The aim of this study was to ascertain the extent of the relationship between new service concept and investor satisfaction of aviation firms in Rivers State. This study adopted causal research, involving cross sectional survey design and used structured copies of questionnaire. The population of this study comprised of eight (8) airlines registered with the Rivers State ministry of commerce and industry. 20 Copies of questionnaire was distributed to management staff in each of the airlines. The total number of respondents for the study was one hundred and sixty (160). The hypotheses were tested using Spearman Ranking Order Correlation with the aid of SPSS Version 21. The study unveiled a very strong relationship between new service concept and investor satisfaction. This study therefore concluded that increased investor satisfaction can be achieved if aviation firms in Rivers State provide new and innovative service concept.
{"title":"New Service Concept and Investor Satisfaction of Aviation Firms in Rivers State","authors":"Jaja Happiness, Nwokah Gladson, Juliet Chukwu, Evelyn Nnenwo","doi":"10.56201/ijebm.v9.no8.2023.pg47.55","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no8.2023.pg47.55","url":null,"abstract":"The aim of this study was to ascertain the extent of the relationship between new service concept and investor satisfaction of aviation firms in Rivers State. This study adopted causal research, involving cross sectional survey design and used structured copies of questionnaire. The population of this study comprised of eight (8) airlines registered with the Rivers State ministry of commerce and industry. 20 Copies of questionnaire was distributed to management staff in each of the airlines. The total number of respondents for the study was one hundred and sixty (160). The hypotheses were tested using Spearman Ranking Order Correlation with the aid of SPSS Version 21. The study unveiled a very strong relationship between new service concept and investor satisfaction. This study therefore concluded that increased investor satisfaction can be achieved if aviation firms in Rivers State provide new and innovative service concept.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":"143 4","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139848929","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}
Pub Date : 2024-02-09DOI: 10.56201/ijebm.v9.no8.2023.pg132.148
Mamman Andekujwo Baajon, M. I. Yakubu, Zechariah Wanujeh
This study examined the impact of health investment on economic development in Nigeria. Using secondary data sourced from Central Bank of Nigeria Statistical Bulletins and World Bank development indicators, World Bank Database for the period of 1981- 2020. It applied Augmented Dickey Fuller (ADF) and Philips-Perron (PP) tests for unit root which indicated that all the variables were stationary at first difference except gross fixed capital formation at level. The mixed order of the unit root tests necessitated the adoption of Autoregressive Distributed Lag (ARDL) bounds Cointegration technique. The study submitted that a strong evidence of cointegration among the variables exist. It prove that health investment variables (recurrent and capital health investment, public education expenditure, gross fixed capital formation and labour participation rate) have positive impacts on economic development in Nigeria except foreign exchange rate which reveals negative impact. The result of Pairwise Granger causality test indicated that there were uni-directional and bidirectional causality among health investment variables and economic development in Nigeria. Therefore, it concluded that health investment variables have positive and significant impacts on economic development in Nigeria except exchange rate. Moreover, this study recommended that health policy should be made by government to increase the budgetary allocation to health sector particularly on recurrent and capital public health investment, improve quality of education through statutory allocation to education sector, provide exchange rate policy that will encourage investment in human capital by individuals and private sector. Finally, the government should expand institutional capacity to produce qualified manpower, improve personnel salaries, wages and working conditions in health and education sectors
{"title":"Impact of Health Investment on Economic Development in Nigeria","authors":"Mamman Andekujwo Baajon, M. I. Yakubu, Zechariah Wanujeh","doi":"10.56201/ijebm.v9.no8.2023.pg132.148","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no8.2023.pg132.148","url":null,"abstract":"This study examined the impact of health investment on economic development in Nigeria. Using secondary data sourced from Central Bank of Nigeria Statistical Bulletins and World Bank development indicators, World Bank Database for the period of 1981- 2020. It applied Augmented Dickey Fuller (ADF) and Philips-Perron (PP) tests for unit root which indicated that all the variables were stationary at first difference except gross fixed capital formation at level. The mixed order of the unit root tests necessitated the adoption of Autoregressive Distributed Lag (ARDL) bounds Cointegration technique. The study submitted that a strong evidence of cointegration among the variables exist. It prove that health investment variables (recurrent and capital health investment, public education expenditure, gross fixed capital formation and labour participation rate) have positive impacts on economic development in Nigeria except foreign exchange rate which reveals negative impact. The result of Pairwise Granger causality test indicated that there were uni-directional and bidirectional causality among health investment variables and economic development in Nigeria. Therefore, it concluded that health investment variables have positive and significant impacts on economic development in Nigeria except exchange rate. Moreover, this study recommended that health policy should be made by government to increase the budgetary allocation to health sector particularly on recurrent and capital public health investment, improve quality of education through statutory allocation to education sector, provide exchange rate policy that will encourage investment in human capital by individuals and private sector. Finally, the government should expand institutional capacity to produce qualified manpower, improve personnel salaries, wages and working conditions in health and education sectors","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":"76 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":"139849252","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}
