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Corporate Social Responsibility and the Performance of Non-finance Firms in Nigeria
Henry Osahon Osazevbaru,
Vincent Ivwighrevero Oruwevwiruohwo Odiri,
Garba Hassan Yahaya
Issue:
Volume 10, Issue 6, December 2021
Pages:
209-218
Received:
12 October 2021
Accepted:
5 November 2021
Published:
17 November 2021
Abstract: This study assessed the effect of corporate social responsibility on organizational performance by means of expo-facto research design. Secondary data of seventy-five (75) listed non-finance firms were obtained for the period 2010-2019. Corporate social responsibility (CSR) variants of local community disclosure, social donations and gifting, employees training disclosure, and health and safety disclosure, and performance proxies of gross profit margin, profit before tax margin, return on equity, and earnings before tax margin were obtained from the annual reports and accounts of the listed non-finance firms. The yearly panel data obtained was analyzed using both descriptive and inferential statistics. The fixed and random effects result indicated that while corporate social responsibility significantly affects gross profit margin, profit before tax margin and earnings before tax margin, insignificant effect was found for the return on equity. Given the findings of the study, it was recommended among others that firms should gear efforts toward providing sustained and enhanced social responsibility activities in the areas of employees’ health and safety, community development projects, customers’ complaints, and social donations and gifting in order to attain maximum performance as well as competitive advantage. Again, firms should see CSR as a dynamic investment which promotes crucial attitudes of employees, local community and consumers, instead of simply being a cost to the firm.
Abstract: This study assessed the effect of corporate social responsibility on organizational performance by means of expo-facto research design. Secondary data of seventy-five (75) listed non-finance firms were obtained for the period 2010-2019. Corporate social responsibility (CSR) variants of local community disclosure, social donations and gifting, emplo...
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Barriers to Accessing Financial Institutions Funding for Nigerian SMEs
Babandi Ibrahim Gumel,
Barjoyal Bin Bardai
Issue:
Volume 10, Issue 6, December 2021
Pages:
219-226
Received:
26 October 2021
Accepted:
11 November 2021
Published:
19 November 2021
Abstract: Small businesses are recognized worldwide as a catalyst of socio-economic development. Like all developed and developing countries, due to the economic importance of SMEs, the federal government of Nigeria is developing policies and strategies to diversify its economy from total dependence on oil. Part of the economic development diversification effort by the federal government of Nigeria is to develop entrepreneurship and small businesses. The most crucial aspect of SMEs in Nigeria is their contribution to employing most citizens. Despite the importance of socio-economic development, most SMEs fail within the first five years. Many challenges are facing SMEs in Nigeria, which resulted in their failure. Although financial resources have been a critical success factor to SMEs, they find it difficult to access financial institutions funding to finance innovation and business opportunities to ignite success and growth. Many studies had identified numerous barriers to access to financial institutions funding, but they apply to locations of the findings. The objective of this paper was to identify the barriers that are preventing small businesses from accessing financial institutions funding in Nigeria. In this study, 296 small business owners/managers participated in a quantitative self-administered survey, and 15 owners/managers with adequate knowledge of small business managers participated in a semi-structured interview. The mixed research method revealed four barriers to accessing financial institutions funding to Nigerian SMEs: inadequate access to financial institutions; inadequate education, skills, and experience of owners/managers; exorbitant interest rates; and gender discrimination. The study made seven recommendations for removing the barriers which might spur financial institutions' funding of SMEs in Nigeria. Improving access to financial institutions funding will increase success and growth, reducing unemployment and igniting socio-economic development as envisaged by the federal government of Nigeria. The study concluded that most of the recommendations would be implemented by government and regulators through appropriate policies and strategies that will increase the access of small business financial institutions funding.
Abstract: Small businesses are recognized worldwide as a catalyst of socio-economic development. Like all developed and developing countries, due to the economic importance of SMEs, the federal government of Nigeria is developing policies and strategies to diversify its economy from total dependence on oil. Part of the economic development diversification ef...
