Interactive Sonification of Synchronisation †MyAssignmenthelp.com

Question: Talk about the Interactive Sonification of Synchronization. Answer: Presentation: Coaching is generally an understanding between the guide and the protg whereby its tendency involves the mentorship choosing the substance to be scholarly and the counsel of the tutor (Wu, Turban, and Cheung, 2012, pp. 51). The contextual analysis is on Intel Company-an innovation firm that makes semiconductor chips for PCs that utilizes peer organization in its tutoring project and Deloitte Company-a firm that offers proficient administrations, for example, inspecting, charge, and different administrations identifying with fund which utilizes regular coaching in the work environment. The two firms have likenesses in the coaching technique that they embrace. Them two target affecting the workers with the abilities fundamental inside the association and improve maintenance of the representatives (Arora and Rangnekar, 2014, pp. 205). Deloitte point is to guarantee that the lesser workers can explore their way into the firm consequently improving maintenance and arrangement according to the association while Intel focuses at expanding information move of the representatives and spread aptitudes which have an appeal in the firm. The coaching program guarantees that the organizations hold their representatives by keeping them at work and upbeat. Guaranteeing that the new representatives secure the necessary abilities improves the profitability of the firm because of inspirations made during the mentorship program. In any case, the two techniques for mentorship embraced by the two firms have contrasts. In the first place, the ordinary coaching path utilized by Deloitte is as a rule for a focused on period after which it is ended, yet the relationship can be held by the members (Srivastava, 2015, pp. 430). As indicated by the firm, every member is appointed an executive who is submitted for in any event two years to help the protges to drive their vocations by obtaining abilities. According to the companion association tutoring strategy applied by Intel, it includes two representatives who are equivalent matured as opposed to having a senior worker coaching the youngsters and is durable. The lesser representatives are combined with people with comparable experience and are now in the firm. As indicated by Intel, the representatives are permitted to drive their mentorships and partner with a responsible number of different workers, embracing a coaching society in the firm. The two coaching strategies too vary from peer association utilized by Intel Company includes framing a care group that tutors each other by thinking about issues and difficulties which are current. As to issues, the group profits key counsel and applicable data to one another, accordingly expanding the degree of connection between this representatives (Heinrich, and Oberleitner, 2012, pp. 7). In any case, the regular tutoring technique utilized by Deloitte Company makes a circumstance of an educator understudy situation, which includes following objectives, rules, and the calendar of the gathering of the gatherings. The tutor coordinates the protge on everything that they are qualified for do inside the setting of the association without them giving any commitment as they are following the set down objectives of the firm. Subsequently, there is little touch between the new worker and the coach which brings about a substandard connection between the representative and the executives. The framework map gives the Insurance Companys significant level standpoint of the application portfolios which are generally regular to all protection firms. It expects to give the primary usefulness contributed by every component (Fesperman, et al., 2012, pp. 519). It also gives a structure of correspondence to innovation groups and different partners. The Head of the Department recruits graduate understudies in a circumstance where the remainder of the laborers are completely occupied with explore constraining the alumni to be exhausted to continue with the exercises of the firm. Absence of collaboration with different representatives makes a circumstance of ignoring (Barrales?Molina, Bustinza, and Gutirrez?Gutirrez, 2013, pp. 572). The alumni understudies need satisfactory preparing on the errand which they should perform. Lacking inspiration from the administration also prompts less viability in their exhibition. Every one of these elements all consolidated cause the new representatives to feel worried up with the undertakings, in the long run leaving the place of employment. The idea of an organization involves the relationship of individuals, generally framed for a typical reason, and sharing benefits that emerge from the business. The reference is on TwetSepta Construction Company that manages the development of structures and streets (Tyagi, 2013, pp. 5). The organization is confronted with the issue of one of the essential individuals needing to stop the firm because of what he considers as indiscreet administration and which should be settled with desperation by trying the undivided attention procedure. The strategy targets understanding the perspectives and the sentiments of the included party and finds an answer for the issue. To explain the issue, I would set a gathering with the part, and as the discussion happens, consideration is paid as they present their concern in regards to what causes them to feel that the organization isn't overseen likewise. When the gathering is set, nonverbal signals utilized by the part to communicate their emotions are noted as they present an arrangement of data with respect to what they feel (Bodie, 2012, pp. 110). Making an eye to eye situation makes a superior chance to decide the disturbance, through articulation according to the part to decide the reality of the circumstance as indicated by them. The spotlight is to be made on each word said to comprehend the circumstance. The part may be not able to introduce all the subtleties yet thinking about their nonverbal signals, extra data can be achieved. Negligible interferences are important. Focusing first to the part without interferences makes a superior comprehension of the issue. As a rule, at this occurrence, it is incautious to get ready reactions, yet rather thought is first given to the focuses expressed. To be in a situation to get a handle on all the complaints, a receptive methodology is suitable, by first retention judgment. As the part presents the circumstance, analysis ought to be held, including selling the purpose of the part at that example (Weger, et al., 2014, pp.14). Fair inquiries are posed to be in a situation to gain extra insights concerning the circumstance. Thinking about the feelings saw by putting down the individuals head contentions in basic yet clear configuration is vital for re-setting out while conveying the judgment on the circumstance. Simultaneously, sharing of thoughts and sentiments with the part dependent on the case is essential as it speaks to the administrators contemplations. When all the data with respect to the issue has been gathered, a synopsis is finished by uniting the real factors and all the pieces identifying with the circumstance to calculate the comprehension and what should be done about it. Approval of the issue is important which can be accomplished by reacting to the issue as needs be and curiously. As the ideal objective of listening is to hear what is stated, input and inevitably a suitable reaction to the circumstance is vital (Varni, et al., 2012, pp. 158). Subsequent to recognizing the legitimacy of the considerable number of information introduced, a fair answer on the most proficient method to address the administration issue would be best appropriate to the part and the whole association as judiciousness is kept up for the accomplishment of the association. An answer that would suit the firm in general would be useful for selection, for example, thinking of a board of trustees that would every so often predict the degree of the boar d, to guarantee that it satisfies the vital guidelines dictated by the objectives and the targets of the association. Consequently, guaranteeing that all individuals are happy with how the firm is hurried to accomplish its goals. The TwetSepta Construction Company has a business suggestion to develop a private loft of thirty independent rooms. The proposition is unreasonably significant for the association, and there is have to win the agreement. Exchange is essential as it deals with the interests of the customer and the office. As a chief, applying the exchange procedure, I would do the accompanying to guarantee that the organization isn't bolted out of the suggestion. Rehearsing to be a decent audience is significant as the specialist not just needs to see that the administrator is tuning in yet in addition pondering what they are told. It involves the utilization of outward appearance, development of the head, and stance during the exchange procedure (Odell, 2012, pp. 380). Eye to eye connection ought to be kept up and no interferences until the possibility is finished introducing their arrangement and approaching inquiries for any explanation. The inquiries ought to be receptive, for example, while talking about the cost, accentuation may be on past works of your customers for affirmation that quality would coordinate the cost. While arranging the recommendation, the objectives set by TwetSepta Company ought to be explicit, high, and even significantly challenge. For instance, TwetSepta by taking up the proposition was certain that it would cut the expense of the task by 20%. In any case, it haggles at a greater expense or change in the course o f events. By playing to the feelings of the possibility, it assurances to a specific rate that you get the agreement. For instance, TwetSepta Company may underline on the current relationship with the customer or the fervor of the organizations group in working with the client. Thus, this would draw the customer to take up the organization for the venture (Craver, 2012, pp. 30). By making sure about the possibility, it implies that the customer would profit by working with the organization. Thus, the accentuation is to be made that the associations comprehend their set measures and quality for their lofts, and have the correct aptitudes that the possibility is searching for. The chief ought to comprehend also accentuation on the earnestness of the undertaking. F