Pub Date : 2024-02-09DOI: 10.56201/ijebm.v9.no6.2023.pg1.11
Ezinne Chidinma Worga, S. Amadi
This study examined the effect of the balance of payments on macroeconomic performance in Nigeria between 1981 and 2021. The specific objectives are to determine the effects of current account balance, capital account, and external reserves on the gross domestic product (GDP) growth rate (the proxy of macroeconomic performance). This study employed secondary data sourced from the United Nations Conference on Trade and Development (UNCTAD), the Central Bank of Nigeria (CBN), and the database associated with Chinn and Ito. The study employed the augmented Dickey-Fuller method to examine the stationarity of the series and tested for cointegration among the variables using the bound test. The relationship between the balance of payments component and the gross domestic product growth rate was analysed using the autoregressive distributed lag (ARDL) method. The study confirmed the long-run relationship between components of the balance of payments and GDP growth. The ARDL shows that in the long run, current account balances had a positive and significant impact on GDP growth. The capital account proved not to be an effective policy for driving economic growth in the long run. It was found that external reserves had a positive and significant impact on GDP growth in the long run. Based on the findings, this study recommended a blend of export promotion policy and import substitution strategy to improve the balance of payments and create more opportunities for economic growth. Again, policymakers should focus on improving the financial depth and strengthening institutions, all of which support the liberalisation of the capital account and foster economic growth.
{"title":"Balance of Payments and Macroeconomic Performance in Nigeria","authors":"Ezinne Chidinma Worga, S. Amadi","doi":"10.56201/ijebm.v9.no6.2023.pg1.11","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no6.2023.pg1.11","url":null,"abstract":"This study examined the effect of the balance of payments on macroeconomic performance in Nigeria between 1981 and 2021. The specific objectives are to determine the effects of current account balance, capital account, and external reserves on the gross domestic product (GDP) growth rate (the proxy of macroeconomic performance). This study employed secondary data sourced from the United Nations Conference on Trade and Development (UNCTAD), the Central Bank of Nigeria (CBN), and the database associated with Chinn and Ito. The study employed the augmented Dickey-Fuller method to examine the stationarity of the series and tested for cointegration among the variables using the bound test. The relationship between the balance of payments component and the gross domestic product growth rate was analysed using the autoregressive distributed lag (ARDL) method. The study confirmed the long-run relationship between components of the balance of payments and GDP growth. The ARDL shows that in the long run, current account balances had a positive and significant impact on GDP growth. The capital account proved not to be an effective policy for driving economic growth in the long run. It was found that external reserves had a positive and significant impact on GDP growth in the long run. Based on the findings, this study recommended a blend of export promotion policy and import substitution strategy to improve the balance of payments and create more opportunities for economic growth. Again, policymakers should focus on improving the financial depth and strengthening institutions, all of which support the liberalisation of the capital account and foster economic growth.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":"21 3","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139849333","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}
Pub Date : 2024-02-09DOI: 10.56201/ijebm.v9.no2.2023.pg12.25
Anyadufu Anthony Onyeka, J. Orajekwe
The relationship between web based environmental disclosure and value of listed manufacturing firms in Nigeria was empirically examined. To determine the relationship between web based environmental disclosure (WED) and firm value, web based environment disclosure was measured using a dichotomous procedure adopted from GRI while firm value on the hand was proxy using price to book value (PBV). The study adopted Ex Post Facto Design and data were collected from the annual reports and accounts of listed manufacturing firms in Nigeria for the period ended; 2014-2021. The study used panel least square model as a statistical test tool. The findings of the study show that web based environmental disclosure (WED) has significant and positive effect on value (PBV) of listed manufacturing firms in Nigeria at 1% significant level. Thus, the study concludes that web based environmental disclosure ensures firms’ value in Nigeria. Based on this, the study recommended that corporate environmental resource recycling cost should be decreased for better environmental protection which ensures firms value.
