Digital Financial Inclusion and Small and Medium Enterprises (SMEs) Growth in Akure Metropolis, Ondo State (Published)
Ondo State has witnessed growth in digital financial inclusivity especially among the Small and Medium scale Enterprises (SMEs), therefore the need to determine whether the introduction of digital financial inclusion in the State has affected the growth of SMEs. The central objective of this study is therefore to assess the impact of digital financial inclusion on the growth of SMEs in Ondo State. In order to achieve this objective, the impact of digital financial accessibility, digital financial usage and digital financial service quality on sales growth, profit margin and customers’ growth were explored. In this study, a total of four hundred questionnaires were administered to the respondents who were SMEs owners/managers in Ondo State, the analysis was therefore conducted using 385 responses representing a response rate of 96.25%. The data collected were processed and analyzed using multiple linear regression through Statistical Package for Social Sciences (SPSS v 26). The findings indicate that firstly: both digital financial usage and digital finance service quality have positive and significant impact on sales growth but digital financial accessibility showed otherwise. Secondly, that both digital financial accessibility and digital financial service quality have positive and significant impact on profit margin while digital financial usage indicate otherwise. Lastly, while digital financial usage showed negative and insignificant impact on customers’ growth both digital financial accessibility and digital financial service quality have positive and significant impact on customers’ growth. This study concludes that the digital financial inclusion of SMEs has led to the growth of the SMEs in Ondo State. This study therefore recommends business policymakers in Ondo State to adopt a comprehensive policy for digital financial inclusion in order to help the SMEs to develop and grow faster especially those in the rural areas.
Keywords: Digital, Financial Inclusion, Growth, SMEs
Effect of Intellectual Capital on Financial Performance of Listed Agricultural Firms in Nigeria (Published)
Policy redirection has been supported as the way out of the display development challenges confronting the nation. The objective of the paper is to survey the effect of macroeconomic stuns on the development of Nigeria economy. The theory appears the whether macroeconomic stuns have critical effect on the Nigeria financial development. This think about embraced Akaike Data Model (AIC) to decide the ideal slack combination for the ARDL. The slack combination with the slightest esteem of the chosen basis among the competing slack orders is considered the ideal slack. Discoveries uncovered the impacts of monetary arrangement factors on financial development of Nigeria are found to be noteworthy both within the long run and brief run particularly the center financial approach factors like government expenditure and government income conjointly affirmed the defenselessness of the Nigerian economy to outside stuns. The paper concludes that out of the two major financial arrangement factors, government income has more critical relationship with Nigerian financial development. The development rate of Nigeria is more connected to government income than expenditure. Suggestion appears that Nigerian government ought to input approaches that will upgrade nearby yield, this will diminish the helplessness of the economy to outside stuns.
Keywords: Economy, Growth, Nigeria, macroeconomic shocks
Impact of Macroeconomic Shocks on the Growth of Nigeria Economy (Published)
Policy redirection has been supported as the way out of the display development challenges confronting the nation. The objective of the paper is to survey the effect of macroeconomic stuns on the development of Nigeria economy. The theory appears the whether macroeconomic stuns have critical effect on the Nigeria financial development. This think about embraced Akaike Data Model (AIC) to decide the ideal slack combination for the ARDL. The slack combination with the slightest esteem of the chosen basis among the competing slack orders is considered the ideal slack. Discoveries uncovered the impacts of monetary arrangement factors on financial development of Nigeria are found to be noteworthy both within the long run and brief run particularly the center financial approach factors like government expenditure and government income conjointly affirmed the defenselessness of the Nigerian economy to outside stuns. The paper concludes that out of the two major financial arrangement factors, government income has more critical relationship with Nigerian financial development. The development rate of Nigeria is more connected to government income than expenditure. Suggestion appears that Nigerian government ought to input approaches that will upgrade nearby yield, this will diminish the helplessness of the economy to outside stuns.
