The Moderating Effect of Income on the Predictors of Cassava Farmers’ Adoption of Agricultural Technology in Nigeria: A Conceptual Framework (Published)
This study endeavors to construct a comprehensive conceptual framework elucidating the moderating influence of income on factors influencing the adoption of agricultural technology among cassava farmers in Nigeria. Agricultural technology, herein, refers to the innovative utilization of emerging Information and Communication Technologies tailored for agricultural applications within remote environments. The agricultural sector holds paramount significance within the Nigerian economy, engaging nearly 70% of the labor force and contributing over 40% to the gross domestic product. The adoption of technology in agriculture signifies potential enhancements in income, poverty alleviation, improved national nutrition and health, reduced food prices, and employment opportunities. However, the income of cassava farmers plays a pivotal role in ensuring their sustainability. Regrettably, their income streams are often unstable due to fluctuations in market prices, adversely impacting their ability to finance the adoption of technology to bolster productivity. Therefore, this research aims to develop a robust conceptual framework delineating the moderating role of income on the determinants of agricultural technology adoption behavior, particularly pertinent within the Nigerian context. It is imperative to tailor conceptual frameworks specifically for Nigeria, given that frameworks derived from other regions may not be directly applicable to the unique challenges and dynamics of the Nigerian agricultural landscape.
Keywords: Income, Nigeria, agricultural technology adoption, cassava farmers, conceptual framework, moderation effect
Cash Flow Ratios and Business Failure of Healthcare Firms in Nigeria (Published)
The study examined cash flow ratios as predictors of business failure of healthcare firms in Nigeria. The objectives of the study were to ascertain the effect of operating cash flow ratio, cash flow to debt ratio, and price to cash flow ratio on Altman’s zeta score of healthcare firms in Nigeria. The study adopted ex-post-facto research design, covering a period of 10 years (from 2013 to 2022). Secondary data used for the study were extracted from annual reports and accounts of selected healthcare firms listed on the Nigeria Exchange Group (NGX) from 2013 to 2022. Multiple regression technique was used to test the hypotheses. The result of the test of hypotheses revealed that the operating cash flow ratio has a statistically non-significant negative effect on the Altman z-score of healthcare firms in Nigeria (p-value = 0.3397). The finding also indicates that the cash flow to debt ratio has a statistically non-significant negative effect on the Altman z-score of healthcare firms in Nigeria (p-value = 0.2937). Lastly, the finding reveals that the price to cash flow ratio has a non-significant positive effect on the Altman z-score of healthcare firms in Nigeria (p-value = 0.5281). The policy implications of these findings suggest that when assessing the financial health and bankruptcy risk of healthcare firms in Nigeria, policymakers and regulators should consider factors beyond cash flow ratios. It was recommended therefore that healthcare firms in Nigeria should diversify their sources of cash flow beyond operating cash flow to improve financial stability and mitigate bankruptcy risk. Healthcare firms should have a careful evaluation of debt management practices is necessary to maintain a healthy balance between cash flow generation and debt obligations in healthcare firms. Market sentiment reflected in the price to cash flow ratio should not be relied upon as the sole indicator of financial stability. Healthcare firms should prioritize fundamental financial and operational indicators to assess their financial health and mitigate bankruptcy risk.
