The study empirically examined entrepreneurship orientation, entrepreneurship culture and performance of small and medium-scale enterprises in Calabar Metropolis. The major objective of the paper was to explore how strategic entrepreneurship practices affect the accomplishment of SMEs goals in Cross River State. The study was anchored on Resource-based theory (RBT). The study used survey research design. Survey research design was employed, and a population of one thousand, two hundred and ninety-four (1294) employees were involved. The study utilized Taro Yamane formula to determine the sample size of 400 employees. The sampling technique used in this study was purposive sampling method. The paper used multiple linear regression technique in testing the two hypotheses. The study revealed a positive relationship between entrepreneurial orientation and growth of SMEs. Furthermore, it was found that entrepreneurial culture has a negative effect on profitability of SMEs. Also, it was found that strategic resource management has significant effect on the quality of products of SMEs. The researcher supported various findings with suggestions among other things that the managers should continuously incorporate new decision-making strategies, procedures and behaviour that will put the organization into an advantageous position into entering new or established markets with new or existing goods or services. It was also recommended among others that entrepreneurial culture should be strengthened by managers of SMEs in Cross River State in pursuit of firm’s performance as well as yielding to the economic growth of Nigeria.

This study aimed at evaluating enterprise risk management practice by Deposit Money Banks in Nigeria. Evolving from the research were three specific objectives which were reconstructed into research hypotheses. The hypotheses investigated the relationship between objections and challenges faced by Nigerian banks, government policy, risk and acceptance of enterprise risk management by Nigerian banks. The study utilized an Ex-Post Facto design. A sample of 374 respondents extracted across six geopolitical zones in Nigeria responded to a re-validated 5 points Likert Scale questionnaire. Data extracted from the collection was evaluated using ordinary least square OLS regression analysis. The study revealed that various challenges of practicing banks significantly influences the level of acceptance and implementation of ERM in Nigeria, the government policies on ERM has a direct and significant relationship on the practice of ERM by players in the industry and that the practice of ERM has positively influenced the performance of the Nigerian banks that have accepted and implemented ERM. The study recommended that apex institution should devise a strategic plan and framework to help banks in the implementation of enterprise risk management since it has been adjudged to be the industry best practice in line with Basel III accord.

Interest Rate Policy and the Growth of the Nigerian Economy (1990-2016)

Purpose: The purpose of this study is to determine how the practices of corporate social responsibility (CSR) influence the wealth of shareholders of industrial goods producing companies listed on the Exchange Group Plc of Nigeria and other developing countries. Theoretical Framework: The role played by CSR practices in enhancing shareholders’ wealth has attracted the interests of companies’ executives and policy makers all over the world. The theoretical foundations of this research work are provided by the Shareholder Value Theory, the stakeholder theory, the Business Ethics theory and the Agency theory. However, this work is anchored on the shareholder value theory propounded by Milton Friedman in 1970 and this is used to evaluate the influence of corporate social responsibility on shareholders’ wealth. Design/methodology/approach: The study uses the ex-post facto research design and judgemental sampling technique to select a sample of 10 industrial goods producing firms listed on the Nigerian Exchange Group Plc as at 31st December, 2021. Social responsibility relationships with the society, employees, suppliers, customers, tax authorities and lenders provide the basis for sample selection. Information from the financial statements of the sampled companies was used to compute weighted average cost of capital (WACC), rate of stock turnover, actual corporate tax rate, invested capital, leverage, return on equity (ROE), value of debts and value of equity. This approach facilitates the computation of economic value added (EVA) which is used as proxy for shareholders’ wealth. Firm-year observations of 1,840, ordinary least squares panel data regression, fixed and random effects models, stationarity test, cross-section dependence test and the Hausman test are used for data diagnosis and analysis. Findings: The research has disclosed that CSR to society positively and significantly influences shareholders’ wealth while CSR to suppliers and lenders have non-significant positive effect on shareholders’ wealth. Contrastingly, it is further revealed that CSR to employees and tax authorities have significant negative effects on shareholders’ wealth while CSR to customers negatively and non-significantly influences shareholders’ wealth. Research, Practical & Social implications: The implication for managers is that CSR relationship with society is value enhancing in Nigeria’s industrial goods sector while CSR relationships with employees and tax authorities are value destroying. Value enhancing results of the dealings with suppliers and lenders and the value destroying result of the dealings with customers lack sufficient evidence. This research has helped in filling the gap in the existing literature and in serving as the basis for the economic and social development of Nigeria and other developing and developed countries of the world. Originality/value: This is the first time in the industrial goods sector that we are associating four new corporate social responsibility variables namely, CSR to suppliers, CSR to customers, CSR to tax authorities and CSR to lenders with shareholders’ wealth. This study encourages the revival of CSR to employees and CSR to tax authorities which are currently value destroying in the industrial goods sector of Nigeria.

This study sought to assess the significance of dividend policy and suggest measures that could enhance its effectiveness on firms’ performance in Nigeria. To achieve the objective, some financial and performance indicators were evaluated. The ex-post facto research design was adopted and the data were collated, analyzed and tested using the descriptive statistics and the panel data analysis techniques. Analysis revealed that without the moderating variable (corporate governance index), dividend payout ratio was statistically insignificant both in the short run and long run periods. This implies that without the moderating variable, the relationship between dividend payout ratio and firm performance is a matter of chance. While, with the moderating effect, dividend payout ratio became statistically significant in the short run as well as in the long run indicating that existence of a relationship between dividend payout and firm performance is not caused by chance. Also, without the moderating variable, dividend per share was statistically insignificant in both the short and long run periods. The investigation concluded that amongst the various dividend policy options considered, dividend payout ratio is the most critical dividend policy measure that determines the performance of a firm both in the short and long run periods. The study recommended among others that listed firms that are willing to maximize shareholders wealth and firms value should consistently increase their dividend payout ratio as this signals that the firm is financially healthy.

This study examined contributory pension fund assets on economic performance of Nigeria, specifically, to determine the impact of pension fund assets on the real capital market capitalization in Nigeria. The proxies for measuring pension fund assets included ordinary shares, government securities, corporate debt securities, money market instruments, real estate property and other securities. To achieve the stated objectives, the study adopted the exploratory research design and employed the ordinary least square (OLS) estimation technique within the modelling framework of autoregressive distributive lag (ARDL) analytical methods in testing and in the estimation of the relevant equations. The findings from the analyses revealed that the relationship between pension fund assets and real capital market capitalization in Nigeria was found to be positive and significant in the long run as well as in the short-run. In conclusion, contributory pension fund asset has effective and efficient capacity in boosting economic performance (capital market capitalization) in Nigeria. Based on the findings from this study, there should be more investment of pension fund in ordinary shares, government securities, money market instruments and other forms of assets in order to boost credit to core private sector in Nigeria.