Volume 1, No. 2 – December, 2021
ABSTRACT:
This study examined the effect of financial planning on the management performance of quoted manufacturing companies in Nigeria between 2010 and 2019. The study employs panel regression analysis. The fixed-effect model and random effect model were used with a special focus on the heterogeneity of cross-sectional units, and the Hausman test with inference at a 5% significant level.
The study reveals that firm showed a positive and significant effect on return on assets (coefficient = 0.1814; p-value = 0.0000). Leverage had a negative and statistically significant effect [β = -0.0577; P-value =0.0015] on the return on assets of quoted manufacturing companies in Nigeria. Liquidity (LIQT) shows a negative and statistically significant effect on return on assets [β = -0.32677 4.14. P =0.0000] of quoted manufacturing companies in Nigeria.
The study ascertains that leverages and liquidity have a negative influence on the return on assets of quoted manufacturing companies in Nigeria. As a result, this study concludes that manufacturing businesses in Nigeria cannot optimise profit and shareholder wealth unless they pay close attention to the management of the various components of their finances.
According to the report, listed manufacturing businesses in Nigeria should focus their efforts on financial planning to increase their ROA levels. The Liquidity and leverages period for manufacturing companies shows a negative effect on ROA, Therefore, this sector should focus on working on Liquidity and leverages in reducing its negative effect.
Keywords: Financial planning, Leverages, Liquidity, Manufacturing companies, Management performance.
ABSTRACT:
The study analysed the effect of liquidity management on the financial performance of manufacturing firms in Nigeria from 2010 to 2019. It examined the outcome of Current Ratio (CNT), Quick Ratio (QR), Cash Ratio (CR) and Net Working Capital Ratio (NWCR) on the financial performance (PAT) of manufacturing firms in Nigeria. Ex-post-factor research design was adopted, as the data used were readily accessible and are derived from the published annual reports of the sampled manufacturing firms.
Ten quoted manufacturing firms on Nigeria Stock Exchange (NSE) were sampled using a judgemental sampling technique. The analyses were carried out using the ordinary least squared method (OLS); while the hypothesis was tested using the Pearson correlation coefficient technique. The results from data analyses found a negative and insignificant relationship between the CNT and the financial performance of manufacturing firms in Nigeria.
Also, QR revealed a positive and insignificant link with the financial performance of manufacturing firms in Nigeria. Simultaneously, there was a negative and insignificant association between the Cash ratio and the financial performance of manufacturing firms in Nigeria. While NWCR was found to be positively and insignificantly related to the financial performance of manufacturing firms in Nigeria.
These findings fortified the fact that the survival and continuity of the selected manufacturing firms in the Nigeria Stock Exchange (NSE) would depend on not compromising the effectiveness and efficiency of both QR and NWCR as tools for evaluating their financial performance. That is, they (both QR and NWCR) would aid the firms to maintain optimal cash and cash equivalent level, thereby helping them meet their short-term obligations as well as enhance their day-to-day business operations and investment.
The study recommended that the selected manufacturing firms should sustain account receivables management to ensure payments are received promptly, thereby increasing their cash reserves. The firms should re-invest into the business and lessen the number of current debts by negotiating long term liabilities. In addition, they should maintain working capital management, to control excessive cash and fund.
Keywords: Financial Performance, Liquidity management, Liquidity ratios, Profitability
ABSTRACT:
Trade is necessitated among nations of the world because no country can live in autarky irrespective of resource and technological endowment. Thus, this paper examined the relationship between trade integration and Nigeria’s economic growth; trade integration proxy by export, import, and trade openness are the independent variable while economic growth proxy by gross domestic product is the dependent variable.
The study used secondary time series data obtained from the World Development Indicators (WDI) from 1981 to 2019 and a cointegration approach was used for the study. The Augmented Dickey-Fuller (ADF) unit root test result for stationarity revealed the constancy of all variables at first difference.
Further results show that imports and exports are the main determinants of Nigeria’s economic growth and the Error Correction Model (ECM) showed that about 34 percent of disequilibria in Nigeria’s economic growth in the past year were corrected for in the present year. It was concluded that there is a long-run relationship between trade integration and economic growth; and that export, trade openness, and import have a positive impact on the economic growth of Nigeria in the long run.
The study thus recommended based on its results that government should formulate an export diversifying policy to shift concentration from oil export by encouraging non-oil exports and discouraging importation of goods that can be produced locally while encouraging the importation of capital goods that can strengthen local industries to ensure greater productivity for exportation and so on.
Keywords: Cointegration, Economic Growth, Trade Integration.
ABSTRACT:
The soundness of a company’s financial policy dictates its ability to make sound financial choices. When it comes to determining a company’s value and ultimate success or failure, policies like the ones outlined above—which sources of funding to use in relation to external controllability for major investments and which equity ratios to allocate—have significant effects on the corporate governance structure and ultimately on how returns are distributed to all stakeholders.