Keywords: Altman’s zeta score, Nigeria, business failure, cash flow ratios, cash flow to debt ratio, healthcare firms, operating cash flow ratio, price to cash flow ratio
Herding Bias and Financial Risk Tolerance On Individual Investment Performance in Nigeria: Moderated by Financial Literacy (Published)
Prior studies have shown that various individuals’ behavioral traits such as herding bias and risk tolerance have an unfavorable effect on investors’ decision-making. This paper examined the moderating role of financial literacy on herding bias and financial risk tolerance on individual investment performance in Nigeria. The population consisted of 460 active individual investors in Kaduna city as at the first quarter of 2023. A total of 460 copies of questionnaires were distributed, with 349 valid. A census method of sampling was used, and primary data was collected using a self-administered questionnaire and an online Google form. A 7-point Likert scale that ranged from ‘1’ “Extremely Agree” to ‘7’ “Extremely Disagree” was used. Smart-PLS version 4 was used to analyze the data. The study discovered that the herding bias has a positive and significant effect on investment performance, whereas financial risk tolerance has an insignificant negative effect on investment performance. Financial literacy has a positive but insignificant impact on investment performance. Furthermore, the moderating effect of financial literacy demonstrated that the herding bias has a significant and positive impact on investment performance. Risk tolerance has a significant negative influence on investment performance. This study concluded that herding bias helps investors make better investment decisions, Consequently, the study recommends that investors should reduce their risk tolerance levels while maintaining the herding behavioral bias.
Keywords: Financial literacy, Nigeria, financial risk tolerance, herding bias, individual investment performance
The Role of Emotional Intelligence in Effective Leadership and Its Impact on Team Performance: A Study of the University of Ibadan, Nigeria (Published)
This study aimed to investigate the impact of emotional intelligence on leadership effectiveness in the University of Ibadan, Nigeria. The emotional intelligence model used in this study consisted of four sub-variables: self-emotion appraisal, others emotion appraisal, regulation of emotions, and use of emotions. The study found that emotional intelligence has a strong positive and significant relationship with leadership effectiveness. The results of the regression analysis showed that emotional intelligence positively relates to leadership effectiveness. The study concluded that emotional intelligence is an indicator of leadership effectiveness, and employees in the University of Ibadan, Nigeria are emotionally intelligent. Self-emotion appraisal and use of emotion were the most emotional intelligence factors impacting leadership effectiveness in the organization. On the other hand, emotion regulation seemed to be difficult to control, thus it’s the least factor in affecting leaders’ effectiveness. The findings further show that use of emotion accounts for more of the variance in leadership effectiveness.
Keywords: Emotional Intelligence, Nigeria, University of Ibadan, effective leadership, team performance
Impact of Employee Engagement On Service Quality in Nigerian Public Agencies (Published)
This study investigates the connection between employee engagement and service quality in the Asset Management Company of Nigeria (AMCON), which is a key player in Nigeria’s financial sector. This study examines three key dimensions of employee engagement – absorption, vigor, and dedication – and their effects on service quality, specifically focusing on the responsiveness dimension of the SERVQUAL model. This study is important because there is a lack of representation of AMCON and similar institutions in the existing literature, particularly within the context of Nigeria’s unique financial landscape. This study utilized a mixed-methods approach that included quantitative surveys and qualitative interviews with AMCON employees. The analysis employed the SERVQUAL model to evaluate service quality and multiple regression analysis to explore the influence of each engagement dimension. The findings of this study are expected to contribute to a theoretical understanding of the impact of employee engagement on service quality within the asset management sector. Additionally, this study aims to provide practical insights for AMCON, potentially improving service delivery strategies and effectiveness in fulfilling its mandate. The broader implications of this study extend to similar asset management entities in emerging economies, providing a comparative perspective, and understanding of these dynamics in diverse economic and regulatory environments.
