CAMBRIDGE INTERNATIONAL JOURNAL OF MANAGEMENT SCIENCE AND ENTREPRENEURSHIP (CJMSE) VOL. 19 (7)
SEPTEMBER, 2020 EDITION
Cambridge Research and Publications International,
Africa (Nigeria): Centre for African Humanity and Development Circle
(CAHDC), University of Nigeria, Nsukka, Enugu State, Nigeria
Copyright © 2020 Cambridge Research and Publications International.
DOES THE TRIPLE BOTTOM LINE REPORTING MATTERS TO NIGERIAN STAKEHOLDERS? A LITERATURE SURVEY APPROACH
*AMINU ABDULLAHI, PH.D; & ALHASSAN KAWU ABUBAKAR
*Department of Accounting, Faculty of Management Science, Usmanu Danfodiyo University, Nigeria **Department of Accountancy, School of Financial Studies, Federal Polytechnic, Bida, Niger State Nigeria
The investigation about the relationship between Triple Bottom Line reporting and firm financial performance have been undertaken across industries in Nigeria private sector with mixed findings without any study that synthesizes the available findings with a view to present a common ground of the scholars. This study, therefore, synthesised the available findings as a basis of drawing a conclusion for Nigerian firms and the stakeholders as to whether or not the TBL reporting affects Nigerian stakeholders than the traditional reporting that provide for the needs of the shareholders only. This study is based on a literature survey design as data were collected from syntheses of empirical studies conducted across Nigeria. The study concludes that TBL reporting in Nigeria matters to the sustainability of firms and the stakeholders in general. As a result, the paper recommends that the TBL reporting framework be enshrined in law and in accounting standards, making it compulsory for firms to adopt across Nigeria rather than a voluntary form as it is now.
Keywords: TBL, Sustainability, social, environmental, financial reporting, performance
THE IMPACT OF WORKING CAPITAL MANAGEMENT ON CORPORATE PERFORMANCE IN NIGERIA
EDOUMIEKUMO ADESEWA RAMOTALAI
Department of Accounting, Niger Delta University.
This research is on the impact of working capital management on corporate performance in Nigeria. The aim of this study is to assess the impact of working capital management on corporate performance of quoted chemical and paint firms in Nigeria. The objectives are; to examine the relationship between working capital management on corporate performance of quoted chemical and paint firms; to determine the strength of the relationship between working capital management on corporate performance of quoted chemical and paint firms and; to establish equation for the working capital management and indicators determine corporate performance of quoted chemical and paint firms. The study adopted both the use of primary data from chemical and paint firms. Data were collected using the instrument of questionnaire. Data was analysed using the multiple linear regression. The research revealed that there is statistically significant effect of the Average Collection Period on firm’s sales growth in Nigeria. The Inventory Conversion Period has a significant negative effect on sales growth. Average Payment Period does not have a significant impact on sales growth while Cash Conversion Circle has a positive and significant impact on sales growth of the firms. The research is recommended to all Agro-based industries and industrial goods companies both the private and public ownership.
Key words; Capital; management; performance; indicators; firms; corporate.
ENTREPRENEURIAL MOTIVATION AND ENTREPRENEURIAL INTEREST AMONG STUDENTS’ BUSINESS-OWNERS AT ODUDUWA UNIVERSITY
*ESUH OSSAI-IGWE LUCKY, Ph.D ** AKPAN, E. O.
*Department of Administration & Management, College of Business & Social Sciences,Crawford University, Igbesa, Ogun State, Nigeria **Department of Accountancy,School of Business Studies, Federal Polytechnic Bauchi.
The study provides empirical evidence on the influence of entrepreneurial motivational factors on the entrepreneurial interest of students’ business-owners at Oduduwa University. The study focused on the actual student’s business owners at the department of business administration in Oduduwa University rather than students who just have the intention to engage in a business after graduation. Towards this end, a cross-sectional design with questionnaire survey on 38 students’ business-owners at the business administration department was drawn through purposive sampling technique. Self-administered questionnaire procedure was adopted to obtain data pertaining to entrepreneurial motivation al factors on the entrepreneurial interest. Smart PLS analysis tool was used to examine the proposed relationships and the overall finding revealed a significant relationship between entrepreneurial motivational factors and entrepreneurial interest of students’ business owners at Oduduwa University. After a consideration of the limitations of this study, the study discussed the key findings from an entrepreneurial motivational factor framework.
Keywords: Motivation, Entrepreneurial interest, Students’ business owners, Oduduwa University
MEDIATING EFFECT OF ORGANIZATIONAL JUSTICE ON THE RELATIONSHIP BETWEEN JOB SATISFACTION AND PERFORMANCE APPRAISAL: A PILOT STUDY
*DR. AHMAD A. MAIYAKI **MRS LAMI MUSA YARO
*Department of Business Administration and Entrepreneurship, Bayero University Kano, Nigeria **Department of Business Administration, National Open University of Nigeria, Abuja
The paper test a small amount of sample data on the mediating effect of organizational justice on the relationship between job satisfaction and performance appraisal among secondary school teachers in Kaduna state. In conducting survey, it is paramount to examine the instruments to be used such as content and face validity, reliability and the normality of data need to be tested for consistency and reliability base on the on revised version by expert which comprises some Academicians and head teachers, a few data were analyzed using the statistical software SPSS version 25. The results reveal that the instrument is reliable for data collection and processing. In addition the data for pilot study show evidence of reasonable regularity.
Keywords: Organizational justice, performance appraisal, job satisfaction. Pilot Study.
