Chapter One — 1.1 Background to the Study

In recent years, Going Concern Assessment has emerged as a critical factor shaping firm value of listed companies across organizations operating in and around Selected Family-Owned Businesses in Nigeria. As institutions grapple with the pressures of globalization, regulatory reform, and shifting stakeholder expectations, understanding how going concern assessment relates to firm value of listed companies has become an important area of both scholarly and practical concern.

Selected Family-Owned Businesses in Nigeria presents a useful setting for examining this relationship precisely because the conditions there — structural, regulatory, and behavioural — differ from those typically assumed in the broader literature, most of which draws on evidence from more developed economies.

1.2 Statement of the Problem

Despite a growing body of literature on going concern assessment, there remains limited consensus on the precise nature of its relationship with firm value of listed companies, particularly within Selected Family-Owned Businesses in Nigeria. Many organizations continue to make decisions about going concern assessment without a clear, evidence-based understanding of how those decisions ultimately affect firm value of listed companies. This gap between practice and empirical understanding is the central problem this study seeks to address.

1.3 Objectives of the Study

1. To examine the effect of Going Concern Assessment on firm value of listed companies in Selected Family-Owned Businesses in Nigeria.
2. To assess the extent to which going concern assessment influences firm value of listed companies within the study area.
3. To identify the challenges associated with going concern assessment in relation to firm value of listed companies.
4. To recommend strategies for optimizing going concern assessment in order to improve firm value of listed companies.

1.4 Research Questions

1. What is the effect of going concern assessment on firm value of listed companies in Selected Family-Owned Businesses in Nigeria?
2. To what extent does going concern assessment influence firm value of listed companies within the study area?
3. What challenges are associated with going concern assessment in relation to firm value of listed companies?
4. What strategies can be adopted to optimize going concern assessment in order to improve firm value of listed companies?

1.5 Significance of the Study

This study is significant to a range of stakeholders. For policymakers and regulators, the findings offer evidence to guide the design of frameworks that support healthier outcomes around firm value of listed companies. For managers and practitioners within Selected Family-Owned Businesses in Nigeria, the study provides practical insight into how going concern assessment can be better managed. Finally, it contributes to the academic literature on accounting by extending existing knowledge into a specific empirical context, and offers a reference point for future researchers.

1.6 Scope of the Study

In terms of scope, this study confines itself to Selected Family-Owned Businesses in Nigeria, focusing specifically on how going concern assessment relates to firm value of listed companies within that setting. Findings are interpreted within these boundaries rather than as universal claims applicable to every organization or market.