Investing, financial, and dividend choices, as well as their influence on a company’s value creation or depletion, are the focus of this research. Firms in the consumer sector were selected because they represent volume and economics of scale in terms of labour productivity, consumer spending, turnover, and investors’ views.
A six-year period from 2013 to 2019 yielded data from the annual reports of 13 Nigerian stock exchange-listed firms. Return on asset (ROA) was used as a proxy for the dependent variable—Firm value—while debt-to-asset ratio, dividend payment, and equity-to-assets were used as independent variables.
Results showed that financial policy indicators accounted for a large portion of the firm’s value by analyzing both cross-sectional and panel data. That the three external factors accounted for 78 percent of the variations in Firms value is very noteworthy. Financial policies are critical to success in Nigeria’s fast-moving and unpredictable consumer products market, and this is evident from the fact that successful enterprises must have the ability to create them.
Training for all managers and supervisors at the decision-making level of the firm should be a top priority, since their day-to-day activities may either create or break the company’s financial policies. Dividend payment has a negative association with debt and equity-asset ratios, but a positive link with return on assets (ROA) .
Keywords: Firms Value, Financial Policy, Dividend Payout, Equity Asset, Nigeria Stock Exchange
ABSTRACT:
The study examined the nexus between loan portfolio management and profitability of deposit money banks in Nigeria for the period 2009-2019. Loan portfolio management was measured using the non-performing loan-to-total loan ratio, risk-asset ratio, and loan-to-deposit ratio of deposit money banks while profitability was measured by return on assets.
The panel data (random-effect) technique was employed to analyze the data sourced from annual reports of deposit money banks in Nigeria. From the empirical result, the study showed that the non-performing loan-to-total loan ratio and risk-asset ratio had a negative and significant effect on the profitability of deposit money banks in Nigeria.
On the other hand, the study showed that the loan-to-deposit ratio had a positive and insignificant effect on the profitability of deposit money banks in Nigeria. The study recommended that managers of deposit money banks should limit the exposure of their banks to non-performing loans through the prohibition of insider dealings and recklessness in granting loans and advances to customers.
Keywords: Loan portfolio management, non-performing loan-to-total loan ratio, Risk-asset ratio, Loan-to-deposit ratio, Return on assets, Deposit money banks.
ABSTRACT:
This study examined the impact of E-commerce on customer satisfaction among students of some selected universities in Lagos state. The study’s goal is to look into the effects of pricing, web accessibility, and web security on customer satisfaction. A survey research design was used to investigate descriptive and inferential research.
The data was gathered from primary sources. A total of 450 questionnaires were distributed, with 427 questionnaires being collected from the study’s population of 100 level students from the University of Lagos, Lagos State University, and Caleb University. Simple percentages were used to analyse the data, with Pearson Correlation and Multiple Regression Analysis being used to test the hypothesis. Customer satisfaction is influenced by pricing/variation and reliability, according to the research.
The study recommends that e-commerce administrators should give a greater premium to fair pricing and product quality and also make sure customer complaints and reservations concerning returns and refunds are resolved quickly and promptly.
Keywords: Accessibility, Covid-19, Customer Satisfaction, Pricing and Variation, Reliability.
ABSTRACT:
This study examined the impact of the agro-allied industry performance on the growth of the agricultural sector in Nigeria. The study evaluated the growth rate in the agricultural sector in Nigeria, the study evaluated the performance of the Agro-allied industry in Nigeria and also examined the impact of the performance of the Agro-allied industry on the growth of the Agricultural sector in Nigeria.
Agricultural growth was measured using agricultural value-added while the independent variables; Performance was measured in relation to profitability, liquidity, efficiency, solvency and firm size. The study made use of secondary data, derived from the annual financial statements of the firms in the agro-allied industry in Nigeria from 2010 to 2019. A sample of 11 firms was selected from the population based on the availability of data.
The data for the study were analysed using the panel least square method of regression. The study concluded that the performance of the agro-allied industry in relation to efficiency and firm’s size has a positive and significant effect on agricultural sector growth, while the performance of the agro-allied industry to liquidity, solvency and profitability has an inverse effect on the agricultural sector growth but only the performance to liquidity was significant.
The study recommended that to enhance agriculture sector growth in the economy the government and other stakeholders should improve the performance of the agro-allied industry in relation to efficiency and firm size as these are the performances that positively influence agricultural sector growth.
Keywords: Agricultural Sector, Agro-Allied Industry, Performance, Growth .
