Capital Structure and Corporate Performance of Selected Firms on the Nigerian Stock Exchange

The capital structure of a firm is very important to the firm's successful operation. The objective of the study was to analyze the effects of Capital Structure on Corporate Performance of selected firms on the Nigerian Stock Exchange in Nigeria from 2011 to 2017. The study employed data from five multinational companies, using Micro Panel data as the estimated technique. Both the Random Effect Model and the Fixed Effect Model were estimated, and the Hausman effect was carried out to determine the appropriate model. The result shows that the effect of liquidity of the firms is negatively related to return on Asset (ROA). Hence, keeping funds in noninterest yielding form does not increase the ROA of the firms. Similarly, the short term debt financing (CLA) is negatively related to ROA. However, there is a positive relationship between long term debt financing and ROA. It noted that short term debt financing requires the payment of the debt in a short term, and this may not be convenient for the firms, and impair their performance. However, repaying long term debt may be convenient, and this may have a positive effect on the performance of the firms. Management of the quoted firms in Nigeria is strongly advised to increase the use of equity capital in financing to improve the earnings of their firms

Development and Evaluation of the Efficacy of a Local Probiotic in Comparison with a Commercial Probiotic in the African Catfish, Clarias gariepinus

Probiotics are mono or mixed cultures of live organisms which improve the host’s health status and indigenous flora properties. The use of probiotics in enhancing growth and as replacement for synthetic growth promoters in animal health management and nutrition has been scientifically proven. This study was carried out to evaluate the intestinal flora of the African catfish, Clarias gariepinus for probiotic properties, develop suitable probiotic formulation/s from them; and evaluate the efficacy of the developed probiotic for promoting growth and health in the African catfish in comparison with a commercial probiotic, Mito yeast. Laboratory screening of the gut Microflora of cultured C. gariepinus using standard methods revealed Lactobacillus plantarum as a viable organism with probiotic properties. Lactobacillus plantarum (Accession no: KP 410238) was thereafter cultured, processed and included as supplement in the diet of C. gariepinus and evaluated for growth and health enhancement capability. Experimental diets (TD1, TD2, TD3, TD4) were supplemented with the developed probiotic containing L. plantarum (109 CFU/g) at 0, 0.25, 0.5 and 1% respectively, while TD5 was supplemented with 0.5% MY-500 (MitoYeast) containing Saccharomyces boulardii culture (2x109 CFU/g). Growth performance, measured by body weight gain, BWG; specific growth rate, SGR and metabolic growth rate, MGR; and nutrient utilization (protein efficiency ratio (PER), feed conversion ratio (FCR) and feed efficiency, FE) were significantly different (P < 0.05) in treatments with varied levels of probiotics’ inclusion compared to the control diet. Hematological effects as indicated by Packed Cell Volume, Hemoglobin, Red Blood Cell count, White Blood Cell Volume, Mean Corpuscular Volume, Mean Corpuscular Haemoglobin Concentration and Platelet count showed an increase in fish fed probiotic-supplemented diet treatments compared to control, but the effects were not significantly different (P ≥ 0.05), and values were within recommended levels. This suggests that the developed probiotic has no negative impact on the health status of C. gariepinus. This study concludes that dietary inclusion of probiotics in C. gariepinus diets improved growth and nutrient utilization in the fish; and had no adverse effect on its health status. Lactobacillus plantarum, a naturally occurring microorganism present in the gut of C. gariepinus was identified and confirmed as a viable probiotic agent in the species

BIG DATA AND REAL ESTATE: A REVIEW OF LITERATURE

The concept of big data though relatively new has brought a lot of solutions to modern day challenges. Many authors, particularly in developed countries, have adopted the concept in tackling the numerous challenges unfolding in the real estate profession. However, most of the findings from these authors are on individual bases and as such, there is a need to reach a general consensus on the relevance of big data to the real estate profession. The review shows the impact of big data to include digitization of records, information on user preferences, sensor information on the urban environment and sensor information on movement. The paper concludes that the relevance of big data to the real estate profession cannot be over-emphasised

Evaluation of improved cassava genotypes for yield and related traits for a better breeding strategy under different agroecologies in Nigeria

Open Access Article; Published online: 29 Mar 2021This study aimed at determining shoot and root characteristics of cassava as affected by root yield and the influence of soil moisture on vegetative growth and yield. Thirty cassava genotypes were evaluated for morphological and physiological characterization in three locations in Nigeria: Ibadan, Mokwa and Zaria. Randomized complete block design was used with four replicates. Studies on the pasting properties of the genotypes were also carried out. Data were collected on plant height, stem girth, stay-green ability, garri and fresh root weight. Genotypes differed significantly (P < 0.05) across and within locations for shoot and root characteristics. Across locations, genotype 011663 had the highest plant height (132.4 cm); 30572 had the largest stem girth (8.6 cm); and 010040 was the best stay-green (2.2). Genotype 011086 had the highest number of roots per plot (95.7), 950289 had the highest fresh root yield (24.3 t/ha), and 990554 had the highest percentage of dry matter (35.2). Trends in root yields across locations were Ibadan (28.9 t/ha), Mokwa (20.3 t/ha), and Zaria (8 t/ha). Five genotypes IITA-TMS-IBA950289, 010034, 990554, 011807, and 980581 had negligible interactions with the environment and so have broad adaptation and are considered stable; and two clones 011807 and 950166 were found to be the best for pasting properties. Breeding strategies that consider root size, total root number, harvest index, dry matter, with applications for household foods and industrial uses, will be an effective and efficient way to select genotypes for high yield

