INTERNATIONAL JOURNAL OF FINANCIAL RESEARCH AND MANAGEMENT SCIENCE (TIJFRMS)
VOL. 14 (7) AUGUST, 2023
TIMBOU-AFRICAN ACADEMIC PUBLICATIONS,
Centre for African Development Studies, Federal Ministry of Education, Abuja, FCT-Nigeria.
COST OF EXERCISING PROFESSIONAL EXPERTISE AND AUDIT QUALITY IN NIGERIA
*PROF. A. S. KASUM; *DR. T. O. FAGBEMI; *TAIWO H. ODEDIRAN; *IBIDUNNI E. DARAMOLA; **GBENGA F. BABARINDE
*Department of Accounting, Faculty of Management Sciences, University of Ilorin, Ilorin, Nigeria **Department of Banking and Finance, Faculty of Social and Management Sciences, Modibbo Adama University, Yola, Nigeria
An audit is a service performed by a firm of accountants to validate information provided by management in order to raise the level of confidence in the financial statements of corporate businesses. Literature has revealed that the cost of professional expertise is thwarting the exercise of professional scepticism and judgment, which has led to poor audit quality. Therefore, this study aimed to examine the effect of the cost of professional expertise on audit quality in Nigeria. The study employed a survey research design, and primary data were obtained through a structured questionnaire administered to audit partners, audit managers, and audit seniors across Nigeria. The analysis of the data was carried out using Partial Least Squares Structural Equation Modeling (PLS-SEM) procedures. The study revealed that budget overruns and auditor-client conflict as costs of exercising professional expertise have positive significant effects on audit quality, whereas auditors’ marginal cost has no significant effect on audit quality in Nigeria. It is therefore concluded that cost of exercising professional expertise have significant effect on audit quality in Nigeria. This study recommended that, in order to avoid budget overruns, auditors should make use of experienced audit staff that are familiar with the job at hand. Also, audit committee and chief financial officer should handle issues that may result to conflict between external auditor and the client professionally.
Keywords: Cost of professional expertise, audit quality, accountants, audit seniors audit partners, audit managers.
BANK MARKET CONCENTRATION, EQUITY CAPITAL AND STABILITY OF LISTED DEPOSIT MONEY BANKS IN NIGERIA: EVIDENCE FROM PANEL ARDL APPROACH
*JATSON, MAKAMA MATTHEW; *PROF. ONI, O. EMMANUEL; *PROF. ADEYEYE, M. M; & **MUHAMMAD JAMILU SULEIMAN
*Department of Entrepreneurship and Business Studies, School of Innovative Technology, Federal University of Technology, FUT, Minna. **Kaduna State College of Education, Gidan Waya
Banks are the oil that lubricates the wheels serving as connecting rod propelling economic growth and development. Therefore, bank stability is crucial because of the intermediation role banks perform. Improper intermediation led to the global financial crisis (GFC) of 2007/2008 that further resulted in most banks concentration to avoid system instability. The Nigerian banking system suffered instability at pre-consolidation due to equity capital erosion caused by exacerbation of nonperforming loans, unprofitability and illiquidity of the system. This necessitated banks consolidation in 2005 that further led to the concentration of the Nigeria’s Deposit Money Banks (NDMBs). Despite concentration the NDMBs manifest symptoms of instability. The objective is to examine the effect of banks equity capital on the stability of NDMBs. Therefore, the study empirically investigated the concentration-stability nexus using quarterly dataset of equity capital, concentration ratio, net interest income and firm size sourced from the annual reports and accounts of the banks over the period 2006 and 2020. The study employed the panel ARDL model along the z-score for analysis. Results for the long-run and short-run ARDL estimate revealed absence of statistical association between equity capital and bank stability. Both net interest income and firm size negatively and insignificantly impacted equity capital. However, market concentration level was positive and significant in the long-run but positive and insignificant in the short-run. It was recommended that government and regulatory authorities to reconsider recapitalizing existing NDMBs by permitting interaction of market forces such that only resilient banks can thrive.
Keywords: Bank Market Concentration, Bank Stability, Bank Market Power, Z-score, panel ARDL
INNOVATION AND FIRMS’ PERFORMANCE IN THE TELECOMMUNICATION INDUSTRY IN THE FEDERAL CAPITAL TERRITORY (FCT), ABUJA, NIGERIA
ETIM, THADDEUS CLEMENT1; OLUSHOLA OLUWATOSIN SOLOMON2 & DR. SARKA SOLOMON WOGAN3
1&2Department of Economics, Veritas University, Abuja. 3Department of Public Administration, National Open University of Nigeria, Abuja.