RISK MANAGEMENT AND CATASTROPHIC LOSS MINIMIZATION IN NIGERIA INSURANCE COMPANIES
FESTUS M EPETIMEHIN & AJIDAGBA BAYO
Actuarial Science and Insurance Department, Joseph Ayo Babalola University, Ikeji- Arakeji
This study is carried out to investigate the influence of risk management in minimizing catastrophic loss risks in Nigeria. Adopted exploratory research design to accomplish the research objectives, taken entire insurance companies on the National Insurance Commission as the study population and ten insurance companies are randomly selected, with two hundred sample size. Primary data was sourced for this study through the aid of well-structured questionnaire while correlation and regression analysis were used to analyse the extracted data. The result of the findings reveal that Risk securitization practice (RSEC) has positive and significant relationship with Catastrophic Loss Minimization (CASL) with the coefficient of 0.066; reinsurance policy/strategy (REPL) has positive and significant relationship on Catastrophic Loss Minimization (CASL) with the coefficient output of 0.821; Operational policy(COPL) has positive relationship with Catastrophic Loss Minimization (CASL) of insurance companies with the coefficient output of 0.031, but not significant. However, Insurers retention (INRT) has negative and significant relationship with the Catastrophic Loss Minimization (CASL) of insurance companies with the coefficient output of 0.071. The study recommended that the management of insurance companies should put in place risk management frameworks such as Enterprise Risk Management that conform with National Insurance Commission (NAICOM) guidelines and international best practice. Also, insurance companies should address corporate governance issues in their risk management programs.
Keywords: Risk, Risk Management, Securitization, Reinsurance and Catastrophic loss
HEALTH IMPACT ANALYSIS ON ECONOMIC GROWTH IN NIGERIA; AN ARDL CO-INTEGRATION APPROACH
*ECHE NWACHUKWU AUSTINE, *BITRUS JAMES PAM **AKEEN ADETOKUN (PhD) & ***SALAWU ABDULKAMARU
*Department of Economics, Air Force Institute of Technology, Kaduna **Department of Banking and Finance, Air Force Institute of Technology, Kaduna ***Country Head of Internal Control, Sierra Leone
The study examined health impulse on sustainable economic growth in Nigeria. The study adopted Autor Regressive Distributed Lag Model as well as annual time series data for the period of 1986 to 2019.The variables considered in the study include the dependent variable; real gross domestic product (RGDP) a proxy for economic growth, and independent variables; labour force participation rate (LFP), life expectancy (LER), morbidity rate (MBR) and public expenditure of health (PEH). Each of the variables was tested for stationarity using Augmented Dickey-Fuller test and were cointegrated at different order of 1(1) and 1(2) level of stationarity. However, ARDL Bounds Test for Co-integration, was carried out to evaluate the long run relationship among the variables. The study established that health in term of labour force participation has a negative and significant impulse on economic growth in both short-run and long-run, while in term of life expectancy, its showed positive impulse in both short-run and long-run. The study showed health in terms of morbidity showed a negative impulse in the short-run, while in the long-run the impulse association is positive and insignificant. More so, the public expenditure on health showed a positive and significant impulse on economic growth in the short-run, while in the long-run the impulse dynamics is positive and insignificant. We conclude that in the long-run, LFE, MBR and PEH does not exert a significant influence on economic growth in Nigeria for the period under study. Therefore, the study recommends that in order to achieved sustainable economic growth in Nigeria, policies that can address the quality of health care availability to the population should be put in place. Such policy should include the quality of health infrastructure and pharmaceutical development, to safeguard the quality of drugs, cost and availability.
Keyword: Health, economic growth, life expectancy, labour force Participation, morbidity rate, labour force participation
ASSESSMENT OF IMPACT OF INSURANCE DENSITY ON INSURANCE PERFORMANCE 1996-2018. NIGERIA PERSPECTIVE
AGBO, ISHMAEL UMUNNAKWE AND AGBAJI, BENJAMIN CHUKWUMA (PH.D)
Department of Insurance and Risk Management, Faculty of Management Sciences, Enugu State University of Science and Technology (ESUT) Agbani, Enugu State Nigeria
This study assesses the impact of Insurance Density on Insurance Performance in Nigeria from 1996-2018. The specific objectives are to: investigate the impact of insurance density on insurance performance and also determine the relationship existing between insurance density and insurance performance in Nigeria. Expost-facto research design was adopted while Auto regressive distributed lag model (ARDL) was used to analyze the data. It was found that insurance density has positive and significant impact at (0.023<.05).Consequently the relationship that exist between insurance density and insurance performance was discovered to be positive and significant at (0.0000<.05). The study concludes that insurance density positively and significantly impacts insurance performance. In the same vain the relationship existing between insurance density and insurance performance is strong. The study recommends that insurers should develop affordable products that will meet the protection need of the people and sound insurance practice. Similarly restructure claims procedures for efficiency and convenience, sensitize the public both at the urban and rural domain.
Keywords: Assessment, Insurance, Density, Performance and Nigeria
COMPENSATION STRATEGIES AND EMPLOYEE RETENTION: ANY CORRELATION?
*AMOO, A.A (MRS); SAKA T.A; **DANGANA, K.A
*Department of Business Administration Institute of Finance and Management Studies, Kwara State Polytechinc, Ilorin
**Department of Purchasing and Supply Institute Of Finance and Management Studies, Kwara State Polytechinc, Ilorin
Due to competitions for scarce skills, the attraction and retention of quality employees has emerged as the biggest challenge in human resource management. This has resulted in a high turnover rate in most firms especially in Nigerian banking system where employees continuously move from one bank to another within short periods of time. This study was designed to examine the relationship between compensation strategy and employee retention. The study utilized a quantitative research design and 126 employees of selected Deposit Money banks in Ilorin Metropolis were randomly selected as research participants. A well-structured questionnaire were administered to participants. The findings revealed that profit Sharing was found to be a significant predictor of Extra-working times (EWT=0.919), Job Loyalty (JBL=0.88), and Flexible Working Hour (FWH=0.829) which contribute to employee retention in the sampled banks at 5% level. Further were the findings that financial and non-financial compensation strategies are good predictors of favorable working conditions that contribute to the employee retention in the banks (F=216.977 and P < 0.05). Other findings revealed in the Generalized Linear Model (GLM) was the true indication that organizational culture and healthcare were insignificant at 5% level. The study concluded that the most attractive banks to work for were those that allow their employees autonomy to be creative, providing flexible working conditions and environment, and other related compensation strategies. Therefore, the study recommends that management of the banks should maintain a desired level of benefits, attractive salary packages, training opportunities and restructure the culture of the banking firms by implementing appropriate healthcare policies that will be beneficial to employees in the sector so as to increase loyalty and higher retention rate in the banking industry.
