 Teresa Multi- criteria The article reveals a The article uses the AHP The further project
Krassowsk,J method for assessing and method to assess FA should focus is
evaluation of
arosław choosing financial and systems for small and research on financed
Beckera,An eta, financial and accounting systems (FA) for medium- sized within the framework
Becker,Paw eł small and medium-sized enterprises, focusing on of the program of the
accounting
Ziemba 2022 enterprises using the function advancement, Minister of Science
systems Analytic Hierarchy Process, configuration flexibility, and Higher Education
focusing on function ergonomics, service under the name
intended for
advancement, scope, and costs. "Regional Excellence
small and configuration flexibility, Initiative" in the years
ergonomics, service scope, 2019-2022,
medium-sized
and costs, emphasizing the
enterprises importance of accurate
information.
4 Clement C. M. Financial The research reveals the
adoption of International
Ajekwe& Adzor Reporting for
Financial Reporting
Ibiamke 2020 Small and Standards (IFRS) by
Nigerian SMEs, highlighting
Medium-Sized
their economic importance
Enterprises globally and in Nigeria. It
discusses the advantages
(SMES) In
and challenges of adopting
Nigeria IFRS, highlighting the
importance of SMEs in
income generation.
5 Siti Aisyah Tri Investment The study explores the
Enterprises influence of debt ratio,
Rahayu
Decision In internal capital, cash flow,
2013 Micro, Small inflation expectations, and
And Medium rupiah exchange rate on
Enterprises In investment decisions in
Indonesia Indonesia's real sector,
highlighting the
government's stimulus
packages and
infrastructure investment
policies, but still facing
financing challenges.
6 Charles EZEAGBA Financial The study reveals Nigerian
2017 Reporting in SMEs face challenges in
Small and financial accounting
Medium reporting due to
Enterprises insufficient books,
(SMEs) in manpower, and systems. It
Nigeria. recommends free
professional services from
ICAN and ANAN,
emphasizing the
importance of sound
accounting and internal
control systems.
This research uses
literature on financial
reporting by private
interest entities,
particularly the use of
IFRS for SMEs in Nigeria.
This study uses small and
medium-sized
enterprises in
Yogyakarta Special
Province, Indonesia, and
investigates funding
sources through surveys
of major financial
institutions in the region.
The study uses Nigerian
SMEs face challenges in
financial accounting
reporting due to
insufficient books,
manpower, and systems.
It recommends free
professional services
from ICAN and ANAN,
emphasizing the
importance of sound
accounting and internal
control systems.
This paper
therefore
recommends
further empirical
“ex post facto”
research to access
the impact of the
adoption of IFRS
for SMEs on
financial reporting
by unlisted
Nigerian enterprises.
Further research is
needed to promote
real sector
investment in a
conducive
macroeconomic
environment,
including stability of
exchange rates and
inflation rates.
The study did not
look into the Nigerian
small and medium
enterprises (SMEs)
challenges in adapting
to effective
accounting reporting.
7 Amenawo I. Financial The study reveals a The study uses an Further scientific
negative correlation exploratory research research could be
Offiong risk and
between financial risk and design to compare carried out to
,Chris O. performanc the long-term performance theoretical prepositions ascertain the effect
of Nigerian SMEs, with with empirical findings, (positive or negative)
Udoka,Jame s e of small
exchange rate, liquidity, primarily utilizing of enterprise risk or
Godwin Bassey and interest rate, and inflation secondary data from the other forms of risk on
risks having significant Central Bank of Nigeria SMEs` performance in
2022 medium
negative impacts. from 1986 to 2017. Nigeria.
enterprises
in Nigeria
8 Kanu Small and The study evaluates The survey research Adoption of IFRS by
Nigerian SMEs' readiness to utilized a questionnaire SMEs should
Clementina, Medium
adopt International to gather respondents' enhance fair value
PhD; Onuoha Enterprises in Financial Reporting perceptions on Nigerian reporting instead of
Standards despite SMEs' readiness to adopt historical reporting
Nnachi, Egwu; Nigeria and
challenges like poor IFRS, considering their in further review.
