This study investigated the effect of selected macroeconomic variables on market capitalization in Nigeria. The study adopted Nigerian stock market capitalization as the dependent variable, while macroeconomic variables such as gross domestic product, interest rate, inflation and exchange rate were used as the independent variables. Time series secondary data on the study variables were obtained for evaluation from the Central Bank of Nigeria Statistical Bulletin and the Nigerian Stock Exchange fact book for the period 2001 to 2018. The study employed descriptive statistics and multiple regression analysis based on E-views 10 computer software as the techniques for analysis. The results showed that gross domestic product has significant positive effect on market capitalization; exchange rate has significant negative effect on market capitalization; while interest rate and inflation have insignificant negative association with market capitalization in Nigeria. The study concluded that increasing national output in the economy of Nigeria would ultimately lead to an increase in market capitalization, which is good for developing economy like Nigeria, as it is likely to enhance economic growth and foster rapid development. Based on the findings, the study recommended that the regulatory authorities should formulate policies that would increase national output as it was established that gross domestic product has positive impact on market capitalization. Also, Government should put in place monetary and fiscal policies that would bring about stability in interest, inflation and exchange rates.
Private tutoring has engrossed much attention in Sri Lanka with the growing demand to meet the competitive education needs. This study brings together data collected via questionnaires from parents and students selected schools in four district of Sri Lanka and analyses the factors which determine the demand of private tutoring. The results found that the private tutoring is mainly determined by socio-demographic and economic characteristics of the student and household, such as student’s academic achievement level, intellectual behavior, parent’s level of education, household expenditure level, parent’s satisfaction of the school, parent teacher connectedness and parenting level, leisure choice. Results mainly implies that parents practice their academic and economic power to bypass the weaknesses of the current formal education system in the country creating a number of distortions resulting a huge resource waste and widening the inequality in education. The outcome of this study is useful in improving the formal education system in Sri Lanka.
Determinants of the Technical Efficiency Performance of Privatized Manufacturing Firms in Nigeria: An Econometric Analysis (Published)
This work is designed to empirically evaluate the determinants of the technical efficiency of ten privatized manufacturing firms in Nigeria. The firms were selected from the numerous firms in the four geo political zones to represent the interest of the entire country due to their age long establishment, size and government equity investment in them. The study adopted Data envelopment analysis (DEA) and ordinary least square regression as the techniques of analysis and the period of analysis is five years before and five years after privatization. The efficiency scores generated from the first stage using Data Envelopment Analysis (DEA) was used as dependent variables in the second stage against a set of explanatory variables. The investigation revealed that concentration ratio, size and age of firms were considered as determinant of technically efficiency. It also shows that, concentration ratio will lead to higher monopoly power, with age firms gain experience and with size, firms gain more strength to control or have a larger share of the market. It is recommended that there should be market competition with liberalization of entry conditions, in order to terminate monopoly and allow for new entrants to make operations competitive for production. This will be in line with the industrialization policy.
On-Field Sports Spectatorship and Patronage: A Sociological X-Ray of Its Determinants for Effective Sports Management in Developing Countries (Published)
The critical and sociological insight on the on-field sports spectatorship and patronage in any society is important in sport studies especially for effective sports management. The on-field sports spectatorship and patronage can be influenced by diverse societal forces or determinants such as spectator’s level of interest, motivation and involvement in sports; type of sports involved; type/level of sports participants; safety and security in and around sports venues; ticket, ticketing and ticket dynamics for sports; finance and income level of sports consumers; publicity and media coverage of sports; crowd control mechanism at sports venues; social influencers and significant others in sports; means and distance to sports venues; purpose of sports meet; level and type of officials and officiating; composition of spectators or sports crowd; sponsors of sports events; stage of the sports competition; level and quality of sports organization; spectators’ past sports experience; establishing social contacts with sports personalities at sports venues; servicescape and sportscape of the sports facility; location of the sports venue; sports history of players, teams or clubs; sports schedule in terms of day and time; sports violence and hooliganism; intrinsic quest for sports entertainment; weather condition; sports culture of the society, and demographic characteristics of sports consumers. It was suggested among others that Ministry of Sports and sports organizations should boost the sports interest of spectators, motivate and sensitize them on the need for on-field sports spectatorship and to patronize sports. Sports organizers should consider the type of sports programme to package for spectators.
