Department of Management & Accounting

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Department of Management and Accounting

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    Asset Quality, Capital Adequacy and Financial Performance of Deposit Money Banks in Nigeria
    (Lead City University, 2023-12) Lukman AyodejiOSHO
    The performance of a banking institution is largely driven by its ability to increase its customers’ patronage, retain them and manage its assets and liabilities to enhance optimal returns.This can be done through banks maintaining adequate capital and quality assets for better performance. In Nigeria, in spite of the fact that banks are highly regulated since 1988, many banks have failed due to insufficiency of capital and mismanagement of funds. Assets quality of deposit money banks and capital adequacy over time has been compromised. Increase in the level of gross non-performing loans pause a great risk to banks, the financial sector and the economy at large. Equally, failure to manage down non-performing loans over a long period gradually affects financial performance of deposit money banks. Non- performing loan profile in the DMBs in Nigeria is rising, and has been identified as a disturbing trend.It thus imperative to ascertain the effect of capital adequacy in the financial performance of Deposit Money Banks (DMBs) in Nigeria. This study employed ordinary least square regression analysis with emphasis on pooled effect, fixed effect and random effect model. The findings of this research revealed that non-performing loans has a negative non significant effect on financial performance of DMBs in Nigeria having a coefficient = - 0.022478 and P value of 0.5462. Loan loss provisions has a negative significant effect on financial performance of DMBs in Nigeria having a coefficient = -0.002954 and P value ofn 0.0054. Risk weighted assets has a positive significant effect on financial performance of DMBs in Nigeria having a coefficient = 0.067768 and P value of 0.0034. Liquidity ratiohaving a coefficient = 0.000435 P value of 0.0034 has a positive significant effect on financial performance of DMBs in Nigeria. Moderating variable bank size (BS) has a negative non-significant effect on the effect of non-performing loans, loan loss provisions, risk weighted assets and liquidity ratio on the financial performance of deposit money banks in Nigeria. The study concluded that asset quality and capital adequacy are key factors affecting the financial performance of the Nigeria Deposit money banks and are essential in measuring financial performance of financial institutions while size has no effect on financial performance of the Nigeria Deposit money banks. The study, therefore, recommended that banks should put in place rigorous credit risk management policies in order to stem the increase in NPLs associated with increased lending. The CBN should ensure compliance by adequately monitoring compliance to policy on loan loss limits in relation to provisions. Central Bank of Nigeria should effectively regulate the capital and the resources owned by the Deposit Money Banks (DMBs) in Nigeria by ensuring that a certain level of capital is kept with the Central Bank for financial soundness and stability. Bank officials should be trained in the areas of liquidity management and liquidity changing conditions should not be handled with levity. The banks should reduce their non-performing loans by appropriate credit policies and procedures and should consider other quantitative and qualitative approaches of profit improvement than bank size. 5 Keywords: Assets Quality, Capital Adequacy, Bank size, Financial Performance, Return on Assets Word Count: 502
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    Asset quality, Internal Control System and Profitability of Deposit Money Banks in Nigeria
    (Lead City University, 2022-12) Oluseyi Abraham OLAYINKA
    Banking industry has witnessed several changes in the last decade from partial to full digital transformation which improved their customer engagement especially in the area of granting loans with implications on their profitability. This study investigated the effect of asset quality on the profitability of Deposit Money Banks (DMBs) in Nigeria and the moderating effect of internal control system on the interaction between asset quality and profitability of banks. Dearth of study that combines asset quality relevance and internal control system in one study to address profitability of DMBs in Nigeria was the gap filled. The study was anchored on Liabilities Management theory. Four research questions and hypotheses were formulated. The study adopted ex-post facto design which entails the utilization of historical data to forecast future trends. Inferential statistics adopted econometrics models with panel data using pooled ordinary least square, Fixed and Random effects Regression models. The population comprises of twenty three DMBs in Nigeria. Sample size consisted of seven banks based on the problem identified in this study. The results showed that asset quality has significant effect on Return on asset (F = 10.89, p =0.001<0.05, R2=0.434); Return on Equity (F= 4.442, p =0.004< 0.05, R2=0.235); no effect on Return on Capital Employed (F= 1.193, p =0.069>0.05, R2=0.068), Internal Control System has no moderating effect on the interaction between asset quality and profitability of DMBs(F= 1.013, p =0.071>0.05, R2=0.066). The study concluded that asset quality has effect on the profitability of DMBs and there is no moderating effect of internal control system between asset quality and profitability. It was therefore recommended amongst others that banks should review their credit policy regularly that will reduce non-performing loans and the DMBs should also restrategise their policy on deposit mobilization that will minimize the impact of Payment Service Banks (PSBs). Keywords: Asset Quality, Deposit Money Banks, Internal Control System, Loans, Profitability, Word Count : 297
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    Audit Quality and Financial Performance of Listed Nigerian Money Deposit Banks in Nigeria
    (Lead City University, 2023-12) Isaiah Adeoluwa TADE
