Modeling the effect of Capital Market: Empirical evidence from Nigeria.

This study takes a look at resource mobilization for long term economic development, an insight into the role of the Nigerian capital market. We attempted to model the effect and importance of the Nigerian capital market, as a veritable source of medium and long term development. The data collected were from the Central Bank of Nigeria statistical bulletin and the Security and Exchange Commission from the period of 2001 to 2010. The SPSS statistical tool was used to analyze the data. The economic development was proxy by gross domestic product (GDP), while the capital market variables considered included the annual market capitalization (AMC) and the total volume of transactions (TVT). Findings revealed that there was a positive relationship between the capital market activities and gross domestic product, although the relationship was not statistically significant. It is thus recommended that the more fundamental issue of building investor confidence must be addressed through transparency, fair trading transactions, political stability and social security; stringent requirements for entry into the market should be relaxed and adequate publicity should be given to the activity of the capital market. It is believed that when these recommendations are implemented, the impact of the capital market on the economy will become more significant. Keywords: Gross Domestic Product, Resource mobilization, Market Capitalization, Capital market

Entrepreneur’s Nightmare – Corporate Failure: Consequences and Probable Solutions

The main objective of this study is to determine the causes, effects and problems that lead to frequent corporate failure in Nigeria and to proffer possible solutions. In effecting this  work, we used questionnaires administered to prospective investors, owners of selected firms in Delta State and a cross section  of customers drawn randomly, interviews with some  key management staff of the selected firms, as well as related published and unpublished data of the firms. We analyzed the data and information obtained using regression and correlation analyses through SPSS statistical software. It was observed that some of the problem militating against production firms that leads to their failure in Nigeria could have been averted through capital restructuring and proper financial portfolio. In view of the findings and outcome of the tested hypotheses we advance as one of the recommendations that Monetary authorities and National Economic Reconstruction Fund (NERFUND) could give lighter conditionality and, fund assistance as well as eligibility for firms enlistment into the Nigeria Stock Market (going public), this would enable entrepreneurs evolve effective growth policies, as well as fund mobilization that would gear up their capital base and help avert possible causes of failure. Keywords:Corporate failure, Capital base, Capital restructuring, Corporate growt

Strategic Intent and Organizational Performance: A Study of Banks in Asaba, Delta State Nigeria

This study was on strategic intent and organizational performance in the banking industry. The purpose was to identify how strategic intent and it dimensions relates with organizational performance. The design of the study was cross-sectional survey.   A self-report questionnaire was used for data collection. Two hundred and one respondents make up the study sample. The sample consists of 132 (65.5%) male and female 69 (34.5%). The respondents age ranged between 25 and 58 years. Data analysis rejected all the hypotheses tested. It was observed that strategic intent and its dimensions (mission, vision and objectives) significantly and positively  relate with organizational performance. In addition, analysis of effect size revealed that strategic intent account for 34 percent variance in organizational performance. Mission dimension of strategic intent explained 47% variance in organizational performance, vision dimension of strategic intent explained 19% variance in organizational performance, and objective dimension of strategic intent explained 58% variance in organizational performance. It was concluded that overall strategic intent positively and significantly relate with organizational performance and that the various dimensions of strategic intent vary in the degree of variation they account for in organizational performance. It is recommended that founders of, and those who formulate policy and strategy for organizations reflect strategic intent in the organizational mission, vision and objectives. Further study should examine the intervening variables in the relationship. Keywords: Strategy, Strategic Intent, Mission, Vision, Objectives, Organizational Performanc

Workforce Diversity and Organizational Effectiveness in Nigerian Brewery Industry

The study is aimed at assessing the effects of workforce diversity on organizational effectiveness in Brewery industry using selected Breweries. Workplace diversity is a multidimensional and multi-faceted concept that will continue to evolve as more industries move toward the global marketplace. Survey research design method was employed, stratified sampling method as well as simple random sampling was used. Linear regression and correlation analysis was employed for the analytical purpose to review the nature of statistical significance among variables. The findings show that there is a significant positive relationship between the variables of workforce diversity and organizational effectiveness; in particular cultural diversity was found to be more effective, also Team building & group training-which mediates between workforce diversity and organizational effectiveness. The study concluded that any organization-whose leaders and policy makers are pragmatic, perspicacious and pertinacious, Team building & group training in line with good diversity management will act as panacea to the cankerworm of low employee performance that have set the bottom figure of most organizations balance sheet in bracket. We therefore recommend that for breweries to improve in innovation and creativity, managers and organizational leaders should ensure that diversity-related issues are well managed, and that breweries should create diversity managers in their companies, who are saddled with the responsibility of ensuring that organizational effectiveness is maintained. Keywords: Diversity, Gender Diversity, Ethnic Diversity, Workforce Diversity, Organizational effectiveness