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ABSTRACT:
Brand Loyalty is the only way for businesses to thrive in today’s very competitive industry. The purpose of this research was to investigate the impact of customer satisfaction on brand loyalty at a cement manufacturing firm in Nigeria. It looked especially at the impact of service quality, perceived quality, perceived value, and customer satisfaction on brand loyalty.
This research relied on primary data sources. Data were obtained from 290 customers chosen at random from a total sample of 1029 Lafarge Plc customers. The assumptions were tested using regression analysis, and the findings revealed that perceived quality had a favourable influence on consumer loyalty. Brand loyalty, perceived quality, and perceived worth Our research’s regression analysis reveals a positive and significant association between perceived quality and brand loyalty, with β=.389 and p<0.01.
Furthermore, the findings suggest that perceived quality contributes more than 38% to Brand Loyalty. According to the retrospective data, there is an insignificant link between perceived value and Brand Loyalty with β=.073) and p>0.05). In addition, the regression findings between communication and brand loyalty showed values (β=.077) and (p>0.01).
The findings revealed a substantial and favourable association between communication and brand loyalty. The research shows that perceived quality, perceived value, and communication all have a substantial impact on brand loyalty and the relationship to consumer happiness. According to the survey, brand experiences should be personalized to promote clients’ uniqueness and distinctiveness to increase brand loyalty among consumers to certain businesses.
Keywords: Brand Loyalty, Communication, Customer Satisfaction, Perceived Quality, Perceived Value
ABSTRACT:
This study examined the relationship between strategic management and productivity of selected food and beverage industries in the Ado-Odo Ota Local Government Area.
Descriptive survey research was adopted for the study, which involved the administration of one hundred and fifty (150) questionnaires to the management staff of thirteen (13) selected food and beverage industries in the Ado-Odo Ota Local Government Area.
Descriptive statistics of frequency, percentage, mean and standard deviation were used to present concise information on the responses of the management staff, while inferential statistics of ANOVA were used to test the formulated hypotheses.
It was revealed from the analysis that there was a significant relationship between environmental scanning and operational cost (f =5.19, p<0.05); strategy formulation has a significant relationship with sales volume (f=6.54, p<0.05); strategy implementation has a significant relationship with customers’ satisfaction (f=8.71, p<0.05); while strategy evaluation has a relationship with market size (f=12.7, p<0.05).
The study concludes that the practice of strategic management was identified to have been adopted by the management staff of the food and beverage industry in Ado-Odo Ota LGA, while it was recommended that the food and beverage industry should make adequate internal and external environmental analysis by adopting SWOT analysis.
Keywords: Strategic, Organisation, Management, Productivity, Industry.
ABSTRACT:
Career management is critical for both the employee and the organisation. As such, using Access Bank Nig. Plc in Victoria Island Lagos as a case study, this paper investigates how career management affects organisational performance.
The objectives of this paper are to investigate how employee personality in career management, job rotation, and employee career management training affect organisation performance at Access Bank Nigeria PLC. Using the Taro Yamane formula, a sample size of 133 was calculated from an estimated population of 200 employees.
According to the findings of the analysis, employees’ personality in career management has a positive and significant effect on organisational performance in Access Bank Nigeria Plc, implying that employees’ personality in career management will lead to a significant improvement in their job performance, increasing organisational performance.
It also revealed that job rotation has a negative but significant relationship with organisational performance in Access Bank Nigeria Plc, implying that job rotation would reduce employee productivity, lowering organisational performance.
Finally, the results showed that training employees in career management have a positive and significant effect on organisational performance in Access Bank Nigeria Plc, implying that providing employees with required on-the-job training will lead to the expansion of key competencies, job specifications, additional skills knowledge, and capabilities, thereby increasing productivity and simultaneously improving organisational performance.
Based on these findings, it is recommended that organisational management provide employees with the tools they need to advance their careers, such as setting developmental goals, creating internal job opportunities, and establishing informal career development opportunities.
Keywords: Career management, Employee personality, Job rotation, Training, Organisational performance.
ABSTRACT:
The moderating effect of Emotional Intelligence (EI) levels on the efficiency of training tactics on business innovation competency of managers in office document automation enterprises in Lagos, Lagos State, Nigeria was investigated in this study.
The study employed EI levels as an explanatory tool to understand the efficiency of training programmes on managers’ business innovation ability. The study used a 3x3x2 factorial design matrix with a pre-test, post-test, control group, and experimental design. The study’s participants are 126 managers chosen at random from three organisations in Lagos.
The Schutte et al EI Assessment Scale was used to select and categorise respondents based on their scale scores on degrees of EI. To collect data on business innovation competency, one standardised instrument, Akinboye’s Business Innovation Assessment scale, was adapted and employed, while analysis of covariance and the t-test statistical approach was used to analyse the collected data. The study’s findings demonstrated a significant difference in business innovation competency among individuals with different degrees of EI – high, medium, and low (F (2.107) = 3.561 p<0.05).
