Selected Manufacturing Companies Research Articles

Parameters of Strategic Agility and Organizational Performance: An Empirical Study of Manufacturing Sector in Oyo State, Nigeria

This study examines the impact of parameters of strategic agility on the organizational performance of manufacturing sector with specific reference to Oyo State, Nigeria. Specifically, the study determines the extent to which strategic sensitivity, strategic response, information technology capabilities and human resource capabilities influence organizational performance. A purposive sampling technique was used to select 10 (ten) manufacturing companies in Oyo State, whilst the convenient sampling was used to choose 24 (twenty-four) respondents from each selected manufacturing companies, totaling two hundred and forty (240) respondents as a sample size for the study. Data were analyzed with the aid of correlation and regression. The results reveal that there is significant relationship between strategic agility parameters and organizational performance. This indicates that strategic sensitivity, strategic response, Information technology capabilities and human resource capabilities jointly and independently influence organizational performance. The implication of this finding is that Nigerian manufacturing must implement strategic agility and remain competitive to manage a dynamic business environment through a scientific and flexible manufacturing process with the best workforce, with fast and proactive response, and latest information technology. Keywords: Strategic sensitivity, Strategic response, Information technology capabilities, Human resource capabilities

Effect of Business Process Management on Level of Automation and Technologies Connected to Industry 4.0

The paper is discussing BPM (Business Process Management) which is considered as an approach promising successful business management. BPM can bring many benefits to the companies and our main intention was to study it in context of Industry 4.0. The main goal of the research was to examine the current state of Industry 4.0 technologies implementation in the context of level of BPM in selected manufacturing companies. We decided to examine companies from automotive sector as it is the key sector of the Slovak economy. Also, on the global level, automotive sector is considered as one of the most affected sectors by Industry 4.0. Our sample consisted of 53 automotive companies from Slovak Republic. Our main results are showing that BPM is positively affecting and increasing the level of automation and new technologies of Industry 4.0 implementation.

Earnings Management and Its Implications on Management of Quoted Manufacturing Firms in Nigeria

This study is motivated by concerns investors and other financial reports users have shown after observing many business failures shortly after declaring impressive financial performance. The relationship that may subsist between diverse performance measurements and earnings management in selected manufacturing companies in Nigeria is explored. Twenty-seven (27) firms listed on the Nigerian Stock Exchange (NSE) were purposively drawn for the study using published financial statements for the period 2008-2015. Further, a questionnaire was designed and administered to customers and staff of the companies included in the study. Pooled regression and panel data analysis were carried out and the results show that financial variables of leverage and growth, as well as the non-financial variable perceived quality, significantly influence Discretionary Accruals. Consequently, users of financial reports are encouraged to use both financial and non-financial measures to evaluate companies. The research also emphasized the need for the financial and regulatory authorities to intensify efforts in ensuring that firms manage their earnings properly.

Stock price forecasting using hidden Markov model

We used hidden Markov model (HMM) with single observation to estimate stock prices of selected manufacturing companies from the Nigerian Stock Exchange. Data from 22 November 2013 to 6 July 2018 were partitioned into two datasets for training and testing. Subsequently, the data were differenced, trained, tested and used to forecast closing prices for 60 days for each equity. The HMM was implemented with Matlab. The research revealed closing price prediction accuracy ranging from 3.33% to 96.67% and trade signal precision ranging from 31.67% to 97.67%. Also, the MAE values range from 0.0013 to 34.2867 while the MAPE values are between 0.1498% and 6.0034%. The hypothesis tested revealed that the model is efficient. Similarly, the comparison test conducted revealed the performance of HMM is better than ARIMA and neural network (NN). The research proposes that hidden Markov model be adopted in the exercise of stock price forecasting.

