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International Journal of Applied Business and Management Sciences

International Journal of Applied Business and Management Sciences

Frequency :Bi-Annual

ISSN :2582-6581

Peer Reviewed Journal

Table of Content :-International Journal of Applied Business and Management Sciences, Vol:3, Issue:2, Year:2022

SMALL BUSINESS MORTALITY AND SURVIVAL STRATEGIES IN NIGERIA

BY :   Etim Osim Etim, Akpan James Williams, Augustine Brendan Inyang and Michael Esua EKikor
International Journal of Applied Business and Management Sciences, Year: 2022,  Vol.3 (2),  PP.121-160
Received: 29 July 2022  | Revised: 28 August 2022  | Accepted : 09 September 2022  | Publication: 29 December 2022 
Doi No.: https://DOI:10.47509/IJABMS.2022.v03i02.01 

Small businesses in Nigeria have been characterized by high mortality within their first five years of existence, only about five or ten percent survive, thrive and grow to maturity. Effort was made in this study to assess small business mortality and survival strategies in Akwa Ibom State, Nigeria. Cross Sectional Survey Research design was adopted for the study. Data for the study was obtained through questionnaire administered on 384 respondents who were selected using Systematic Random Sampling technique. Descriptive analytical tools like frequency counts, percentages and means were used to analyze the data. Four hypotheses were formulated and tested using simple linear regression and multiple regression analyses. Results show that there is significant and negative relationship between managerial skill and business mortality. There is significant and negative relationship between marketing strategy and small business mortality. Findings also showed that significant joint influence of managerial skills, succession plan and marketing strategy on small business survival in Akwa Ibom State. Thus, it is concluded from the study that managerial skills, succession plan and marketing strategy at affect the small businesses in Akwa Ibom State, Nigeria. Recommendations from the study are that entrepreneurs should acquire needed managerial skills from the onset or hire people with needed competent for the business. They should have effective marketing strategy that will help them cope with competition and gain strategic advantage that will aid them stay in business.

Keyword: Small business, mortality, survival strategies, succession plan, managerial skills

Etim Osim Etim, Akpan James Williams, Augustine Brendan Inyang & Michael Esua Ekikor (2022). Small Business Mortality and Survival Strategies in Nigeria. International Journal of Applied Business and Management Sciences. 3(2), 121-160. https://DOI: 10.47509/IJABMS.2022.v03i01.01


HOW FAR UNEMPLOYMENT AFFECTED BY CAPITAL EXPENDITURE & GROWTH DURING POST ECONOMIC REFORM PERIOD IN INDIA

BY :   Jitendra Kumar Sinha
International Journal of Applied Business and Management Sciences, Year: 2022,  Vol.3 (2),  PP.161-174
Received: 20 July 2022  | Revised: 18 August 2022  | Accepted : 19 September 2022  | Publication: 29 December 2022 
Doi No.: https://DOI:10.47509/IJABMS.2022.v03i02.02 

The study examined the impact of the government expenditure disaggregated into capital expenditure and recurring expenditure, and private investment on the unemployment rate in India and its implication for economic development for the post-economic reform period 1990-2021, based on the model that assumes unemployment as the function of government spending segregated into capital and recurrent expenditure, real GDP growth rate, Gross Capital Formation as a percentage of real GDP, and private investment. The stationary test of the time series employed in the study was investigated through the application of the Augmented Dickey-Fuller (ADF) test. Capital expenditure, both in the short-run and long-run, catalyzes the reduction of unemployment malaise, while recurrent expenditure is not statistically strong enough to do the same. The study makes the recommendations: i) systematically reduction in recurrent expenditure, to free more resources for capital spending to help generate employment; ii) carefully remove price control and structural rigidities to encourage competition and by extension private sector investment; iii) sustainable subsidies towards production to encourage private sector investment; and (iv) design comprehensive incentive packages for key employment generation sectors: Agriculture, Transportation, Energy Production, Telecommunication, and Manufacturing & Mining for the substantial reduction in unemployment.

Keywords: Unemployment; Capital Expenditure; Recurring Expenditure; Real DDP Growth rate; Private Investment.

JEL Classification Codes: E24; J21; O47.