Keywords: Scares Skills, Employee Retention, Competition Strategies, Working Condition, Financial and Non-financial Strategies
IMPACT OF CORPORATE SOCIAL RESPONSIBILITY ON THE PROFITABILITY OF QUOTED MANUFACTURING FIRMS IN NIGERIA.
*OLAITAN, OLUMIDE OLATUNDE; *AZEEZ, LUKMAN ADEDAYO & **ADENIRAN, EMMANUEL GBADEBO
*Department of Accountancy, the Oke Ogun Polytechnic, Saki, Oyo State, Nigeria. **Department of Banking and Finance, the Oke-Ogun Polytechnic, Saki. Oyo State Nigeria.
This study sought to investigate the impact of Corporate Social Responsibility (CSR) on Financial Performance (proxies by Profit Before Tax and Turnover) on listed Manufacturing Companies in Nigeria. The research employed an ex-post facto research design. The population of the study was sixty-five (65) listed Manufacturing Companies in Nigerian Stock Exchange as at the time of this study, while the sample size was five (5). Data were sourced through secondary means of the five (5) listed Manufacturing Companies, who consequently report CSR activities for a period of 17 years (2002 – 2018); using random sampling techniques. Data were analyzed using descriptive statistic and simple regression analysis. The results revealed that there is positive and significant relationship between CSR and Profit before Tax i.e. the coefficient of CSR is 173.67 with P value of 0.000 < 0.05. It also showed that there is a positive and significant relationship between CSR and Turnover i.e. the coefficient of CSR is 881.57 with P value of 0.000 < 0.05. It was concluded that CSR has a significant impact on both Profit before Tax (PBT) and Turnover (TURN) of listed Manufacturing Companies in Nigeria during the period under review.
Keywords: Profit before Tax, Turnover, Corporate Social Responsibility, Financial Performance.
NIGERIA’S TOURISM MASTER PLAN AND ISSUES ON ITS STRATEGIC IMPLEMENTATION
ELDAH EPHRAIM BUBA; FLORENCE ELMA; AGASI & SANUSI ABUBAKAR SADIQ
Department of Leisure and Tourism Management, Federal Polytechnic, Bauchi, Bauchi State, Nigeria.
There are some challenges facing Nigeria as a tourist destination, these are; political instability, access and internal transportation, weak marketing approach, ineffective tourism information system, low quality of accommodation, untrained personnel in the sector, insecurity and the negative image of Nigeria abroad. This study is aimed at identifying the factors that hindered the implementation of the tourism master plan in Nigeria. Secondary data was used for the study; this includes reports, newspaper articles, documented audio interviews and previous studies. The study found out that the Nigeria tourism master plan had issues of soft factors, hard factors and mixed factors. These factors affected it strategic implementation and delayed a lot of activities as stated in the plan. Governments come up with a tourism strategy that would deal with the current issues in the tourism sector. There should be involvement of all stake holders in the formulation of the strategy to avoid the conflict that the master plan faced. The actions in the new strategy should be monitored to ensure that it carried out effectively. Nigeria will be one of the leading destinations for tourism if the country seriously takes the issues of tourism important.
Keywords— Masterplan, Strategic, Implementation, Tourism.
ASSESSMENT OF THE DELIGHT FACTORS THAT DETERMINE CUSTOMERS’BANKING HABIT: A STUDY OF FIRST BANK NIGERIA PLC, BIDA BRANCH, NIGER STATE
*BELLO, BABATUNDE SIKIRU; **MAKINDE, KEHINDE A; ***OZIMEDE, ELIZABETH IRAGBESON; *NWOKENKWO, BEN OLUBUNMI; *ABDULLAHI, IBRAHIM
*Department of Marketing, Federal Polytechnic, Bida **Department of Banking & Finance, Federal Polytechnic, Bida ***Department of Business Administration & Management, Federal Polytechnic, Bida
This work assesses the delight factors that determine customers’ banking habits using First Bank Nigeria Plc, Bida as a study. The study is predicated on an assessment of the literature presented in different studies which revealed that studies conducted on delight factors determining customer’s banking habit examined a variety of attributes as determinants of the banking habit process and discovered a variance in the nature and importance of these attributes. The work aims to identify the major delight factor(s) that determine customers’ banking habit as well determine the criteria that customers consider as important when selecting a bank and how those criteria are prioritized according to their importance. The study, which adopts descriptive research design, employed both primary and secondary data. Primary data were sourced with structured questionnaires administered to the sampled population of both the staff of First Bank, Bida and their customers using random sampling technique. The secondary data used emanated from journals, textbooks and other relevant publications, the data was analyzed using descriptive statistics and presented in a simple pie chart. Related literatures were reviewed and authors were duly cited. From the findings, it was discovered that there is significant relationship between delight factors and customers’ banking habit. The study concludes that one of the basic factors that influence customers’ favourable banking habit lies in banks having good and attractive products and services that can appeal to customers’ attention and meet their financial requirements. It was also concluded that in forming a banking habit, customers consider the proximity of bank to their homes and/or workplaces. Thus, the study recommends among others that Banks should develop robust and customer-friendly products and services such as low interest rate on loan, reasonable payback period, attractive interest for savings account and others that can attract customers to patronize them. Banks should also concentrate more on increasing the efficiency of completing banking transactions.
