Manufacturing Firms In Nigeria Research Articles

The Influence of Supply Chain Management Practises on Operational Performance of Quoted Manufacturing Firms in Nigeria: Procurement Outsourcing And Order Process Management View

The study explored the influence of supply chain management practises on operational performance in the manufacturing firms in Nigeria. Conversely, the study adopted the cross-sectional survey research design. Data were primarily sourced through administered questionnaires. A collection of four thousand, nine hundred and eighty-four (4,984) employees of all manufacturing firms listed on the Nigerian Stock Exchange (NSE) and operating in Nigeria's Edo and Delta States make up the study's population. A sample size of 370 was computed using the Yamane’s formula and same number of questionnaires was administered but 318 were found fit in testing the formulated hypotheses. Research data were analyzed, using descriptive and inferential statistical instruments. Based on the ordinary least squares regression, the study revealed that procurement outsourcing (?= 0.082974, t-Statistic= 3.049313 and p<0.05) and order process management (?= 0.349839, t-Statistic= 7.972484 and p<0.05) have positive and statistically significant relationship with operational performance of quoted manufacturing firms in Nigeria. Based on these conclusions, the study suggested that management of manufacturing firms conduct a benchmarking exercise for best players in the industry as a way to improve their procurement outsourcing practices, and that the facility and competence of order processing system should be routinely evaluated using indicators that tracked the flexibility and dependability of order handling. This would allow them to attain and keep up supply chain performance that is unmatched.

Capital Structure and Financial Performance of Quoted Manufacturing Firms in Nigeria

There is a divide of view on the relationship between capital structure and corporate financial performance. This study explored the effects of capital structure on financial performance of quoted manufacturing firms in Nigeria. The study used panel least square multiple regression to examine secondary data gathered from the 14 sampled organizations’ financial statements from 2011 to 2020. The null hypothesis that there is no statistically significant link between total-debt-to-total-equity and return on assets of manufacturing entities in Nigeria was accepted. The study rejected the second hypothesis relating to long-term-debt -to-total-assets. The study recommended that management of manufacturing corporations that are active on the stock market should strive to increase their long-term-debt-to-total-assets so as to improve their business operations and by extension, their financial performance. The study established that there is a beneficial link between capital structure and financial performance of manufacturing companies.

Ownership Concentration and Earnings Management of Listed Manufacturing Firms in Nigeria: Audit Committee Financial Expertise

Significant corporate shareholders can exert undue pressure on managers to enhance earnings in order to increase corporate value, and that as a result of this undue pressure, managers to resort to earnings management practice in the corporations they manage. This study examined the moderating role of audit committee expertise on the relationship between ownership concentration and real-earnings management in Nigeria. The independent variable (ownership concentration) was measured as shareholders who have more than 5% equity stake in a company, and real-earnings management was measured using the Roychowdhury approach. Audit committee financial expertise which is the moderator, was measured in binary form, 1 if at least one member of the committee has accounting experience, and 0 otherwise. This paper used a sample of 34 manufacturing companies listed on the Nigerian Exchange (NGX) over a period of 15 years from 2007 to 2021. Data was collected from the annual financial reports of the sampled companies. Descriptive statistics, Pearson correlation and Quantile regression was employed for data analysis and the findings show OWNCON has a positive and insignificant effect on REM. However, when audit committee financial expertise was used as a moderator, the effect of ownership concentration on the real- earnings management of listed manufacturing companies in Nigeria became statistically significant. Based on the findings, the study recommends that manufacturing companies should have more concentrated owners because the higher the concentration the less tendency of REM of listed manufacturing companies in Nigeria.

Accounts Payable Turnover and Firm Performance of Quoted Manufacturing Firms in Nigeria

Purpose: The objective of this study is to ascertain the nexus of accounts payable turnover and firm performance of quoted manufacturing firms in Nigeria. Research methodology: This study adopted an ex-post facto research design. The sample comprised seventy-five non-financial firms quoted on the Nigerian Exchange Group (NGX). The study purposively selected all available non-financial firms during the study period: 2010-2019. This study utilized secondary sources of data, i.e., computed financial ratios from annual financial statements downloaded from the MachameRatios® database. The data were analyzed using multiple regression techniques. Results: There is a non-significant positive effect of the accounts payable turnover ratio on ROA (p=0.9729) and ROE (p=0.2669); and; a significant negative effect of the accounts payable turnover ratio on Tobin’s Q (p=0.0140). Limitations: The limitation of the study is the failure to account for endogeneity concerns in firm performance studies. Contribution: The study contributes to the working capital management literature and specifically to the credit management axiom. It also showed a differential effect of APT on various firm performance proxies which have significant implications for managers, e.g., finance officers in corporations that intend to utilize the accounts payable turnover as a strategy to grow the performance of the firm in the short and long term. Practical implication: The practical implication of this research is that managers can alter their firm performance from responsible accounts payable turnover management. Novelty: The study uses a unique dataset of non-financial firms within a framework of robust control variables to examine the relationship between APT and firm performance proxies.

