The Effect of Economic Recession in Textile Manufacturing Industries in Nigeria

Chukwu, B. A.; Liman, N. A.; Enudu, T O; Ehiaghe, A. F.

doi:10.19026/ajbm.7.2106

Cited by 6 publications

(3 citation statements)

References 3 publications

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“…Mbah, Ekechukwu and Ogbu (2018) observed that the manufacturing industry has witnessed a sharp decline in savings and investment as well as decline in the stock market activities, as some investors have pulled out their funds from the stock market due to high risks and uncertainty. Similarly, Chukwu, Liman, Enudu and Ehiaghe (2015) averred that international firms like Michelin Plc and Dunlop Plc relocated to other African countries and many firms were delisted in the stock Exchange due to poor performance and disclosure. Thus, financial sustainability has become a critical consideration for every organization, be it for-profit or not-forprofit organization.…”

Section: Introductionmentioning

confidence: 99%

Evironmental Accounting Disclosure And Financial Sistainability In Listed Negerian Manufacturing Firms

Ogan,

AKINBOWALE

2021

IJBE

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With the globalization and dynamic nature of the competitive market environment, manufacturing of quality products at affordable prices no longer guarantee sustainable financial performance, hence firms are now running to sustainability measures to remain financially sustainable. However, manufacturing firms in Nigeria has failed to sustain their performance. Thus, the study was initiated to evaluate the effect of environmental accounting disclosures on financial sustainability of listed Nigerian manufacturing firms. Ex-post facto research design using annual reports of 10 listed manufacturing firms was adopted to achieve the objective of the study. Data was measured using multiple regression analysis. The study revealed that environmental accounting disclosures has insignificant but positive effect on financial sustainability of listed manufacturing firms in Nigeria (Adj. R2 = 0.0468, F- statistics = 1.9721, P-value = 0.0899). With the introduction of the moderating effect of firm size, environmental accounting disclosures showed insignificant but positive effect on financial sustainability of listed manufacturing firms in Nigeria (Adj. R2 = 0.0489, F- statistics = 1.8487, P-value = 0.0981). Thus, the study concluded that environmental accounting disclosures do not have positive but insignificant effect on financial sustainability. It is recommended that the accounting profession should develop standards for reporting environmental accounting information by business entities. At the firm level, there should be voluntary disclosures of environmental accounting information.

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Section: Introductionmentioning

confidence: 99%

Evironmental Accounting Disclosure And Financial Sistainability In Listed Negerian Manufacturing Firms

Ogan,

AKINBOWALE

2021

IJBE

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“…Efforts by various government authorities to evolve viable tax system in the country as a panacea for economic growth and development have failed to truly translate to better living conditions for majority of the citizenry, as the economy is still in recession. According to Chinguwo and Blewit (2012) economic recession, financial crisis and climate change problems combined to make life even more difficult for many working people and their families. Although tax revenue is a sustainable way of generating income for government, the irony, however, is that the level of taxation has not been effectively handled to improve this situation as the economy is still in recession and the revenue generation is still poorly across the country.…”

Section: Statement Of the Problemmentioning

confidence: 99%

Managing Economic Recession through Effective Tax Collection: The Nigerian Experience

Gbegi¹,

Adebisi²,

Tosin³

2017

IREF

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Economic recession has eaten deep into the economy to the extent that taxes generated cannot serve as a pivot upon which the economy could strive. This study examines how economic recession can be managed through effective tax collection. Secondary data was obtained from the CBN statistical bulletin between periods of 2003 to 2016. Regression technique was used in testing the data collected with the aid of E-VIEWS. The study revealed that taxes do not have significant positive effect on the nation's Gross Domestic Product, Government Spending, Capacity Utilization and Money Supply. Thus, it implies that taxes in Nigeria are rather unfortunately underexploited, which is an indication of poor tax collection system. This study therefore concludes that, tax should be considered as the urgent and needful panacea to rescue the current economic illness that Nigeria is currently facing. This should be done by ensuring that relevant tax authorities have good tax collection system like effective tax data base, effective E-tax registration, effective E-tax payment and all tax payers should have tax identification number.

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“…Similarly, Durotoye et al (2018), Ukenna, Makinde, Akinlabi, and Asikhia (2019) also emphasized that strategic entrepreneurship results in superior firm performance in a highly turbulent environment for the sole goal of enhancing the market share of the firm. In Nigeria, scholars (Chukwu, Liman, Enudu, & Ehiaghe, 2015;Murtala, Ramatu, Yusuf, & Gold, 2018;Okeowo, 2017) identified low market share of the textile sector given the record of poor leadership, problem of inputs supply, demand, and price competitiveness of the Nigerian textile sector, lack of supportive infrastructure, smuggling and high cost of production which has sent many textile firms in Nigeria into catalepsy.…”

Section: Introductionmentioning

confidence: 99%

Untitled

2020

EJBIR

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This paper investigates how strategic entrepreneurship triggers and sustain market share with emphasis on strategic flexibility, adaptability, innovation, strategic leadership, risk taking and dynamic capabilities. The study utilized quantitative method through cross-sectional research design. Primary data were sourced through an adapted questionnaire. Internal consistency confirmed the reliability of the instrument while the content, construct, and criterion validity were acknowledged. Out of the fifteen textile firms in Lagos State, three textile manufacturing organizations were purposively selected with a population of 253 senior management employees. Total enumeration was applied and 237 copies of the questionnaire were retrieved. An econometric model was developed and multiple regression was applied as data analysis method. The findings indicated that strategic entrepreneurship has a significant effect on market share (adjusted R 2 =0.353 (F(6, 230) = 22.444, p=0.000). However, the individual coefficient results, identified dynamic capabilities, strategic flexibility and adaptability to have exhibited positive and significant effect on firm profitability. The study recommended institutionalization of adaptive inventiveness, litheness in the areas of adaptability, strategic flexibility, and dynamic capabilities to sustain market share.

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The Effect of Economic Recession in Textile Manufacturing Industries in Nigeria

Cited by 6 publications

References 3 publications

Evironmental Accounting Disclosure And Financial Sistainability In Listed Negerian Manufacturing Firms

Evironmental Accounting Disclosure And Financial Sistainability In Listed Negerian Manufacturing Firms

Managing Economic Recession through Effective Tax Collection: The Nigerian Experience

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