Keywords: Employee Engagement, Nigeria, Responsiveness, SERVQUAL-model., Service Quality, absorption, asset management company, dedication, vigor
Effect 0f Deficit Budget Financing Sources on Inflation Rate in Nigeria (Published)
The study examined the effect of deficit budget financing sources on inflation rate in Nigeria. External debt, Ways and Means Advances, and Treasury Bills were the independent variables of the study, while inflation rate was the dependent variable. The study adopted an ex-post-facto research design, covering the period between 2011 and 2020. Secondary data were extracted from the Central Bank of Nigeria Statistical Bulletin. Ordinary Least Square multiple regression technique was used for the data analysis. In line with the specific objectives of the study which is to ascertain the effect of external debt, ways and means advances, and treasury bills on inflation rate in Nigeria, it was revealed that external debt and treasury bills have a significant effect on inflation rate in Nigeria. Ways and means advances have a positive and significant effect on inflation rate in Nigeria. This implies that among the explanatory variables, ways and means advances is the major determinant of inflation rate in Nigeria. The study recommended therefore that government policies on inflation rate should factor in external debts because of their negative effect on inflation rate. external borrowing should be prudently used in productive activities that can raise investments, reduced inflation and improve the country’s exchange rate. The Government should drastically reduce the rate they borrow from CBN. Any of such borrowing should be targeted towards developing the economy and they should always maintain the credit limit set by the CBN. The government should reduce the number of treasury bills issued to the general populace. Other sources of deficit budget funding, such as privatization of obsolete government institutions, should be considered by the government.
Keywords: External Debt, Inflation Rate, Nigeria, Treasury Bills, ways and means advances
Predictors of Continuous Intention to Use Mobile Payment Platforms in a Typical Developing Economy Context: A Literature Review (Published)
This paper aims to review literature on the predictors of continuous intention to use mobile payment platforms in a typical developing economy context. Extant literatures reveal that the unified theory of use and technology is the most widely used theory to explain continuous intention behavior in financial technology marketing literature but few studies have extended the theory to accommodate other variables and investigate the nexus among these variables especially on continuous intention to use mobile platforms from a developing economy like Nigeria. Also, the existing frameworks and models developed in advanced economies may not be suitable for developing mobile payment platforms usage behavior in Nigeria because of its peculiarities. The major importance of this study is to review extant literature on continuous usage of mobile payment technology and make available a comprehensive and robust framework for prospective researchers in this area, which will guide and direct their studies. The framework is premised on five key constructs- performance expectancy, effort expectancy, social influence, facilitating condition, intrinsic motivation, price value and prior experience. More so, the proposed conceptual framework is capable of providing insight for developing financial technology-related policies.
Keywords: Developing Economy, Mobile payment platforms, Nigeria, financial technology, unified theory of use and acceptance of technology
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
Housing Inadequacy in Nigeria and Ramifications (Published)
This article critically analyses housing inadequacy in Nigeria and its effects. The study is exploratory in nature and used qualitative methodology. Key findings suggest that protests, informal settlements, health challenges, shack fires, flooding, violence and criminality, corruption and xenophobic attacks are the ramifications of housing inadequacy in Nigeria. This study used relevant review of literature, document and policy review, and a qualitative inquiry of secondary sources with regards to housing inadequacy in West Africa/ Nigeria and its ramifications to answer the research questions. Through the Federal Housing Authority, the government needs to engage the private sector, state-owned enterprises, States and Local Governments to unlock strategic parcels of land suitable for human settlements development, which provision, especially for low-income groups should be at subsidized rates. The country needs an efficient, formidable and incorruptible Ministry of Housing Development that is able to perform the huge task of spatial integration.
Keywords: Housing, Nigeria, West Africa, inadequacy
Nigeria’s Population Politics and Its Janus-Headed Implications: A Critical Analysis (Published)
The strength of a country is measured through certain indices, some of which are military strength, economy, geography, and population. However, the population can become a tricky indicator because of the possibility of its Janus-headed manifestations. This context is most relevant in countries experiencing population explosion without the natural and material resources to cope with it. The trend is particularly evident in Africa, particularly the Nigerian situation, where attempts at addressing the explosion through policy have failed, which further proves that the Nigerian population explosion is a typical Janus-headed scenario. There is no known research on this discourse as scholars either focussed on the factors that promote population growth or how it affects the economy, without examining the Janus-headed tricky indicator of population explosion which prompted this discourse. In this context, the research paper evaluates the Nigerian population explosion politics as a Janus –headed dilemma and seeks an answer to this question to this question: “Does Nigeria’s population provide opportunities or challenges”?
Keywords: Janus-headed dilemma, Nigeria, Population, population explosion