{"title":"The Impact of Financial Integration on Economic Growth in Nigeria","authors":"Ezebunwa Justice, Olise Oliseeloke Tamuno","doi":"10.56201/ijebm.v9.no4.2023.pg132.146","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no4.2023.pg132.146","url":null,"abstract":"The study investigated the effect financial market integration on economic growth in Nigeria over the period of thirty-two years ranging from 1990 to 2021. The study designed and specified a multiple regression model to examine the individual and joint effects of the proxies of financial market integration (trade openness, credit to private sector and government expenditure) on economic growth in Nigeria (measured in Gross Domestic Product). The model was estimated by Ordinary Least Square technique using E-views 12 statistical package. The annual time series data used were collected from Central Bank of Nigeria (CBN) statistical bulletin and analyzed with the aim of achieving the stated objectives. The study found that trade openness, credit to private sector and government expenditures have individual and joint significant effect on economic growth in Nigeria. Based on the findings, the study therefore concluded that the financial market integration plays a significant positive role in the sustenance of growth of the Nigerian economy","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":" 35","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139788177","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":"Corporate Governance and Financial Performance of Listed Firms in Nigeria","authors":"Olorunlero Solomon Segun","doi":"10.56201/ijebm.v9.no6.2023.pg12.29","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no6.2023.pg12.29","url":null,"abstract":"The objective of this study was to investigate the impact of corporate governance practices on the financial performance of listed companies in Nigeria. The study encompassed three industries: manufacturing, finance, and oil and gas, spanning the years 2010 to 2020. Employing a content analysis approach, data were collected from corporate websites and the Securities and Exchange Commission website. A total of 33 businesses were selected for the study. The study's analysis revealed that a majority of the corporations disclosed the majority of their corporate governance policies. Notably, the banking industry exhibited the highest level of corporate governance disclosure compared to other sectors. This implies that a company's decision to publish its corporate governance information online in Nigeria might be influenced by the regulatory environment of the sector. However, intriguingly, the research did not establish a correlation between a company's corporate governance score and its financial performance. Nevertheless, there was notable variation in the extent of corporate governance reporting across different sectors. In light of these findings, the report recommends that the Securities and Exchange Commission's code of best practices should be made obligatory for all industries in Nigeria. Furthermore, the establishment of a compliance team is advised to ensure that businesses across all sectors in Nigeria adhere to the regulatory mandates outlined in the code of corporate governance.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":" 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139788463","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 Empirical Exploration of Key Factors and Barriers to Consumer’s Adoption of Open Banking Applications","authors":"Mareike Heins, Georgios Rigopoulos","doi":"10.56201/ijebm.v9.no5.2023.pg1.12","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no5.2023.pg1.12","url":null,"abstract":"Open banking is a major innovation in financial industry and has been driven by technology developments, as well as legislation for financial data. Payment Systems Directive 2 (PSD2) has been a key initiative for European Union, aiming to increase competition and innovation among financial industry, by allowing the entry of third party licensed providers to the financial market. This is feasible by relaxing the data restrictions and ownership, and passing control over consumers, who may select among a wide set of service providers, and not only the traditional banks. Although, PSD2 and third party applications are in place, there seems that consumers do not adopt them widely. Also, it is not evident, if PSD2 has enabled the desired level of competition and innovation for the benefit if consumers. Due to lack of relevant works, this study, aims to explore the key factors that affect consumer adoption and at the same time examine the PSD2 effectiveness in the creation of a new landscape. A number of experts were interviewed and a qualitative analysis was followed. Results, indicate that key barriers to adoption are lack of awareness, data privacy and value proposition, while PSD2 seems that it has increased competition and innovation. Further studies can shed more light on those findings, in a wider perspective.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":" 34","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139789188","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":"Utilization of Information Technology is an Elixir to Maximizing Efficiency in Business Organizations","authors":"Gift J. Eke","doi":"10.56201/ijebm.v9.no2.2023.pg26.33","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no2.2023.pg26.33","url":null,"abstract":"This study has been able to justify the notion that the utilization of information technology is an elixir to maximizing efficiency of business organization. The paper used the qualitative approach applying survey design. The study purposively selects fifty (50) entrepreneurs and business owners to form the sampled subjects. The instrument for data collection used for this study was the close ended questionnaire with question items measured with the 4-likerts “Extent Format” (VHE, HE, LE, VLE). Conclusively, it was found that computers, mobile phone, computer software and internet are utilized for maximizing efficiency of business organizations to a high extent. Also, it was revealed that challenges as such infrastructural deficiencies, lack of maintenance culture, poor/no access to the internet and lack of skilled and competent ICT personnel has affected the utilization of information technology to a high extent. It recommended that business owners should ensure to put in place a standard ICT structure that will support effective and full utilization of information technology.