This study explores the impact of innovativeness on Nigerian Telecommunication operators’ performance in the Federal Capital Territory (FCT) and its implications for the country’s GDP. Data was collected through questionnaires from 500 customers of Airtel, Globacom, MTN, and 9mobile in Abuja Municipal Area, with 423 respondents analyzed. The study applies Joseph Schumpeter’s Innovation theory of Profit, investigating technical, marketing, and product innovations as independent variables affecting telecom firms’ profitability. The survey method research design was employed. The findings indicate that marketing innovation, product innovation, and technical innovation can enhance the likelihood of profitability for telecom operators in the FCT. Notably, a significant link is established between marketing innovation and telecommunication performance, supported by a p-value of 0.0377 at a 5% significance level. However, technical and product innovations’ p-values are 0.5460 and 0.3444 respectively, rendering them statistically insignificant. While technical and product innovations exhibit positive connections with telecom firms’ profitability, their impact is relatively weak. On the other hand, marketing innovation exerts a more robust influence on telecommunication service providers’ performance in the FCT. Consequently, the study recommends increased investment in marketing innovation by telecom companies to enhance their profitability.
Keywords: Innovation, Firms’ Performance, Telecommunication Industry, Telecom Services, Telecom Subscribers, Abuja, Nigeria.
EFFECT OF JOB STRESS ON EMPLOYEES PERFORMANCE ON SELECTED GENERAL HOSPITAL IN NASARAWA STATE, NIGERIA
1DANIEL DARE JOSEPH PhD; & 2AHMED ALIYU TANKO
1Department of Business Administration, University of Abuja – Nigeria. 2Department of Business Administration & Management, Federal Polytechnic, Nasarawa, Nasarawa State – Nigeria.
General hospital is expected to provide quality services to patients at the time that the services is seriously needed but this is often not achieved because the proportion of patients needing the services on a daily basis continues to increase and the available capacity to meet the challenges is grossly inadequate and the general hospital has employed several strategies for managing stress such as good working conditions, training, payment of salaries on time, delegation of authority, welfare package among others. In spite of all these accessing the services is still entangled with job stressors like perception, anxiety and workload. The objective of the study is to investigate the effect of job stress on the employees’ performance in selected general hospital in Nasarawa state, Nigeria. Survey method was used and data was collected using a well-structured questionnaire which was analyzed using Regression analysis to test the formulated hypotheses with a population of 2000 employees’ and a sample of 333 respondents using Taro Yamane’s simplified formulae. The results showed that government at all levels are not sincere to reduce the brain-drain which creates a lot of job stressors in selected general hospital in Nasarawa state, Nigeria. In light of these, the study recommended that government at all levels should be sincere and work hard to reduce brain-drain by adequately wooing medical professionals who are leaving the country to work also, encourage creativity and innovation to manage employee’s perception, build recreational centre for relaxation and adequately equip it to alleviate the anxiety.
Keywords: Employee, job, performance, stress and stressor.
EFFECT OF CORPORATE GOVERNANCE ON FINANCIAL PERFORMANCE OF LISTED OIL AND GAS COMPANIES IN NIGERIA
YUSHAU ALIYU; DR. MAHMOOD IBRAHIM; & DR. MUHAMMAD AUWAL KABIR
Department of Accounting, Bauchi State University Gadau
Corporate governance has received much concern worldwide because of an increase in corporate failure in many companies. Research has shows evidence that corporate governance and financial performance are related. However corporate governance has being rarely connected to oil and gas financial performance. Hence this study, examines the effect of corporate governance on the financial performance of listed oil and gas companies in Nigeria. The main objective of this study is to find out whether or not corporate governance mechanisms (Board gender diversity and Block ownership) have influence on the financial performance of listed Nigerian oil and gas companies, Return on Asset (ROA) to measure the financial performance. Secondary data of 8 listed oil and gas companies on the Nigeria stock exchange from 2011 to 2020 were considered as sample of the study out of 13 population of the study. The study adopted the ex-post facto research design. Descriptive statistics, Pearson correlation and multiple regression techniques were used for estimation. The finding from the analysis shows that board gender diversity has negative and insignificant impact on return on assets. This suggests that board gender diversity does not in any way affect the financial performance of oil and gas companies in Nigeria. The result on block ownership and financial performance shows a positive and significant impact on return on assets. This suggests that an increase in block ownership leads to significant increase in financial performance represented by ROA of the listed oil and gas companies in Nigeria.