How to Format Block Quotations

The most effective method to Format Block Quotations The most effective method to Format Block Quotations The most effective method to Format Block Quotations By Mark Nichol A square citation is a particular assortment of type set off from the default content (additionally called the running content), generally recognized by inclusion of line spaces above and underneath and designing of a smaller edge (and now and again even kind of an alternate point size or an unmistakable textual style). When recreating composed content from another source, consider setting the cited material off from the remainder of the substance in a square citation on the off chance that it is in excess of a hundred words in length. comprises of more than one section. is comprised of various shorter sections (so it would look like an indented list without numbers or shots). establishes a letter or other correspondence, complete with greeting, signature, and so forth, or another kind of templated structure. requires any exceptional organizing. Notwithstanding, decide if it may be smarter to just summarize a long citation in at least one typical sections with maybe some incomplete citations when expressions ought to be recreated verbatim. At the point when the main line of each section in the running content is indented, square citations of a solitary passage, and the first of numerous passages, are not indented, yet ensuing ones ought to be. At the point when passages in running content are recognized not by space however by line spaces, follow a similar organization in square citations. On the off chance that the square citation is embedded in a confining passage that proceeds after the citation, don't indent the principal line of the remainder of the section. On the off chance that passages are set off by line spaces, another section that quickly follows a square citation ought to be isolated from the citation by two line spaces with the goal that the new section isn't confused with a continuation of the section in which the citation is embedded. At the point when a square citation is the continuation of a basic sentence, use accentuation or capitalization (or a deficiency in that department) appropriately. For this situation, the citation is a continuation of the presentation, so no accentuation or capitalization is vital: â€Å"The essayist depicted the phantom as a tall, meager apparition of translucent constitution, as though made of smoke . . . .† (Note additionally that a square citation isn't encased in quotes; it is accepted that such a passage is cited material.) On the off chance that the principal expression of the cited material had initially been promoted (â€Å"A tall, meager phantom . . .†), quietly right it, as above; it’s not important to point out the change, as is now and then done in specific settings (â€Å"[a] tall, slim apparition . . .†). A lead-in line comprising of a total provision, and the main expression of the accompanying citation, ought to be dealt with something else: â€Å"The essayist depicted the nebulous vision as follows: It was a tall, meager apparition of transparent constitution, as though made of smoke . . . .† Similar guidelines hold for run-in citations (those that are absorbed into the running content): â€Å"The sage says that ‘a idiot and his cash are soon parted.’† (Though the aphorism, remaining solitary, would start with a capitalized an, it is a piece of the surrounding sentence here and must be lowercased; on the other hand, you could compose, â€Å"The sage says, ‘A blockhead and his cash are soon parted.’†) In the event that the essayist wishes to alter or remark on a citation, a few procedures are accessible: To explain that a typographical blunder is in the first, embed sic (Latin for â€Å"thus,† or â€Å"so,† and meaning â€Å"as initially published†), stressed and in sections, after the offense. Fare thee well, be that as it may, not to utilize this term as a literary grin, and if the citation is brimming with capricious, obsolete, or variation spelling, an illustrative note before the citation is desirable over a citation more than once hindered by [sic]. At the point when you don’t need the whole citation to represent a point, you may erase superfluous entries and demonstrate the elision with ellipsis focuses. Be that as it may, it isn't important to go before or follow an entry with ovals to show that you are not repeating the whole content from which the extract is determined; the peruser will accept this. On the off chance that you should offer remark or explain a point, encase the note in sections, however be as brief as could be expected under the circumstances, or give a more extended logical note outside the citation. On the off chance that you wish to underline at least one words or expressions, follow the citation with the parenthesized note â€Å"Italics added† or â€Å"Emphasis mine,† or the other way around. Be that as it may, a citation with surviving stress ought to be dealt with in an unexpected way: Insert the remark in sections quickly following your accentuation. Need to improve your English in a short time a day? Get a membership and begin accepting our composing tips and activities every day! Continue learning! Peruse the Style classification, check our mainstream posts, or pick a related post below:16 Substitutes for â€Å"Because† or â€Å"Because Of†How to Punctuate Descriptions of ColorsTitled versus Entitled

Individuals Belief In Self-determination And Personal Growth - 550 Words

Individual's Belief In Self-determination And Personal Growth (Essay Sample) Content: Student’s Name Professor’s Name Course Submission Date Believe in Determination Ryan, a scholar in the field of psychology, defines determination as having the motivation to pursue challenges for own sake (848). Determination entails not only having the strong will to accomplish a particular task but also making informed decisions, learning to find solutions for specific problems, and taking responsibility for one’s life (Ryan and Deci 5). Often, I question the number of people who set goals or plan to achieve a particular thing in life but end up giving up and being frustrated. Over the years, I have realized that my success heavily depends on the day to day activities, attitude towards life, and the initiative that I take to solve particular problems. I believe in being determined not only because of my elder’s constant advice but also due to the experiences that I have gained since I was a child. However, it does not imply that I have never lost hope, felt frustrated, or lacked the drive to accomplish set goals. At my age, I derive pleasure in p erforming challenging activities such as hiking, athletics, and biking because I believe in self-determination. I believe if I am determined to do something, I should go for it because failure to do so may be a loss of a lifetime opportunity. Every moment I have a brief flashback of either my childhood or teenagehood, I get reasons to set even higher goals for myself. For instance, I can ask myself, â€Å"Does riding a bike for four hours have a positive impact on my life?† Once I figure out that indeed I will benefit from the activity, I go ahead and bike as the first huddle to cross before achieving that strong physique. In the past, I have accomplished so many things that I considered as impossible as out swimming a whale. While growing up, I experienced difficulties viewing life in general from a positive perspective. However, today I show gratitude to my parents who believed in me and took an active role in instilling basic life skills. Participating in some physically challenging activities such as biking helped me to believe in self-determination. I started biking at a tender age of four. I would get back home from school, munch a light meal to be on the same page with my loving mother and rush to the backyard to get my green bicycle. My teenage friends who were always waiting for me outside our gate would puff up the experience to make it more exciting and increase competition. Thus, I developed a lot of passion for the activity which made me join races to showcase my talent. These events required motivation, self-discipline, persistence, and self-determination. In as much as life huddles were inevitable, I made a conscious decision always to find a solution or an alternative way of accomplishing specific tasks, objectives, and goals. As biking became a part of my life, I decided to invest my skills and talent in hiking and athletics. These two activities were challenging at the initial stage, but that did not deter me from working towards my dreams. I once biked up Mount Hamilton which is one of the hardest road bike routes since you have to climb over 3000 feet with an average slope of 6%. I remember one of my friends gave up and sat down during the ride because of the scorching sun and rugged terrain that made...

