Stock market liquidity and economic growth in Nigeria (1980 to 2012)

This study examined the impact of stock market liquidity on economic growth of Nigeria between the years 1980 and 2012. With the use of EViews 5.0 econometric software, tests for stationarity using the Augmented Dickey- Fuller approach was carried out while the ordinary least square (OLS) technique was employed to estimate the basic model specified for the study. The result of the analysis of data revealed that variables were stationary at their first difference while the Johansen co-integration approach confirmed the existence of co-integrating relationship at the 5 percent level of significance. The study found, surprisingly, that stock market liquidity was not a statistically significant variable explaining economic growth in Nigeria for the periods under study

CORPORATE SOCIAL RESPONSIBILITY AS A TOOL FOR GAINING COMPETITIVE ADVANTAGE

The profit maximization objective of business organizations have created business environments where managers are expected to solely achieve this objective regardless of the influence their business has on the society they operate in. Corporate social responsibility encompasses the business organization’s economic, legal, ethical and philanthropic expectations placed on the organization by the society. While many scholars and managers view CSR as a waste of a business’ resources, advocating that the sole aim of an organization is to maximize profit, and that managers are not well trained to perform CSR activities, other scholars and managers have deeply studied and promoted the benefits of CSR, one of which is the ability of CSR activities to serve as a strategic tool for gaining competitive advantage, especially in small businesses in Nigeria that face steep competition from established international organizations that benefit from economies of scale and are able to provide the same goods and services to consumers at a cheaper price and sometimes better quality. This study adopts a case study methodology in analyzing the strategic benefits derived by house of TARA, a small businesses operating in the beauty and make-up industry in Nigeria as a result of the CSR activities initiated and implemented by its management team.House of Tara has grown from a door to door makeup business to a major player in the beauty and makeup industry in Nigeria and other West African countries. Based on this study, it is concluded that CSR does have a strategic role in gaining competitive advantage such as consumer (external) and employees’ (internal) loyalt

Forms and determinants of sexual abuse among female child hawkers in Uyo, Nigeria

Background: Female hawkers are exposed to numerous hazards including sexual abuse. This study aimed at assessing the prevalence, forms and determinants of sexual abuse among female child hawkers in Uyo, Nigeria.Methods: This was a cross-sectional descriptive study carried out among female child hawkers in Uyo, Nigeria. Data was collected using an interviewer-administered structured questionnaire and was analyzed with IBM SPSS Statistics 20.0 software. Level of significance was set at 0.05.Result: A total of 172 respondents participated in the study. The mean age was 12.9±2.3 years. School dropout rate was 11.6% among respondents. Commonest reasons for hawking included family support (66.8%), feeding (22.1%) and generating school fees (11.1%). Prevalence of any form of sexual abuse was 76.2%. Forms of sexual abuse reported included verbal abuse (54.1%), inappropriate touching (56.4%), kissing (14.5%), intercourse due to enticement (18.0%) and rape (12.2%). The commonest reason for sexual act among those enticed was monetary gains, (64.5%). Consequences of sexual abuse included STI (13.5%), pregnancy (5.8%) and abortion (5.8%) respectively. Predictors of any form of sexual abuse included being aged 14-17 years (OR =14.70, 95%CI=2.05-105.14, p=0.007), being a dropout (OR=7.37, 95%CI=2.21-24.59, p=0.001) and being from social class V (OR=23.44, 95%CI=1.13-401.67, p=0.031).Conclusion: There was high prevalence of sexual abuse ranging from inappropriate touching to rape. Predictors of sexual abuse included age, being a dropout and of low socio economic class. Enlightenment campaigns on risks of female child hawking, establishment of skill acquisition centres and free education to secondary level are advocated.Keywords: Female hawkers; Sexual abuse; Rape; Determinants; Uyo; Nigeri

Organizational Culture and Performance A case study of Covenant University, Nigeria

Every organization has set objectives that mark its essence of existence, the achievement or otherwise of these objectives is dynamically subject to the aptitudes, learning, capacity and the fundamental trademark representing the organization. The basic trademark here dives genuinely deep into the continuing piece of the organization: the qualities and convictions administering its individuals. This study aims at examining how the aggregate qualities, convictions and standards of the people in an organization generally affect the organization’s ability to meet and surpass its set objectives. This conceptual paper breaks down the achievement of Covenant University, Nigeria, which in spite of the challenging Nigerian business environment described by absence of foundations, infrastructure, unfavorable government strategies, and high inflation rate, has seen huge development and improvement in the twelve years of presence as displayed by its position as the number one University in Nigeria and 15th in West Africa according to the 2015 Webometrics Rankings of Universities. It is observed that the success of the University is as a result of the core values of the organization, which has trickled down from the entrepreneur to every level of management, teaching and non-teaching staff and which is duly enforced on the students of the University

ICT and Gender Specific Challenges Faced by Female Entrepreneurs in Nigeria

The accepted “gender” generalization in the Nigerian society expects a female to be dominantly a homemaker and not engaged in stressful, high-risk business activities, generalized as entrepreneurial activities. This has hindered many Nigerian female entrepreneurs from starting, running and growing successful business enterprises, as they face many political, economic and social obstacles in the society as highlighted by the feminist theory. Following the resource-based theory; this study highlights the importance of a nation to fully utilize all its resources including women who constitute 49% of Nigeria’s population. Through case study research of two successful female entrepreneurs in Nigeria, this study established that ICT does have a positive influence in tackling the challenges faced by female entrepreneurs, as the two successful female entrepreneurs studied, highlighted in their interviews how they gained advantage in the business world by the use of various ICT tools. From the case study analysis, a framework was created to serve as a yardstick for measurement of successful female entrepreneurship. It is anticipated that the insights developed in this study will be beneficial both by female entrepreneurs across developing countries and the world at large, and in effective program development by policy designers

