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African Journal of Business and Economic Research (AJBER) Vol. 19, (Issue 2), June 2024
About This Edition
ISSN : 1750-4554 E-ISSN: 1750-4562
Table of Contents :
Nexus between Financial Inclusion and Economic Growth
Sanderson Abel, Julius Mukarati,Valentine Mutandagayi,Leward Jeke, Robson Manenge and Pierre Le Roux 9
Financial inclusion ensures access to appropriate financial products and services needed by all sections of society, especially the vulnerable low-income groups, at an affordable cost fairly and transparently by regulated mainstream financial institutions. The study investigated the causal relationship between financial inclusion and economic growth. The study adopted the Granger causality test, using the two-step generalised method of moments. The study adopted three measures of financial inclusion: branches of commercial banks per 1000 adults, depositors with commercial banks per 1000, and outstanding loans with commercial banks as a percentage of gross domestic product. The results showed bidirectional causality between economic growth and financial inclusion. The results imply that causality runs from economic growth to financial inclusion and vice versa. It shows that there is two-way causality. These results apply to two measures of financial inclusion, i.e., branches of commercial banks per 1000 adults and outstanding loans with commercial banks as a percentage of gross domestic product. The results between depositors with commercial banks per 1000 and economic growth showed a unidirectional causality from economic growth to financial inclusion. The result of the study implies that governments in the Southern African Development Community should pursue twin policies that spur both financial inclusion and economic growth, given that both are essential variables influencing each other.
Keywords: Causality, Economic growth, Financial inclusion, Generalised method of moments
The Nexus Between Economic Institutions and Multidimensional Poverty in Sub-Sahara Africa
Oniyide, Gbenga Daniel, Abdulhakeem A. Kilishi and Abdulrahman, Idris Abdulganiyu29
How Does International Trade Cum Regional Integration Affect Economic Growth? Insights from African Countries
Denis Nfor Yuni 49
The COVID-19 Pandemic and Sectoral Output in Sub-Saharan Africa: The Role of Information and Communications Technology
Olaoye Olumide O. and Zerihun Mulatu F. 69
Effect of Climate Change, Damage to Environment and Human Development Index on Economic Growth in Nigeria
Sarbjit Singh Oberoi and Sayan Banerjee 91
This study investigated the relationship between climatic change, damage to nature, human development and economic growth in Nigeria. The data were collected from secondary sources, mainly the Central Bank of Nigeria's Statistical Bulletin, Word Development Indicator, and the National Bureau of Statistics, Nigeria. The authors undertook data analysis to establish a relationship between these factors using multiple regression and the Cobb Douglas test. The analysis proved that climate change has imposed many constraints that have hindered human development and consequently severely impacted Nigeria's environment and economic growth. The study recommended continual intervention of the governments, international development agencies, and non-governmental organisations (NGOs) in formulating policies and implementing sustainable practices that will minimize the negative consequences on human capital development and improve economic growth in Nigeria with negligible environmental damage. Keywords: Climate change, Damage to human development, Economic growth, Nigeria.
The Impact of the Exchange Rate, Inflation, and Interest Rate on the South African Benchmark Stock Market Index under Different Monetary Policy Regimes
Oliver Takawira and Kudakwashe Zvitarise Javangwe109
Differential Impact of Interest Rate Regimes on Savings in Nigeria: New Empirical Evidence
Bernard Olagboyega Muse145
Transfer Pricing and Financial Performance of Listed Multinational Manufacturing Companies in Nigeria
Niyi Solomon Awotomilusi, Israel Seriki Akinadewo, Akinwumi Olusegun Akinola ,Oluyinka Isaiah Oluwagbade, Dare Ezekiel Olipede and Olusola Esther Igbekoyi 165
The question of the efficiency of transfer pricing in contributing to the economic success of the multinational firms in Nigeria motivated this study. The primary purpose of this study was to investigate the influence of transfer pricing on the financial performance of listed multinational manufacturing companies in Nigeria. The study utilised 12 international manufacturing companies listed on the Nigerian Exchange Group between 2013 and 2022, using an ex post facto research design and census sampling method. The panel data regression random effect analysis was adopted. Findings revealed that board size had a significant negative impact on return on assets; board independence showed an insignificant positive relationship with ROA; related party transactions disclosed a significant positive association with ROA. Nonetheless, board size showed an insignificant negative impact on Tobin's Q; board independence still presented a significant positive relationship with Tobin's Q; related party transactions indicated an immaterial negative association with firm value. However, the study concluded that the overall results showed that transfer pricing mechanisms significantly influence the financial performance of the listed companies. The study, therefore, recommended that managements of multinational firms strictly utilise transfer pricing to fulfil the financial requirements of their entities to enhance corporate economic growth.
