The current financial environment is characterized by frequent innovations and complex financial products and services and this poses particular challenges for agribusiness entrepreneurs in rural areas. This study examined the sources of financial information available to agribusiness entrepreneurs in rural areas and how financial information literacy impacts performance sustainability and strategic decision-making effectiveness among agribusiness entrepreneurs amid complex and frequent innovations in financial environments in Nigeria. Utilizing a probability sampling approach, 397 respondents were drawn from the pool of agribusiness entrepreneurs registered with the Edo State Agricultural Development Programme for the Central Bank of Nigeria Anchored Borrower’s Programme (ABP) for farming businesses. The hypotheses were tested using linear regression analysis. The results from the demographic analysis suggest that agribusiness entrepreneurs have the highest access to radio adverts/programs on financial matters while television adverts/programs exert the highest persuasive influence on these agribusiness entrepreneurs. The outcomes from this analysis indicate that financial information literacy significantly impacts agribusiness performance sustainability among entrepreneurs. In addition, the proposed link between financial information literacy and strategic decision-making effectiveness among agribusiness entrepreneurs was confirmed. It is concluded that financial information literacy is needed for strategic decision-making effectiveness and performance sustainability among agribusiness entrepreneurs, particularly in rural areas, amid frequent innovative financial products and services.
25 April 2022 in International Journal of Manpower
Purpose: The purpose of this research is to investigate how bridging and bonding social capital relate to career success among career women in a patriarchal African society. Further, the intervening role of self-esteem in the association between social capital and career success was examined.Design/methodology/approach: Structured questionnaire was used to collect data from 488 Nigerian career women in management cadres in both private and public sectors. Partial least squares structural equation modeling was applied in testing the proposed hypotheses.Findings: The outcomes show that bridging social capital has a significant positive relationship with subjective and objective career success. Conversely, bonding social capital has no significant positive relationship with subjective and objective career success. Further analyses show that self-esteem only partially mediates the association between bridging social capital and career success while an insignificant intervening effect of self-esteem on the association between bonding social capital and career success was found.Practical implications: The findings suggest the need for organisations to stimulate a friendly work environment that has a zero-tolerance culture for workplace discrimination against women. This will enable the women to relate with people in the workplace irrespective of gender or cadre to generate more bridging social capital to achieve greater career success.Originality/value: The study extends social capital and career success research to career women in a patriarchal African context as a response to the call for context-specific career research in non-western countries particularly Africa. Second, the study provides empirical evidence that African career woman with bridging social capital can achieve career success irrespective of their self-esteem level amid patriarchal discrimination.
The complex nature of formal financial products and services and the frequently associated innovations occasioned by disruptive technologies inform researchers’ calls for studies on financial literacy, particularly in African rural communities. As a response to the calls, this study explores how financial literacy relates to performance, access to credit facilities, and payment preferences among smallholder rural farmers in Nigeria. Further, the rural farmers’ financial literacy level on each of the four dimensions of the Standard and Poor Global Financial Literacy criteria was assessed. A random sample was drawn from the registered rural farmers in the Central Bank of Nigeria’s Anchored Borrower’s Program for the 2022 farming year. Quantitative data were collected from rural farmers using the Standard and Poor Global Financial Literacy questionnaire. The proposed hypotheses were tested with partial least squares structural equation modeling (PLS-SEM), while descriptive statistics were used to analyze the data. The outcomes show that financial literacy significantly predicts performance, access to credit facilities, and mode of payment preferences among smallholder rural farmers. Also, the analyses of the four dimensions of financial literacy show that the farmers are more literate in risk diversification and inflation than numeracy and compound interest. It is concluded that financial literacy is cardinal to profitable investments in rural farming, and as such, there is a need for the Nigerian government and financial authorities to embark on financial literacy drive with more emphasis on numeracy and compound interest where the rural farmers are more deficient.
14 July 2021 in Journal of Financial Services Marketing
The ever-increasing organizations’ quest for multinational investments despite cross-border tensions and cultural diversity in the international business environment necessitates acculturation research. This research aims to determine the nature of acculturation strategies adopted among local workers in UK and US MNCs’ subsidiaries in Nigeria and how the acculturation strategies relate to internal legitimacy and job satisfaction among the workers. Utilizing a quantitative research design, the study uses a structured questionnaire to draw data from 454 Nigerians working in UK and US multinational corporations’ subsidiaries in Nigeria. The research finds that Nigerian workers in UK and US MNCs’ subsidiaries in Nigeria predominantly adopt the integrated acculturation strategy. The study further finds that the integration strategy significantly results in internal legitimacy and job satisfaction among the local workers. Contrary to expectations, assimilation, separation, and marginalization acculturation strategies insignificantly relate to internal legitimacy and job satisfaction. We highlighted the acculturation strategy the UK and US MNC subsidiaries in Nigeria can use to achieve internal legitimacy and job satisfaction among local employees.
The purpose of this research is to explore how patriarchal dominance relates to employment anxiety and subjective career success among career women, with a