Empirical study of Logistics Outsourcing practices and Firm Productivity of selected Manufacturing Companies in Nigeria

The study determined the effect of efficiency of logistics outsourcing on productivity of the selected manufacturing companies in Southwestern, Nigeria. These were with a view to providing information on the effect of logistics outsourcing on productivity of the selected manufacturing companies in Southwestern, Nigeria. The study adopted a descriptive survey design. Primary data on variables such as haulage, storage and facilities were obtained through the administration of questionnaire to respondents. The population of the study comprised six hundred and twenty (620) senior managers, middle level officers and supervisors who were employees of the selected food manufacturing companies in Lagos, Oyo and Ogun states Southwestern, Nigeria. Sample size of two hundred and sixty (260) employees of manufacturing companies in South western, Nigeria was selected for the study using Taro Yamane’s formula. Data obtained for the study were analysed using tables, percentages and regression analysis. Result from the study showed that logistics outsourcing (t = 31.977, p

Effect of Logistics Outsourcing on Operational Performance of the Selected Manufacturing Companies in Southwestern Nigeria

The study examined the effect of logistics outsourcing on operational performance of the selected manufacturing companies in Southwestern, Nigeria. These were with a view to providing information on the effect of logistics outsourcing on operational performance of the selected manufacturing companies in Southwestern, Nigeria. The article is organized progressively to elucidate on challenges being faced by producers of Fast Moving Consumer Goods and services in delivering values to their customers; and still remain in business as a going concern through outsourcing of logistics activities, despite the cost volatilities. Evidences area bound in the data was collected and analysed to draw up valid conclusions. The study adopted a descriptive survey design. Primary data on variables such as haulage, storage and facility/asset management and operational performance were obtained through the administration of questionnaire to respondents. The population of the study comprised of six hundred and twenty (620) senior managers, middle level officers and supervisors who were employees of the selected food manufacturing companies in Lagos, Oyo and Ogun states of Southwestern, Nigeria. Sample size of two hundred and sixty (260) employees of manufacturing companies in South western, Nigeria was selected for the study using Taro Yamane’s formula. Data obtained for the study were analysed using figures, tables, percentages and regression analysis. Result from the study showed that logistics outsourcing (F = 10.875, p The study concluded that logistics outsourcing significantly enhanced operational performance of manufacturing companies.

Leases Financing, Liquidity, and Return on Equity of Selected Manufacturing Companies in Nigeria: Implication of IFRS 16 Leases

The new IFRS 16 standards, which replaced IAS 17, have brought changes affecting primarily leases, and while the lessor's accounting remains largely unchanged, this could result in changes in companies' investment decision options. Studies have argued that the new IFRS 16 has come with complexities affecting the financial and off-statement of financial position events. However, the extent of the effect on corporate return on equity, especially for manufacturing companies, remains unclear. As a result, the impact of lease financing and liquidity on the return on equity of selected listed manufacturing companies in Nigeria was investigated in this study. Secondary data was acquired from a population of 66 manufacturing organizations using an Expo facto research design. 10 companies were purposefully chosen and listed over a 10-year period from 2011 to 2020. The data was analyzed using descriptive and inferential statistics. Lease finance and liquidity were found to have a beneficial impact on return on equity (<i>Adj.R²</i> = 0.064; <i>F_{(4, 95)}</i> = 18.57; <i>p-value</i> = 0.05). In introducing firm size as a controlling variable, the study revealed that firm size, leases financing and liquidity had a stronger positive effect on return on equity, (<i>Adj.R² </i>= 0.121; <i>F_{(5, 94)}</i> = 28.29; <i>p-value</i> < 0.05). The study concluded that leasing and liquidity had a beneficial impact on the return on equity of selected Nigerian listed manufacturing enterprises. The study recommended that managers show competence when making lease finance and liquidity decisions because poor decisions could jeopardize the attainment of corporate goals and objectives.

