Tag Archives: Investment

Return on Investment (ROI) In Business Education on Undergraduate Skills Development (Published)

This study determined the influence of ‘Return on investment in Business Education on undergraduate skills development in Federal Universities in Nigeria. The 5 specific objectives postulated were structured into 5 research questions and 5 null hypotheses. The survey design was adopted for the study. A population of 2080 was used of which 460 (22%) respondents were sampled for the study, using multi-stage sampling technique. The researcher designed two sets of questionnaires: Investment in Business Education Questionnaire (IBEQ) and; Undergraduates’ Skills Development in Business Education Questionnaire (USDBEQ) generated data for the study. The instruments were validated by five experts.  The reliability coefficients using Cronbach Alpha reliability analysis were 0.86 and 0.79 for IBEQ and USDBEQ respectively. The null hypotheses were tested using Multiple Regression Analysis (MRA). The findings made were that ‘Return on Investment’ in Business Education: office accommodation; classroom space; physical facilities; equipment; library facilities; significantly influence undergraduate skills development. The null hypotheses were rejected. It is concluded among others that investment in Business Education will continue to yield proportionate returns in terms of undergraduates’ skill development. Recommendations made are that: more academic staff should be employed for Business Education Programme in order to reverse the lopsided ratio of lecturer to student; lecturers should be provided with office accommodation; the ratio of practical to theory in Business Education curriculum should be 60: 40; among others.

Keywords: Business Education, Investment, Returns, Skill

Public Pension Asset and Investment in Housing Infrastructure: Rethinking the Safety-Equity Net in Nigeria (Published)

Infrastructure has become asset class for private investors, most notably through public pension funds but accessing the funds poses challenges. Conditions for accessing pension funds for investment include guarantee for safety of funds and equity in the distribution of investment returns by the investors. This paper is designed to test the relationships between investment in housing infrastructure and safety-equity factor in Nigeria’s public pension funds management. The research design was based on ex post facto method of analysis. from primary and secondary sources of data which were drawn from legislative Acts/gazettes, guidelines, books, journals, conference, workshop and seminar papers, newspapers, statistical tables and the internet. The outcomes of this study showed that public pension funds have strong relationships with safety of funds and equity returns factor, among other key elements necessary to grow and sustain public pension contract. These findings open vista for future intellectual architecture-building in the field of pension funds administration.  

Keywords: Housing Infrastructure., Investment, Public Pension Asset

Financial Reporting Quality and Its Effect on Investment Decisions by Nigerian Deposit Money Banks (Published)

The study investigated the effects of financial reporting quality on investment decision making by Deposit Money Banks in reference to Zenith Bank Plc, Nigeria. Data obtained from the audited annual reports of Zenith Bank Plc that covered period of  2009 – 2016.The study utilised both Descriptive and Ordinary Least Square Regression method with the aid of using  E-view 9 to analyse the data. The findings showed that, there was a significant effect of   variables of (Financial Reporting Quality FRQ measures as profit after tax, cash used in/ from investing and cash and cash equivalent) on investment. The result also shows that, Financial Reporting Quality has significantly influenced on investment of Deposit Money Banks with (R2 = 0.98; P <0.05). The study concluded that, higher financial reporting quality increases investment decision by Deposit Money Banks in Nigeria.

Keywords: Cash, Deposit Money Banks, Financial Reporting Quality., Investment, Nigeria, Profit after tax

Research on the Relationship between Internal Control and R&D Investment (Based On the Empirical Study of Gem Listed Companies) (Published)

Based on the data of GEM listed companies from 2010 to 2015, this paper analyzes the relationship between the internal control and R&D investment of enterprise. The results show that, the internal control quality of the enterprise is positively correlated with the enterprise’s R&D investment intensity; in addition, we also find that the internal control quality of non-state-owned enterprises has a more significant effect on the enterprise’ R&D investment intensity than that of state-owned enterprises; the internal control of high-tech enterprises plays a more significant role in promoting the R&D investment intensity than that of non-high-tech enterprises. On the one hand, this paper has certain theoretical meaning on enriching the academic research of the economic consequences of internal control and of the influential factors of R&D investment. On the other hand, it provides some ways for enterprises to improve R&D investment from the internal mechanism aspect.

