Category Archives: 2018 Journals

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.

ROLE OF BANKS IN GROWING SMES IN NIGERIA

Joseph M. Ibbih & Alaku David Stephen

Department of Economics, Nasarawa State University, Keffi, Nasarawa State

Department of Economics, Federal University Lafia, Nasarawa State

Email:  jmibbih@gmail.com

ABSTRACT

The research study investigates the role of banks in growing SMEs in Nigeria. The purpose of this study is to know how SMEs can grow through the intervention of the formal sector financing. The hypothesis of the study is to know if there is a relationship between financial loan disbursement to SMEs and the SMEG in Nigeria. Quantitative research design was adopted and the population of the study is the entire SMEs and the banks in Nasarawa State. Questionnaires, telephone interviews and emails were used as primary instrument for data collection. Cluster and judgmental sampling technique was used in selecting sample. Journals, annual reports, NBS reports, CBN reports and SMEDAN reports were used as secondary instrument for data collection. 90 questionnaires were administered but 80 were returned, 10 questionnaires could not be recovered. Tables and sample percentage were used in primary data presentation. Regression analysis was employed in testing the results obtained in both primary and secondary instruments. Two hypotheses were formulated to know if there is correlation between them.  The finding reveals that there is a positive correlation between formal financial loan disbursement to SMEs and SMEG. The multicolinearity test shown there is no multicollinearity existing between financial loan duration and SMEG and also there is no heteroskedasticity in the variables. The jarque – Bera test shown there is an error term in the normal distribution of financial loan disbursement. The findings from the analysis made shown there is a positive relationship between the financial loan disbursement and SMEs growth, a positive relationship between loan duration and SMEs growth. Also there is a negative relationship between interest rate and SMEs growth, and finally a negative relationship between collateral security and SME growth. Based on the findings, it was recommended that; the apex bank should mandate banks on the amount to be issued out as loans to SMEs, there is need to apply a monetary policy measure to control interest rate to one digit to favour the SMEs operation, the collateral security should be reduce to single digit percentage to enhance investment and finally banks should endeavour to increase their loans duration to ten years and above to encourage investment. The financial institution needs to put in more effort in financing SMEs, as their role need to be felt by the SMEs in terms of growth and development.

Keywords: banks, financial loan disbursement, interest rate, loan, enterprises, SMEs, SMEG, economic growth, loan duration.

THE IMPORTANCE OF NETWORK SYSTEMS IN OSUN STATE, (A CASE STUDY OF 4,800 BUSINESS CENTRE, IN DIFFERENT LOCATIONS, OF NIGERIA)

Prince Awojoodu Soji

Department of Computer Science and Mathematics

Oduduwa University, Ipetumodu, P.M.B. 5533, Ile – Ife, Osun State, Nigeria

Email:  awojoodusoji@yahoo.com

ABSTRACT

This research work was carried out, to know the importance of Network Systems in Osun State.  4 Local governments, namely: (Ife East, Ife South, Ife Central and Ife North), local government areas were sampled.   4,800 open questionnaires were distributed to the 4 Local Governments, out of which 1,200 was used in each local government. A total of 48 different locations were visited and sampled in all the four Local Governments, out of which 100 questionnaires were used in each location.  It was gathered that above 75% of the people supported, that  network systems was important in Osun State, while less than 25% of the people could not even understand whether network systems was important or not.   The results from the questionnaires when using Pearson one-tailed correlation coefficient, however revealed that there was no significant difference from all the business centre visited and sampled, (p < 0.01) table 5.  This shows a strong positive correlation,  which implying that, computer network systems is strongly influenced and enhanced people’s support,  from the four local government areas of Osun State Nigeria, and therefore had made the research work to become a reality, (p < 0.01) table  5.  The reasons may be due to the fact that in public domain, computer network systems was not only  aiding  the sharing of information between libraries, government officers, police department, hospitals, practitioners  and institution etc; but, it enabled an ease flowing and or the sharing of information and communication processes. Which enabled a combination of one-to-one, one-to-many, many-to-one, many-to-many communications, to established over the global networks.   Histogram with curve was used to depict the summary data of each of the local government areas sampled in Ile – Ife of Osun State, Nigeria.