Audit Firm Size and Earnings Management in Listed Manufacturing Firms in Nigeria: An Empirical Analysis

Audit Firm Size and Earnings Management in Listed Manufacturing Firms in Nigeria: An Empirical Analysis

Effect of Financial Risk on Performance of Selected Manufacturing Firms in Nigeria

Effect of Financial Risk on Performance of Selected Manufacturing Firms in Nigeria

Trend and Patterns of Market Value of Listed Manufacturing Firms in Nigeria (2008 -2018)

The study analysed the trend and pattern of market value of firms from 2008-2018. The study adopted ex-post facto research design and used secondary data. The population of the study comprised of 78 listed manufacturing firms on the Nigeria Stock Exchange as at the end of 2018. Purposive sampling technique was used to select firms with up-to-date published financial data and whose stock were traded on the Stock market totaling 56. The data were analysed using table, percentages and bar chat. The study showed upward and downward movements in the value of firms during the sample period. The market value increased from 2008 -2009 by 0.33%, declined in 2010 by 4.93% increased from 2011 to 2013 by 11.75% and decreased from 2016 to 2018 by 14.59%. A policy implication with respect to this finding is that the study confirmed that Nigeria’s economy through the manufacturing sector is growing gradually. It is recommended that Nigeria need to intensify and formulate stable trade policies capable of promoting sustainable growth within and outside the country.

"Impact of Entrepreneurial Orientation on Performance of Manufacturing Firms in Nigeria Manufacturing Firms in Nigeria "

The study investigated the impact of entrepreneurial orientation on performance of manufacturing firms in Nigeria. The specific objectives of this study were to: investigate the impact of risk-taking on the innovative performance, examine the influence of autonomy on the innovative performance and assess the moderating role of competitive environment on the relationship between entrepreneurial orientation and innovative performance of selected manufacturing firms in Nigeria. A purposive sampling technique was adopted to select the sample size of 373. Primary data were collected through the use of questionnaire and the data were analysed using descriptive statistics, simple linear regression and hierarchical regression. Hypothesis One indicated that there is a significant positive association between risk-taking and innovative performance (R2 = 0.728, p=0.000 < 0.05). Similarly, hypothesis Two revealed a significant positive association between autonomy and innovative performance (R2 = 0.604, p=0.000 < 0.05). Hypothesis Three showed that competitive environment moderates the relationship between entrepreneurial orientation and innovative performance (Adjusted R2 = 0.673, p=0.000 < 0.05). The study recommends that consumer goods manufacturing firms should make continuous and intense efforts to increase their competitive aggressive stance by out-performing their industry rivals in all business activities. Secondly, they should be continually proactive, which implies that they should have the foresight to seize business opportunities at all times.

EFFECT OF FIRM PRODUCTIVITY ON FINANCIAL PERFORMANCE OF FOODS AND BEVERAGES MANUFACTURING FIRMS IN NIGERIA

The study investigated the effect of firm productivity on the financial performance of food and beverage manufacturing firms in Nigeria from 2011 to 2020. The specific objectives of the study are: to ascertain the effect of sales growth, sales per employee, and profit per employee on return on assets of foods and beverage manufacturing firms in Nigeria. A sample of eight (8) firms was selected from the fifteen (15) food and beverage manufacturing firms listed on Nigeria Stock Exchange during the period. The data collected from the selected firms were analysed using multiple regression analysis and t-statistics. Results from the study showed that the effect of all the independent variables (sales growth, sales per employee and profit per employee) on the returns on assets of the foods and beverage manufacturing firms are positive and statistically significant. The implication of these findings is that as sales growth, sales per employee and profit per employee increase, the return on assets of the firms also increases and vice versa. Based on these findings the study recommended that the managers of foods and beverage manufacturing firms in Nigeria should increase their sales growth by increasing sales revenue in order to increase return on assets. The study also recommended that the managers should produce high-quality goods, expand their firms’ distribution channels, and engage in advertising and sales promotion so as to increase sales per employee and return on assets. The study further recommended that the firm managers should increase profit per employee to increase return on assets and maximize wealth for shareholders of the firms. An increase in sales revenue, cost reduction, and engagement of a reasonable number of staff are some of the ways to increase profit per employee.