Keywords: GEM listed companies, Internal control, Investment, R&D

Savings-Investment and Economic Growth Nexus in Nigeria (Published)

Nigeria as a developing nation needs adequate savings to encourage investment and promote economic growth. Empirically, this work has made an attempt to analyze the impact of savings and investment on the growth of the Nigerian economy. From the result of the study conducted within the period 1970 to 2015, using a battery of contemporary econometric approach involving unit root test, co-integration test and error correction model it was found that factors such as Gross Domestic Savings (GDS), Gross Fixed Capital Formation (GFCF), Labour Force (LAF) and Savings Facility (SF) are the main drivers of economic growth in Nigeria. Furthermore, evidence from the investment model shows that Real Gross Domestic Product and Gross Domestic Savings (GDS) are the two drivers of Investment in Nigeria. This means that if there is proper capital accumulation in the form of savings, investment would be great and sustainable. The multiplier effect is on the well-being of the people through increased capital and output. The study recommended among others that; the government through the Central Bank of Nigeria (CBN) should ensure the reduction of reserve requirements of commercial banks in order to make available adequate funds in form of loans and advances for investment which will boost economic growth. Government should always maintain a good political atmosphere that is devoid of political upheavals because insecurity in the country has contributed immensely to the discouragement of the people from the cultivation of banking habit. More so, foreign direct investment will be discouraged in an environment ravaged with rancor. Banks should be encouraged to establish branches in the rural areas to discourage the rural dwellers from saving in their local saving boxes. This will bridge the gap between savings and investment. The government of Nigeria has a role to play by making policies that would encourage the spread of banks. This would be done by upgrading the standard of the Nigerian banking sector.   Labour force has been revealed to be a positive growth stimulant in the study. Thus, government and the private sector should ensure that there is realistic and practical curriculum development in schools that will evolve a more productive labour force. Finally, the Governor of the apex bank (CBN) and monetary policy committee should liaise with the necessary operators to ensure that there are realistic interest and inflation rates that will stimulate economic activities and bring about the requisite economic growth in Nigeria.

Keywords: Co-integration, Investment, Nigeria, Savings, economic growth

Poverty Reduction through Investment in Technical Education in Akwa Ibom State (Published)

The study determined the opinions of technical teachers about poverty reduction and strategies to be adopted for poverty reduction in Akwa Ibom State. A survey research design was used for the study. Sixty technical teachers were sampled from the population of 131 technical teachers in all the technical colleges in Akwa Ibom State. Poverty Reduction through Investment in Technical Education Questionnaire (PRITEQ) developed by the researchers was used to collect data for the study. The instrument was validated by three experts from University of Uyo and the reliability coefficient of the instrument was .86. Data obtained were analysed using mean and simple percentage. Findings of the study revealed that poverty reduction may occur through investment in technical education. Also, mandatory technical education, siting of industries/skill acquisition centres, adequate funding of poverty reduction programmes and training people for self reliance are the strategies to be adopted for poverty reduction in Akwa Ibom State. It was recommended among others that government and international agencies should fund technical education programme heavily.

Keywords: Investment, Nigeria, Poverty Reduction, Technical Education

Real Estate Investment Trusts (Reits) And Mortgage Backed Securities (Mbs) As Emerging Trends For Financing Real Estate Development In The Nigerian Capital Market (Published)

Before now, real estate was regarded as a very cumbersome investment media to venture into. This was largely due to the huge financial outlay required for real property projects, which were often difficult to raise and as such, only the few privileged elite invested in real estate. However, of recent, real estate investment is now securitized (that is, sold as securities in the capital market), thus making it easier for the average investor to engage in. This paper studies the Real Estate Investment Trust (REIT) and Mortgage Backed Securities (MBS) as new channels of harnessing finance for real estate development and the effectiveness of securitization in the Nigerian real estate sector.

Keywords: Capital market, Finance, Investment, Mortgage Backed Securities, Real Estate, Real Estate Investment Trust, and Securitization.