Keywords: Corporate Governance, Financial Performance, Oil and Gas Companies, Return on Asset.
EFFECT OF MANAGEMENT INFORMATION SYSTEM ON EMPLOYEES’ PERFORMANCE IN AN ORGANISATION (A STUDY OF ZEDCREST CAPITAL LIMITED, LAGOS)
DR MAGBAGBEOLA, JOSHUA ADEKUNLE OLUBUKOLA
Department of Industrial Relations & Human Resource Management, Joseph Ayo Babalola University, Ikeji-arakeji, Osun State
This study examines the impact of management information systems (MIS) on employees’ performance in the workplace. Specifically, it investigates the effects of the MIS implementation on the performance of employees in ZedCrest Capital Limited, an investment company headquartered in Lagos, Nigeria. In order to gather data for the study, a quantitative research design was adopted with the aid of a structured questionnaire on a sample size of 124 employees. The results showed that MIS implementation has a significant positive effect on employees’ performance. Furthermore, the results indicate that the MIS implementation increased employees’ productivity by an average of 32%. It also found that the new system has reduced the response time and increased customer satisfaction with a margin of 35%. Finally, it was found that the employees had a more positive attitude towards MIS in comparison to their previous outlook of the manual system. The findings suggest that the implementation of MIS has improved the performance of the employees of ZedCrest Capital Limited and provided additional benefits to the organization and its customers.
Keywords: Management Information System (MIS), Employees’ Performance, Organisation, Productivity
EFFECTS OF POVERTY AND SECURITY THREATS ON NIGERIA’S ECONOMIC GROWTH
FASHINA, OLUFUNMI EMMANUEL
Department of Economics, Faculty of Management and Social Sciences, Lead City University, Ibadan
This research study investigates the economic growth impact of poverty and security threats in Nigeria using an annual time series data spanning the years 1981–2020. It employs the Autoregressive Distributed Lag (ARDL) bound estimation method to look at the dynamic interactions between security threats, poverty rate, and economic growth. The research outcomes demonstrate that the short-term slow growth in output was influenced by the poverty rate. Also, long-term output growth and the poverty rate are, nonetheless, positively correlated. It implies that even if the number of people living below poverty line rises, the economy still continues to grow. This is also true in the long run, showing that the economy has expanded despite a rise in the number of poor people over time. It implies that the Nigerian economy does not help the poor. Although security doesn’t pose a threat to output growth in the short term, but it does pose a long-term threat to income growth. Thus, political terrorism and expropriation risk have an impact on economic growth. Intuitively, low poverty will lead to economic growth that is merely incremental rather than substantive development in the economy. This scenario can only be maintained and improved upon if specific policy measures, such as secured lives and properties as well as sound fiscal and monetary policies are implemented. These measures would create an enabling environment, draw private investment, and increase productivity.
Keywords: Poverty, security threats, inflation, unemployment and output growth.
CORPORATION TAX AND INVESTMENT DECISION OF LISTED MANUFACTURING COMPANIES IN NIGERIA
AFOLABI, ADEGBOYEGA R. PhD
Department of Accounting, Banking and Finance, Chrisland University, Abeokuta.
Investment is a major decision that helps a company to survive the tide and taxation is a compulsory levy which no company should dream of evading. The importance of these two variable led the study to examine the effect of Corporation tax on investment decisions of listed manufacturing companies in Nigeria. The study used data from ten (10) listed companies on the Nigerian Exchange Group, of which data for the study was collected from the annual reports of the companies. Secondary source of data was used while the research design adopted in this study was ex-post facto design to obtain data from the audited annual reports. Population of the study consist of 41 listed manufacturing companies out of which 10 companies were chosen using random sampling technique. Regression analysis was used as a technique for data analysis using E-view 9. The data span across ten (10) years from the period of 2012-2021. Findings from the study revealed that Education tax has positive significant effect on Investment decision with t-statistic of 2.7918 and p-value of 0.0211 < 0.05. Also, Companies Income Tax has positive significant effect on Investment Decision with F-Statistics of 2.2899 and p-value of 0.04 < 0.05. The study concluded that Corporation tax has positive significant effect on Investment Decisions with F-Statistic of 9.6442 (p-value of 0.0000 < 0.05). It recommended that all manufacturing companies should take into account the need to investigate the various tax incentives that are available to them. Doing so will reduce any future deferred tax liabilities that may accrue to the company and increase tax revenues that the government needs to finance important public infrastructure projects that will make it easier for the manufacturing companies listed here to conduct business.