Impact of organisational trust, commitment and team orientation on industrial disputes - an empirical study on selected manufacturing companies of West Bengal

Impact of organisational trust, commitment and team orientation on industrial disputes - an empirical study on selected manufacturing companies of West Bengal

A statistical analysis of the relationship between working capital management and profitability: Evidence from selected manufacturing companies of Bangladesh

The aim of this study is to measure the relationship between working capital management and profitability. The research is based on secondary data derived from annual reports of companies listed on Bangladeshi stock exchanges. The sample spans nine years, from 2011 to 2019, and includes 52 manufacturing enterprises in Bangladesh, including 20 pharmaceutical companies and 32 textile companies. The cash conversion cycle is significantly positively associated with profitability, the average collection period is significantly negatively associated with profitability, and the inventory conversion period is also significantly negatively associated with profitability, but the average payable period is not significantly associated with profitability. This research adds to the literature by focusing on working capital management and profitability, particularly in the textile and pharmaceutical industries. There have been a few research on this topic, however they are limited in sample size and time period. This research looks at all active businesses in these two industries. As a result, policymakers in these disciplines may utilize these findings to make decisions. IIUC Business Review Vol. 10, Dec. 2021 pp. 101-114

CAPITAL STRUCTURE AND PROFITABILITY OF CONSUMER GOODS MANUFACTURING COMPANIES IN NIGERIA

The manufacturing sector in Nigeria is characterized by liquidity challenges due to the rising cost of energy, multiple taxations, high-interest rates, poor accessibility to loans and foreign exchange instability which affect profitability. However, the right mix of capital structure is said to correlate with profitability. This study, therefore, determined the effect of capital structure on the profitability of selected manufacturing companies in Nigeria. Employing ex-post facto design, secondary data from 10 manufacturing firms were captured. The Hausman test determined the suitability of random effects panel regression to estimate the effect of capital structure variables on ROE and ROA. The four hypotheses of the study were tested at the 5% level of significance. Results of the study showed that capital structure has a significant effect on return on equity (ROE) with an Adjusted R-squared value of 0.876871 and F- statistics of 236.0122, on return on asset (ROA) with an Adjusted R-squared value of 0.080555 and F- statistics of 3.891215. The study concluded that although the capital structure is vital to the profitability of firms it is not adequately planned in manufacturing firms in Nigeria and has hampered the profitability. The study recommended that manufacturing firms must make good decisions relating to their capital structure if earnings must improve.

Evaluation of the Effectiveness of Employers and H&S Services in Relation to the COVID-19 System in Polish Manufacturing Companies.

With the advent of the COVID-19 pandemic, companies had to adapt quickly to survive in the market. During this time, employers played a key role, along with employees involved in Occupational Health and Safety (OHS) activities, as they were responsible for implementing the recommendations of the European Commission. There is no unambiguous definition of OHS in Polish legislation. It is assumed that it is a set of rules defining the manner of performing work, and above all, a method of providing employees with working conditions so that their performance is safe and hygienic. Responsibility for the health and safety in the workplace is imposed on the employer by the legislature. Thus, effective health and safety training is an essential element of the success of any properly operating company. In the literature, no studies have been identified that evaluate the effectiveness of actions during the COVID-19 outbreak. The aim of the article is to present the actions of Polish employers along with their effectiveness assessment related to the protection of employees during the COVID-19 outbreak. The article presents a proposal for conducting remote OHS (Occupational Health and Safety) training using the platform Moodle. The created course was implemented during OHS training conducted in a selected manufacturing company. At its end, an evaluation of the course was carried out, and the collected opinions of training participants allowed the formulation of interesting conclusions, which became the contribution of this paper. The authors pay special attention to three main points of the work. The first is the form of training, which gives the possibility to conduct training at a distance while maintaining its effectiveness. The second important point is the mandatory feedback of the trainees, ensuring the possibility of continuous improvement and quality enhancement of both the program and the form of training. The evaluation was developed on the basis of the extended Kirkpatrick model, which is a completely new approach to OHS training evaluation. The third point emphasized by the authors is the possibility of precise adaptation of the training to other plants and even industries. Therefore, it can be concluded that the course developed by the authors is a very interesting and practical didactic tool with great implementation potential.