    Many countries' economies may not grow to their current levels without the banking sector's function as financial mediators connecting surplus and deficit economic agents. Therefore, it remains a significant global phenomenon for corporate organisations to continuously achieve improvement in corporate performance. However, in Nigeria the ripple effect of the financial crisis, economic recession and economy recovery policies both from the Federal government and the CBN have created tougher times for many Nigerian business including banks and this has negatively affected the performance of the banking sector in the country. To address these issues in the Nigeria’s banking sector for the better, both the industry regulator and banking experts suggested that the banks corporate parent needs to conduct audit assignment with an assurance of the high audit quality can be used as a framework to address the many challenges. Hence, on the strength of the signalling and agency theories, this study examined the effects of audit quality on financial performance of DMBs in Lagos State. The study adopted an ex-post facto research design by utilizing secondary data obtained from the selected quoted banks annual reports, using time series data from 2016 to 2021. The study adopted correlation analysis and ordinary least square regression analysis to test the hypotheses formulated. The findings of the study revealed that all the dimensions of audit quality have positive and significant relationship with the financial performance. Moreover, audit quality has positive and significant effect on financial performance of DMBs in Lagos ria ((R 2= 0.76, p= 0.000). The study concluded that audit quality do have effect on financial performance of listed DMBs in Nigeria. Therefore, it is imperative for management of DMBs to see that quality audit engagement is critical for the long-term sustainability of their establishment. Keywords: Audit quality, Deposit Money Banks, Financial Performance. Word Count: 300
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    Branding strategies and Consumer Patronage of Fast Moving Consumer Goods in Oyo State
    (2022-12) Abimbola Toun FALUYI; Oyindamola Abiodun ADELESI
    This study deals with the impact of branding strategies and Consumer patronage of fast moving consumer goods. It is a trending fact that consumers are more inclined to branded products as opposed to unbranded ones when choosing a choice of product in the market. We would be understanding the roles that Brand Awareness, Brand Loyalty, Brand Image, brand equity and Pricing strategy plays on the patronage of FMCG in Ibadan. This study adopts the survey research design which helps to directly show people’s opinions, attitudes and emotion among other subjective characters. The data for this survey was collected from 323 employees of Procter and Gamble Company in Nigeria (P&G) in Oyo state using the convenient sampling method. The data retrieve was analyzed using SPSS 23.0. From this study, it is discovered that branding strategies has a significant on consumer patronage of fast moving consumer goods in Nigeria. The results also shows that all four branding strategies were of significance in influencing the consumers patronage variables. The regression coefficient, t statistic, and p-value for the model show that Brand Awareness (β=.480, t=8.142, p<0.05); Brand Image (β=.657, t=8.418, p<0.05); Brand Equity (β=.398, t=6.819, p<0.05) and Pricing Strategy (β=.328, t=7.743, p<0.05) exerts a positive and statistically significant effect on patronage intentions. Hence, the null hypothesis was rejected and the study conclude that Brand Awareness, Brand Image, Brand Equity and Pricing Strategy have a significant influence on patronage intentions of fast moving consumer goods in Ibadan, Oyo state. Therefore, we recommended that The FMCG companies in Nigeria should pay much attention to the influences of brand awareness, brand image, brand equity and pricing strategy as it increases consumers purchase intentions. They should engage always in more branding strategies, and set up a more effective branding management department with experienced staff to help align these branding strategies with the company’s goals and objectives. Keywords: Branding Strategies, Consumer Patronage and Fast Moving Consuming Good Word Count: 308
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    Budgeting Process and Organizational Effectivenessin The Polytechnic,Ibadan, Oyo State, Nigeria
    (Lead City University, 2023-12) Elizabeth Abosede WURAOLA
    Tertiary Institutions operates basically on budget. This study assessed organizational effectiveness of Budgeting Process in The Polytechnic, Ibadan, Oyo State, Nigeria. Expectations are that tertiary institutions provide educational services, however, there has been on several occasions the occurrence of industrial disharmony and unrest between the management, staff and students of the tertiary institutions which posed the question whether the management and the stakeholders are not efficient in their operations and does not see the practical necessity to ensure the acceptance of budgeting process as an efficient managerial tool vital to the planning, coordinating and controlling functions. The research tool employed in data gathering and collection was questionnaire while SPSS version 25 was adopted for descriptive and inferential statistics to analyze the data while agency theory was employed. The null hypothesis tested states that “there is no significant effect of budgeting process on organizational effectiveness in The Polytechnic, Ibadan, Oyo State, Nigeria”. Based on the findings from the study, it therefore concluded that “there is a statistically significant effect of budgeting process on organizational effectiveness of The Polytechnic, Ibadan, Oyo State, Nigeria” [R2=0.276, F(1,236)=90.053, P=0.0000] which aligned with agency theory as the theoretical bedrock for the study. However, it was found out that most of the key actors do not work with the budget due to lack of proper induction on their expected roles in the positions they occupied. Hence, the need for copy of budget manual to be sent to each departmental head after its approval by the government. The study recommended that management should intensify efforts in planning budget according to the organizational goals and objectives; provide adequate professionals who would prepare and plan the budget; keep budget implementation according to financial rules and regulations; embrace strong and effective internal auditing and budgetary control systems. Keywords: Budgetary control, budget implementation, budget planning, employee’s commitment, organizational effectiveness, service delivery, Word Count: 300 words