WORKPLACE SPIRITUALITY AND AUDIT QUALITY: MEDIATING EFFECT OF AUDITOR’S DYSFUNCTIONAL BEHAVIOR AMONG OFFICES OF AUDITOR GENERALS IN NORTH EASTERN, NIGERIA
JOHNSON AYANWUYI; & YUSUF OVA MUTALIB
Department of Accountancy, School of Business Studies, Federal Polytechnic, Bauchi, Bauchi State, Nigeria.
This study aims to analyze the mediating effect of auditor dysfunctional behavior on the relationship between workplace spirituality and audit quality at The Office of Auditor General within the north Eastern Nigeria. The research approach used is quantitative and casual design. The number of research samples was 292 auditors taken through proportionate sampling. The data analysis used descriptive and inferential statistical analysis by employing regression analysis. The results show that there is a significant negative effect of workplace spirituality on dysfunctional auditor behavior, there is a significant positive effect of workplace spirituality on audit quality, and there is a significant negative mediating effect of dysfunctional auditor behavior on the relationship between workplace spirituality and audit quality. The conclusions of the study state that there is a significant effect of workplace spirituality on dysfunctional auditor behavior. Implication to audit quality is that the audit quality can be improved through workplace spirituality and dysfunctional auditor behavior enhancing regular check on records and book of accounts of government agencies and Ministries.
Keywords: Workplace spirituality; Auditor; Dysfunctional behavior; Audit quality
EVALUATING DIGITAL MARKETING TECHNOLOGY IN TRADE FAIR TOWARDS HOSPITALITY AND TOURISM DESTINATION PROMOTION IN BAUCHI, BAUCHI STATE
JOSHUA MAXWELL ELGEN, RABIU M. GARBA, SABO D. SAGAGI AND LYDIA EZEH
National Institute For Hospitality and Tourism
The effect of trade fair in hospitality and tourism industry is not well known; however, it is not quite certain digital marketing has influenced people in their choice to patronize the industry. The study aims at evaluating trade fair in hospitality and tourism promotion in Bauchi State. The study is significant in providing useful suggestion to stakeholders in the Industry. The study was faced with limited time. Data was collected using questionnaire, was used in the analysis with result presented in table and interpreted to draw inference. The study revealed that trade fair is a good platform for promotion of goods and services in the industry, trade fair can be promoted to increase sales in the industry, digital marketing can be a tools for sales promotion, trade fair as an annual event has little effect on the industry, digitalization is cheaper and cost effective, people use phones to search for services rather than manual search offline etc. The study concludes that digital marketing is a good option for promotion, recommendation made include awareness should be created on stakeholders to use digital marketing as it is cheaper and cost effective, also hospitality and tourism destinations should provide website to make it easier for customers to access their services.
Keywords: Digital marketing, Trade fair, Internet marketing, Marketing performance, Digital technology
ADMINISTRATION AND ECONOMIC INVESTMENT: A REALISTIC FUTURE FOR ECONOMIC GROWTH
ISAAC TOYIN JOLAYEMI
Department of Social Sciences, Federal Polytechnic, Bida
This work decomposed the government capital expenditure to investigate the reality of a better future for Nigeria via administration and economic services as capital expenditures based on the WDI data from 1981 to 2021. Evidence of statistical significance of cointegration by Johanson Cointegration led to the use of VECM by accepting GDP as the regress and on ADMIN and ECONS as the regressor. Indications of the findings after acceptable pre-post tests analysis include, a unit change in the ADMIN caused an 8.6% increase in GDP in the short run while the previous years’ deviation from the long-run equilibrium is been corrected at a speed of 6.7% in the current year. The ADMIN and ECONS variables statistically possess an asymmetric relationship on GDP, in the long run as a percentage change in admin will cause an increase of 175% and that unit increase in economics will result in a decrease of 80% in GDP respectively. Close all loopholes that drains national wealth is essential but better economic investments that will meaningfully advance this nation is a matter of necessity as a policy suggestion.