Keywords: Financial performance, Listed multinational manufacturing companies, Nigeria, Transfer pricing.
Institutional Quality and Economic Growth: Evidence from Morocco
Ritahi Oussama and Echaoui Abdellah193
Growth Impact of External Debt in South Africa: Application of Linear and Non-linear Analyses
Ebenezer Olamide, Andrew Maredza, Teboho Mosikari and Solomon Okunade221
Zouhair Dahani and Ahmed Bousselhami 249
Impact of Producer Prices on Manufacturing Productivity in the Era of Pre- and During-Inflation Targeting in South Africa
Shelter Thelile Nene and Lindokuhle Talent Zungu 273
Financial Literacy, Financial Access, and Small Business Performance in Secondi-Takoradi Metropolis of Ghana: The Mediating Effect of Financial Capability
Thomas Appiah and Veronica Venyo Agblewornu 299
Even though studies have been conducted in the field of finance to examine the impact of financial literacy on small business performance, there is a lack of clarity regarding the specific mechanisms through which this influence is achieved. This paper seeks to address this gap by investigating the mediating role of financial capability in the relationship between financial literacy and small business performance in the Sekondi-Takoradi Metropolis of Ghana. The study utilizes structural equation modelling (SEM) techniques and employs Smart-PLS 3 software to test the proposed hypotheses. The empirical findings reveal that the association between financial literacy and small and medium sized enterprise (SME) performance is not direct but rather mediated by financial capability. Furthermore, the results indicate that the financial capability of SME owners/managers has a significant impact on their firm's performance. Additionally, the findings support the mediation model, as financial capability also acts as an important mechanism through which financial access influences SME performance. Policymakers, SME operators, and other stakeholders should prioritize the key areas identified by these findings to enhance small business performance in Ghana.
Keywords: Financial Literacy, Financial Capability, SMEs, Performance
Crisis Management Teams and Financial Performance of State and Privately Owned Enterprises in Ghana
Richard Selase Agboga and Erasmus Yaw Afriyie 323
Influence of Green Innovation on Environmental Performance of Floriculture Firms, Kenya
Joan Karambu Muketha, Jesse Kinyua Maina, Duncan Mugambi Njeru and Zippy Mukami Njagi 345
Branding: The Panacea for Patronage of Pharmaceutical Drugs among Patients in Calabar, Cross River State, Nigeria
Maurice Sunday Ezekiel,Joseph Amaechi Anyadighibe, William Smart Inyang,Samuel Etim Ndem,Monica Peter Lebo, Joshua Lane Kajang,Charles Effiong,Hodo Anna Eko and Nneoyi Nnana Arikpo 367
Digital transformation in retailing and post-Covid-19 pandemic recovery prospects of the retail sector
Ephrem (EH) Redda383
Change Management Strategies and Organisational Productivity at Tertiary Institutions in Nigeria
G. J. Pepple, R. O. Enuoh, J. I. Otalor, S. I. Ene and G. E. Oben-Etchi M. A. Omosebi407
Modelling Selected Internal Factors Influencing Tourism-related Entrepreneurship Business Success in South Africa
Sibusiso D. Ntshangase, Ikechukwu O. Ezeuduji and Musa A. Ayanwale431
Organisational Spirituality and Work Engagement: The Mediating Role of Thriving at Work
Freda van der Walt457
The Effect of Perceived Organisational Justice on Organisational Citizenship Behaviour through Leader Member Exchange: Evidence from Ethiopian Public Universities Context
Birhanu Moltot Ayalew and Nidhi Walia503
The Application of Strategic Planning in SMEs: A Southern Africa Perspective
Jabulani Dhlamini 519
The Effect of Green Transformational Leadership on the Performance of Manufacturing Smes in Ghana: The Moderating Role of Green Creativity
Albert Tchey Agbenyegah, Patience Ama Nyantakyiwaa Boahen and Samuel Ofosu-Appiah527
This study assesses the effect of green transformational leadership on green corporate performance among manufacturing SMEs in three major regions of Ghana. The study adopted an explanatory and quantitative research approach and design to gather relevant information. The study purposively sent out 300 questionnaires to the owner-managers of manufacturing SMEs across three major regions in Ghana, using emails and hard copies. Of the completed questionnaires, 69% (207) were certified acceptable. Regression analysis was used to test the study data. The results revealed that green transformational leadership had a positive and significant effect on green corporate performance. The study found that green creativity significantly affects green corporate performance. Also, there is an interactive effect between green creativity, green transformational leadership, and green corporate performance
Keywords: Green Corporate Performance; Green Creativity; Green Transformational Leadership; Manufacturing Smes
[abstract]
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