Javascript is required
Search
Volume 12, Issue 4, 2025
Open Access
Research article
From Costs to Gains: How Cost of Sales Enhances Firm Value in Listed Agricultural Companies
Ama Kalu Ikwuo ,
Otuagoma Florence Onororakpoene ,
Gilbert Ogechukwu Nworie
|
Available online: 12-29-2025

Abstract

Full Text|PDF|XML

This study examined how cost of sales influences the firm value of listed agricultural companies in Nigeria. An ex-post facto research design was adopted to analyze audited historical financial data collected from five listed Nigerian agricultural companies, including Ellah Lakes PLC, FTN Cocoa Processors PLC, Livestock Feeds PLC, Okomu Oil Palm PLC, and Presco PLC, which were selected by census sampling. The secondary data obtained from the annual reports of the firms under investigation was from the period of 2015 to 2024. Hypotheses were tested using panel estimated generalized least squares. The findings revealed that cost of sales had a significantly positive effect on firm value (β = 8.801653, p = 0.0000), indicating that effective management of production and operational costs enhanced financial returns. Therefore, the management of listed agricultural companies was advised to strengthen structured cost management practices that focused on efficient procurement of raw materials, improved inventory control, and optimized production processes, so that spending on cost of sales continued to support the growth of revenue and translate into higher firm value rather than generating unnecessary operational waste.

Abstract

Full Text|PDF|XML
The process of digital transformation entails the development of inclusive and reliable financial infrastructure considered to be crucial for economic stability, especially in developing and transition economies. The financial sector of Kosovo is mainly dominated by commercial banks which heavily rely on the deposits of private clients as the main source of funding, thus customer loyalty is essential for their funding stability. In line with the Sustainable Development Goal 9 which underlies the significance of innovation and sustainable industrialization, the purpose of this research is to investigate the dimensions of e-banking service quality, service price, and the impact of socio-demographic factors on customer satisfaction and loyalty within the banking sector in the Republic of Kosovo. This study applied both qualitative and quantitative methods to collect data and analyze research results. It was noted that the service quality of e-banking emerged with a positive impact on customer satisfaction, yet exerted no significantly direct impact on customer loyalty. Reliability, as a dimension of e-banking service quality, turned out to be the key factor that positively influenced customer satisfaction, followed by responsiveness and sensitivity. Besides, financial innovation was positively perceived by the bank clients in developing countries, despite the adverse impact derived from the negative relationship between price and loyalty. Therefore, precisely identifying and perceiving potential factors that influence e-banking satisfaction and client loyalty is crucial to support efforts striving towards financial inclusion. The findings in the current study suggest that a balanced approach that encourages innovation while maintaining fair pricing strategies is indispensable to ensuring that the positive impact of e-banking translates into a bank’s financial stability in the developing countries. This study offers insightful knowledge for commercial banks and regulators who are interested in factors affecting progressive digital financial inclusion in emerging banking sectors.
- no more data -