Journal Articles http://repository.fuoye.edu.ng:80/handle/123456789/80 2026-04-16T23:21:21Z 2026-04-16T23:21:21Z AGU, OSMOND CHIGOZIE OJIDE, MAKUACHUKWU GABRIEL EKE, FELIX AWARA http://repository.fuoye.edu.ng:80/handle/123456789/1213 2016-03-11T14:06:26Z 2016-02-01T00:00:00Z

Title: Foreign Direct Investment in Nigeria: Reassessing the Role of Market Size Authors: AGU, OSMOND CHIGOZIE; OJIDE, MAKUACHUKWU GABRIEL; EKE, FELIX AWARA Abstract: Abstract This paper examines the influence of market size on foreign direct investment to Nigeria for the period 1970 – 2011. It answers the question: do multinational enterprises consider market size in the allocation of their foreign direct investment (FDI) to Nigeria? Unlike similar previous studies on Nigeria, this paper examines market size in terms of economy size and population size. Autoregressive Distributed Lag (ARDL) model and Granger Causality Tests were estimated. The results show that economy size and population size has positive and significant effect on foreign direct investment to Nigeria. Market size also Granger causes FDI to Nigeria. This paper, therefore, concludes that multinational enterprises consider Nigerian market size in the allocation of their foreign direct investment (FDI) to the country.

2016-02-01T00:00:00Z AGU, OSMOND CHIGOZIE OKOLI, CHUKA BASIL http://repository.fuoye.edu.ng:80/handle/123456789/952 2015-08-20T11:21:55Z 2013-05-01T00:00:00Z

Title: Credit Management and Bad Debt In Nigeria Commercial Banks –Implication For development Authors: AGU, OSMOND CHIGOZIE; OKOLI, CHUKA BASIL Abstract: This paper examines the causes of bad and doubtful debt in Nigeria commercial banks. It presents a framework to x-ray the risk and to validate the checks and balances to prevent or rather reduce the risk. The study uses both primary and secondary tools for data collection to determine causes of bad debts. Analysis of Variance (ANOVA) and autoregressive model were applied to validate the result spanning the period 1993 to 2011. Lending is one of the major functions of banks though the most risky. Yet any bank that wants to remain in business must lend. Due to the fact that bank’s primary function is to act as intermediary between savers and borrowers, the barometer for measuring their earnings is interest from lending. Lending is a risk. Granting of credit is risk that can be viewed as the most important risk which Nigerian banks face bearing in mind the staggering size of their non-performing assets. Credit risk therefore is the risk which could occasion a loss for a bank due to a default by a customer in meeting its obligation. It is observed that incessant increase in interest rate is a strong and statistically important factor that causes bad debt in Nigeria commercial banks. Banks Management should establish sound lending policies, adequate credit administration procedure and an effective and efficient machinery to monitor lending function with established guidelines, reduce interest rates on lending. They should study the character and financial statement of the borrower before granting them loans.

2013-05-01T00:00:00Z AGU, OSMOND CHIGOZIE OGBUAGU, MATTHEW IKECHUKWU http://repository.fuoye.edu.ng:80/handle/123456789/951 2015-08-20T11:09:09Z 2015-02-01T00:00:00Z

Title: Lending Rate, Bad Debt and Credit Management in Nigeria Commercial Banks: A VAR Analysis Authors: AGU, OSMOND CHIGOZIE; OGBUAGU, MATTHEW IKECHUKWU Abstract: This paper examines the causes of bad and doubtful debt in Nigeria commercial banks. It presents a framework to x-ray the risk and to validate the checks and balances to prevent or rather reduce the risk. The study uses both primary and secondary tools for data collection to determine causes of bad debts. Analysis of Variance (ANOVA) and Vector Autoregressive (VAR) model were applied to validate the result spanning the period 1993(Quarter 1) to 2011(Quarter 4). The Impulse response shows that incessant increase in interest rate is a strong and statistically important factor that causes bad debt in Nigeria commercial banks. Bank`s Management should establish sound lending policies, adequate credit administration procedure, effective and efficient machinery to monitor lending function with established guidelines, reduce interest rates on lending etc.

