THE IMPACT OF WORKFORCE DIVERSITY ON ORGANIZATIONAL EFFECTIVENESS: A STUDY OF A NIGERIAN BANK

It is generally recognized that there is diversity in the workforce of any enterprise, be it business, government, or civil society. This study therefore seeks to find out the impact of workforce diversity on organizational effectiveness using a Nigerian bank for the study. We used the Blau’s1977 index of heterogeneity to measure the diversity index. While asset growth for the year 2008 and 2009, using 2007 and 2008 as base year was used to measure the growth strategy. To determine group diversity and performance outcomes moderated by workgroup context, a series of hierarchical regression analysis were conducted. The study finds significant correlation between some of the diversity variables as well as individual diversity variables with the measures of organizational effectiveness. Also it reveals that gender and ethnicity are negatively related to both employee productivity and performance bonus. In addition the study find that gender, age and tenure diversities are positively correlated and are significantly related. It is recommended that company executives use good strategies to effectively manage workforce diversity and collaborative research efforts should be done to ascertain the contextual variables that moderate workforce diversity to produce positive performance outcomes

Globalizing the Board and Financial Performance : Evidence from Nigerian Banks

The board of directors is crucial and very important in a business control structure. The value of boards in decision making and increasing the wealth of shareholders depends on how well directors perform their functions. However, the role of foreign independent directors (FIDs) in a firm can never be over emphasized. It is expected that they can improve the advisory role of boards because of direct information about international markets. This study, therefore, investigated if there is a significant difference between the performance of firms with and those without FIDs. The paper observed that a non- significant relationship existed between the tested parameters. This non-substantial difference is likely to be due to the fact that international directors have a tendency to adjust to the socio-organizational values of the location in which they function from. The study, therefore, recommends that FIDs should be encouraged because of their different backgrounds. This will enable them to add to the firm's values and various skills which some domestic board members do not possess. In order to encourage both minority and majority foreign investors, foreign board members should be allowed on boards for assurance that the corporation is being managed by professionals in their best interests

Exploring the enablers of organizational and marketing innovations in SMEs: findings from South-Western Nigeria

Previous research studies on innovation tend to focus on process and product innovations. Recent theoretical opinions reveal that Organizational and Marketing Innovations (OMIs) could be the necessary prerequisites to optimally utilize and deploy such process and product innovations. It is important to note that there is a dearth of information on the enablers of OMIs capabilities among small and medium-sized enterprises (SMEs). Despite their closeness to their customers, many SMEs are finding it difficult to achieve successful and effective innovations; these are innovations that have a positive impact on the business growth and returns. This study presents findings from exploratory qualitative research conducted in SouthWestern Nigeria. Drawing upon information-rich evidence from 13 in-depth interviews with the owners and the managers of SMEs, this study identifies some enablers that can promote SMEs' OMIs capabilities, effective innovations, and organizational survival. © The Author(s) 2015

Balance of Payment Adjustment: An Econometric Analysis of Nigeria's Experience

This study deals with the Balance of Payment adjustment for Nigeria for the period {1986-2007} using an econometric analysis. The main objective of the study is to empirically investigate the effect to which the monetary phenomenon approach to Balance of Payment adjustment explains the observed behaviour of Nigeria's balance of payment. Annual time-series data on the variables under study covering twenty-two year period are used. The balance on Current Account is considered The ordinary least squares single equation technique is used for the study .In the model specified the study looked at the impacts of mane tory and real variables on the current account balance. The explanatory variables include the total domestic credit, GOP ond government expenditure . The study find out that the aggregate credits to the Domestic Economy were significant in explaining the current account balance. There were positive and significant relationship between GOP and current account balance. Also government expenditure was significant in explaining current account balance .It is recommended that the Nigerian Monetary and Fiscal Authorities should give greater priority to measures other than monetary tools to achieve balance of payment stabilit

