MOBILIZATION OF DOMESTIC FINANCIAL RESOURCES FOR AGRICULTURAL PRODUCTIVITY IN NIGERIA
The paper examines the mobilization of domestic financial resources for agricultural productivity in Nigeria with a view to identify the contributions of the various sources of finance to agricultural productivity in Nigeria. To achieve this objective, the paper employed Vector Auto Regressive Model (VAR) to analyze time series data from (1980 – 2009). The paper identified the various instruments and strategies used by the government for mobilizing resources for the agricultural sector in Nigeria to include subsidy and agricultural credit policies that were financed through Nigerian Agricultural Credit Bank (NACB), credit facilities from Nigerian Bank for Commerce and Industries at the state level, credit through Commercial and Merchant Banks and provision of agricultural credit to the defunct Commodity Board by the Central Bank of Nigeria. The OLS (VAR) result revealed positive relationships between the variables and the variance decomposition measured the proportion of forecast error. The paper therefore recommend that the Federal government recurrent expenditure on agriculture should be reviewed upward for enhanced agricultural productivity and that both the Federal government and the Commercial Banks should mobilize more financial resources toward the agricultural sector to boost agricultural productivity which would guaranteed maximum agricultural productivity in Nigeria.
Keywords: Mobilization, Domestic, Financial Resources, Agricultural Productivity and VAR.
VALUE OF INTELLECTUAL CAPITAL ON CORPORATE PERFORMANCE: An African experience
►James Kamwachale Khomba and Rhoda Bakuwa
Drucker (1992) views intellectual capital as the only major source of capital that can create productivity and contribute towards profits for corporations. The problem statement refers to lack of recognition about this significant contribution of intellectual capital towards corporate performance by some organisations in Africa. Thus, the objective of the research was to focus on the intellectual constructs in order to fully understand its dynamics within an African framework. The study drew corporate data from different companies using structured questionnaires. The data was analysed through the use of univariate and correlation analysis. It is found that some corporations are not still aware of the importance and necessity of intellectual capital that brings innovation and profitability. Many managers in Africa still tend to put much emphasis on the other four sources of capital as comprising labour capital, natural resource capital, financial capital and debt capital more than the intellectual capital. Thus, recognition of intellectual capital is still in the transitional stage amongst many organisations in Africa. It is expected that the results of this research will enhance knowledge and recognition of intellectual capital value as another source of productivity and a contributor towards corporate performance and profitability.
Keywords: Africa, corporate performance, innovation, intellectual capital, Malawi, Ubuntu, value creation
CRAFTING A SUSTAINABLE CORPORATE PERFORMANCE: The value of corporate stakeholders
►J Kamwachale Khomba, Ella C Kangaude-Ulaya and Rabiya Hanif
Stakeholders play critical roles in sustaining operations of an organisation. Thus, there is an increasing insistence on the need for organisations to run their operations with their stakeholders in mind. This study aimed at establishing how different stakeholders are valued and treated by various companies operating in Malawi. The study findings reveal that most business executives recognise the vital roles that different stakeholders play for the success and sustainability of their operations. Corporate managers also recognise the interdependence of relationships of their stakeholders. However, some stakeholders such as debt financiers, community and natural environment receive lower rankings by corporate managers. The study findings suggest that there is a need to carry out another similar study after some time to assess the impact of new provisions of the good corporate governance that propagate inclusion of an integrated reporting system within corporate reports. It is envisaged that the study results will facilitate the change of mindsets in corporate planning and performance measurement systems and also change of approaches in academic and business research programmes.
Keywords: Corporate, governance, Malawi, performance, shareholder, stakeholder, sustainability, value
EDUCATION PRODUCTION FUNCTION AND QUALITY OF EDUCATION IN DAY SECONDARY SCHOOLS IN KENYA
The purpose of this study was to establish the extent to which school inputs affect the quality of education in day secondary schools in Kisumu County Kenya. The study was conducted in 18 day secondary schools, 18 head teachers, 123 teachers and 600 students. Proportionate sampling was used to select the number of day secondary schools in various divisions within the County. Simple random sampling was used to select the teachers and students for the study. Data was analysed using Linear multiple correlation. The most important inputs that affected the performance of the day secondary schools included involvement of Parents Teachers Association (PTA) in running of the schools; amount of instructional materials supplied and expenditure in laboratory equipment. The study recommended that PTAs should be strengthened, so that they could contribute to the provision of physical facilities in order to improve quality of education in the day secondary schools.