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    Capital Budgeting Techniques and Financial Performance of Selected Manufacturing Companies in Lagos State, Nigeria
    (Lead City University, 2022-12) Peter Oluwole BABALOLA
    The purpose of this study is to examine capital budgeting techniques and financial performance of selected manufacturing firms in Lagos State, Nigeria. It is to determine the relationship between capital budgeting strategies and the financial performance of manufacturing enterprises in Lagos, Nigeria. The enormity of costs incurred on capital projects is such that a mistake in the decision on whether or not to undertake a project may have dire consequences for manufacturing and industrial enterprises. It can lead to the determination of a company's status as a going concern. This is why this study is being carried out. The research instrument is a published financial statement obtained from secondary data of three manufacturing businesses for the period 2011–2020 for the topic of study in the selected manufacturing companies, which results in thirty observation periods. To analyse the capital budgeting processes objectively, information was acquired from the published financial statements of the chosen industrial enterprises. The researcher analysed the data using descriptive and inferential statistics. Return on investment was employed as a metric of financial performance. The use of SPSS, graphs, and the Cronbach's alpha model made data analysis possible. Using the Chi square and Pearson coefficient test models, results were drawn regarding the relationship between the independent and dependent variables. The study found that net present value (NPV), the payback period (PBP), the internal rate of return (IRR) as well as the accounting rate of return (ARR) have substantial effects on financial performance. In addition, the study indicated that CBTs have indirect causal impacts on financial performance and allow for the selection of fundamentally profitable projects. Keywords: Capital budgeting techniques, net present value, internal rate of return, payback period, financial performance. WordsCount: 267 words
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    Capital Flight, Financial Stability and Nigerian Economic Growth
    (Lead City University, 2023-12) Babatunde ORENUGA
    Achieving the projected economic growth rate has remained a critical determining factor of economic prosperity and sustainability for many nations globally. This is because the socio- economic wellbeing of the State-players including the citizen depends on the attainment of the economic growth rate. While developed economies have made it a habit of consistently attaining significant economic growth rate which result in socio-economic benefit for the State and their citizen, Nigeria seems to be struggling in setting realistic economic growth rate and in its’ attainment. This weak Nigeria’s economic growth rate and its attendant consequences on the citizen raise some contextual issues on capital flight and financial stability. Hence, on the strength of the purchasing power parity theory and debt overhang theory, this study examined the effects of capital flight and financial stability on Nigerian economic growth. The study adopted an ex-post facto research design by utilizing secondary data obtained from the CBN Statistical Bulletin, NBS, IMF and World Bank, using time series data from 2002 to 2021 and annual reports of eight selected financial institutions in the category of international authorization in Nigeria. The study adopted ordinary least square regression analysis to test the hypotheses formulated in the introductory chapter. The findings of the study revealed that capital outflow (CO) has a negative relationship with Nigerian economic growth and the effect is significant (ꞵ = -0.289965; P-Value = 0.006). External debt (ED) has a negative correlation with Nigerian economic growth and the effect is insignificant ( ꞵ = -0.088933; P-Value = 0.7899). External reserve (ER) has negative relationship with Nigerian economic growth and the effect is significant (ꞵ = -57032.05; P- Value =0.0329). Exchange rate (EX) has a negative correlation with Nigerian economic growth and the effect is insignificant ( ꞵ = -0.235292; P-Value = 0.422). Return on asset (ROA) has a negative relationship with Nigerian economic growth and the effect is significant (ꞵ = -0.051184; P-Value = 0.0390). Non-performing loan (NPL) has a negative correlation with Nigerian economic growth and the effect is insignificant (ꞵ = -0.016001; P- Value =0.4983). This study concluded that capital flight and financial stability when managed appropriately hold potential to enhancing Nigerian economic growth. The study recommended that government at all levels must provide friendly and enabling environment through the availability of infrastructural amenities needed to encourage investments that will bring more capital inflows from foreign countries. Likewise, there must be a limit on foreign borrowing tendencies of government at all levels. In addition, foreign borrowing must be limited to only infrastructural development desires of the country. Moreover, government should establish a steady exchange rate regime capable of encouraging capital inflows into the country and boost Nigeria’s financial stability. Nigeria Government should stop importation of petroleum products into the country and fix all the four (4) refineries in the country to reduce foreign currency spent on importation of petroleum products. The current efforts designed at checkmating loan defaults in the banking system through the application of the global standing instruction (GSI) regulations should be improved upon, sustained, and extended to non-individual customers of financial institutions. Keywords: Capital flight, Capital outflows, External reserve, External debt, Exchange rate, Financial stability, Non-performing loan, Real gross domestic product, Return on asset. Word Count: 500.