James Maurelle: On-Site

Catalog for solo art exhibition On-Site by James Maurelle, at the CUE Art Foundation in New York, NY from September 17th through October 23rd 2021. The exhibition was curated and mentored by Odili Donald Odita. It consists of sculptures and prints crafted from materials such as wood, metal, and found objects that weld form and function with Black cultural histories. Through a formal engagement with a vernacular derived from Black American traditions of making and African woodworking traditions, the work celebrates methods of defiance and achievement in the face of oppressive systems and structures, speaking to what Odita refers to as “the poetics of Black people and the Black experience. Artist Statement: There is a correlation formed between labor and creativity, at the center of this byway is the heart of my practice. Building objects are not unlike creating music compositions, the accompaniment, i.e., tools and materials, are a call and response to creativity. The rubric to complete any composition is to know ones’ instrument(s)/tools; the creative process is based on this reciprocal understanding. Jazz is the primer which propels the work, the tone/feel of every composition is in direct association with the culture. Every object I compose is a physical versioning of a historic recording or happening, every tool used is an augmented scale referencing an industrial progression. The materials (wood, metal, plastic, film) are the staff paper, and every committed strike upon these materials forms a note or chord. The fluidity connecting mind, hand, and tools are based on the augmented triad which is the cornerstone of my work ethic. The main objective is to continue creating full-bodied compositions, as long as the staff paper flows, I will inscribe upon it. Artwork photography: Karen MauchCatalog design: Lilly Hern-Fondatio

PENGARUH PROFITABILITAS, LEVERAGE DAN KEBIJAKAN DIVIDEN TERHADAP NILAI PERUSAHAAN FOOD AND BEVERAGES YANG TERDAFTAR DI BURSA EFEK INDONESIA

Nilai perusahaan merupakan persepsi investor mengenai tingkat keberhasilan suatu perusahaan, nilai perusahaan dalam penelitian ini diproksikan dengan menggunakan Price Book Value (PBV). Penelitian ini bertujuan untuk mengetahui pengaruh profitabilitas yang diproksikan dengan menggunakan Return On Assets (ROA), leverage yang diproksikan dengan menggunakan Debt to Equity Ratio (DER) dan kebijakan dividen diproksikan dengan menggunakan Dividend Payout Ratio (DPR) terhadap nilai perusahaan food and beverages yang terdaftar di Bursa Efek Indonesia periode tahun 2014 – 2018. Populasi dalam penelitian ini adalah perusahaan yang terdaftar di Bursa Efek Indonesia yang tergabung di dalam sektor food and beverages sebanyak 15 perusahaan. Pengambilan sampel yang digunakan dalam penelitian ini adalah metode purposive sampling dan berdasarkan dengan kriteria yang ditentukan maka diperoleh sampel sebanyak 7 perusahaan food and beverages yang telah terdaftar di Bursa Efek Indonesia. Metode analisis yang digunakan untuk penelitian ini adalah analisis regresi linier berganda dengan alat bantu aplikasi SPSS (Statistical Product and Service Solutions) versi 25. Berdasarkan hasil penelitian ini menunjukkan bahwa profitabilitas dan leverage berpengaruh signifikan terhadap nilai perusahaan, namun kebijakan dividen tidak berpengaruh signifikan terhadap nilai perusahaan food and beverages yang terdaftar di Bursa Efek Indonesi