Keywords: Investing, Economy, Future-hope
STAKEHOLDER THEORY AND ITS IMPERATIVES IN BANKS’ CORPORATE GOVERNANCE
EZEOCHA, CHUKWUEMEKA MAURICE
Department of Banking and Finance, Federal Polytechnic, PMB 1012, Kaura Namoda, Zamfara State, Nigeria
Corporate governance is a crucial issue for the management of banks, and has recently been given a great deal of attention in various national and international fora. This paper therefore undertakes a critical review of the stakeholder theory of corporate governance and the imperatives of its application in the banking sector, especially in developing economies like Nigeria. The paper adopts an explanatory research method with content analysis drawn from scholarly articles and various library materials. It is observed that the unique feature of the banking sector demands extensive attention on the quality of corporate governance systems that promotes the interest of the stakeholders and as such, the stakeholders or various constituencies of a bank cannot be ignored in the management of a bank due to the various roles they play, as well as their impact on the activities of the bank. To this effect, the stakeholder theory ranks prominently in banks’ corporate governance practice because it considers the interest of various banks’ stakeholders, thereby promoting the overall corporate efficiency of banks. The paper therefore recommends that banks should be acquainted with the various expectations of stakeholders and their rights as established by law. Banks should also engage in active co-operation with their stakeholders in creation of wealth, jobs and a financially sound enterprise, as this helps to provide answers to the important issue of priorities in relationships among stakeholders as well as how to manage these relationships.
Keywords: Banks, Corporate Governance, Stakeholder Theory.
ASSESSING MARKETING OPPORTUNITIES AMONG SMALL BUSINESS ENTERPRISES IN YOLA METROPOLIS
HADIZA DAUDA, PhD
Adamawa State Polytechnic, Yola
Marketing opportunities refer to potential areas or gaps in the market that businesses can leverage to achieve growth, expand their customer base, and gain a competitive advantage. There are many small private business enterprises in Yola striving to survive in the face of prevailing harsh economic conditions. A comprehensive evaluation of marketing opportunities can uncover potentials that will help small business enterprises to overcome threats and take advantage of opportunities. The aim of this paper is to assess the potential for marketing among small business enterprises in Yola Metropolis. To achieve this, a literature review was conducted to identify the general challenges and opportunities experienced by small business enterprises in Yola Metropolis. Data was collected through semi-structured interviews with small business owners, focus groups, and questionnaires from other business owners in Yola Metropolis. A content analysis of existing documents used to collect data reveals the current state of marketing in Yola Metropolis. The study results indicate that the small business environment in Yola Metropolis has significant potential for marketing, but that there are a number of challenges that need to be addressed. The challenges identified include access to finance, lack of technical skills, and lack of access to markets. On the other hand, opportunities include the use of digital technologies, increase in demand for products from small businesses, and the potential to access a larger market through interstate merchandising. To maximize the potential of small business marketing in Yola Metropolis, various policy interventions, civic initiatives, and collaborations are proposed. This research contributes to the body of knowledge on marketing strategies for small businesses in Yola Metropolis and can be used as a reference guide to inform other small business initiatives in the region.
KEYWORDS: Marketing, Opportunities, Small business enterprises, Growth
EFFECT OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRSS) ADOPTION AND ORGANIZATIONAL MOBILITY OF PROFESSIONAL ACCOUNTANTS IN NIGERIA
MICAH LAKORI NJENGO; BINTA WABIDA; & ONYEKA PASCAL JUSTICE
Department of Accountancy, Federal Polytechnic Kaltungo, Gombe State, Nigeria.
This study focused on the connection between the adoption of International Financial Reporting Standards (IFRSs) and organizational mobility of professional accountants in Nigeria. It set out to trace also the benefit and challenges of IFRSs adoption. The data for the study were from administered questionnaires which passed through the Cronbach’s alpha test for reliability. The data were subjected to a regression analysis using SPSS version 22.0 and the Pearson’s product moment correlation coefficient analysis was used to establish the relationship between the variables under study. Results shows that knowledge and adoption of the IFRSs has an effect on the the rate of job change by professional Accountants. Thus, implementing IFRSs which is sustainable to an organization enhances movement of the employees within and outside the organization. Its therefore, recommends qualification and efficient implementation of IFRSs, education and training of professionals by the accountancy institutes and improvement on the incentive scheme by organization.
KEYWORDS: IFRSs, Organizational mobility, Professional Accountants, Employment Requirements.
IMPACT OF FOREIGN CAPITAL FLOWS ON CAPITAL MARKET GROWTH IN NIGERIA (1990-2022)
*YERIMA ISHAYA JABIL; & **AYUBA PHILEMON DANAN
*Department of General Studies, Federal Polytechnic Kaltungo, Gombe State. **Department of Actuarial Science, Faculty of Management Sciences, University of Lagos.
