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A theoretical framework on the level of risk management implementation in the Nigerian banking sector: The moderating effect of top management support

This study attempts to examine the effect of the Risk Management Committee on firm performance, and the intervening effect of the Risk Management Committee on the relationship between Corporate Governance, Firm Size, Financial Reporting Risk, and Firm Performance. Using the purposive sampling method, 299 firms were selected as the sample. This study used secondary data obtained from the companies’ annual reports, and the data was then analyze using SPSS, version 20.0. The results of this study indicate that the entire research hypothesis is accepted. This study found that the Risk Management Committee affects firm performance, and that Risk Management Committee acts as the intervening variable in the relationship between corporate Received: June, 2017 1st Revision: Sepember, 2017 Accepted: October, 2017 DOI: 10.14254/20718330.2017/10-4/21 Journal of International Studies S ci en ti fi c P a pe rs © Foundation of International Studies, 2017 © CSR, 2017 Edyanus Herman Halim, Gita Mustika, Ria Nelly Sari, Rita Anugerah, Zuraidah Mohd-Sanusi Corporate governance practices and financial performance: The mediating effect.. 273 governance, firm size, and financial reporting risk on firm performance. The existence of RMC would facilitate the company to control better the quality of financial reporting risks.

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Corporate Governance Practices and Financial Performance : the Mediating Effect of Risk Management Committee at Manufacturing Firms

The motivation of the study is to explore the nexus tourism-led sustainable human capital development (HCD) in Brazil, Russia, India, China, and South Africa (BRICS) for the period 1984–2019. The study applied several econometrical techniques for exposing the empirical association between tourism and HCD, such as the conventional and structural break unit root test, the combined cointegration test, long-run and short-run coefficients detected through implementing the Augmented Autoregressive Distributed Lagged (AARDL), and directional causality by following Toda-Yamamoto with Fourier function. The unit-roots test established variables are integrated in mixed order, wherein variables are stationary at a level or after the first difference. The estimated test statistics from the combined cointegration test and AARDL confirmed the long-run association between tourism, gross capital formation, financial development, and HCD. Tourism revealed a positive and statistically significant tie with HCD in the long run. Moreover, the joint effects of interactive terms TOR*GCF and TOR*FD (TOR, GCF, and FD denoting tourism development, gross capital formation, and financial development, respectively) established a positive and statistically significant relationship with HCD. In addition, the causality test revealed the feedback hypothesis available between tourism and HCD in all sample countries except India. In conclusion, the role of tourism development is critically important for sustainable HCD in BRICS. Therefore, in case of a policymaking concern, it is inevitable to address the tourism issues with care for capitalizing on the benefits for tourism development.

https://www.frontiersin.org/articles/10.3389/fpsyg.2022.804349/pdf

Does Tourism Induce Sustainable Human Capital Development in BRICS Through the Channel of Capital Formation and Financial Development? Evidence From Augmented ARDL With Structural Break and Fourier-TY Causality

Combating poverty through the development of agricultural production and providing rural people with new employment and income opportunities in agriculture has become one of the major concerns of both policymakers and scholars worldwide. In many developing countries, government policies have failed to achieve the desired poverty alleviation goals due to the lack of financial resources. Despite that, few comprehensive studies have so far unambiguously identified the effects of the exogenous factor of capital inflows on the level of poverty and agriculture development. In this paper, the authors attempt to shed light on the poverty–agriculture–capital trilemma pattern by revealing the impacts of different types of capital inflows on the parameters of poverty reduction and agriculture development. The panel unit root test and pool mean group estimation techniques were employed for observing the short-term and long-term linkages between dependent and explanatory variables across fourteen developing economies of Latin America, Asia, and Eastern Europe. It was revealed that poverty reduction could be positively affected by an increase in the values of agricultural exports, foreign direct investment, foreign development assistance, and remittances received from migrant workers. The level of agriculture could be improved by deeper integration of developing economies to global food supply chains as either suppliers or consumers of food and agricultural products.

https://www.mdpi.com/2071-1050/13/6/3242/pdf

The Impact of Foreign Capital Inflows on Agriculture Development and Poverty Reduction: Panel Data Analysis for Developing Countries

This study examines the impact of Enterprise Risk Management (ERM) on financial performance in the emerging market with special focus on the Nigerian financial sector. The study investigates 40 companies from the period 2012 to 2016 resulting into 200 firm observations. The method used to measure financial performance was Return on Assets (ROA) while Value at Risk (VaR) was used as a proxy for Enterprise Risk Management (ERM). The study used other control variables such as Leverage (LEV), Board Size (BSIZE), Firm Size (FSIZE), Institutional Ownership (INTOWN) and Risk Management Committee Size (RMC). The result of regression coefficient shows that VaR (0.216), BSIZE (0.218), FSIZE (0.021), INTOWN (0.001), and RMC (0.032) are statistically significant with the exception of LEV (-0.572) which shows an inverse relationship with financial performance. The empirical findings show that ERM is positively and significantly related to financial performance. The results support the hypothesis that ERM has a significant impact on the financial performance of listed firms in the Nigerian financial sector. We recommend that the regulatory authorities (Central Bank of Nigeria, Financial Reporting Council of Nigeria etc.) in charge of the financial sector should ensure that all firms in the sector adopt ERM as a matter of urgency and continue to ensure strict compliance with the ERM framework.