Bolstering the role of human resource information system on employees’ behavioural outcomes of selected manufacturing firms in Nigeria

The efficient use of an organisation's valuable human resources is crucial to its success. Organizations are embracing HRIS more and more to ensure the efficient utilization of their human resources (a relatively new technology in HRM). However, enterprises, especially manufacturing firms, are lagging in reaping the benefits of modern technology due to a slew of challenges. To close the stated gaps, the current study investigated the role of human resource information system on employees' behavioural outcomes in selected manufacturing firms in Nigeria. The diffusion of innovation theory was used to explain the inevitability of new technology in HRM. The target population comprised managers and supervisors of Nigeria's selected Fast Moving Consumer Goods firms (FMCGs). Specifically, the purposive sampling technique was adopted to select the participants for this study. Copies of the questionnaire was used to collect data from a diverse cross-section of the managers and supervisors. The information collected was analyzed using structural equation modeling. The findings revealed that manpower planning information, performance appraisal information and succession planning information are predictors of employees' behavioural outcomes. It was concluded that management apprehension, employee privacy concerns, internal organisational opposition, and conversion costs are the most significant barriers to effective HRIS implementation. Finally, several quantifiable approaches to improve new technology in HRM were proffered.

The Influence of Tone at the Top on Financial Statement Fraud of Listed Manufacturing Firms in Nigeria

Financial statements prepared by the management remains the umbilical cord that connects the financial health of an enterprise to the various stakeholders who rely on them to take informed economic decision. However, the contemporary global business community has unimaginably been submerged in the recent wave of the shocking death of notable corporate entities sooner after the publication of juicy profits which metamorphosed from the poor and ineffective tone at the top orchestrated by top management in collaboration with the independent external auditors. Most of these corporate collapses were associated with the top management with widely exercised corrupt practices. The inefficient or nonexistence of tone at the top in most of entities contributed to the widespread violations and exploitation of accounting loopholes. These apparent upsurge of recently doctored financial statements frauds have resulted in the impairment of firm’s productivity, operational efficiency, damages reputation for businesses, heavy financial losses, collapse of an entire organization and have severely eroded the stakeholders’ confidence and public trust. The thrust of this study is to establish and develop efficient and formidable tone at the top that will help to ameliorate financial statement fraud rascality in the quoted Nigerian manufacturing sector. Ethical leadership strategy, corporate ethical culture and risk management practices were used as the proxies of tone at the top while improper revenue recognition dimension of the financial statements fraud. The researchers adopted correlational survey design for the study and used primary data via structured questionnaire. The null hypotheses were formulated and tested at 0.05 level of significance and other data were analyzed by Pearson Product Moment Correlation and multiple linear regression model with the aid of Statistical Packages for the Social Sciences version 25. The study found that all the tone at the top proxies; Ethical leadership strategy, corporate ethical culture and risk management practices positively and significantly related to improper revenue recognition of quoted Nigerian manufacturing companies in the period of this study. The study concludes that tone at the top effectively and significantly related with the financial statement fraud. We recommend that the policymakers to prompt manufacturing companies in the country to develop strategies for tone at the top with strong ethical approach where employees will be trained and re-trained on the need always to do what is rightful and needful at every moment in the society and workplace. We also suggest that the parents should give their wards very good upbringing so that they can be useful in society and will be free from all social vices such as fraud.

Inventory Management Practices and Organizational Productivity in Nigerian Manufacturing Firms

This study examined the relationship between inventory management practices and productivity of selected manufacturing firms in Nigeria. The inventory management practices examined include inventory record accuracy, lean inventory system, buffer stock management and Information and Communication Technology. In addition, organizational productivity was measured along two dimensions namely: organizational effectiveness and organizational efficiency. A survey research design was adopted for the study. The population of the study comprises employees in the following departments – commercial, finance, production, distribution and inventory – of five selected manufacturing companies in Benin City. A sample size of two hundred and sixteen (216) employees from Seven-Up Bottling Company Ltd, Global Horn Industry PVC Ceiling Limited, Integrated Rubber product Nigeria Plc., Livestock Feeds Plc and Nigeria German Chemicals in Nigeria were selected for the study. The instrument for data collection was a questionnaire. Data collected from the questionnaire were analysed using frequency distribution, mean, correlation and regression. All analyses were done using the Statistical Package for the Social Sciences (SPSS) software. The findings of the study revealed that inventory record accuracy, lean inventory system and information technology have a positive and significant effect on organizational productivity in Nigeria while buffer stock management was found to be insignificant. The study recommends the need for manufacturing firms to improve their inventory record accuracy by using system-based inventory management practices to enhance organisational performance.