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    Corporate Governance and Innovation Capability on Performance of Deposit Money Banks in Lagos State, Nigeria
    (Lead City University, 2023-12) Olufunke Olukemi SERIKI
    Globally, banking sector performance has experienced significant growth in terms of earnings, size and resilience between 2008 and 2022. Total assets reached over $124 trillion, while return on assets (ROA) stood at 0.9%. Hence this study aim to evaluate the effect of corporate governance and innovation capability on performance of selected deposit money banks in Lagos State, Nigeria. The specific objectives are to; determine the effects of corporate governance dimensions on performance of selected deposit money banks in Lagos State, Nigeria; evaluate the effect of innovation capability dimension on performance of selected deposit money banks in Lagos State, Nigeria; and assess the combine effect of corporate governance and innovation capability on performance of selected deposit money banks in Lagos State, Nigeria. This study adopts a quantitative research method, employing a cross-sectional survey research design. The population consists of one thousand, two hundred and twenty-eight (1,228) employees of selected deposit money banks headquarters in Lagos State, and three hundred and six (306) sample size. The administered questionnaires represent a 79.1% response rate. The result of hypothesis one showed that corporate governance have positive but weak statistical significant relationship with finance performance of DMBs (R = 0.205, P<0.05), hypothesis two revealed that innovation capability has positive but weak statistically significant relationship with financial performance of DMBs (R= 0.287, p<0.05), and hypothesis three revealed that corporate governance and innovation capability have positive but weak statistically significant relationship with the performance of DMBS (R = 0.313, p<0.05). This study concludes that corporate governance and innovation capability have significant effects on the performance of selected deposit money banks in Lagos State. This study recommends that corporate parent of the selected deposit money banks should pay attention to corporate governance activities to ensure that it helps improve performance for the DMBs under investigation. Keywords: Corporate Governance, Innovation Capability, Deposit Money Banks. Word Count 297
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    Corporate Governance and Performance of Selected Listed Companies in Nigeria
    (Lead City University, 2022-12) Jimoh Akanbi IBRAHIM
    Many big corporation have collapse with perceived strong structures and processes around the world and in Nigeria. Some companies despite operating in regulated environment that requires good compliance to corporate governance have suffered several setbacks and decline in growth and productivity. Due to these challenges, this study examines the Corporate Governance and Performance of Listed companies in Nigeria. The research reviewed three theories i.e. Principal-Agency theory, Stewardship Theory and Resource-Based theory. The study employed descriptive statistics for analysis of demographic data and research questions, while panel data regression was adopted for hypotheses testing with the aid of SPSS. Data analysed through Correlation Analysis, Regression Analysis, Analysis of Variance and Coefficient & Statistical Significance of Variable. Findings show a strong positive correlation between the independent variable (Board size) and the dependent variable (Net profit) with r = 0.985 (Sig.value = 0.000, p<0.05), correlation between the independent variable (leadership structure) and the dependent variable (earnings before tax) with r = 0.821 (Sig. value = 0.000, p<0.05), ANOVA shows the variables are jointly significant at all critical level i.e. 1%, 5%, 10%, showing the general strength of the model. A positive relationship between the board independence and the return on investment. This shows that every 1% change in the board independence, results in approximately 92.5% change in the return on investment. (β= 92.485, t=22.892, p<.000). Strong correlation between the independent variable (management transparency) and the dependent variable (growth) with r = 0.932 (Sig.value = 0.000, p<0.05). It is recommended that management should embrace and comply with the corporate governance principles in their structures and processes to ensure the business survival, growth, better earnings and enduring profitability. Keywords: Corporate Governance, Performance, Listed companies, leadership structure, Management, Growth and Net Profit. Word Count: 273
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    Corporate Governance, Firm-Specific Factors and Sustainability of Fast-Moving Consumer Goods Manufacturing Companies in Nigeria
    (Lead City University, 2023-12) Mustapha Aikins SULEIMAN
    The turbulent nature of the environment within which the manufacturing sector operates in Nigeria has led to the closure of several manufacturing companies over the years. Noticeably, to sustain their operations in the face of the dynamic environment, corporate strategies have been inclined towards shrinking firm sizes and moving to a cost-advantaged location outside Nigeria. The development raises the question of what relevance is corporate governance (measured by accountability, agile leadership, and stakeholder management) and firm-specific factors (measured by firm size and operational efficiency) in addressing the issues affecting the sustainability of the fast-moving consumer goods manufacturing companies in Nigeria. Thus, the study examined the effect of corporate governance and firm-specific factors on the sustainability of fast-moving consumer goods manufacturing companies in Nigeria and further interrogated the intervening effects of environmental dynamism on the interaction between corporate governance, firm-specific factors, and sustainability of fast-moving consumer goods manufacturing companies in Nigeria. The study is anchored on the stakeholder theory and dynamic capabilities theory. The population of the study constitutes 5,710 regular staff of 6 selected fast-moving consumer goods manufacturing companies in Nigeria with their head office in Lagos State; the selected companies represent 85% of the consumer goods industry in Nigeria. The study adopted the cross-sectional survey design to study the subset of the population. The Raosoft online sample size calculator for finite population was employed in calculating the sample size of the study at 5% significant level. The research instrument used was an adapted 6-point Likert scale structured questionnaire which was administered by employing the proportionate percentage, stratified random sampling and simple random sampling technique. Out of the 432 questionnaires distributed, 406 were retrieved. 