Estimating Factors Affecting Investment in the Iraqi Arable Land for the Period 1990-2013 (Published)

The research is focused on the investment in the Iraqi agricultural infrastructure. The problem to be studied in this research is that the agricultural sector in Iraq is strictly suffering from the lower productivity because of the limited investment, especially in the reclamation of more land areas through providing water for irrigation. Data for the period 1990-2014 are used in the analysis. They include the quantities of funds invested in the reclamation of land area, the numbers of hectares reclaimed, the gross domestic product and the annual agricultural production. A mathematical model is formulated by which the economic phenomena is analyzed by means of the method of Ordinary Least Square. GDP and the value of agricultural production were positively proportionate with the quantities of funds allocated to be invested in the reclamation of arable land and conformable to the rules of economic theory. When the value of agricultural production increase by 10%, the funds investment in the reclamation process will increase by 56.8 million dollar. However, there was no influence to the variable of the agricultural area reclaimed on the funds of investment in the reclamation process. It was negatively proportionate with the quantities of funds invested.

Keywords: Investment, Mathematical model, reclamation

Implications of Savings and Investment on Economic Growth in Nigeria (Published)

The implication of savings and investment on economic growth is mixed and controversial both theoretically and empirically. There is large empirical literature which examines the relationship between savings and economic growth in Nigeria. There is also a considerable literature which looks at the relationship between economic growth and investment. However, little attention has been given to examining the implications of savings and investment on economic growth in Nigeria. The aim of this paper is to evaluate the implications of savings and investment on economic growth in Nigeria using ordinary least square regression. Results for ADF and PP unit root tests show that all variables under consideration are I(1). The study also revealed that there is long run relationship between savings, investment and economic growth in Nigeria. The result of the regression indicates that change in gross domestic savings movements has negative and significant effect on the change in economic growth in Nigeria and that the change in gross domestic investment has positive and significant effect on the change in the Nigerian economic growth. We therefore recommend that government should set a sound and fertile environment in order to foster domestic saving that will help to increase the level of economic growth in Nigeria

Keywords: ADF, Investment, PP., Savings, economic growth

Implication of Savings and Investment on Economic Growth in Nigeria (Published)

There is large empirical literature which examines the implications of savings and investment on economic growth in Nigeria. However, little attention has been given to examining the implications of savings and investment on economic growth in Nigeria. The aim of this paper is to evaluate the implications of savings and investment on economic growth in Nigeria using ordinary least square regression. Results for ADF and PP unit root tests show that all variables under consideration are I(1). The study also revealed that there is long run relationship between savings, investment and economic growth in Nigeria. The result of the regression indicates that change in gross domestic savings movements has negative and significant effect on the change in economic growth in Nigeria and that the change in gross domestic investment has positive and significant effect on the change in the Nigerian economic growth. We therefore recommend that government should set a sound and fertile environment in order to foster domestic saving that will help to increase the level of economic growth in Nigeria.

Keywords: ADF, Investment, PP., Savings, economic growth

Dividend Payout Pattern: Nigeria Deposit Money Banks in Perspective (Published)

Investors invest their money with the hope to have returns that could improve their welfare in future. Dividend is one of those expectations that investors hope to get as a result of their investment. A Company pays dividend in order to encourage further investment for growth. However, the degree and extent by which dividend is made depend on the organization management decision. There has been contradicting arguments on firms dividend payout ratio such as rightist, leftist and the middle of the road hypothesis on whether firms should pay dividend or not. Hence there has not been any conclusive study on the factors that determine the dividend growth pattern of Deposit Money Banks in Nigeria. It is this perceived gap that informs the empirical analysis of growth pattern of dividend payout of quoted banks in Nigeria. The study relies majorly on secondary data sourced from the financial report of seven (7) quoted banks in the Nigeria Stock Exchange. It was found that all the explanatory variables (inflation, share price and earnings per share) have significant impact on dividend payout. The study recommends that deposit money banks in Nigeria should improve on their performance so as to increase earnings which will go a long way in determining the Dividend Payout Pattern of their banks while government should makes both investment and production environment suitable for banks to produce locally and avoid much importation to control inflation.

Keywords: Banks’, Dividend Payout Pattern, Inflation, Investment, Nigeria

Optimal Portfolio Mix for Multigrow Insurance Company in Ghana Using Linear Programming (Published)

In this paper, the concept of Linear Programming (LP) was applied to Multigrow Insurance Company in Ghana which had a portfolio problem. The company had obtained GH₵ 200000 cash but had a difficulty in determining how much to invest in each of five investment areas in order to maximize return. Based on the data collected, the problem was formulated as a Linear Programming Problem and solved using Management Scientist Version 5 Software. Optimal portfolio mix was obtained for the Insurance Company. Finally, the total optimal return on the investments of the company was found to be GH₵ 15980. It is strongly recommended that the Company should adhere to the proposed optimal portfolio mix and also employ at least one operations researcher to assist the Company in its activities.

