Harvard International Journal of Management Science and Entrepreneurship (HIJMSE)
Vol.10 (5) June, 2019 Editions ISSN: 0576 – 8410
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ASSESSMENT OF THE PROBLEMS AND PROSPECTS OF SMALL AND MEDIUM ENTERPRISES (SMES) GROWTH AND DEVELOPMENTAMONG SELECTED SMES IN OYO STATE, NIGERIA.
SHIAKA T.M., AINA M.
Department of Geography, Ahmadu Bello University, Zaria, Kaduna State.
The study examined the assessment of the problems and prospects of small and medium enterprises (SMEs) growth and development among selected SMEs in Oyo State, Nigeria. The objectives of the study were to assess the problems and prospects of small and medium enterprises (SMEs). Relevant conceptual framework and empirical literature were reviewed. The study’s research design adopted was descriptive research design. Data were analyzed using the latest form of the statistical package for the social sciences (SPSS) version 20. Descriptive statistics (frequencies and percentages) were performed on the respondents’ demographic information. T-test analysis was used to determine the influence of the tested variables on the growth and development of SMEs.In the study it was found that the challenges of SMEs significantly affect the growth and development of SMEs. However, the prospects of SMEs in Nigeria do significantly affect its growth and development. The study concluded that SMEs owners are of the opinion that they are faced with several challenges and problems. Their view portrays that government should do mare to encourage SMEs in Nigeria towards reaching their potentials through growth and development. To ensure quality performance from SMEs, the prospects of SMEs must be guaranteed.The study therefore recommended that government leaders should do everything necessary to improve SMEs for economic development.
Keywords: SMEs, Problems, Government, Prospects, Oyo State, Nigeria.
BOARD CHARACTERISTICS AND FINANCIAL PERFOMANCE IN NIGERIA: A REVIEW
YUSUF NUHU AND MUHIBBAT ABDULLAHI
Department of Accounting and Finance, Abubakar Tafawa Balewa University, Bauchi Nigeria.
The study examined Board characteristics and performance in Nigeria. It investigates whether board composition, Board size, audit committee composition affects financial performance of listed DMBs in Nigeria. This was necessitated by the conflicting findings documented by studies that have associated Board characteristics and performance. The results revealed that Board characteristics has positive relationship with performance of a company. Therefore, based on the findings of the study, it concludes by saying there is significant influence of Board characteristics on financial performance of listed DMBs in Nigeria. The study recommend to the banking sector to take sound boards as an important driver of boosting profitability of organizations.
Keywords: Board characteristics, financial performance, board composition, Board size, audit committee composition
FINANCIAL DEVELOPMENT AND ECONOMIC DEVELOPMENT IN NIGERIA (1981-2016)
*IFEANYI MADUMERE PH.D. AND **FRIDAY E. AKPAN PH.D.
*Department of Accounting, Faculty of Management Sciences, Federal University Otuoke, Yenagoa Bayelsa State, Nigeria. **Centre for Financial and Accounting Research (CEFAR), Nigerian College of Accountancy, Kwall, Jos, Nigeria.
This research examined the nexus between financial policy and economic growth in Nigeria. The study employed credit to private sector, lending rate, market capitalization and money supply as proxy to measure financial policy, while GDP was used to capture economic growth, using annual data from 1981 to 2016. All the variables were stationary at first difference using the Augmented Dickey Fuller (ADF) and Phillip Perron (PP) tests. The Johansen Cointegration test result showed that a long-run relationship between financial policy and economic growth existed. The research shows that out of the four proxies for financial policy, three exhibited significant relationship with economic growth. These findings therefore imply that a relationship exists between financial policy and economic growth, indicating that a growth in the financial sector will cause same in the economy. Finally, the study recommends that the government formulate policies that will enhance credit to the private sector, such as not operating the Treasury Single Account (TSA) Policy in a holistic manner, so that banks will have fund to propel their credit delivery function effectively; considering the fact that the public sector drives the Nigerian economy as it stands now. However for capital market development, investors’ protection policies should be enhanced in order to strengthen and improve public confidence in the capital market, such as reducing charges for the purchase and sale of securities and reduction of listing requirements for new companies on the exchange.