383 of the retrieved questionnaires were deemed usable, indicating a response rate of 88.65%. Data collected were analysed using Partial least-square-structural equation model to examine the three-way direct, mediation, and moderation null hypotheses. The study findings show that: corporate governance exerted a significant effect on sustainability (Adj R 2 =0.710, p=0.000, Q2 =0.391); firm-specific factors exerted a significant effect on sustainability (Adj R 2 =0.428, p=0.000, Q2 =0.234); corporate governance and firm-specific factors jointly exerted a positive and significant effect on sustainability (Adj R 2 =0.698, p=0.000, Q2 =0.188); environmental dynamism exerted a positive and significant moderating effect on the interaction between Corporate Governance and sustainability (β =0.386; p< 0.006, Q2 =0.290); environmental dynamism was also found to exert a positive and significant mediating effect on the interaction between firm specific factors and sustainability of the selected fast moving consumer goods manufacturing companies (β=0.396, t= 2.919, p= 0.004). The study recommended that fast-moving consumer goods manufacturing companies should: pay particular attention to improving their level of accountability and focus more on the agility of leadership and stakeholder management strategies; Understand the appropriate configuration of firm-specific factors required to mitigate the negative external threats in the dynamic environment to take advantage of available opportunities; and continuously evaluate the external environment and align performance with set goals in the face of the turbulent business environment to aid their sustainability. Keywords: Sustainability, Environmental dynamism, Firm-Specific-Factors, Manufacturing companies, Dynamic Capability theory, Stakeholder Theory. Word Count: 498
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    Corporate Social Responsibility and Financial Performance of Listed Fast Moving Consumer Goods Firms in Nigeria
    (Lead City University, 2022-12) Oluwatoyin Julianah AYENI
    Corporate Social Responsibility has greatly contributed to the success of various corporate institutions in the western world while the concept is widely recognized as being of significant strategic value to organizations. This study therefore seeks to address the corporate social responsibility and financial performance of listed fast moving consumer goods firms in Nigeria. The research adopted the ex-post facto research design. Secondary data were captured through the use of financial statement of listed fast moving consumer goods firms in Nigeria. Target population of the study was made up of listed fast moving consumer goods firms in Nigeria. A total of nine companies were randomly selected through purposive sampling technique and ten years financial of their financial statement were put under observation. The study revealed that the summary statistics of all the variables under study were described. Specifically, the mean values of the CEE, SEE, HSE and the ESE stood at N19, 450, 000, N751,000,000, N83,720,000 and N9,720,000 respectively, also that the company engages in CSR programmes because it wants to create an image of a good corporate citizen. The study concludes that CSR has a substantial and positive impact on all performance indicators used in the literature review which are: finance, organizational performance overtime, reputation, employee commitment and brand differentiation. It was therefore recommended that companies should identify their stakeholders’ needs before taking CSR initiatives; also top management must understand the strategic financial benefits of CSR activities and include CSR initiates in their strategic plans. Keywords: Corporate Social Responsibility, Financial Performance, Nigerian Listed Firms, Community Empowerment, Environmental Management Word Count: 242
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    Customer Engagement and Performance of Baby-Care Products in Ibadan Oyo State, Nigeria
    (Lead City University, 2023-12) Damilola Grace, RASHEED
    The global performance of Manufacturers of Baby-Care Products (MBCPs) showed the industry experienced growth. However, the performance of MBCPs in Nigeria experienced decline in customer trust, satisfaction and commitment which is suggestive of challenges associated customer engagement. Hence, this study examined the effect of customer engagement on Customer Performance (CP) of selected MBCPs in Oyo State, Nigeria. Cross-sectional survey research design was adopted. The infinite population has a sample size of 537 nursing mothers computed using Cochran formula. The study adopted a purposive sampling technique to select the nursing mothers. A validated questionnaires were used to collect data. The Cronbach’s alpha reliability coefficients for the constructs ranged from 0.72 to 0.91. The response rates of 89.7% was obtained. Data were analysed using descriptive and inferential statistics. Findings revealed that customer engagement has significant effect on CP (R² = 0.140, F(1,446) = 72.645, p = 0.000). Customer engagement