This study aims to explore the effect of the Yuan-Naira and Dollar-Naira exchange rates on economic growth in Nigeria. The study covers the period 2010Q1–2021Q4 quarterly data. Using the Vector Autoregressive method, the study finds the following: (1) inn
{"title":"Effects of Yuan to Naira and Dollar to Naira Exchange Rates on Economic Growth in Nigeria","authors":"Isiaq Olasunkanmi Oseni, Olayinka Esther Atoyebi, Rasak Adetunji Adefabi, Emeka Okoro Akpa","doi":"10.51865/eitc.2023.02.07","DOIUrl":"https://doi.org/10.51865/eitc.2023.02.07","url":null,"abstract":"This study aims to explore the effect of the Yuan-Naira and Dollar-Naira exchange rates on economic growth in Nigeria. The study covers the period 2010Q1–2021Q4 quarterly data. Using the Vector Autoregressive method, the study finds the following: (1) inn","PeriodicalId":55648,"journal":{"name":"Economic Insights Trends and Challenges","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135799798","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 : 2023-01-01DOI: 10.51865/eitc.2023.03.02
Vasili Vasilije Ostojić
"A large number of studies have been conducted examining certain aspects of the financial situation of agricultural enterprises in the Republic of Serbia. However, the overall situation of these companies has rarely been the subject of analysis in previous studies. Therefore, this paper represents an attempt to comprehensively assess the financial conditions of large and medium-sized agricultural enterprises in the Republic of Serbia. Three models (Emerging market scoring, DF Indicator and G-Index) were used to analyse the key areas of financial security (liquidity and debt) and business success of 38 agricultural enterprises in the period from 2017 to 2021. By classifying the total values recorded into zones of financial health, an assessment of their overall position was made. The companies studied at the group level showed a satisfactory financial situation, due to favourable performance in individual cases, while the majority of enterprises were at risk in all business dimensions studied, with the exception of debt. During the analysis period, most of the companies under review recorded low liquidity, which was often accompanied by low profitability. The results of this work provide an insight into the key specifics of the activity of agricultural companies from the point of view of financial analysis and, in this sense, represent an important additional tool in the process of their management, but also contribute to creating an adequate basis for comparison with other business activities in the Republic of Serbia. "
{"title":"Assessing Corporate Financial Health. Evidence from the Agricultural Sector in the Republic of Serbia","authors":"Vasili Vasilije Ostojić","doi":"10.51865/eitc.2023.03.02","DOIUrl":"https://doi.org/10.51865/eitc.2023.03.02","url":null,"abstract":"\"A large number of studies have been conducted examining certain aspects of the financial situation of agricultural enterprises in the Republic of Serbia. However, the overall situation of these companies has rarely been the subject of analysis in previous studies. Therefore, this paper represents an attempt to comprehensively assess the financial conditions of large and medium-sized agricultural enterprises in the Republic of Serbia. Three models (Emerging market scoring, DF Indicator and G-Index) were used to analyse the key areas of financial security (liquidity and debt) and business success of 38 agricultural enterprises in the period from 2017 to 2021. By classifying the total values recorded into zones of financial health, an assessment of their overall position was made. The companies studied at the group level showed a satisfactory financial situation, due to favourable performance in individual cases, while the majority of enterprises were at risk in all business dimensions studied, with the exception of debt. During the analysis period, most of the companies under review recorded low liquidity, which was often accompanied by low profitability. The results of this work provide an insight into the key specifics of the activity of agricultural companies from the point of view of financial analysis and, in this sense, represent an important additional tool in the process of their management, but also contribute to creating an adequate basis for comparison with other business activities in the Republic of Serbia. \"","PeriodicalId":55648,"journal":{"name":"Economic Insights Trends and Challenges","volume":"19 3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134891021","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 : 2023-01-01DOI: 10.51865/eitc.2022.03.07
W. Okere, Oluwatobi Rufai, Victor Olorunkunle
{"title":"Annual Report Readability and Agency Cost in Listed Deposit Money Banks in Nigeria","authors":"W. Okere, Oluwatobi Rufai, Victor Olorunkunle","doi":"10.51865/eitc.2022.03.07","DOIUrl":"https://doi.org/10.51865/eitc.2022.03.07","url":null,"abstract":"","PeriodicalId":55648,"journal":{"name":"Economic Insights Trends and Challenges","volume":"45 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85887672","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 : 2023-01-01DOI: 10.51865/eitc.2022.04.05
David Dzidzikashvili, Maia Kheladze
"This paper represents an attempt at a thorough analysis of the complexity of blockchain technology & cryptocurrencies while reviewing the core aspects of the development stages that this growing market has undergone and where it may lead. Additionally, we provide a review of current obstacles and advantages for wider adoption of such disruptive tech in banking & fintech industries for its potential for fast, cheap and secure transactions and mass utilization prospective. Considering such benefits and advantages, we have to ask the question of whether there is a need for the middleman transaction participants in the future digital economy. In order for this innovative and disruptive tech to become truly global, we need to go through four phases of development presented in the development matrix. Using various examples, our analysis puts the blockchain tech & crypto at the current second development phase. The main obstacle to move from the second to the third, and subsequently, the fourth and final phase remains the absence of unified legal framework and regulations in key global economies such as the United States and the European Union. Once the legal foundation is established by the G20 economies, regulating cryptocurrency use, trading and taxation, the transition to this final phase should be rapid, and will be followed by mass adoption, with more than a quarter global population fully utilizing and enjoying the benefits of blockchain tech innovation and cryptocurrencies."