Sustainable Capital Reporting and Financial Performance of Quoted Manufacturing Firms in Nigeria

Sustainable Capital Reporting and Financial Performance of Quoted Manufacturing Firms in Nigeria

Determinants of Dividend Policy in Foods and Beverages Manufacturing Firms in Nigeria

Determinants of Dividend Policy in Foods and Beverages Manufacturing Firms in Nigeria

Effect of economic indices on the performance of listed multinational manufacturing companies in Nigeria

This paper examines the effect of economic indices on the financial performance of multinational manufacturing firms in Nigeria from 2004-2021. The Expo facto research design was adopted along with ordinary least squares, and other econometric tests to estimate the effect of the predictor variables on the response variable. The population comprises 22 listed multination manufacturing companies and 19 companies were used as the sample size which represents 86 percent of the population. We found that the exchange rate, inflation rate, and government capital expenditure all have a correlation with return on equity (ROE) based on the regression results, but other econometric parameters showed no significant relationships between the explanatory variables and ROE because a 1 percent rise in predictor variables results in a decrease in ROE. This is a clear indication that Nigeria’s economy is bleeding profusely due to the high exchange rate and the economy is still battling inflation coupled with infrastructural challenges. We recommended that to reduce the effect of the exchange rate, the Nigerian government should make the economic environment business-friendly by encouraging mass production and patronage of made-in-Nigeria in order to curtail the increase in the importation and adopt the public-private partnership (PPP) model to harness other mineral resources for export thereby putting cost-push inflation in check and the exchange rate. Also, the electricity supply should be improved to mitigate the costs of production which will also help address the inflation rate.

Effect of Cash Conversion Cycle on Firm Performance of Quoted Manufacturing Firms in Nigeria

This study examines the effect of the cash conversion cycle (CCC) on the firm performance of quoted manufacturing firms in Nigeria. The study adopted the ex-post facto research design. The sample comprised twenty-one quoted manufacturing companies on the Nigerian Stock Exchange selected using the purposive sampling technique. The study relied on secondary data which was analysed using multiple regression techniques. The results showed that CCC had a negative non-significant effect on return on assets (ROA) and return on equity (ROE). Additionally, Generalised Least Squares were used to test for individual components of the CCC effect on ROA and ROE. The study recommends that managers pay crucial attention to the working capital components and the utilisation of technological breakthroughs, such as the Advanced Manufacturing Techniques as it affects the value of the firm.

Mediating Effect of Work Motivation on Green Human Resource Management Practices and Employees’ Behavioural Outcomes

Green human resource management practices have practically produced positive results for the environment. This arises as many organisational goals have been required to prioritise environmental problems and organisational sustainability due to emerging global environmental concerns. This does not suggest that the organisation should be painted green, but rather that the initiatives adopted by organisations in a specific sector are environmentally conscious of achieving required behavioural dispositions. But this may not be achieved without consistent work motivation. Hence, this research investigated the mediating effects of work motivation on Green HRM and employees’ behavioural outcomes in Nigeria's manufacturing industry. The Stakeholders’ theory was adopted for this study and it assumes that stakeholders have the power to persuade organisations to adopt environmental practices that result in better environmental outcomes. A descriptive survey research design was adopted to explain the mediating effect of work motivation on Green HRM and employees’ behavioural outcomes. An online questionnaire was employed and distributed to the selected manufacturing firms in Nigeria. This study focused on five (5) different manufacturing firms selected based on their performance, reputation, overall assets and ranking. The data for the study were analysed and presented using SPSS and SEM-PLS (Structural equation method). The findings indicated that motivation, to a great extent, mediates green HRM and employees’ behavioural outcomes. Additionally, the findings made it possible for Nigerian manufacturing companies to prioritize green HRM methods in order to boost employee motivation and reinforced behaviour. Based on the findings, it was proposed that managers in the sampled Nigerian manufacturing sector make an effort to give employees' participation in green activities to measure and evaluate organisational performance. Also, while embracing green HRM practices, the management of the Nigerian manufacturing sector should inspire their members of staff.

Responsiveness of Operational Performance to Corporate Charges of Foods and Beverage Manufacturing Firms in Nigeria

Responsiveness of Operational Performance to Corporate Charges of Foods and Beverage Manufacturing Firms in Nigeria

Corporate Governance and Earnings Management of Consumer Goods Manufacturing Firms in Nigeria

Corporate Governance and Earnings Management of Consumer Goods Manufacturing Firms in Nigeria

Specific Factors Influencing Trade Credit of Foods and Beverage Manufacturing Firms in Nigeria

Specific Factors Influencing Trade Credit of Foods and Beverage Manufacturing Firms in Nigeria