Jitendra Kumar Sinha (2022). How far Unemployment Affected by Capital Expenditure & Growth during Post Economic Reform Period in India. International Journal of Applied Business and Management Sciences. 3(2), 161-174. https://DOI: 10.47509/IJABMS.2022.v03i01.02


OLUMIRIN WATERFALL TOURIST CENTRE AND SOCIO-CULTURAL TRANSFORMATION OF ERIN-IJESA RURAL COMMUNITY IN OSUN STATE, NIGER

BY :   Gabriel Olusola OWAGBEMI and Lucky Wellington BAZUNU
International Journal of Applied Business and Management Sciences, Year: 2022,  Vol.3 (2),  PP.175-197
Received: 29 July 2022  | Revised: 28 August 2022  | Accepted : 09 September 2022  | Publication: 29 December 2022 
Doi No.: https://DOI:10.47509/IJABMS.2022.v03i02.03 

Olumirin waterfall tourism is a recognized location in Nigeria and enlisted one of the natural tourisms which attracts both local and foreign visitors. In spite the fact that Olumirin waterfall is one of the tourist centres in the country, there is no visible social activities that can transform the rural community. It is in the light of this gap. that this study seeks to assess the benefits that would be attracted to the host community, if the waterfall is turned to a resource. This study therefore, seeks to assess the benefits of Erin-Ijesa waterfall as a natural tourist centre in the host community as well agent of socio-cultural change. This study adopted survey cross sectional research design. The survey was descriptive in nature and aimed at capturing primary data. The sample size for this study consisted of 385 respondents. Structured questionnaire and in-depth interview guide were utilized to elicit both quantitative and qualitative data. Data collected were analyzed using percentages and inferential statistics were also used to test the hypotheses. All the hypotheses were tested at 0.05 level of significance. The chi square results however revealed that there was a significant relationship between years of residence and the impact of tourism on host community [r(391)= 0.162, p < 0.05]. This was such that the higher the years of residence in the community, the more the people tends to perceive tourism as having positive impact on the community. This negated the formulated hypothesis 1 and it was rejected. Also, the respondents affirmed that the presence of Olumirin waterfall has contributed to the acknowledgement of the cultural practice in the community with X2 value of 139.048, df of 4 and a p value that was less than .05, the variances in the frequency distributions were significant. This implied that Olumirin waterfall has created higher values for the cultural features in Erin-Ijesa community. This negated the formulated hypothesis 2 and it was rejected. The study concluded that Olumirin waterfall tourism initiatives contributed significantly to social life of the local community. However, to sustain the contributions of this tourism initiatives to Erin-Ijesa rural community therefore, it was recommended that, there is need for State government and private individual to invest more on Olumirin waterfall so as to make it attractive to tourists and this will influence the social life of the community.

Keywords: Waterfall, tourist centre, socio-economic transformation, rural community

Gabriel Olusola OWAGBEMI and Lucky Wellington BAZUNU (2022). Olumirin Waterfall Tourist Centre and Socio-Cultural Transformation of Erin-Ijesa Rural Community in Osun State, Nigeria. International Journal of Applied Business and Management Sciences. 3(2), 175-197. https://DOI: 10.47509/IJABMS.2022.v03i01.03


CORPORATE SOCIAL RESPONSIBILITY INVESTMENTS, PROFITABILITY AND QUOTED CONSUMER GOODS FIRMS IN NIGERIA

BY :   Efeeloo Nangih
International Journal of Applied Business and Management Sciences, Year: 2022,  Vol.3 (2),  PP.199-212
Received: 19 September 2022  | Revised: 10 October 2022  | Accepted : 19 October 2022  | Publication: 29 December 2022 
Doi No.: https://DOI:10.47509/IJABMS.2022.v03i02.04 

Business entities are “corporate persons”. Like human beings, they exist in the environment. Their activities influence their environments and vice versa. Accordingly, the way they influence their business environments can impact their operations and by extension, their profitability. This study assessed the effect of CSR Investments on the profitability of quoted consumer goods firms in Nigeria. The study proxied the independent variable (CSR investments) by corporate donations, while the dependent variable (profitability) was measured by profit after tax. Management efficiency was used as a moderating variable. It employed the ex-post facto research design, and was theoretically anchored on the Legitimacy theory. Data were purposively collected from annual reports of the selected companies and analyzed using descriptive statistics, correlation, and regression analysis. The results obtained revealed that corporate social responsibility investments relate positively, but insignificantly with profit after tax. It was concluded that corporate social responsibility investments did not impact profitability, since it was not significant. The study, therefore, recommended that consumer goods firms should re-evaluate their CSR investments as well as sustainability strategy; not only to ensure a peaceful operational environment for the firm but to increase their profitability.

