{"title":"Analysis of ownership structure in Nigeria quoted companies and its correlation with corporate performance","authors":"Olayinka Adenikinju, F. Ayonrinde, A. Adenikinju","doi":"10.4314/AJEP.V10I2.24264","DOIUrl":"https://doi.org/10.4314/AJEP.V10I2.24264","url":null,"abstract":"This study investigates the ownership structure of the corporate sector of the Nigerian economy and its correlation with corporate performance over the period 1995 to 1998. Panel data analysis was conducted for the 73 companies that met the necessary criteria. The companies were taken from companies quoted on the Nigerian Stock Exchange (NSE). The study yields a number of insights into the ownership structure of the Nigerian corporate sector. First, the vast majority of Nigerians individual investors are small shareholders and few are in the list of the ten top largest shareholders. Second on the average, ownership structure is highly concentrated in Nigeria. Third, there is mixed and weak correlation between ownership structure and corporate performance in Nigeria. African Journal of Economic Policy Vol. 10(2) 2003: 57-80","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"28 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126560291","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"An econometrics analysis of firms' compliance costs of sanitary and phytosanitary standards (SPS) in Nigeria's export markets: the case of processed agricultural and food products","authors":"A. Bankole","doi":"10.4314/AJEP.V10I2.24266","DOIUrl":"https://doi.org/10.4314/AJEP.V10I2.24266","url":null,"abstract":"The prospective adverse effects of SPS measures made their quantitative evaluation, which has been hitherto scanty, inevitable. In effect, this paper focused on the quantitative determination of cost-raising effect of SPS measures on the exports of processed agricultural and food products of Nigeria through the estimation of firms' variable cost function in an attempt to provide evidence of the cost of compliance to export market standards. Employing primary data, it was found that the imposition of SPS measures in export markets produced significant variable costs of compliance. The study also observed that SPS measures were likely to be imposed for trade restrictive purposes in Nigeria's export markets, while attempts to meet these standards by Nigerian producers and exporters may not result in increased exports, because of the protective intent of the standards' imposing countries. African Journal of Economic Policy Vol. 10(2) 2003: 103-136","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127604617","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Determinants of technical efficiency in traditional agricultural production: application of stochastic frontier modelling to food crop farmers in South-Western Nigeria","authors":"I. Ajibefun","doi":"10.4314/AJEP.V10I2.24263","DOIUrl":"https://doi.org/10.4314/AJEP.V10I2.24263","url":null,"abstract":"The major objective of this study was to analyse the determinants of technical efficiency of food crop farmers in the Southwestern part of Nigeria. The data were based on 461 small scale farmers who cultivated cassava, maize, rice and multiple crops selected from Southwestern states of Nigeria. Results of analysis indicated that technical efficiency of the farmers varied widely across farms and across states. The results indicate that level of education, year of farming experience, extension visit, fertilizer use, land ownership, as well as membership of farmers' cooperative societies positively and significantly influenced the level of technical efficiency of the farmers. African Journal of Economic Policy Vol. 10(2) 2003: 31-56","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"39 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115871859","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Comparative analysis of technical efficiency between traditional and improved rice variety farmers in Nigeria","authors":"F. Ogundele, V. Okoruwa","doi":"10.4314/AJEP.V11I1.24261","DOIUrl":"https://doi.org/10.4314/AJEP.V11I1.24261","url":null,"abstract":"This study examined technical efficiency differentials between farmers planning traditional rice varieties and those planning improved varieties in Nigeria. The study employed a multistage random sampling procedure for the selection of 302 respondents across four major rice producing states in the country. The main analytical technique used was estimation of technical efficiency following Maximum Likelihood Estimation (MLE) Procedure available in Frontier 4.1. Results that emanated from these analyses showed that significant increase recorded in output of rice in the country could be traced mainly to area expansion. Other variables that tended to contribute to technical efficiency were; hired labour, herbicides and seeds. The estimated average technical efficiencies for the two groups were correspondingly high (>0.90). Further analysis showed that farmers in both categories were operating at a point of increasing return to scale. The test of hypothesis on the differentials in technical efficiency between the two groups of farmers showed that there was no absolute differential in technical efficiency between them. African Journal of Economic Policy Vol. 11(1) 2004: 91-108","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"4 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128649765","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Technical efficiency in some privatised enterprises in Nigeria","authors":"Afeikhena Jerome","doi":"10.4314/AJEP.V11I1.24258","DOIUrl":"https://doi.org/10.4314/AJEP.V11I1.24258","url":null,"abstract":"Despite the upsurge in research on privatization in recent years, the empirical knowledge of the privatization programme in African is limited. Aside from theoretical predictions, not much is known about the process and outcome of privatization exercises in Africa. This study evaluates technical efficiency in four privatized enterprises in Nigeria. The methodology adopted is Data Envelopment Analysis (DEA). The technical efficiency scores are presented both for the Constant Returns to Scale (CRS) and Variable Returns to Scale (VRS) DEA. Relative efficiency was found to be considerably higher in the past privatization period in both the CRS and VRS specifications. These results indicate a substantial improvement in technical efficiency as a result of privatization. African