Application of Budgeting Techniques in Fiscal Institutions in Nigeria

The purpose of this study was to examine the Application of Budgeting Techniques in Fiscal Institutions in Nigeria. The study specifically examined the level at which efficient budgeting techniques improves the revenue of fiscal institutions. The relationship between the budgeted recurrent expenditure and the actual recurrent expenditure is statistically significant and the relationship between the budgeted capital expenditure and the actual capital expenditure is statistically significant. The ex-post facto research design was used in this study and the purposive sampling techniques were also employed. The statistical techniques adopted for this study was the regression analysis via the use of SPSS statistical technique, which was used to test the hypothesis, which led to the rejection of the three null (H0) hypotheses postulated and the acceptance of the alternate hypothesis. The research work revealed that budgeting has helped to control the differences between budgeted and actual revenue, recurrent expenditure and capital expenditure to ensure better economic performance. The data used in this study are basically secondary data, collected from the internet, past research on related topic, journals, and the CBN statistical bulletin. The results of the study generally indicate that the application of budgeting techniques in Fiscal Institutions will help to improve the revenue expenditure and capital expenditure of the economy when consistently used. Therefore for budgeting to remain effective the federal government and the other levels of government, such as the state and the local government must always consider the use of the budget if it must make effective plans and decisions for the economy

Fotografi Fashion Brand Nohari Karya Desainer Hermansyah Afthony

Fotografer mengambil fotografi fashion karena merupakan fotografi yang mempunyai tantangan tersendiri untuk bisa memotret dengan model. Fotografi fashion juga sudah dilakukan dari awal perkuliahan hal tersebutlah yang membuat penciptaan ini mengambil fotografi fashion. Pada penciptaan fotografi fashion brand Nohari karya desainer Hermansyah Afthony yang membuat foto di luar ruangan. Pemilihan brand Nohari merupakan adanya kedekatan dengan sudah melakukan kolaborasi dan busana dari Hermansyah Afthony mempunyai kekhasan tersendiri terutama di bidang kontemporer etnik dari setiap busananya. Rumusan masalah pada penciptaan ini adalah bagaimana memvisualisasikan fotografi fashion terhadap busana brand Nohari dan bagaimana membuat karya fotografi fashion dengan ide penciptaan pergaan busana di luar ruangan. Menggunakan metode eksplorasi, eksperimentasi, dan perwujudan membuat penciptaan ini mempunyai fotografi fashion yang berbeda dengan karya foto fashion sebelumnya. Fotografi fashion penciptaan ini mewujudkan peragaan busana dalam wujud patung yang berada di berbagai lokasi di Yogyakarta. Hasil akhir penciptaan ini bisa memvisualisasikan bentuk baru dari fotografi fashion brand Nohari dan mewujudkan fotografi fashion dengan ide penciptaan peragaan busana di luar ruangan. Melalui penciptaan karya fotografi fashion ini diharapkan bisa menjadi daya tarik ke kalangan masyarakat yang lebih luas serta mempunyai nilai jual yang tinggi. Fotografi fashion ini juga diharapkan bisa menjadi salah satu penciptaan yang baru dalam dunia fotografi fashion. Kata kunci : fotografi fashion, Nohari, Hermansyah Afthony, media promos

Utilizing the MADe Modeling Tool

Utilizing the MADe modeling tool for reliability analyses at NASA

REAL TIME ASSESSMENT OF 500-KVA, 11/0.415 KV DISTRIBUTION TRANSFORMER SITUATED AT BELLS UNIVERSITY OF TECHNOLOGY, OTA, OGUN STATE USING FLUKE 435 SERIES II

Distribution transformer being major equipment in utility companies deserves to be routinely scrutinized for its performance with a view to ensure continuous supply of energy to end-users as well as to sustain improved revenue collection by the utility company. Presented in this paper is the real time assessment of 500-kVA, 11/0.415 kV distribution transformer situated at Bells University of Technology, Ota, Ogun State using power quality and energy analyzer equipment. The parameters measured on real time include phase to neutral voltage, phase to phase voltage, root mean square and peak current, frequency, active power, reactive and apparent power and line power factor. The assessment revealed wide variation of system voltages far from the standard, however, the line power factor and as well as frequency of operation was observed to be within the standard. Based on this analysis, several findings and appropriate recommendations were suggested to improve the supply of energy in the study area. It is hope that the findings of this research will be of immense benefit to distribution engineers at the Department of works in Bells University of Technology, Ota for field compliance