This study aims at investigating into voluntary corporate risk disclosure by firms in Nigeria. The population of the study comprises four sectors quoted in the Nigerian Stock Exchange. These sectors contained 24 companies on which stratified sampling technique is used in the selection of 12 companies for the study. The data for the study have been drawn from year 2010 annual reports of the sample companies. The study employs content and regression tools of analysis in the course of the study. The content analysis reveals that operational risk disclosure dominates strategic and environmental risk disclosure category. The regression results show that corporate risk disclosure is not significantly related to company size, leverage and directors holding. It is concluded that firms in Nigeria are disclosing little risk related information, in the event where disclosed, directors are often reluctant to state its impacts on firm’s financial position as there is absent of any requirement from the regulatory environment.
This study was carried out to examine the Impact of financial reforms on Economic Performance in Nigeria. The study sought to assess the performance of Nigerian Banks as influenced by changes in the economy as well as changes in other sectors of the financial system. Following a forty year review of the performance of Nigeria’s economy in tandem with the performance of Banks in the face of the ebbs and flows of the identified parameters, the study noted two eras of pre-reform (1970-1985) and the reformed (1995-2010) financial eras. To this end it was concluded that reforms so far implemented have not significantly move the economy foreword and consequently banks have not also performed as had been expected; but rather, the reforms have created avenues for executive fiat, corruption and embezzlement of public funds. The study recommended that government should ensure that subsequent reform policy thrust be geared toward proper reserves management, efficient stock market operation etc, to enable banks put their capital and asset base to full utilization, while insurance sector should be given proper policy consideration for its development,capable of moving the economy forward.
The protection of policyholders'' interests and customer satisfaction are the most important issues which are to be taken care of after the privatization of the industry. In view of the above said issues an attempt has been made in the present research work to study the service quality perceptions and assess the attitude of life insurance policyholders. The study envisages assessing the attitude of the policyholders towards the phenomenon of privatization, the changes brought in the industry after privatization and the consequent satisfaction levels. The present study has been carried out to study the progress and trends in the life insurance industry in India after privatization;to conduct plans/policies comparison of different players;to probe into the availability of insurance services as to coverage and distribution reach;to seek opinion of customers regarding premium rate structure;to find out customer satisfaction towards plans/policies, distribution channels and promotional measures and to study customer satisfaction levels regarding claim settlement and grievance handling mechanism.
Literature suggests that CEOs of technology firms earn higher pay than CEOs of non-technology firms. I investigate whether compensation risk explains the difference in compensation between technology firms and non-technology firms. Controlling for firm size and performance, I find that CEOs in technology firms have higher pay, but also have much higher compensation risk compared to non-technology firms. Compensation risk explains the major part of the difference in CEO pay. My study is consistent with the labor market economics view that CEOs earn competitive risk-adjusted total compensation.
The developing countries generally lack sufficient capital to boost economic growth and development, hence fDI inflows are required to augment domestic capital so as to help accelerate the pace of economic growth and development in these countries. In Nigeria, the overall economic performance since independence has been rather unimpressive. Despite the availability of huge oil resources, its growth rate has been quite feeble. GDP growth rate was even negative for many years especially in the first half of the 1980s when the collapse of crude oil prices triggered an acute economic crisis in Nigeria.This weak economic performance especially in the past three decades has been attributed to a host of factors more particularly the collapse of investments in the 1980s and beyond. Against this background, the study uses recent econometric techniques to critically examine the relationship between FDI and Economic Growth in Nigeria both in the short-run and long-run since the period of Nigeria's political independence to 2012.
The debate for an optimal capital structure among scholars has been fierce. In this heat of global economic meltdown, a strategic financing decision for companies becomes inevitable. Hence, this study is an extension but distinct from prior empirical studies. It stimulates new thoughts of concern on the dynamics of corporate capital structure and what seems optimal for individual firms. It makes up for the paucity of scholarly studies in third world nations on related issues. Also,the findings of this study will foster an effective and efficient financing decision for firms in third world nations. Both consultants and financial analysts will find the study helpful in their financial and advisory services to failing and distressed companies. Likewise, academic scholars as well as students of corporate finance and financial management will find this study helpful in addressing issues in corporate finance relating to corporate capital structure and firms’ market values. Other researchers in related field and discipline will find the study helpful as it will serve as a basis for further study.
Over the past decades, a number of studies have examined China’s economic development by focusing on institutional changes and government interventions at the national or industry levels. But at the firm level, how do the local firms catch up? What’s the technology strategies adopted by them in order to compete against the foreign firms in technology-based industry? Does the existing literature about the catch up process of latecomers are applicable to these new latecomers from China? This research tries to contribute to the emerging research stream on technology creation in one of emerging country, China. In this study, we attempt to explore the different technology strategies adopted by latecomer firms in China. And after that, we investigated whether different technology strategies, expressed in terms of technological innovation capabilities (TICs) have impact on product innovation and firm global performance in Chinese electronic industry. The analysis should help shed some light on this new and exciting phenomenon, and should be especially useful to professionals and scholars who are interested in Chinese business.
