Employment Relations & Human Resource Management- Scholarly Publications

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Browsing Employment Relations & Human Resource Management- Scholarly Publications by Author "Chidi, O.C"

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    Open Access
    Dwindling global oil prices: Curse or blessing in disguise for Nigerian State.
    (Department of Business Administration, University of Lagos, Nigeria, 2018) Chidi, O.C; Mbah, S.E; Ogunyomi, P.O
    The study investigated the recent turmoil in global oil prices. The historical research method/approach was adopted with the use of secondary sources of data. The oil and gas industry is strategic to national development and growth of the Nigerian economy. In the 1940s up to the early 1960s, Nigeria relied heavily on the agrarian economy or agricultural produce as the mainstay of the Nigerian economy. In those good old days, there was healthy rivalry among the three main regions of Nigeria; the western, eastern and northern regions with each region producing agricultural products for which they have comparative advantage. Then the Nigerian economy was economically vibrant with high level of employment, high standard of living and low cost of living. With the discovery of oil in commercial quantity at Oloibiri in present day Bayelsa State in 1956; oil became the mainstay of the economy. As a mono-product economy, since the discovery of oil, there has been neglect of other sources of revenue over the years with heavy reliance on crude oil revenue. Annual budgets have always been predicated on oil revenue projections. The recent discovery of shale oil by the United States of America could be viewed as a turning point, necessitating a downward demand for crude oil in the international market coupled with over production by Saudi Arabia as well as the fall in demand by Asian countries like China which has led to the drastic fall in global oil prices. As of the time of writing this paper, Nigeria’s crude oil hit $80 per barrel for the first time since it fell drastically in 2014. The price fell to as low as $28 per barrel at the beginning of 2016. Many observers are of the view that this is a lesson for Nigeria. There are mixed reactions as to whether the current situation is a curse or blessing for the Nigerian State. The authors are of the view that the dwindling global oil prices could be a blessing in disguise rather than a curse for the Nigerian State. It is recommended that government at all levels should urgently diversify the Nigerian economy from oil to nonoil sectors such as solid minerals, agriculture, tourism, textiles and steel industries. The time to diversify the Nigerian economy is now and enough of lip-service by various past governments. In the same vein, government may have to be prudent and eschew all forms of financial profligacy. There is a need to drastically prune down the bloated size of government if Nigeria is to achieve sustainable economic development.
  • Item
    Open Access
    Human Capital Accounting and its Relevance to Stock Investment Decisions in Nigeria.
    (EuroJoumals, Inc. 2010, 2010) Okpala, P.O; Chidi, O.C
    The authors x-rayed the relevance of human capital acccounting to stock investment decisions in Nigeria. It is believed that a well-developed system of human resource/capital accounting could contribute significantly to internal decisions by management and external decisions by investors. Information on investment and value of human resources is useful for decision making in the enterprise. The authors adopted the survey research design. An instrument was designed using the 5-point Liken scales ranging from strongly agree (5) to strongly disagree (l). The instrument has 26 items. /\ total of 65 samples were drawn from the target population using the simple random sampling technique. Out of the 65 questionnaires administered, 44 were returned upon which the analysis was based. This represents 67.7% response rate. Data analysis was carried out with the aid of SPSS (Statistical Package for Social Sciences). The Chi-square statistical technique was used to test the hypotheses at 5% alpha level. It was found out that the quality of human capital is a major factor in determining the value of a firm's stock and investment decisions. Quality of management and employees are key factors in investment decisions (X2 = 30.86,p < 0.05). Stocks of companies with poor quality manpower and high staff turnover are high risk investment. (X2 = 28.16, ;p; 0 .05). It was also empirically verified that the inclusion of human capital value in the balance sheet of organizations does help investors make more rational investment decisions. Human capital accounting should be made necessary element of financial reporting (x240.37, p < .05.) The authors recommended the need to address the issues of human capital development and investment at both the micro and macro levels and that human capital value should be included in the balance sheet of Nigerian organizations to aid investment decisions. Keywords: Human capital accounting, investment decisions, human asset.