Tag Archives: value creation

Service Design for Policymaking: Challenges for Delivering Value and Experience to Citizens (Published)

This theoretical paper aims to discuss and argue the design approach roles and challenges in the public sector to deliver value and experiences of public services to citizens. This technique seeks to approach government and civil servants, who design and plan public policies, to the citizens who receive them in services. Service design encourages governments to shift from ‘designing from the inside out’ to ‘designing from the outside in’. The service design approach tries to balance the desired changes of a government with the desires of the citizens to achieve two goals: (i) decreasing inconsistency of services; and (ii) increasing results in terms of service value and experience for citizens. However, for deploying an agile methodology as service design, governments and civil servants must overcome bureaucratic processes, regulations and lack of skills in innovation practices to reach the citizens’ needs.

Keywords: Experience, Government, Public Services, Service design, value creation

Cash Management and Performance of Listed Manufacturing Companies in Nigeria (Published)

Investors in the manufacturing companies expect that  managers entrusted with the responsibility of managing the operational activities of the companies are competent and optimally utilize the  resources, including the cash management to ensure quality returns to the equity holders. Studies have shown that most managers of the manufacturing companies are desirous of reporting robust and plausible performance reports, rather than ensuring effective and optimal cash management to avoid disruption of production process. Consequently, achieving these expectations of investors and ensuring good return on assets and impressing earnings per share, remain a major problem facing the managers. This study therefore investigated the impact of cash management on performance of listed manufacturing companies in Nigeria. The study adopted ex-post facto research design, using population of 47 listed manufacturing companies on the Nigerian Stock Exchange as at 31st December 2016. Fifteen companies were selected using a combination of stratified and purposive sampling technique. Data were extracted from published financial statements of the sampled manufacturing companies, the validity and reliability of the data were premised on the scrutiny of the external auditors. Descriptive statistics and inferential (Regression) statistics were used for data analysis. The result revealed that cash management had significant positive effect on performance on the following: Cash management had a positive and significant effect on Return on Asset with Adj R2=0.09, F- Stat(3.146) = 10.32, P-value= 0.032: Cash management had positive and significant effect on Tobins Q with Adj R2=0.16, F-Statistics (3.146) = 20.38 and P-value = 0.00, cash management with control variables had positive and significant effect on Return on Assets with Adj R2= 0.0137, F-stat (3.146) = 16.86 and P-value = 0.00. The result further revealed that cash management with control variable had positive and significant effect on Tobins Q with Adj R2-0.1086, F-Stat(3.146) = 23.26 and P-value of 0.00. The study concluded that, cash management has effect on performance of listed manufacturing companies in Nigeria. The study recommended that shareholders, managers, policy makers, financial regulators and market participants should pay more attention to quality of earnings, returns on equity and assets of the companies. Managers should aggressively engage in optimal cash conversion cycle, currents assets and liquidity management and their optimal utilization in achieving their short and long term goals and safely satisfy shareholders objective.

Keywords: Cash management, Manufacturing Companies, Performance, Shareholders Wealth, value creation

Financial Management of Micro, Small, and Medium Enterprises in Cebu, Philippines (Published)

The study attempts to examine the influence of entrepreneurship marketing on performance of SMEs in Nigeria. Specifically, the study addresses the following objectives: To examine the influence of entrepreneurial marketing on the growth of SMEs in Nigeria and to investigate the extent to which innovativeness, pro-activeness, opportunity-driven, resource leveraging, risk taking, customer intensity and value creation influence the growth of SMEs in Nigeria. This research adopted a descriptive survey design. All the data used for the study were elicited from the sampled respondents through the use of questionnaire. The study population consists of all the 345 registered SMEs in Delta state, Nigeria. Simple random sampling technique was used to select 120 SMEs which represents the sample size for the study. Multiple regressions were the statistical tool used to test the hypothesis proposed for the study. Data were coded and analyzed using the Statistical Packages for Social Sciences (SPSS version 20.0). The findings of the study show that entrepreneurship marketing is a driven force of economic growth and also helps to enhance the development of new product/service for existing markets. More so, the study reveals that the SMEs operators in Nigeria mostly use traditional form of marketing to reach potential customers and to entrench their brands. Interestingly, only few of them use modern marketing technology to promote their products and services. It was thus recommended that SMEs should take advantage of the emerging global technology to improve their overall performance.

Keywords: Entrepreneurial Marketing, Innovativeness, SMEs, pro-activeness, resource leverage, value creation

Entrepreneurship Marketing and Performance of SMES in Nigeria (Published)

The study attempts to examine the influence of entrepreneurship marketing on performance of SMEs in Nigeria. Specifically, the study addresses the following objectives: To examine the influence of entrepreneurial marketing on the growth of SMEs in Nigeria and to investigate the extent to which innovativeness, pro-activeness, opportunity-driven, resource leveraging, risk taking, customer intensity and value creation influence the growth of SMEs in Nigeria. This research adopted a descriptive survey design. All the data used for the study were elicited from the sampled respondents through the use of questionnaire. The study population consists of all the 345 registered SMEs in Delta state, Nigeria. Simple random sampling technique was used to select 120 SMEs which represents the sample size for the study. Multiple regressions were the statistical tool used to test the hypothesis proposed for the study. Data were coded and analyzed using the Statistical Packages for Social Sciences (SPSS version 20.0). The findings of the study show that entrepreneurship marketing is a driven force of economic growth and also helps to enhance the development of new product/service for existing markets. More so, the study reveals that the SMEs operators in Nigeria mostly use traditional form of marketing to reach potential customers and to entrench their brands. Interestingly, only few of them use modern marketing technology to promote their products and services. It was thus recommended that SMEs should take advantage of the emerging global technology to improve their overall performance.