Keywords: Day secondary schools, Education Production Function, School Inputs, Quality of Education.
EXAMINING THE INFLUENCE OF FAMILY SUPPORT AND MOTIVATION AT WORK AS ANTECEDENTS OF EMPLOYEE LOYALTY AMONG PRIVATE ISLAMIC SCHOOL TEACHERS IN KELANTAN, MALAYSIA
►Noraani Mustapha, Wan Mohd Yusuff Wan Ibrahim amd Nurulhuda Che Nordin
Employee loyalty is an important indicator of an organization’s work environment and the quality of its management. Loyal employees represent a cost savings over recruiting and training new workers, and loyal employees can be incredible assets to a growing company. The objective of the study is to determine the relationship between family support and motivational factors on employee loyalty among 100 teachers in nine private Islamic schools in Kelantan. The sample was determined using systematic random sample and data was gathered using a self administered research questionnaires. Descriptive analysis was utilized to describe the respondents and the Pearson Product Moment Correlation was used to assess the influence of the independent variables on its dependent. The result indicates the positive significant relationship between variables and supports the hypotheses. This study suggests that family support along with the motivational factors employed in this study have a positive significant relationship with employee loyalty to the organization, and therefore both factors should be utilized by managers as a mechanism to promote organizational citizenship among employees.
Keywords: Family Support, Motivational Factors, Employee Loyalty
EXPLORING THE HR PROFESSIONALS’ EMPLOYEE ADVOCATE ROLE IN A DEVELOPING COUNTRY: The case of Malawi
►Rhoda Cynthia Bakuwa
This study specifically explored the key factors that significantly influence the performance of the employee advocate role by HR professionals in a developing country context – Malawi. The study used a standardised questionnaire administered to a random sample of 305 respondents (95 HR professionals, 121 line managers, and 89 employees) drawn from public and private sector organizations in Malawi. The standard multiple regression results revealed that the perception that HR professionals perform the employee advocate role was mainly influenced by the HR professionals’ ability to motivate employees through organizing regular staff meetings. The main implication of the results of this study is that organization of regular staff meetings to listen to the views and concerns of employees is fundamental to the enhancement of the HR professionals’ employee advocate role. Such meetings provide an opportunity for the employees to have their views and concerns heard which is in line with the current wave of democratic dispensation and freedom of expression in many African countries.
Keywords: HR Roles, HR Professionals, Employee Advocate, Staff Meetings, Institutional Theory, National Culture.
THE CAUSAL RELATIONSHIP BETWEEN INSURANCE AND ECONOMIC GROWTH IN NIGERIA (1986-2010)
This study examined the causal relationship between insurance and economic growth in Nigeria over the period 1986-2010. The Vector Error Correction model (VECM) was adopted. The cointegration test shows that GDP, premium, inflation and interest rate are cointegrated when GDP is the edogeneous variable. The granger causality test reveals that there is no causality between economic growth and premium in short run while premum, inflation and interest rate Granger cause GDP in the long run which means there is unidirectional causality running from premium, inflation and interest rate to GDP. This means insurance contributes to economic growth in Nigeria as they provide the necessary long-term fund for investment and absolving risks.
Key words: Economic growth, Insurance, Vector Error Correction Model (VECM),
A BOUND TEST ANALYSIS OF THE EFFECTS OF GLOBAL ECONOMIC SHOCKS ON NIGERIAN ECONOMY: The Role of Fiscal and Monetary Policies (1960-2011)
►Saibu M.O and Apanisile O.T
This study examines the effectiveness of both fiscal and monetary policies in mitigating external shocks on Nigerian economy. In addition, it determines which of the macroeconomic policy was more effective in mitigating the possible adverse effects of external shocks; The study uses annual data from 1960 to 2011 and data are sourced from Statistical Bulletin of CBN. Also, Mundel-Flemming theoretical framework is adopted to model the interaction between domestic and international macroeconomic policy variables. The time series properties of the variables are examined before the Autoregressive Distributed Lag (ARDL) analytical technique is adopted to estimate the model. Beta coefficient is also generated to determine the effectiveness of each of the policies. The result showed that external shocks had hindered the effectiveness of domestic policy overtime. The result also shows that monetary policy is more effective than the fiscal policy but a coordination of both fiscal and monetary would give a better result.
Key words: Macroeconomic Policy, Global Economic Policy Shock , Economic Growth