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Direct Research Journals
Vol.3 (3), pp. 72-80, December 2016
ISSN:2449-0806: International Standard Journal Number (ISJN) e-ISJN: A4372-2600

Investment monitoring systems and corporate financial performance of oil and gas multinationals in Port Harcourt
Article Number: DRJA3321172205
DOI:

Original Research Article


FYNEFACE NMECHA AKANI1 and ORJI, LOVEDAY2


1Department of Accounting, University of Port Harcourt, Rivers State, Nigeria.

2Local Government Council,Rivers State, Nigeria.

*Corresponding author E-mail:  orji_loveday@yahoo.com.


date Received: October 1, 2016     date Accepted: November 29, 2016     date Published: December 20, 2016

Abstract

The paper examines Investment Monitoring Systems and Corporate Financial Performance of Oil and Gas Multinationals in Port Harcourt. Investment Monitoring System is the quantitative and qualitative mechanisms by which the performance of a firm’s investment or project is appraised. Corporate financial performance comprises of the processes by which monetary gains can be attained for an organization and its stakeholders based on the set goals and objectives. The paper concludes that investment monitoring system is a mechanism used to assess the achievement of a firm in terms of business transaction and project execution for the purpose of determining the valuable use of monetary resources and time for the benefit of an organization. The aim of monitoring investment is to examine how funds are put into proper usage for the growth, survival and development of an organization or business. The paper recommends that oil and gas multinationals should use strategic processes to assess their investments; oil and gas multinationals should adopt project appraisal techniques that will enable them realize the money- worth of their investments; and oil and gas multinationals should use capital budgeting approach to make decisions that will maximize value for money.


Key words: Corporate Financial Performance, Investment Monitoring System