 

Keywords: Entrepreneurial Marketing, Innovativeness, SMEs, pro-activeness, resource leverage, value creation

Evaluation of Integrated Reporting and the Value of Listed Manufacturing Firms in Nigeria (Published)

Integrated reporting is gaining attention of world-leading organizations and countries who are demonstrating global leadership in this emerging field of corporate reporting. However, the disclosure of non-financial information and its integration with financial information (integrated reports) and the benefits to the company and other stakeholders is not yet properly assessed in Nigeria. Prior studies in this area in different environments have produced mixed results and conclusions. This study examined the effect of integrated reporting on the value of listed manufacturing companies in Nigeria. The study adopted ex-post facto research design. The population of the study comprised 53 manufacturing companies quoted on the Nigerian Stock Exchange (NSE) as at 30th June 2017, from which 38 companies were purposively selected comprising companies from consumer goods and industrial goods during the study period (2012-2016). Data were sourced from the published audited financial statements validated by the external auditors’ report. Descriptive and inferential statistics using regression analyses were employed. The findings revealed that integrated reporting had significant effects on firm’s value measured by Tobin’s Q (TQ) (F(4, 131) = 22.75, Adj. R2 = .1470, p <0.05). Disclosure of Financial Capital (DFC) had a significant negative effect on TQ (β1 = -4.41; t(135)= -6.71, p <0.05); Disclosure of Manufactured Capital (DMC) had an insignificant positive effect on TQ (β2 = 0.051; t(135)= 0.14, p >0.05); Disclosure of Intellectual and Human Capital (DIHC) had an insignificant negative effect on TQ (β3 = -0.994; t(135)= -0.69, p >0.05); and Disclosure of Natural Capital (DNC) had an insignificant negative effect on TQ (β4 = -0.438; t(135)= -0.41, p >0.05). Firms’ size (SIZE) and leverage (FLEV) had significantly controlled the influence of integrated reporting on TQ (F(6,129) = 24.08, Adj. R2 = .1636, p <0.05). The study concluded that integrated reporting is still at its early stage of adoption in Nigeria and could be useful in determining the firm’s value of listed manufacturing companies in Nigeria. It was recommended that regulators should increase awareness, training and provide a framework for the mandatory adoption of integrated reporting in Nigeria.

 

Keywords: Disclosure, Leverage, Size, firm’s value, integrated reporting, integrated thinking, tobin’s q. transformation, value creation

Evaluation of Integrated Reporting and the Value of Listed Manufacturing Firms in Nigeria (Published)

Integrated reporting is gaining attention of world-leading organizations and countries who are demonstrating global leadership in this emerging field of corporate reporting. However, the disclosure of non-financial information and its integration with financial information (integrated reports) and the benefits to the company and other stakeholders is not yet properly assessed in Nigeria. Prior studies in this area in different environments have produced mixed results and conclusions. This study examined the effect of integrated reporting on the value of listed manufacturing companies in Nigeria. The study adopted ex-post facto research design. The population of the study comprised 53 manufacturing companies quoted on the Nigerian Stock Exchange (NSE) as at 30th June 2017, from which 38 companies were purposively selected comprising companies from consumer goods and industrial goods during the study period (2012-2016). Data were sourced from the published audited financial statements validated by the external auditors’ report. Descriptive and inferential statistics using regression analyses were employed. The findings revealed that integrated reporting had significant effects on firm’s value measured by Tobin’s Q (TQ) (F(4, 131) = 22.75, Adj. R2 = .1470, p <0.05). Disclosure of Financial Capital (DFC) had a significant negative effect on TQ (β1 = -4.41; t(135)= -6.71, p <0.05); Disclosure of Manufactured Capital (DMC) had an insignificant positive effect on TQ (β2 = 0.051; t(135)= 0.14, p >0.05); Disclosure of Intellectual and Human Capital (DIHC) had an insignificant negative effect on TQ (β3 = -0.994; t(135)= -0.69, p >0.05); and Disclosure of Natural Capital (DNC) had an insignificant negative effect on TQ (β4 = -0.438; t(135)= -0.41, p >0.05). Firms’ size (SIZE) and leverage (FLEV) had significantly controlled the influence of integrated reporting on TQ (F(6,129) = 24.08, Adj. R2 = .1636, p <0.05). The study concluded that integrated reporting is still at its early stage of adoption in Nigeria and could be useful in determining the firm’s value of listed manufacturing companies in Nigeria. It was recommended that regulators should increase awareness, training and provide a framework for the mandatory adoption of integrated reporting in Nigeria.

Keywords: Disclosure, Leverage, Size, firm’s value, integrated reporting, integrated thinking, tobin’s q. transformation, value creation