{"title":"Web Based Environmental Disclosure and Firm Value: Empirical Evidence on Listed Manufacturing Firms in Nigeria","authors":"Anyadufu Anthony Onyeka, J. Orajekwe","doi":"10.56201/ijebm.v9.no2.2023.pg12.25","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no2.2023.pg12.25","url":null,"abstract":"The relationship between web based environmental disclosure and value of listed manufacturing firms in Nigeria was empirically examined. To determine the relationship between web based environmental disclosure (WED) and firm value, web based environment disclosure was measured using a dichotomous procedure adopted from GRI while firm value on the hand was proxy using price to book value (PBV). The study adopted Ex Post Facto Design and data were collected from the annual reports and accounts of listed manufacturing firms in Nigeria for the period ended; 2014-2021. The study used panel least square model as a statistical test tool. The findings of the study show that web based environmental disclosure (WED) has significant and positive effect on value (PBV) of listed manufacturing firms in Nigeria at 1% significant level. Thus, the study concludes that web based environmental disclosure ensures firms’ value in Nigeria. Based on this, the study recommended that corporate environmental resource recycling cost should be decreased for better environmental protection which ensures firms value.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":"48 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139849570","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}
Pub Date : 2024-02-09DOI: 10.56201/ijebm.v9.no8.2023.pg149.167
Odey Ferdinand Ite, Owan John, Odey Owan, Julie Njarani
The main objective of the study is to investigate the impact of exchange rate dynamics on agricultural sector performance in Nigeria. The study employed time series data obtained from the Central Bank of Nigeria statistical bulletin, World Development Indicators and National Bureau of Statistics. Agricultural sector performance was disaggregated into the overall agricultural, crop, livestock and fishery output. Autoregressive Distributive Lag (ARDL) and Generalized Autoregressive Conditional heteroskedasticity (GARCH) estimation techniques were used to establish the long run relationship among the variables, and the responsiveness of overall agricultural output, crop, livestock and fishery production to changes in exchange rate. It was revealed that long run relationship exists among the variables in all the estimated models. The result of the Error Correction Mechanism (ECM) within the framework of the ARDL shows that exchange rate has significant impact on agricultural sector performance. The GARCH results revealed that the responsiveness of aggregate agricultural output, crop, livestock and fishery production to changes in exchange rate is negative and statistically significant. This study concludes that the government must consciously direct policy actions towards the agricultural sector to achieve its full potentials in order to place the Nigerian economy on the path of self- sufficiency in agricultural production. The study recommends that; the government should implement appropriate exchange rate policy that will ensure sufficient crop production for both domestic consumption and exports. The movement in the market determined exchange rate should be strictly monitored by the apex bank, in order to ensure that the deregulation in exchange rate is not counterproductive through distortionary prices on agricultural production.
{"title":"Exchange Rate Dynamics and Agricultural Sector Performance Nexus: The Nigerian Experience","authors":"Odey Ferdinand Ite, Owan John, Odey Owan, Julie Njarani","doi":"10.56201/ijebm.v9.no8.2023.pg149.167","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no8.2023.pg149.167","url":null,"abstract":"The main objective of the study is to investigate the impact of exchange rate dynamics on agricultural sector performance in Nigeria. The study employed time series data obtained from the Central Bank of Nigeria statistical bulletin, World Development Indicators and National Bureau of Statistics. Agricultural sector performance was disaggregated into the overall agricultural, crop, livestock and fishery output. Autoregressive Distributive Lag (ARDL) and Generalized Autoregressive Conditional heteroskedasticity (GARCH) estimation techniques were used to establish the long run relationship among the variables, and the responsiveness of overall agricultural output, crop, livestock and fishery production to changes in exchange rate. It was revealed that long run relationship exists among the variables in all the estimated models. The result of the Error Correction Mechanism (ECM) within the framework of the ARDL shows that exchange rate has significant impact on agricultural sector performance. The GARCH results revealed that the responsiveness of aggregate agricultural output, crop, livestock and fishery production to changes in exchange rate is negative and statistically significant. This study concludes that the government must consciously direct policy actions towards the agricultural sector to achieve its full potentials in order to place the Nigerian economy on the path of self- sufficiency in agricultural production. The study recommends that; the government should implement appropriate exchange rate policy that will ensure sufficient crop production for both domestic consumption and exports. The movement in the market determined exchange rate should be strictly monitored by the apex bank, in order to ensure that the deregulation in exchange rate is not counterproductive through distortionary prices on agricultural production.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":"48 9","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139850292","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}