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":" 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139789524","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":"Empirical Analysis of The Growth Effects of International Trade in Nigeria","authors":"Esther Kpalukwu","doi":"10.56201/ijebm.v9.no6.2023.pg38.49","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no6.2023.pg38.49","url":null,"abstract":"This role of foreign trade in driving growth in the domestic economy and boosting the potential of a country to foreign exchange earnings has remained a subject of interest in economic literature, thus provoking investigation into the claim that international trade is growth-enhancing. This study centred on the impact of foreign trade on economic growth. The specific objectives of this study are to explore the effects of net export, exchange rate and government capital expenditure on economic growth. This study covered a period of 35 years (1980-2015) and the source of data for the variables is the Central Bank of Nigeria Statistical Bulletin. The error correction model (ECM) was utilized as a technique for data analysis. The Phillips-Perron unit root test shows that the variables are stationary upon first differencing. Thus, the series are integrated of order zero. The Johansen cointegration test result indicates that the variables are cointegrated. Therefore, this reveals that the variables have a long-run relationship. The cointegrating regression result shows that net export has a significant positive impact on economic growth. The exchange rate on the other hand is found to significantly and negatively influence economic growth. The long-run impact of government capital expenditure on economic growth is negative and insignificant. The Wald test for coefficient restrictions shows that net export, exchange rate and government capital expenditure are statistically significant in explaining changes in economic growth. Based on the findings, it is recommended that government should adopt trade policies that promote export and reduce the incidence of importing competing goods to ensure that Nigeria optimizes the benefits that foreign trade creates.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":" 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139789618","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":"Lean Technical Factors and Customer Relations: An Assessment of Readiness to Deploy Lean Manufacturing within SMEs","authors":"M. Inuwa, Ibrahim Gondah Male","doi":"10.56201/ijebm.v9.no3.2023.pg15.30","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no3.2023.pg15.30","url":null,"abstract":"The study aims to assess lean readiness level within manufacturing SMEs from technical perspective by examining the relationship between process management and planning & control on customer relations. The research applied quantitative survey approach by administering questionnaire to SMEs managers. Responses received were analyzed using SMART-PLS 4 to examine measurement model, structural model, and path coefficient. The findings of the study show that process management and planning & control have a positive and significant relationship on customer relations. The study implies that manufacturing SMEs in Nigeria have an appreciable lean readiness from technical perspective. It also indicates that processes, planning and control activities within SMEs are compatible with lean practices and techniques. The study is among the few that assess lean readiness from technical perspective, hence given a new insight in evaluation of lean readiness","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":"59 3-4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139847361","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":"Utilization of Information Technology is an Elixir to Maximizing Efficiency in Business Organizations","authors":"Gift J. Eke","doi":"10.56201/ijebm.v9.no2.2023.pg26.33","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no2.2023.pg26.33","url":null,"abstract":"This study has been able to justify the notion that the utilization of information technology is an elixir to maximizing efficiency of business organization. The paper used the qualitative approach applying survey design. The study purposively selects fifty (50) entrepreneurs and business owners to form the sampled subjects. The instrument for data collection used for this study was the close ended questionnaire with question items measured with the 4-likerts “Extent Format” (VHE, HE, LE, VLE). Conclusively, it was found that computers, mobile phone, computer software and internet are utilized for maximizing efficiency of business organizations to a high extent. Also, it was revealed that challenges as such infrastructural deficiencies, lack of maintenance culture, poor/no access to the internet and lack of skilled and competent ICT personnel has affected the utilization of information technology to a high extent. It recommended that business owners should ensure to put in place a standard ICT structure that will support effective and full utilization of information technology.