Working Capital Management And Profitability: A Study Of Selected Quoted Nigerian Manufacturing Firms
This study investigated the effect of working capital management on profitability in selected manufacturing companies listed in the Nigerian Stock Exchange. The main objective to this research work is to examine the effect of various variables of working capital management including receivables’ cycle, inventory conversion period, payables period and the cash conversion cycle on profit after tax of the companies, it is reviewed that cash conversion cycle is the proxy for working capital management while profit after tax is the proxy for profitability while in getting cash conversion cycle the variables listed above will be necessary. Current ratio, leverage and logarithm of sale was considered as control variable. Five (5) companies were selected for a period of five years from 2009-2013 using their annual audited financial statements in getting the necessary figures, for data analysis, ordinary least square regression technique on E-views was used, and The results of the study showed that there is a reverse effect on working capital management variables and profitability. It is found out that increasing receivables period, payables period, inventory conversion period and cash conversion cycle leads to decreasing profitability in the companies. According to the research findings, managers can create a positive value for stockholders by decreasing receivables period, payables period, inventory conversion period and cash conversion cycle to the lowest possible level and it is also recommended by the researcher that promotion and elaboration of working capital management culture through seminars and workshops also suitable environmental infrastructures for working capital management including financial tools and institutions should be provided.
Workers’ Perception Of Tax Assessment In Edo State
This intends to examine the how workers perceived tax assessment in Edo State. There has been occurrence of multiple taxation in the state, which has made large numbers of people to perceive the state government as insensitive to the plight of the people. Since workers are the major tax- payers in the state, there is high need to examine how they perceive such act. This study therefore investigates 63 workers in Samuel Adegboyega University, Ogwa, Edo State. These workers were selected through multi- stage sampling method. The findings of the study reveals that moderate tax system operate in Edo State, Nigeria, which the workers accept; multiple tax assessment is rampant and this causes double taxation in Edo State; the new tax assessment is viable for economic growth in the state; the government in many instances over- taxed some items and as such constraint local investment in the state; the new tax system is not convenient for business activities in the state.
The investigation of workers’ perception of tax assessment has shown that Edo State Government’s tax assessment is poor; as it does not lead to promotion of investment in the state. The study therefore concludes that there is need for effective participation from all stakeholders to have a tax assessment that is moderate and encompassing. The following recommendations are made government should eliminate multiple system that operates in the state; government should all stakeholders in the state in tax assessment; and government should optimum return on tax paid by all people in terms of provision of social amenities.
The Nigerian Capital Market And The Growth Of The Nigerian Economy: A Case Study Of The Nigerian Stock Exchange
The study examined the Nigerian Capital Market and the Growth of the NigerianEconomy from 1990 to 2012. Data were collected from Securities and Exchange Commission reports, Nigerian Stock Exchange Review Reports and Central Bank of Nigeria Statistical Bulletin and ordinary least square (OLS) method was used with the aid of the EVIEWS version 7 software packages to analyze the data. The result showed that capital market indices have significantly impacted the Real Gross Domestic Product (RGDP). The study recommends among others that government should put up measures to build up investors’ confidence in the capital market by fair transactions, increase investments instruments in the market, and provide basic infrastructures.
The Impact Of Monetary Policy On Economic Growth In Nigeria
This research work studied the effect of Central Bank of Nigeria’s (CBN) monetary policies on selected macroeconomic variables – gross domestic product 1985 – 2013. This research made use of secondary data which were sourced from the Central Bank of Nigeria Statistical Bulletin (2013). The Ordinary Least Square Regression Technique (OLS) was employed in the analysis of the data. Based on the empirical analysis carried out, it was found that overall, CBN’s monetary policies play crucial role in influencing the level of productivity in the country. This result gives weight is the place of central bank in the national development process of a nation. The regression analysis also revealed that the adoption of various monetary policy measures by the central bank of Nigeria’s has no significant impact on the inflation rate in the country. This suggests that the problem of inflation rate in the country is not a monetary phenomenon but is rather attributed to the structural rigidity in Nigeria. This is understandably as Nigeria is operating far below full employment equilibrium and increase in GDP does not translate to improved purchasing power because poverty index has continued to worsen over the years. A lot still needs to be done in the areas of creating public awareness, improving operations of the financial market, enhancing the depth and breadth of the market and building regulatory capacity so as to appropriately position the market to face the challenges ahead. Based on the conclusion made, it recommended that the Nigeria government should less volatile and more viable as it is in developed countries. This will allow for smooth execution of the Central Bank monetary policies. Law relating to the operation of the financial institutions could be made a bit less stringent and favourable for the operators to have room to operate more freely.
Public Relations Effectiveness In The Management Of Nascent Profit Making Organisation In The Domain Of Competitive Market.
Public relations effectiveness in the management of profit making organisation in the domain of competitive market is basically about various strategies used by up comining organisation which rendered similar services or sell the same comodity to that which their company produces and how they use their various public relation strategies to win consumers than their competitors.
The study made use of qualitative analysis method. The study revealed that public relation can help young organisations to grow if planned well.
Public Perception Of Press Coverage Of Rural Issues In Nigeria (A Study Of Ikot Abasi Local Government Area, Akwa Ibom State)
The study examines Public Perception of Press Coverage of Rural Issues in Nigeria. The underlying reason behind the study is to find out the public opinions about press coverage of rural issues; how the public assess press coverage of rural communities and how rural issues are reported by the Nigerian press. Survey research method was adopted for the study and the questionnaire was used as an instrument for data collection. The population of study was Ikot Abasi Local government area of Akwa Ibom State, which has a total population of 132,608 and Taro Yamane formula was used to draw a sample size of 204. The simple random sampling technique was used in the study and Development Media Theory propounded by Denis McQuail in 1978 was used to anchor the study. Data were analyzed using Statistical Package for Social Sciences (SPSS). The findings showed that rural issues like; health, education, government programmes, and agricultural related issues and many more were not properly covered and negative events were mostly covered than positive events in rural communities. Findings further showed that the rural people were not happy with press coverage of rural issues in Nigeria because they rarely read news contents on rural issues and no easy access to information in the rural communities. The study further revealed that people cannot read or afford newspaper on daily basis due to poverty, illiteracy, lack of establishment of local media firm by the government in the community, lack of government support, lack of access to daily newspaper in the community etc. The researcher therefore concludes that rural issues and events in the communities were not properly covered by the Nigerian press. The researcher therefore recommends that the government, NGO and the Nigerian press should put in their best to solve the identified challenges.