WORKING CAPITAL MANAGEMENT AND PROFITABILITY OF FIRMS IN NIGERIA

This study was conducted in order to ascertain the nature of the relationship between working capital management and profitability of firms in Nigeria. The cluster sampling and simple random sampling techniques were adopted in this study. From a population of 220 firms listed on the Nigerian Stock Exchange as at 3F' December, 2011, a sample of 142 companies was selected. A cross-sectional data of firms for 2009-2011 was collected from the Nigerian Stock Exchange Fact Book and the annual reports of the sampled firms. The data collected were analysed using Ordinary Least Squares (OLS) regression technique. All of the explanatory variable (LQD, DBT, CCC) except CCC were . positively associated with profitability of finns in Nigeria. It was also found out that only LQD is significantly associated with profitability. Based on the result of this study it was recommended amongst others that, the federal government of Nigeria, through her relevant agencies, should emphasize optimization of the liquidity of firms in Nigeria. This is necessary so as to enhance profitability of firms doing business in the Federal Republic of Nigeria

The Impact of Capital Formation on the Growth of Nigerian Economy

The paper investigated the impact of capital formation on economic growth in Nigeria. The data were collected from Central Bank of Nigeria (CBN) statistical bulletin (2011).To analyze the impact of capital formation, stock market capitalization, inflation rate and interest rate on economic growth, the study employed Ordinary least square (OLS) technique. To test for the properties of time series, phillip-perron test was used to determine the stationarity of the variables and it was discovered that gross fixed capital formation and economic growth are integrated of order zero (I(0), Johasen co integration test was employed to determine the order of integration while erro correction model was employed to determine the speed of adjustment to equilibrium. The empirical findings suggest that capital formation has positive and significant impact on economic growth in Nigeria for the period under review this result corroborate the findings of Bakare (2011), Orji and Mba (2010). Stock market also showed a positive impact, while both inflation rate and interest rate has a negative impact on economic growth in Nigeria for the period under review but the impact is statistically insignificant. The result further shows a long run relationship between capital formation and economic growth in Nigeria for the period under review. Therefore emphasis should be place on accumulating capital in Nigeria as this will accelerate growth and development in Nigerian economy. The Nigerian stock market should be deepened more to enhance their contribution to the growth of the domestic economy. Key Word: Capital Formation, Economic Growth, Inflation, Interest rate and stock market capitalization

Impact of Telecommuting on Employees’ Performance

This work examined the impact of telecommuting on employees’ performance. The dynamic nature of the environment in which our organizations operate and customers need made this investigation very necessary. The objectives of the study were; to find out if arrangement that enables employee to work at home has a positive relationship with better quality of work and to ascertain whether an arrangement that allows employee to work at agreed location has significant relationship with speedy service delivery. To achieve the objectives, a survey research design was adopted. The techniques employed in analyzing the data were descriptive statistics and spearman rank correlation coefficient. The results indicated that the arrangement that enables employee to work at home has a weak and positive relationship with better quality of work. It was also found that arrangement that allows employee to work at agreed location has a significant relationship with speedy service delivery. Based on the findings, the researcher concluded that telecommuting has impact on employee performance. It was recommended that managers of telecommunication out-fits should continue with the arrangement that allows employees to work at agreed location since it was found to have significant relationship with speedy service delivery but also ensure that, there is a strong mechanism on ground to monitor the activities of the telecommuters

Perspectives on Immunoglobulins in Colostrum and Milk

Immunoglobulins form an important component of the immunological activity found in milk and colostrum. They are central to the immunological link that occurs when the mother transfers passive immunity to the offspring. The mechanism of transfer varies among mammalian species. Cattle provide a readily available immune rich colostrum and milk in large quantities, making those secretions important potential sources of immune products that may benefit humans. Immune milk is a term used to describe a range of products of the bovine mammary gland that have been tested against several human diseases. The use of colostrum or milk as a source of immunoglobulins, whether intended for the neonate of the species producing the secretion or for a different species, can be viewed in the context of the types of immunoglobulins in the secretion, the mechanisms by which the immunoglobulins are secreted, and the mechanisms by which the neonate or adult consuming the milk then gains immunological benefit. The stability of immunoglobulins as they undergo processing in the milk, or undergo digestion in the intestine, is an additional consideration for evaluating the value of milk immunoglobulins. This review summarizes the fundamental knowledge of immunoglobulins found in colostrum, milk, and immune milk