Keywords: Investment, Linear Programming, Optimal Portfolio Mix, Optimal Return., Portfolio

REAL ESTATE INVESTMENT Trusts (Reits) AND MORTGAGE BACKED SECURITIES (MBS) AS EMERGING TRENDS FOR FINANCING REAL ESTATE DEVELOPMENT IN THE NIGERIAN CAPITAL MARKET (Published)

Before now, real estate was regarded as a very cumbersome investment media to venture into. This was largely due to the huge financial outlay required for real property projects, which were often difficult to raise and as such, only the few privileged elite invested in real estate. However, of recent, real estate investment is now securitized (that is, sold as securities in the capital market), thus making it easier for the average investor to engage in. This paper studies the Real Estate Investment Trust (REIT) and Mortgage Backed Securities (MBS) as new channels of harnessing finance for real estate development and the effectiveness of securitization in the Nigerian real estate sector.

Keywords: Capital market, Finance, Investment, Mortgage Backed Securities, Real Estate, Real Estate Investment Trust, and Securitization.

LEARNERS’ PERCEPTIONS OF TEACHER WRITTEN FEEDBACK COMMENTARY IN AN ESL WRITING CLASSROOM (Published)

The purpose of the current study is to examine Arab learners’ perceptions of teacher written feedback commentary in an ESL writing classroom. This study used a Think-Aloud Protocol (TAP) to examine learners’ perceptions of teacher WCF comments, involving fifteen native Arabic speaking ESL learners (11 male, 4 female) in three TAP interviews. The results of this study reveal that participants: 1) had a very high level of interest in teacher comments, 2) appreciated feedback that praised their good work, 3) complained about marginal comments that were not linked to specific errors with no line or arrow, 4) misinterpreted some teacher feedback comments.

Keywords: Identity, Investment, feedback commentary, praise

MULTILATERAL TRADE AGREEMENTS, WTO AND SUSTAINABLE TRADE AND INVESTMENTS IN AFRICA: THE CHALLENGE OF ESTABLISHING UNITED NATIONS GLOBAL BUSINESS REGULATORY AGENCY (UNGBRA) (Published)

As the entire world globalizes in economic and business sense with massive flow of investments across countries, the resultant effect is the multiplicity of regional and other categories of agreements as parts of arrangements to benchmark equalization among world trade stakeholders. Unfortunately, the existence of multilateral trade agreements have not in any way imparted positively particularly on the developing countries, due to the fact that most of these agreements are enmeshed in problems such as inherent contradictions, insincerity, and unenforceability of agreements. Other problems include selfish agenda or narrow mindset of major parties based on winner/loses mindset; and the inability of the entire world trade agreement configurations to promote world justice. This situation has given rise to increased global uneven income distributions, heightened economic stagnation and excruciating poverty. Using Africa as a case study, the paper examines the impacts of multilateral trade agreements in Africa region. It observes that the arrangement has failed to facilitate economic order and developments in Africa region. It concludes by suggesting establishment of a United Nations Global Business Regulatory Agency (UNGBRA) to streamline all agreements, promote policies that ensure ethical trading, global justice and equalization for sustainable developments in international trade system

Keywords: Africa. Sustainable Development, Investment, Trade Agreements, WTO

INTERNATIONAL TRADE: A MECHANISM FOR EMERGING MARKET ECONOMIES (Published)

International trade has contributed greatly to the global economic system. Emerging market economies (EME) was a result of international trade activities. The international trade programme has encouraged many countries in the world to adopt international economic policies that promote greater trade and investment. BRICs acronym implies Brazil, Russia, India and China represent the leaders of these emerging market economies. International trade activities underpin the growth and development of these countries. This study brings round the facts and figures on the activities of international trade and how its fostered growth and development of the emerging market economies. Many theories of international trade were used to underpin these activities of the trade. These include Heckscher-Ohlin model, Rechardian model and Gravity model of international trade. The researchers’ presents some criticisms accompany by these beautiful roles play by international trade to emerging market economies and useful recommendations were provided for these economies.