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Enterprise Risk Management and Financial Performance: Evidence from Emerging Market

Given the complexity of today’s business world, the process of planning, organizing, leading and controlling the activities of an organization in order to minimize the effect of risk on an organizations’ performance is very important. This involves a risk management system which expands the process to include not just risk associated with accidental losses, but also financial, strategic operating and other risk. It is against this background that our paper examined the effect of enterprise risk management on performance of firms in the brewery industry in Nigeria. The study adopted the cross section survey design and copies of questionnaire were distributed to 375 respondent comprising top and middle level management staff of three major brewing firms in Nigeria. Using Z-test statistic, we found that enterprise Risk Management enhances the performance of firms in the Brewery industry in Nigeria. The study therefore recommends that managers in the brewery industry in Nigeria should continue to adopt and implement enterprise rise management as a tool to enhance organizational performance and this should be backed by policy. Keywords: ERM, Performance; Brewery Industry; Nigeria

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Enterprise Risk Management and Performance of Nigeria’s Brewery Industry

The goal of this study is to assess the industry effects of monetary policy transmission channels in Nigeria within the period 1981-2014. Techniques of analysis employed in the study are the Johans...

https://journals.sagepub.com/doi/pdf/10.1177/2158244018769369

Monetary Policy Transmission and Industrial Sector Growth: Empirical Evidence From Nigeria:

Aid flows to developing countries is ultimately intended to help recipient countries attain sustainable development especially in the area of capital development, sustained economic growth, poverty reduction and reduced mortality rate. The justifications for increasing official aid to the poor countries of the world have constantly come under scrutiny and have generated intense debate among researchers. Against this background, this study is aimed at assessing the impact of official aid on poverty reduction in Nigeria from 1981 to 2014. The ARDL and the error correction model (ECM) were used to estimate for long-run and short-run dynamics respectively, while the Bound test was employed to test for long-run relationship between our variables of interest. Result of the Bound test showed that there exist a long-run relationship between official aid flows and poverty. Both long-run and short-run regression estimates revealed that official aid has non-significant positive impact on poverty reduction within the period. There is however strong sign of convergence toward long-run equilibrium as the speed of adjustment is significantly high. The results further showed that population growth exerted negative influence on poverty reduction both in the long and short-run whereas labour force participation was found to have relative positive impact on poverty reduction. We therefore conclude that while it is evident that official aid has positive influence on poverty reduction, the influence so established is not significant. We recommend that aid donors and international aid organizations should earmark aids for a specific needs and exhaust every prudential steps in making sure that such aid are used for the targeted aim with fact-based appraisals and implementation reports. Keywords: Official Aid, Poverty Reduction, ARDL, Bound Test

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The Impact of Official Aid on Poverty Reduction: Empirical Evidence from Nigeria (1981-2014) Using The ARDL and Bound Test Approach

Open market operation was introduced as a monetary policy tool in Nigeria in 1993. Since then, it has been extensively used in conjunction with other tools such as reserve requirement, discount window operation, and moral suasion as an instrument of price stability; however, inflation in Nigeria has not reduced to the desired single digit level on a consistent basis. It is against this background that, our paper investigated the impact of OMO as a tool for monetary policy on price stability in Nigeria from 1993-2007. Using OLS regression model, our result reveals that open market operation has positive non-significant impact on consumer price stability as proxied by inflation rate in Nigeria. Our result also reveals that there was a positive correlation between open market operation and consumer price stability of the Central Bank of Nigeria for the period, therefore remains a useful tool, hence our recommendation is that it should be used in conjunction with other relevant ones in the maintenance of price stability in Nigeria. Keywords: Open Market Operation, Price Stability, Nigeria

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Does Open Market Operations as a Monetary Policy tool have Impact on Price Stability in Nigeria

The paper investigated the effect of saving behavior and debt-service on the debt burden and its effect on some economic indicators, debt service to export, export to GDP, debt service to GDP, savings rate and income per capita of 14 West African Countries. The data from the World Bank economic indicators for the period 1985-2015 were used as models. This was analyzed using fixed and random effect regressions and houseman tests to determine the most appropriate estimator. The results revealed that the national savings of these countries should play a significant role in terms of payment of debt services and the countries' ability to reducing their total debt burden. It is also revealed that an increase in the export/GDP growth will lead to growth in the country’s economy by providing more resources to pay the national debt, both external and domestic debt. The national saving rate should aim at improving the economic growth rate through a higher saving ]rate. The paper recommends that these countries should pursue a balanced saving policy, increase the export/GDP ratio and total revenue generated for a fully sustainable reduction of total debt burden so that future generations would not inherit a huge debt burden.

/pdf/saving-behavior-and-external-debt-service-the-west-african-41lbvgn9w4.pdf

Imo G. Ibe

Papers

Enterprise Risk Management and Performance of Nigeria’s Brewery Industry

Monetary Policy Transmission and Industrial Sector Growth: Empirical Evidence From Nigeria:

The Impact of Official Aid on Poverty Reduction: Empirical Evidence from Nigeria (1981-2014) Using The ARDL and Bound Test Approach

Does Open Market Operations as a Monetary Policy tool have Impact on Price Stability in Nigeria

Saving Behavior and External Debt Service: The West African Perspective