has significant effect on customer satisfaction (Adj. R 2= 0.151, F(2,445)= 40.813, p= 0.000). Customer engagement has significant effect on customer trust (Adj. R 2= 0.107, F(2,445)= 40.813, p= 0.000). Customer engagement has significant effect on customer commitment (Adj. R 2= 0.402, F(2,445)= 10.726, p= 0.000). Customer equity had significant moderating effect on the relationship between customer engagement and customer performance ofselected BCPsin Oyo State, Nigeria (ΔR 2= 0.100, ΔF = 7.504, p <0.006). The study concluded that customer engagement affects customer performance of selected BCPs in Oyo State, Nigeria. The study recommended that management of the baby-care product investigated should focus more on engaging nursing mothers so that customer satisfaction can be improve performance. Management must reinvent customer equity mechanism such as value, brand and relationship equity as it has the potential to improve the interaction between customer engagement and customer performance in Ibadan Oyo State. Keywords: Baby-care industry, Customer engagement, Customer equity, performance Word Count: 296
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    Customer Equity, Brand Awareness and Performance of Cosmetics Companies in Ibadan Oyo State, Nigeria
    (Lead City University, 2023-12) Precious SOLOMON
    When considering the socioeconomic contributions to support jobs and stimulate economic progress, the cosmetics industry stands out as one of the most active. However, there are increasing customers concern about the transparency and sustainability of cosmetic products, Thus, demands management commitment in deploying appropriate Customer Equity mechanisms (CE) and creating Brand Awareness (BA) to enhance customer perception and performance. Hence, the study assessed the effect of CE on performance of cosmetic products in Ibadan. Cross-sectional survey research design was adopted. The infinite population has a sample size of 460 women-cosmetics users computed using Cochran formula. The study adopted a purposive sampling technique. A validated questionnaires were used to collect data. The Cronbach’s alpha reliability coefficients for the constructs ranged from 0.72 to 0.91. The response rate of 95.2% was obtained. Data were analyzed using descriptive and inferential statistics. Findings revealed that CE has significant effect on performance (R2 = 0.595, β= 0.505, t= 7.215, p=0.000). CE has significant effect on customer satisfaction (Adj R 2 =0.415, p=0.000, Q2 =0.254). CE has significant effect on new product development (Adj R 2 =0.296, p=0.000, Q2 =0.254). CE has significant effect on customer engagement (Adj R 2 =0.263, p=0.000, Q2 =0.177). BA has significant mediating effect on the relationship between CE and performance of cosmetic firms in Ibadan Oyo State (β=0.206, t= 3.596, p= 0.000, Q2 = 0.221, 0.339). This study conclude that CE and BA are important for higher performance. The study recommends that cosmetics firms selling in Ibadan must position their brands in such a way that it amuses existing and potential customers perception towards their product to gain market share and be creative in their commitment to brand awareness campaign because of its ability to explain the effect customer equity has on performance. Keywords: Brand awareness, Customer equity, Cosmetics products, organisational performance Word count 290
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    Deposit Money Banks’ Financial Intermediation and Performance of the Manufacturing Sector in Nigeria
    (Lead City University, 2022-12) Opeyemi Akindele FATOLA
    Every country strives towards sustainable economic development, therefore, the place of financial intermediaries in reallocating financial resources to the deficit side as credit to achieve this, cannot be overemphasized. The Manufacturing Sector in Nigeria which comprises of some other sub-sectors has not been performing encouragingly well despite increasing credit made available to it by Deposit Money Banks, year in year out. More recent of this poor performance was a decline of -2.79% in the sector’s contribution to the RGDP in 2020 as against the preceding year. Thus, this study investigated the varying dynamic relationship between Deposit Money Banks’ financial intermediation and the performance of the Manufacturing sector in Nigeria, using exogenous variables such as Deposit Money Banks’ Credits to the Manufacturing Sector (DMBCMS), Demand Deposits (DD), Loan-to-Deposit Ratio (LDR), Deposit Interest Rate (DIR) and Lending Interest Rate (LIR) on Manufacturing Sector’s Output (MNOUT), the endogenous variable, using annual secondary data spanning from 1981 – 2020 sourced majorly from statistical bulletins from the Central Bank of Nigeria (CBN). Unit root and cointegraton tests indicated that the variables were of different orders, with long run relationship, which informed the use of ARDL.There were mixed results in both the short and long-runs. Notably was DMBCMS having a negative effect on the performance of the sector both in the short and long-run, which could be due to the negative effect of lending interest rate. ECT and the F-statistics were significant at 1% with a 91% and 1.72 R-squared and DW values respectively. Residual diagnostic tests all turned out efficient for forecasting. A major recommendation is that policies be made to lower lending rates to encourage investors as high lending rates is detrimental not just to the performance of the sector, but to economic growth as a whole and discourage importations in favour of domestic productions. Keywords: Deposit Money Banks, Financial Intermediation, Manufacturing Sector, CBN, ARDL Word Count: 300
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    Dividend Policy and Share Price Volatility in Listed Manufacturing Companies in Nigeria
    (Lead City University, 2022-12) Rasaki SUBAIR
