Category Archives: International Journal of Management Studies, Business and Entrepreneurship Research 2018

MICRO FINANCE AND SMALL BUSINESSES IN NIGERIA: A DESCRIPTIVE ANALYSIS

Bhola Khan

Department of Economics

Yobe State University, Damaturu

Email: bholakhan.apj@gmail.com

ABSTRACT

Microfinance bank is charged with responsibilities of empowering Small-Scale Businesses (SSBs) in grassroots as its greater challenges; among which at present is how the Microfinance Institutions (MFI) can reach a greater number of small-scale business entrepreneurs. The aim of this study to make a descriptive analysis of micro finance and its impact on Small-Scale Businesses in Damaturu. The study is based on primary data which has been collected from Damaturu Metropolis Area. The sample size of the study is 50. During the analysis of the data, 25% of the respondents’ rated sales volume as low before accessing microfinance loan, while only 10% rated it as poor after accessing microfinance loan. The result also shows that the only 15% agreed that their sales volume was high before accessing, while 42.5% and 30% rated sales volume to average and high respectively. The study also revealed that the rate of returns on investment as poor by 15%, as average by 30% as low by 50% and high by 5%, while the rating changed after accessing Microfinance loan by 32.5% rating it to high as against 5%before and 10% as poor against 15%.

Keywords: Microfinance, Small-Scale Businesses, Multiplier, Gross Domestic Product.

BRAND ASSOCIATION AND CONSUMER PATRONAGE OF MALT DRINKS IN ANAMBRA STATE OF NIGERIA

¹Anetoh, John Chidume & ²Moguluwa, Shedrack Chinweuba

¹Department of Marketing, Chukwuemeka Odumegwu Ojukwu University, Anambra State

²Department of Marketing, University of Nigeria, Enugu Campus, Enugu State, Nigeria         

E-mail: anetohjohn@yahoo.com, shedrack.moguluwa@unn.edu.ng

Corresponding author: Anetoh, John Chidume

ABSTRACT                                                                            

This study investigated the influence of brand association functions on consumer patronage of selected malt drinks in Anambra State of Nigeria. The specific objectives of the study were to: determine the influence of status function on consumer patronage of selected malt drinks in Anambra State of Nigeria; evaluate the influence of guarantee function on consumer patronage; investigate the influence of personal identification function on consumer patronage; ascertain the influence of social identification function on consumer patronage; assess the extent status, guarantee, personal and social identification functions jointly predict consumer patronage of malt drinks; determine the influence of interaction of stand-alone variables (status, guarantee, personal and social identification functions) on consumer patronage of malt drinks. The undergraduate students of Nnamdi Azikiwe University, Awka and Chukwuemeka Odumegwu Ojukwu University, Uli formed the unit of analysis. The study utilized 357 usable copies of the questionnaire for analysis. Cross-sectional survey method was used while the data source for analysis was primary. Data generated were analyzed while the formulated hypotheses were tested using multiple regression analysis. The result revealed that the status and guarantee functions as well as the interaction of stand-alone variables have strong positive significant influences on consumer patronage of malt drinks in Anambra State of Nigeria while personal identification and social identification functions of brand association have less significant influence on consumer patronage of malt drinks in Anambra State of Nigeria. The result also revealed that status, guarantee, personal and social identification functions are jointly significant contributors to prediction of consumer patronage of malt drinks. The major finding is that the guarantee and status functions of brand association as well as the overall result of interaction of stand-alone variables have significantly and positively influenced consumer patronage of malt drinks in Anambra State of Nigeria. It was also discovered that among all the brand association functions, guarantee and status functions are major determinants of consumer patronage while others seem to have played minor role in terms of influencing consumer patronage. Based on the findings, the study recommends the formulation and operationalization of consumer-oriented strategies geared toward improving on personal and social identification functions of brand association for enhanced and sustainable consumer satisfaction & patronage toward the purchase and consumption of malt drinks in Anambra State of Nigeria and beyond.