The paper examines the impact of foreign capital flows on capital market growth in Nigeria. Ordinary least square regression analysis was employed in the study. The Augmented Dickey-Fuller unit root test reveals that all the variables became stationary after first difference, while the Johansen cointegration test result revealed that a long run relationship exists between the variables. Findings from the regression estimates show that foreign portfolio investment, real exchange rate and degree of openness all have positive and statistically significant impact on Nigeria’s capital market growth in the long run. A 1 percent increase in FPI, EXCR and DOP improves Nigeria’s capital market growth by 0.003, 12 and 5.9 percent respectively. Foreign direct investment as a positive but statistically insignificant impact on Nigeria’s capital market growth in the long run. The granger causality test reveals a unidirectional relationship between all the variables except for FPI and FDI that have a bi-directional relationship. The study thus concludes that foreign capital flows have along run positive impact on capital market growth in Nigeria. It is recommended among others that trade be further liberalised in order to allow free flow of foreign capital and that expansion of the capital market is necessary to attract more foreign capital.
Keywords: Foreign capital flows, capital market, economic growth, and foreign direct investment.
RELATIONSHIP MARKETING AND ITS IMPACT ON CUSTOMER DRIVE AND RETENTION MOTIVE OF DEPOSIT MONEY BANKS IN NIGERIA
KOCE, HENRY DIKO
Department of Marketing, Federal Polytechnic, Bida Niger State.
The banking industry and other financial institutions are competing among themselves hence, the need to strategize on how to retain as many good customers as possible. The Deposit Money Banks (DMBs) studied in this work are Zenith Bank and First Bank operating in Bida Town. The study is intended to determine the extent to which relationship marketing can influence customer drive and retention motives in Deposit Money Banks. Related literature was reviewed. The study used descriptive research design and simple random sampling method. The population for the study is estimated at 18,500 out of which a sample of 392 was taken via Taro Yamane formula. Close-ended questionnaires were administered. Descriptive and T-test statistics were used to analyze the data. A major finding revealed that quality service, good communication and trust influence customer retention in deposit money banks. The study concludes among others that relationship marketing in customer retention drive is very vital for firms to move beyond service delivery and satisfy both their existing and new customers. It was therefore recommended that management of banks should always emphasis on qualitative service delivery and not just service delivery by all staff to customers in order to achieve their customer loyalty and retention objectives.
Keywords: Relationship Marketing; Impact; Customer Drive; Retention; Motive; Deposit; Money; Banks
EFFECT OF HUMAN RESOURCE PRACTICES AND INDUSTRIAL HARMONY ON EMPLOYEE PERFORMANCE OF FEDERAL POLYTECHNIC BAUCHI
1PROF. GARBA BALA BELLO, 2DR. MUKHTAR SHEHU ALIYU AND 3MBAKWE FRANCIS KENECHI
1&2Business Administration and Entrepreneurship, Faculty of Social and Management Sciences, Bayero University, Kano, 3Business Administration and Management, Federal Polytechnic, Bauchi.
The study examined the effect of human resource practices and industrial harmony on employee performance in the Federal Polytechnic, Bauchi. A descriptive survey research design with cross-section was adopted and data were collected through questionnaire by means of hand-delivery method. Sample size of 291 were drawn from the population of 1,238 respondents using Krejcie and Morgan table (1970). The population consist of all academic and non-academic staff of the institution. In addition, 174 questionnaires (60% of the sample size) were further distributed in 2023 due to low response from the first distribution. Data was collected in two waves independently from the respondents. First, 290 responses were collected in 2019 and the addition 116 were returned in 2023. The demographic data were added to the initial research model to examine its effect on employee performance. Path analysis was used to test the four hypotheses which was facilitated by SmartPLS 3. After controlling the effect of working experience, the result revealed a positive and significant effect of recruitment on employee performance. Secondly, result found a significant and positive effect of selection on employee performance among staff of Federal Polytechnic Bauchi, thirdly, the study did not reveal a significant effect of absence of strike on employee performance, finally, the study revealed a significant and positive effect of low grievance on employee performance. As such, the study concludes that human resource practices, that is, recruitment, selection; industrial harmony, that is, low grievance; were very relevant in influencing employee performance in the Federal Polytechnic, Bauchi. Based on the findings, the study recommends that Federal Polytechnic Bauchi should focus on building strong recruitment, selection procedures as that would improve their employee performance. The findings from this study have yielded fruitful results that would have implications for managerial decisions in the institution.
KEYWORDS: Human Resources practice, Harmony, Employee performance.