Journal of Economic Policy Vol. 11(1) 2004: 17-34","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"390 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116648787","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The decomposition of income inequality by sources of income: the rural Nigerian experience","authors":"T. Awoyemi, Adetola Ibidunni Adeoti","doi":"10.4314/AJEP.V11I1.24257","DOIUrl":"https://doi.org/10.4314/AJEP.V11I1.24257","url":null,"abstract":"The study examines income inequality by sources of income in Nigeria. A standard Gini decomposition method was applied on a nationally representative data to examine the differential impact of various types of income sources - including non-farm income - on inequality in rural Nigeria. The results revealed that agriculture accounts for the largest share of the total inequality, followed by wage income sources and self-employment contributes the least. It is evident that agriculture is inequality increasing, while wage and household self employments are inequality decreasing. African Journal of Economic Policy Vol. 11(1) 2004: 1-16","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"915-916 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"117148324","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Real exchange rate behaviour and non-oil export growth in Nigeria","authors":"O. Ogun","doi":"10.4314/AJEP.V11I1.24260","DOIUrl":"https://doi.org/10.4314/AJEP.V11I1.24260","url":null,"abstract":"This study analyses the effects of real exchange rate behaviour in terms of misalignment and volatility, on the growth of non-oil exports in Nigeria. It employs two alternative measures of real exchange rate misalignment, one based on deviations from Purchasing Power Parity (PPP) and the other on a model estimate of equilibrium real exchange rate (RER). Under both frameworks, RER volatility is defined in terms of its coefficient of variations. The results show that, irrespective of the misalignment generating framework adopted, both RER misalignment and volatility adversely affect the country's non-oil export growth. However, the results under the model based approach appear to be more robust. African Journal of Economic Policy Vol. 11(1) 2004: 69-89","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123719355","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Poverty, property rights and socio-economic incentives for land conservation: the case for Kenya","authors":"Jane w. Kabubo-Mariara","doi":"10.4314/AJEP.V11I1.24259","DOIUrl":"https://doi.org/10.4314/AJEP.V11I1.24259","url":null,"abstract":"Rural poverty and land degradation are closely related, making resource management by poor rural households a crucial issue in solving the development and poverty problems facing the country. The present study responds to paucity of empirical studies on the link between poverty and land conservation in Kenya. The key hypothesis tested is that poverty in assets hinder adoption of land conservation practices among small holder farming households. The results suggest that assets are important determinants of adoption of land conservation practices, a confirmation that the poor will be less likely to conserve than the rich. The results suggest the need for policy measures that offer incentives for land conservation. African Journal of Economic Policy Vol. 11(1) 2004: 35-68","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"54 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-07-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121427418","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Privatisation and capital accumulation: emperical evidences from Ethiopia","authors":"J. Selvam, T. Iyappan","doi":"10.4314/AJEP.V12I1.24249","DOIUrl":"https://doi.org/10.4314/AJEP.V12I1.24249","url":null,"abstract":"This paper examines the connectivity between privatisation and private capital accumulation. Many previous studies lzave proved tllat privatisatiorr lras had a direct and positive effect on capital ncc~murlation through aftrncting privnte investn~errt. Ethiopia, one of the least cleveloped corlrrtries (LDCs), and ltaving spent t~vo decades of conrmunisnr, 11as irnpletrrerzted privatisatiorr programme as a tneans of nttractirtg a sizable itzvestmer~t sr~clr as the foreign direct investrrrertt (FDI). We rrsed data over tert years, 1994195 to 2003/04, and applied correlation and regression analyses to establisl~ the effect of the Ethiopian privatisntion programme on capital accumulation. The empirical results show that privatisation is robustly negative to capital accumulation. We suggest that the corintry needs to improve economic and political stability as well as openness coupled ~vitlr revitnlising tlre priwtisntion progranvne to prevent the Ethiopian eco~ronry front further capital sabotage.","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"5 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128261756","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Impact of manufactured goods' exports on economic growth: a dynamic econometric model for Nigeria","authors":"T. Lawanson, A. O. Lawanson, A. Bankole","doi":"10.4314/AJEP.V11I2.24252","DOIUrl":"https://doi.org/10.4314/AJEP.V11I2.24252","url":null,"abstract":"The impact of exports on growth has for a long time enmeshed in controversy partly due to both positive and negative effects empirically established in the literature. Still, most studies in developing countries have left detailed examination of exports' components and domestic institutions unexplored in the export-growth nexus. Based on an error correction model, this paper examines the impact of manufactured exports and its components on economic growth in Nigeria, taking cognisance of the country's institutional framework. Few of the components of manufactured exports were found to exert positive influence on growth both in the long and short runs. The paper, however, finds ample evidence in support of the relevance of quality of institutions in the economic growth process. In effect, with the right institutional framework, export-led growth, and specific focus on selected manufacturing sub sectors there appears to be a feasible development strategy for Nigeria. African Journal of Economic Policy Vol. 11(2) 2004: 1-26","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2006-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129579232","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}