2015-02-01T00:00:00Z AGU, OSMOND CHIGOZIE OKOLI, TOCHUKWU TIMOTHY http://repository.fuoye.edu.ng:80/handle/123456789/950 2015-08-20T10:54:25Z 2013-09-01T00:00:00Z

Title: Democracy, social protection and cost of governance in Nigeria Authors: AGU, OSMOND CHIGOZIE; OKOLI, TOCHUKWU TIMOTHY Abstract: The paper aims at assessing the cost of governance and social protection in Nigeria. The methodology adopted by the paper involves the use of quantitative data for 9 years, from 2002 to 2010, which was generated from the annual report and accounts of the Central Bank of Nigeria. The data generated for the study was analyzed using graphs and simple percentage analysis. The finding of the paper shows that Cost of governance in Nigeria has greatly increased due to unnecessary increase in the number of government agencies, high number of Commissioners, Special Advisers, Special Assistants and Personal Assistants, jumbo pay of political office holders, payroll fraud as a result of ghost workers, high number of official vehicles irrespective of the monetization policy of the government, incessant foreign trips, existence of security vote and extra-budgetary expenditure. It was identified that only 7.5% of the sum was put to poverty alleviation (Social protection). Thus, questioning the cost minimization strategies and revenue assurance mechanisms in the States. Similarly, the trend of Extra-Budgetary Expenditure put to question the implementation of budgets at the States. The paper concludes that the task of reducing cost of governance does not rest on the executive, legislature and judiciary alone. It is a task demanding the collective effort of all stakeholders. Finally, the paper recommends that there is the need to reduce recurrent expenditure to sustainable level through reducing waste, inefficiency, corruption and duplication in government, as well as, make capital spending more effective and ensure even redistribution of wealth..

2013-09-01T00:00:00Z AGU, OSMOND CHIGOZIE http://repository.fuoye.edu.ng:80/handle/123456789/949 2015-08-20T10:48:26Z 2015-04-01T00:00:00Z

Title: Of Private Investment In Nigeria (An Econometric Analysis) Authors: AGU, OSMOND CHIGOZIE Abstract: This paper discusses the determinants of private investment in Nigeria from 1970 – 2012. It x- rays the trend in Nigerian investment behaviour and reviews policy options to increase Private domestic investment. The structure for analysis involves the estimation of an investment rate function derived from the Life Cycle Hypothesis while taking into account the structural distinctiveness of a developing economy. The study employs the Error-Correction modeling procedure which minimizes the likelihood of estimating spurious relations, while at the same time retaining long-run information. The results of the analysis show that the investment rate is positively correlated with both the growth rate of disposable income and the real interest rate on bank deposits. We discovered that investment has been slowed down in Nigeria as a result of increased lending rate, reduced public expenditure, reduced savings, political instability and inadequate infrastructure. We recommend among others things that the focus of development policy in Nigeria should be to increase the productive base of the economy in order to promote real income growth and reduce unemployment. For this to be achieved, a diversification of the country’s resource base is indispensable.

2015-04-01T00:00:00Z AGU, OSMOND CHIGOZIE OKOLI, TOCHUKWU TIMOTHY http://repository.fuoye.edu.ng:80/handle/123456789/948 2015-08-20T10:33:05Z 2015-07-01T00:00:00Z

Title: FOREIGN DIRECT INVESTMENT FLOW AND MANUFACTURING SECTOR PERFORMANCE IN NIGERIA Authors: AGU, OSMOND CHIGOZIE; OKOLI, TOCHUKWU TIMOTHY Abstract: This study assesses the impact of foreign direct investment flow on the performance of the manufacturing firms in Nigeria. Using manufacturing value added (MVA) for the performance of manufacturing firms, time series data was compiled from World Bank and Central Bank of Nigeria Statistical Bulletin spanning for a period of 40 years. The researcher used an OLS estimate with FDI modeled as a quadratic function to account for its turning point and the VECM to ascertain both the long run and the short run causalities running from the explanatory variables to dependent variable. The results obtained suggest the need for Government actions to be geared towards strategically maintaining and sustaining policies that will help encourage FDI inflows especially in the long run since a positive effect on the manufacturing value added was only feasible in the long run as well as promoting an efficient and enabling macroeconomic environment on which manufacturing firms can thrive. Also the need to embark on domestic investment as well as improve human capital skill was buttressed.

2015-07-01T00:00:00Z AGU, OSMOND CHIGOZIE MBAH, STELLA ADA http://repository.fuoye.edu.ng:80/handle/123456789/947 2015-08-20T10:18:50Z 2013-05-01T00:00:00Z

Title: The Effectiveness of Government Employment Policies in Nigeria Authors: AGU, OSMOND CHIGOZIE; MBAH, STELLA ADA Abstract: Rising unemployment accompanied by social vices among young people is threatening the very foundation of Nigeria as a nation. Successive governments in Nigeria had adopted various policies to create jobs and reduce unemployment. In spite of these various Federal Government employment policies of successive governments in Nigeria, unemployment rare has continued to rise unabated. This has informed the need to embark on the present study with a view to determining the extent to which various employment generation programmes of the government had proved effective for achieving full employment in Nigeria, The design was essentially a descriptive survey. Data were sourced from the National Bureau of Statistics, Abuja and Central Bank of Nigeria, Abuja. Data were analyzed using times series components of trend, seasonal variation and random factors. Coefficient of determination was also used for the analysis. The study shows that employment policies of successive governments were not yet adapted to achieving full employment. Based on the findings, recommendations were made for an increased labour-promoting employment generation strategy to create more jobs that will help to reduce the high current open unemployment in Nigeria.