{"title":"The Future of Blockchain Tech in Transactional Business","authors":"David Dzidzikashvili, Maia Kheladze","doi":"10.51865/eitc.2022.04.05","DOIUrl":"https://doi.org/10.51865/eitc.2022.04.05","url":null,"abstract":"\"This paper represents an attempt at a thorough analysis of the complexity of blockchain technology & cryptocurrencies while reviewing the core aspects of the development stages that this growing market has undergone and where it may lead. Additionally, we provide a review of current obstacles and advantages for wider adoption of such disruptive tech in banking & fintech industries for its potential for fast, cheap and secure transactions and mass utilization prospective. Considering such benefits and advantages, we have to ask the question of whether there is a need for the middleman transaction participants in the future digital economy. In order for this innovative and disruptive tech to become truly global, we need to go through four phases of development presented in the development matrix. Using various examples, our analysis puts the blockchain tech & crypto at the current second development phase. The main obstacle to move from the second to the third, and subsequently, the fourth and final phase remains the absence of unified legal framework and regulations in key global economies such as the United States and the European Union. Once the legal foundation is established by the G20 economies, regulating cryptocurrency use, trading and taxation, the transition to this final phase should be rapid, and will be followed by mass adoption, with more than a quarter global population fully utilizing and enjoying the benefits of blockchain tech innovation and cryptocurrencies.\"","PeriodicalId":55648,"journal":{"name":"Economic Insights Trends and Challenges","volume":"10 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85992778","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 : 2023-01-01DOI: 10.51865/eitc.2022.04.02
I. A. Onikoyi, A. Olagunju, B. Babatunde, E. Ajayi, J. A. Odumeru
"Most authors agree that Human Resources is the most crucial input to any organisation. As such, scholars generally believe that Human Resource Management (HRM) practices positively impact firm performance. This belief persists because positive HRM practices strengthen competence, motivation, commitment and other employee outcomes leading to improved organisational performance. However, limited empirical evidence connects HRM practices to employee outcomes. This study investigated the impact of HRM practices on competence, commitment, job satisfaction, motivation, Cooperation with management, Cooperation with co-workers, employee presence and Compliance in the manufacturing sub-sector of South–Western Nigeria. To this end, the study adopted a cross-sectional survey research design which involved the collection of data from 381 middle-level managers of manufacturing companies in Lagos, Nigeria, selected using stratified and random sampling techniques. A Structural Equation Model (SEM) was used to analyse the data. Results show that HRM practices determine and predict components of employee outcomes. In other words, recruitment and selection, training and development, performance appraisal, compensation management, occupational health and safety, and career growth and development all determine competence, commitment, job satisfaction, motivation, Cooperation with management, Cooperation with co-workers, and Presence and Compliance all in varying degrees. The study justified investment in HRM and recommended a bundled approach to applying HRM practice."