Keywords; Economic growth, Financial policy, Financial sector development, Capital market. JEL Classification: G32, O23
THE EFFECTS OF EARNINGS QUALITY ON THE SHARE PRICES OF QUOTED CONGLOMERATE FIRMS IN NIGERIA
OLORUNTOBA, ADEYEMI DAVID & IRMIYA, SOLOMON REUBEN
Department of Banking and Finance, Faculty of Management Sciences, University of Jos
This paper investigated the impact of earnings quality on the share prices of quoted Conglomerate firms in Nigeria. The sample of the study is 100% of the population. The study employed the use of multiple regressions as a tool of analysis to examine the impact of discretionary accruals, earnings persistence and earnings variability on share prices of quoted conglomerate firms in Nigeria. The study revealed a positive and significant impact of discretionary accruals, earnings persistence on share prices. However, the impact of earnings variability on share prices was found to be negatively significant. The study concluded that earnings quality has significant impact on share prices of quoted Conglomerate firms in Nigeria. Therefore, it was recommended that the management of quoted conglomerate firms in Nigeria should make declaration upon the quality of the reported earnings in their annual reports and accounts.
Keywords: Earnings Quality, Accruals Quality, Share Prices, Quoted Conglomerate Firms, Nigerian Stock Exchange and Capital Market
COMPARATIVE ANALYSIS OF INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) COMPLIANCE AMONG SUB-SECTORS OF LISTED COMPANIES IN NIGERIA
ALIU, ISMAILA DAUDU (ACA), SANNI, MUBARAQ (PHD, FCA) & OLANREWAJU, YEMISI ESTHER (CNA)
Department of Accounting and Finance, Kwara State University Malete, Kwara State Nigeria.
Adoption of IFRS have significantly led to greater consistency in recognition and measurement of accounting information but the burden of complying fully with the disclosure requirements is complex and impacting upon corporate financial reporting practices of listed firms across the globe. Many companies usually claim that their financial statements are prepared in accordance with IFRSs but the reality is different due to varying levels of compliance which have been attributed to absence of “bright‐line” rules coupled with the failure of auditors to express opinion regarding the extent of IFRS compliance. These consequently affect the quality of financial information, limit the potential effect of IFRS and impair the ability of investors and other market participants from making rightful decisions among listed companies. These motivate the study to carry out comparative analysis of IFRS compliance among various sub-sectors of listed companies in Nigeria, this will be achieved through investigation of the level of IFRS compliance and the extent to which IFRS compliance differs among various sub-sector of listed companies in Nigeria. 522 annual reports of 87 listed companies in Nigeria from 2012 to 2017 for different sub-sectors were employed and analyzed using descriptive analysis and ANOVA to test mean difference. The findings of the study revealed that more than 70% (368 firms) of Nigerian listed companies achieved IFRS compliance score of below 49% while 27% (41 firms) achieved between 50% to 59% compliance score and only 2% (13 firms) achieved compliance score of above 60%. The overall compliance index score ranged from 6% to 66% with average mean compliance score of 41%. The low performance in the compliance score was attributed performance in IAS 8 and IFRS 7. The study also revealed differences existed in the level of IFRS compliance among the IFRS, Nigerian listed companies and various sub-sector. The study concluded that IFRS differences existed among Nigerian listed companies in various sub-sector. Therefore, the study recommends that the regulatory bodies need to strengthen their monitoring activities to ensure that listed companies in Nigeria are not only adopting IFRS but also complying full with disclosure requirements. Also, Nigeria government should establish separate regulatory agencies for each sector because of the impact of IFRS compliance on the quality of accounting information and financial statements.
THE EFFECT OF HOT AIR CURING ON ULTRA-HIGH STRENGTH CONCRETE USING LOCALLY AVAILABLE MATERIAL
*ADEWARA S.O. **GANA A.J. ***ABOLUSORO A. A. *OLONI.E.F **EKWOMADU T.J.
