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Abstract - Improving the Competitiveness of Nigerian Deposit Money Banks through Business Process Re-Engineering
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Abstract: This work sought to determine the impact of business process re-engineering on the competitiveness of deposit money banks in Nigeria. The specific objectives assessed the nature of the relationship between corporate restructuring and competitive advantage, whilst examining the extent and nature of the relationship between innovative rethinking and market share, and establishing key barriers to business process re-engineering in money deposit banks in Nigeria. The study comprised a population of 17977, which included staff at both junior and senior levels of the deposit money banks in the North Central Zone of Nigeria. The study used a sample size of 504 respondents, which was derived from the population, using the Freund and Williams Sampling formula. Hypotheses testing was conducted by using the Pearson Product Moment Correlation Coefficient for hypotheses one and two, and the Z-test for hypothesis three. The findings revealed that corporate restructuring and competitive advantage had a positive relationship; there was a significant positive relationship between innovative rethinking and market share; and resistance to change and poor project management were key barriers to business process re-engineering in money deposit banks in North Central.Based on the findings, we conclude that properly implemented business process re-engineering is a strategy, which is required to improve banks’ competitiveness and to gain competitive advantage, whilst leveraging on the economies of scale. It is recommended that management teams that are restructuring their operations should not merely do so because their business is failing and hence needs restructuring, but should instead do so to improve their competitiveness and financial standing. Keywords: Business process re-engineering, Competitiveness, Restructuring, Quantum leap. |
Abstract - Why do Generation Y’s Share Viral Advertisements? Implications for the Sustainability of a Business
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Abstract: In the past few years, social networks have become one of the most popular communication platforms for both individuals and businesses. Generation Y consumers tend to spend a significant amount of their time on social networks. Hence, they are known as digital natives. Through social networks, generation Y consumers are empowered to share business or brands’ advertisements with their friends. Therefore, helping businesses to attract more customers and grow. As such, the purpose of this study is to determine the motivation behind the sharing of online adverts among friends on social networks by generation Y consumers. Focus group interviews were used to collect data from 83 participants. All interviews were documented and transcribed while analysis was based on themes. The findings reveal that individuals prefer sharing advertisements they consider informative and entertaining. The results also indicate that individuals are influenced by egocentric motives such as gaining status by being the first person to share the ad. The mood of the individual when receiving the ad also plays a role in sharing of viral adverts. Lastly, individuals enjoy sharing advertisement from reputable advertisers. The recommendations, managerial implications and limitations of the study have been outlined. Keywords: Viral advertisement, social media networks, generation Y, e-word-of-mouth. |
Abstract - Stability of Money Demand in the Russian Economy after the Global Financial Crisis of 2008-2009
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Abstract: Existence of a favorable socioeconomic climate is now considered as a key factor of the long-term economic growth of a country. This is specifically true for the emerging economies in the modern global economic environment. For the Russian economy which has been facing economic sanctions from the part of Western countries, creation and maintaining of such climate is a crucial issue of survival. From this perspective, the efforts applied by the Bank of Russia and the Russian government were aimed at stabilization of the economy and creation of an attractive economic environment in the country. This paper studies the conditions under which this policy was carried out in 2011-2017. This study specifically focuses on one of the key aspects of success of such policy – stability of the money-demand function (MDF) in the Russian economy. The presence of such stability is studied using the cointegration analysis, and the type of relationship between national income and money demand is also identified. The findings of this research speak in favor of existence of a stable MDF in the Russian economy of that time. Thus, based on the Russian case, the paper’s contribution is empirical demonstration of the importance of MDF stability for success of monetary policy which is in line with the extant literature. Keywords: Money-demand function, socio-economic climate, inflation targeting, cointegration analysis. |
Abstract - Private Sector Lending and Growth of the Real Sectors in a Developing Economy: An Ardl Approach
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Abstract: In this paper, we focused on the growth of the economy looking at the impact of Bank lending. The study disaggregated growth into agricultural sector, manufacturing sector and growth in commerce. Volume of Bank credit represents the major regressor with Growth of Agriculture (GAPI), manufacturing (GDPI), commerce (GDPT) as well as overall economic growth, all serving as dependent variables. The results reveal a significant positive link amongst growth of agriculture, manufacturing and commerce with volume of bank credit while overall growth is positive but non-significant. Based on the results, evidence of a convergence long-run equilibrium for the LGDPA, LGDPC and LGDPM models was established. The fastest of them all is that of LGDPA, which stands at 36%, followed respectively by 34% for LGDPM and 23% for LGDPC. It is therefore recommended that the government should evolve policies that will not only improve on the overall growth of the economy but also ensure a balanced growth through due contributions from all the sectors of the economy. Moreover, efficient policies should be made in the areas of improved macroeconomic and regulatory environment, which would make the economy move from its present focus on oil to a more inclusive one that focuses more on agriculture, manufacturing and commerce. Keywords: Bank Credit, Economic Growth, Real Sector, Nigerian Economy, Autoregressibe Distributed Lag Model (ARDL), Error Correction Model, Bound Test. |
Abstract - Why do Family Firms Pay Cash Dividends in Emerging Markets? Corporate Control and Family Succession in Korea
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Abstract: Following the economic crisis in 1997, the Korean government introduced the enhanced corporate governance and reform policy, which drove family-controlled firms to search strategic reaction for control succession and wealth transfer. This paper explores alternative explanations for why Korean firms choose to pay cash dividends around this corporate reform period. What lead firms to pay cash dividends remains largely unexplained by the reducing agency cost, signaling, or life-cycle theories. This study focuses on relations between the ownership structure and cash dividends payout, seeking effects deriving from (i) controlling shareholder (CS) and (ii) their family members. The logit analysis result shows that firms with large control rights, especially higher ownership of other family members of CS are more likely to pay cash dividends. After adjusting for the characteristics that affect the degree of cash dividends, ownership variables are positively related to payout ratios and dividend yields. CS family members’ ownership has a statistically stronger effect on payout ratios than CS’s. These results provide the evidence of incentive for corporate control succession within the family with least costs carried by the family members of controlling shareholders who positively influence payout decisions and dividend ratios. Keywords: Corporate Payout, Dividend, Corporate Control, Family Firm, Ownership Structure, Succession. |