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Evaluation of the Dynamics of Remittance in Bangladesh During the Pandemic: A Study on Commercial Bank of Ceylon PLC
Issue:
Volume 10, Issue 6, December 2021
Pages:
227-235
Received:
18 July 2021
Accepted:
27 July 2021
Published:
19 November 2021
Abstract: Remittance has been one of the most vital behind the economic development of Bangladesh. But due to the global pandemic, remittance flow all over the world was disrupted. In Bangladesh also, the dynamism of remittance was disturbed but later on with the advancement of time it began to regain its momentum during the global pandemic. The main purpose of this paper is to evaluate the changes in the dynamics of remittance in Bangladesh that have occurred during the pandemic period and to observe the differences with that of the pre-covid period. Moreover, the major sources and purposes of remittance inflow both during the pandemic and also the pre-pandemic period will be evaluated for the timeframe of 2010-2020. Along with this a forecast has been made regarding the future dynamism or portrait of remittance inflow for the year 2021 from the perspective of Commercial Bank of Ceylon. To be exact, the main objective of the paper is to evaluate the change in the trend of dynamism of remittance flow due to the pandemic in Bangladesh from the perspective of Commercial Bank of Ceylon PLC. The paper is quantitative and descriptive in nature. Microsoft Excel and SPSS 27 has been used for the analysis of data. Results show that for the selected time frame the bank experienced a good growth in the remittance flows. During the pandemic the growth of inward remittance has reduced a bit. USA and Freight Charges were the major source and purpose of remittance in Commercial Bank of Ceylon for the last decade. From forecasting it was seen that the bank will enjoy a upward trend in inward remittance in 2021. In order to achieve the forecasted values and for efficient operations some useful recommendations have been provided in this paper. In conclusion, it can be said that as the bank is having a good trend in the dynamics of remittance, the dynamism of remittance in Bangladesh has not been altered majorly rather it is performing satisfactorily.
Abstract: Remittance has been one of the most vital behind the economic development of Bangladesh. But due to the global pandemic, remittance flow all over the world was disrupted. In Bangladesh also, the dynamism of remittance was disturbed but later on with the advancement of time it began to regain its momentum during the global pandemic. The main purpose...
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The Effects of Promotional Mix Strategies on Organizational Performance: Evidence from Systematic Review of Literature
Oliyad Ejeta Abdeta,
Shimels Zewdie
Issue:
Volume 10, Issue 6, December 2021
Pages:
236-245
Received:
29 October 2021
Accepted:
19 November 2021
Published:
24 December 2021
Abstract: Currently, promotional mix becomes necessary for business success. A marketing strategy contains the company's value proposition, key brand messaging, data on target customer demographics, and other high-level elements. Promotional strategy helps organization through building customer relationship which affects the organizational performance. The researchers used systematic literature review method. This systematic literature reviewed cover major promotional strategy such as sales promotion, advertising, public relation, direct marketing and personal selling. The qualitative analysis carried out on the existence of promotional strategies significance on organizational performance. This analysis of this reviewed articles were passed different reviewing stages. Managers/leaders, scholars and different eminent group will be beneficiary of this seminar. The seminar was provided theoretical and empirical literatures on promotional strategy and performance to provide detail information and give deep knowledge for the readers. The results indicated that promotion has impact on organizational performance, sales promotion has impact on sales volume, market share and profitability of the firms, advertising has impact on organizational performance, public relation has impact on organizational performance and direct marketing has impact on organizational performance. Finally, the researcher concluded that in order to generalize and taking them into local bases the scholars finding will be demand further research on the subject area.
Abstract: Currently, promotional mix becomes necessary for business success. A marketing strategy contains the company's value proposition, key brand messaging, data on target customer demographics, and other high-level elements. Promotional strategy helps organization through building customer relationship which affects the organizational performance. The r...