The Purpose of the Biblical Flood narrative - 1977 Words

The Old Testament can be described as â€Å"an anthology of the literature of ancient Israel and early Judaism† (Coogen 2008) that contains many forms of writings and stories which address not only myth, main historical events and laws, but also those that follow the Israelites unique relationship with God. The first book of the Old Testament is known as Genesis, which is highly concerned with the world’s creation and its initial stages. It is also the origin of the biblical Flood Narrative concerning Noah and the Ark. The story is characterised by a man that is instructed to build an ark under the guidance of God, and take with him family members and pairs of animals, to survive a catastrophic universal flood. â€Å"The flood narrative belongs†¦show more content†¦Ea, a god that is unhappy with the idea of flooding the world, secretly instructs Utnapishtim to build a boat and to take with him animals in order to survive the impending flood. â€Å"Tear down the house and build a boat! Abandon wealth and seek living beings! Spurn all possessions and keep alive living beings! Make all living things go up in the boat! The boat which you are to build, its dimensions must be equal to each other:† (The Epic of Gilgamesh, Tablet XI). Similarly God says to Noah; â€Å"I have determined to make an end of all flesh, for the earth is filled with violence because of them; now I am going to destroy them along with the earth. Make yourself and ark of cypress wood; make rooms in the ark, and cover it inside and out with pitch. This is how you are to make it:† (Gen 6:13 - 15, NRSV). Later in the chapter God reveals to Noah; â€Å"For my part I am going to bring a flood of water to the earth† (Gen 6:17, NRSV) and instructs Noah to bring into the ark â€Å"of every living thing, of all flesh, you shall bring two of every kind into the ark, to keep them alive with you:† (Gen 6:19, NRSV). Another example of the parallels within each story is the description of everything being submerged by water. In the Epic of Gilgamesh it reads â€Å"The sea calmed, fell still, the whirlwind (and) flood stopped up. I looked around all day long – quiet had set in and all the human beings had turned to clay! The terrain was as flat as a roof.† (The Epic of Gilgamesh, Tablet XI). TheShow MoreRelatedGENESIS AND ANCIENT MYTHS OF THE NEAR EAST930 Words   |  4 PagesWhen one approaches the biblical text, it is important to explore the cultural context in which the text occurs. With regard to the Book of Genesis, it is important to examine the writing with other contemporary works of similar geography and topics. The people of ancient Mesopotamia, where the oldest civilizations originated, produced a number of stories of creation and natural occurrences. It is important to note that many of the stories of the Sumerians, Akkadians and Hebrews began as oral traditionsRead MoreGod s Fourth Speech With Noah1328 Words   |  6 PagesNoah from all the floodwaters and never again to destroy earth by flood. In this case the covenant is asymmetrical, emphasizing the promises of the stronger party in God. Context (world behind the text) - (historical, cultural, social, personal to writer) God s word of judgment falls upon all the descendants of Adam removing the universal spread of wickedness and violence by destroying all flesh on the earth through the flood, yet hope continues as He delivers Noah and his family by means ofRead MoreHow Does Comparative Material From The Ancient Near East Help Us Understand Genesis 1-22?2785 Words   |  12 Pagesancient Near East which have many similarities with the Genesis 1-22 bible narratives such as the creation, flood and patriarchal narratives ? Ugarit and Ebla.[footnoteRef:1] Many scholars have argued on the implication of the similarities in the Genesis flood story with Noah and the flood epic that was told in Mesopotamia ? Gilgamesh.[footnoteRef:2] Alexander Heidel has made several comparisons between the flood narrative in Genesis and the epic of ?Gilgamesh?. He discusses the problem with theirRead MoreComparitive Flood Stories Essay3018 Words   |  13 PagesComparitive Flood Stories Most comparisons between Genesis and ancient Creation or Flood stories can be classified as comparative religious studies. They generally involve one text isolated from its original historical context (e.g., the Babylonian creation myth Enuma Elish or the Flood tablet of the Gilgamesh Epic) and one related biblical narrative. On the basis of currently available evidence, their earliest-known written form can be dated only to the first half of the first milleniumRead MoreJohn Browns Effect on World History866 Words   |  4 Pagesto be propaganda, not objective history; (4) the ability to read and administrative Documents, which shed light on priestly duties and temple management, trials of grave robbers, medical veterinary treatment, wills other legal documents, and narratives of great construction and social order; and (5) the ability to decipher expedition records, wisdom philosophic literature, stories Egyptian legends so that a wide range of ancient Egyptian cultural experie nces are now accessible to us. ThereRead MoreThe Intrigue of the Book of Danie826 Words   |  3 Pagesmost intriguing books found in the Bible. To know God’s plan for the future it is necessary that you understand the book of Daniel. Daniel can be divided into two segments of six chapters each. Chapters 1-6 are made up primarily of a historical narrative that explains how Daniel came to be in King Nebuchadnezzar’s royal court and his rise to power. Chapters 7-12 are of an apocalyptic genre in which Daniel receives visions concerning the future and the kingdom of God. The book of Daniel implies thatRead MoreAllusions And Theme In The Goblin Market By Christina Rossetti1282 Words   |  6 PagesChristina Rossetti’s narrative poem, â€Å"The Goblin Market,† displays some allusions and themes in this poem. Mostly, Rossetti tells a story of sisterhood, overcoming temptation and experiencing restoration. Laura and Lizzie both endured the temptation of fruit; Laura suffered the worst as her health declined and aging away to death. Lizzie’s determination to help her sister shows love and sacrifice for Laura’s well-being, similar to how Christians described Jesus Christ’s love for them by dying onRead MoreA Definitive Point Of A Biblical Worldview1217 Words   |  5 Pages A Definitive Point First of all, what is a biblical worldview? The definition of a biblical world view is simply the way you choose to view issues. It can also be the stance you take in different beliefs or situation, while taking references and abiding to the bible or Christianity. My starting point in this essay is to simply add basis to the fact that God is the definitive point .Everything from creation starts and ends with God. He wasRead MoreThe Book Of Genesis : A Historical Narrative1334 Words   |  6 Pageshistorical narrative. Old Testament narratives serve two main purposes: (1) to chart the ongoing progress of salvation history, and (2) to provide illustrations of God’s nature and purpose and the appropriate responses of the people to God’s purpose (Fee and Stuart, How to read the Bible for all its worth, 2014) There a few main things to remember when reading Old Testament narratives; as the reader need to recognize the levels at which narratives function, keep the focus on God and his purpose for theRead MoreEpic Of Gilgamesh Literary Analysis1837 Words   |  8 Pagesmanner, the book of Genesis explains how God created Adam from a speck of dust from the ground (Bird 99). The similarities in the process of creation of Adam and Enkidu in each book set the tone for their future generations. According to Bird, the biblical story of Adam’s transition from the grace and tranquility he enjoyed in the Garden of Eden to his fall from the Garden of Eden is symbolic of the theme of love, disobedience, and its accompanying punishments. He noted that the accounts of the events

Similarities Between Descartes And Nietzsche s View On...