    Abstract The dividend policy decision is one of the most important decisions in any organization in order to achieve efficient performance and attainment of objectives, as such frequent changes in amount paid as dividend makes share prices volatile. This study adopted a historical research design. The study also utilized panel data which simultaneously combines cross-sectional and time series data. The population of this study consisted of forty-three (43) manufacturing companies, quoted in Nigeria (NSE, 2020). Using simple random sampling technique, 10 manufacturing companies (comprising of consumer goods, industrial goods and agricultural goods manufacturing companies) were selected. The study conducted a descriptive analysis and Ordinary least Square (OLS) regression technique and correlation was adopted to examine the relationship that exists between Dividend Policy and Volatility of Share Prices. The findings of the correlation coefficient results imply that the independent variables (dividend yield and dividend pay-out ratio had a positive relationship with the dependent variable (share price volatility) while independent variable (asset growth rate, firm size and earnings volatility) had a negative relationship with the level of volatility in share prices of the selected manufacturing firms in Nigeria. Given that the study established a statistically significant relationship between the dependent and independent variables, on these grounds, the study concluded that there is a significant relationship between Dividend Policy and Share Price Volatility of listed Manufacturing Companies in Nigeria. The study recommends that managers of dividend-paying companies should structure the dividend policy to have consistent dividend payments in other to minimize share price volatility. Keywords: Dividend Yield, Dividend Pay-out, Assets, Asset growth rate, Earnings, Share Price, Share price volatility. Words count: 251
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    Dividend Policy and Share Price Volatility of Deposit Money Banks in Nigeria
    (Lead City University, 2022-12) Adewale Abdul, ADESANYA
    Dividend policy and Share price are critical decision area, these are one of the most important financial policies decision, not only from the viewpoint of financial institutions, but also from that of the shareholders and other stakeholders. This Thesis examined the impact of dividends policy and share price volatility of quoted deposit money banks in Nigeria in relation with the restriction of dividend payments as spelt out in Section 17 of the Banks and Other Financial Institutions Act (2007). The objectives of the study were: to ascertain the relationship between dividend pay-out ratio; earnings per share; profit after tax; and market value of shares. The panel data research design methodology was adopted using secondary data. The secondary data were obtained from annual reports of the ten quoted deposit money banks. The multiple regressions and Least Square method was used to test the relationship between the variables for the period 2017-2021. The results showed that dividend policy has a positive significant impact on share price of deposit money banks in Nigeria (coefficient of Dyield = -3.0365, p-value = 0.035). The study concluded that dividend policy is a pertinent corporate finance function and financial policy decision which affects the share price of deposit money banks in Nigeria not only from the view point of the banks’ shareholders but also from that of stakeholders such as employees and regulatory bodies. The study therefore recommended that, managements of quoted deposit money banks should take all necessary steps to ensure that they remain profitable. They should pay attention to their dividend pay-out in order to sustain their shareholders' wealth and attract prospective investors. Keywords: Dividends policy; Share price; market value; deposit money banks. Words: 278
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    E-Banking Service Quality, Internal Control System and Organization Performance of Selected Deposit Money Banks in Nigeria
    (Lead City University, 2022-12) Roseline Aminat, OYETUNJI
    The banking system has evolved significantly over the years, and this has been driven by sophisticated innovations in technology. The introduction of the E-banking services has become a platform that allows financial institutions and clients to access their records, move payments, and obtain the most up-to-date information about their monetary goods via public or private systems, such as the internet. The aim of this study is to investigate the effect of e-banking service and internal control system on performance of selected DMBs in Lagos State, Nigeria. The knowledge-based theory and dynamic capability theory were adopted for the purpose of this study. To conduct the study, a total number of 384 respondents were taken from a population of 111.54m bank customers by using simple purposive sampling technique. The data were gathered using a structured questionnaire and four points Likert scale was used for evaluation. From the findings, E-banking quality service has significant effect on customer satisfaction. Also, E-banking quality service and internal control have a significance influence on the performance of DMBs in Lagos State, Nigeria. The study recommended that E-banking service safety needs attention given its insignificant relative influence on customer satisfaction, thus, management effort is required to give assurance to bank customers that E-banking platforms are safe. Likewise, E-banking service quality and internal control system for the DMBs examined although has significant effect on performance however, individually, and collectively the independent variables had weak contributions to performance. Keywords: Deposit Money Banks, E-Banking, Internal Control System, Organization Performance, Service Quality. Word Count: 259
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    E-procurement and Organizational Performance of Oil and Gas Services Companies in Rivers State Nigeria
    (2022-12) Chukwudi OKONYE