Key words:Brand Association Functions, Consumers’ Patronage, Malt Drinks, Nigeria.

FIRM SIZE, BOOK-TO-MARKET EQUITY AND THE STOCK RETURNS: ANALYSIS OF NIGERIAN STOCK MARKET

¹Agbam, Azubuike Samuel,  ¹Anyamaobi, Chukwuemeka & ²Udo, Ephraim Okon

¹Department of Banking and Finance

¹Department of Mathematics/Statistics and Computer Science

²Rivers State University, Nkpolu-Oroworukwo, Port Harcourt, Nigeria

Email: azubuikesamuelagbam@yahoo.com, ephraimokon@rocketmail

Corresponding author: Agbam, Azubuike Samuel

ABSTRACT

Although the Capital Asset Pricing Model (CAPM) has been one of the most useful and frequently used theories in determining the required rate of return of a security, the application of this model has been controversial since early 1960s. The CAPM was introduced by Jack Treynor, William Sharpe, John Lintner and Jan Mossin independently, building on the earlier work of Harry Markowitz on diversification and Modern Portfolio theory.  This study employs Fama and French (1993) multifactor model to investigate the significance of firm size and book-to-market ratio in explaining variations in returns of stocks listed on the Nigerian equity market using monthly stock data of 59 randomly selected Nigerian stocks from 2012 to 2015 collected from the Nigerian Stock Exchange. The empirical results of the classical Ordinary Least Square (OLS) regression analysis of the test of the multifactor model found that value effects are not priced but size effects are significantly priced. To the contrary, robust OLS confirms both size and value effects, suggesting that investors are rewarded for taking both size and value risk. Keyword:CAPM, firm size, book-to-market equity, stock market, Nigeria

THE PLACE OF EFFECTIVE BOOKKEEPING AND ACCOUNTING PRACTICE IN SMALL AND MEDIUM SCALE ENTERPRISES (SMES) IN NIGERIA: EVIDENCE FROM SOME SELECTED SMES IN ZAMFARA STATE

Bamidele Vincent Olawale^1, Ayibiowu Stephen Idowu¹, Onumoh Ahmed Yahaya² & Attahiru Yahaya³

Department of Accounting Education^{1, 2} & Department of Economics Education³

Federal College of Education (Technical), Gusau

Email: vincentolawale83@gmail.com

Corresponding author: Bamidele Vincent Olawale

ABSTRACT

This study examined the impact of effective book keeping practice and accounting system in the operation of small and medium scale enterprises in Nigeria. Research hypotheses were formulated according to the objective of this study. 286 Small and medium business owners and 214 staff from five recognized local government areas in Zamfara state, North Western Nigeria were selected as our respondents via a stratified random sampling technique. Data were collected via a well structured questionnaire. Best linear unbiased estimator (BLUE) was used to analyze the data, hypotheses were tested using t-test and all the hypotheses were retained. The findings of this study revealed that book keeping and accounting plays a significant role in the success of small and medium scale enterprises. The study also affirms that standard accounting practices contribute immensely to the success of small and medium scale enterprises. The study recommends among others that Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) should provide an atmosphere that will facilitate good adoption of effective bookkeeping and accounting practice in small and medium scale enterprises (SMEs) in Nigeria.

Keywords: Accounting Practice, Bookkeeping, Medium Scale, Small Scale

DISSECTING THE LABYRINTH OF GLOCALIZATION AND GOVERNMENT PREPAREDNESS: A GLANCE AT THE PROPOSED CAR ASSEMBLY PLANT AT ITU, AKWA IBOM STATE