*Department of Economics, Landmark University, Omu-Aran, Kwara State **Civil Engineering Department, Landmark University, Omu-Aran, Kwara State ***College of Agricultural Science, Landmark University, Omu-Aran, Kwara State
High and Ultra-high strength concrete are becoming popular for many applications, including critical infrastructure subjected to high strain rate loading such as blast and impact. A strain rate dependent material that is applicable to a range of strengths, varying from normal strength to ultra-high strength concrete, is presented in this paper. The result from a comprehensive experimental study conducted to investigate the strength and deformation capacity of concrete cylinders udders high-velocity impact loading using a split. Unconfined 50 mm diameter cylinder with compressive strength varies from 32Mpa (4640 psi) to 160Mpa (23 200 psi) were tested to deprive the dynamic properties of concrete at strain rate up to 300 s-1 the SHPB test data were analyzed to obtain the stress-strain relationships and strength dynamic increase factors (DIFs) for these concrete specimens under dynamic compression.
Keywords: Effects, Hot Air Curing, Ultra High Strength Concrete, Locally available materials.
THE IMPACT OF TECHNOLOGY ON CUSTOMERS SERVICE: USING STATISTICAL
*CHINEDU K. WORDU **ENU-OBARI N. EKAKA-A ***ALEX MUSA
*Business Analysis Unit, Anyiaba Informatics (Nigeria) Ltd. Port Harcourt, Nigeria **Department of Mathematics, Rivers State University, Nkpolu, Port Harcourt, Nigeria ***Department of Mathematics and Statistics, University of Port – Harcourt, Choba, Port – Harcourt, Nigeria.
Technology is essential for a quality customer service. The study employed a descriptive design. Two research questions with corresponding hypotheses, tested at .05. Researches – constructed questionnaire, validated with a reliability index of 0.76 was used for the study. The obtained data were subjected to percentages and t-test. Data analysis yielded a significant impact of Automated Teller Machine (ATM) on customer service and no significant impact of website on customer service. Based on the findings and conclusion, the researchers recommended that government should make it compulsory for every organization to train and develop its workers.
Keywords: Technology, customer service, Automated Teller Machine (ATM), website, customer supplier relationship
CHALLENGES OF RECORDS MANAGEMENT PRACTICES IN SUSTAINABLE DEVELOPMENT GOAL IN THE 21ST CENTURY: AN INTRINSIC SUCCESS ACHIEVEMENT ELEMENT IN THE MINISTRY OF INFORMATION AND STRATEGY, LAGOS STATE, NIGERIA
INNOCENT, GLORY CHIMNECHETAM
Department of Office Technology and Management School of Management Sciences Federal Polytechnic, Ekowe Bayelsa State, Nigeria
Records management is more than generation of records and storing them. More challenging activities are involved, especially, in the ministries where bulky records are created each day. This research looked at the record management practices of the Ministry of Information and Strategy, Lagos, Nigeria and the challenges it faces in administering its public record generation and disposal services and how the services affect the Ministry’s decision making. Total enumeration method was used on the 37 employees of the Ministry. Data was collected through questionnaire and 35 of the respondents’ filled the questionnaire. It was analyzed using SSPS analytical package and reported in discrete figures, percentages; and two hypotheses were tested using Chi Square at 0.05 degree of significance. Among the findings are that effective implementation of records management practices positively enhances organizational performance and that proper records management practice positively brings about easy decision making in the organization. It is recommended that the Ministry should have a records retention schedule and that the workers should be given training on electronic record keeping.
Keywords: Records management, Records storage, Records classification, Records filing, Records lifecycle, Records management policy.
DETERMINANTS OF TAX EVASION WHEN TAX AUTHORITIES ARE NOT TRANSPARENT: EVIDENCE FROM ILORIN METROPOLIS
*ADEWARA SUNDAY OLABISI, *OMONIYI DANIEL, **GANA A.J. ***BEN-CALEB EGBIDE
*Department of Economics, Landmark University, Kwara State, Nigeria **Department of Civil Engineering, Landmark University, Omu-Aran, Kwara State, Nigeria ***Department of Accounting, Landmark Univeristy, Omu-Aran Kwara State, Nigeria
This study focused on the determinants of tax evasion in one of the major cities in Nigeria, Ilorin in Kwara State. It considered how tax payers respond to their civil responsibility of tax payment when the tax authorities are perceived not to be transparent in their handling of tax revenue. Ordered probit regression method was used to estimates the identified determinants of tax evasion based on established literature. Our result shows that tax evasion will be low if punishment for evasion is severe in Ilorin metropolis. However, weak tax institution with low penalty for tax evasion increases probability of tax evasion. Other factors that significantly increase tax evasion are powerful institution with low evasion penalty, political capture and tax payers’ socialization. The study therefore recommends severe punishments with powerful tax institution as remedy to the high rate of tax evasion in the State.