Determinants Influencing the Demand of Microfinance in Agriculture Production and Estimation of Constraint Factors: A Case from South Region of Punjab Province, Pakistan (Published)
This study was conducted in the south region of Punjab province of Pakistan. Four districts were purposely selected to examine the determinants which critically instigate the demand for borrowing micro finances in agriculture farming. The research also attempted to analyze those socio-economic factors which established constraints for acquiring loan from micro finance institutions (MFIs). Research design for this study was primary study along with filed observations. A multistage sampling technique was applied to collect primary data from selected districts through structured questionnaires after pre-testing and seeking the expert opinions of MFIs officials. Tobit regression model and multiple regression models were applied to estimate the impact of socioeconomic variables on the microfinance accessibility and constraint level. The descriptive statistics of respondents along with frequency and percentages distribution was also carried out. The results illustrated that five determinants; gender, age, education, farm size and dependency ratio had significant influence on the demand of microfinance. Farm experience and primary occupation were non-significant. Income level of farmers was negatively correlated with the demand of microfinance. The study proved that three constraints; far-away distance of MFIs, complex lending procedure and high interest rates were top in the constraint list. The results of multiple regression model explained that education level, land ownership and preferences of farmers for informal finances have negative relationship and reduces the constraints to access microfinance. The findings also revealed that for efficient allocation of resources, MFIs preferred to disburse loan towards educated and young age farmers as they are more inclined to use latest farm production technologies. The study concluded that farmer base organizations (FBOs) should be registered with district agriculture extension office to educate the farmers on loan acquisition process, record keeping and to encourage the saving habit. A public- private co-integrated policy is needed to implement in south region of Punjab province to effectively handle the rural financial constraints
Socio-Economic Determinants of Youth Empowerment By Fadama Iii Project In Delta State, Nigeria: Implications For Agricultural Transformation (Published)
This study was conducted in Delta State. It assessed the contributions of Fadama III empowerment activities toward youth development. The specific objectives were to: describe the socio-economic characteristics of the participants, ascertain the participation level of youths in the project, examine the determinants of youth empowerment by Fadama III, and identify the issues militating against youth empowerment in Fadama III. The multistage sampling procedure was used to gather data from 105 youths. Descriptive statistics and multiple regression were used to analyze collected data. The socio-economic characteristics result showed that youths from 28 – 32 years were highest (41.9%) in the project. Most of the youths (78.1%) involved in Fadama III were males, high proportion (55.2%) of the youths were married, 61.9% possessed secondary education and 88.6% cultivated less than an hectare. The level of youths participation was moderate (x ̅ = 2.53). The major constraints militating against the youth participation in Fadama III were poor capital base (x ̅ = 3.34), inefficient training session (x ̅ = 3.30), poor project finance (x ̅ = 3.29) and poor communication ideas in farming technology (x ̅ = 3.26). The regression result (R2 = 0.840) showed that the determinants of youth empowerment by Fadama III were sex which was significant at 1% level while marital status and educational level were inversely proportional to youth empowerment at 1% and 5% level of probability respectively. The study concluded that marriage and high educational status reduce the tendency of active involvement in Fadama III agricultural activities. It was recommended that training should be given to the married and educated youths.
PERCEPTION OF THE DETERMINANTS OF MATERNAL MORTALITY IN CALABAR SOUTH LOCAL GOVERNMENT AREA OF CROSS RIVER STATE, NIGERIA (Published)
Objective: To identify perceived determinants of maternal mortality in Calabar South Local Government Area of Cross River State. Study design: A cross-sectional study design was used to identify perceived determinants of maternal mortality in Calabar South Local Government Area of Cross River State. About 360 respondents were selected using multi-stage sampling technique and a structured questionnaire was used to generate data from the respondents. Data collected were analysed using SPSS version 16.0 and chi-square was used to test for association between variables at 0.01 level of significance. Results: The results showed that maternal death were known to occur at home (24.7%), health facilities (24.4%), Traditional Birth Attendant homes (12.5%), churches (0.3%) and 7.5% in prayer houses. About 45% of maternal deaths were believed to occur outside the health facilities. Bleeding (39.2%), prolonged obstructed labour (17.2%), eclampsia (4.2%), abortions (3.3%), infections (1.7%), anaemia (1.9%) and malaria (0.8%) were perceived causes of maternal deaths. Delays in taking actions when danger signs occurred (24.7%), delivery of high risks pregnant women outside the health facility (28.2%), non-utilisation of Antenatal services (19.7%) and non-chalant attitude of health workers towards pregnant women (19.6%) were reported to perpetuate maternal deaths. This study also showed that educational status (P<0.01), socio-economic status (P<0.01) of pregnant women and socio-cultural practices influence maternal outcomes. Conclusion: Improving obstetric services in health facilities would facilitate optimal use of ANC and delivery services among pregnant women.