Gabriel Isu Adoption of governance, transparency, issues.
and incomplete records. It
2008 International
recommends IFRS adoption
Financial for improved
accountability,
Reporting
transparency, and financial
Standards reporting quality,
emphasizing SMEs'
importance in developing
economies.
9 The Impact of A Nigerian study reveals The research uses the Further review should
OWUALA that increasing interest analyzed the mission and focus government
Financial Crisis
H, Sunday I. rates and inflation vision statements of the perceptions, policies
on Small and negatively impact SMEs' fifty top-performing U.S. that don't support
(PhD)
access to credit through private companies, them, and political
Medium Scale
OHADEBERE commercial banks, classified as "America's manipulation by
Enterprises suggesting the need for the Largest Private politicians.
Emmanuel
Nigerian government to Companies" by Forbes
Access to
Chukwuem eka implement policies Magazine Special Report.
Credit in promoting flexible credit
2019
facilities and improved
Nigeria
lending capacities.
10 Obokoh, Examination of The study reveals Nigeria's The study utilized a The proper
the Relationship economic liberalization, mixed method of data functioning of the
Lawrence
implemented in 1992, and collection and analysis, financial market and
Ogechukwu between its impact on SMEs. It combining quantitative efficient allocation of
Financial reveals that financial and qualitative financial resources
(ACA)
Market
market liberalization partly approaches, including require government
2012 contributed to SMEs' questionnaire surveys intervention, which
failures, highlighting the was not considered.
 Liberalization need for a more nuanced and semi-structured
and the Failures understanding of the interviews.
policy's implications.
of Small and
Medium Sized
Enterprises in
Nigeria
11 Mohammed Compliance The study reveals that The research uses Further research
DANJUMA with Company financial reporting quality Sample correlation should be more on
significantly impacts matrix testing was done CAMA
(PhD), Peter TERU and Allied Nigerian SMEs' for multicolinearity
(PhD), Musa JERRY Matters Act performance, accounting issues.
(PhD),Rukaiyatu (CAMA)
for 39% of variance and
61% of firm performance. It
Adamu Evincing recommends enforcing
2019 Financial compliance with statutory
and regulatory frameworks
Reporting
by stakeholders like
Quality Impact SMEDAN and CBN.
on Performance
of Small and
Medium
Enterprises
(SMEs) in
Nigeria.
12 Amahalu, Nestor Effect Of The study found that The study adopted the Further study should
Ndubuisi and Obi Financial Financial Statement Quality Ex-post Facto research focus on financial
Juliet Chinyere Statement significantly influenced design to determine the reporting fraud and
2020 Quality On Investment Decisions of cause-effect relationship scandals that might
Investment Nigerian Deposit Money among the variables of hinder effective and
Decisions Of Banks from 2010-2019, the study informed investment
Quoted recommending the decision making by
Deposit Money publication of financial investors and other
Banks In statements to attract users of these
Nigeria investors and boost public Statement
confidence.
13 Onodi Benjamin Effect Of The study examined the The survey research Lack of accounting
Ezugwu Udeme Financial influence of financial technique was adopted knowledge and the
Enobong Eshiet Reporting On reporting on managerial in carrying out this cost of employing
Managerial efficiency in Nigeria's small research work. experts inhibit the
2017 Efficiency Of and medium-sized majority of small and
Small And enterprises, utilizing 170 medium scale
Medium registered companies in businesses to manage
Anambra State, despite
 Enterprises In 18% of completed their accounting
Nigeria questionnaires being information.
unretrieved.