Pub Date : 2024-02-09DOI: 10.56201/ijebm.v9.no8.2023.pg66.69
B. Ibojo, Emmanuel Temitope Akinruwa, Ifeoluwa Bisola Owoeye
The need for adopting resource management became germane because of challenges such as poor capacity planning and utilization, inadequate skilled resources which impede organizational performance. This study therefore examined the relationship between resource management on organizational performance of selected Manufacturing industries in south west Nigeria. The specific objectives are to assess the relationship between material resource and organizational performance and to analyze the relationship between human resource and organizational performance .Ex-post facto research design was used for the study. The population consists of employees in 22 manufacturing industries listed in Nigerian Exchange Group between 2011-2020 dealing in Food and Beverages, Breweries, Health care/Pharmaceutical and Conglomerates. The sample size comprises eight manufacturing industries with 750 employees selected using stratified sampling technique. Data was drawn from primary source while descriptive statistics was used to explain the respondents’ characteristics and inferential statistics was used to analyze data collected. There is a significant positive relationship between material resources and organizational performance (R = 0.452**, N = 750, p < 0.01). Also it was found that there is significant positive relationship between human resources and organizational performance (R = 0.432**, N = 750, p <0.01). It was concluded that material resources and human resource increase organizational performance. Finally, it was shown that resource management is crucial for achieving organizational performance. Based on these findings it is recommended that management should put in place resource management policies that utilize inventory control, systems information gathering, that enhance product quality and improve performance.
{"title":"Relationship Between Resource Management and Organizational Performance of Selected Manufacturing Industries in South West Nigeria","authors":"B. Ibojo, Emmanuel Temitope Akinruwa, Ifeoluwa Bisola Owoeye","doi":"10.56201/ijebm.v9.no8.2023.pg66.69","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no8.2023.pg66.69","url":null,"abstract":"The need for adopting resource management became germane because of challenges such as poor capacity planning and utilization, inadequate skilled resources which impede organizational performance. This study therefore examined the relationship between resource management on organizational performance of selected Manufacturing industries in south west Nigeria. The specific objectives are to assess the relationship between material resource and organizational performance and to analyze the relationship between human resource and organizational performance .Ex-post facto research design was used for the study. The population consists of employees in 22 manufacturing industries listed in Nigerian Exchange Group between 2011-2020 dealing in Food and Beverages, Breweries, Health care/Pharmaceutical and Conglomerates. The sample size comprises eight manufacturing industries with 750 employees selected using stratified sampling technique. Data was drawn from primary source while descriptive statistics was used to explain the respondents’ characteristics and inferential statistics was used to analyze data collected. There is a significant positive relationship between material resources and organizational performance (R = 0.452**, N = 750, p < 0.01). Also it was found that there is significant positive relationship between human resources and organizational performance (R = 0.432**, N = 750, p <0.01). It was concluded that material resources and human resource increase organizational performance. Finally, it was shown that resource management is crucial for achieving organizational performance. Based on these findings it is recommended that management should put in place resource management policies that utilize inventory control, systems information gathering, that enhance product quality and improve performance.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":"4 1-2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139850542","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}
Pub Date : 2024-02-09DOI: 10.56201/ijebm.v9.no4.2023.pg75.96
Ogiriki Tonye, Mathew Gospel Erebi
The purpose of this study is to assess the determinants of audit fees among consumer goods companies publicly listed on the floor of the Nigerian Exchange Group (NGX). Secondary data of firm size, age and profitability (independent variables), and audit fee (dependent variable) from the chosen consumer goods firms in Nigeria's annual reports and accounts from 2012-2022. “Descriptive statistics (mean, median, standard deviation, skewness, kurtosis, and Karl Pearson correlation); diagnostic statistics (variance inflation factor, Breusch Pagan-Cook test for heteroskedasticity, Ramsey RESET test); and inferential statistics (Chi square test, Fisher's exact test, and t-test) were used to analyse the data;” and principal component analysis) and inferential statistics (ordinary least square). Generally, the results showed that firm size and profitability are the measure determinants of audit fees while firm age do not determines audit fees. It is therefore it was recommended that consumer goods companies need to enhance the size and profitability (return on assets).
