The theory of capital structure is an important reference theory and perhaps, one of the most puzzling issues in corporate finance. The determination of optimal capital structure which maximizes firm’s value has frustrated theoretician for decades. The early works made numerous assumptions in other to simplify the problem and assumed that both the cost of debt and cost of equity were independent of capital structure and that the relevant figure for consideration was the net income of the firm.... read more

Privatization has become a major strategy adopted world over to improve the performance of public enterprises. It is a known fact that one feature of public enterprises all over the world but more importantly in developing countries of Africa especially Nigeria is inefficiency, bureaucracy of public enterprises and uncared attitude of most public servants or most people to public work and property. This leads to waste, slow growth and inordinate dependence on government support (in the form of a... read more

This study aims to analyze through the econometric methodology of the effects of monetary policy in the Nigerian economy. To achieve the above objective, the growth in production was chosen as the dependent variable, while the real exchange rate, real interest rates and inflation has been chosen as the independent variable. The ordinary least square was used in the regression estimate. According to the empirical results, we realized that the whole variables are insignificant in the t-test, but i... read more

This research examined the impact of commercial bank credit for agricultural production in Nigeria using macroeconomic variables (of commercial bank credit and agricultural products). The overall objective of the study is to examine to what extent the credits of commercial banks had supported agricultural production Nigeria. The specific objectives are: (i) to determine the impact of trade credit banks on agricultural production in Nigeria, and (i) to determine the impact of agricultural product... read more

Most of the world renowned companies and organizations started as a small scale business with skills and efforts they grew up to the conglomerated and multinational companies of today. Small scale business occupies a unique position in the economy of any nature and they are the bedrock of any economic development. They constitute of the cornerstone of any competitive economy and by far outnumber the large scale business. Also, they provide large scale business, more fertile ground for creativit... read more

Human capital development is human centered because its major concern is on human empowerment which would lead to active participation. According to OECD (2001), human capital is concerned with knowledge, skills competitiveness and attributes embedded in an individual that facilitates the creation of personal, social, education and economic wellbeing. In order to achieve positive economic growth in Nigeria, human capital development should be considered as an integral and important factor for ed... read more

Cash management is essential to every business that desires to meet up with its short-term financial obligations. Akinsulire (2003) asserts that the success of any business venture is predicated on how the management has planned and controlled its cash flows. According to Olowe (2008), cash management is concerned with the efficient management of cash so as to achieve an optimum level of cash in the firm’s working capital. Cash represents the basic input necessary to start and keep a business ... read more

Exchange rate is the price of one country’s currency expressed in terms of some other currency. It determines the relative prices of domestic and foreign goods, as well as the strength of external sector participation in the international trade. Exchange rate regime and interest rate remain important issues of discourse in the International finance as well as in developing nations, with more economies embracing trade liberalization as a requisite for economic growth (Obansa, Okoroafor, Aluko a... read more

Financial literacy remains an interesting issue in both developed and developing economies, and has elicited much interest in the recent past with the rapid change in the finance landscape. OECD (2005), defines financial literacy as the combination of consumers’/investors’ understanding of financial products and concepts and their ability and confidence to appreciate financial risks and opportunities, to make informed choices, to know where to go for help, and to take other effective actions... read more

The Nigerian exchange rate policy was largely a passive one before the inception of the Structural Adjustment Programme (SAP), dating back to 1959 with the introduction of pounds that year. Nigerian authorities’ failure to devalue its Nigerian pound in response to devaluation of dollar in December 1971 resulted in the appreciation of the Nigerian pound dollar exchange rate from $2.80- $3.80 to the naira pound. Nigeria failed to devalue because of the optimism about the sustainability of the ra... read more

Nigeria as a sovereign nation operates a federal system of government i.e the federal government, state government and the local government councils. Onwo (1992) Observed that each level of the three tiers of government derive its powers not from the magnanimity of the central government but from the constitution; each level of government has defined responsibilities assigned to it by the constitution. The implication of this is that the three segments of governments are mutually interrelated... read more

In recent times, Nigerian economy has been characterized by high levels of public debt along with persistent low economic growth. As such, an understanding of the dynamics between public debt and growth is critical in addressing the obstacles to economic growth and to improve debt sustainability in Nigeria (Omet, Aktham&Fadwa, 2002). Traditionally, the main drivers of economic growth are the level and quality of a country’s physical and human capital, technological advancement and the quality ... read more

There are several factor that are considered with view of the economic development of Nigeria, some of this factors include taxation, fiscal policies and social policies etc; but for the purpose of this study we shall consider the effect of taxation on fiscal policy development in Nigeria; taxation is one of the major pivot to consider when dealing with fiscal policy; Olanifa I.F (1994) in his work said that it is compulsory transfer of resources from private sector to the public economy of the ... read more

Monetary policy entails the government policies aimed at changing the quantity of money or credit condition for example, open market operation or changes in required reserved ration etc. Monetary policies involves changes in the quantity of money held by the public. In our economy, there are two types of money most obviously- the naira bills and coins which you have in your pocket and money. In every economy, after fiscal policy, the next most powerful macro-economic stabilization is monetary p... read more

The importance of managing the economy effectively cannot be over emphasized.ICT has the power to change, transform lives, influenceeconomic activities and the society. The banking sector is not an exception of this whole change and transformation. Just as the entrance of God’s word gives life, the entrance of information technology into the banking industry gives life and definition to banking operations. It is on this premise that we say that banks cannot decline information technology, beca... read more

Following the uncertainties prevailing in the Ghanaian business environment today, managers and stakeholders must be poised and prepared to compete favourably under these rapidly shifting conditions. In order to survive under these environmental complexities and vagueness managers and stakeholders of both private and public sectors need sharp tools, proven management techniques to forecast the major changes which are likely to affect the business while they choose future direction and dimension ... read more

A budget is a detailed financial plan that quantifies future expectations and actions relative to acquiring and using resources (Barro et al, 2007). It is a method of communicating the goals of an organization to the appropriate managers in order to facilitate, coordinate and control various sections of the organization so the desired outcomes are achieved (Argyris, 1953). According Abel and Andrew, (2005) Budget helps to aid the planning of actual operations by forcing managers to conside... read more

The advanced and developed economies of the world today would not have been what they are today without relying on effective power generation for their rapid growth recorded. According to Mulegeta et al (2010), power generation is an indispensable component in economic performance, directly or indirectly as a complement to capital and labor as an input in the production process. However, this study is examining the impact of power generation on economic performance of Nigeria between 1970 and 20... read more

International Monetary Fund (IMF) has revealed that there has been significant and prolonged drop in oil prices since mid-2014, this has changed the fortunes of Nigeria and many other energy-exporting nations around the world. This, finding from this IMF report that budgets in oil exporting nations have generally turned from surpluses to large deficits, growth has slowed, and financial stability risks have increased (Oriakhi&Iyola, 2013). However, in such a challenging environment, a policy t... read more

Unemployment is generally agreed to be symptom of macro- economic illness which couldinVolu“bentary”“volunta.Whe is said voluntary I mean a condition where somebody chooses not to work because they have a means of support other than employment example is the idle rich man. On the other hand involuntary unemployment exists when persons are willing to work at the prevailing rate of pay but unable to find work. (Anyanwu 1995). Balogun, ed et el (2003) also defined unemployed as the p... read more