Ekom Etim Akpan
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Financial literacy and business performance among female micro-entrepreneurs
Ndaghu Julius Tumba , Vincent A. Onodugo , Ekom Etim Akpan , Gbenga Festus Babarinde doi: http://dx.doi.org/10.21511/imfi.19(1).2022.12Investment Management and Financial Innovations Volume 19, 2022 Issue #1 pp. 156-167
Views: 1250 Downloads: 1053 TO CITE АНОТАЦІЯThe poor performance of female entrepreneurs, exemplified in their inability to realize their full potential and compete fairly with their male counterparts owing to financial illiteracy, motivated this study. Therefore, this study examined the effect of financial literacy on business performance among female micro-entrepreneurs. Using the survey research design, data were collected from 247 female entrepreneurs from six states in the North-Eastern region of Nigeria. The hypotheses developed for the study were tested using path modeling-structural equation modeling with the aid of SmartPLS software version 3.2.7. The result revealed that all proxies of financial literacy (financial education, cash forecasting, and bookkeeping have significant effects on business performance of female entrepreneurs. Additionally, the paper revealed that financial education contributed more to the variance in business performance of the female micro-entrepreneurs, this was followed by bookkeeping practices, while cash-forecasting has the least effect on the variance in business performance. This implies that financial education is essential for the success of female micro-entrepreneurs. Thus, this study advocates the need for continuing trainings and workshops for female micro-entrepreneurs on financial concepts such as bookkeeping, cash forecasting, and market volatilities.
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Investment in tangible non-current assets and financial performance of food manufacturing firms in Nigeria
Marian Mukosolu Okobo , Robinson Onuoha Ugwoke , Ekom Etim Akpan doi: http://dx.doi.org/10.21511/imfi.19(3).2022.30Investment Management and Financial Innovations Volume 19, 2022 Issue #3 pp. 360-372
Views: 528 Downloads: 176 TO CITE АНОТАЦІЯNigeria has a serious food crisis, which can be attributed to poor management of tangible non-current assets by food manufacturing companies, which leads to low productivity, product wastages, and ineffective processing and distribution of products culminating in low return on assets. Therefore, this study examined the effects of changes in tangible non-current assets on return on assets of food manufacturing firms in Nigeria. The study employed an ex-post facto research approach with data obtained from top food manufacturing companies quoted on the Nigerian Stock Exchange from 2008 to 2020. The finding revealed that tangible non-current assets play a very important role in the return on assets of food manufacturing companies in Nigeria. Specifically, the study revealed that changes in investment in land and buildings, plants and machineries and motor vehicles have a statistically significant influence on return on assets (ROA) of quoted food manufacturing companies (FMCs). It was concluded that an increase in tangible non-current assets enhances the return of assets of food manufacturing companies. In line with the findings of this study, it was recommended that considerable attention should be paid by the management of FMCs to efficient utilization of tangible non-current assets because it is only when non-current assets are efficiently utilized that they would have significant contributions to or implications for the return on assets of the business.
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