14 Shamim Akhtar, SMEs’ Use Of This study examines the The survey used was This study has
China Yanping Liu, Financial influence of experience, sample of SMEs from limitations, including
2018 Statements For knowledge, and ability on Lahore (Pakistan) a limited global
Decision 94 Pakistani SMEs' use of perspective on small
Making: financial statements in and medium
making significant financial enterprises' financial
decisions, highlighting their statement practices, a
significant role in SMEs' lack of correlation
success. between financial
statement use and
cost-effectiveness,
and a small sample
size. Further research
should explore these
aspects and consider
longitudinal studies
for more
comprehensive
insights.
15 Bayar Gardi, Investigating This study examine the We used a structured Further study should
Pshdar Abdalla the effects of impact of financial questionnaire to collect focus on a statistical
Hamza, Bawan Financial accounting reporting on data to evaluate the framework in their
Yassin Sabir, Accounting management decision- relationship between computational
Hassan Mahmood Reports on making in small and dependent and models has confirmed
Aziz, Sarhang Managerial medium-sized companies independent variables management
Sorgulie, Nabaz Decision in Iraq, focusing on the mediating through the decision-making as an
Nawzad Abdullah, Making in income and cash flow mediator variable. important element
Farhad Rafaat Ali Small and statements, which are affected by financial
Al-Kake. Medium-sized essential for tracking efficiency
Enterprises financial transactions.
2021
16 Crispus Ndungu The Studies show that a firm's The chapter discusses Further study should
Karanja. Relationship financial performance is research methodology, explores the
Between influenced by individual including research correlation between
2012 Investment firms' investment decisions design, target investment decisions
Decisions And population, sampling, and financial
Financial data collection performance of SMEs,
Performance instruments, data suggesting
Of Small And analysis, and comparisons between
Medium Scale presentation format, large companies and
Enterprises systematically solving examining book
research problems. keeping's impact on
performance.
17 AMEDU, MERCY Role Of The study disclose matters The study hypothesizes The researcher faced
A. Financial concerning their operations that financial statements challenges in their
 2012 Statement In so as to aid investors in are not reliable in research, including
Investment making investment investment decision uncooperative
Decision decisions because making, are not useful respondents, time
Making. Investment decision for forecasting company and financial
makers rely on information performance, determine constraints, and
obtained from financial profitability, or project limited access to
statements to predict new investors. It also various branches and
future rates of return suggests that financial organizations due to
statements may not project and academic
accurately predict a work. Further
company's profitability. research could look
into this.
18 Sanyaolu, W. A, Financial The study examines the An ex post facto The further study
Odunayo Jimoh, Statement effect of financial research design was should focus more on
Akintan, I. O. & Analyses and statement analysis on adopted by sourcing debt-to-equity ratio
Ogunmefun G.T. Investment investment decision of data from the annual (DER) positively
Decision of Nigerian deposit money reports and accounts of influences investment
2020 Nigerian Banks banks. the ten sampled bank decisions.
19 Isam Saleh, Disclosure of The study examines the The research uses the The further study
Nawaf Alghusain Financial influence of financial Jordanian commercial should focus on
Statements information on investment banks' annual financial significant statistic
2018 and Its Effect decisions in Jordanian statements positively relationship between
on Investor’s commercial banks, influence Amman the items of the
Decision revealing a weak positive Exchange investors' financial tools and its
Making in correlation, emphasizing investment decisions, degree of disclosure
Jordanian the need for due diligence but no significant in the Jordanian
Commercial in financial statement statistical relationship commercial banks’
Banks preparation. exists between financial annual financial
tool disclosure. statements.
20 Adeniji, Yisa. A., Performance The study disclose The study adopted a The further study
PhD and Adekoya, Reporting And Corporate investment survey research design should focus on
Olufemi, PhD Corporate decisions significantly to gather data. Survey impact of a
Investment impact a company's method was adopted to performance
2021 Decisions performance, influencing collect primary data reporting system on
Among macro and micro aspects, from the respondents. corporate investment
Selected Non- influencing GDP volatility decision among the
Financial Firms and boosting individual listed non-financial
In Nigeria company growth and firms in Nigeria.
efficiency.