Many industrial and emerging markets around the world have witnessed an intense and accelerated process of the consolidation of banks with a view to achieving effective and efficient operations consistent with the best practices of financial services. In Nigeria, the motive of the consolidation exercise was to tackle the crises that engulfed the banks, some of which include mismanagement, fraud, insolvency and under-capitalization. However, the implication of consolidation activity on the financial performance of banks has been one of the defining issues in the consolidation literature that needs to be investigated. This book empirically examines the impact of consolidation on the financial performance of the listed banks in Nigeria. Statistical techniques of data analysis such as bi-variate regression analysis; t-test; the Wilcox-on signed ranked test and descriptive statistics were used. The results show that there is a huge surge in capital availability for banks in Nigeria as a result of consolidation. However, the large amounts of assets placed at the disposal of the management for the operations of the banks in the post consolidation period have not been used efficiently.
The objective of this research is to determine the relationship between budgeting processes and organizational performance of food and beverages manufacturing companies as well as to ascertain the effect of budgeting processes on the performance of the industry. The data were collected through surveys from one hundred managers comprising of top level and middle level managers. The predictors of budgeting processes are; planning, participation, communication, implementation and control whereas the indicators of performance are; Dividend per share, Earnings per Share, Net Asset per Share and Return on Investment. Pearson Product Moment Correlation Coefficient was used to determine the level of association between budgeting processes and organizational performance and it was discovered, that there is a significant relationship between planning, communication, implementation, control and performance indicators whereas there is no significant relationship between participation and performance indicators. The results of regression analyses showed that budgeting processes has a significant effect on Dividend per Share and Net Asset per Share and no significant effect on Earnings per Share
This study discussed the concept of optimization and Lean Six Sigma methods. Lean six sigma methods are a management technique that play significant roles in the maintenance, service efficiency, performance and growth of automobile industry in Nigeria. This study confirmed the significant contribution of lean manufacturing, six sigma and the joint relative of lean six sigma methods on the growth of Nigerian automobile industry. Empirically, the contributions of LSS methods were significant on the aggregate and predicted 40% variation in the growth of automobile industry in Nigeria. The study therefore recommended that automobile companies should view this methods a long-term approach not as a quick stick method.
This book examines the factors which led the Government of Sudan to introduce its privatisation policy in 1990. It explores the implementation process of the privatisation programme, especially the forms of privatisation used and the number of enterprises privatised in each sector. It also identifies the various problems that affected the implementation of the programme. Additionally, the thesis identifies the various impacts that accompanied the implementation of the programme, particularly its economic, social and political consequences.
It has been long recognized that joint ventures (JVs) provide parent firms with an excellent opportunity for learning. This phenomenon is particularly interesting in transition economies, such as Russia, where local governments have promoted the establishment of JVs due to a belief that local firms can benefit from acquisition of foreign firms’ technological and managerial knowledge. However, the JV literature to date lacks empirical evidence of performance implications of learning through a JV for local parent firms in transition economies. Rather, it mainly concentrates on understanding learning outcomes at the JV level. Moreover, the comprehensive empirical tools allowing the full range of these implications to be captured are still underdeveloped. Thus, this thesis fills this gap and examines the performance implications for Russian firms of learning through Russian-Western manufacturing JVs.
Aggregate Economic performance in Nigeria for the past three decades had been poor and disappointing in contrast to the robust economic performance of other developing countries. For instance Nigeria's Real Per capita GDP in 1995 was 260 dollars almost the same as it was in 1972 despite huge investment in the private and public sectors of the economy while the Real Per capita GDP OF South Korea was 3,890 dollars in 1995. Nigerians are poorer today than they were in the 1960's and 1970.s. The study disaggregated capital accumulation into public, foreign and domestic private and empirically measure their impact on economic development and advise policy makers the sector to play leading role in the development process The study use time series data. Group unit root test was carried to ascertain the stationary status of the data in order to avoid spurious regression result. Co-integration and ECM test was also carried out. The result shows a significant positive contribution of Foreign private and positive but insignificant contribution of public and domestic private capital to economic development. The public, private sectors, undergraduate and graduate students are the target.
After the privatization of dairy extension services in 1992, there was an apparent decline and fluctuation in milk production.This book provides an understanding of the smallholder dairy farmers’ perception of the effects of privatization in the sub-sector on dairy production. Understanding farmers’ perceptions on the effects of institutional changes in livestock or crop production systems on their production is key in the process of privatization of agricultural extension services. This information may help farmers to design more sustainable coping strategies in order to boost milk production and address the negative effects of privatization. The government agencies, livestock policy makers and other service providers may also use the findings from the study to improve the dairy production service delivery. It has also provided information that may enhance improvement of market outlets for milk and milk products hence help to alleviate poverty and enhance better nutrition.
The rational objectives of telecommunication industry lie on three important goals, (1) stimulating economic growth and development, (2) creating competitive market, efficiency and productivity for telecommunication industry and (3) developing telecommunication industry with high technology improvement. By undertaking privatization as the engine or development, the study identified and concluded that three goals are mostly and gradually achieved within stipulated periods. Furthermore, such policy is able to generate broader impact on telecommunication industry and its surrounding environment in Indonesia. Since privatization is introduced, telecommunication industry emerges as the leading industry supporting to Indonesia economic growth. Additionally, this also can encourage the increasing performances of PT. Telkom and PT. Indosat. The number of competitors and operators in telecommunication industry is significantly growing. The three points above indirectly benefit for the users and policy makers through increasing nationwide telecommunication network and infrastructure and the affordability of telecommunication service tariff (ICT) for consumers.