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- ItemOpen Access
- ItemOpen AccessCompetition for Bank Deposits In Nigeria.(Giordano Dell-Amore Foundation., 1984) Owualah, S.I.This paper is a follow-up on an earlier study by Professor o. Teriba in 1968 on the competition for bank deposits in Nigeria. Consequently it examines the changes in the competition for bank deposits following the enactment of a comprehensive Banking Act in 1969 which among others gave rise to the introduction of monetary policy circulars by the Central Bank of Nigeria. Other factors thought to impact competition for deposits include the growth in number and type of deposit-taking institutions, the entry of development finance institutions and the removal of the dichotomy between expatriate and indigenous commercial banks. The findings showed a steady growth in bank deposits in the face of such impediments to deposit mobilization like extreme rigidity in interest rates and banks' unfriendly attitude to small savers. The paper concludes that the observed growth is not necessarily the result of concerted efforts of banks to compete for deposits but rather the increasing sophistication in the banking habits of most Nigerians.
- ItemOpen AccessScale Economies and Efficiency of Bank Operations:(Giordano Dell-Amore Foundation., 1986) Owualah, S.I.This paper which exploratory undertakes to find out whether economies of scale exist in the operations of Nigerian commercial banks and if so, whether size plays any significant part.To do this, a measure of size - total assets and other variables such as interest payments on time and savings deposits, salaries and wages were included in a regression equation. A major finding is the existence of traces of economies of scale and efficiency, at least in the technical sense, in the operations of larger commercial banks in Nigeria. However, Nigeria's commercial banks are yet to exhaust potential scale economies in their operations.
- ItemOpen AccessProviding Necessary Economic Infrastructures for Small Businesses:(Sage Publications, 1987) Owualah, S.IThis paper asks what contemporary economies; what constitutes economic infrastructures for small firms; and whose responsibility it is to provide them and to what extent they have been or are being provided in many countries. It finds that government has a responsibility to provide relevant economic infrastructure but suggests there is doubt whether actual implementation should also be there direct responsibility. It suggests that less developed countries may have lost sight of their own comparative advantage in harnessing the potential of the small business sector and conclude that these countries can achieve no meaningful or balanced industrial and economic development without due consideration for their small business sector. The paper emphasizes that providing both hardware and software economic infrastructures for small business firms to play their roles effectively should be the responsibility of the government. This is because governments do through their policies obstruct the growth of these firms just as they can stimulate it.
- ItemOpen AccessVenturing into Small Business in a Developing Economy:(Giordano Dell-Amore Foundation, 1990) Owualah, S.I.This paper investigates how far Nigeria's structural adjustment programs have contributed to the growth of more small businesses as part of a broader inquiry into the motivations of small business founders in Nigeria. It further addresses the related issue of the constraints to small business operations in the country. Evidence produced by the study does not show loss of jobs or strictly speaking, unemployment — one of the consequences of the structural reforms, to be a strong motivational factor. Rather, independence, innovation, financial returns and precautionary motives dominate the reasons for starting a small business. However there is a possibility that the insignificance of the unemployment factor may be related to the constraints to small business ownership identified in this study. Most important among them is capital constraint, both working and fixed capital. Others such as unfavorable economic conditions and government policies, etc are not inconsequential though, cause a lesser concern.
