Global Journal Of Arts, Humanities And Social Sciences
FOREIGN DIRECT INVESTMENT, REMITTANCES AND ECONOMIC GROWTH IN NIGERIA. DO THESE INFLOWS STIMULATE GROWTH?
Adeleye, Olabanji Kelvin; Ologunwa O.P;Ogunjobi V.O
The effect of international inflow of capital on economic growth has generated a
lot of argument and debate over time. Some concluded that capital inflow does not matter and in
effect cannot stimulate the desired growth while others believed it does matter in promoting the
key macro-economic variables such as the reduction in unemployment and poverty, price stability,
industrialization just to mention a few. Hence, this study was set out to investigate the effect of
Foreign Direct Investment and Remittances on economic growth in Nigeria. The study adopted
other explanatory variables and data were sourced from the World Development Indicator and
Central Bank of Nigeria spanning from 1980 to 2019 and Ordinary Least Square was used to
analyze the data after it has been subjected to unit root stationary test. The study found that
Foreign Direct Investment has a negative relationship with economic growth and Remittances
seem to have a positive effect on economic growth. The study, therefore, concluded that FDI does
not stimulate desired growth while remittances promote growth in Nigeria. In the light of these
findings, the study, therefore, recommended that government should remove impediments
discouraging investment policies that will stimulate the use of FDI in the country. The Nigeria
government should also encourage inflow and monitoring of remittances through financial
institutions to enable them to have adequate data on this inflow to gear it into the growth process
Journal Of Emerging Trends In Economics And Management Sciences (JETEMS)
Does Disclosure And Transparency Of Shareholders Predict Performance: Evidence From Nigerian Listed Firms
Ologunwa O.P (Ph.D) & Oke, Dorcas F.
Agency conflicts arise because managers’ have superior information regarding the present and likely the future
performance of firms relative to outside investors. In order to monitor the managers, investors need information
from managers, who have access to management information. This study therefore examined the effects of
disclosure and transparency of shareholders on the performance of listed firms in Nigeria. The study employed
qualitative and quantitative research method using multiple regression tests with data spanning between 2008 and
2018. The results showed that disclosure and transparency among listed firms have a negative effect on performance
ROA (-4.447), ROE (-2.063) and Tobin’s Q.(-0.123) This could be adduced to the fact that disclosure of negative
information about firms adversely affect patronage and turn over. Although, the analysis of the primary data showed
that respondents in their perception agreed that an annual audit of the company is conducted by an independent
auditor (4.27) while Information is prepared and disclosed in accordance with International Accounting Standard
(4.09), but empirically this is not so. The study concludes that disclosure and transparency of shareholderwas not a
major determinant of firms’ performance at the period of this study. The study recommends that equitable treatment
of shareholders can predict future performance of listed firms; if good policies were placed to improve the
accountability and transparency of managerial decision-making for shareholders.
Public Health Elsevier
Decomposition Analysis Of The Compositional And Contextual Factors Associated With Poor-non-poor Inequality In Diarrhoea Among Underfive Children In Low- And Middle-income Countries
A.F. Fagbamigbe , O.P. Ologunwa , E.K. Afolabi , O.S. Fagbamigbe , A.O. Uthman
Objectives: The aim of the study was to assess the magnitude of wealth inequalities in the development
of diarrhoea among under-five children in low- and middle-income countries (LMICs) and to identify and
quantify contextual and compositional factors' contribution to the inequalities.
Design: This is a cross-sectional study.
Methods: We used cross-sectional data from 57 Demographic and Health Surveys conducted between
2010 and 2018 in LMICs. Descriptive statistics were used to understand the gap in having diarrhoea
between the children from poor and non-poor households and across the selected covariates using Fairlie
decomposition techniques with multivariable binary logistic regressions at P ¼ 0.05.
Results: Of the 57 countries, we found a statistically significant pro-poor odds ratio in only 29 countries,
7 countries showed pro-non-poor inequality and others showed no statistically significant inequality.
