Firm Characteristics and Sustainable Development of Zenith Bank Plc in Nigeria (Published)
Firms are increasingly implementing sustainable development strategies in response to increased business rivalry in trade and commercial activities and stakeholder pressure. Firms that have regard for future resource availability are mindful of resource sustainability. Hence, this study investigated the nexus between firm characteristics and sustainable development of Zenith Bank PLC in Nigeria. Secondary time series data for this study were collected from annual financial statement and accounts of Zenith Bank for a period of ten years from 2013 to 2022. The information collected on the study variables; firm size (FMSZ), financial leverage (FLEV), return on total assets (ROTA) and sustainability disclosure (SUSD) were evaluated using the Ordinary Least Square regression method in an ex post facto study design. The result obtained shows that FMSZ and FLEV has positive and significant relationship with sustainable development, while ROTA has positive but not significant relationship with sustainable development. The study concluded that firm characteristics have a significant relationship with sustainable development of Zenith Bank in Nigeria. It was recommended among others that the management of Zenith bank should be aware that factors such as company size, financial leverage and profitability are important determining elements when deciding on her corporate sustainable development policies and strategies.
Keywords: Disclosure, Leverage, Returns, Sustainability, firm size
Valuing the Joint Effect of Adult Literacy and Economic Growth on Renewable Energy Consumption in African Zone (Published)
Renewable energy has been considered as the optimistic sources generating from natural resources, able to restock easily and without harming environmental damages, ensures enviornemntal sustainability. In the developing and underdeveloped economies, renewable energy accelerates the wheel of economic growth and development with enhancing the new innovation and enhancing the life-standard of people. The paper aims to investigate the effect of independent variables (General and Socio-economic basis) on consuming renewable energy in zonal-wise. Moreover, the author wants to investigate the joint effect of economic growth (EG) and average literacy rate (ALR) on consuming renewable energy on time-series database from World Bank (WB). Lastly, after measuring joint hypothesis, it is investigated that EG*ALR has joint effect on model in North African Zone (NAZ), Eastern African Zone (EAZ) and Western African Zone (WAZ).
Citation: Tanbir Hossain (2022) Valuing the Joint Effect of Adult Literacy and Economic Growth on Renewable Energy Consumption in African Zone, International Journal of Development and Economic Sustainability, Vol.10, No.4, pp.52-73
Keywords: Renewable Energy, Sustainability, average literacy rate, economic growth
Public Debt Sustainability and Incidences of Poverty: Empirical Evidence from Nigeria (Published)
This paper examined the implications of public debt sustainability on poverty incidence in Nigeria. Specifically, the impacts of external debt stock and interest payment on external debt, proxy for external debt servicing on poverty headcount was estimated using Stock-Watson Dynamic Least Squares (DOLS). Data were extracted from the National Bureau of Statistics (NBS) and World Bank World Development Indicators. The Augmented Dickey-Fuller tests results show that the series are difference stationary as they are integrated of order one. The result of the Johansen-Juselius cointegration test reveals that the series have long run relationship. Thus, the null hypothesis of no cointegration is rejected at 5 percent level. The estimated cointegrating regression model shows that external debt stock as a share of GNI has significant positive relationship with poverty headcount as 10 percent increase in external debt stock induces 7.59 percent increase in poverty headcount. This is a pointer that policy intervention should focus on the effective management of the borrowed funds from external sources in order to drive the process of economic development. On the other hand, it was found that interest payments on external debt as a proportion of GNI is negatively related to poverty headcount. This is suggestive that the extent of debt servicing in Nigeria seems not to undermine the sustainable path of debt management and the developmental goal of poverty reduction. Accordingly, it is recommended for improved fiscal consolidation across various levels of government in Nigeria with a view to keeping the economy on the path of sustainability in terms of external debt management.
Keywords: Debt Servicing, Poverty Incidence, Public Debt, Sustainability
Globalisation, Nepad, Fundamental Human Rights, South African and Continental Development (Published)
This paper emanates from the authors’ interests in the value of globalisation and human rights and interrogates and explores the theme of economic globalisation in Africa. In exploring globalisation and its impacts the issues are how to tackle the challenges of globalisation and international trade, and how we can ensure domestic growth and development in South Africa and the continent. The focus of analysis is the literature that was reviewed. It demonstrates that while globalisation facilitates growth and prosperity for developed nations, it prejudices Africa’s poor. There is an increasing belief that economic globalisation increases inequality as well as poverty in the world. The clear pauperisation of many nations, especially African nations, continues, and it appears as if there are no alternatives, even when indigenous governments are considered to be in full control of their national affairs and NEPAD is involved. The effect of the role of NEPAD in African development is questionable. A human rights approach is non-negotiable and the challenges posed by international trade, including the positive and negative, cannot be ignored if Africa is to rise from its poor past. One of the main issues is how to tackle the challenges of globalisation and international trade, and how we can ensure domestic growth and development in South Africa, for example. Economic globalisation has resulted in a “race to the bottom” in terms of workers’ rights, wages, environmental standards, and child labour. The findings indicate that, ultimately, the nations of Africa that will be successful will be those which are willing to make and take informed decisions concerning their own affairs that are grounded on their own unique realities and strategic objectives for growth, and not those of external players.
Keywords: African Development, Globalisation, Human Rights, NEPAD, Sustainability