Keywords: Assessment; Delight Factors; Determine; Customers; Banking Habit
IMPACT OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY OF LISTED BUILDING MATERIAL COMPANIES IN NIGERIA
ABBAH, GRACE OJOCHENEMI & ILIYA BAWA, Ph.D
*Department of Accountancy Federal Polytechnic Nasarawa Nigeria **Department of Business Administration Federal University Lokoja, Kogi State Nigeria
This study is centered on the life-wire of every business organization. This study has empirically investigated the impact of Working Capital Management (WCM) on the profitability of listed building materials companies in Nigeria for the period of ten years (2007 – 2016) using data from a sample of nine companies. The proxies for WCM are debtors’ collection period, credits payment period and Cash Conversion Cycle (CCC). The proxy for profitability is return on assets (ROA). Debt ratio is used as control variable. The Panel regression with the aid of review was used as the tool of analysis. The study reveals that creditors’ payment period is negatively related to profitability of these listed building materials companies. Also, the study found an insignificant positive effect of debtors’ collection period on profitability of listed building materials companies in Nigeria. Based on the findings, the study concludes that increase in creditors’ payment period does not really matter to the liquidity position of listed building materials companies in Nigeria and the subsequent profitability. The study also concludes that increase in receivable days does not really matter to the profitability of the listed building materials companies in Nigeria. Therefore, the study recommends that listed building materials companies in Nigeria should intensify efforts towards seeing that the payable day to creditors is increased. Payments delayed should be invested in viable projects. Stringent control mechanisms should be put in place to ensure that monies with debtors are not delayed and finally they should desist from outside borrowing because of the high cost of capital associated with it.
Keywords: Working capital, Profitability, Debtors collection period, Creditors payment period, Cash conversion circle.
INFLUENCE OF ECONOMIC GROWTH AND FINANCIAL DEVELOPMENT ON FOREIGN DIRECT INVESTMENT IN SUB- SAHARAN AFRICAN COUNTRIES
*BADAMASI SANI MOHAMMED & **SULEYA’UHAYEWA
*Department of Economics, Al-Qalam University Katsina **Department of Management Sciences, Rabi’u Musa Kwankwaso College of Advanced and Remedial Studies, Tudun Wada, Jos Road Kano
Most countries in the world are working hard to attract more Foreign Direct Investment (FDI). Therfore any attempt to find out the influence of FDI is promount importnant. The paper seek to look into the influence of economic growth and financial Development on Foreign Direct Investment in Sub-Sahara African Countries for the period of 2000 to 2018. The study employed panel data analysis, including the panel unit root test, panel co integration test and fully modified least square method (FMOLS). The findings reveal that, all the variables were cointegration of order one and having a long run relationship. More so the results show that financial development was positive and statistically significant in influencing FDI in the region, while Economic growth was statistically insignificant in influencing FDI in the region. The findings suggest that, the goverments of the reigon should emphasized and reconsider the important of financial reform policies, in order to have a sound financial development to attract FDI.
Keywords: Foreign Direct Investment, (FDI), Fully Modified Least Square Method (FMOLS), Emerging Sub-Saharan Africa Countries (ESSAC).
A REVIEW ON THE INFLUENCE OF MANAGERIAL SKILLS OF MANAGERS ON PERFORMANCE OF CORPORATE ORGANIZATIONS IN NIGERIA
BALOGUN BAMIDELE BODE
Centre for Entrepreneurship Development (C.E.D), Kebbi State Polytechnic, Dakingari, Kebbi State.
This paper examined the influence of managerial skills of managers on performance of corporate organizations in Nigeria. The objective of the paper is to examine whether effective managerial skills of managers will lead to increase in the performance of corporate organizations in Nigeria. The paper builds on existing literatures on managerial skills and performance of corporate organizations as bases for the review. It employs both theoretical and empirical papers with the aid of secondary information. Findings revealed that effective managerial skills in the organization would lead to an increase in the performance of employees. The paper concludes that effective and efficient managerial skills of managers are a prerequisite for increased performance in corporate organizations. It therefore recommends that managers at all levels should be well equipped in their areas of specialization, it further recommends that adequate resources should be set aside for the training and retraining of managers from time to time.
KEYWORDS: Influence, Managerial Skills, Managers, Corporate Organizations, Performance.
THE EFFECT OF CHANGE IN TECHNOLOGY ON INTERNAL AUDIT EFFECTIVENESS IN THE NIGERIAN BANKING SECTOR
USMAN MOHAMMED BATURE; FATIMA BELLO & SHEHU UMAR SA’ID
Accountancy Department Federal Polytechnic, Bauchi
This study assesses the effect of Change in technology on internal audit effectiveness in the Nigerian Banking sector. The study adopted a cross sectional survey research design and 128 questionnaires were distributed to banks staff in Bauchi State using stratified random sampling technique. Data collected were subjected to tests of normality, validity, and reliability using IBM SPSS V.25. Correlation and linear regression analyses were used to assess the extent to which Change in technology influenced the effectiveness of internal audit in the Nigerian banking sector. The study found that Change in technology has significant influence on internal audit effectiveness in the Nigerian banking sector. The study recommends among others that The banks internal auditors should be trained regularly on new and up to date technologies to be used on internal audit matters as they emerge as this will increase internal audit effectiveness and as well as increase bank performance which go a long way in boosting the economy.