Is there truly a God or something superior to us? Yes of course. Conversely, atheists are people who don’t believe that God or a divine being exists. For the most part, atheists have acknowledged that the most reasonable conclusions are the ones that have the best evidential support. They have argued that the evidence in favor of God’s existence is too weak or the arguments in favor of concluding there is no God are more compelling. Two ancient philosophers, Descartes and Nietzsche’s have different views on God’s existence. There has been many thinkers in history who have lacked a belief in God. Some ancient Greek philosophers, such as Epicurus, obtained natural explanations for these superior miracles. Epicurus was the first to question the compatibility of God with suffering. In contrast, Descartes proves God s existence as an external reality and that ideas of perfection or infinity cannot come from oneself. He explains that â€Å"I am a finite being and thus cannot generate these ideas on my own. I have also never experienced perfection or infinity in the world, so they cannot come from experience, either†. God is a â€Å"perfect being†. Descartes indicates in the beginning of Meditation IV, â€Å"perfection† can know nothing of trickery, deceit because deception is a mark of maliciousness and imperfection. If God is a perfect being and perfection cannot know anything of lies or deceit then God cannot be deceptive. He claims that I have both a finite intellect from God, which isShow MoreRelatedPhilosophy C100 Quiz 121572 Words   |  7 Pagesphilosophical question:    | Is there a God? |    | Does the end justify the means? |    | What form of government is best? |    | What is Time? |   X | All of the above. | 3.   An argument is a reason for accepting a position.    X | True |    | False | 4.    The area of philosophy concerned with values includes    | Ethics |    | Aesthetics |    | Social/political philosophy |   X | All of the above |    | None of the above | 5.    Trying to argue that God exists because it says so in theRead MoreBranches of Philosophy8343 Words   |  34 PagesTraditional branches are cosmology and ontology. †¢ Epistemology is concerned with the nature and scope of knowledge, and whether knowledge is possible. Among its central concerns has been the challenge posed by skepticism and the relationships between truth, belief, and justification. †¢ Ethics, or moral philosophy, is concerned with questions of how persons ought to act or if such questions are answerable. The main branches of ethics are meta-ethics, normative ethics, and applied ethics.Read Moresecond sex Essay13771 Words   |  56 Pages an instance of otherness not consisting purely and simply in the opposition of two species of the same genus? I think that the feminine represents the contrary in its absolute sense, this contrariness being in no wise affected by any relation between it and its correlative and thus remaining absolutely other. Sex is not a specific difference ... no more is the sexual difference a mere contradiction. ... Nor does this difference lie in the duality of two complementary terms, for two complementaryRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pagesand permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458, or you may fax your request to 201-236-3290. Many of the designations by manufacturers

Importance of Human Resource Management to an Organisation Sample

Questions: 1.What is HRM?2.What is its Importance to an Organization?3.What is its Importance to Employees? Answers: 1.Answer: Human Resource Management is primarily associated with the management of the people within a company. It mostly focuses towards the framework of policies and its adherence by the people within the organization (Johnason, 2009). Human Resource managers or HRs handle the job to monitor the behavior and motivation level of the employees and guide them to work towards the objectives set by the employer. 2Answer: HRM is important to any organization. It helps them to have strategic policies and frameworks in place. The employees of the organization work as per the policies and work together to achieve a common objective as set by the employer. The HR managers act as a partner to the delivery managers to keep everything within the purview of organizations strategies. 3.Answer: HR managers tend to review the performance of employees from time to time. Employees can raise their concern with the HR and can get a resolution for their issues (Collings, 2009). They can consult the HRs for their growth within the organization and the path which they have to follow to achieve the same. Thus, HRM is important for the employees. References Johnason, P. (2009). HRM in changing organizational contexts. London: Routledge. Collings, D. G., Wood, G. (2009). Human resource management: A critical approach. London: Routledge

The Effect of Corporate Governance Mechanism on the Quality of Earnings Among Nigeria Money Banks in Nigeria free essay sample

This paper examines whether corporate governance mechanism variable – Board Size, Board Composition, Ownership Concentration, Institutional Shareholders, Dividend Payment, Firm Size have significant impact on the quality of earnings of Nigerian deposit money banks as measured by modified (McNicols and Wilson, 1998), (Gred and Clarke, 2004) and (Chang, 2008) model of specific industry discretionary accruals as against (Dichow and Dichev, 2002), though widely accepted but is hardly industry specific. Secondary data are extracted from the annual reports of 15 banks that form the sample of the study within the period between 2006-2011. Multiple regression was used as a tool for analysis. The result reveals that corporate governance mechanisms affects earnings quality of Nigerian money deposits banks. All the corporate governance examined are positive except for the control variable firm size signifying that none of the explanatory variables is inversely related to quality of earnings amongst Nigerian money deposits banks. It is therefore recommended that amongst others that shareholders of Nigerian DMBs to ensure the inclusion of about 50% outside directors in the board and ensuring a good quantum of both institutional and block holders in the equity holdings of the banks. We will write a custom essay sample on The Effect of Corporate Governance Mechanism on the Quality of Earnings Among Nigeria Money Banks in Nigeria or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Keywords: Earnings, Discretionary, accruals, manipulation, monitoring, quality. Introduction The rising number of corporate failures, scandals and crises such as Enron, WorldCom, Global Crossing, HIH Insurance, Ansett, Pan Pharmaceuticals, Lever Brothers, Cadbury, and Afri bank has precipitated the growing interest on the governance structures of firms by academics, practitioners, the investment community, regulatory agencies, policy makers, national and multilateral government bodies and host of other stakeholders (Tsegba, 2011). Corporate governance is about building credibility, ensuring transparency and accountability as well as maintaining an effective channel of information disclosure that would foster good corporate performance (Matama, 2008). Income smoothing and earnings quality popularly called earnings management can be regarded as two of the attractive and challenging issues in studies related to accounting because investors pay attention to amount of income as an important factor in decision making. It has long been recognized that financial statements play an important role in assessing managers’ performance by the board of directors outside investors and external regulators. It is therefore, not unlikely that managers will manipulate financial reports in order to produce a good image of themselves and the firms that they manage (Shehu and Abubakar, 2012). There are a lot of qualitative empirical studies exist on the relationship between corporate governance mechanisms and earnings quality. However, quantitative studies supporting the existence of a link between corporate governance mechanisms and earnings quality are relatively scanty and inconclusive. Besides the scanty nature of quantitative literature, most of the existing ones are more concerned about the overall quality of corporate governance mechanisms rather than particular features or practices of such governance. In addition, most of the studies are cross-sectional in nature. There is none of these studies that examine either the overall or particular features of corporate governance mechanisms and earnings quality of the banking industry in isolation. The peculiar and sensitive nature of the banking industry as well as the reforms it has continued to undergo indicates the need for special attention. This study attempts to address that omission by examining the effect of corporate governance mechanisms on the earnings quality of Nigerian money deposit banks. The relationship between corporate governance mechanisms and earnings quality is important to the extent that good corporate governance builds confidence in the minds of existing and potential investors as well as other stakeholders of a bank. This in turn creates confidence in the banking industry. The implications of these on the economy as a whole are also obvious. Economic growth will be more sustainable, capital market will be boosted and become