Reducing Small Scale Farmers Poverty through Credit access in Kwara State Nigeria

This is a study of credit access by small scale farmers and its impact on poverty reduction in Kwara state. The study made use of survey research design and adapted the Cobb-Douglas production function which measured the productivity of small scale farmers using ordinary least square method. The study also measured profitability, Net farm income and poverty status of borrowers and non-borrowers. It was found that though credit users had higher productivity, profitability and Net farm income compared to non-credit users, the difference was insignificant. Also, it was found that the poverty level of the famers who had access to credit was lower than that of farmers who did not have access to credit. Hence, the study concludes that credit can guarantee poverty reduction and also assist to include small scale farmers in the growth process if it is made available in sufficient quantities. The study therefore recommends an increase in credit available to small scale farmers through collaborative efforts between formal financial institutions and government since credit can positively impact on poverty reduction. Keywords: Credit, Small Scale Farmers, Poverty reduction. Gel Classification: Q1

Does Foreign Direct Investments Impact Agricultural Output in Nigeria? An Error Correction Modelling Approach

This study measures the impact of foreign direct investment on agricultural output in Nigeria. It opines that foreign direct investment is one of the viable techniques of financing development in developing countries. To achieve our objective, the study used times series data spanning a period of 34 years for several variables from credible sources. The method of analysis used was Error correction model. The study found an insignificantly positive effect of foreign direct investment on agricultural output in the short-run but found a significant effect on agricultural output in the long-run. Furthermore, the study found a significant effect of employment, exchange rate, and interest rates on agricultural output in the long-run. It is recommended that deliberate polices must be quickly enacted to reduce interest rates for farm purposes, encourage labour availability in agriculture and stabilize exchange rates within the Nigerian economy. These way foreign investors will be encouraged to import their capital for agricultural production activities now which will be a guarantee for a significant impact of foreign direct investment on agricultural output in the long run

RELATIONSHIP BETWEEN DEBT RATIO AND FINANCIAL PERFORMANCE OF NIGERIAN QUOTED COMPANIES

This study examined the relationship between debt ratio and financial performance of selected Nigerian quoted. This research work also examined whether asset turnover is related firm financial performance as well as whether asset tangibility is related firm financial performance. Data for the period of five years (2011-2015), sourced from the annual reports of the quoted companies was used in carrying out the analysis. The variable used werey debt ratio , assets turnover, assets tangibility, and financial performance (i.e. profitability) is proxied by return on assets.STATA software was engaged in performing the correlation and regression analysis. The study detected that from the regression analysis that debt ratio and financial performance are positively and significantly related. The result also revealed that asset turnover and financial performance are negaitively and but not significantly related whlie assets tangibility and financial performance are positively and significantly related

Impact of tax fairness and tax knowledge on tax compliance behavior of listed manufacturing companies in Nigeria

Abstract Tax compliance is a major contemporary debate surrounding corporate taxation in the business world. The tax avoidance issue, which remains an ethical problem for companies, has been a general concern in developed and developing countries alike. The main problem of this study is a non-tax compliance behavior of the corporate organization taxpayers in Nigeria. This study examined the influence of tax fairness on the tax compliance behavior of listed manufacturing companies in Nigeria. The paper adopted a survey research method, and four hundred (400) copies of the questionnaire were administered to the selected manufacturing companies of both consumer and industrial goods sectors. The Laffer Curve Theory underpinned this study and Correlation Analysis, Analysis of Variance (ANOVA), and Multiple Regression Analysis were also employed. The study found that there is a significant level of tax compliance among the listed manufacturing companies in Nigeria. The study also shows that the corporate taxpayer’s perception of fairness of –2.765 (0.006) has a significant impact on corporate taxpayers’ willingness to pay taxes and tax knowledge of 4.601 (0.000) significantly influenced tax compliance. Based on tax knowledge, the study recommends that tax authorities must improve the knowledge of taxpayers and tax collection agents through programs, initiatives, and training on tax awareness

Shaping National Science and Technology Base with Policy: A Case Study of Gambia National Science and Research Policy (2006-2010)

This paper evaluated the contributions of science and research policy to the development of creative and innovative research and the science and technology base of a nation. Using case study strategy of inquiry, it addressed the research question of whether the science and research policies of the Gambia (2006-2010) could significantly shape the science, technology and innovation base of the nation through mediating effects on scientific activities. In contributing to empirical discussions in literature on policy implications for scientific activities, the paper suggests, first, that using public policies, research institutions including universities, could be strengthened to expand and improve national science and technology base. Public policies that foster scientific linkages and collaborations could contribute in building appropriate research competences of scientists, encourage the introduction of new and innovative ideas, and generally expand the national science and technology base. Second, the paper argued that in low income countries such as the Gambia with limited funds for research, the absence of a national science policy framework could lead to donor rather than demand driven research agendas, as research and innovative efforts would produce little research outcomes and necessary technologies to expand the national science and technology base. Keywords: Science and technology, policy, innovation, scientific performance, higher education