2013-05-01T00:00:00Z AGU, OSMOND CHIGOZIE Okoli, Basil Chuka http://repository.fuoye.edu.ng:80/handle/123456789/946 2016-02-02T10:46:19Z 2013-05-01T00:00:00Z

Title: Credit Management and Bad Debt In Nigeria Commercial Banks –Implication For development Authors: AGU, OSMOND CHIGOZIE; Okoli, Basil Chuka Abstract: This paper examines the causes of bad and doubtful debt in Nigeria commercial banks. It presents a framework to x-ray the risk and to validate the checks and balances to prevent or rather reduce the risk. The study uses both primary and secondary tools for data collection to determine causes of bad debts. Analysis of Variance (ANOVA) and autoregressive model were applied to validate the result spanning the period 1993 to 2011. Lending is one of the major functions of banks though the most risky. Yet any bank that wants to remain in business must lend. Due to the fact that bank’s primary function is to act as intermediary between savers and borrowers, the barometer for measuring their earnings is interest from lending. Lending is a risk. Granting of credit is risk that can be viewed as the most important risk which Nigerian banks face bearing in mind the staggering size of their non-performing assets. Credit risk therefore is the risk which could occasion a loss for a bank due to a default by a customer in meeting its obligation. It is observed that incessant increase in interest rate is a strong and statistically important factor that causes bad debt in Nigeria commercial banks. Banks Management should establish sound lending policies, adequate credit administration procedure and an effective and efficient machinery to monitor lending function with established guidelines, reduce interest rates on lending. They should study the character and financial statement of the borrower before granting them loans.

2013-05-01T00:00:00Z AGU, OSMOND CHIGOZIE MBAH, STELLA ADA http://repository.fuoye.edu.ng:80/handle/123456789/941 2015-08-19T13:41:46Z 2013-06-01T00:00:00Z

Title: African Firms Manufacturing and Economic development: Is Africa Effectively Competing in Manufacturing in the World Market? Authors: AGU, OSMOND CHIGOZIE; MBAH, STELLA ADA Abstract: Abstract: This paper examines the status of industrial development in Africa with a focus on the identification of stylized facts associated with African manufacturing. It also provides an analysis of past attempts at promoting industrial development in the region and the lessons learned from these experiences. Panel data (combination of Cross sectional and Time series analysis) is applied on the data obtained by UNIDO from developing countries spanning from 1980-2010. After gaining political independence, which occurred mainly in the 1960s, most African countries started to promote industrialization. The emphasis on industrialization was based on the political conviction by African leaders that it was necessary to ensure self-reliance and reduce dependence on advanced countries. Furthermore, there was the expectation that industrialization would hasten the transformation of African countries from agricultural to modern economies, create employment opportunities, raise incomes as well as living standards, and reduce vulnerability to terms of trade shocks resulting from dependence on primary commodity exports. But during the 1970s, with successive oil shocks and an emerging debt problem, it started to become clear that import substitution industrialization was not sustainable. With the introduction of structural adjustment programmes in the 1980s, African countries curtailed specific policy efforts to promote industrialization and focused on removing anti-export biases and furthering specialization according to comparative advantage. It was expected that competitive pressures would revitalize economic activity by leading to the survival of the fittest. But whilst these policies were certainly intended to have structural effects, the conventional view is that they did not boost industrialization in the region. Efforts to promote industrial development in Africa should be centered on (a) promoting scientific and technological innovation, (b) creating linkages in the domestic economy, (c) fostering entrepreneurship, (d) improving government capabilities, (e)adopting appropriate monetary and fiscal policies.