Based on the study’s findings, it is recommended that human resource managers, trainers, and curriculum designers consider developing and incorporating behavioural qualities that constitute EI into business innovation programmes for managers in IT organisations.
Furthermore, given the results that teams made up of individuals with higher EI levels perform better on tasks than teams made up of members with lower EI levels, human resource managers should consider incorporating EI levels into their organization’s recruiting and selection process.
Keywords: Emotional Intelligence (EI), Business innovation competence
ABSTRACT:
This study conducted an empirical investigation on the impacts of exchange rate and FDI on agricultural productivity in Nigeria, from 1986-to 2018. The study made use of the vector autoregressive (VAR) method for analysis.
Test for unit root was conducted using the augmented dickey fuller statistic, while Johansen statistic was used to test for the long-run relationship among the datasets. The data were stationary and had a long-run relationship. Results from the study found that FDI and foreign exchange rate impact negatively on agricultural output in Nigeria.
With this, the study concluded that an increase in the exchange rate is detrimental to agricultural output in Nigeria, while FDI increases have inhibited the productivity of the agricultural sector in the country. The study recommends that the economy of Nigeria should be re-diversified to improve the value of the Naira and ensure that the inflow of foreign direct investments aids productivity in the agricultural sector.
Keywords: FDI, Agricultural Productivity in Nigeria, Exchange rate.
ABSTRACT:
Proper material management is necessary to achieve time and cost-related goals in a project. Construction materials usually constitute a major portion of the total cost of a building construction project. An essential factor adversely affecting the performance of construction projects is the improper handling of materials during site activities.
This study investigates the influence of material management systems on building construction project delivery in Lagos State. Questionnaires were administered to professionals in the construction industry to determine how material management can affect a construction project. The data generated were analysed using descriptive statistics.
The study showed that the root causes for ineffective material management are adduced to the material identification and procurement phase. Lack of compliance to specifications and standards, little knowledge of material specifications and standards and poor communication system have been highlighted as the main causes of inefficient management of materials because if these things are present in a project there is no way that the project can be executed smoothly within budgeted cost and required time.
The study reveals that the top three (3) preferred solutions for the problem of ineffective material management are identified as adequate details on material specifications and standards, provision of complete detailed and specification drawings and a detailed material schedule plan. The proffered solution can be subjected to execution through policy formation by the government and professional bodies.
Keywords: Building Material, Construction, Cost Overrun, Material Management, Project Delivery.
ABSTRACT:
It is factual that human memories cannot be free from some degree of deficiency, which is capable of reducing the effectiveness of decision making in the recruitment and selection process of applicants. Given mitigating the effect of this deficiency, the study specifically examined the influence of information management systems on the recruitment and selection process, intending to know the relationship between decision making and recruitment and selection process in Crusader Sterling Pension (CSP) Nig. LTD.
A descriptive survey research design was employed with a random sample size of 184 respondents from a population of 340 staff in CSP in the Southwestern State of Nigeria. The data were collected through primary sources and analysed using frequency tables and percentages while the set hypotheses were tested and analysed using Pearson Product Moment Correlation and Canonical Correlation respectively.
Finding established a significant association between cost savings and the recruitment and selection process. The relationship between time savings and the recruitment and selection process was also significant.
It was recommended that MIS packages should be effectively taught to enhance the staff’s capability and competence. It is recommended that the recruitment and selection criteria should be done with utmost ethical consistency and transparency to put the round peg in a round hole.
The insightful information provided by the MIS should be used, and management should not limit their responsibilities to recruitment and selection alone.
Keywords: Management Information System, Human Resources, Canonical Correlation.
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The study examined the customers/banker’s relationship and bank performance in Nigeria: An appraisal of Bank services. The specific objectives are Customer demand, Information technology, banker/customer, bank services and bank performance.
Primary data were sourced through the use of a structured questionnaire while one hundred and twenty questionnaires were administered to customers of which eighty were returned and used for this research. Both descriptive and inferential statistics were used. The descriptive involved frequency and percentage while inferential are regression and Correlation analysis.
The results revealed that banker/customer and bank performance (r[80] = 0.975, p<0.01); customer demand (p< 0.05) and banker/customer and information technology (r[80] = 0.818, p<0.01).
The study concluded that formal training of bankers on how to treat customers improves customer satisfaction and likewise, the effective policy on banker/customer relationship facilitates banks efficiency, there is high satisfaction of customer demand of bank services which means that there are effective and efficient services that enhance customers’ satisfaction and with the way they treat their customers and the introduction of information technology has been of a benefit to customers and the banks which has a greater impact in attracting the customers to the bank.
Keywords: Customers’ demands, information technology, bank services, bank performance.