Eliminating Performance Gaps through Corporate Governance for Sustainable Management of Selected Manufacturing Companies in Calabar, Cross River State, Nigeria

The study on eliminating performance gaps through corporate governance for sustainable management was conducted in selected manufacturing companies in Cross River State. The study examined transparency in financial disclosure and accountability in managerial ownership as measures for sustainable management in a dynamic business environment. Two research questions and hypotheses were respectively formulated and agency theory was developed to guide the study. Survey research design was adopted and with a population of 240, a sample size of 152 staff determined with the use of Taro Yamane sampling formula. Stratified sampling method and Bowley’s proportional allocation formular was adopted with the aim of preventing bias in representation. A 21-item structured questionnaire facilitated the collection of data and a pilot study was carried out to determine potential weakness in the research instrument. The instrument was developed, validated and tested for reliability using test-retest method. Data were analyzed using Data and simple percentage andhistogram to show Normality while regression analysis was used to test the hypotheses using SPSS. Finding shows that corporate governance implementation requires transparent financial disclosure to eliminate performance gaps and improve internal efficiency of the organizations. Priority on transparent financial information is addressed by corporate governance and this prevents fraud or irregularities in accounting for improved financial disclosures. The implication of the finding was the rejection of null hypotheses. The study concludes that performance gaps are eliminated by corporate governance principles which aid in realization of stakeholders’ expectation. The study recommends among others that management of the studied organizations should continuously eliminate performance gaps through compliance with International Financial Standards for good practices in corporate governance. Manager’s activities should be continuously monitored by board of directors in order to eliminate performance gaps.

Corporate Taxation and Stakeholders’ Welfare of Selected Manufacturing Companies in Nigeria

This study investigated the relationship between corporate taxation and the welfare of stakeholders such as employees, investors and host communities. Specifically, the study investigated the relationship between corporate tax and employees’ wages, dividend, and corporate social responsibility. Descriptive research design was adopted, and data on selected manufacturing companies were obtained from the published annual financial statements of the companies. Data analysis was conducted using Ordinary Least Square, with the aid of E-views software. The findings revealed that there was a significant relationship between corporate tax and employee wages, and also between corporate tax and dividend payment. Further, there was a significant, positive relationship between corporate tax and the corporate social responsibility engagements of the selected companies. The implication of these consistent findings is that tax payment motivates greater hard work, which translates into better amount of wages, more dividends, and more investment in corporate social responsibility.

Training and Development Practices and Employees’ Performance in Selected Manufacturing Companies in Nigeria

Managing workforce diversity in manufacturing organisations has been a problem all over the world including Nigeria. Manufacturing organisations in Nigeria continue to experience occasional drop in performance due to employees’ apathy and non-challant attitudes as a result of high level of dissatisfaction caused by inadequate attention to training and development practices. This study assessed the relationships between training and development practices and employees’ performance in selected manufacturing companies in Nigeria. A cross sectional survey research design was employed, and out of the 1,568 copies of questionnaire that were administered proportionally in the selected manufacturing companies, 1,153 copies were retrieved and found useful. Data were analysed using descriptive statistics and the hypotheses were tested using Analysis of Variance (ANOVA). The results of the findings show f-statistics of 223.717 and so, there is a significant relationship between training and development practices and employees’ performance among Nigerians working in the selected manufacturing companies. Also, f-statistics of 244.391 shows a significant relationship between training and development practices and employees’ performance among other nationals in the selected MNCs. The study concluded that there are significant relationships between training and development practices and employees’ performance in selected manufacturing MNCs in Nigeria.

Determinants of Investments Opportunities in Selected Manufacturing Companies in Nigeria

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FAKTOR - FAKTOR YANG MEMPENGARUHI PERSISTENSI LABA PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

The purpose of this research is to obtain empirical evidence about the effects of accruals, operating cash flows, leverage, and firm size on earnings persistence in manufacturing industries listed in Indonesian Stock Exchange during the periode of 2015-2017. This research used 61 samples from selected manufacturing companies with purposive sampling method. The data in this research were calculated with Microsoft Office 365 software and processed with Eviews 9.0. The results obtained in this research show that accruals, operating cash flows, and firm size have a significant effect on earnings persistence, while leverage has insignificant effect on earnings persistence.

