The contribution of stock market to economic growth is crucial for countries where incomes and hence domestic savings are particularly low, like Nigeria. They needed external capital for investment and to promote their economic growth and development. A country with relatively strong and robust stock market attracts more and rapid economic growth and development than one with weak and fragile stock market. This research study examines the economic analysis of impact of stock market on the economic growth in Nigerian economy between 1981 and 2020. The study used vector error correction model(VECM) to determine the relationship between economic growth and some key indicators of stock market. ADF Unit root and Johansen Cointegration tests were conducted on the time series data used for this study to ascertain if they are stationary and cointegrated to avoid spurious regression and correlation associated with non-stationary time series variables. The tests reveal that all the variables; (GDP,MCAP, TLEGS, TNI , and TVTS) were non-stationary but integrated of order one i.e. I(1). Results show that indicators of stock market( MCAP, TVTS,TLEGS,TNI) had positive impact on economic growth. Except coefficient of TVTS that was statistically insignificant at 0.05, findings reveal that the coefficients of all other explanatory variables(MCAP, TLEGS and TNI) were statistically significant at 5 per cent. The coefficient of error correction term was rightly signed and significant. The pairwise granger causality tests show bi-directional causalities between each of (MCAP, TLEGS, TNI) and economic growth and vice-versa but no causality running from TVTS to economic growth and vice-versa. Based on these findings, this study recommends among others that a better and functional intuitions must be in place. This is to oversee institutional and regulatory reforms in the stock market.
The purpose of this study is to investigate the impact of dividend yield & payout on the stock prices of quoted banking, petrochemicals and food & beverages firms in Nigeria. Data was extracted from the audited financial statements of the nine selected firms and two Nigerian Newspapers and data extracted was subjected to econometric testing using Panel Least Squares method and the Panel Estimated Generalized Least Square (EGLS) to correct violations of assumption of Classical Linear Regression Model (CLRM). Findings shows that dividend payout ratio positively affects share prices of the nine selected quoted firms, whereas dividend yield possesses an adverse effect on share prices of the nine selected quoted firms in Nigeria. On the other hand, increase in firm size possesses an adverse effect on share prices of the nine selected quoted firms in the case of Nigeria. Recommendations and policy options relevant to firms and stakeholders at large were proffered herein.
The effects of environmental, social and governance (ESG) imperatives on the performance of mortgage banks were empirically investigated using 2015 – 2020 data from audited annual reports of three listed Nigerian mortgage banks. Value added, profitability, earnings per share, productivity, and size measured performance. Social cost and stakeholder theories underpinned the research. Purposeful sampling technique was adopted based on data availability on all the studied variables within 2015 - 2020. Multivariate analysis of covariance (MANCOVA) was used in testing the three key hypotheses formulated with the aid of statistical package for social sciences (SPSS). The study established that:(i) environmental imperative did not have significant effect on the performance of sampled banks within the period under study while social and governance imperatives did; (ii) when environmental, social and governance imperatives are held constant; the sampled banks witnessed significant decrease in their value added, profitability, and earnings per share while the effects on productivity and size were divergent among the three banks. All the multivariate tests show that ESG aggregate performance has significant positive effect on the performance of listed mortgage banks in Nigeria within the period under study. The study quantitatively established the relevance of social cost and stakeholder theories in ESG framework; and recommends that further research be carried out on the effects of environmental, social and governance imperatives on the productivity and size of listed mortgage banks in Nigeria since the results are mixed. Practically and policy wise, the study calls on business decision makers to optimize environmental costs for the sustainability of businesses.
The incorporation of the social, environmental, and economic dimensions of sustainability in different aspects of human life and business provides a guarantee for our future. Organizations have shown a great interest in incorporating sustainability into managerial concepts, both at the strategic and operational levels. Sustainable business strategies are being implemented in many projects, which has led to a recent expansion of interest in exploring the potential of integrating sustainability dimensions in project management. With the intention of contributing to a better understanding of sustainable project management, the ultimate aim of this study is to explore the practice of project management principles in the Sustainable Development Goals (SDGs) 17 partnership and it is supported by certain outlined objectives. It also surveys the level of integration of sustainability dimensions in groups of project management processes. Considering that the incorporation of sustainability in project management poses numerous challenges for project managers, this paper examines the necessary knowledge and skills required for sustainable project management in different sectors of the SDGs. As part of this research, an empirical survey was conducted in project-oriented organizations from both the public and private sectors. The findings reveal that the application of project management methodologies promotes the introduction of sustainability dimensions and enhances partnership, particularly the social aspect, irrespective of the sector, since the processes in projects managed by a specific methodology are consistent with the social elements of sustainability. In the public sector, there is a noticeable lack of knowledge of the meaning and dimensions of sustainability and, accordingly, an urgent need for project managers to gain knowledge and skills pertaining to sustainable project management. Hence sustainability combined with Project Management among the SDGs can be beneficial in many ways. The study proved that the practice of sustainable project management among the SDGs in different organisations have positive impacts and hence must be propagated in other to meet with the global partnership for goals and the 17 SDGs by 2030.