more developed and an egalitarian and corrupt-free society will be built. All these are essential for sustained economic growth and development. This study also contributes to the growing body of quantitative research on corporate governance and earnings management. The spate of well publicized corporate failures around the world call for high-quality financial reporting, which gives a proper record of stewardship, provides details of real costs of services and in which the informed individual can have confidence. Moreover, the recent number game amongst banks in Nigeria raises additional concern on the need for financial reports that meet today’s requirements (Bello, 2005). Earnings management involves the manipulation of earnings by companies using financial statement elements that are largely at the discretion of the managers to achieve divergent personal goals. These elements are peculiar to industries depending on their nature of operations and external regulatory framework. Researchers such as (Dockery and Herbert, 2000); (La Porta, Lopez-de-Silanes, (Yakasai, 2001); (Detomasi, 2002); (Fort and Schipani, 2003); (Bai, Liu, Lu, Song and Zhang, 2005); (Barako and Tower, 2006); (Achua, 2007); (Okike, 2007) and (Shehu and Abubakar, 2012) have identified that accruals arising from depreciation are used to manipulate earnings in manufacturing companies, claim loss reserve in insurance and loan loss provision in banking. Loan losses has been identified as one of the most important factors that lead to bank failures and its provision has a direct impact on reported earnings (Grey and Clarke, 2004). The issue of earnings quality arises because financial reports may incorporate adverse information about future cash flows in a more or less timely fashion (Francis et al, 2003). According to (Ball and Shivakumar, 2002), earnings quality is about timely loss recognition that requires estimates of future cash flows from assets or outflows for liabilities. In (Basu’s, 1997) view, accountants have tendency to require a higher degree of verification to recognize good news as gains than to recognize bad news as losses. He consequently relates earnings quality to the accounting concept of conservatism, which supposes that earnings reflect ‘bad news’ more quickly than ‘good news’. In theory, one measure of earnings quality is the relation between current accruals and cash flow (Jindrichovska and Kuo, 2000). Thus, prior researches document an association between earnings pattern and earnings quality (Hunt et al, 2000; Francis et al, 2003). Relating this measure to banking, earnings quality becomes a function of DLLP and earnings pattern. Accordingly, banks with abnormal DLLP are considered as having low quality earnings while banks with normal DLLP are deemed to have high earnings quality. Incidentally, there also, exists an inverse relation between smooth and increasing earning pattern and earnings quality: the higher the smooth earning pattern the lower the earnings quality (Francis et al, 2003). Shehu and Abubakar, 2011) opined that loan loss provision is an expense on the income statement which signifies managers’ assessment of expected future losses. This means that an increase in loan loss provision reduces net income, while a fall in loan losses increase net income. Since it is the result of managers’ assessment of the likely loss that the company would incure should the borrower fail to repay his obligations as at when due, the provision for it is considered to have two (2) p ortions: non-discretionary and discretionary portions. Non-discretionary is a function of specific quality determinants in the loan portfolio- non-accrual loans, renegotiated loans, loans past due over 90 days, specific analyses on troubled large credits, usually implying internal grading system. This means that the non-discretionary portion is the provision that is based on fair and objective analyses of the firm’s economic conditions. While the discretionary portion are those accruals that largely depend on the outcome of the managers’ future expectations of uncertain events. The components of it are both quantitative and qualitative. Grey and Clarke (2004) pointed that the qualitative components include political, economic, geographical and political factors, while the quantitative are statistical analyses of loans not individually analyzed for special reserve and therefore are largely at the discretion of managers. The reasons why banks manipulate earnings are supported by three arguments of signaling argument, income smoothing or earnings quality argument and capital management argument (Zhou and Chen, 2004). The signaling argument suggests that banks use discretionary loan loss provision to insinuate that earnings will be high in subsequent periods (Wahlen, 1994: Liu and Ryan, 1995: Beaver and Engel, 1996). Contrary to the signaling argument, earnings quality argument holds that managers increase the provision for loan losses in periods when earnings are high, under the assumption of income smoothing (Beatty, Chamberlain amp; Moglio, 1995: Collins, Shacklford amp; Wahlen, 1995: Rivard, Bland amp; Morris, 2003). This implies that earnings quality in this area improves bank’s cash flows, capital adequacy, market value and overall performance. While the capital management argument suggests that since increase in loan loss provision increases regulatory capital, management exercises discretion over its provision (Ahmed, Takeda amp; Thomas 1999, Beatty et al. , 1995). Regardless of the industry and the strings attached, managers’ discretionary behavior to achieve personal gains undermines the shareholders’ wealth maximization objective of the firm. Consequently, therefore, this paper examines the influence of corporate governance mechanisms on the quality of earnings among Nigerian Deposit Money Banks (DMBs). In order to achieve this, it is posited that corporate governance mechanisms- board size, board composition, ownership concentration; audit committee, institutional shareholding and dividend have no significant impact on quality of earnings among Nigerian DMBs. It is the constant fear in the banking industry in spite of introduction of new code of corporate governance to enhance the efficiency of the industry practices, and the recognition of the use of discretion by bank managers as well as earnings manipulation that make this work apt and imperative. This study contributes to the sparse of literature that studied the relationship between corporate governance and earnings quality. It also extended to the financial firms by raising and discussing issues on corporate governance mechanism and earnings quality of banks using discretionary loans loss provision in the circumstance of emerging economies like Nigeria. The paper is structured as follows. Section two reviews related literature on corporate governance mechanisms and earnings quality and theoretical framework. Section three is methodology and model specification. In section four, the results and findings of the study are presented and discussed. Finally, section five deals with conclusion and recommendations. 2. 1 Literature Review and Theoretical Framework Literature on corporate governance and quality of earnings is reviewed. Specifically the study concentrates on governance mechanisms of dividend, audit committee, board size, board composition, ownership concentration and institutional shareholding. The theoretical framework that underpins the study is then presented and supported. Earnings quality as the altering of financial statements through the use of judgment in structuring transactions to either mislead the firm’s stakeholders about the true economic picture of the firm or to achieve some contractual benefit that is based on accounting numbers (Healy and Wahlen, 1999). (Schipper, 1989), opined that earnings quality is the deliberate intervention in financial reporting process to achieve personal goals. Earnings quality is the manipulation of financial statement by managers, using accounting choices, estimates and methods, to achieve some objectives that are largely in conflict with the underlying economic status of the firm. Different incentives to manage earnings are widely discussed in the literature, (Bhat, 1996), linked it to the attempt to enhance shareholders’ value and to maximize executive compensation through income smoothing and earnings quality respectively. Income smoothing, occasional big bath, living for today and maximization of variability are identified by (Koch amp; Wall, 2000). (Chang et al. 008) note three incentives to manage earnings: capital market motivation, which includes initial public offerings, seasoned equity offerings, management buoyant plans and plans for mergers to meet earnings forecast, to smooth earnings, management compensation motivation, debt agreement or job security and laws and regulations such as import regulation, antitrust laws, also can serve as incentives. Managers use discretionary accruals for opportunistic earnings quality (Cornet et al. 2009) by attaining some level of performance and affecting stock prices to enhance managers’ wealth through restricted stock returns. . 1. 