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Garment Sector Development Nexus Economic Growth in Bangladesh: A Dynamic Cointegration and Causality Analysis
Md. Sharif Hossain,
Shah Alam
Issue:
Volume 10, Issue 6, December 2021
Pages:
246-257
Received:
21 November 2021
Accepted:
7 December 2021
Published:
24 December 2021
Abstract: In Bangladesh the garment sector is one of the major industrial sector which occupied its foremost presence in the economy of the country in terms of foreign exchange earnings, contribution to GDP, and employment generation and as well. The garment sector plays significant roles for socio-economic development and poverty alleviation in Bangladesh. The export-oriented readymade garments (RMG) sector in Bangladesh, started its journey in late 1970s as a small non-traditional sector of export. The industry began its journey from 1978 and formally started its journey in the 1980s, after that RMG sector of Bangladesh started growing, capture the market globally and providing valuable performance. In 1979 the garment sector exported only 0.672 million $ with operating 12 garment factories by 0.39 million workers but in 2020 within a span of two decays export values have gone up to 31456.73 million USD with its 4764 export oriented garment industries including 4.23 million workers. Thus an important question is usually raised by the researchers, is there a long-run cointegration relationship between garment sector development and economic growth in Bangladesh? To give the answer of this question this paper has tried to find out whether the long-run cointegration relationship exists between garment sector development and economic growth in Bangladesh economy. The study is used the times series data from 1976-2020 for garment sector development and economic growth. The existence of long-run cointegration relationship is found between garment sector development and economic growth in Bangladesh economy. From the estimated results of the vector error correction (VEC) model it is found that there exists short run bidirectional causality between garment sector development and economic growth. The significance and negative sign of test statistic of ECM(-1) denotes the existence of long run causality between garment sector development and economic growth. Therefore, it can be presumed that there is a long-run equilibrium connection between garment sector development and economic expansion in Bangladesh economy. From the estimated values of response function it can be said that with respect to one standard deviation the variable garment sector development responds positively for the next fifteen years in the variable economic growth in Bangladesh.
Abstract: In Bangladesh the garment sector is one of the major industrial sector which occupied its foremost presence in the economy of the country in terms of foreign exchange earnings, contribution to GDP, and employment generation and as well. The garment sector plays significant roles for socio-economic development and poverty alleviation in Bangladesh. ...
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Impact of Unemployment, Inflation and Households Consumption on Economic Growth
Felicia Abada,
Charles Manasseh,
Ogochukwu Okanya,
Nnenna G. Nwonye,
Ngozi Mabel Nwekwo,
Shammah E. Shimmah,
Oluseun Paseda
Issue:
Volume 10, Issue 6, December 2021
Pages:
258-266
Received:
28 June 2020
Accepted:
9 July 2020
Published:
24 December 2021
Abstract: The challenges imposed by the rising cases of unemployment, inflationary rate and less purchasing power in households have stirred considerable interest amongst researchers and actors in contemporary times in designing agreeable mechanism that engenders economic growth. This paper examined the impact of unemployment, inflation and household’s consumption on economic growth for 1960 to 2018. OLS estimation technique was adopted. From the findings, unemployment, inflation and household’s consumption impacted on economic growth. But it was observed that inflation (INF) significantly influence economic growth in Nigeria. However, controlling for the influence of consumer price index (CPI), we observed that it is a key determinant of economic growth. The study therefore recommends for efficient and effective policy mix that may monitor the inflation rate in Nigeria.
Abstract: The challenges imposed by the rising cases of unemployment, inflationary rate and less purchasing power in households have stirred considerable interest amongst researchers and actors in contemporary times in designing agreeable mechanism that engenders economic growth. This paper examined the impact of unemployment, inflation and household’s consu...
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Relationship and Consequences of Brand and Product Management, and Customers Performances-Systematic Review
Debebe Alemu Kebede,
Shimelis Zewdie
Issue:
Volume 10, Issue 6, December 2021
Pages:
267-276
Received:
24 November 2021
Accepted:
14 December 2021
Published:
24 December 2021
Abstract: Brand and product management is among the organizational exercises that look for out right now better approaches to maintain their competitive advantage. Consequently, ponder the pointed to distinguish the interceding impacts of administration of brand and item have on building clients relationship. Efficient survey was went with from 2010 to 2021 a long time and recognized 91 articles through the efficient audit methods to achieve the goals to consider. The collected data were documented in Microsoft Word and synthesized in a narrative manner. The think about uncovered that brand and item administration needs conceptual clarity, which impacts their estimation and in this way their administration. In any case, item administration is considered as the method of how the organizations make the item delivered jolt the client and create esteem from them. Whereas, brand management is considered as the method of joining a company’s product and administrations to its gatherings of people. Advance, the correct administration of brand and item leads to Mindfulness, seen quality, identity, and pictures. It moreover influences customers’ execution from the side of their devotion, commitments, connection, fulfillment, believe, and inclusion towards brand and item. In this manner, the brand and item administration exercises of the organizations are exceptionally critical for their.