Are Oil Prices Mean Reverting? Evidence from Unit Root Tests with Sharp and Smooth Breaks

This study examined the validity of efficiency market hypothesis for the oil market by employing a novel Fourier unit root test that accounts for sharp shifts and smooth breaks based on daily data. Our results established the existence of structural shifts and nonlinearity in the oil market indices suggesting that oil market is inefficient when structural breaks is calibrated into the model. Unlike results obtained from existing traditional unit root test, results from sharp shifts and smooth breaks unit root test suggests the rejection of unit root null for each of the oil indices. The study has some practical and policy implications based on our findings

THE IMPACT OF INTERNAL AUDITING ON THE PERFORMANCE OF THE NIGERIAN BANKING INDUSTRY: CASE STUDY OF FOUR BANKS

The existence of internal audit function is very important to any organization and to a large extent; this study has been able to establish that a relationship exists between internal auditing and bank performance. In Consistency with previous studies, this study provides a widespread of literatures and ideas on the relationship between internal audit and bank performance. This study is concerned with internal auditing and how it affects the performance of banks and it was executed by selecting four banks as case studies, specifically old generation banks and new generation banks. The outcomes of this study creates cognizance as to how internal auditing affects the performance of banks, thereby bridging the gap between internal auditing activities and internal audit performance-driven activities. The method of data collection was carried out through the administration of questionnaires; a total number of seventy-four (74) questionnaires were retrieved and analyzed using tables and simple percentages. The three hypothesis formulated were also tested using the one way T test. The findings show that internal auditing does influence bank performance. As a result of the extensive study carried out, the researcher and correspondents made a series of recommendations of which they pointed out that only qualified auditors should be appointed to carry out any audit activity so it can be done effectively, the banks in return should provide accurate information for the auditors and before any appointment of an auditor, the legitimacy of the internal auditors resume should be properly checke

The effect of fiscal and monetary policies interaction on stock market performance: Evidence from Nigeria

This study examines the impact of the interactions between fiscal and monetary policies on stock market behaviour (ASI) and the impact of the volatility of these interactions on the Nigerian stock market. The study analysed monthly data using the ARDL and EGARCH models. The results show the interaction between monetary and fiscal policies influence on stock market returns in Nigeria. The ARDL results show evidence of long run relationship between ASI and Monetary-fiscal policies. The results from the volatility estimates show that the ASI volatility is largely sensitive to volatility in the interactions between the two policy instruments. The results suggest calibrating both the monetary and fiscal policies in a single model when formulating stock market policy as their interaction exerts significantly on stock market behaviour, thus both policies should be considered in tandem. & 2017 Faculty of Commerce and Business Administration, Future University. Production and Hosting by Elsevier B.V. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)

Examining the Nigerian Stock Market Efficiency: Empirical Evidence from Wavelet Unit Root Test Approach

This study examines the Efficient Market Hypothesis (EMH) using data sourced on monthly bases on the Nigerian Stock Market. We employed recently developed frequency domain wavelet-based unit root test as well as two-time domain unit root tests that accommodates structural breaks. The results show that when frequency domain was factored into stock market efficiency framework for the Nigerian stock market, evidence abound to reject the null hypothesis, whereas no evidence not to do so with conventional time domain estimation techniques. The study recommends that investors should take advantage of the arbitrage opportunity that exist in the market; and that policy makers should see the stock market as a good platform that can aid economic growth as its vibrant arbitrage activities can attracts substantial fund for economic growth

CAPITAL STRUCTURE AND PROFITABILITY OF SELECTED AGRICULTURE AND AGRO-ALLIED FIRMS ON NIGERIAN STOCK EXCHANGE: POST INTERNATIONAL CAPITAL STRUCTURE AND PROFITABILITY CAPITAL STRUCTURE AND PROFITABILITY OF SELECTED AGRICULTURE AND AGRO-ALLIED FIRMS ON NIGERIAN STOCK EXCHANGE: POST INTERNATIONAL FINANCIAL REPORTING STANDARD ANALYSIS

Firms and their profitability using data on 18 selected agriculture and agro-allied firms which are listed on the Nigerian Stock Exchange. The study is based on the post adoption of International Financial Reporting Standard and spans 2007 through 2012. Using the Ordinary Least Square analytical technique and garnering secondary data from firms’ annual reports, the empirical results show that profitability is positively and significantly related to shareholder equity but negatively and significantly related to long-term debt. The findings here lend credence to the need for agriculture and agro-allied firms to prioritise internal sources of revenue. Key words: Capital Structure, Profitability, Shareholder Equity, Long-term Debt; Ordinary Least Squar