Keywords: Technology, Effectiveness, Effects, Audit, Banks
ANALYSIS OF LIQUIDITY AND PROFITABILITY LEVELS AS MEASURES OF MICROFINANCE BANKS PERFORMANCE, A STUDY OF YOBE MICROFINANCE BANK LIMITED (YBMFB), DAMATURU
KOLAWOLE, ABDULAZEEZ OYENIYI
Department of Business Administration and Management, the Federal Polytechnic, Damaturu. Yobe-State
The topic, Analysis of Liquidity and Profitability levels as measures of Microfinance Bank’s Financial Performance, a study of Yobe Microfinance Bank Limited (YBMFB), Damaturu attempts at examining the financial positions of Microfinance Institutions in effort to determine their health standards. The task would indicate their abilities to meet the wealth maximization objective of the banks owners in the one hand and all other parties; workers, customers and the government on the other hand. Source of data were the financial records and other related documents of the bank. Ratio analysis have been employed to determine performance in terms of profitability and liquidity, profitability were measured through ratios including Returns on Assets (ROA), Earning Assets to Total Assets (EATA), Returns on Loans (ROL), Returns on Deposits (ROD) and Returns on Equity (ROE). Liquidity Positions which assessed the level of solvency were examined through ratios in the likes of Loans to Deposits and Deposits to Assets. The ROA hovered around 9.5-9.7% within the periods 2018-2019 is considered stable. The EATA of between 83-85% is better and 3.20-2.90 loan interest charged is average. However, the net profit to total deposits was bad at 0.0025 for 2018 compared with 0.026 in 2019. Similarly, ROE of 0.00050 was poor in 2018 compared with the value, 0.0042 in the year 2019. Conversely, the liquidity position of 2.64 was challenging in 2019 compared with 2.34 in the year, 2018. Also, for both 2019 and 2018, the bank assets were financed by deposits hovered around 55-57% indicating impending danger of illiquidity particularly when depositors wishes to withdraw more than 50% of their deposits. Despite these circumstances, this research adjudged the YMFBL as okay considering that the bank had recently switched to microfinance from mortgage finance with attendant problems of economic instabilities, security challenges and advent of corona pandemic. Also, ratios have some limitations; the decimations of all variables into monetary standards, the issues related to comparisons and the lack of uniform acceptable values across ratio users. The recommendations were that the bank should seek better investment alternatives to maximize shareholders wealth, reduction of operating expenses to improve operating income, better management of deposits to loans and loans to assets so as to guide against inherent danger of illiquidity.
Keywords: Liquidity, profitability, financial performance, microfinance banks, ratios.
EFFECT OF LIQUIDITY MANAGEMENT ON PROFITABILITY OF LISTED MANUFACTURING FIRMS IN NIGERIA
Department of Accounting, Nuhu Bamalli Polytechnic, Zaria
This research work tends to investigate the effect of liquidity management on the profitability of manufacturing firm Nigeria. The study considers a sample size of all the manufacturing firms in the Nigeria stock exchange (NSE). Secondary data were obtained from the financial statement of the listed firms which covers a period of five years (2008-2017). Data collected were analysis using correlation matrix and Ordinary Least Square regression techniques. The result of the study revealed that current ratio is positive while quick ratio is negative and both have insignificant relationship with profitability in manufacturing firm. On the other hand, debt ratio has a positive and significant relationship with return on asset. It was recommended that management should proper manage their debt in a way to increase profitability since debt ratio has significant influence on profitability.
Keyword: liquidity management, profitability, Nigeria
IMPACT OF INTEREST RATES ON THE GROWTH OF INDUSTRIAL SECTOR OF NIGERIAN ECONOMY
NDIFE, CHINELO FRANCA
Department of Business Administration, Federal Polytechnic, Okoh, Anambra State.
This study on the effect of interest rates on growth of industrial sector was done on the thrust that interest rate is a major determinant of credit delivery to the productive sector of any economy. Due to several types of interest rates existing in the financial sector, it is worthwhile to determine the interest rates that aid efficient transmission of credit to the productive sector which is the driving force of any economy. The study employs the descriptive survey design used in studying the characteristics of variable of interest. The data was collated from central bank of Nigeria monetary and real sector data. The data covers the period of 2010 quarter 3 to 2020 quarter 1. The independent variable used are Inter-bank lending rate (IBR), Open Buy Bank rate (OBB), Standing Lending Facility rate (SLF), Standing Deposit Facility (SDF) and 91 days Treasury Bill Interest Rate (91TBR) while the GDP of industrial sector was used as the independent variable. The interest rates are the independent variables while economic growth of industrial sector proxied by industrial sector GDP is the dependent variable. The results of the study reveal that standing lending and standing deposit facilities have significant impact on the industrial sector of the Nigerian. The interbank rate and 91 days treasury bill rate do not have significant effect on the growth of the industrial sector of the economy. It is therefore recommended that banks should give optimum interest rates that maximizes their profit as a profit-making organization and aids the mobilization of credit to the productive sector of the economy. Central bank’s monetary policies should also be in this regard.
CREDIT RISK AND FINANCIAL PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA: CASE STUDY OF ACCESS BANK PLC
*HELEN OLUWATOYIN ADEBAYO; **SEGUN IDOWU ADENIYI, PhD; *MIRIAM NGUAVESE NYIKYAA; *ANDREW JATAU YOHANNA
*Department of Accountancy, Federal Polytechnic Nasarawa, P.M.B. 001, Nasarawa State. **Department of Accountancy, Nnamdi Azikiwe University, Awka, Anambra State
Credit risk is a treat to going concern of deposit money banks but without giving credit to customers, it will be practically impossible for banks to create money and remain in business. This study investigates how loans and advances to individual and corporate organization that are past due affect return on capital employed by banks. It is a case study work that focuses on Access Bank Plc. Data for the analysis was gathered from financial accounts and report. Findings show that loans and advances to corporate organization that are past due have significant effect on financial performance of deposit money banks. We recommend among others that the regulatory authority should encourage banks to be publishing the names of individuals or corporate organization that failed to meet their debt obligation as at when due in their financial accounts and report. This may serve as a tool to reduce risky credit assets.
Keyword: loans; advances; return on capital employed.
COLLECTIVE BARGAINING AND INDUSTRIAL HARMONY IN ORGANISATION
IBRAHIM ABUBAKAR MIKUGI; GANA JAMILA; FASHGBA OLAMIDE IFEOLUWA; & ADEIZA RAMATU
Department of Business Administration and Management, Federal Polytechnic, P.M.B 55, Bida, Niger State.