{"title":"Determinants of Audit Fees in Nigerian Consumer Goods Sector","authors":"Ogiriki Tonye, Mathew Gospel Erebi","doi":"10.56201/ijebm.v9.no4.2023.pg75.96","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no4.2023.pg75.96","url":null,"abstract":"The purpose of this study is to assess the determinants of audit fees among consumer goods companies publicly listed on the floor of the Nigerian Exchange Group (NGX). Secondary data of firm size, age and profitability (independent variables), and audit fee (dependent variable) from the chosen consumer goods firms in Nigeria's annual reports and accounts from 2012-2022. “Descriptive statistics (mean, median, standard deviation, skewness, kurtosis, and Karl Pearson correlation); diagnostic statistics (variance inflation factor, Breusch Pagan-Cook test for heteroskedasticity, Ramsey RESET test); and inferential statistics (Chi square test, Fisher's exact test, and t-test) were used to analyse the data;” and principal component analysis) and inferential statistics (ordinary least square). Generally, the results showed that firm size and profitability are the measure determinants of audit fees while firm age do not determines audit fees. It is therefore it was recommended that consumer goods companies need to enhance the size and profitability (return on assets).","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":" 2","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139787898","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}
Pub Date : 2024-02-09DOI: 10.56201/ijebm.v9.no6.2023.pg67.78
Nwaeke O. Jackson
This study investigated the impact of domestic investment on economic growth in Nigeria from the period 1990 to 2022. The dimensions that were used to proxy the independent variable are domestic investment, total exports, interest rate and inflation while real gross domestic product was used to proxy economic growth which is the dependent variable. Data used were sourced from secondary sources which includes; World Bank development indicators for various years and the Central Bank of Nigeria annual statistical bulletin. The Statistical Software employed to analyse the data was the eviews9. The results of the Unit root test show that domestic investment, total exports, interest rate and real gross domestic variables evaluated are all stationary after first difference- I(1)- while inflation rate was stationary at level- I(0)-. The Autoregressive distributed lag was used to analyze data. The results of the Autoregressive distributed lag estimates reveal that in both the long run and short run, domestic investment, total exports, coefficients have positive impact on real gross domestic product in Nigeria and both are also statistically significant at five percent level of significance in the long-run in Nigeria. Since it was found that increase domestic investment and total exports bring about economic growth, the study therefore, recommends amongst others that appropriate trade policies in favour of export expansion should be encouraged. The federal government of Nigeria should make concerted effort towards export promotion policy by encouraging domestic investors to go into more production. In order to achieve this, there is need for the government to reduce interest rate and tax rate.
{"title":"Impact of Domestic Investment on Economic Growth in Nigeria","authors":"Nwaeke O. Jackson","doi":"10.56201/ijebm.v9.no6.2023.pg67.78","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no6.2023.pg67.78","url":null,"abstract":"This study investigated the impact of domestic investment on economic growth in Nigeria from the period 1990 to 2022. The dimensions that were used to proxy the independent variable are domestic investment, total exports, interest rate and inflation while real gross domestic product was used to proxy economic growth which is the dependent variable. Data used were sourced from secondary sources which includes; World Bank development indicators for various years and the Central Bank of Nigeria annual statistical bulletin. The Statistical Software employed to analyse the data was the eviews9. The results of the Unit root test show that domestic investment, total exports, interest rate and real gross domestic variables evaluated are all stationary after first difference- I(1)- while inflation rate was stationary at level- I(0)-. The Autoregressive distributed lag was used to analyze data. The results of the Autoregressive distributed lag estimates reveal that in both the long run and short run, domestic investment, total exports, coefficients have positive impact on real gross domestic product in Nigeria and both are also statistically significant at five percent level of significance in the long-run in Nigeria. Since it was found that increase domestic investment and total exports bring about economic growth, the study therefore, recommends amongst others that appropriate trade policies in favour of export expansion should be encouraged. The federal government of Nigeria should make concerted effort towards export promotion policy by encouraging domestic investors to go into more production. In order to achieve this, there is need for the government to reduce interest rate and tax rate.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":" 71","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139788075","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}
Pub Date : 2024-02-09DOI: 10.56201/ijebm.v9.no9.2023.pg110.121
B. Ibojo, M. E. Akinade
The study examined the impact of human resource development on employees’ performance from a theoretical perspective. The employee performance components identified are ability to meet deadlines, quality of work, teamwork, and problem solving. While the dimensions of human resource development identified are mentoring, training, performance appraisal, and compensation/benefits. The study notes that a well-coordinated and implemented HRD practices results to improved organizations productivity and individual employees’ performance. The study also notes that implementation of human resource development leads to improved organizational efficiency and development of innovative competitive advantages for organizations. The study concluded that human resource development programmes serves as a critical organizational strategy for improving employees’ effectiveness, productivity, satisfaction, motivation, and innovation at work. In addition, the implementation of effective human resources development programs helps to create the workforce competency that enables the organization to function efficiently. It is recommended that managements should make human resource development a serious aspect of their overall organizational strategy, and also support all activities put in place to develop the employees in order to ensure that employees develop the necessary competencies and capacity needed to drive organizational performance and survival. Furthermore, organizations should constantly train and retrain their employees and management to develop vital conceptual, technical and interpersonal competences that is vital for high positive outcomes in organizations. Organizations should devise effective plans in investing in the various aspect of human capital as this does not only help them to attain greater performance but achieve long-term survival.