{"title":"Impact of Human Resource Management Practices on Employees' Behavioural Outcomes in the Manufacturing Sub-Sector of South-West Nigeria","authors":"I. A. Onikoyi, A. Olagunju, B. Babatunde, E. Ajayi, J. A. Odumeru","doi":"10.51865/eitc.2022.04.02","DOIUrl":"https://doi.org/10.51865/eitc.2022.04.02","url":null,"abstract":"\"Most authors agree that Human Resources is the most crucial input to any organisation. As such, scholars generally believe that Human Resource Management (HRM) practices positively impact firm performance. This belief persists because positive HRM practices strengthen competence, motivation, commitment and other employee outcomes leading to improved organisational performance. However, limited empirical evidence connects HRM practices to employee outcomes. This study investigated the impact of HRM practices on competence, commitment, job satisfaction, motivation, Cooperation with management, Cooperation with co-workers, employee presence and Compliance in the manufacturing sub-sector of South–Western Nigeria. To this end, the study adopted a cross-sectional survey research design which involved the collection of data from 381 middle-level managers of manufacturing companies in Lagos, Nigeria, selected using stratified and random sampling techniques. A Structural Equation Model (SEM) was used to analyse the data. Results show that HRM practices determine and predict components of employee outcomes. In other words, recruitment and selection, training and development, performance appraisal, compensation management, occupational health and safety, and career growth and development all determine competence, commitment, job satisfaction, motivation, Cooperation with management, Cooperation with co-workers, and Presence and Compliance all in varying degrees. The study justified investment in HRM and recommended a bundled approach to applying HRM practice.\"","PeriodicalId":55648,"journal":{"name":"Economic Insights Trends and Challenges","volume":"52 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78940803","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 : 2023-01-01DOI: 10.51865/eitc.2023.03.03
Mohamed Samba Barrie
"Prophet is an advanced machine learning tool designed for accurate time series forecasting. Utilizing a Bayesian additive regression model, it employs statistical techniques to analyze historical data and capture underlying patterns, trends, seasonality, and holiday effects. With its ability to handle uncertainties, anomalies, missing data, outliers, and changes in trends or seasonality, Prophet is a versatile solution for both univariate and multivariate time series analyses. In the context of the Sierra Leone currency market, our analysis using Prophet reveals valuable insights into the nominal exchange rates between the Leones and the dollar. On an annual basis, there is an observed upward trend in the nominal exchange rates. Weekly patterns indicate that the Leones tends to experience a slight depreciation on Tuesdays, while showing marginal stabilization or appreciation on Fridays. Additionally, the model highlights a tendency for marginal appreciation in the Leones from April to June, with a slight depreciation around September to October. These findings provide crucial information for risk management, economic planning, and decision-making in the Sierra Leone currency market. By understanding the identified trends in the Leones dollar exchange rates, stakeholders can make informed decisions regarding investments, currency trading, and overall economic strategies. This knowledge contributes to improving investor confidence and enables effective measures for mitigating risks. In summary, Prophet's Bayesian-based forecasting model offers probabilistic insights into future predictions, empowering decision-makers with accurate forecasts and valuable knowledge for strategic planning and risk management. "
{"title":"A Machine Learning Predictive Model for Determining Daily Exchange Rate Movement in Sierra Leone","authors":"Mohamed Samba Barrie","doi":"10.51865/eitc.2023.03.03","DOIUrl":"https://doi.org/10.51865/eitc.2023.03.03","url":null,"abstract":"\"Prophet is an advanced machine learning tool designed for accurate time series forecasting. Utilizing a Bayesian additive regression model, it employs statistical techniques to analyze historical data and capture underlying patterns, trends, seasonality, and holiday effects. With its ability to handle uncertainties, anomalies, missing data, outliers, and changes in trends or seasonality, Prophet is a versatile solution for both univariate and multivariate time series analyses. In the context of the Sierra Leone currency market, our analysis using Prophet reveals valuable insights into the nominal exchange rates between the Leones and the dollar. On an annual basis, there is an observed upward trend in the nominal exchange rates. Weekly patterns indicate that the Leones tends to experience a slight depreciation on Tuesdays, while showing marginal stabilization or appreciation on Fridays. Additionally, the model highlights a tendency for marginal appreciation in the Leones from April to June, with a slight depreciation around September to October. These findings provide crucial information for risk management, economic planning, and decision-making in the Sierra Leone currency market. By understanding the identified trends in the Leones dollar exchange rates, stakeholders can make informed decisions regarding investments, currency trading, and overall economic strategies. This knowledge contributes to improving investor confidence and enables effective measures for mitigating risks. In summary, Prophet's Bayesian-based forecasting model offers probabilistic insights into future predictions, empowering decision-makers with accurate forecasts and valuable knowledge for strategic planning and risk management. \"","PeriodicalId":55648,"journal":{"name":"Economic Insights Trends and Challenges","volume":"30 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134891014","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 : 2023-01-01DOI: 10.51865/eitc.2023.01.03