Safety Riding Gear Wearing Status among Industrial Workers Commute to Work in Bangi: A Baseline Study

&#x0D; &#x0D; &#x0D; In Malaysia, motorcyclists have been known to record the highest fatality rate in road accidents every year. On average, around 12 motorcyclists and pillion riders die each day in road accidents. This is a cross-sectional study conducted among workers riding to work and return from work in selected manufacturing companies in Bangi. Results show the wearing rate of safety helmet and vest among selected companies that participated shows high compliance of helmet wearing while the wearing rate of safety vest was very low, less than 4%. Most of the riders wore the jacket during riding (70.5%) however it was dark colour (74%) and not a proper riding jacket. Last but not least, about 71% of rider wore proper footwear to their workplace rather than slipper. Full commitment from employer and employee is a must to create a safety culture among riders.&#x0D; &#x0D; &#x0D;

PENGARUH BIAYA AUDIT TERHADAP KUALITAS AUDIT DAN DETERMINAN BIAYA AUDIT

PENGARUH BIAYA AUDIT TERHADAP KUALITAS AUDIT DAN DETERMINAN BIAYA AUDIT

Cash Flow Optimality and Investment Returns: Investors Expectations in Listed Manufacturing Firms in Nigeria

This study investigated the effect of cash flow optimality on investment returns in selected listed Manufacturing companies in Nigeria. The population consisted of listed 66 manufacturing companies on the Nigerian Stock Exchange. 25 of these manufacturing companies were purposively selected for a period of 10 years (2010-2019). The study employed data obtained from the published financial statement of the selected manufacturing companies. Panel data analysis was employed while diagnostic tests were carried out and an application of the Hausman test provided the criteria for choosing between Random Effect Models and Fixed Effect Models. Jarque-Bera Normality, Breusch, and Pagan Lagrangian multiplier tests were conducted to confirm the Hausman test results in order to decide between Random Effects and Pooled OLS. The study found that cash flow optimality had a positive statistically significant on return on assets, AdjR2 = 0.099; Wad-chi2 (4, 245) = 22.22; P-value = 0.000). Furthermore, the study revealed that cash flow optimality exhibited a positive statistical effect on Tobin’s Q, (AdjR2 = 0.130; F (4, 245) = 2.884; P-value = 0.025). Thus, the study recommended that since the essence of investment is the expected returns, managers of manufacturing companies should ensure that all strategic decisions are channeled towards this direction, and ensure efficient resources management and cash flow optimal management towards meeting investor returns expectations.

The Influence of Sustainable Talent Management on Job Satisfaction and Organizational Commitment: Moderating Role of In-service Training

The challenges facing today’s organization in the current dynamic and competitive business environment requires the management of its talented employees that will contributes to their achievement of competitive advantage that is sustainable. Studies abound on the contribution of talent management to employee’s job satisfaction and their commitment to organizational commitment, but there is paucity of empirical studies on the sustainability of talent management to the achievement of job satisfaction and organizational commitment. Thus, this study investigates the influence of sustainable talent management on the employee job satisfaction and their commitment to the organization. Five hundred and seventy five structured questionnaires were distributed to the employees of some selected manufacturing companies in Turkey for data collection. PLS-SEM and multi-group analysis were employed using SmartPLS 3 for testing the hypotheses formulated in this study. The finding from our study reveals that talent management has the potential of positively and significantly influences employee’s job satisfaction. Similarly, the influence of talent management on organizational commitment was found to be positive and significant. Moreover, the moderating influence of in-service training was examined on the relationship between talent management and job satisfaction on one hand, and talent management and organizational commitment on the other hand. Our result shows that in-service training significantly moderates the relationships. Finally, the study implication and suggestion for further study were addressed in the study.