2013-06-01T00:00:00Z Margaret Lindorff, Elizabeth Prior Jonson Linda McGuire http://repository.fuoye.edu.ng:80/handle/123456789/141 2016-01-15T13:32:09Z 2012-09-25T00:00:00Z

Title: Strategic Corporate Social Responsibility in Controversial Industry Sectors: The Social Value of Harm Minimisation Authors: Margaret Lindorff, Elizabeth Prior Jonson; Linda McGuire Abstract: This paper examines how it is possible for firms in controversial sectors, which are often marked by social taboos and moral debates, to act in socially responsible ways, and whether a firm can be socially responsible if it produces products harmful to society or individuals. It contends that a utilitarian justification can be used to sup- port the legal and regulated provision of goods and services in these areas, and the regulated and legal provision of these areas produces less harm than the real alternative— illegal and unregulated supply. Utilitarianism is concerned as much with harm minimisation as good maximisation, and both are equally important when it comes to maxi- mising welfare (Bentham 1789, 1970; Mill [1863] 1964). Any adequate theory of CSR must, therefore, have the capacity to handle a business that minimises harm as well as those that more straightforwardly maximise good. In this paper we therefore attempt two tasks. First, we argue that the legal but regulated provision of products and services may be better from an overall utilitarian perspective than a situation in which these harmful or immoral goods and services are illegal but procurable via a black market. Porter and Kramer’s (2006) strategic CSR framework is then presented to describe how firms in these controversial sectors can act in socially responsible ways. This model highlights the importance of firm strategy in selecting areas of socially responsible behaviours that can be acted upon by firms in each industry. Description: This paper examines how it is possible for firms in controversial sectors, which are often marked by social taboos and moral debates, to act in socially responsible ways, and whether a firm can be socially responsible if it produces products harmful to society or individuals. It contends that a utilitarian justification can be used to sup- port the legal and regulated provision of goods and services in these areas, and the regulated and legal provision of these areas produces less harm than the real alternative— illegal and unregulated supply. Utilitarianism is concerned as much with harm minimisation as good maximisation, and both are equally important when it comes to maxi- mising welfare (Bentham 1789, 1970; Mill [1863] 1964). Any adequate theory of CSR must, therefore, have the capacity to handle a business that minimises harm as well as those that more straightforwardly maximise good. In this paper we therefore attempt two tasks. First, we argue that the legal but regulated provision of products and services may be better from an overall utilitarian perspective than a situation in which these harmful or immoral goods and services are illegal but procurable via a black market. Porter and Kramer’s (2006) strategic CSR framework is then presented to describe how firms in these controversial sectors can act in socially responsible ways. This model highlights the importance of firm strategy in selecting areas of socially responsible behaviours that can be acted upon by firms in each industry.

2012-09-25T00:00:00Z R. H. Berry, F. Yeung http://repository.fuoye.edu.ng:80/handle/123456789/140 2016-01-15T13:33:29Z 2012-10-18T00:00:00Z

Title: Are Investors Willing to Sacrifice Cash for Morality? Authors: R. H. Berry, F. Yeung Abstract: The paper uses questionnaire responses pro- vided by a sample of ethical investors to investigate will- ingness to sacrifice ethical considerations for financial reward. The paper examines the amount of financial reward necessary to cause an ethical investor to accept a switch from good ethical performance to poor ethical perfor- mance. Conjoint analysis is used to allow quantification of the utilities derived from different combinations of ethical and financial performance. Ethical investors are shown to vary in their willingness to sacrifice ethical for financial performance, and hence to display more heterogeneity than the all-encompassing ‘ethical’ label implies. Because of the existence of sub-groups of ethical investors with different attitudes towards financial reward, an attempt has been made to associate observable investors’ characteristics with their level of willingness to trade-off morality for cash. One sub-group of investors in particular appears highly resistant to the idea of accepting higher financial return as compensation for poor ethical performance. This unwill- ingness casts doubt on Jensen and Meckling’s widely reported claim that trade-off behaviour is ubiquitous in all areas of life. Description: The paper uses questionnaire responses pro- vided by a sample of ethical investors to investigate will- ingness to sacrifice ethical considerations for financial reward. The paper examines the amount of financial reward necessary to cause an ethical investor to accept a switch from good ethical performance to poor ethical perfor- mance. Conjoint analysis is used to allow quantification of the utilities derived from different combinations of ethical and financial performance. Ethical investors are shown to vary in their willingness to sacrifice ethical for financial performance, and hence to display more heterogeneity than the all-encompassing ‘ethical’ label implies. Because of the existence of sub-groups of ethical investors with different attitudes towards financial reward, an attempt has been made to associate observable investors’ characteristics with their level of willingness to trade-off morality for cash. One sub-group of investors in particular appears highly resistant to the idea of accepting higher financial return as compensation for poor ethical performance. This unwill- ingness casts doubt on Jensen and Meckling’s widely reported claim that trade-off behaviour is ubiquitous in all areas of life.