1 Board Size and Earning Management There are a lot of empirical researches that have documented that board size is related to earning management. The evidence on the role of board size is inconclusive. Yermack (1996) and Eisenberg, Sundgren, and Wells (1998) demonstrate that smaller boards are associated with manipulative accounting. In the analysis of 131 different study-samples with a combined sample size of 20,620 observations (Dalton, Daily, Johnson and Ellstrand (1999) documented a positive and significant relation between board size and income smoothing. These conflicting results provide no conclusive relationship between earnings management and board size. A smaller board may be less encumbered with bureaucratic problems and may be more functional. Smaller boards may provide better financial reporting oversight. Alternately, a larger board may be able to draw from a broader range of experience. In the case of earnings management, a larger board may be more likely to have independent directors with corporate in financial experience. If so, a larger board might be better at preventing earnings management. Small boards are less effective monitors and are easier for CEOs to influence (Jensen, 1993) and (Lipton and Lorsch, 1992). 2. 1. 2 Board Composition and Earnings Quality Board independence simply refers to non-executive external directors, who do not represent any particular shareholder interest and hold no special business interest with the bank, relative to total number of directors on the board (Shehu and Abubakar, 2011). Studies on impact of board composition on earnings quality have produce varied results. Cornet et al. 2007), examine the impact of corporate governance and pay-for-performance on earnings quality. By means of 100 largest firms in the U. S. as ranked by Samp;P between 1994-2003, they find that the presence of independent outside directors reduce earnings quality. Aggregate accruals were used to proxy for earnings quality. (Cornet et al. , 2009), investigate how corporate governance mechanism affects earnings quality at large publicly traded U. S. companies for th e period between 1994 2002. Large independent boards constraint earning quality was found by the study. Roodposhti and Chashmi, 2010) find that for the period between 2004-2008 in Iran, using 196 firms listed on Tehran Stock Exchange, revealed a negative association between board independence and earnings quality. On the contrary, (Hashim and Devi, 2008) examine the relationship between board independence, CEO duality and accrual management in Malaysia. Using 200 top non-financial companies listed on Malaysian Stock Exchange, they find that large percentage of independent executive directors is associated with higher income-increasing earnings quality. Also, (Shah, Zafar and Durrani, 2009), study the relationship between board composition and earnings quality in Pakistani listed companies for the period between 2003 and 2007. They find no significant relationship between board composition and earnings quality. Yet, all studies exclude financial firms, the inclusion of which might have yielded different result. (Macey and O’Hara, 2003) opined that governance structure is industry specific and there is a systematic difference between the governance of different industries 2. 1. 3 Ownership Concentration and Earnings Quality Ownership concentration, which is also referred to as blockholders. It is the proportion of shares (usually more than 5%) owned by a certain percentage of shareholders. There are arguments that the higher the number of shares owned by the blockholders, the more the pressure on managers to act in conformity with shareholders interest (Sanda et al. , 2005). (Ramsy and Blair, 1993) opined that large ownership concentration has more incentives to manage earnings because the expected benefit from equity holding in the firm outweighs the cost associated with monitoring managers If this is true, then we expect ownership concentration to be inversely related to earnings quality. Some researchers observe that high ownership concentration beyond a certain level may lead to abuse of power, which could be detrimental to the value maximization goal of the firm (Sanda et al. , 2005). Inconsistent results were yielded on the relationship between ownership concentration and earnings quality. (Roodposhti and Chashmi, 2010) find a negative relationship between ownership concentration and earnings quality, while they used 196 firms listed on Tehran Stock Exchange as their sample for the period between 2004-2008, to examine the effect of board composition and ownership concentration on earnings quality. In the same vain, (Klai and Omri, 2011), investigate the impact of corporate governance on financial reporting quality in Tunisia. The study used 22 listed firms for the period between 1997-2007. They find that ownership concentration is negatively associated with earnings quality. Conversely, Using top 200 listed non-financial companies, (Hashim and Devi, 2008), examine the association between board independence, CEO duality and accruals management. They find that ownership concentration is associated with high income-increasing earnings quality. Besides the exclusion of financial firms from all the studies mentioned above, economic differences of nations calls for an investigation in of similar problems in an economy like ours. 2. 1. 4 Institutional Shareholding and Earnings Quality Institutional shareholders have both the incentive and power to compel managers to act in consonant with value maximization objective of the firm. (Shehu, 2011) note that institutional ownership has emerged particularly in the banking sector as a tool for protecting minority interest. We, therefore, expect that institutional shareholding and earnings quality will be inversely related. (Cornet et al. , 2007), investigate how governance structure and incentive based compensation influence firm performance when measured performance is adjusted for earnings quality. The study used top 100 firms rated by Samp;P in U. S. , they find that earnings quality is significantly reduced by institutional shareholders whether institutional shareholders is measured based on the proportion of shares owned by all institutional shareholders or by institutional involvement in the firm. This finding is an extension of (Klein, 2002). The study might have revealed different result if carried out in the Nigerian context. (Shehu, 2011) examine the interaction between corporate governance and financial reporting quality in deposit money banks. Using all 21 banks quoted on NSE for the period between 2007-2009, the study reveals a positive and significant relationship between institutional shareholding and earnings quality. The major drawback of this research is that it uses (Dichow and Dichev, 2002) model, which though is widely accepted but is hardly industry specific. The presence of institutional investors with substantial shareholdings restrain managers from engaging in income increasing discretionary accruals when companies have high free cash flow, however, when there is no free cash flow agency problems. 2. 1. 5 Dividend Payment and Earnings Quality While many studies ignore this variable as corporate governance mechanisms, this study consider dividend payment as a n important parameter that measures the overall efficiency of the board. A board that has high frequency of dividend declaration may force earnings managers to have less discretion in manipulating earnings. This is because higher earnings will attract high dividends leading to free cash flow. Larger free cash flow payout reduces managers’ ability to make bad investment (Jensen, 1986). Likewise, high payment obliges managers to raise additional capital via stock market there by being exposed to specialist, financial analyst, investment bankers, regulatory authorities and the press (Goergen, 2007). From these views, apart from the fact that high dividend is a signal to management effectiveness; it serves as a disciplinary mechanism in limiting management discretion over cash flow. In absence of priority we hypothesized that firms with high level of dividend history will have less level of unethical accounting practice that has to do with earnings misrepresentations (Bello, 2013). 2. 2 Theoretical Framework and Model Development In order to link corporate governance with earnings quality, the study first looks at the theories that induced earnings manipulations. Two prominent are opportunistic and desirous. The first theory which embedded the philosophy of this paper is opportunistic tendency of managers to engage in unethical in absence of good governance structure. Secondly, from corporate legal point of view board are to act as trustees of shareholders. Infact they are like operating shareholders directly overseeing the affairs of management. Agency theory, postulates an inevitable conflicts. Whereas, managers will be targeting better performance for short term gains, the interest of shareholders would be that of long term benefit of capital appreciation and return (dividend). Within the agency framework, it is both logical and inescapable that management behavior will be self serving (Amat, 1996). The end result will be that of managers manipulating earnings. These two theories; agency theory and opportunisms theory provide a complete framework for understanding corporate governance and earnings quality. 3. 