Abstract: Brand and product management is among the organizational exercises that look for out right now better approaches to maintain their competitive advantage. Consequently, ponder the pointed to distinguish the interceding impacts of administration of brand and item have on building clients relationship. Efficient survey was went with from 2010 to 2021 ...
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Study on the Positioning of Internal Audit Function Under Corporate Governance
Issue:
Volume 10, Issue 6, December 2021
Pages:
277-283
Received:
25 November 2021
Accepted:
8 December 2021
Published:
25 December 2021
Abstract: Corporate governance mechanism is the core of a modern enterprise system and its effectiveness or otherwise is an important factor affecting corporate performance. A reasonable and effective internal audit is a basic requirement for good corporate governance, and it forms one of the four cornerstones of corporate governance, together with the board of directors, senior management and external audit. The internal audit function is not limited to being accountable to the company's management but also assumes a fiduciary responsibility to shareholders and stakeholders as well as to the external community. In fact, internal audit is an independent monitoring and control mechanism on whether the fiduciary party is effectively fulfilling its economic responsibilities. With the development of the market economy and the progress of enterprise economic management, the object of internal audit is not only limited to the financial aspect but also extends more to the management field. With the rapid development of information technology and the accelerating globalisation of the economy, the function of internal audit has also changed significantly and the function of internal audit must be expanded and extended to suit the modern corporate governance environment. The four traditional functions of internal audit include the supervisory function, control function, evaluation function and advisory function. The objectives of internal audit are gradually being aligned with those of corporate governance as modern enterprises continue to strengthen their corporate governance. The main objective of modern corporate governance is to increase the value of the company. To be consistent with the company's objectives, internal audit must be targeted at adding value to the business. So the core function of internal audit based on corporate governance should undoubtedly be to add value.
Abstract: Corporate governance mechanism is the core of a modern enterprise system and its effectiveness or otherwise is an important factor affecting corporate performance. A reasonable and effective internal audit is a basic requirement for good corporate governance, and it forms one of the four cornerstones of corporate governance, together with the board...
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Emergence in the UEMOA and EMCCA Areas Facing Industrialization Challenges
Issue:
Volume 10, Issue 6, December 2021
Pages:
284-289
Received:
5 July 2021
Accepted:
10 August 2021
Published:
29 December 2021
Abstract: This article, which adopts a documentary methodological approach based on the analysis and exploitation of reports produced by various international and regional institutions such as the IMF, the World Bank, the African Development Bank, ECOWAS, etc., and the writings of a number of emergence theorists, arrives at the result that the economies of two of the monetary economic zones examined suffer from a lack of industrialization that is blocking the member countries in their emergence process. The paper finds that the Central African Economic and Monetary Community (CEMAC) and the West African Economic and Monetary Union (WAEMU) have succeeded in stabilizing their monetary systems, but this monetary stability has not been accompanied by real emergence. The economies of most of the member states of these two organizations are based on commodities and cocoa, which means that they are totally volatile and therefore lack the stability necessary for true emergence. There is therefore a need for these two organizations to support through concrete actions industrialization programs to achieve the structural transformation of their economies likely to push their member states towards real emergence. Security efforts against terrorism are worthwhile in order to fight terrorism in the Sahel with the objective of creating a favorable space for foreign direct investment and local industrial production.
Abstract: This article, which adopts a documentary methodological approach based on the analysis and exploitation of reports produced by various international and regional institutions such as the IMF, the World Bank, the African Development Bank, ECOWAS, etc., and the writings of a number of emergence theorists, arrives at the result that the economies of t...
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