Keywords: Economy, Growth, Nigeria, macroeconomic shocks
Enhancing Effective Financial Planning Through a Robust Capacity Building Techniques for Entrepreneurial Growth in Nigeria (Published)
The study sets out to examine the extent to which capacity building creates awareness to the entrepreneurs in planning their business finance. It has been established that if the entrepreneurs are educational astute, they will take advantages of windows opening for them to tap. Expost-facto research design was applied in determining the population. The sample was obtained with the application of Taro Yamani principle. Ordinary least square technique was used in analyzing the data. Findings revealed that entrepreneurs are easily able to arrange their business finances when they acquire awareness through various techniques. It was concluded that a robust capacity building technique is sine-qua-non to entrepreneurial success in financial planning. It was recommended that the government and the private sector organizations should incorporate adequate skill training programmes for the benefit of small and medium scale business operators and that they in turn should develop passion to learn and apply the skills acquired to improve the ability in financial planning.
Keywords: Capacity building, Entrepreneurial success, Financial planning, Growth
Cost Information and Business Strategy: A Synergistic Approach of Ensuring Valid Business Decision and Growth (Published)
This paper examines cost information and business strategy as a synergistic approach of ensuring valid business decision and growth. This was hinged on the premise that cost accounting information is one of the enduring tools of management for planning, decision making and control. If this information is wrongly applied, it can jeopardize the revenue aspect of the business and by extension the overall performance of the entity. To this end, the ex-post facto and descriptive research designs were adopted to elicit information from respondents. The paper adopted the ordinary least square analytical technique for data analysis. Findings revealed that inadequate cost information, obsolete costing techniques and ineffective corporate governance mechanisms impact on organizational performance. Indeed, it was recommended that corporate entities should place more priority on cost information, modern costing techniques and effective corporate governance to facilitate growth especially in all sectors of human endeavors.
Keywords: Business Strategy, Corporate Governance, Cost Information, Growth
The Effect of Information Technology on Growth of Micro-Insurance Business: A Survey of Commercial Insurance Companies in Kenya (Published)
The micro-insurance business has a huge potential for growth in Kenya, which is typically a micro-insurance market. However, the country’s paltry growth in overall insurance penetration from 2.54% in 2006 to 3.0% in 2010 is not attributable to emerging business areas such as micro-insurance, but to the traditional insurance product lines. Information technology can be leveraged to increase micro-insurance penetration. This study examined the influence of information technology on the growth of micro-insurance business in Kenya. A survey of commercial insurance companies was conducted to provide an understanding of the effect of information technology as a driver of micro-insurance growth. The findings revealed a high positive significant correlation between information technology and growth of micro-insurance. The implication is that sustainable growth of micro-insurance business among the low-income Kenyan population can be greatly enhanced by leveraging the benefits of information technology. Therefore micro-insurance service providers should embrace information technology systems as a strategic action in order to tap into the ripe micro-insurance client base.
Keywords: Growth, Information Technology, Micro-insurance
EMPIRICAL ANALYSIS OF MULTINATIONAL CORPORATIONS AND ECONOMIC GROWTH IN NIGERIA (1990-2013). (Review Completed - Accepted)
The paper attempts to evaluate the relationship between empirical analysis of multinational corporations and economic growth in Nigeria using data spanning (1990-2013). Secondary data was collected from the CBN statistical bulletin and national bureau of statistics. Hypotheses were formulated and tested using time series econometrics and the study reveals that the variables do not have unit roots. There is also long-run equilibrium relationship between economic growth and multinational corporations and the result confirms that about 73% short-run adjustment speed from long-run disequilibrium. The coefficient of determination indicates that about 62% of the variations in economic growth is explained by changes in multinational corporations variables. The study therefore recommends that multinational corporations should make life meaningful to the host country by providing infrastructural facilities. Government should ensure that multinational corporations plough back part of their profits to the development of the host communities in other to established good working relationship. Federal environmental protection agencies should also ensure effective monitoring of multinational corporations to avoid the violation of the lay down rules and regulations guiding their operations.
Keywords: Economic, Empirical Analysis, Growth, Multinational Corporations, Nigeria