Open Access Short Research Article

Impact of Private Domestic Investment on Economic Growth in Nigeria

Obayori, Joseph Bidemi, Robinson, Monday Olulu, Omekwe, Sunday Omiekuma Paul

Asian Journal of Economics, Business and Accounting, Page 1-9
DOI: 10.9734/AJEBA/2018/45698

One of the major economic problems in the developing nation like Nigeria is low domestic investment finance. The vicious cycle of low domestic investment finance as a result of low savings lead to low capital formation and this has become a cankerworm which has eaten deep into the fabric of the Nigerian economy. Despite government policies such as export promotion and bank recapitalization policy at boosting investment, all these efforts have not yielded appreciable results in order for domestic investment to increase economic growth. It is against this back drop that the study examined the impact of private domestic investment on economic growth in Nigeria. The objectives of this study were to; examined how private domestic investment and private sector credits from financial institution affect economic growth. The study covered the period of 1980-2016 with the analytical techniques relying on Kwiatkowski–Phillips–Schmidt–Shin (KPSS) stationarity and Johansen system cointegration tests as well as Error Correction Mechanism (ECM). The result of the KPSS stationarity test showed that the variables are first difference stationary. More so, the Johansen test results for cointegration indicated that the variables are cointegrated and as such have the capability of moving together in the long run. The parsimonious Error Correction Mechanism showed that private domestic investment is significantly related to economic growth. The result indicated that holding other variables, 10 percent increase in the current value of private domestic investment, on the average, stimulates economic growth by 2.08 percent. Similarly, the value of financial sector credit to private sector is positively related to economic growth. On the average, a percent increase in financial sector credit to private sector boost growth in Nigeria by 2.27 percent. Owing to the findings, it is recommended among others that Private domestic investment should be promoted across key sectors of the economy, especially agriculture and manufacturing activities in order to stimulate rapid and sustained growth in Nigeria.

Open Access Original Research Article

Comparison of Factors Motivating Different Levels of Management on Employee Loyalty and Retention in Nigerian Deposit Money Banks

Adedeji, Abosede O., Ugwumadu, Obianuju C.

Asian Journal of Economics, Business and Accounting, Page 1-12
DOI: 10.9734/AJEBA/2018/44245

The Nigerian banking industry is rapidly becoming highly competitive, and employee loyalty and retention have come to the fore of organisational sustainability. This study employed a descriptive survey research design. The population of the study comprised the top level management staff (Managers and above), middle level management staff (Assistant Banking Officers to Deputy Manager) and low level management staff (Senior Executive Trainees and below) of four banks.  The banks are FCMB, UBA, FBN and GTB which are quoted on the Nigerian Stock Exchange. A sample size of 190 was chosen from the population (360) based on Yamane’s Statistical Distribution Formula [26]. The respondents were selected through purposive sampling technique. 118 copies of questionnaire that were correctly completed out of 190 copies were used. Data were analysed using percentages, mean, one way ANOVA and Tukey HSD at 0.05 level of significance. The result revealed a statistically significant difference on factors motivating different levels of management on employee loyalty (0.000) and employee retention (0.000). When employee loyalty factors are compared among pairs of levels, low/middle level and low/high show significant difference while middle/high level did not indicate significant difference (0.206). The result further shows that employee retention factors at low/high level (0.000) and middle/high level (0.037) are significantly different but significantly indifferent for low/middle level (0.066). These results reveal that loyalty and retention factors vary between levels of management. Based on these findings, it is recommended that management should provide level preferred motivating factors to promote employee loyalty and ensure their retention.

Open Access Original Research Article

XBRL - A Tool for Efficient Disclosure of Integrated Corporate Information

N. Abhishek, M. L. Ashoka, M. S. Divyashree

Asian Journal of Economics, Business and Accounting, Page 1-8
DOI: 10.9734/AJEBA/2018/45843

The main duty of every corporate house is to disclose its business affairs to various stakeholders.  Stakeholders are the group of people having direct or indirect interest on the business performance and its positional aspects. To disclose information related to the firm performance and its position it must rely upon a particular mode. In the earlier days the business information was circulated through clay, paper and other unstructured formats such as word, PDF, html etc., these reports are only readable by human but not by machine. This leads to an increase in dependency on the manual process which results in high costs and inefficiency of reports. So there is a necessity to have a structured format of financial reports which are readable by both human and machines. This can be done only through the digital form of the reporting system. One of the available tools to report the corporate information which is readable by both machine and human is XBRL. The present study analysed the benefits of XBRL to various stakeholders and also examined the efficiency in disclosing the integrated corporate information. For this purpose data was collected through primary and secondary sources and collected data were analysed with the help of descriptive and t-t test and found that the XBRL financial reporting is most efficient than traditional reporting and gives wider benefits to all classes of stakeholders.

Open Access Original Research Article

Effects of Systematic Risk Factors on Profitability of Cassava Farming in Zanzibar

Zuhura Mohamed Abdallah, Ali Mohammed Ali

Asian Journal of Economics, Business and Accounting, Page 1-8
DOI: 10.9734/AJEBA/2018/45517

Backbone of Zanzibar economy is farming. Farming contributes much in the form of profitability generated that is influenced by systematic risk factors. This study aim is to find the effect of systematic risk factors on the profitability of cassava farming in Zanzibar. The sales margin is used to measure the profitability of cassava farming in Zanzibar; while real GDP, inflation rate, lending interest rate and broad money are used as systematic risk factors. By using annual time series data from 1985 to 2016, Ordinary least square (OLS) method is employed in running the regression. The finding of the study shows a significant negative effect of the inflation rate, broad money and lending interest rate. Therefore, the Government should closely monitor and prudently manage the systematic risk factors. Moreover, Cassava producers should be aware of the changes in systematic risk factors.

Open Access Review Article

Impact Assessment of Leadership Effectiveness in Public Sector Delivery Process

Ajay Kumar Gautam

Asian Journal of Economics, Business and Accounting, Page 1-5
DOI: 10.9734/AJEBA/2018/45621

The provision of better services has been a foremost goal of a public sector service department, and leadership has been a challenging managerial aspect in public sectors, mainly because the chain of responsibility and answerability is not clear and the process of managerial assessment in service delivery has for long remained a recessive factor. Various researches have provided evidence that leadership can have a positive effect on service delivery in the public sector and thereby, this study has assessed the impact of leadership in service delivery by assessing the betterment of public sector services as a result of leadership in public sectors. After the review of available literature, the study provides a brief but analytical understanding of the leadership traits and how the implementation of these traits can affect the services in the public sector. This provides an effective understanding of role of leadership in service delivery in public sector, creating positive outcomes for effective service provision, better response system and increased efficacy of public sector programs in comparison to the past instances of public sector service delivery.