Category Archives: International Journal of Management Studies, Business and Entrepreneurship Research Number 4, volume 3. 2019

CONTENTS

Economic Downturn: Policies Adopted By Construction Professionals in the Management of Construction Cost Escalation in Nigeria

I.M. Oyemogum, D.T. Dabwor& S. Aboh.………………………………………………. 1

The Impact of Training on Staff Performance in an Organization
Bello, B. S.;  Ahmed, Abdulkazeem;   Abdullahi, F. H.;   Ozimede, Elizabeth O.; &

 Saidu, A. B……………………………………………………………………………..………7

Nexus between Commercial Banks’ Loan to Manufacturing Sector and Economic Growth in Nigeria 1986 – 2018

Maria Abdullahi; Ladan Amina Shuni & Musa Abdullahi Sakanko………….…………16

Fourier Time Series Analysis of Nigeria Gross Domestic Product

Lekara-Bayo, Ifeoma Better & Etuk, Ette Harrison…………………..……………………28

Fiscal Policy and Unemployment: The Nigerian Conundrum

Christopher N. Ekong, Joel I. Okon, and Ubong E. Effiong…………………………..….44

A Study of the Factors Influencing Real Estate Investment Growth in Lagos, Nigeria

Olowofeso, Edamisan………………………………………………….……………………65

Macro Prudential Policy: A Comparison between the Us and Uk, and the Lesson for Nigeria

Samuel Dame & Philemon Mide…………………………………….……………………..78

Theoretical Arguments for and Against the Market Based Financial System

Philemon Mide………………………………………………………………………………86

THEORETICAL ARGUMENTS FOR AND AGAINST THE MARKET BASED FINANCIAL SYSTEM

Philemon Mide

Department of Accountancy,

Federal Polytechnic Bali, Taraba State

Email: midadino@yahoo.com

ABSTRACT

This study explores into some bodies of knowledge in order to establish a preference by rating the performances of bank-based and market-based financial system. A sample t-test using the credit ratio ability (in terms of GDP) to private sector of each financial system was conducted on a random sample. Holding the legal factor and the level of development of financial players constant, the result plus other bodies of evidences give a priority rating to the market-oriented over the bank-oriented financial system.

MACRO PRUDENTIAL POLICY: A COMPARISON BETWEEN THE US AND UK, AND THE LESSON FOR NIGERIA

Samuel Dame & Philemon Mide

Department of Accountancy,

Federal Polytechnic Bali, Taraba StateEmail:samuedame19@gmail.com & midadino@yahoo.com

ABSTRACT

Over the years the focal point of prudential policies has been on micro-issues. But the consequences financial crises made advances economies proactive on addressing inadequacies of existing prudential guidelines. In doing that, prudential guidelines are expanded to include macro-issues (Basel III), which focus on the macro-prudential regulation, ensure the resilience and stability of the financial system and lessen the overreliance on taxpayer money to salvage the banks during these periods. BASEL III requirements however, range from increased in capital adequacy and common equity ratios, deposit insurance, introduction of TLAC, Bail-in/living will, Buffers and countercyclical buffers among others. This paper made the comparison of UK and US prudential guideline with the view of drawing lessons for Nigeria.

Keywords:  Financial crisis,Macro prudential policy, financial stability, capital buffers 

A STUDY OF THE FACTORS INFLUENCING REAL ESTATE INVESTMENT GROWTH IN LAGOS, NIGERIA

Olowofeso, Edamisan

Department of Entrepreneurship, School of Management Technology

The Federal University of Technology, Akure, Nigeria

E-mail: eolowofeso@futa.edu.ng

ABSTRACT

Due to the immense contribution of real estate to economic development in Nigeria, This study investigates the factors influencing the real estate investment growth in Lagos, Nigeria. Primary data structured in 5- Likert scale were collected from real estate professionals practice in Lagos State. The data collected were analysed using SPSS 23.0 Fifteen variables were identified as factors that influence the growth of real estate practice, the variables were subjected to principal component analysis (PCA) with varimax rotation. Keiser-Meyer-Olkin’s (KMO) measure of sampling adequacy and Bartlett’s Test of Sphericity were employed to test the factorability of the data. The KMO obtained for the study was 0.734 and significant at the level of 0.000. Bartlett’s test showed an approximate Chi-Square of 1538.303 with 105 degrees of freedom that significant at p = 000. The cumulative percentage of the variance showed that the three factors account for about 67% of the total variance. The analysis shows that variables with the highest loading factors for each of the extracted constraint factors. For instance, innovation loads with 83.7% on factor 1; length of operation loads with 97.3% on factor 2; and education background of the respondents’ loads with 74.8% on factors 3 were the most significant factors that can influence the growth of real estate practice in the study area.

Keywords: Determinant, Real Estate Investment, Growth, Lagos, Nigeria

FOURIER TIME SERIES ANALYSIS OF NIGERIA GROSS DOMESTIC PRODUCT

Lekara-Bayo, Ifeoma Better & Etuk, Ette Harrison

Department of Mathematics

Rivers State University, Nkpolu-Oroworukwo, Port Harcourt 

ABSTRACT

The study Fourier time series analysis of Nigeria gross domestic product from 2005 to 2015 of quarterly data is an important part of modern time series analysis. The study employed Fourier periodic time series analysis and adequately model gross domestic product over time. The detailed background of Nigeria gross domestic product to date is highlighted in the study. The parameters of the model yield an adequate model for the study. A computational algorithm for the model estimation gives better understanding of the procedures for estimation. The descriptive property of the gross domestic product was obtained on the transformed data. The test of unit root was achieved by Augmented Dickey-Fuller of order 1, with ACF, PACF and Residuals plots. The test of significance of the general model was achieved and the P-P Plot indicates that the model fits the data. The research work provides an autoregressive model of order 2, Fourier series model, time series decomposition plot, component analysis, trend analysis plot for linear model of gross domestic product. The research work provides forecast values of five years from 2016 to 2020.