Among the countries with statistically significant pro-poor inequality, the risk difference was largest in
Cameroon (94.61/1000), whereas the largest pro-non-poor risk difference in diarrhoea was widest in
Timor-Leste (41.80/1000). Important factors responsible for pro-poor inequality varied across countries.
The largest contributors to the pro-poor inequalities in having diarrhoea are maternal education, access
to media, neighbourhood socio-economic status, place of residence, birth order and maternal age.
Conclusion: Diarrhoea remains a major challenge in most LMICs, with a wide range of pro-poor inequalities. These disparities were explained by both compositional and contextual factors, which varied
widely across the countries. Thus, multifaceted geographically specific economic alleviation intervention
may prove to be a potent approach for addressing the poor and non-poor differentials in the risk of
diarrhoea with policies tailored to country-specific risk factors. There is a need for further investigation
of factors that drive pro-non-poor inequalities found in 9 of the LMICs.
© 2021 The Authors. Published by Elsevier Ltd on behalf of The Royal Society for Public Health. This is an
open access article under the CC BY-NC-ND license
International Journal Of Business Management And Economic Research(IJBMER),
Leadership Structure And Corporate Performance In Nigeria
Ologunwa, O.P , Simon-Oke, O. O. , Sam O.Uniamikogbo
Leadership in terms of structure and style has generated relatively little attention from economic discourse
compared with the influence of financial ratios in the determination of firms’ performance especially in the
developing economies. Therefore, the study considered the effects of leadership structure on the performance of
listed firms in Nigeria, using a panel data analysis of 50 selected listed firms based on firm accessibility,
turnover rate, profit margin and year of existence criteria among others. The data were observed from 2008 to
2017 with the findings showing the Leadership structure positively correlated with the market based value of firms
in Nigeria. It was also revealed that separating personality and position of Board Chairman from the Chief
Executive Officer’s (CEO) position is value enhancing; while the CEO and the Board Chairman are expected to
monitor the activities of firms for effective performance in Nigeria.
International Journal Of Business And Management
THE IMPLEMENTATION OF OECD CORPORATE GOVERNANCE PRINCIPLES IN NIGERIA: EVIDENCE FROM STAKEHOLDERS’ PERSPECTIVES
OLAYEMI SIMON-OKE, TAJUDEEN EGBETUNDE, OLUYEMI OLOGUNWA
This study investigates the stakeholders’ perspectives on the implementation of Organization for
Economic Cooperation and Development (OECD) corporate governance principles in Nigeria. The
study adopted an ex-post research design with a structured questionnaire to elicit information from
the respondents. The descriptive statistical method was also considered as analytical techniques.
Findings revealed that shareholders in Nigerian firms have the right to participate in profits of the
firm; they have the right to vote in general meetings and also have the right to obtain information
about voting rights before purchase of shares. However, the study found that the details about the
capital structure, financial and operating reports of firms were not fully disclosed. It was also
discovered from the study that ownership transfer among shareholders was poorly facilitated, with
minority shareholders not fairly treated. The study concludes that board of directors usually takes
the interest of shareholders’ more important than the stakeholders interest in the firms. It was
however suggested that corporate governance framework in Nigeria should recognize the rights of
stakeholders established by law or through mutual agreements; and encourage wealth creation and
employment opportunities for sound financial sustainability of corporate firms.
FUTA Journal Of Management And Technology
Empirical Analysis Of Board Composition On Firm Performance In Nigeria
O.P. Ologunwa (PhD) & M.A. Abayomi (PhD)
Corporate failures and massive corporate scandals in recent years have led to considerable
interest in board composition in the literature, with a view to enhancing firm performance. A
key component in corporate governance implementation is the role of the board of directors.
This study examines the effects of board composition on firm performance in Nigeria,
employing quantitative research methods using multiple regression tests with panel data
analysis spanning 2008 and 2018. The results of the analysis showed that the average
performance of firms decreased across the years as board compositions became weaker but
did not influence the accounting and market-based measures of firm performance in Nigeria.
