Tag Archives: openness

Real Effective Exchange Volatility and Fdi Sustainability: Implications for the Nigerian Economy (Published)

The paper investigates the empirical evidence of Real Effective Exchange Rate Volatility and FDI inflow into Nigeria. The vital role of FDI in bridging the development gap and the impediment caused by the volatility in the Real Effective Exchange Rate have been attested to by various literature There has been no consensus by studies in this issue as regards whether Real Effective Exchange Rate volatility has a negative or positive effect on the FDI. In addition, the investigation of such relationship has been grossly ignored in the Nigerian literature The main objective is thus to empirically investigate the relationship between the volatility in the Real Effective Exchange Rate and the level of FDI in Nigeria. The study covered the period between 1981 and 2016. The Ordinary Least Squares technique was used in analyzing the data. Specifically, the ECM and the cointegration models were adopted. The results indicate that the one period lagged FDI has a significant and positive impact on the current FDI. The REER has an insignificant and positive impact on the FDI. The REERV has a significant and negative impact on the FDI. The result indicates further that the REERV has a negative and significant impact on the FDI. Openness of the economy o has a positive and significant impact on the REER The paper recommends a production based devaluation of the Nigerian REER.     

Keywords: Error Correction Mechanism, Foreign Direct Investment, Real Effective Exchange Rate, Real Effective Exchange Rate volatility, openness

Economic Integration, Incentives and Non-Oil Export Dynamics in Nigeria: An Empirical Evidence (Published)

This study is a response to the under-performing trend in the non-oil sector of Nigeria which is supposedly a catalyst for massive industrialization and rapid development concerns in a less developed country such as Nigeria. Arguments bordering on the perceived plausibility of trade liberalization and government incentives vis-à-vis non-oil export performance were empirically tested using contemporary econometric techniques of unit root test, co-integration test and error-correction mechanism. Results from the tests conducted revealed a one year positive lag relationship between variables such as foreign private investment, exchange rate, gross domestic product and non-oil export growth. Contrary to theoretical expectation, an inverse relationship was found to exist between a one year lag in agricultural credit guarantee scheme fund and non-oil export performance while, world gross domestic product exerted no significant relationship with non-oil export growth in Nigeria. However, the error correction model revealed a slow speed of dynamic adjustment from short-run to long-run equilibrium and as such, the study recommended among others, a re-examination of the agricultural credit guarantee scheme fund to ensure a positive contribution to non-oil sector development, increasing incentives that stimulate non-oil investment and also maintaining a favourable exchange rate. These policies, if implemented, will assist in unlocking the existing potentials in the Nigerian non-oil sector.

Keywords: Incentives, Non-Oil Exports, economic growth, openness

Predictors of Organizational Resilience: A Path Analysis (Published)

This study examines the relationship between organizational resilience and the following predictors: openness, trust, authenticity, and proaction. The predictors were derived from Flach’s (1988), Weick’s (1993), and Malak’s (1998) sources of organizational resilience. The rationale for this study is based on the overwhelming support from the literature that organizations must become resilient if they hope to survive environmental turbulence (see Doe, 1994; Horne, 1997; Lengnick-Hall & Beck, 2009; Kerr, 2016; Livingstone, 2016). To achieve the objectives of the study, data was collected from employees of higher education institutions in the Philippines. Of the 779 instruments distributed, only 267 instruments were used due to incomplete instruments, outliers, normality, and other considerations. A path analysis was used to deduce whether the hypothetical model developed from the literature represents the reality. The results suggest that openness, trust, authenticity, and proaction explain 47% of the variation in organizational resilience. Further, evidence also suggest that proaction has the highest effect on organizational resilience although it was highly influenced by trust. Finally, a predictive model (structural equation model) which was different from the hypothesized model was achieved in terms of model fit and significant relationships. A major contribution of this study is the pinpointing of the substance of organizational resilience—that reservoir of vulnerability that is grown by an organization through trust—rather than defining it by what organizations are able to do because it has resilience—bouncing back from or absorbing adverse consequences. This paper discusses the results of the study, the implications for managers, and the recommendations for further research

Keywords: Authenticity, Organizational Resilience, Path Analysis, Proaction, Trust, openness

ROLE OF MENTORING IN BUSINESS DEVELOPMENT IN NIGERIA (Published)

Recently, the death of business organisations in Nigeria is on the increase as business operates in an environment that is embedded with change, risk, high uncertainty, stiff competition, unethical business practices, unfavourable government policies and ignorance of the role of mentors in business development. Mentoring is rapidly becoming recognised worldwide as a highly effective human resource development process. Many organisations have gone through or are currently going through increasing significant change. Generally, people in any organisation react positively to change when they take responsibility for their own development. Mentoring is one way in which organisations can provide this assistance as there is a high degree of trust and mutual regard which will enable the person to become what he aspires to be by realising his or her potential. Mentoring has being identified as an important influence in business development. The major function of mentoring is to promote the mentee’s development in specific areas and to facilitate success in business activities. Mentoring relationship can produce positive development and organisational outcomes and it can sometimes fail due to a variety of causes and problems viz-a-viz lack of participation, absence of leadership involvement, poor planning, setting unrealistic expectation and fuzzy goals. The paper examines the roles of mentoring in business development. It focuses on the stages, forms, reasons, types, roles and characteristics of mentors, fundamental objectives, benefits and keys to mentoring success with a view to accelerate business development through investment in human capital development particularly through mentoring. The paper opines that mentorship and business development offers a wide range of benefits such as welfare, satisfaction, development, progress, feeling rejuvenated in career development, learning how to use new technologies, becoming aware of business issues, methods, strategies or perspectives that are vital to business. Content analysis was used in the writing of this paper. Evidence from the paper on the policies that need to be adopted to improve Nigeria’s business environment includes, the need to address those issues constraining business development. The paper also recommends that mentoring should be based upon encouragement, frank advise, readiness to assist the mentee to acquire needed knowledge, skills and competencies so as to operate functionally in our ever changing business environment, constructive comments, openness, mutual trust, respect, willingness to learn and share ideas and experiences, improve self confidence, job competitiveness and enhanced diversity of the workforce. Moreover, there is need to eliminate negative factors that militate against business growth and development with a view to increase business efficiency. There is the need, therefore for a re-orientation of our businesses because mentoring relationships depends on the people and the character of the organisation concerned. The paper concludes that successful mentoring programs as aid to business development requires proper understanding, planning, implementation and evaluation.

Keywords: Business Development, Career Development, Human Capital Development, Mentoring, Re-orientation, openness

THE CONTRIBUTORY EFFECTS OF SOCIO-CULTURAL FACTORS ON E-GOVERNMENT ADOPTION AMONG NIGERIANS (Published)

The aim of this study was to examine the extent to which socio-cultural factors, specifically, age, gender, and ethnic background influence the adoption of e-government services by Nigerians. Three aspects of the program (e-government) were identified viz. openness, perceived ease of use and perceived usefulness.The methodology of this research is quantitative research based on a survey method using questionnaire as a data collection technique. The findings showed that age, gender and ethnic background all affect the satisfaction and adoption of e-government in Nigeria. It is believed that policy makers will find it helpful if they knew citizens’ perceptions toward e-government services.

Keywords: E-government, ease of use, openness, usefulness and adoption.