The objective of collective bargaining is essentially for the negotiation about working conditions and terms of employment between an employer (organization) on one hand and the representative of workers on the other hand with a view of reaching an agreement. The focus of this research however, is on the effects of collective bargaining in achieving industrial harmony in organizations both public and private using The Federal Polytechnic, Bida as a study area. The objective of the study is to highlight the effects of collective bargaining on industrial harmony, to find out if there is a significant relationship between communication and industrial harmony. The study made use of both primary and secondary sources of data collection, use of questionnaire. Library, internet, ASUP Bulletins, literatures, and journals. The data collected from 200 respondents through Convenience Sampling Method (CSM) was analyzed using Statistical Package for Social Sciences (SPSS), and correlation analysis technique. The result of the analysis was used in testing the 3 hypothesis postulated and it was discovered that a significant relationship exists between collective bargaining (independent variable) and industrial harmony (dependent variable). The findings of the study were summarized and concluded. The study recommended that union leaders should try as much as possible to separate their personal interest and ambition from the collective interests of union members, management should also learn to respect and honor collective agreement in order to build trust and confidence in industrial relations process.
Keywords: Collective Bargaining, Industrial Harmony, Employers/Employees, Management, Trade Unions.
CHALLENGES OF CORPORATE INCOME TAX ADAMINISTRATION IN NIGERIA
*MOHAMMED UMAR DANLADI; **NDACE MOHAMMED; & **SHETTIMA ABDUL-MATINU
*Accountancy Department, Federal Polytechnic, Bida **Social Science Department, Federal Polytechnic, Bida
The importance of taxation can not be over emphasized has it has a great impact on the people as well as government and that makes it a matter to all. The study is undertaken bring to light the administration of corporate income tax in Nigeria as it being carried out by federal board of inland revenue through ‘ various offices and also to analyzed problems and prospect. There in also literatu retiew its carried out on some scholars works problems confronting corpora income tax administration were enumerated .The research work relied on the use of primary and secondary sources data of collection. The percentage description analysis of data and text books were used make the analysis easy and understandable to the reader. Statistical evidence, the investigation and analysis of federal inland revenue and examination of various document has assisted in arriving at the finding that the are factors responsible for the poor administration of company income tax, As way of recommendation government should, seek for possible solution on th administration of company income tax.
Keywords: Challenges, Corporate, Income, Tax, Adaministration.
OFFICE COMMUNICATION AND STAFF PERFORMANCE IN MONEY DEPOSIT BANKS IN PORT HARCOURT METROPOLIS, RIVERS STATE.
NWEKE, EMMANUEL ONYEKACHI
Department of Office Technology & Management, School of Business & Administrative Studies, Captain ElechiAmadi Polytechnic Rivers State
The main objective of this study was to look at Office Communication and Staff Performance in Money Deposit Banks in Port Harcourt Metropolis, Rivers State. The study was based on empirical study of communication and office performance. It studied a population size 100 staff each of the five branches of Ecobank, Rumuola Road, GT Bank, Location Junction, UBA, Rumuokwuta, Fidelity Rumuokwuta, First Bank PlcRumuola branches. A sample size of 20 representing 5% of the total population was studied adopting the purposive sampling technique. Three research questions and three null hypotheses were raised. The hypotheses were tested using Chi-square statistical tool. The research findings showed, Ho1, that there is a significant relationship between business office staff knowledge of modern communications skills and their performance. Ho2 there is a there is significant relationship between business office staff use of communication skills and their performance in financial institutions in Port Harcourt Metropolis. Ho3, there is no significant between non-availability of communication tools and performance of business office staff in financial institutions in Port Harcourt Metropolis.The on the findings the study recommended; that management should encourage their staff to be knowledgeable in modern communication skills since it has significant relationship with performance of their staff. Trainings and trainings of staff can be such encouragements in the various business offices of the banks. That Management should allow practical sessions and simulation of communication skills before foraying to the customers. The staff should not only have knowledge of communications skills but should be able to use them in work.That since respondents agreed that communication skills have bearing with availability of communication tools, such tools should be made available for the use in the various business offices.
Keywords: Communication, Effective Communication, Organization, Organizational Performance.
BANKING SECTOR REFORMS AND ECONOMIC GROWTH: THE CASE FOR NIGERIA
EZEOCHA, CHUKWUEMEKA MAURICE.
Senior Lecturer, Department of Banking and Finance, Federal Polytechnic, PMB 1012, Kaura Namoda, Zamfara State, Nigeria
This research work is on banking sector reforms and economic growth, with particular focus on Nigeria. Focusing on the Nigerian economy, a country whose banking industry has witnessed a large number of reforms in a relatively short time, the aim of this study therefore, is to attempt to analyze whether the banking sector reforms have had any significant effect in stimulating economic growth in the country. The study attempts to ascertain the effect of banking sector reforms on financial deepening, as well as determines its relationship with the real sector financing. The study relies mainly on secondary data for the analysis, and the hypotheses formulated are tested using ordinary least square multiple regression method. The results reveal that there is a negative relationship between the Loan and the Gross domestic product which signifies that they are inversely related. An increase in commercial bank loan and advances will reduce the GDP. More so, there is a significant relationship between banking reforms and real sector financing. The study establishes that there is a great link between the reforms in the banking sector and the Nigerian economy. Among other things, the study recommends that time lag should be permitted to exist from one reform period to another in order to allow for appropriate planning, and as well, there should be policy consistency by the appropriate Authorities.
Keywords: Banking Sector Reforms, Economic Growth, Financial Deepening
EFFECTS OF ORGANISATIONAL STRUCTURES ON FIRM VALUE IN AFRICA IN 21ST CENTURY: NIGERIAN OIL AND GAS COMPANY
SALAU, AYO RAHMAT; SALAU, OLORUNTOBA NASIR; & ADEOYE, ELIZABETH .T.