Keywords: Transparent, Evidence, Evasion, Tax, Determination.
INFORMATION AND COMMUNICATION TECHNOLOGY: AS VERITABLE TOOL FOR SOCIO- ECONOMIC DEVELOPMENT OF NIGERIA
*AISHA MUSA (Mrs) *MARYAM .A. JIMOH (Mrs) **AISHATU ALTINE ABDULHAMID
*Department of Office Technology and Management Kaduna Polytechnic, Kaduna **Department of Business Administration and Management Cams, Kaduna Polytechnic
This paper discusses information and communication technology as a veritable tool for economic development takes a look at the possibilities ICT always bring in the development of a economic especially in the developing countries. Many people think that humankind is at the down of a new era, that of an age of communication. Visions abound on how breakthrough in information technology will change the way we live, work, do business and interact. It is widely believed that the information age will bring radical change and improvement, and countries all over the world are busy with constructing the necessary infrastructure in order to meet the challenges of the information economic of the twenty-first century. Some of the findings made include: technology has a critical role to play in the development effort of the world, ICT is crucial to sustainable poverty reduction, mobile phones have an especially dramatic impact in developing countries, the internet has also spurred a growing wave of innovation and ICT provides key inputs for economic development. The paper concludes that information and communication technology has really played a vital role in economic development. The researchers therefore recommend that government should develop and support implementation of ICT policies and training institutes should provide ICT training within national policy framework.
Keywords: ICT, Economic, Development, Society
PRODUCTION AND QUALITY ASSESSMENT OF LOCALLY PRODUCED CHOCOLATE
1ADEBUSOYE MICHAEL SUNDAY; 2 EDUZOR ESTHER; 1ADESANYA T.DOROTHY; & 2EMMANUEL SAMUEL
1 Department of Nutrition and Dietetics, Federal Polytechnic, Bauchi. 2Department of Food Science & Technology, Federal Polytechnic, Bauchi
Cocoa and chocolate have been acclaimed for several years for their possible medicinal and health benefits. It is only recently that some of these claims have been more clearly identified and studied. Chocolate has been consumed as confection, aphrodisiac, and folk medicine for many years before science proved its potential health benefiting effect. This study production and quality assessment of home produce chocolate, produced three samples; Sample A contain; powdered milk – 50g cocoa powder – 220g margarine – 120g roasted peanut paste – 50g roasted soybean powder 30g sugar -120g shea butter – 20g sample B contain; powdered milk – 50g cocoa powder – 220g margarine – 130g water -230ml roasted peanut paste – 30g roasted soybean powder 30g sugar-120g shea butter 20g sample C contain ; powdered milk – 50g cocoa powder – 220g margarine – 120g water -230ml roasted peanut paste – 160g roasted soybean powder 30g sugar -120g. From the result of the sensory evaluation it has been revealed that locally produced chocolate was highly acceptable by the populace using T- test and ANOVA. The proximate analysis shows that the locally produce chocolate has high moisture content (113.41%), carbohydrate (117.68%) and protein (74.67%) but low ash content (0.80%) crude lipid (5.2%) and fiber (0.60%) for the three parameters. Based on these findings it has been concluded that chocolates enriched with peanut and soybeans will be highly acceptable by consumers. Therefore, enrichment of locally produced chocolates using available ingredients will help in reducing malnutrition because of high nutrients content in the locally produced chocolate.
