Rotating and Savings Credit Association (ROSCAs): A Veritable Tool for Enhancing the Performance of Micro and Small Enterprises in Nigeria

O, Ademola Abimbola.; Ben-Caleb, Egbide; Adegboyegun, A. E.; Eluyela, Damilola Felix; Falaye, Joseph; Abiodun, Samuel Ajayi

doi:10.18488/journal.aefr.2020.102.189.199

Cited by 16 publications

(16 citation statements)

References 19 publications

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“…Operating performance is an element of financial performance. The essence of operating performance is to show how profitable a firm is for a given financial period (Ademola et al, 2020;Eluyela et al, 2019). Previous studies like (Adedeji & Olubodun, 2018;Nyakundi, Nyamita, & Tinega, 2014;Oseifuah & Gyekye, 2013) have examined the relationship between the internal control system and financial performance in different regions.…”

Section: Introductionmentioning

confidence: 99%

Internal Control Systems and Operating Performance: Evidence from Small and Medium Enterprises (SMEs) in Ondo State

Adegboyegun

Ben-Caleb

Oladutire

et al. 2020

Asian Economic and Financial Review

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This study examined the internal control systems and operating performance of SMEs in Ondo State. Specifically, the study analyzed the impact of internal control system components on the profitability of SMEs in Nigeria and a total of 120 SMEs were sampled for the study. Data used in the study were collected with a questionnaire. Collected and collated data were analyzed using logistic regression estimation. The result showed that the probability that an SMEs will have high level of operating performance in terms of higher actual annual profit increases insignificantly by 0.78% and 1.95% respectively, when there is a unit measure of improvement in the control environment and control activities and that the probability declines insignificantly by 0.051%, 0.33% and 4.53% respectively, with a unit measure of improvement in risk assessment, information and communication and monitoring activities. The study established that the components of internal control system has no significant impact on the operating performance of SMEs in Ondo State, though the control environment and control activities have a positive impact on the probability of an enterprise recording a high operating performance. Hence, SMEs should maintain and leverage the positive impact of the control environment and control activities to boost their operating performance, However, issues surrounding risk assessment, information and communication as well as monitoring activities should be addressed systematically based on the reality of the operational structure of each enterprise. Contribution/ Originality:This study contributes to the existing literature by finding that SMEs should commit more to integrity, ethical value, competence, accountability, as well as the development of preventive and detective control activities through the engagement of technology, and standardization of policies and procedures for transaction approval, verification and reconciliation.

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Section: Introductionmentioning

confidence: 99%

Internal Control Systems and Operating Performance: Evidence from Small and Medium Enterprises (SMEs) in Ondo State

Adegboyegun

Ben-Caleb

Oladutire

et al. 2020

Asian Economic and Financial Review

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“…The data analysis method is the panel data regression technique (Adegboyegun et al, 2020a;2020b;Ademola et al, 2020b). Firstly, the descriptive statistics were presented in the result section.…”

Section: Methodsmentioning

confidence: 99%

Enterprise Risk Management (ERM) and Firm’s Performance: A Study of Listed Manufacturing Firms in Nigeria

Otekunrin¹,

Eluyela²,

Nwanji³

et al. 2021

RWE

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Increased volatility in the business world has exposed the inadequacy of traditional approaches to risk management. This has led to an integrated approach to measuring and managing risks known as enterprise risk management (ERM). At the same time, past studies on ERM disclosures have examined it within the context of book-based approach, which has not given the right and accurate information. However, this paper examined the significance of enterprise risk management and listed manufacturing firms' financial performance in Nigeria using both the book-based approach and the market-based approach. Relevant ERM theories in relation to financial performance such as Agency Theory, Stakeholders Theory, and Enterprise Risk Management Theory were examined. A panel data analysis was employed on time series and cross-sectional data of thirty listed manufacturing firms in Nigeria from 2010 to 2018. The random effect of the Hausman test was found to be more appropriate and hence adopted in interpreting the results of the analysis. The results confirm the a priori expectations that profitability ratio, liquidity ratio, market-based ration to risk board committee, the board size, firm size, and directors’ ownership all have varied impact on the firm’s profitability with varied statistical significance levels.

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“…The countries were selected based on the availability of the financial statements for the time frame (2013-2018) of the study. Financial statements of some listed banks in Emerging Economies in Africa between the years 2013-2018 were not available for public consumption and research purposes, hence their exclusion from the sample size Ademola et al, 2020a;2020b;Ozordi et al, 2020). This study employs data from only listed banks in these regions majorly because the Stock Exchange Markets are regulated and data obtained from there have at least been validated by external auditors.…”

Section: Methodsmentioning

confidence: 99%

Firm Size and Financial Performance Among Listed Banks of Emerging Economies in Africa

Umukoro¹,

Uwuigbe²,

Obigbemi³

et al. 2021

RWE

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The continuous increase in the size of various firms and listed banks, has necessitated the need to empirically examine the effect firm size has on the financial performance of listed banks in Africa. This is because some organisations and institutions have in time past failed to fulfill their going concern objective despite their large firm size balance. This study examined the effect firm size has on the three levels of cash flow of emerging economies in listed banks in Africa. The study employed the use of multiple regression analysis with the aid of the STATA statistical software tool. The result obtained revealed that for the operating level of cash flow, all countries used in this paper, with the exception of Kenya should continue to employ the independent variable as a corporate strategy method as it increases operating cash inflow. The financing level of cash flow results recommended that all countries except Nigeria should continue to utilize firm size as a significant value was obtained from the regression. The investing level of cash flow results produced a significant P-value for all countries with the exception of Botswana. The study, therefore, recommended that listed banks in Kenya, Nigeria and Botswana should apply caution in employing the firm-size corporate strategy method. This is because it doesn’t guarantee cash inflow in all three levels of cash flows.

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Rotating and Savings Credit Association (ROSCAs): A Veritable Tool for Enhancing the Performance of Micro and Small Enterprises in Nigeria

Cited by 16 publications

References 19 publications

Internal Control Systems and Operating Performance: Evidence from Small and Medium Enterprises (SMEs) in Ondo State

Internal Control Systems and Operating Performance: Evidence from Small and Medium Enterprises (SMEs) in Ondo State

Enterprise Risk Management (ERM) and Firm’s Performance: A Study of Listed Manufacturing Firms in Nigeria

Firm Size and Financial Performance Among Listed Banks of Emerging Economies in Africa

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