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":"41 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139849305","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 Nexus Between Revenue Generation and Economic Growth in Nigeria","authors":"O. O. Ayoola-Akinjobi, Adeleye Micheal Adekusibe","doi":"10.56201/ijebm.v9.no5.2023.pg26.41","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no5.2023.pg26.41","url":null,"abstract":"The general objective of the study is to examine the relationship between revenue generation and economic growth in Nigeria. Ex-post facto research design was used with secondary data collected from CBN database (2012-2022). The dependent variable was economic growth and measured by gross domestic product GDP while the independent variables was revenue generation and measured by oil and non-oil revenue. The study adopt usage the autoregressive distributed lag ARDL model for the data analysis which shows the long-run relationship between revenue generation and economic growth in Nigeria. It was discovered that oil revenue (OILR) exerts an insignificant positive effect on economic growth in Nigeria in the long run at 5% significant value. It implies that a unit increase in oil revenue will lead to 3.709184 units increase in economic growth in Nigeria. Conversely, non-oil revenue has a positive and significant coefficient of 1.257631 units. This implies that a unit increase in non- oil revenue will bring about 1.257631 units increase in economic growth in Nigeria in the long. The study recommends that effort should be made by the governments to diversify the main revenue source from oil to other sectors of the economy such as agriculture, extractive industries in order to increase revenue generated from other sources","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":"21 8","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139849450","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":"Inventory Management and Financial Performance Listed Construction Companies in Nigeria","authors":"Eta Ekenyong Ekenyong, J. Ohaka, Gospel J. Chukwu","doi":"10.56201/ijebm.v9.no3.2023.pg41.51","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no3.2023.pg41.51","url":null,"abstract":"This study investigated the relationship between cash management and financial performance of listed construction companies on Nigerian Exchange Group. Specifically, the objectives of the study are to examine the relationship between cash management and earning per share, ascertain the relationship between cash management and net profit. The ex -post facto research design was used. The study population comprised Six (6) listed construction companies as listed on the Nigeria Exchange Group in 2021. The entire population was used as the sample size, using the census approach. Data was source through the annual report of listed construction companies for 2011-2020. Pearson correlation and multiple regression was used in data analysis with the aid of Stata12 software. The study revealed that there is no relationship between cash management and earnings per share of listed construction companies on the Nigerian Exchange Group. There is no relationship significant between cash management and net profit of listed construction companies on the Nigerian Exchange Group. The study concluded that there is no significant relationship between inventory management and financial performance. The study recommended that effort should be made to decrease the number of inventory turnover days and increase the creditors’ payable days in order to minimize the length of the working capital cycle for increase financial performance; efficient inventory control measure like storing and transferring stock, as well as tracking should be put in place for enhance financial performance.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":"64 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139849584","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}
Okore Amah Okore, A. Nwadiubu, David Ogomegbunam Okolie, Jonathan Ibekwe Okolie
{"title":"Small and Medium Scale Business Financing and Its Effect on the Nigerian Economy: 1992 – 2021","authors":"Okore Amah Okore, A. Nwadiubu, David Ogomegbunam Okolie, Jonathan Ibekwe Okolie","doi":"10.56201/ijebm.v9.no3.2023.pg52.60","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no3.2023.pg52.60","url":null,"abstract":"This study investigated the effect of small and medium scale business financing on the Nigerian economy. The ex-post facto research design was adopted and the dependent and independent variables were observed over the period, 1992 to 2021. The nature of data was secondary, sourced from the Central Bank of Nigeria Statistical Bulletin. The data were tested using the Eview statistical software adopting the Ordinary Least Square (OLS) method on the regression model adopted. The signs and significance of the regression coefficients was relied upon in explaining the nature and influence of the independent variable on the dependent variable as to determine both magnitude and direction of impact. The aprior expectation was that SME financing positively and significantly affect the Nigerian economy. The hypotheses were tested at 0.05 (5%) level of significance. Findings from the study showed that commercial bank loan to small and medium scale enterprises have positive and significant impact on GDP. Similarly, commercial bank loan to private sector has positive and significant impact on GDP. Hence, the study concludes that small and medium scale business financing has positive and significant impact on the Nigerian economy. Hence, it implies that SMEs financing contributes to economic growth in Nigeria. The study therefore recommends that the Federal Government of Nigeria through the Central Bank of Nigeria should prioritize financial inclusiveness in the small and medium scale sector of the economy to enhance availability and accessibility of investable funds in the sector.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":" 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139787676","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}