Department of Accountancy Federal Polytechnic, Bida, Niger State
The adverse effects of conflict of interest among several parties involved in African corporations cannot be undermined. This study is prompted by the recent cases of corporate failure in Africa resulting from mismanagement of resources by the parties saddled with the responsibilities of smooth running of corporate entities. Considering Nigeria as one of the largest countries in Africa and oil and gas industry as one of the key contributors to African economy, the study examined the effects of organizational structures on firm’s value of listed oil and gas companies in Nigeria. The study adopted ex-post facto research design. The population of the study comprises the 12 listed oil and gas companies in Nigeria while the sample size of 8 was drawn by using convenience sampling technique. Secondary data were utilized for the study and the data were extracted from the sampled annual reports and accounts of the listed oil and gas companies for the period 2008 to 2018. The study employed panel regression technique of data analysis. The findings of the study revealed that managerial ownership has a positive and significant effect on firm value while board size has a negative and significant effect on firm value. More so, ownership concentration has a positive and insignificant effect on firm value, board independence has a positive and insignificant effect on firm value and also, gender diversity has a positive and insignificant effect on firm value of listed oil and gas companies in Nigeria. The study recommended that regulatory authorities such as the Security and Exchange Commission (SEC) should encourage the executive directors to invest more on equity shares in listed oil and gas companies in Nigeria.
TEXTILE AND CLOTHING NEEDS IN NIGERIA: EFFECTS OF CLIMATE CHANGE ON FAMILIES
FAITH C. OKONMAH; HUSSAINA K. TIAMIYU & MUHIBAT A. AKANDE
Home Economics Department, Aminu Saleh College of Education, Azare, Bauchi-State.
This study investigated the effects of climate change on textile and clothing needs and families. Climate change is concerned with the shift experienced in the climate or weather condition in a particular environment. These changes result in temperature, storms, rainfall among others. The purpose of the study was to examine the effects of climate change on textile and clothing need as well as families in Nigeria context. The study adopted qualitative methodological approach where the existing secondary data were employed to undertake the study. The findings of the study revealed that climate change has negative effects on textile and clothing needs as well as families in the country. The effects of climate change on textile and clothing needs hamper on the Nigerian economy and as such lead to poverty and under development. The study argued that strategies such as implementing climate change into educational curricula, acquisition of skill and knowledge, awareness creation, preservation of indigenous knowledge would be useful to revive the loss glory of textile and clothing needs in the country. The study recommended the inclusion of education for sustainability into educational curriculum; government, non-governmental organizations and the economically buoyant persons in the country should take decisive steps to encourage textile and clothing needs to boost t socio-economic development in Nigeria.
Keywords: Climate Change, Clothing Needs, Families, Home Economics Education, Textile
FINANCIAL RISK AND AUDIT FEE ON CORPORATE FINANCIAL DISTRESS OF LISTED INDUSTRIAL GOODS FIRMS IN NIGERIA
MARK DAVID KANTIOK
Department of Accounting, Nuhu Bamalli Polytechnic, Zaria
This paper aims to investigate the effect of financial risk and audit fee on opportunistic accounting of listed industrial goods firms in Nigeria. Correlation research design is used in this study, whereas the sample consists of 12 companies listed on the Nigerian Stock Exchange for the period from 2011 to 2015. Multiple regressions is adopted as a technique of a data analysis. The empirical research shows that managers of the companies would engage in opportunistic accounting when the company is financially distress and its profit is low. Therefore the study recommended that the management of listed industrial goods firms in Nigeria should increase their assets and expand the scope of their activities in order to have proper utilization of their free cash flow and reduce the amount use to pay auditors.
Keywords: Financial Risk, Opportunistic Accounting, Audit Fee, Industrial Goods
THE ROLE OF PURCHASING IN BUSINESS
MUSA UMAR FAROUQ
Marketing Department, School of Administrative and Business Studies, College of Administration, Waziri Umaru Federal Polytechnic, Birnin Kebbi
Purchasing may be defined as the activities involved in the acquisition of a unit’s right inputs in the right quantity, at the right time, from the right source, with the right services, and at the right price. As that function responsible for obtaining by purchase, lease or other legal means, equipment, materials, supplies and services required by an undertaking for use in production. According to Lamar and Dobler, (1983:3) there are two basic types of purchasing in the business world: purchasing for resale and purchasing for consumption or conversion. Purchasing for resale is performed by merchants and speculators. From the beginning of time, purchasing for resale has been the prime responsibility of merchant. The quest for goods to sell was the motivation force that led to the discovery of new time dealing with sales problems, but they devoted by far the largest portion of it to the search for suitable of new and desirable materials. The basic problems of the merchants have not changed. Following the techniques of their predecessors, today merchants ascertain what consumers want, buy it at a price to which they can add profit (mark – up), and sell it to the consumers’ satisfaction, as to quality and service. Merchant and procurement officers must decide what their customers want and they must buy what is wanted at a price which will permit resale at a profit. Is it the managing Director, the Board of Directors, the General manager or a group of Persons charged with the day- to-day running of the business. In any progressive business venture there must be a person who in the final analysis should assume responsibility for decision making. In any given Society, authority is necessary to enable the affairs of the society to be run efficiently and effectively. Authority is required to get things done, to make decisions and choose which of the many numerous ways of carrying out a job or an assignment should be adopted. Except in abnormal cases of managerial genius, no single person can perform the job, assume absolute responsibility for making decisions. The need arises, therefore, for team work and pooled judgment. Pooled judgment means, in effect, the combined efforts are reasoning of a group of persons particularly qualified to perform the essential basic functions of a business. These group of specialists include the chief production Engineer the sales manager, the chief Accountant and the purchasing manager. The purchasing manager is being put in a conspicuous position because it has been acknowledged that a manufacturer cannot make and sell his products in a competitive market unless the production materials from which his products are made, and which represent about two-thirds of his total product cost have been procured efficiently in terms quality, quantity and reduced cost. This is why the purchasing manager himself constitutes the integral part of management. In broad principle, industrial purchasing acquire more specific significance when manufacturing costs are carefully analyzed. In the average of all manufacturing enterprises, more than two- third of income received from sales is used for the purchase or materials, and equipment required to produce the goods. Production reports of various manufacturing industries consistently show that purchases are the largest single factor of industrial costs in many cases are larger than all other factors put together. In view of this, the purchasing activity call for the serious attention of management. In majority of manufacturing enterprises, materials costs can be as high as 60 percent of total product cost. In such cases, purchases may range widely beyond this limit and as high as 82 percent depending on the types of business and the kind of materials used. Most mass production industries come within the latter category. This situation is similarly applicable to assembly operations where product component are purchased in highly fabricated form and have thus acquired advalorum in the previous stages of fabrication before its purchase. On the other hand, where the product is not manufactured from materials purchased but comes from natural deposits such as the case with extractives industries – mining, quarrying and oil wells – the purchase ratio is comparatively low. Manufacturing industries which require highly skilled and a large percentage of labour invariably require smaller quantities of materials which normally show purchases as a relatively smaller percentage of total cost. Also in service industries such as laundry and dry-cleaning where after the basic facilities have been installed, supplies are mere incidental means of implementing services, purchasing will be relatively low as a percentage of operational activity. This is due to mechanization and the growing trend towards specialization in manufacturing. Lamar and Dobler (1983:35) contend that the basic goal of any industrial activity is the development and manufacture of products that can be marketed at a profit. This goal is accomplished by the appropriate blending of what many management authorities call die five Ms: machines, men, materials, money and management. Materials today are the lifeblood of industry, No industrial organization can operate without them. They must be available at the proper time, in the proper quantity, at the proper place, and at the proper price. Failure of any of these responsibilities concerning materials adds to company costs and decreases company’s profit just as surely as do outmoded production methods, inefficient personnel and inefficient sailing.