Keywords: Cocoa powder, chocolate, quality assessment
STAFF TRAINING NEEDS ASSESSMENT IN RAMAT POLYTECHNIC MAIDUGURI, BORNO STATE, NIGERIA
*SANI MUSTAPHA KURA *AISHATU MUSA **ADDA GANA BUKAR
*Department Of Social Work, Ramat Polytechnic, Maiduguri, P.M.B.1070, Borno State, Nigeria **Department Of Industrial and Labour Relations, Ramat Polytechnic, Maiduguri, P.M.B. 1070, Borno State, Nigeria
This study is on an evaluation of staff training needs assessment in Ramat polytechnic, Maiduguri, Borno State. Staff training and development means the provision of facilities and opportunities for people to perform the jobs for which they are employed and to develop their own personal potentials to meet their present and future needs in line with organizational objectives. Several studies have been conducted on training activities in Ramat Polytechnic, Maiduguri. These range from staff study leave arrangement, staff conference/workshop attendance to the Education Trust Fund staff development system. However, these studies are silent on training needs assessment. The general objective of the research was to evaluate staff training needs assessment in Ramat Polytechnic. The specific objectives were to identify the types of training needs of the Ramat Polytechnic staff, evaluate whether and how the training is assessed and to assess staff satisfaction with the training they have received. The study utilized both primary and secondary sources of data. The primary data were derived from the questionnaire and In-depth Interview, while the secondary data was obtained from review of relevant literatures such as documents from Ramat Polytechnic, Maiduguri.
Keywords: Training, Training needs, Training Evaluation, Staff Training Analysis
THE PLACE OF DIRECT-MARKETING ON THE MARKETING OF INDUSTRIAL OF PRODUCT
OSENI, ABDULKARIM DANLAMI
Department of Marketing, School of Business Studies, Auchi Polytechnic, Auchi.
Direct marketing trades on the greatest of all sales advantages – the opportunity to communicate directly with your customer to build a personal relationship. It allows you to reach your target audience with direct messages, without using traditional, costly advertising methods such as TV, newspapers and radio advertising.
EFFECT OF WORKING CAPITAL MANAGEMENT ON PROFITABILITY OF NIGERIAN PETROLEUM RETAIL FIRM
1ODETAYO T.A. AND 2*ADEGBITE I.O.
1Department of Accountancy, Osun State Polythechnic, Iree, Nigeria 2*Department of Statistics, Osun State Polythechnic, Iree, Nigeria.
This study focuses on the accounting and financial statement analysis perspective of working capital, which focuses on current assets and current liabilities measured on the balance sheet. The study examined the effect of working capital management on organization performance of entire MRS Oil and Gas listed in the Nigerian Stock Exchange as at 2012 – 2016. Multiple regression analysis was employed to determine the relationship between working capital management and organizational performance of MRS Oil and Gas Plc and its effect. The findings depict that the most important Working Capital Management componenst that drives the firm’s profitability measured in Return on Asset are combination of Cash Conversion Circle, Average Days of Inventory, Average Day Receivable and Average Day Payable (ADP). However, singularity each component is not statistically significant enough to influence profitability. It is recommended that the company should take every working variable as significant since their combined effort are needed for organisation performance.
Keywords: Inventory, Asset, Working Capital, Profitability and Liabilities.
EFFECTS OF INFORMATION AND COMMUNICATION TECHNOLOGY ON SERVICE DELIVERY TO CUSTOMERS OF COMMERCIAL BANKS IN MAIDUGURI METROPOLIS
Department of Banking and Finance, Ramat Polytechnic, Maiduguri.
Financial institutions are catalyst that drives the economy of every nation in the world. The innovations of information and communication technology has paved way for customers of commercial banks to access their various financial transactions through the means of electronic payment media to ensure quick and prompt delivery of services. The study assessed the perception of bank customers on the effect of information and communication technology on service delivery in selected banks, Maiduguri metropolis, Borno state, Nigeria. The study assessed the effect of Automated Teller Machine on transaction time. The findings of the study revealed that there are positive significant effect of Automated Teller Machine on transaction time, mobile banking on transaction cost and computers on queue in the help desk. based on the findings the study recommends that commercial banks should ensure that they always put in enough money in to their various ATMs to avoid short of cash during transaction so as to overcome the financial need of the densely population of the end users due to the insurgency menace, Government and the financial institutions should provide infrastructural facilities like power and electricity to provide support for electronic banking equipments such as ATMs and other electronic payment system so as to provide smooth and efficient internet services to customers of commercial banks and also stake holders should invest more in obtaining quality ATMs so as to ensure improved performance of the electronic payment system that would render easy, ,fast and convenient service delivery to customers of commercial banks.