Parashqevi Draçi, Gentiana Kraja
This study aims to examine the support of the community in the area of Saranda and Ksamil for sustainable tourism, as one of the most important industries on which the growth of its well-being is based. The reasoning focuses on the sociological tradition
{"title":"Community Support for Sustainable Tourism Strategies is an Important Factor in its Successful Development","authors":"Parashqevi Draçi, Gentiana Kraja","doi":"10.51865/eitc.2023.01.03","DOIUrl":"https://doi.org/10.51865/eitc.2023.01.03","url":null,"abstract":"This study aims to examine the support of the community in the area of Saranda and Ksamil for sustainable tourism, as one of the most important industries on which the growth of its well-being is based. The reasoning focuses on the sociological tradition","PeriodicalId":55648,"journal":{"name":"Economic Insights Trends and Challenges","volume":"12 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88837087","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 : 2023-01-01DOI: 10.51865/eitc.2022.04.07
M. Barrie, Mohamed Alie Bah
"In order to analyse the macroeconomic effects of changes in the marginal tax rate on cyclical fluctuations in Sierra Leone, we created a DSGE model that evaluates the macroeconomic impact of three tax instruments (i.e., consumption, income, and capital). The model is calibrated with parameter values that reflect the peculiarities and representative tax structure of the Sierra Leone economy. We found that; a 5% increase in consumption tax rate causes a distortionary effect on output, consumption, and investment (in the short-run), while in the long-run output contract by 3.1%, with a permanent decline in consumption and investment. Whilst, fiscal revenues increase in the dynamic short run, 15%, higher than it previous steady-state value. On the other hand, a simulation of a 5% reduction in consumption tax, labour income tax, and capital income tax from the current rates shows a positive impact on consumption and investment as such output grows permanently by 8.45%, but fiscal revenues decrease marginally by 1.7%. The key point in the analysis is that in Sierra Leone tax changes have distortionary effects on the decisions of individuals and firms, affecting output, investment, consumption, and fiscal revenues. As such tax policy can alter economic behaviour in profound ways. We observed that fluctuations in tax rates produce large substitution effects that alter investment & consumption decisions and have distortionary effect on the behaviour of economic agents. The results suggest that the authorities should synchronize policies to manage the trade-off between the desire for more welfare gains, output growth, and the need for more fiscal revenue mobilization."
{"title":"Simulating Tax Effects on Economic Activities in Sierra Leone: A DSGE Framework","authors":"M. Barrie, Mohamed Alie Bah","doi":"10.51865/eitc.2022.04.07","DOIUrl":"https://doi.org/10.51865/eitc.2022.04.07","url":null,"abstract":"\"In order to analyse the macroeconomic effects of changes in the marginal tax rate on cyclical fluctuations in Sierra Leone, we created a DSGE model that evaluates the macroeconomic impact of three tax instruments (i.e., consumption, income, and capital). The model is calibrated with parameter values that reflect the peculiarities and representative tax structure of the Sierra Leone economy. We found that; a 5% increase in consumption tax rate causes a distortionary effect on output, consumption, and investment (in the short-run), while in the long-run output contract by 3.1%, with a permanent decline in consumption and investment. Whilst, fiscal revenues increase in the dynamic short run, 15%, higher than it previous steady-state value. On the other hand, a simulation of a 5% reduction in consumption tax, labour income tax, and capital income tax from the current rates shows a positive impact on consumption and investment as such output grows permanently by 8.45%, but fiscal revenues decrease marginally by 1.7%. The key point in the analysis is that in Sierra Leone tax changes have distortionary effects on the decisions of individuals and firms, affecting output, investment, consumption, and fiscal revenues. As such tax policy can alter economic behaviour in profound ways. We observed that fluctuations in tax rates produce large substitution effects that alter investment & consumption decisions and have distortionary effect on the behaviour of economic agents. The results suggest that the authorities should synchronize policies to manage the trade-off between the desire for more welfare gains, output growth, and the need for more fiscal revenue mobilization.\"","PeriodicalId":55648,"journal":{"name":"Economic Insights Trends and Challenges","volume":"43 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87510881","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 : 2023-01-01DOI: 10.51865/eitc.2023.02.01