1 Methodology The research design is inclined to use ex-post financial data because of its empiricism as well as practicality. The period of the study is six (6) years (2006 to 2011) both years inclusive. The period is considered more appealing because all DMBs for which relevant financial data from 2006 to 2011 is obtained would have survived the distress syndrome of the early 1990s and 2005 consolidation saga in Nigeria. We believe also that the six-year period would provide an adequate time series of data (observations) to realistically identify Nigerian DMBs that have been managing earnings over a number of years. This is consistent with Michelson et al (2000) idea that adequate time series studies captures incidence of smoothing, whereas one period studies reflect attempts to smooth. The data is extracted from the consolidated annual reports of the sampled banks sourced in the Nigerian Stock Exchange fact book 2010/2011. The population of the study is all the 25 DMBs that survive consolidation exercise as at 31st December 2006. The ample is drawn using criteria of complete data availability in which 15 banks automatically formed the sample of the study. Two steps Panel regression is used as tool of analysis because it satisfies our purpose of predicting and explaining relations between variables and also providing residuals of the LLP model to represent the explained variable in the second regress ion model. A pre-requisite for the use of any variant of earnings quality detection models is computation of the smoothing instrument. Theoretically and in practice, the smoothing instrument relevant to earnings quality studies in the banking industry is the LLP. Previous studies have investigated earnings quality instruments such as dividend income, changes in accounting policies, pension costs, extraordinary items, investment tax credit, depreciation and fixed charges, and many others (Kamarudin et al, 2001). However, (Kanagaretnam et al, 2001), specifically conclude that banks use LLP and charge-offs to smooth income. 3. 1. 1 Estimation of Discretionary Loan Loss Provision and Variables Measurement Now, in order that we use LLP in detecting earnings quality, we need to estimate the LLP made by sample banks in the industry. Nonetheless, we begin by making distinction between regulatory LLP as per the requirements of the PGs and discretionary loan loss provisions (DLLP) that is used for earnings quality. The distinction is useful because, where banks provide only in compliance with the PGs (non-discretionary LLP), it would be wrong to conclude that it uses LLP for earnings quality. The DLLP therefore contains an element of provision in excess of PGs requirements. It follows that to conclude that banks smooth their reported earnings; there must be evidence of DLLP in the financial reports. Stated differently, the presence of DLLP is a prima facie pointer to the possibility of earnings quality behaviour among the banks. (McNichols and Wilson, 1998), (Grey and Clarke, 2004) and (Chang, 2008) adapted measuring earning management in banks with discretionary loan loss provision. Consistent with prior studies (e. g. , Kim and Kross, 1998; and Kanagaretnam et al, 2001), the beginning balance of nonperforming loans, change in non-performing loans and change in total loans to estimate the non-discretionary component of LLP is used. Because the beginning balance of nonperforming loans (NPL) is usually positively related to LLP, therefore, with a higher level of beginning nonperforming loans, banks will have to make a higher LLP. In addition, change in nonperforming loans (CHNPL) in the current period to have a positive effect on LLP is expected. The sign of the coefficient of change in the value of loan deflated by beginning loans (CHLOAN) is also positive. An increase in loan portfolio will most likely result in an increase in LLP. Equation (1) provides an estimate of the non-discretionary LLP: LLPit = 0 + 1NPLit + 2CHNPLit + 3CHLOANit + it[1] Where, LLPit = provision for loan losses deflated by beginning loans; NPLit-1 = beginning of period nonperforming loans deflated by beginning loans; CHNPLit = change in the value of nonperforming loans deflated by beginning loans; and CHLOANit = change in value of loans deflated by beginning loans. In equation (1) above, the independent variables account for the non-discretionary component of LLP, and consequently, the DLLP is given by the residual term. In order to explain the cross-sectional differences in the level of DLLP, it requires a two-stage analysis where the first stage explicitly models the non-discretionary portion of LLP using a model as per equation (1). In the second stage, the residual from the first stage regression, representing the discretionary portion, is subsequently used as the dependent variable. A drawback of this stepwise estimation procedure is that, it systematically underestimates the absolute value of the regression coefficients in the second stage (Kanagaretnam et al, 2001). Hence, to alleviate this potential problem, analysis using a single regression model is conducted including the three variables used in equation (1) to explicitly account for the non-discretionary component of the LLP. The empirical model is given thus: LLPit = 0 + 1EBTPit + 2L/DEPit + 3 WELLit + 4 LASSETit +5 CHNPLit + 6 NPLit-1 + 7 CHLOANit + it †¦Ã¢â‚¬ ¦ [2] Where, EBTPit = earnings before tax and provisions deflated by beginning assets; LLPit = provision for loan losses deflated by beginning loans; L/DEPit = ratio of loans to deposits; WELLit = a dummy variable which equals 1 when industry capital ratio is well above the legal requirement (i. e. , when the total risk-based capital ratio exceeds 10% and the tier 1 risk-based capital ratio exceeds 8%), and equals 0 otherwise; LASSETit = the natural logarithm of total loan assets; CHNPLit = change in the value of nonperforming loans deflated by beginning loans; NPLit-1 = beginning of period nonperforming loans deflated by beginning loans; and CHLOANit= change in value of loans deflated by beginning loans. The first three variables (EBTP, L/DEP, and WELL) explain cross-sectional differences in DLLP; the third variable (LASSET) is a control variable and the last three variables (CHNPL, NPL, and CHLOAN) account for the non-discretionary component of LLP. The corporate governance variables of the study- board size, board composition, ownership concentration, dividend and institution shareholding are measured below: Board size (BS) is the total number of directors in the board Board composition (BC) is the ratio of independent or outside directors to total board size. Ownership concentration (OC) is the percentage of shares owned by blockholders (more than 5%). Institutional shareholding (IS) is the ratio of equity share owned by institutional investors to total number of shares issued. Dividend payment (DP) is the total amount of dividend paid. Firm size (FS) is the control variable which is the natural log (1n) of total assets. Such control is necessary because the bigger the bank, the larger the expected agency problem it will experience. Grey and Clark, 2004) note that large banks likely to avoid using discretionary loan loss provisions to manipulate earnings. A lot of researchers controlled for firm size in corporate governance studies including (Sanda et al. 2005), (Dabo and Adeyemi, 2007) and (Roodposhti and Chasmi, 2011). The regression model for testing the hypothesis of this study is presented below: LLPit = ? it + ? 1BSit + ? 2BCit + ? 3OCit + ? 4ISit + ? 5DPit + ? FSit + eit LLP= Loan Loss Provision BS=Board Size BC = Board Composition OC = Ownership Concentration IS = Institutional Shareholding DP = Dividend Payment FS = Firm Size 4. 1 Result and Discussion The analysis begins with a range of descriptive statistics on dependent variable and independent variables with mean, standard deviation, minimum and maximum presented below: Table 1: Summary of Descriptive Statistics | BS| BC| OC| IS| DP| FS| Mean| 14. 5444| 0. 2644| 0. 3177| 0. 5608| 2. 6556| 11. 2100| Std. Dev. | 2. 65703| 0. 11349| 0. 10243| 0. 5267| 0. 33000| 0. 11000| Minimum| 9. 00| 0. 0| 0. 12| 0. 43| 10. 37| 68. 97| Maximum| 20. 00| 0. 50| 0. 60| 0. 68| 4. 15| 83. 20| Observation| 90| 90| 90| 90| 90| 90| Source: Output of data analysis using E-view The table 1 shows the average independent directors in the board composition of the Nigerian banks is 26%, board size accounted for about 14 directors, block holders and institutional shareholding averaging 56% and 32% respectively of the shares issued and N2. 66k is the average dividend paid by Nigerian banks. The control variable is a veraging 11. 1 billion naira worth of assets by the banks. The standard deviations of most of the variables are not far away from their respective means values. This indicates a favourable level of dispersion that the data is not skewed and good to produce a reliable result which is confirmed by the values of skewness and kurtosis though not reported but attached. The minimum and maximum number of both executives and non-executives directors are 9 and 20 and that of independent directors of the banks are 10% and 50% respectively. In addition, the block holders and institutional shareholders of Nigerian banks range from 12% to 60% and 43% to 68% respectively. The total assets of the banks range from 68. 97 to 83. 20 billion naira during the period of the study. Table 2: Correlation Matrix | FIQ| BS| BC| OC| IS| DP FS| FIQ| 1| | | | | | BS| 0. 25| 1| | | | | BC| 0. 21| -0. 