2012-10-18T00:00:00Z Robert G. Bednarik http://repository.fuoye.edu.ng:80/handle/123456789/138 2016-01-15T13:34:01Z 2011-09-02T00:00:00Z

Title: The Origins of Human Modernity Authors: Robert G. Bednarik Abstract: This paper addresses the development of the human species during a relatively short period in its evolutionary history, the last forty millennia of the Pleistocene. The hitherto dominant hypotheses of “modern” human origins, the replacement and various other “out of Africa” models, have recently been refuted by the findings of several disciplines, and by a more comprehensive review of the archaeological evidence. The complexity of the subject is reconsidered in the light of several relevant frames of reference, such as those provided by niche construction and gene-culture co-evolutionary theories, and particularly by the domestication hypothesis. The current cultural, genetic and paleoanthropological evidence is reviewed, as well as other germane factors, such as the role of neurodegenerative pathologies, the neotenization of humans in their most recent evolutionary history, and the question of cultural selection-based self-domestication. This comprehensive reassessment leads to a paradigmatic shift in the way recent human evolution needs to be viewed. This article explains fully how humans became what they are today. Description: This paper addresses the development of the human species during a relatively short period in its evolutionary history, the last forty millennia of the Pleistocene. The hitherto dominant hypotheses of “modern” human origins, the replacement and various other “out of Africa” models, have recently been refuted by the findings of several disciplines, and by a more comprehensive review of the archaeological evidence. The complexity of the subject is reconsidered in the light of several relevant frames of reference, such as those provided by niche construction and gene-culture co-evolutionary theories, and particularly by the domestication hypothesis. The current cultural, genetic and paleoanthropological evidence is reviewed, as well as other germane factors, such as the role of neurodegenerative pathologies, the neotenization of humans in their most recent evolutionary history, and the question of cultural selection-based self-domestication. This comprehensive reassessment leads to a paradigmatic shift in the way recent human evolution needs to be viewed. This article explains fully how humans became what they are today.

2011-09-02T00:00:00Z Ylva Hasselberg http://repository.fuoye.edu.ng:80/handle/123456789/133 2016-01-15T13:34:28Z 2012-01-27T00:00:00Z

Title: Demand or discretion? The market model applied to science and its core values and institutions Authors: Ylva Hasselberg Abstract: This paper addresses the hypothetical consequences of applying the rationality of the market model to the core activities of science, viz. reading, writing texts, and posing and answering scientific questions. What would happen to science and to our ideas and norms regarding science if we ascribed to the individual scientist the rationality of ‘economic man’? The starting point is a discussion of scientific norms and driving forces in the sociology of science. A central conclusion is that science has until now been perceived as being judgment driven, and that scientific judgment historically has been formed in a setting where intersubjectivity has been central. This analysis bridges the gap between classical Mertonian sociology of science and science and technology studies. What then happens to discretionary decision making if we introduce economic rationality into science? Economics tends to treat science from a Mertonian viewpoint, presuppos- ing a value-based rationality, and when economic rationality (the supply/demand mechanism) is introduced, these values are not affected. However, the conclusion of this article is that this would indeed deeply affect scientific rationality. Discretionary decision making would be downplayed, as focus would shift from the text as a means of communicating the result, to the text as a commod- ity in a market of publication. This would disembed the credibility cycle, and it would alter the character of scientific work and undermine intersubjectivity. Consumption would be disembed- ded from the context of use and from the norms regarding the use of texts and their value. The knowledge base necessary for intersubjectivity would decrease.

2012-01-27T00:00:00Z David A. Morand, Kimberly K. Merriman http://repository.fuoye.edu.ng:80/handle/123456789/96 2016-01-15T13:34:58Z 2012-08-16T00:00:00Z

Title: ‘‘Equality Theory’’ as a Counterbalance to Equity Theory in Human Resource Management Authors: David A. Morand, Kimberly K. Merriman Abstract: This conceptual paper revisits the concept of equality as a base of distributive justice and contends that it is underspecified, both theoretically and in terms of its ethical and pragmatic application to human resource management (HRM) within organizations. Prior organizational literature focuses primarily upon distributive equality of remunerative outcomes within small groups and implicitly employs an equity-based conception of inputs to define equality. In contrast, through exposition of the philosophical roots of equality principles, we reconceptualize inputs as de facto equal and consider the systemic application of distributive equality in the form of status leveling practices. Ethical ramifications of distributive equality so viewed are explored. We conclude by arguing that, to implicitly insert a stronger ethics focus into the study and practice of HRM, perhaps there should be ‘‘equality theory’’ competing with equity theory for recognition in managerial and scholarly discourse.

2012-08-16T00:00:00Z