Emmanuel Ifeanyi Ajudua
This paper set out to empirically evaluate the impact of deposit money banks’ credit on the performance of Nigerian economic growth. Data covering 1986 to 2020 were collected from secondary sources and unit root test, cointegration test and the ECM method
{"title":"Deposit Money Bank Credit and the Nigerian Economic Growth: An Empirical Analysis","authors":"Emmanuel Ifeanyi Ajudua","doi":"10.51865/eitc.2023.02.01","DOIUrl":"https://doi.org/10.51865/eitc.2023.02.01","url":null,"abstract":"This paper set out to empirically evaluate the impact of deposit money banks’ credit on the performance of Nigerian economic growth. Data covering 1986 to 2020 were collected from secondary sources and unit root test, cointegration test and the ECM method","PeriodicalId":55648,"journal":{"name":"Economic Insights Trends and Challenges","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135799800","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 : 2023-01-01DOI: 10.51865/eitc.2023.03.04
Akeem Ayofe Akinwale
"Many organisations depend on the services of outsourced employees to meet their needs at relatively low costs but this practice has exposed outsourced employees to discrimination and setbacks in the areas of career development. The use of outsourced employees to carry out some functions is a common practice in the banking industry and some other industries in Nigeria. This article therefore examined career development opportunities for outsourced employees in selected banks in Nigeria, from the perspectives of work adjustment and equity theories. This article was based on a cross-sectional research design including secondary and primary data. The secondary data were derived from a systematic review of the literature, while the primary data were obtained via a structured questionnaire, which was filled and returned by 336 outsourced employees in selected banks in Lagos State. The primary data were subjected to descriptive and inferential statistics, including frequency distribution and multiple regression. The findings revealed that 95.1 % of the respondents confirmed lack of equal benefits for all employees in the banks. Moreover, 95.1 % and 90.3 % confirmed their access to on-the-job learning and on-the job training. However, 82.5 % of the respondents confirmed their lack of access to career development training. Also, 77.7 % of the respondents confirmed lack of opportunities for promotion of contract staff in the selected banks. Involvement in outsourced employment significantly affected career development opportunities for outsourced employees in selected banks. Many outsourced employees are yet to achieve their aspirations for career development in the banking industry in Nigeria."
{"title":"Career Development Opportunities for Outsourced Employees in Selected Banks in Nigeria","authors":"Akeem Ayofe Akinwale","doi":"10.51865/eitc.2023.03.04","DOIUrl":"https://doi.org/10.51865/eitc.2023.03.04","url":null,"abstract":"\"Many organisations depend on the services of outsourced employees to meet their needs at relatively low costs but this practice has exposed outsourced employees to discrimination and setbacks in the areas of career development. The use of outsourced employees to carry out some functions is a common practice in the banking industry and some other industries in Nigeria. This article therefore examined career development opportunities for outsourced employees in selected banks in Nigeria, from the perspectives of work adjustment and equity theories. This article was based on a cross-sectional research design including secondary and primary data. The secondary data were derived from a systematic review of the literature, while the primary data were obtained via a structured questionnaire, which was filled and returned by 336 outsourced employees in selected banks in Lagos State. The primary data were subjected to descriptive and inferential statistics, including frequency distribution and multiple regression. The findings revealed that 95.1 % of the respondents confirmed lack of equal benefits for all employees in the banks. Moreover, 95.1 % and 90.3 % confirmed their access to on-the-job learning and on-the job training. However, 82.5 % of the respondents confirmed their lack of access to career development training. Also, 77.7 % of the respondents confirmed lack of opportunities for promotion of contract staff in the selected banks. Involvement in outsourced employment significantly affected career development opportunities for outsourced employees in selected banks. Many outsourced employees are yet to achieve their aspirations for career development in the banking industry in Nigeria.\"","PeriodicalId":55648,"journal":{"name":"Economic Insights Trends and Challenges","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134891204","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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