Keyword: Fourier time series analysis, Nigeria GDP, ACF, PACF

NEXUS BETWEEN COMMERCIAL BANKS’ LOAN TO MANUFACTURING SECTOR AND ECONOMIC GROWTH IN NIGERIA 1986 – 2018

Maria Abdullahi; **Ladan Amina Shuni & ***Musa Abdullahi Sakanko
*Department of Economics, Sokoto State University, Sokoto State, Nigeria
**Department of Economics, Shehu Shagari College of Education, Sokoto, Nigeria
***Department of Economics, University of Jos, Plateau State, Nigeria.
Email: mariaaabdul@yahoo.com; amina.shuni@hotmail.com; sakanko2015@gmail.com

ABSTRACT

The main aim of this study is to analyze the effect of commercial banks credit to manufacturing sector on economic growth in Nigeria during period 1986 to 2018, employed the ARDL bound testing technique. It
was found that commercial banks credit to manufacturing sector, economic growth, maximum lending rate and money supply have long-run relationship. Likewise, the short-run and long-run results revealed that
commercial banks credit to manufacturing sector within the study period has a positive and statistically significant effect on economic growth in Nigeria. However, money supply and maximum lending rate have inverse and statistically significant effect on economic growth. Thus, the study recommended that, the policymaker should devise strategies that will ease the process and cumbersome commercial banks’ credit to the private sector and also encourage commercial banks to increase their pool of credit to the manufacturing sector in Nigeria to aid more of their contribution to economic growth. It is also recommended that monetary policy committee should review the current monetary policy and the policymakers should also review the commercial bank’s interest charge on money lend to manufacturing sectors in order to ease the doing of business and increase their revenue to enhance their contributions to economic growth and
development. KEYWORDS: ARDL, Commercial banks loan, Economic growth, manufacturing sector JEL CLASSIFICATION: C32, G21, O40, L60

ECONOMIC DOWNTURN: POLICIES ADOPTED BY CONSTRUCTION PROFESSIONALS IN THE MANAGEMENT OF CONSTRUCTION COST ESCALATION IN NIGERIA

I.M. Oyemogum1 ; D.T. Dabwor2 & S. Aboh1
1Department of Building, University of Jos
2Department of Economics, University of Jos
Email: egooye@yahoo.co.uk

ABSTRACT

This study was carried out to identify management policies adopted by construction professionals in the management of construction cost escalation in economic downturn in Nigeria. A questionnaire survey was conducted and twenty-seven (27) factors were identified, categorized
into five (5) groups, evaluated and ranked according to respondents’ perspectives. Four hundred (400) questionnaires were distributed as follows: 35 to Surveyors, 79 to Builders, 85 to Civil engineers, Architects 122 and 79 to Contractors and their opinion about management policies
ranges from cost management, cost increment, cost control and cost regulation. The outcome of these analyses showed that all the respondents agreed that construction projects escalation in economic downturn should be manage through cost. However, the analysis indicated that the top
three (3) factors that have the highest ranked index affecting construction cost escalation in economic downturn are government policy and high inflationary trends as one, political interferences and contractor collusion with corporate extortion as two and fraudulent contract and procurement management practices as three. Based on these findings, this study recommended the need for direct government intervention on taxes, single interest rate for borrowing, stabilization of the exchange rate and innovations by construction professionals in pre-construction and construction phase.Keywords: Economic downturn, construction cost escalation, construction cost overruns, construction cost management.

THE IMPACT OF TRAINING ON STAFF PERFORMANCE IN AN ORGANIZATION

1Bello, B. S.; 2Ahmed, Abdulkazeem; 3Abdullahi, F. H.; 3Ozimede, Elizabeth O.; & 1Saidu, A. B. 1Department of Marketing, Federal Polytechnic, Bida
2Purchasing Unit, Federal Medical Center, Bida
3Department of Business Administration & Management, Federal Polytechnic, Bida

ABSTRACT

This paper is predicated on the impact of training on staff development in an organization. The problem that necessitated this paper among others are high labour turnover, damages to the organization through increased costs of recruitment and selection which delays product and or service delivery, low morale amongst employees and inability of management to recognize the type of training that will lead to staff productivity. The objective of this paper is to find out whether there is significant relationship between
training and staff development in an organization. The paper covers Power FM, Bida which has a total of 36 staff. Both primary and secondary data were used in this paper. The secondary data were sourced from
books and previous work similar to this while the primary data were obtained from structured oral interview of the employees of the establishment before drawing conclusion. In our findings, majority of the
respondents agreed that inability of management to provide adequate training resources to cater for its staff needs will hamper development of the staff thereby leading to high employee turnover in the organization.
Most of the staff of Power FM Bida also submitted that the management of Power FM Bida is not doing much to support the training of its staff. They also believe that adequate training of employees will lead to
high productivity on their jobs. As part of the writers’ recommendations, management of establishments especially Power FM Bida, should ensure that their employees are well trained to spur them to greater
performance and increased productivity. Keywords: Impact; Staff Training; Development; Organization