- ItemOpen AccessThe Role of Financial Intermediaries in Elite Money Laundering Practices: Evidence from Nigeria.(1997) Otusanya, O.J; Ajibolade, S.O; Omolehinwa, E.OOne of the most pervasive economic crimes in the world today is money laundering. It has been estimated that some $2 to $3.6 trillion of hot money is laundered through the financial market each year. Such huge amounts of money cannot be successfully laundered without the involvement of financial intermediaries (such as bankers and lawyers) who used their expertise to conceal and obscure illegal activity. However, broader accounts of the role of financial intermediaries in corrupt practices are relatively scarce. The purpose of this paper is to examine some predatory activities of financial intermediaries in facilitating money laundering practices in Nigeria. The paper locates the role of financial intermediaries within the sociological theory of profession to argue that these professionals facilitate money laundering despite their professional and ethical claims. The paper uses publicly available evidence to illuminate the role played by financial intermediaries in elite money laundering. The evidence shows that, in pursuit of organisational and personal interest, the financial intermediaries create enabling structures that support illicit activities of political and economic elite in Nigeria. The paper concludes that the establishment of money laundering laws and the creation of anti‐money laundering agencies had not brought about professional transparency and ethical conduct.The paper therefore suggests that Nigeria needs to reform its financial institutions to promote integrity, accountability and ethical professional conduct to curb money laundering and to build trust in the Nigerian financial system. The social, economic and political effects of financial intermediaries' anti‐social practices are significant as huge amounts, often dwarfing the gross domestic product (GDP) of many nation states, are involved. These questionable practices by financial intermediaries increase profits, but harm citizens.The paper is a general review of literature and evidence on contemporary issues.
- ItemOpen AccessCorruption as an obstacle to development in developing countries: a review of literature.(1997) Olatunde, J.OContemporary literature has paid scholarly attention to corruption from a variety of competing perspectives. However, broader accounts of the impact of corruption on development in developing countries are relatively scarce. The purpose of this paper is to examine the effect of corruption as a social impediment to development, which has a devastating effect on developing countries. The paper explores the relevant literature and the different perspectives that have been developed and conducted for investigating corruption in developing countries. The paper uses publicly available evidence to show that political, economic elite engaged in corrupt practiceThe evidence shows that socio‐political and economic development, politics, power, history and globalisation have continued to reproduce and transform the institutional structures and actors which have facilitated corrupt practices in developing countries. The review shows that large sums of government revenue have been undermined by the corrupt practices of the political and economic elite (both local and international), which have enriched a few, but impoverished most.The paper seeks to bring the anti‐social activities of political, economic and professionals under scrutiny and offers some suggestions for reforms.Corruption has played a major role in causing serious damage to the economic and social landscape in developing countries. This in turn, has undermined social welfare and also investment in the public services, thereby eroding the quality of life and producing a decline in average life expectancy. The paper is a general review of literature and evidence on contemporary issues.
- ItemOpen AccessThe Marketing Mix: Perspectives, Operational Uses and Management(Department of Business Administration University of Lagos, 1998) Adeleye, A. S.The concept of marketing mix has arguably attracted more divergent views from authors in marketing literature than any other marketing concepts. The degree of diversity of perspectives adopted by several authors on the concept of marketing mix has almost assumed an equal dimension vis-a-vis the plethora of definitions of marketing in the marketing literature. Attempts will therefore be made in this paper to briefly examine the original contributions to knowledge as regards the study of marketing mix. Furthermore, the paper will also attempt to identify the gaps in the existing body of knowledge on marketing mix in pursuance of the operational uses of marketing mix to business organisations. In addition, the actual management of marketing mix shall be taken into cognisance in this regard.
- ItemOpen AccessSmall Business Loan Decisions:(Sage Publications, 1998-07-29) Owualah, S.I.The paper reports the results of a survey of small business loan decision criteria in two countries at very different stages of development. Japan and Nigeria present striking contrasts, not only in terms of stages of their levels of economic development but also in socio-economic infrastructures enjoyed by their small businesses. On both counts Japan towers over Nigeria. Hence the perceptions of the banking institutions to small business lending in the former can be used to assess the perceptions of those in the latter. A major finding of this study is that although there is some degree of congruence on what banking institutions in both countries consider as critical in their small business loan decisions, the observed divergences in their perception may be the consequence of institutional or promotional support inequalities between them.
- ItemOpen AccessBanks and Consultants in Nigeria's Job Creation Program.(1999 Kluwer Academic Publisher,Netherlands., 1999) Owualah, S.I.Employment creation has become a central objective of policy in many countries. There is also growing unanimity that it can be better attained via a partnership of the private and public sectors. In order to provide the necessary background, the paper highlights extant evidence on the role of entrepreneurship in employment creation and some of the factors which may constrain it. The paper also evaluates the performance of private banks and management consultants in providing credit and management assistance in the job creation program for unemployed graduates in Nigeria. The evaluation is on the basis of the participants' ratings on some selected performance criteria. On the average, with only one exception, banks obtained better ratings than consultants on six performance criteria that are common to them but failed to meet the participants' expectations on four credit-related criteria
- ItemOpen AccessInternational Transfer Pricing:(1999) Ajibolade, S.O.