This implies that board composition is not a major determinant of firm performance during
the period under review. The study concludes that the relationship between board composition
and firm performance needs to be enforced. Despite the requirements of corporate governance
principles and government regulators, some directors still disclose selectively, especially
when the monitoring and enforcement of disclosure requirements are not strict in Nigeria. The
study recommends that firms should be aware that all stakeholders’ interests are relevant to
business which also adds value to organizational goal.
International Journal Of Research In Management
Challenges Affecting The Implementation Of Corporate Governance Principles In Nigeria
Ologunwa, O. P, Ogunjobi, V.O. And Adigun A. O.
This study examined the perceptions of corporate governance principles in terms of
content and structure, as it affects corporate governance based on the challenges found in the
process ofimplementing the codes that were reviewed. These challenges actually motivate
this study to further investigate the code‘s effectiveness in ensuring improved governance
standards and enhancing the performance of listed firms in Nigeria.This paper adopted a
sampling frame which consists of the 180 listed firms on the Nigerian Stock Exchange as at
September 2014, with total capitalization of N10.16 Trillion. The study also adopted a multistage sampling technique.However the study sample covered the period of 2008-2017 and the
rationale for the choice of this period is that corporate governance guidelines were introduced
in 2003 and modified in 2008 as a guide for corporate governance variables.The study
utilized primary sources of data collection to generate data about the opinion and perception
of officials in the listed firms with respect to performance.The findings showed an
improvement in the implementation of the principles of corporate governance which is
consistent with the stakeholder theory perspective.The study concludes that listed firms in
Nigeria implement the principles of the rights of shareholders. That the assessment of the
quality of shareholders‘ rights and the extent to which shareholders‘ rights were being
protected were based on the principle of the rights of shareholders.Finally, the corporate
governance framework should ensure the strategic guidance of the company, the effective
monitoring of management by the board and the board‘s accountability to the company and
Socio-economic Impact Of Traditional Technology Of Charcoal Production In Kpaai District-Bong County Liberia
Oladeji, S.O. Ologunwa O.P. And Tonkkolie, B.T
Locally produced charcoal through traditional technology is a source of income to the inhabitants of Kpaai district, Bong-County, Liberia and this has invariably contributed significantly to the country Gross Domestic Product. Two sets of questionnaires were designed and administered randomly to eighty seven consumers and fifty five producers representing sample intensity of between 54-68% and 10-10.3% respectively in five communities among the clans of Waytuah and Wotola. Field observation and Interview data collected were descriptively analysed using SPSS 20. Three traditional earth kiln methods of charcoal production were identified among the producers that are mostly male (69.20-85.10%). Women representing 61.20-82.70% of the consumer in the age range of 21-30 years (36.4-71.40%) were spending between 13-25% of their income on charcoal. Producers have recorded various achievement from the income range of between LD5, 000-20,000 realized monthly. Dirty of their bodies and houses, sicknesses, generating smoke and ash dust were the forms of social economic impact being encountered. Research findings will assist Liberia Government in developing appropriate modern technology for efficient charcoal production and sustainable energy generation as part of REDD + implementation process.
International Journal Of Research In Management
Remittance And Economic Growth In Nigeria
Adigun A.O And Ologunwa O.P
This study examined remittances in Nigeria and its impact on economic growth between 1980and 2015 the objective of the study is to look at the correlation between remittance andmacroeconomic variables, examine the trend and pattern of remittance in Nigeria usingsecondary data with time series for the period, the study finds out that workers remit money tofinance consumption and investments of their relations which has impacted on the well-being ofthe recipients, though the impact on economic growth is diverse and so require investigation. Theresult also shows that remittance remains positive sources of economic growth and can help thepoor finance some of their consumption and investment expenditure. Remittance is significantbut the magnitude of impact on economic growth and development remain small the studyrecommended that recipients of remittance should spend more on investment than consumptionto impact on the economy