Michael Effiom & Inemesit Ebito

Department of Business Management

University of Uyo, PMB 1017 Uyo, Akwa Ibom State

Email: mikefiom.power@yahoo.com

Corresponding author: Michael Effiom

ABSTRACT

The research plunged into dissecting the labyrinth of glocalization and government preparedness; a glance at the proposed automobile assembly plant at Itu LGA, Akwa Ibom state, Nigeria as the study area is viewed as an investment destination hopeful. The study reviewed a collection of library and other academic works as its main sources of resources. It was gleaned from the study that there were few infrastructural gaps that require immediate attention of government, such as weak communication systems and insufficiency in transportation systems that support heavy international partnership with the state. The study also revealed that without these infrastructural and other economic and policy issues being addressed, it would further exacerbate the existing number of moribund industries available. However, it was recommend that the national and states house of assembly should be keen to making decisions that would encourage sustainability of investments. Similarly, it was recommended that multiple taxation system in Nigeria should be generally discouraged, while government should rather invest more in the areas of security and electricity generation to ensure a commensurate return on investment (ROI) and sustainability of investments.

Keywords: Globalization, glocalization, government   preparedness, and investment.

STANDARD COSTING AND EFFICIENCY OF CEMENT BLOCK MANUFACTURING BUSINESS IN NIGERIA

¹Sani Alfred Ilemona & ²Nkwagu L. C.

¹Department of Accounting and Business Administration, Federal University, Kashere, Gombe State

²Department of Accountancy, Ebonyi State University, Abakaliki

Email: saniilemona@gmail.com

Corresponding author:  Sani Alfred Ilemona

ABSTRACT

The study examined literature and contextual review of Standard Costing (SC) as a tool that can impact positively on manufacturing efficiency of cement block making enterprise in Nigeria given the fact that block is a key material in a building construction project. The aim of the study is to assess whether the standards laid down by the regulatory authority/agency – Standard Organisation of Nigeria (SON) for producers of this material have been adhered to and also to state the benefits of setting a pre-determined Standard cost (SC) for the required standard expected of a quality block (material) used in building construction. The findings from various studies suggest that there is wide non-adherence to the standards set for production of quality cement blocks for users. It was also discovered that poor quality blocks (material) is one of the key factors responsible for building cracks and rampant cases of their collapse in the entire country. The study recommended among others that registration of all cement block producers in Nigeria with SON should be made compulsory with a view to monitoring the quality of this important building material and any producer found wanting should be blacklisted.Keywords: Standard Costing – Efficiency – Cement blocks – Producers – Standards – Adherence

CULTURAL TOURISM AND INFRASTRUCTURAL DEVELOPMENT IN YENAGOA

 Helen Y. Ollor¹ & Igiagia Doreen Giobaro¹

¹Department of Hospitality Management and Tourism

University of Port Harcourt, Rivers State

E-Mail:  hyollor@yahoo.com

Corresponding author: Helen Y. Ollor

ABSTRACT

This study clearly concerns Cultural Tourism and Infrastructural Development in Yenagoa, Bayelsa State. The study looks at the relationship between the dimensions of the independent variables which are Good Road Network, Water Ways and Electricity and how they affect the measures of the dependent variables which are Heritage Tourism, Events and Festivals. The study adopted the judgmental sampling technique in determining the population and Taro-yemen’s formula adopted for the sampling size and technique. However, the data was obtained through the administration of Questionnaire. A total of one hundred and thirty three (133) copies of the questionnaire were distributed to two communities, out of which one hundred and twenty five (125) were returned. The data were analyzed using the Spearman’s Rank Order Correlation Coefficient (rho). It was observed that there were relationships between the dimensions and measures of the study. From the findings, it was recommended that Tourism stakeholders, government and private tourist enterprises should ensure that infrastructure such as water, electricity, good road network, good communication network be provided to foster Cultural Tourism in Yenagoa, Bayelsa State.      