Global disparities in surgeons’ workloads, academic engagement and rest periods: the on-calL shIft fOr geNEral SurgeonS (LIONESS) study

: The workload of general surgeons is multifaceted, encompassing not only surgical procedures but also a myriad of other responsibilities. From April to May 2023, we conducted a CHERRIES-compliant internet-based survey analyzing clinical practice, academic engagement, and post-on-call rest. The questionnaire featured six sections with 35 questions. Statistical analysis used Chi-square tests, ANOVA, and logistic regression (SPSS® v. 28). The survey received a total of 1.046 responses (65.4%). Over 78.0% of responders came from Europe, 65.1% came from a general surgery unit; 92.8% of European and 87.5% of North American respondents were involved in research, compared to 71.7% in Africa. Europe led in publishing research studies (6.6 ± 8.6 yearly). Teaching involvement was high in North America (100%) and Africa (91.7%). Surgeons reported an average of 6.7 ± 4.9 on-call shifts per month, with European and North American surgeons experiencing 6.5 ± 4.9 and 7.8 ± 4.1 on-calls monthly, respectively. African surgeons had the highest on-call frequency (8.7 ± 6.1). Post-on-call, only 35.1% of respondents received a day off. Europeans were most likely (40%) to have a day off, while African surgeons were least likely (6.7%). On the adjusted multivariable analysis HDI (Human Development Index) (aOR 1.993) hospital capacity &gt; 400 beds (aOR 2.423), working in a specialty surgery unit (aOR 2.087), and making the on-call in-house (aOR 5.446), significantly predicted the likelihood of having a day off after an on-call shift. Our study revealed critical insights into the disparities in workload, access to research, and professional opportunities for surgeons across different continents, underscored by the HDI

A Users' Awareness Study and Influence of Socio-Demography Perception of Anti-Phishing Security Tips

Security tips are now used as a method of priming online users from falling prey for fraudulent scams. These security tips usually come as email, SMS or online posts where they can be easily accessed by the users. In this work, phishing attacks are simulated with varying cues that are available in such fraudulent email messages, SMS and web pages were used to investigate the effectiveness of the security tips used by Nigerian banks to prime their customers of online threats. A total of 427 respondents, purposively selected from three tertiary institutions in Ogun State, participated in the study. Each respondent was asked to identify five messages with varying phishing cues to evaluate their understanding of the security tips messages. The results which were computed at 95% Confidence Interval, indicated that 58.91% failed on the first attribute, 58.59% failed on the second attribute while 58.73% failed on the third attribute. 74.24% of the participant could not correctly identify a fake email message (fourth attribute) while 76.71% could not correctly identify a phished bank verification number update message (fifth attribute). Using the Mann Whitney Test, the result further showed that overall, those who failed the test are significantly more than those who passed. Moreover, a regression model is proposed to evaluate the influence of the socio demographic factors used in the study. This result indicated that gender, academic qualification and user's computer knowledge significantly influences their ability to recognize phished messages

An empirical evaluation of security tips in phishing prevention: A case study of nigerian banks

To shield users from phishing scams, various online brands send security tips as email, SMS and online posts to their customers. This paper presents the first empirical evidence about the effectiveness of the security tips in phishing prevention from customers' perspective in Nigerian financial sector. We developed anti-phishing questionnaire which captured the basic essence of most security tips messages and formulate two hypotheses. We then test our hypotheses using an experimental method with 247 participants. The experimental method was divided into a Pretest which evaluates our first hypothesis and a Posttest which evaluates our second hypothesis. The results illustrate that most customers do not understand the security tips at statistical confidence interval of 95% using the Mann Whitney Test

SARS-CoV-2 vaccination modelling for safe surgery to save lives: data from an international prospective cohort study

Background: Preoperative SARS-CoV-2 vaccination could support safer elective surgery. Vaccine numbers are limited so this study aimed to inform their prioritization by modelling. Methods: The primary outcome was the number needed to vaccinate (NNV) to prevent one COVID-19-related death in 1 year. NNVs were based on postoperative SARS-CoV-2 rates and mortality in an international cohort study (surgical patients), and community SARS-CoV-2 incidence and case fatality data (general population). NNV estimates were stratified by age (18-49, 50-69, 70 or more years) and type of surgery. Best- and worst-case scenarios were used to describe uncertainty. Results: NNVs were more favourable in surgical patients than the general population. The most favourable NNVs were in patients aged 70 years or more needing cancer surgery (351; best case 196, worst case 816) or non-cancer surgery (733; best case 407, worst case 1664). Both exceeded the NNV in the general population (1840; best case 1196, worst case 3066). NNVs for surgical patients remained favourable at a range of SARS-CoV-2 incidence rates in sensitivity analysis modelling. Globally, prioritizing preoperative vaccination of patients needing elective surgery ahead of the general population could prevent an additional 58 687 (best case 115 007, worst case 20 177) COVID-19-related deaths in 1 year. Conclusion: As global roll out of SARS-CoV-2 vaccination proceeds, patients needing elective surgery should be prioritized ahead of the general population