MODELING THE INDICES OF ORGANIZATIONAL AND MARKETING INNOVATIONS ADOPTED BY SMALL SCALE FLOUR AGRO- MARKETING FIRMS ABIA STATE, NIGERIA (Published)
A detailed analysis of the indices of organizational and marketing innovations has been examined in this study. The specific objectives duly analyzed were identification of the features of small scale flour marketing firms; analysis of the profitability and efficiency of the firms using income statement; ascertaining the determinants and indices of organizational, marketing and technological innovations. The technique of data collection was firstly a purposive sampling method to choose Aba and Umuahia Metropolis and small scale flour marketing firms and; secondly a random sampling selection technique was employed in selecting fifty specific firms for the study. The data elicited from sampling of fifty small scale flour marketing firms were analysed via descriptive statistics, income statement, probit and Ordinary Least Square Multiple regression analyses. The report from the results analyses showed that the significant indices of marketing innovation were price strategy, promotion strategy, distribution method, sales method, packaging and production strategies. On the other hand, significant indices of organizational innovation included work arrangement, quality management, motivation, use of promotion, product modification and employee schedule. The organizational innovation was highly significant than marketing innovation of small scale flour marketing firms in contributing towards enhancing the performance of small scale flour marketing firms. Thus, the organizational and marketing innovation indices analyzed in this work remained very significant and highly important tools for profitable marketing activity and in unlocking the marketing potentials of the firms and in encouraging competitive advantage over other firms that were indifferent about the strength of these organizational and marketing innovations. The study indicated that any small scale flour marketing firm that adopted for proper marketing and organizational innovations adapted successfully to emerging marketing challenges. Thus, it is recommended that small scale flour marketing firms should properly engage in organizational innovation involving work arrangement and effective employee work schedule which will contributing efficiently to better firm performance. Further, it is recommended that small scale flour marketing firms should include in their innovation portfolios price strategy, promotion strategy, distribution method, sales method, packaging, motivation, work arrangement, and product modification respectively which have the potentials to sustain the performance of the firms extensively.
The study analyzed the determinants of net returns to agroforestry in the humid rainforest belt of Nigeria. The multi-stage random sampling technique was used in selecting the sample. The sample size comprised 120 agroforestry practitioners who were selected from the list provided by the staff of the Imo state Agricultural Development Programme (ADP). The results of the ordinary least squares multiple regression analysis showed that farm size, years of farming experience, tree crop density, educational attainment, extension contact, type of soil fertility replacement materials used, and farmers age are the major determinants of net returns to agroforestry practice in the state. It was suggested that co-operative farming and communal system of land use could significantly enhance participation in agroforestry in Imo State, Nigeria.
Every citizen is legally bound to pay tax to the government to enable to meet its expenditures to discharge its obligations regarding defense, education, public health, law and justice, infrastructure etc. In most of the countries, tax revenue is a major source of government income. Taxes also play a very important role in the economic development of a country. Tax evasion is concerned with all unlawful activities which are adopted by the taxpayers in order to escape from the payment of tax. The objective of this study is to probe the determinants (causes) of tax evasion in Pakistan from both tax payers and tax collectors point of view. In order to record the views of both tax payers and tax collectors the author has collected data from 150 respondents through two separate structured questionnaires. The data collected through this method has been analyzed through different statistical techniques such as arithmetic mean, percentages, standard deviation, t-tests, ANOVA etc. The results highlight six main cause of tax collection: unproductive expenditures / misuse of funds, anti-tax culture, corrupt tax administration, multiple & higher tax rates, complex tax system and amnesties and incentives for tax evaders. The author has also made certain recommendations to combat tax evasion problem and submitted suggestions to improve tax collection in order to ensure financial independence of Pakistan.