{"title":"Human Resource Development and Employees Performance: A Theoretical Review","authors":"B. Ibojo, M. E. Akinade","doi":"10.56201/ijebm.v9.no9.2023.pg110.121","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no9.2023.pg110.121","url":null,"abstract":"The study examined the impact of human resource development on employees’ performance from a theoretical perspective. The employee performance components identified are ability to meet deadlines, quality of work, teamwork, and problem solving. While the dimensions of human resource development identified are mentoring, training, performance appraisal, and compensation/benefits. The study notes that a well-coordinated and implemented HRD practices results to improved organizations productivity and individual employees’ performance. The study also notes that implementation of human resource development leads to improved organizational efficiency and development of innovative competitive advantages for organizations. The study concluded that human resource development programmes serves as a critical organizational strategy for improving employees’ effectiveness, productivity, satisfaction, motivation, and innovation at work. In addition, the implementation of effective human resources development programs helps to create the workforce competency that enables the organization to function efficiently. It is recommended that managements should make human resource development a serious aspect of their overall organizational strategy, and also support all activities put in place to develop the employees in order to ensure that employees develop the necessary competencies and capacity needed to drive organizational performance and survival. Furthermore, organizations should constantly train and retrain their employees and management to develop vital conceptual, technical and interpersonal competences that is vital for high positive outcomes in organizations. Organizations should devise effective plans in investing in the various aspect of human capital as this does not only help them to attain greater performance but achieve long-term survival.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":" 19","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139788196","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}
Pub Date : 2024-02-09DOI: 10.56201/ijebm.v9.no4.2023.pg97.112
N. Nwaeze
The purpose of this research is to ascertain if inflow of FDI and external debt has significantly impacted the growth of the Nigerian economy from (1980-2017) using the ARDL-ECM framework. Data was extracted from the CBN Statistical Bulletin and WDI dataset of the World Bank. Results from the ARDL estimation output shows that foreign direct investment and external debt possessed a positive and significant effect on economic growth in Nigeria only in the short-run. On the other hand, results from the ARDL Bounds Test depicts an absence of a long-run relationship between foreign direct investment, external debt and economic growth in the case of Nigeria. The study recommended that borrowed funds acquired to finance capital and developmental projects should be properly channelled towards the actualisation and full implementation of such projects.
{"title":"Foreign Direct Investment, External Debt and Economic Growth Nexus: Evidence from Nigeria","authors":"N. Nwaeze","doi":"10.56201/ijebm.v9.no4.2023.pg97.112","DOIUrl":"https://doi.org/10.56201/ijebm.v9.no4.2023.pg97.112","url":null,"abstract":"The purpose of this research is to ascertain if inflow of FDI and external debt has significantly impacted the growth of the Nigerian economy from (1980-2017) using the ARDL-ECM framework. Data was extracted from the CBN Statistical Bulletin and WDI dataset of the World Bank. Results from the ARDL estimation output shows that foreign direct investment and external debt possessed a positive and significant effect on economic growth in Nigeria only in the short-run. On the other hand, results from the ARDL Bounds Test depicts an absence of a long-run relationship between foreign direct investment, external debt and economic growth in the case of Nigeria. The study recommended that borrowed funds acquired to finance capital and developmental projects should be properly channelled towards the actualisation and full implementation of such projects.","PeriodicalId":486962,"journal":{"name":"IIARD INTERNATIONAL JOURNAL OF ECONOMICS AND BUSINESS MANAGEMENT","volume":" 13","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-02-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139788972","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}
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