A Review of the Impacts SMEs as Social Agents of Economic Liberations in Developing Economies

1/w hene.f/ts 1!1 o hooming .\ 1//~ sector can be seen in the creation of a sound industrial hm,· for an emerging eumonn It rang!'~ .fi"om the prm·iswn of' employment, sources of subsistencl'. ,·,luiwble distrthution of IIK0111es to its citi::ens. to deployment of domestic savings for investments. It ul.111 include. bw not limited. to the increase in capital financial gains. important contribution to Cross I >omestic Product (CIJI'i lwrnessing c1{ natil·e raw materials. curtailing rural-urban migration and efficient uti!i::ation o(a nation·.\ resource. as can b~ seen in the case of Taiwan. South Korea, Singapore. <'t( These are cowuries that were huilt on a d\'namic SML sector 1/owever. many less developed economies /w,·e not bel'n a hie to jullt· utili::e the 111cmv henejits of this sl'ctor. perhaps due to ignorance. This revietr <'\llmined the ntenlto which these .1ocial agems (S\1/~s) which hm·e libera!i::ed several economies oflhe d, l'e!opl'd coumries. such as the { nitecl States. { nited 1\ ingdom. Wider Europe and the BRICS countrh ' 1 Bra:: if. R11.11i11. India. ( 'llina wul So111h .lji-icaJ is being treated with levity within the developing econnlllll'.\. The sttu!r howet'l.'r. focuses 011 the .)',\/Es operating within the Nigerian state. It employed in its ennrety !he re1•ie1r ofsecondw:t· duta , 1171/findings revealed a plethora of issues. Of note was the facl that despite the benefit~ of this l'ihrulll sector to the \'igerian economy. the government policies, infrastructures. finances ammtgst others are not Jhl'omble for its gr01111t all(/ sustainability. The authors recommend that the 1\igerian gm·~mlll<'llt as well os gm·emme/11 of other developing economies must invest substamial!t·to the growth. de,·elollllte/11 011(/ sustainohility of SM!~·s through the provision of essential inji·a.1tructures. 1111111111111 er. microfiiiWICI'. 1·ecurin• am/ adequate po!inji-cunework

An Analysis of Institutional Environments on Corporate Social Responsibility Practices in Nigerian Renewable Energy Firms

Several studies have proposed a one-size fit all approach to Corporate Social Responsibility (CSR) practices, such that CSR as it applies to developed countries is adapted to developing countries, ignoring the differing institutional environments (such as the regulative, economic, social and political environments), which affects the profitability and practices of businesses operating in them. CSR as it applies to filling institutional gaps in developing countries, was categorized into four themes: environmental protection, product and service innovation, social innovation and local cluster development. Based on the four themes, the study employed a qualitative research approach through the use of interviews and review of available publications to study the influence of institutional environments on CSR practices engaged in by three renewable energy firms operating in Nigeria. Over the course of three 60-minutes sessions with the top management and selected workers of the firms, four propositions were made: regulatory environment influences environmental protection practice of Nigerian renewable firms, economic environment influences product and service innovation practice of Nigerian renewable energy firms, the social environment impacts on social innovation in Nigerian renewable energy firms, and political environment affects local cluster development practice of Nigerian renewable energy firms. It was also observed that beyond institutional environments, the international exposure of an organization’s managers reflected in their approach to CSR. This finding on the influence of international exposure on CSR practices creates an area for further study. Insights from this paper are set to help policy makers in developing countries, CSR managers, and future researcher

Corporate Social Responsibility as a Determinant of Sustainability of Small Medium Enterprises (SMEs)

In the pursuit of profit maximization as a major objective of business organizations, several firms forfeit their social and economic responsibility whilst focusing on activities that are deemed to solely profit the firm, without taking into cognizance the effect of their operations on the society in which they operate. Business analysts have however, realized the determinant role of social responsibility in corporate performance, such that firms that are able to imbibe corporate social responsibility in their core business operations may be able to take advantage of the social reputation gained across their several stakeholders. Small and medium enterprises operating in highly competitive markets are also advised to leverage on this reputation gained from being socially responsible, if they seek ways to remain relevant in the same markets dominated by multinational corporations. Adapting a case study approach, this study highlights the advantages (such as employee and customer loyalty) gained by House of Tara, a small business operating in the beauty and make-up industry in Nigeria, resulting from the firm‘s commitment to advancing the society in which it operates through several social responsibility activities. It is observed that although competing with major makeup brands such as MAC, Maybelline, Dior, Mary Kay and others, House of Tara has been able to not only thrive, but gain a sizeable market in the Nigerian makeup industry, because several consumers purchase their products not solely because of the quality or price of their product, but because they perceive themselves as buying into the firm‘s CSR vision. This study therefore recommends that small and medium enterprises that may lack adequate resources (manpower, technology, capital) needed to successfully compete with multinationals, can harness the potentials in the reputation and loyalty gained from adequate investment in corporate social responsibility