Key Words: Culture, Tourism, Infrastructure, Development, Water ways,  Electricity, Roads, Festivals, Heritage

MANAGING HUMAN RESOURCE SEPARATION FOR OPTIMAL PERFORMANCE IN THE FOOD, BEVERAGE AND TOBACCO INDUSTRY IN LAGOS STATE

Chidi, Odogwu Christopher

Department of Employment Relations and Human Resource Management

Faculty of Management Sciences

University of Lagos, Nigeria

E-mail: krischidi2002@yahoo.com, ochidi@unilag.edu.ng

ABSTRACT

The objective of this study is to investigate the linkage between human resource separation and performance of the Food, Beverage, and Tobacco industry in Lagos State. The survey research design was adopted for the study. A total of four hundred and twenty (420) research participants were drawn from fourteen respondent companies. However, 284 copies of questionnaire were properly completed and used for data analyses. This represents 68 per cent response rate. Validity estimate of the research instrument is 0.88 while the Cronbach’s Alpha yielded a reliability coefficient of 0.77. It was hypothesised that human resource separation does not affect performance of organisations in the industry. The hypothesis was tested using the Pearson Product Moment Correlation and the Multiple Regression Model at 5 per cent level of significance. The result of hypothesis test shows that human resource separation exhibited significant effect on performance of organisations. It is recommended that organisations should aim at improving remuneration packages; there is empirical evidence to show that on average, employers who offer the most attractive reward packages have lower separation rates than those who pay poorly. Organisations should adopt rigorous screening procedures for new hires; improve training programmes as well as flexible working hours and employee participation to foster human resource retention and optimal organisational performance in the industry.

Keywords: Human Resource Separation, Performance, Food, Beverage and Tobacco Industry.

SIZE – PERFORMANCE NEXUS IN THE NIGERIAN BANKING INDUSTRY: A CAUSAL ANALYSIS

Kayode, Peter Akinyemi & Adaramola, Anthony Olugbenga

Department of Finance

Ekiti State University, Ado-Ekiti, Nigeria

Email: akinyemipeter252@gmail.com

ABSTRACT

This study examined the relationship between bank size and the performance of some selected commercial banks in Nigeria. The study examined the causal effects that exist between size and the performance of these banks using four major bank size variables. The study employed panel data econometric techniques to examine the significance of various size variables on bank performance in Nigeria. The techniques employed include pooled OLS regression, fixed and random effects models as well as Hausman test to examine the effects of four size variables (total assets, deposit volume, number of employees and branch network) on banks’ profitability (profit after tax) in Nigeria. The study further employed the use of Granger causality test to examine if there exist any causal relationship among the variables studied and the direction(s) of such effect/ relationship. The results of the analysis reveal that while total assets and banks’ profitability Granger cause each other, deposit volume Granger causes banks’ profitability whereas, neither branch network nor number of employees Granger causes banks’ profitability in that there exists no directional causality among them. The study recommends that bank managers be more pragmatic in their size management efforts such that size variables exert positive and significant impact on bank performance and a need for more cost effective human resource practices by banks.

Key words: Bank size, Bank Performance, Granger causality, Optimal Bank Size

EFFECT OF DIRECTOR’S TUNNELLING ON FIRM PERFORMANCE OF QUOTED COMPANIES IN NIGERIA

*Nnubia, Innocent Chukwuebuka & Fabian C. Obiora

Department of Accountancy

Chukwuemeka Odumegwu Ojukwu University, Anambra State

Email: nnubiae@yahoo.com, oniiudochiobiora@gmail.com

*Corresponding author

ABSTRACT

The study investigates the effect of director’s tunnelling on firm performance of quoted companies in Nigeria. A sample of 15 Nigerian consumer goods firms listed on Nigerian Stock Exchange for a period of 8 years (from 2010-2017) was selected. The main type of data used in this study is secondary; sourced from the Nigerian stock exchange fact book. This study applied ex post facto research design. The data collected were analyzed using Ordinary Least Square Method. The results show that for the Nigerian listed consumer goods firms, the explanatory variables- Chairman’s pay and Director’s equity holding has negative significant effect on the dependent variable – asset utilization (Performance); whereas Board of director’s pay is positive and has no significant impact on the asset utilization (Performance). The study, therefore recommends among others that the chairman and other board member pay should not be fix by the CEO rather it should be fixed by the entire shareholder during the annual general meeting to reduce the influence of the CEO and the give and take politics of the board.

Key words: director’s tunnelling, firm performance, asset utilization, Nigeria.