COVID-19 PANDEMIC AND FIRMS PERFORMANCE: EVIDENCE FROM SMALL AND MEDIUM SCALE ENTERPRISE OPERATING NORTH-EAST, NIGERIA
*ALI DANJUMA IBRAHIM; **SHEHU UMAR SA’ID; *KATERI ZAHRADDEEN AHMADU; & ***ABDULLAHI BALA ALHAJI
*Department of Business Education, Federal College of Education Yola **Department of Accountancy, Federal Polytechnic, Bauchi, Nigeria ***Department of Accounting, Umaru Ali Shinkafi Polytechnic, Sokoto Nigeria.
The purpose of this research is to examine the Effect of the covid-19 pandemic on the performance of small and medium-scale enterprises (SMEs) operating in Nigeria. This study is essentially the result of primary data where a survey research design adopted. Data were collected using questionnaires administered to 278 SMEs across the country. The data were analyzed using descriptive and regression analysis by means of SPSS. The result of the study reveals that the COVID-19 pandemic has negatively affected the performance of Nigerian small and medium-scale enterprises (SMEs). The study offers variables like lockdown, market closure, and restrictions of movement, as the major factors that affect the SME’s performance in Nigeria. The study will give intuition to the government, investors, and consultants in Nigeria and their international counterparts to develop advanced ways of trading in the event of pandemics. The study also has a scholarly contribution to the body of knowledge and existing literature. This paper is original and unique in its form and has value to Nigerian investors (SMEs). The article is also useful to all those who might cherish to admire its standing.
Keywords: Covid-19, Pandemic, SMEs, Nigerian Investors
EXAMINING THE EFFECT OF SOCIO-POLITICAL FACTORS ON SURVIVAL AND PERFORMANCE SMES: EVIDENCE FROM NIGERIA
*ALI DANJUMA IBRAHIM; *KATERI ZAHRADDEEN AHMADU; & **SHEHU UMAR SA’ID
*Department of Business Education, Federal College of Education Yola. **Department of Accountancy, Federal Polytechnic, Bauchi, Nigeria
Abundant studies in the context of Small and Medium Enterprises (SMEs) in Nigeria highlighted challenges hindering their optimum performance and growth compared to their counterparts in other developing countries. Challenges such as socio-political, socio-cultural, socio-economic, and technological were much mentioned in SMEs literatures. This paper is aimed at discussing socio-political factors affecting performance and survival of Nigeria SMEs. Specifically, the paper discussed the effect of Covid-19 control measures, such as total lockdown, local and international travelling bans, ban on social gathering etc. resulted in cut in supply chain, disrupt production and create decline in sales and revenue .While rising insecurity also causes the dead of many SMEs owners and destructions of many business in several parts of the country. Payment of ransom to bandits and spending on private security by SMEs has effect on cost of doing business. The paper recommended that government and all stakeholders should ensure full implementation of all policies made to improve performance and survival of Nigerian SMEs in the face of challenges of Covid-19 control measures; robust effort should be made to ensure normalcy is return to all areas affected by insecurity so that full-scale economic activities will be restored. Nigerian SMEs should take precautionary measures in the event of outbreak of any kind of disease or insecurity in future.
Keywords: Socio- Political Factors, SMEs, Covid-19, and Insecurity
INSURANCE INDUSTRY CONTRIBUTIONS TO THE SURVIVAL OF BOOK PUBLISHING BUSINESS IN LAGOS STATE, NIGERIA – AN EMPIRICAL ANALYSIS
ADESANYA ABEL SEGUN; & BAMGBOSE, OLALEKAN SADIQ
Department of Actuarial Science and Insurance, Lagos State University of Science and Technology (LASUSTECH).
The paper examined the relationship between the insurance services and survival of book publishing business in Lagos state, Nigeria. This study is motivated by the fact that book publishing enterprises, like every other business, connect with their surroundings at varying stages; this connection brings about contingencies that sometimes leads to adverse financial outlook; and whether insurance services can mitigate the adverse effect of the accidental events to bring about favourable financial outlook and firms’ survival is an issue this study seeks to investigate. Organized questionaries and the use of both descriptive and inferential statistical tools were used to collect and analyse the data. The study points out that insurance services meaningfully impact publishing business survival in Nigeria. The study concludes that owners of publishing business should consider the purchase of insurance services towards their business survival. The study recommended that government should create a more conducive environment for insurance business, to strive. It was also recommended that insurance companies should engage in environmental and customers’ friendly products.
Keywords: Small and Medium Scale Enterprises, Risk, Insurance Services, Publishing companies. Lagos State, Survival
NIGERIA’S FEMALE ENTREPRENEURS WITHIN FEMALE ENTREPRENEURSHIP’S MACROCOSM
Business Administration Department, School of Business and Entrepreneurship, SBE, American University of Nigeria, AUN, Yola, Adamawa State, Nigeria.
