Corporate Governance and Debt Financing of Listed Manufacturing Firms in Nigeria (Published)
The study assessed the relationship between corporate governance and capital structure of listed manufacturing firms in Nigeria. The study employed secondary data covering a period of 10 years (2012 – 2021) with sample of 28 listed manufacturing firms. The study obtained annual reports of listed firms from their respective websites and Nigerian Stock Exchange (NSE) Factbook. The data were analysed using pool ordinary least squared and fixed effect model estimation. The findings revealed a significant relationship between the corporate governance and debt financing of the listed manufacturing firms in Nigeria. Specifically, results show that corporate governance variables such as the board size ((t = 2.120 p < 0.05), the board composition (t= 9.288, p < 0.05) and CEO duality (t =2.306, p< 0.005) had positive and significant effect on use of debt funding of listed manufacturing firms in Nigeria. The study concluded that the practice of corporate governance contributes and play significant role in finance decision and enhanced financial performance in Nigeria. Therefore, policy maker should ensure a combination of some mandatory minimum rules and flexibility above the minimum level that will ensure effective financing decision by manufacturing firms in Nigeria.
Keywords: Corporate Governance, Debt, Financing, Manufacturing, Nigeria
Effect of Market Information Dissemination and Financing Function of Channel Members On the Effective Marketing of Local Rice in Ebonyi State, Nigeria . (Published)
The effect information dissemination and financing functions of channel members in Ebonyi state has been assumed to be responsible for the retarding growth and reduced sustainability of rice production. Hence, the study seeks to find out the relationship between the channel members activities of market information dissemination and financing, and effective marketing of rice in Ebonyi State. Cross sectional survey design was adopted in the study on a total population size of 986 rice millers and rice traders from the two zoning block (Abakaliki and Afikpo) of the state. The Abakaliki block is made up of 285 registered rice millers and 340 rice traders. While the Afkipo block is made up of 156 registered rice millers and 205 rice traders. A sample size of 285 was obtained through the use of Taro Yamen Formular. The data collected through questionnaire was analysed with regression analysis and ANOVA analysis variance with the aid of statistical package for social science (SPSS) V.23. The findings revealed that (i) the activaties of market information dissemination by channel members reduces the irregularity of rice supply, create consumers’ awareness of new rice species, bridge time gab and package rice products results to effective marketing of rice, and (ii) the payment for rice products in advance and offering of soft loans to rice farmers without collateral helps to increase volume of local rice production in Ebonyi State. The implication of the findings shows that marketing channel members plays a vital role on the growth of rice production in the state and well the its exchange. The study recommends that state government should create favourable enabling environment for marketing channel members of rice in order achieve sustainability effective marketing of rice.
Keywords: Financing, Information Dissemination, Rice, channel members, effective marketing.