The study examines the influence of organizational culture and innovation on banks’ performance with particular reference to the selected banks in Nigeria. Data were gathered using a self-administered questionnaire distributed to the 175 employees of Zenith bank, Guaranty bank, First bank United Bank for Africa, and Eco bank located in Ibadan metropolis. Pearson Moment correlation and regression model were used to analyse the data. The study established that organizational culture and innovation jointly and independently influence banks’ performance. It was also established that organizational culture has a direct and positive association with innovation. It was concluded that organizational culture and innovation are major strategies for the banking sector to wax stronger minds global competitive environment and COVID-19 syndrome. Therefore, Nigerian banks encourage their staff members to create innovative ideas and provide them the right reward to establish an innovative culture in the organization. This study practically provides a useful recommendation to the Nigerian banks on the significance of organizational culture and innovation and their contribution to performance.
This study examines the mediating effect of financial literacy on the relationship between financial inclusion and SMEs’ performance. Using a targeted sampling technique, we selected SMEs that have been in operation for 5 years and are duly registered with SMEDAN. Meanwhile, a simple random sample was used to select 250 SME operators or managers for the study. Data were analyzed using structural equation modeling (SEM). The results show that financial inclusion is positively and significantly associated with SME performance. There is also evidence that financial inclusion is directly related to financial literacy. Furthermore, the results show that financial literacy has a large positive impact on the performance of SMEs. Financial literacy has also been found to partially mediate financial inclusion and SME performance. The study then recommends that small business regulators work with accounting professional organizations to organize financial literacy workshops, seminars, and short courses for small business owners. This goes a long way in making funding more accessible for small business operators.
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