- ItemOpen AccessBanking Crisis, Reforms and Availability of Credit to Japanese Small and Medium Enterprises.(University of California, Press, U.S.A., 1999-08) Owualah, S.I.The paper examines the impact of the collapse of Japan's "bubble" economy in the early 1990s and the reforms on the availability of credit to Japan's SMEs especially in the Kansai region - Osaka, Kyoto and Kobe. The extent of the credit constraints faced by SMEs was discerned from the perceptions of their owners and managers via a structured questionnaire. The study found the problem of credit availability to affect SMEs' business performance in different industrial sectors in varying degrees with the most worse off being those in manufacturing. Thus availability, not the cost of credit became a primary concern for SMEs generally. The paper advises the thrust of policy actions should be in ensuring that the conflicts from the reforms do not further undermine access to funding by SMEs.
- ItemRestrictedThe Role of Pricing Decisions In Implementing Marketing Strategies(Faculty of Business Administration University of Lagos, 2002-01) Adeleye, A. S.This paper is aimed, among others at contributing to the frontiers of knowledge, precisely, to the development of marketing education in Nigeria. Added to this, is the aim of improving the level of understanding of marketing by marketing students and practitioners in Nigeria. The paper reviewed relevant literature and organised the knowledge obtained from different studies. To this end, the article attempted to examine the process of pricing a product comprising five steps namely, pricing objectives, pricing determinant, pricing methods, evaluating consumer response to price, and controlling pricing strategy. The strategic implications of each of the aforementioned steps in the product pricing process were also dealt with in the paper. The paper is concluded by asserting that the role playable by pricing in implementing marketing strategy will depend on the ability of the firm to establish pricing objectives, identify pricing determinants, design pricing methods, evaluate consumer responses to price and control pricing strategy.
- ItemOpen AccessThe Development Of Accounting In Nigeria:(2004-06) Adeyemi, S.B.; Ogundele, B.O.The rapid changes in the field of accounting necessitate an occasional evaluation of development in major areas to enable positive changes in the profession. Drawing on a number of primary and secondary sources,-this study outlines the undertakings of the key institutional role-players in accounting development in Nigeria in the pre- and post-independence periods. The study focuses on accounting education. training, and practice. A number of significant achievements have been recorded which make the profession remarkable in providing valuable services in the socio-economic development, of Nigeria. The country's colonial affiliation has had positive impact on the standard observed. However, opportunities exist for improvement. especially, in research and quality of output in view of dynamic global demands, A joint effort of the part of stakeholders is recommended to consolidate the achievements already recorded and uplift the reporting standard in Nigeria and Africa.
- ItemOpen AccessDesigning Appropriate Basic Accounting System For SMEs.(2004-06) Akerele, E.K.
- ItemOpen AccessDesigning Appropriate Basic Accounting System For SMEs.(2004-06) Akerele, E.K.The study focuses oft the crucial roles played (SMEs) in the economies of developing third countries. It is in realization of these roles that there had been strong advocacy with continued impetus for the promotion of SME that deliberate policies have at various times led to the establishment of people oriented programmes such as Family Support Programme (FSP), Family Economic Advancement Programme (FEAP). etc. The study reveals problems inherent ln SME's with emphasis on poor accounting system.It discusses the provision of the law and standards on accounting records and explain further on the analysis of the duration for accounting records, annual returns and the accounting standards. The paper examined accounting system, and also the characteristic of a good internal control system. The study concluded that accounting finds application in almost all fields of human endeavour and also plays the role of measuring and communicating to interested parties the rate of resource utilization and the results achieved there from. A reliable accounting system is indispensable for the growth of any SME.