KEYWORDS: Materials, Support, Supply, Demand, Company, Services, Quality, Dublication, Objectives, Continuity, Maintain, Price, Simple Records, Order, Programme, Industry, Operation, Basic, Concerned, Competitive, Avoid, Flow, Standard, Meet.
IMPACT OF GLOBALIZATION AND INFORMATION COMMUNICATION TECHNOLOGY ON THE PRACTICE OF ACCOUNTANCY PROFESSION IN NIGERIA
ALI USMAN MAMUDA; & MOHAMMED YUSUF
Department of Accountancy, Ramat Polytechnic Maiduguri
The extent of considerable services being provided by the professional accountants in Nigeria makes their roles to be subjected to changes with the change of time, business and economic policies. This study was conducted to examine the impact of globalization and Information and Communication Technology (ICT) on the practice of Accountancy Profession in Nigeria. The data for the study were collected mainly from questionnaire. The analyses and interpretations from this work were strictly based on the information obtained from selected practicing professional accountants in Nigeria. The population for this study is professional accountants in North East Nigeria. A sample size of 182 professional accountants in public practice, private sector, audit firms and sole practitioners was selected from the North East Nigeria using random sampling technique. One hundred and eighty two (182) copies of questionnaire were successfully filled and retrieved. The study discovered that professional accountants in audit firms are equipped with ICT and knowledge of global financial practice. However, the study discovered that other professional accountants working in public or private sectors are not properly equipped with ICT and global financial practice. The study recommends among others that professional accountants must ensure that they acquire basic technical knowledge, conceptual understanding, analytical skills, intellectual ability and sound communication skills. They should also be proactive in approach and always ready to face challenges of the financial world through efficient and relevant ICT training. This can also be achieved through engaging in acquiring training and re-training from their professional bodies and proficient ICT centres as well as reading widely to be conscious of the global financial practice and technological advancement.
Keywords: ICT, Globalisation, Professional Accountants, Technological Advancement,
STAFF EVALUATION AND ORGANIZATIONAL PERFORMANCE IN LIMITED LIABILITY COMPANY: THE NEXUS
BASHARI HADIZA; & BELLO DOGOJI ADAMU
Department of Business Administration, the Federal Polytechnic, Bauchi
This study examined the relationship between annual staff evaluation and organizational performance, enhance productivity in an organization and determine training needs of workers, also helps an organization to place employees in tasks they are best suited for in order to improve productivity, when productivity is improved it leads to increased earnings in the organization. The study adopted a descriptive design. A twenty-item unstructured questionnaire was used to assess 450 randomly selected staffs on effect of staff evaluation on organizational performance in Ramadan Press Ltd, Bauchi, Nigeria. Three research questions and two hypotheses were used as guides to the study. Data obtained were analyzed using descriptive statistics Pearson Product Moment Correlation. The major findings revealed that there is a significant and positive relationship between staff Evaluation and Organizational Performance, and that staff evaluation is useful in improving the productivity as well as identifying training need of employees in an organization. Because of its importance management of the organization should educate the employees on the purpose of Staff evaluation exercise so that they are clearly aware that it is not a weapon of punishment but an instrument designed to assist them to grow and improve, and management should organize course for managers on how to carry out a successful staff evaluation of their subordinates.
Keywords: Staff Evaluation, productivity, training, Organizational Performance.
EFFECT OF SHOP SYMBOLISM ON CUSTOMER LOYALTY AMONG SELECTED PHARMACEUTICAL CHEMISTS IN MAIDUGURI METROPOLITAN COUNCIL, BORNO STATE
MOHAMMED HASSAN1 & ALI BABA MUSAMI2
Dept. of Marketing, Ramat Polytechnic Maiduguri
This study examined the effect of shop symbolism on customer loyalty among pharmaceutical chemists in Maiduguri Metropolitan Council. The population of the study was three hundred and ninety thousand six hundred and seven (390,607) with a sample size of three hundred and ninety nine (399) respondents obtained using Yamane formula. Data was collected using structured questionnaires administered to the respondents. The data collected was analysed using multiple regression analysis with the aid of statistical package for social sciences (SPSS). The major finding of the study revealed that there is significant effect of shop behaviour on customer loyalty among pharmaceutical chemists among Maiduguri Metropolitan Council. The study recommends that managers of the stores should focus attention on committed and loyal customers whose expectation is to remain in the organization, managers should also design a unique symbol that are easy to be identifies and recognises by presents and existing customers.
Keywords: Shop Symbolism, Customer Loyalty, Pharmaceutical Chemists