As a result of recent hyper competition in the banking sector of Africa particularly in Ghana, it is required of employees to put their emotional labour into the work. In effect, employees are obliged to be someone else through manipulation of their emotions. However, studies have not been able to establish whether this manipulation of employees’ emotions to conform to these organisational requirements brings about job satisfaction or not, especially in the banking sector of Ghana. The paper, therefore, examined the effect of emotional labour on job satisfaction of bank employees. In using questionnaire, data were collected from 140 bank employees. Structural Equation Modelling through SmartPLS was used to analyse the data. Analyses revealed that indeed employees at the banking sector of Ghana exhibit emotional labour but as to whether it gives them job satisfaction or not depends on the type of emotional labour they are exhibiting. Recommendations were, therefore, made on which of the dimensions of emotional labour that management or supervisors at the banking sector should pay more attention on to bring about satisfied workforce.
This study examines the impact of CEO characteristics on financial performance of listed insurance companies in Nigeria. The study utilizes documentary data collected from annual reports and accounts of the sampled companies for the period 2016 to 2020. Ordinary Least Square (OLS) technique was used in analyzing the data. Findings from the study shows that CEO gender and CEO share ownership have significant positive impact on financial performance of the firms. An insignificant positive impact was also recorded between CEO level of education and firm financial performance. Based on these findings, the study concludes that CEO characteristics drive financial performance of listed insurance companies in Nigeria. On the basis of this conclusion, the study recommends among others that emphasis should be given to males when hiring CEOs and also CEOs of listed insurance companies in Nigeria should be encourage to own more shares in the companies they are managing.
The study investigated the asymmetric effects of fiscal policy on economic growth in Anglophone countries of the Economic Community of West Africa States (ECOWAS). The annual panel data of Anglophone countries were used from 2005 to 2018. In doing so, the study employed a Structural Vector Autoregressive (SVAR) approach to extract the fiscal policy shocks series. The result showed that, in the long run, the asymmetric effect of government expenditure on economic performance follows a significant inverted U-shape while in the short run, the effect follows a non-significant U-shape. The government revenue follows a significant U-shaped in the long run while in the short run, it follows a non-significant linearity pattern.
The formation of the digital economy puts on the agenda the issue of training personnel with new competencies and qualifications that meet its challenges and requests. The paper deals with the transformation of the labor market and labor relations under the influence of the fourth industrial revolution. The problems that the labor market will face in the context of the digitalization of the economy have been studied. The factors influencing the dynamics of unemployment are revealed. The processes of changing the relationship between workers and employers in connection with the expansion of the scale of the digital economy are analyzed.
Global environmental conservation is a non-negotiable goal for all governments on the planet. As a result of the depletion of natural resources, a number of environmental challenges have arisen. Eco-friendly items are not damaging to the environment, and they also aid in the reduction of concerns, particularly those related to health, as well as the development of green thinking and social responsibility. The aim of the study is to understand the socio-economic conditions of the Eco-friendly products used consumers and the reflections of consumers towards the Eco-Friendly products. Only eco-friendly product users were chosen as a sample response for the study. The findings suggest that there is a favorable association between occupation, education, and the buying of environmentally friendly products. To promote and enhance the purchasing behaviour of eco-friendly items, more and more campaigns and advertisements were required. Environmentally friendly products are purchased based on their attributes, and their use can lessen adverse impacts on humans and the environment. Psychological, social, cultural, economic, and personal aspects all influenced people's attitudes toward environmentally friendly items.
The study investigated and evaluated the status of linkage relationships in the production and marketing of Tuyen Quang province's Ham Yen Orange, in Vietnam. The survey results of 60 orange-growers show that the percentage of households participating in linkage relationships is still low, the forms of association are still simple and not tight. A survey of 30 orange businesses also shows that the linkage between actors involved in the marketing of Ham Yen Orange is still loose. The forms of buying and selling transactions are mainly oral agreements. There are few constraints on the responsibilities of parties involved in the product supply chain. Business involves many risks and uncertainties. High rate of damaged and lost products. Prices and sales volume are unstable and unsustainable. The SWOT analysis shows that there are many advantages and opportunities for developing linkages in production and marketing of Ham Yen Orange. But besides that, there are many difficulties and challenges that need to be solved. On the basis of the assessment of the situation and SWOT analysis, the study has proposed solutions for each actor in order to strengthen the linkage relationships in the production and marketing of Tuyen Quang province's Ham Yen Orange.