- ItemOpen AccessEducational Attainment, Formal Employment and Contraceptives Practices among Working Women in Lagos State University(2005) Okafor, E.E; Akinwale, A.AOver the years the international attention has been focused on women empowerment and how to improve their socio-economic status by reducing the heavy burden of large family size through the use of contraceptives. Despite this, many women still suffer discriminations, burden of large family size and all kinds of abuses. Most Nigerian educated women are not insulated from this problem thereby predisposing them to abuses in different facets of life. Based on this, the study examines educational attainment, formal employment and contraceptives practices among working women in Lagos State University. Survey design was adopted for the study. Using Stratified and simple random sampling techniques, quantitative data was gathered through the administration of structured questionnaires in the study population. A total of ninety-five structured questionnaires were distributed to the working women aged 25-60 years. Frequency distribution and chi-square techniques were used for data analysis. The result showed that the majority of the educated women prefer small family size due to occupational stress and domestic responsibilities. The findings also revealed that the desire to limit family size is mainly a function of women level of education and formal employment. However, the majority of the respondents attributed women abuses to the age long patriarchy, which remains unabated. Therefore, this study recommends the need to facilitate women education and economic empowerment through reliable social policy in order to provide alternative to women illiteracy and under representation in the labour market.
- ItemOpen AccessIndustrial relations in the oil industry in Nigeria.(2005) Fajana, S.Oil and gas are essential components of industrialized civilization and economic growth. Although automation has reduced the need for a considerable amount of manual work, important components still rely on human input. Good employer-employee relations are, therefore, critical to the stable production and supply of crude oil for the sustainable development of the Nigerian economy, as well as to the world economy as a whole. The aim of this paper is to explore practices in industrial relations and social dialogue in the oil industry in Nigeria. The paper examines essential elements for good industrial relations in the sector. It addresses such topics as the positive contribution social dialogue can make towards promoting mutual respect, trust and confidence between the social partners and the Government ofNigeria.
- ItemOpen AccessResidential Environment and Mortality in the Lagos State of Nigeria.(2006) Ojikutu, R.K.This study examines the operational factors of the indoor and outdoor residential environments in the Lagos State of Nigeria for their impact on the mortality of residents. Using a sixteen point index of outdoor and a twenty-eight point index of indoor residential environmental pressure, the deceased were scored one point depending on the existence of the index within the proximity of the residence. It was discovered that about 71.3% of the deceased were subjected to high or very high outdoor residential environmental pressure during their lifetime whereas about 91 % of them were subjected to high or very high indoor environmental pressure. Results show that the extent of outdoor residential environmental pressure depends on the locality of the deceased (i.e. whether such individual lived in a rural or urban local government area) and that there is no significant difference between indoor residential environmental pressure and the locality (urban or rural) of the deceased.
- ItemOpen AccessApprenticeship Scheme and Small-Scale Business: a study of selected Apprentices and their Masters in Lagos metropolis, Nigeria(Medwell Online, 2006) Akinwale, A.A; Okafor, E.EConsidering the prevailing socio-economic situations and increasing unemployment in Nigeria, the demand for apprenticeship scheme and small-scale business would rise. Thus the thrust of this study is apprenticeship scheme and small-scale business in Nigeria using Lagos state as study area. The study was situated within the ambit of Marxist Labour Surplus Theory and Weber’s Social Action. A multi-stage method involving stratified and simple random sampling techniques was adopted and data were source through questionnaire and in-depth interviews administered to 96 Apprentices and 24 Masters in Badagry and Lagos Island areas of Lagos State. Data were analysed using descriptive statistics. The findings showed that both the Apprentices and their Masters varied in terms of their socio-demographic characteristics. Further the findings showed that the amount of capital available to start a business would be a determinant of apprenticeship willingness to create self-employment and that an alternative avenue for employment and income would not be preferred to apprenticeship in a trade that holds economic promise. Moreover, the data showed that the survival of small-scale business in Nigeria would depend on apprenticeship skills and available facilities. Consequently, the study recommended that Nigeria’s immediate steps should centre on not only making funds available, accessible and affordable, but also putting the necessary infrastructure on ground and creating an enabling environment for the operation of small-scale businesses.