The study analyzed the determinants of net returns to agro forestry in the humid rainforest belt of Nigeria. The multi-stage random sampling technique was used in selecting the sample. The sample size comprised 120 agro forestry practitioners who were selected from the list provided by the staff of the Imo state Agricultural Development Programme (ADP). The results of the ordinary least squares multiple regression analysis showed that farm size, years of farming experience, tree crop density, educational attainment, extension contact, type of soil fertility replacement materials used, and farmers age are the major determinants of net returns to agro forestry practice in the state. It was suggested that co-operative farming and communal system of land use could significantly enhance participation in agro forestry in Imo State, Nigeria.
Rural women farmers play significant role in both agricultural production and home management. Despite these roles, their saving capacity seems to have been empirically documented in Ebonyi State Nigeria. A multistage random sampling technique involving three stages was employed in the section of 180 respondents. Results showed that at 1% level of significant; household size, farm cash income, farm output and distance to nearest market were the major determinants of saving capacity. The women mainly save in non-cash way which involved saving through investment in livestock production and storage of farm produce. However, minority of the women that practice cash saving, safe keep their money in the house and lending of money to fellow needy farmers. Fear of bank failure, inadequate income due to lack of access to productive resources and low returns, high consumption rate out of available income, and bureaucracy involved in opening bank account were identified as the major constraints to rural women farmers saving capacity. The study based on the finding recommended the creation of enabling socio-economic environment that will increase the rural women farm income through market creation for farm output and subsidy in the price of farm input. Again, the rural financial intermediaries should encourage farmers to save by raising the interest paid on saving; this will discourage farmers from saving in kind or hoarding cash in the house which usually lead to loss of wealth in case of thefts, burglaries. Finally, Government and banks should create channels through which farmers especially rural women farmers can be educated on saving modalities; this will not only encourage investment and consequently their saving capacity.
The Determinants of Foreign Reserves in Nigeria (Review Completed - Accepted)
It has been seen that Foreign exchange reserves adequacy is a key component of good macroeconomic management. The modified version of the buffer stock model was applied to assess the determinants of foreign reserve in Nigeria. The study regressed foreign reserve variable on macroeconomic variables: real income, interest rate differential (a measure of opportunity cost), exchange rate volatility, financial openness, current account vulnerability, benchmark stock of reserves, and the demand for foreign exchange. In order to avoid any spurious regression results, the time series data from 1970 -2010 was subjected to stationarity tests. The ADF cointegration procedure used suggested the existence of long run relationships. Hence, the short run dynamics was examined by means of an error correction model. The empirical evidence shows that growth in Nigeria’s foreign reserves is not influenced in the long run by current account vulnerability (proxied by trade opennes), the opportunity cost of holding reserves (DID) and the benchmark stock of reserves but by other determinants such as the real Gross Domestic Products (Y), exchange rate volatility (Ev), financial openness (Fop), and the demand for foreign exchange (DFex).
Determinants of Agricultural Sustainability in Southeast Nigeria -The Climate Change Debacle (Published)
The renewed quest for sustainable economic development which is synonymous with sustainable agricultural development and hence agricultural sustainability impelled this study titled “Determinants of Agricultural Sustainability in Southeast Nigeria”. Southeast Nigeria is located within latitudes 5oN to 6o N of the equator and longitudes 6oE and 8oE of the Greenwich (prime) meridian (M.S corporation, 2009). Multi-stage sampling technique was used to select a sample of 312 cassava based food crop farmers from whom data were collected using structured and validated questionnaire. Data bothering on the respondents’ socio-economic characteristics, the type, quantity, and sources of inputs used and output produced were collected. These were analysed with the use of descriptive statistical tools and ordinary least square multiple regression analytical tools. Result showed that factors such as farm size, annual income, household size, level of education, and climate change are significantly and inversely proportional to sustainability level of farmers, while labour cost was significantly but directly proportional to agricultural sustainability. It was concluded that, efforts should be made at both micro and macro levels of government to improve on the mitigation and adaptive strategies of climate change available to farmers by making such more affordable, available and user friendly through extension education on the appropriate uses of such technologies in a more sustainable manner.