025| 1| | | | OC| 0. 29| 0. 090| 0. 024| 1| | | IS| 0. 42| 0. 035| -0. 034| 0. 34| 1| | DPFS | 0. 170. 31| -0. 146 0. 70| -0. 015-0. 034| 0. 158-0. 071| 0. 4890. 415| 10. 74 1| Source: Output of data analysis using E-view The correlation results presented in table 2 shows that all the explanatory variables are positively and strongly associated with explained variable except institutional shareholders and dividend paid. Thus, there is a strong relationship between corporate governance mechanisms and loan loss provision of the Nigerian money deposit banks. On the other hand, most of the independent variables are negatively and not significantl y associated between them. This indicates an absence of multicolinearity between the explanatory variables of the study. The correlation matrix reveals the relationship between all pairs of explanatory variables involved in the regression model. High correlation among the independent variables point the possibility of multicollinearity (excessive correlation), a situation which distorts the standard errors of estimates and the validity of the result became questionable. The correlation coefficients showed that multicollinearity does not exist among the variables. Additionally, this study adopts further test for excessive correlation using the variance inflation factor (VIF) and tolerance values. The purpose of additional investigation is to provide adequate assurance that the research findings are robust to the model specification. Table 4:Multicollinearity Test Variable| VIF| Tolerance| BS| 1. 081| 0. 925| BC| 1. 003| 0. 997| OC| 1. 080| 0. 926| IS| 1. 407| 0. 711| DP| 1. 657| 0. 603| FS| 1. 440| 0. 694| | | | Source: Output of data analysis using E-view To formally substantiate the lack of multicollinearity between the independent variables, colinearity diagnostics are observed and that the variance inflation factors (VIF) and tolerance values indicate no multicollinearity in the data. The values for tolerance and VIF are shown in Table 4. The tolerance value and the variance inflation factor (VIF) are two advanced measures of assessing multicollinearity between the independent valuables. The variance inflation factors and tolerance values are computed and found to be consistently smaller than ten and one respectively indicating absence of multicollinearity (Neter, Kutner, Nachtsheim, and Wasserman, 1996 and Casey and Anderson 1999). In addition, the tolerance values are consistently smaller than 1. 0 thus further substantiates the fact that there is no multicollinearity between independent variables (Tobachnick, and Fidell, 1996). The following regression result of the study is presented and discussed. Table 3: Regression Results Variable| Coefficient| T-Statistic| Sig. | | BS| 0. 355| 4. 123| 0. 000*| | BC| 0. 196| 2. 360| 0. 021**| | OC| 0. 144| 3. 673| 0. 008*| | IS| 0. 186| 4. 890| 0. 002*| | DP| 0. 520| 4. 873| 0. 000*| | FS| -0. 488| -4. 908| 0. 000*| | R-sq uared| 0. 43| Adjusted R-squared| 0. 40| F-statistic| 10. 46| F-Sig| 0. 000*| Durbin-Watson stat| 1. 99| | | Source: Output of data analysis using E-view The results show that the estimated model of the study is fit because all the explanatory variables are significant in determining the dependent variable. It can also be observed that the coefficients of all the explanatory variables are positive except for the control variable firm size signifying that none of the explanatory variables is inversely related with quality of earnings among Nigerian deposit money banks. The cumulative influence of all the explanatory variables put together is able to explain the dependent variable to 40% as indicated by the adjusted R2 and the remaining 60% is controlled by other factors. Again, the value of the F- statistic 10. 46 and significant at 1% confirms that the model is well fitted. This provides evidence of rejecting the null hypothesis that corporate governance mechanisms have no significant impact on the quality of earnings among Nigerian deposit money banks. The Durbin- Watson of 1. 99 reveals that serial correlation will not pose a problem to the statistical result of the study. The result in respect of board size and board composition shows that both of them positively and statistically significant at 1% and 5% respectively. This implies that the more their numbers the better the quality of earnings among Nigerian DMBs. For board size, the result reveals that Nigerian banks should have a minimum of 9 and maximum of 20 executive and non-executive directors for their reported earnings to be of quality. The finding supported that of Jensen (1993) and Lipton and Lorsch (1992) who suggest that small boards are less effective monitors and are easier for CEOs to influence and contradicts those of Yermack (1996), Eisenberg et al. (1998) and Loderer and Peyer (2002). The findings related to board composition or independence is line with (Hashim and Devi, 2008; Cornet et al. , 2009), and contrary to (Cornet et al. 2007; Roodposhti and Chashmi, 2010; Shah, Zafar and Durrani, 2009). Therefore, the policy implication is for Nigerian banks to have atleast 10% and not more than 50% independent directors out of the total maximum number of directors of 20. Moreover, for institutional share holders the result reveals that institutional shareholding is positively significant in influencing the quality of earnings among the Nigerian DMBs. This implies that banks with high number of institutional holders, their managers are easily restrained to manipulate accounting numbers. Looking at the level of association between institutional ownership and loan loss provision, a positive relation emerged and supported statistically. This significant association indicates that institutional investors are a major consideration in managers aggressive earnings management strategy. This result is not surprising as it shows institutional investors in Nigerian banks are effective in constraining managerial behaviour of earnings management. Consistent with the argument that institutional investors in Nigeria create incentives for managers of their portfolio firms to manage earnings aggressively, these institutional investors focus excessively on current earnings performance (Koh, 2003). Interestingly, this study extends the findings of Shehu (2011) who used a sample of 63 firm-year observations to document a positive relationship between institutional investors and financial reporting quality in the Nigerian banking industry. It also supports Cornett et al. (2008) who used 24,005 sample of U. S. industrial firms to document a postive and robust relationship between institutional investors and firm performance even when performance is stripped of the discretionery accruals. However, it contradicts that of Dabo and Adeyemi (2009) who fail to establish a statistically significant association between institutional shareholding and managers’ opportunistic behaviour using 20 most active quoted firms on the Nigerian Stock Exchange. Moreso, it conflicts with the finding of Al-Fayoum (2010) in their sample of Jordanian industrial firms. It can therefore be concluded that large institutional shareholding in the Nigerian manufacturing firms helps to allay the agency problem and leads to the protection of minority shareholders’ interest. In addition, the result in respect of ownership concentration and earnings quality reveals that ownership concentration is positively and strongly impacting on earnings quality at 1% level of significance among Nigerian deposit money banks. This is in line with our expectation, because given the fact that in most cases the institutions are the blockhoders of the company, therefore the results of the two variables would go in the same direction. The result contradicts the findings of Roodposhti and Chashmi (2010), Klai and Omri (2011) and supports the findings of Hashmi and Devi (2008). The implication of this finding is that the concentration of equity ownership in the hands of few individuals should be encouraged by the bank regulatory authorities. An equity ownership ceiling that should be raise. The result regarding dividend payment and earning management shows that managers will decline from managing earnings to enable them pay dividend to share holders. Statistically, dividend payment influences earning quality at 1% level of significance. This finding is in line with Bello (2013), Goergen,(2007) and Jensen (1986). Finally, the control variables banks’ size significantly and inversely affected the quality of earnings of DMBs in Nigeria. Size appears to affect earnings management inversely indicating that banks with larger assets have low earnings quality since they engage more in earnings management. This may be as result of the availability of much asset may motivate the managers to discretionary take selfish decisions to benefit their personal interest. 5. Conclusion and Recommendation Boards of directors, institutional and block holdings are responsible for monitoring, evaluating, and disciplining banks’ management. Perhaps one of the most important responsibilities of the board from a creditor’s perspective is oversight of earnings quality. Consistent with this idea, it is found that board size, board composition, ownership concentration, institutional shareholdings and dividend paid are all st rongly playing a prominent role in restraining management toward earning management.