Nexus between Public Finance and Economic Growth in Nigeria

Public finance deals with various roles and activities of the government aimed at ensuring economic growth. This study assessed the nexus between public finance and economic growth in Nigeria. It adopts the theory of Peacock; it states that a country could evolve after encountering social disturbances. Such financial difficulties are expected to increase government spending leading to national growth. Secondary data sources gotten from CBN and World Development Indicators are used. Data analysis is done using Unit Root test, Auto-Regressive Distributed Lag (ARDL) and granger causality technique for period 1981 to 2017. Results of the study indicate that Government revenue (GREV) has a major effect on development of Nigeria’s economy, Government expenditure (GEXP) has not substantially but significantly impacted economic growth via the outcomes of Recurrent expenditure(REXP) and capital expenditure (CEXP), and in conclusion Gross domestic savings (GDS) has not impacted Nigeria's economic growth. The recommendation made based on the findings are; In order to ensure aggregate productive public expenditures, the government of Nigeria should ensure that the composition of public sector outputs is optimal. This can be done by ensuring it does not produce either too much of one good or too little of another,the government of Nigeria through various investment schemes and programs that are tax exempt can promote the practice of saving in the country. Investing in such saving schemes can considerable promote individuals tax savings which in turn increases gross domestic savings

Can Pension Reforms Moderate Inflation Expectations and Spur Savings? Evidence from Nigeria

This paper tests the prior-savings theory which proposes that pension savings could moderate inflation, and spur long-tenured savings for fixed capital formation. An augmented Toda-Yamamoto longrun non-causality technique was used to analyze data from 1980 to 2018. The outcome reveals that pension saving has significant negative causal flow to gross fixed capital formation, while gross fixed capital formation does not drive inflation expectation. The outcome suggests that prior-savings theory does not hold in the Nigerian case, which may infer that government borrowing from pension fund has been for consumption expenditure. The results generalize many developing economies with similar financial structure. The paper recommends that borrowed pension savings be invested in infrastructures in line with prior-saving theory. Fiscal policy reforms that broaden and deepen the nexus are recommended

Impact of Marketing of Deposit Money Bank Services on Customers’ Patronage and Loyalty. Empirical Study of Five Deposit Money Banks in Nigeria

Marketing helps to attract its target customers thereby creating a relationship where exchange can be made possible. However, communication gap in deposit money banks constitute a major problem in the banking system and there is a need to bridge such gap as it affects customer's loyalty and patronage significantly. The objective of this study is to examine the effects of marketing of deposit money bank services on customer patronage and loyalty. This study examined five (5) deposit money banks which were chosen at random. Guarantee Trust Bank (GTB), United Bank for Africa (UBA), Eco Bank Plc, First Bank Plc and Skye Bank Plc. Primary data was used in the course of the study through the use of questionnaires in ensuring that the necessary data were obtained for the analysis. A total number of one hundred and fifteen (115) copies of the questionnaire were administered to the customers of the selected banks. The copies of the returned questionnaire were a hundred and thirteen (113) which were coded in the Statistical Package for social science (SPSS 23). A linear regression model was adopted in order to measure the effect of the independent variables on the dependent variables. The study found that marketing of deposit money bank has a significant effect on customer patronage and loyalty. The study concludes that marketing is highly essential to the survival of any bank thereby ensuring communication is effective between the bank and their customers. The study recommends that banks should ensure that effective marketing strategies such as; creating awareness of the products and services are developed by adopting marketing principles that will enable them to acquire more customers and have a long-term relationship with the existing ones

Empirical Examination of Sources of Inflation in Nigeria

The paper focused on identifying major factors that cause inflation in Nigeria using secondary data for 1981-2016. It specifically examined how the dynamics of key economic fundamentals like external debt, exchange rate, output growth rate, interest rate, fiscal deficits and money supply explain inflationary trend in Nigeria. Based on the result of the unit root test, the econometric technique of ordinary least squares was adopted in the study. The study produced strong empirical support for positive effect of exchange rate, fiscal deficits and money supply on inflation. However, there is no evidence from the study that output growth rate, external debt, and interest rate cause significant changes in inflation rate in Nigeria. Within the scope of our study, there is substantial evidence to conclude that inflation in Nigeria is driven by exchange rate dynamics, fiscal deficit and money supply