The paper examines the popularity of the female entrepreneurs and their importance in creating vitally required jobs right on demand in breaking the vicious cycle of poverty. It additionally identifies the challenges confronted by these lady entrepreneurs, by means of reviewing a number of literatures and gives some recommendation on overcoming these obstacles. Women these days have emerged as a key participant in financial improvement of the nations. Today, women have an important place in the economic development of the country. But social change is not over yet. Women entrepreneurs encounter problems not only in the process of establishing a business, but also in the process of sustaining a business. All over the world, they have become important players in promoting social and economic development. In the last few decades, women have made significant progress in the workforce. This change is a result of equality and equal pay policies; fair work; changing social norms for women in the workplace; and organizations seeking qualified women in management positions to create a positive image. In the last few decades, women have made significant progress in the workforce. This change is a result of equality and equal pay policies; fair work; changing social norms for women in the workplace; and organizations seeking qualified women in management positions to create a positive image. Many women are learning more and the idea that women should stay at home, take care of the children, cook, go to the market, look after the children and family is not in fashion. The number of women in business is increasing day by day. Women entrepreneurs face many challenges in the process of reaching their goals. Initially they face social problems, then they face financial problems. Commercial and intellectual barriers make it difficult for them to start a business. Problems arising from their own fears and their behavior in business decisions are another important factor in the uncertainty of female entrepreneurs. However, they have proven that they can’t just run a small business, they can be successful at running a bigger business. After all.
Keywords: Entrepreneurial Success, Female Entrepreneurship, Female Entrepreneurs, Challenges, MSME
TRAVEL AGENCIES RESPONSE TO INTERNET EVOLUTION IN ABUJA: AN ANALYSIS OF COMPETITIVE STRATEGIES: A CASE STUDY OF TRAVEL TIME AND TOURS SYNERGY LTD ABUJA
* FIMBER STEPHEN AGBU; & ** JANGNAP ABEL DAMARIS
*Department of Tourism Management Technology, School of Science and Technology, Isa Mustapha Agwai I Polytechnic, PMB 109, Lafia, Nasarawa State Nigeria. ** National Institution for Hospitality and Tourism, No. 6 Mike Ahkigbe Way Jabi Abuja Nigeria.
Innovation in internet advances have brought diverse challenges and opportunities for the travel agency sector. This study analyzed the implication of internet advances and the competitive strategies adopted by travel agencies in Abuja capital of Nigeria. It specifically evaluated the extent to which travel agencies have adopted and use internet developments, challenges and perceived benefits of the internet advances, the competitive strategies adopted to cope with the internet advances and the extent to which the Government of Nigeria policies in ICTs facilitate travel agencies’ to cope with internet innovations. The study focused on travel agencies which are registered by International Air Transport Association (IATA) in Abuja. However, Travel Times and Tours Synergy was the case study. The respondents were the management and staff of the study area. Data was collected by use of designed interview questions. Data was analyzed using descriptive analysis. The results of the study established that Travel Agencies in Abuja offer amalgamation of services and target diverse clientele as strategic approach are aware of multiplicity of ICT in existence and use internet distribution system in form of GDS, furthermore, their core reason for internet adoption relates to the critical source of information necessary for business transactions such as emailing, marketing their products, market research and reservation. More so, the internet advances adoption depends on the need, relevance and perceived internet benefits. Internet facilitates information processing, storage, accessibility of information, increased efficiency, wider coverage, cost effectiveness and networking. Also the main challenges travel agencies encounter included poor network, proximity, commission cap and cuts by service providers, accessibility, online booking, need to train staff in new ICT development, instability of government policy and high cost of coping with the internet. More so, the main strategies adopted are ethnical compliance, firm code of practice, abiding the rules and regulation and continuous training of staff. Furthermore, the internet adoption include: smile communication, Mitel, spectronet and Nitel. The research study recommends that the government of Nigeria through the appropriate ministry provide the necessary enabling environment through ICT capacity management, Nigeria government should address regulating reforms to reduce the ICT cost and develop standards and international frameworks for online services for internet use, the private sector specifically National Association of Nigeria Travel Agencies (NANTA) should explore ways to engage government and enhance information facilitation and travel agencies should forge a close relationship with the service providers as their core business partners.
Keywords: Internet Evolution, Competitive Strategies, Travel Agency, Innovations