IMPACT OF EMPLOYEE COMMITMENT ON ORGANIZATIONAL PERFORMANCE (A CASE STUDY OF SELECTED FAST FOOD IN UMUAHIA)

Ayogu, Deborah Uche

Department of Business Administration

College of Management Sciences

Michael Okpara University of Agriculture, Umudike, Abia State

Email: agbomelletus@yahoo.com

ABSTRACT

This study examined the impact of employee commitment on organizational performance of selected fast food in Umuahia. The researcher adopted the survey research design which suits the research due its descriptive nature. Both primary and secondary source of data were utilized in gathering the information relevant for this work. A total number of eighty-eight (88) questionnaire were issued out by the researcher to the staff of selected fast foods in Umuahia. Test-Retest reliability was used and computed through Statistical Package for Social Science (SPSS) version 20.0. This research work made use of descriptive statistics and inferential statistics, descriptive statistics used included table, frequency, percentages, mean, etc. while the inferential statistics that was used was simple regression . The result of the regression analysis. The coefficient of employee commitments was positive and significant at 1%. The p-values of employee commitments was 0.0064 and 0.0000 was less than the t-statistic value of 2.799 and 9.084 and  the standard error value of 0.0785 and 0.0782 was less than the t-statistic value respectively. The adjusted R² 0.67 or 67% which revealed that the variables in the equation jointly explained 67% of the variations in the equation while the remaining 33% is explained by other variables not included in the equation.  In other words, the R-square value of 67% expresses the percentage effect of employee commitment on the organizational profitability therefore rejected the null hypothesis because there was a significant effect on employee commitment on organizational profitability. The findings indicated that (i) there was a significant relationship between employee commitments and organizational profitability. This finding was sequel to the analysis done in table 3.4 were The p-values of managerial skills was 0.0064 and 0.0000 was less than the t-statistic value of 2.799 and 9.084 and  the standard error value of 0.0785 and 0.0782 was less than the t-statistic value respectively. The adjusted R² 0.67 or 67% which revealed that the variables in the equation jointly explained 67% of the variations in the equation. (ii) There was a significant relationship between employee commitments and organizational growth. This finding was sequel to the result of the above 3.10g analysis revealed that the calculated t-value of 20.995 was greater than the table value (-3.169), therefore, the null (H₀) hypothesis was rejected, while the alternatives hypothesis (H₁) accepted. There was a significant relationship between employee commitments and organizational growth.

Keyword: Employees’ Commitment, Organizational Effectiveness, Sustained Productivity.

LEADERSHIP STYLE AND GOVERNANCE OUTCOMES IN NIGERIA; AN APPRAISAL

*Edward Kuruku & Helen Chinelo Ogwuche

Department of Psychology

Benue State University, Makurdi, Nigeria

Email: edwwardkuruku@gmail.com

Corresponding author*

ABSTRACT

Leadership is the most essential and vital component of every organisation and the society at large. No organisation or government succeeds, without a good leadership style. Most organizations and indeed governments have collapsed, over the years due to poor leadership style. The objective of this paper is to critically appraise the concept of leadership and its styles in Nigerian industrial organizations and the larger Nigerian society. This is with a view to identifying the best leadership style that would solve the mirage of leadership crises bedeviling the country both at organizational level and the government at large. The paper reflects on the different leadership styles like democratic, autocratic and laisser-faire, in relation to performance and productivity in governance and organizational effectiveness, for sustainable national development. The paper argues that democratic style of leadership remains the best and viable leadership style that would drive the economy of the Nigerian State. The country has suffered leadership crises arising from poor leadership style, corruption among others which have affected all sectors of the Nigerian economy and sustainable national development. These leadership crises could be seen in the various constitutional amendments and changes of government, from 1966-1999 when democratic governance resonated with president Obasanjo’s Presidency. Having critically appraised the leadership question in Nigeria holistically, the paper recommends among other measures, a re-orientation and attitude change towards public service for improved performance and productivity.

Keywords: Leadership, Leadership style, Democratic, Autocratic, Liaises faire, governance, performance.

A SURVEY OF SHAREHOLDERS’ INTEREST, UNDERSTANDING AND USAGE OF THE CORPORATE ANNUAL REPORT IN THE POST-IFRS NIGERIA

Otusanya Olatunde Julius¹, Anani Sunday Koukoudjoe², Fakile Oluwaseye Grace³

^1,2Department of Accounting, University of Lagos, Lagos, Nigeria

³Department of Accounting, University of Ilorin, Ilorin, Nigeria

Email: fakile.og@unilorin.edu.ng

Corresponding author: Fakile Oluwaseye Grace

ABSTRACT

The study was carried out to determine if the adoption of the international accounting standard which is considered to be a major change in the financial reporting environment has made shareholders of companies to show more interest in reading, having proper understanding of, and using the corporate annual reports in the IFRS era. A survey research design was adopted and with the aid of a questionnaire, data was gathered from one hundred and ten shareholders of companies. Levene’s test was used to test the formulated hypotheses. It was concluded that shareholders understand the report except the Notes to the accounts and the Statement of Changes in Equity which a high percentage of shareholders find difficult to understand. The study recommended that the corporate annual report should be made more understandable to users who are without specialist knowledge of accounting standards used in preparing and explaining the financial statements in the corporate annual reports of companies

Keyword: Shareholders’ interest, annual report, Post-IFRS