Keywords: Corporate Social Responsibility Investments, Corporate Donations, Management Efficiency, Profitability, Profit after Tax

Efeeloo Nangih (2022). Corporate Social Responsibility Investments, Profitability and Quoted Consumer Goods Firms in Nigeria. International Journal of Applied Business and Management Sciences. 3(2), 199-212. https://DOI: 10.47509/IJABMS.2022.v03i01.04


PSYCHOLOGICAL OWNERSHIP AND JOB SECURITY AS PREDICTORS OF WORK ENGAGEMENT AMONG BANK EMPLOYEES

BY :   OBISESAN, Francis Oludare and ADEGOKE, Asimiyu Kolawole
International Journal of Applied Business and Management Sciences, Year: 2022,  Vol.3 (2),  PP.213-238
Received: 11 October 2022  | Revised: 30 October 2022  | Accepted : 22 November 2022  | Publication: 29 December 2022 
Doi No.: https://DOI:10.47509/IJABMS.2022.v03i02.05 

Failure of employees to understand that certain psychological factors play important roles in their ability to adapt and cope with the dynamic change inherent in the banking business environment can affect their levels of engagement in the job. Based on this and other related reasons, the study investigated psychological ownership and perceived job security as predictors of work engagement among bank workers. Ex-post facto research design was adopted and purposive sampling technique was used to select 333 bank employees in Ibadan. Findings revealed that vigor [F (3,329) = 54.96; R = .65, R2 = .42, Adj.R2 = .41; P<. 01], dedication [F (3,329) = 56.56; R = .65, R2 = .43, Adj.R2 = .42; P<. 01] and absorption [F (3,329) = 19.53; R = .45, R2 = .20, Adj.R2 = .19; P<. 01] were significant predictors of work engagement. Job security was also found to have significant influence on work engagement and its dimensions. Further, dimensions of psychological ownership and job security had significant influence on work engagement F (4,328) = 50.50; R = .69, R2 = .47, Adj.R2 = .46; P<. 01], vigor [R = .66; R2 = .44; F (4, 328) = 64.43; P<.01], dedication [R = .68; R2 = .46; F (4, 328) = 69.22; P<.01] and absorption [R = .43; R2 = .19; F (4, 328) = 18.72; P<.01]. Based on the findings, the study concluded that psychological ownership as well as perceived job security are predictors of work engagement among bank workers. The study recommends that bank employees be allowed to take ownership and control of their jobs, broaden their understanding about the job, carefully communicating negative feedback (if any), providing support and reassurance of the continuity of the job.

Keywords: Psychological ownership, perceived job security, work engagement, bank workers, vigor, dedication, absorption

OBISESAN, Francis Oludare and ADEGOKE, Asimiyu Kolawole (2022). Psychological Ownership and Job Security as Predictors of Work Engagement among Bank Employees. International Journal of Applied Business and Management Sciences. 3(2), 213-238. https://DOI: 10.47509/IJABMS.2022.v03i01.05


IMPLEMENTATION OF MASS CUSTOMIZATION IN INDIA

BY :   Manoj Kumar
International Journal of Applied Business and Management Sciences, Year: 2022,  Vol.3 (2),  PP.239-265
Received: 26 January 2023  | Revised: 13 October 2022  | Accepted : 06 November 2022  | Publication: 29 December 2022 
Doi No.: https://DOI:10.47509/IJABMS.2022.v03i02.06 

Mass customization (MC) has been considered as an important competitive tool to increase the performances of manufacturers all over the world. More and more studies have been exploring the essence of MC and identifying the logic for effective implementation. Based on the theory of complementary assets, this study investigates relationships among MC practices (elicitation, process flexibility technology, and logistics) and their joint effects on financial performance. Simultaneous equation modeling and hierarchical regression analysis are applied to test the hypotheses using data collected from a large-scale survey in India. The results show that the MC practices positively affect each other, and that the interactions among the MC practices positively influence a firm’s financial performance, indicating that the complementary adoption of MC practices is important. This study indicates that successful MC implementation requires the simultaneous deployment of elicitation, process flexibility technology, and logistics practices.