Keywords: Dumping, Emerging market economies, Global economic system and theories, International Trade, Investment

SHIFTING GLOBAL ECONOMIC PARADIGM (Published)

The 21st century was started with the dawn of a new economic puzzle of China’s fast economic growth. It has surprised the economists. The Chinese constant upward growth has shifted economic paradigm and the axis of growth appear to have been shifted from the western hemisphere to the eastern hemisphere. Some economists term it a 21st century miracle. The author has determined to test this miracle through empirical framework. Main research question of this study to explore the answer of the question why China is recording consistent rapid economic growth? Is this growth in the same way as other developed countries experienced in the past or is it a new phenomenon-a shift in global economic paradigm.The objective of this empirical analysis is to investigate into the causes of fast economic growth of China in the context whether this growth pattern is a normal phenomenon or an indicator of shifting global economic paradigm.Our study is spread over a period starting from 1980 to 2011 because of the introduction of economic reforms and massive economic growth. We have collected data from different sources such as China Bureau of National Statistics, IMF, World Bank and relevant research Journals and books. The selected variables for this research paper are: labour productivity, investment, exports, Research and Development expenses, capital stock, open door policy, real exchange rate and US GDP. We used ordinary least square (OLS) model to measure change in the selected variables. Five tests were used to test the stability of the model. The Econometric results show that international trade and investment in capital stock and R&D expenses by Chinese Government are the major determinants, which are responsible for enhancing labour productivity and output in the long-run, Similarly, real exchange rate appears as an important determinant to explain change in output in the long-run

Keywords: China, Exports, Investment, Labour productivity, Open door policy, Output, R&D

FOREIGN PRIVATE INVESTMENT AND ECONOMIC GROWTH IN NIGERIA (1980 – 2010) (Published)

The study examined the impact of foreign private investment on Nigeria economic growth between 1980 and 2010. The empirical analysis was based on multiple regression technique. Economic growth was proxied by Gross Domestic Product and the result showed that foreign private investment, gross fixed capital formation and net export are positively related with economic growth while inflation rate has a negative relationship with economic growth. Hence increased inflow of foreign private investment into the country enhances economic growth in Nigeria. It is recommended that government should therefore strive to provide a conducive environment for foreign private investment in Nigeria through appropriate fiscal, monetary and general economic policies and stable macroeconomic environment.

Keywords: Foreign Private Investment and Inflation rate, Investment, economic growth

Returns from Investment in Technical and Professional Education with Reference to J.N.V. University, Jodhpur (Rajasthan) India (Published)

Angus Maddison (Former Member of OECD) in his article “What is Education For” published in Lloyds Bank Review describes the major purpose of education as to provide opportunities for self-fulfilment and personal development – a more complex process with humans than with animals because of the vast stock of knowledge we have accumulated. Access to this heritage is a basic human right which should yield satisfaction throughout life. “Education is designed to produce existing knowledge in new minds and to make these minds more receptive and more capable of absorbing, transforming, creating and using knowledge, Research and Development, meanwhile, is designed to produce new knowledge. This crucial segment of the knowledge industry sustains a two-way link between successful investment, which permits the faster growth of GNP, and GNP growth, which permits more investment in knowledge production” (Burke, Willam 1966). That education adds to the productivity and earning power of the individual and can raise a nation’s level of GNP has long been recognised. However, implications of treating investment in human capital, analogues to that in physical capital is the story of past fifty years. The basis of the argument is the empirical evidences. According to Brookings institutions’ Edward Denison, knowledge investment accounted for about 40 per cent of the 2.9 per cent annual rate of growth in the 1929-1957 period. Denison further estimates that the education of the labour force was responsible for 23 per cent of the growth in real national income in that period. The calculus of cost and benefits from investment in education of thirsty countries have shown education to have been a worthwhile investment and results have shown that further expansion of educational facilities is warranted in most countries, except at postgraduate level (Psacharopoulos , 1973). The ‘Chicago School’ of economists has been the first in developing a theory of human capital. These economists estimated the variations in earnings by education-standard as a measure of its economic benefit and they have used earnings and costs of education to calculate private and social rates of return from investment in education.

Keywords: : Human Capital, Investment, Private and Social Returns, Returns