    E-procurement is a collaborative procurement of goods, works and services using electronic methods in every stage for bringing in efficiency and transparency. E-procurement integrates the buyers and suppliers through relevant IT system and automates the purchasing and procurement process of a company. This study identify that some of the problems that can arise as a result of non-electronic procurement process, this could be delay in sourcing, tendering, vendor selection, lack of alternate options, delay payment (mostly through the manual process), ordering and order-delivery time. The purpose of the study was to investigate the relationship between e-procurement and organizational performance of oil and gas services companies in Rivers State. However, a sample of one hundred and forty-nine (149) companies from which one respondent consisting of relationship manager/procurement manager/marketing manager/logistics manager/ITC manager from each of the companies was given questionnaire to provide data for the study. Data were collected through the questionnaire method designed in the Likert 5-poinit scale of strongly disagree to strongly agree and analyzed using descriptive statistics of mean, standard deviation, variance, frequency distribution, and bar chart. Six hypotheses in the study were tested using Pearson product moment correlation. Furthermore, multiple regression analysis was used to measure the combined effects of all dimensions on each of the measures. These analyses were done with the aid of the Statistical Package for Social Sciences (SPSS) version 22.0. From the analyses it was found that, there is a strong and very strong relationship between e-tendering and market share and profitability respectively. Again, e-payment has moderate relationship with market share and profitability. Also, there is a very strong and strong relationship between e-ordering and market share and profitability respectively. Furthermore, all the results were positive and significant. This study adopts a cross sectional research design because it deals with getting data from target respondents and determining the association between variables. It is recommended that oil and gas services companies should adopt e-procurement as a strategic tool in their quest towards achieving and maintaining organizational performance in terms of market share and profitability
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    Effect of Covid-19 Pandemic on Small and Medium Scale Enterprises in Nigeria
    (Lead City University, 2022-12) Comfort T. ADENIKE; Omotayo T. AYANSINA; Precious K. OBENYEOKWU
    Abstract The purpose of this research is to learn how the COVID-19 pandemic has affected Nigeria's SMEs, particularly those that have been forced to close their business due to the mandated lockdown designed to curb the spread of the virus. Quantitative data was collected from 169 randomly selected SMEs through a standardised series of questionnaires to obtain the data. The investigation revealed that the businesses' production and sales fell by a moderate amount in 2020 due to the lockdown. But in that same year, the studied businesses saw a surge in cancelled orders and delayed shipments. In light of the foregoing, the report advises policymakers and all stakeholders in SMEs in Nigeria that, while the pandemic is still underway, a considerable drop in operations and sales of SMEs will convert into a cash-trap. This would make Nigerian SMEs even more susceptible to various types of external shocks. Therefore, the government should allocate a contingency fund for small and medium-sized enterprises (SMEs). Policymakers should also consider deferring or waiving taxes, reducing loan rates, and other measures to help small and medium-sized enterprises (SMEs) weather the COVID-19 pandemic and recover thereafter. Keyword: SMEs, COVID-19, Economy, Lockdown, Government policy Word Count - 188
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    Effect of Financial Analysis and Financing Decisions on Selected Quoted Companies in Nigeria
    (Lead City University, 2022-12) Oikelomen Peter Iyaghe
    The financial analysis choice has been an issue of great interest in the corporate finance literature. This is due to the fact that the mix of funds (leverage ratio) affects the cost and availability of capital and thus, firms’ investment source. Therefore, there are many theories, which discuss it in many different ways. It basically referred to how a firm mixes debt and equity in order to finance itself or in other words, it concerns about combination of funds, in the form of debt and equity. The recent competition in the market place provides opportunities for organizations/firms to engage in such a healthy decision making that will help in image creation and hence help in the growth of the bank and thereby increase profitability, hence this research seeks to examine the extent of financial analysis and performance and how it has helped in financing decisions for organizational growth of the selected quoted firms in Nigeria Stock Market. Survey method of research was used to carry out the research. Self-designed structured questionnaires were administered to the respondents. The study showed that the respondents were majorly male within age group of 21 -30, 31 – 40 and above 40 years of age. Those aged 21 - 30 were 6, making up 6.2% of the respondents, those aged 31 - 40 were 28, making 28.9%, and those above 40 years of age were 63, making 64.9%. The results indicate that majority of the respondents were above 40 years of age. Furthermore, the result of the findings also revealed that good financial analysis will lead to good financing decision which will directly influenced sales hence increase in profit, it also revealed that a good financing decision will lead to organizational growth and that through well analysed financial analysis. Keywords: Financial analysis, financing decision, Organizational growth, Quoted Companies in Nigeria Word count: 291