Keywords: Mass Customization, Complementary assets, Financial performance, India.

Manoj Kumar (2022). Implementation of Mass Customization in India. International Journal of Applied Business and Management Sciences. 3(2), 239-265. https://DOI: 10.47509/IJABMS.2022.v03i01.06


A STATISTICAL ANALYSIS OF TIME TO A CLAIM: A CASE OF ZIMBABWE’S HEALTH INSURANCE CLIENTELE

BY :   Desmond Mwembe, Brian Jones, Wilbert Chagwiza and Solwayo Ngwenya
International Journal of Applied Business and Management Sciences, Year: 2022,  Vol.3 (2),  PP.267-288
Received: 02 November 2022  | Revised: 20 November 2022  | Accepted : 05 December 2022  | Publication: 29 December 2022 
Doi No.: https://DOI:10.47509/IJABMS.2022.v03i02.07 

The aim of this study was to find factors influencing time to a claim among the insured population of Zimbabwe. The factors under consideration were age, sex, medical aid scheme and amount claimed from the medical aid society. These were chosen on the basis of the variables that were collected at hospitals where claims were made. Claims data between 2013 and 2016 from the health insurance companies were used. Data were collected from government hospitals and were then cleaned and analysed using R-package and SPSS. Cox regression model from the survival analysis was proposed to find the influential factors in the study. It was established that without interactions, age, sex, and scheme type were influential in shortening time to a claim. After introduction of interactions, scheme type and amount claimed were found to be highly influential in shortening time to a claim. It was concluded that clients with medium premium schemes had a shorter time to a claim irrespective of their gender, medical aid society, age, and amount claimed. The study recommended that medical aid societies should know the expected time to a claim in each medical aid scheme and likely range of amount to be claimed by their clients in order to optimize benefits packages to cover clients’ medical expenses, yet remain within sustainable operating limits.

Keywords: Health, insurance, Cox model, time to a claim, Zimbabwe

Desmond Mwembe, Brian Jones, Wilbert Chagwiza and Solwayo Ngwenya (2022). A statistical analysis of time to a claim: A case of Zimbabwe’s health insurance clientele. International Journal of Applied Business and Management Sciences. 3(2), 267-288. https://DOI: 10.47509/IJABMS.2022.v03i01.07


BOARD CHARACTERISTICS AND DIVIDEND POLICY OF LISTED INDUSTRIAL GOODS FIRMS IN NIGERIA: THE MODERATING EFFECT OF PROFITABILITY

BY :   Sirajo Bappah, Munir Aliyu Saleh and Shehu Usman Hassan
International Journal of Applied Business and Management Sciences, Year: 2022,  Vol.3 (2),  PP.289-308
Received: 11 September 2022  | Revised: 30 September 2022  | Accepted : 22 October 2022  | Publication: 29 December 2022 
Doi No.: https://DOI:10.47509/IJABMS.2022.v03i02.08 

This study examines the impact of board characteristics on dividend policy of listed industrial goods firms in Nigeria, the moderating effect of profitability. The study adopts ex-post factor and correlation research design. The population of the study covers all thirteen (13) industrial goods firms listed on the floor of the Nigerian Stock Exchange as at 31st December 2020. The study utilized two point filters to arrive at a sample size of nine (9) firms and it covers a period of ten years ranging from 2011 to 2020. Data were extracted from the annual report of sampled firms. The study reveal that profitability has a significant and positive moderating effect on the relationship between board independence, board meeting and dividend policy of listed industrial goods firms in Nigeria and it was found to have an insignificant moderating effect on board size, diversity and dividend policy. Based on the findings, it is recommended that listed industrial goods firms in Nigeria should pay close attention to their profitability by ensuring continual growth and increase in their net profit as it was found to moderate the effect board independence and board meetings have on dividend payout ratio.

Keywords: Dividend policy, board characteristics, moderator, profitability, industrial goods firms.

Sirajo Bappah, Munir Aliyu Saleh and Shehu Usman Hassan (2022). Board Characteristics and Dividend Policy of Listed Industrial Goods Firms in Nigeria: The Moderating Effect of Profitability. International Journal of Applied Business and Management Sciences. 3(2), 289-308. https://DOI: 10.47509/IJABMS.2022.v03i01.08


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