South Asian Journal of Social Studies and Economics

Cash Flow Management and Firm Performance: Moderating Effect of Corporate Governance Mechanism in the Era of Disruption in Emerging Economy

2023-11-08T07:58:04+00:00

The moderating effect of corporate governance mechanism on the relationship between cash flow management and performance of listed manufacturing firms in the era of disruption in Nigeria was empirically investigated in this study. Operating, financing, and investing activities were used as proxies for cash flow management. Net assets per share (NAPS) was used to measure firm performance while board independence was used as a proxy for the corporate governance mechanism (moderating variable). Panel least squares regression model operated with E-View 12 was utilized to perform the statistical test of parameter estimates, and six hypotheses were formulated to direct the investigation. Ex Post Facto design was used, and the data for the study was collected from the published annual financial reports and accounts of companies listed on the Nigerian Exchange Group (NGX) under the consumer goods sector, industrial goods sector, and oil and gas sector. The results of the study show that operating activities (OA) significantly affect firm performance (NAPS) at 5% significant level. Furthermore, it was discovered that, at 1% significant level, financing activities (FA) has a positive and significant effect on firm performance, whereas investing activities (FA) has the same effect on firm performance in Nigeria. Also, it was noted that, at 1-5% significant level, corporate governance mechanism (board independence) moderated the effect of cash flow management on firm performance in Nigeria. Thus, the study concludes that in this disruptive era in Nigeria, firms’ performance is determined by their ability to manage their cash flow effectively. Moreover, strong corporate governance practices ensure the success of the company. In light of the study's findings, the study recommends that businesses should review their approaches to managing cash flow so that they can produce enough cash to cover both their operating and investing needs. On the other hand, net cash flow from financing activities ought to be preserved because it has a substantial impact on the financial results of the Nigerian listed companies.

The Effect of Digital Currency on Monetary Policy in Tanzania: An Empirical Investigation

2023-11-14T12:21:47+00:00

This study investigates the effects of digital currency on monetary policy in Tanzania., The main variables of the study included BTC and MBT as the independent variables and M3 as a dependent variable. The quantitative methodology used involved the applications of econometrics analysis as the estimation methods. The quarterly time series data (2014q1 – 2021q4) used were obtained from both the Bank of Tanzania, the Tanzania National Bureau of Statistics and the online data from www.blockchain.com. The main variables of the study included BTC and MBT as the independent variables and M3 as a dependent variable. The Vector Error Correction Model (VECM) was used to estimate the empirical regression model, while STATA software 14 was used to analyse the data. The results indicate of the VECM indicated that there was a significant negative relationship between BTC and M3 variables on the one the one hand, and a significant positive relationship between MBT and M3 variables in Tanzania. The study concluded that there was a significant effect of the digital currency on monetary policy in the country. The study recommended that the government should education the people on how the digital currency operates, it should strengthen monetary policy practices, and try to learn from others countries that use the digital currency. This would help the country to officially allow or reject the use of digital currency in the country.

Public Spending and Economic Growth in Nigeria: Assessing Recurrent Expenditure’s Neutrality and Monetary Policy Interaction

2023-11-14T12:28:15+00:00

In this study, we explored the influence of public spending on economic growth in Nigeria by testing the neutrality/non-neutrality of recurrent expenditure, as well as checking for the effect of interaction of the two expenditure components with monetary policy (interest rate) to see how they would influence economic growth. Data which covers the period 1981 to 2021 were analyzed using the technique of Autoregressive Distributed Lag (ARDL) model which was selected based on the fact that our variables were stationary at mixed order of levels and first difference. From the ARDL bounds test, the study revealed that there is a long-run relationship among the variables in the model which prompts the estimation of the error correction model. From the result, the findings suggest that recurrent expenditure exerts a positive and significant effect on economic growth, thereby signifying the non-neutrality of the recurrent expenditure component on economic growth. Further, the interactive terms indicates that an interaction of recurrent expenditure and interest rate on economic growth generated a negative effect though its one-period lag yields a positive and significant effect. Also, the long-run result indicates that recurrent expenditure yielded a positive but insignificant effect, thereby indicating the validity of the recurrent expenditure in the long-run. This is further confirmed as it exerted a negative but insignificant effect on economic growth when interacted with monetary policy. The policy implication of the findings centres on the fact that recurrent expenditure can only be non-neutral in influencing the macroeconomy just in the short-run.

The Socio-cultural Determinants of Child Labour in Tanzania

2023-11-17T11:44:10+00:00

The purpose of the study was to examine the socio-cultural determinants of child labour in small scale gold mining in Tanzania. Specifically, the study examined polygamy, early marriage and family conflict among the respondents which influence child labour practices in small scale gold mining (SSGM) in Geita region. Furthermore, the study used the case of Nyang’hwale district which is one of the districts in Geita region where SSGM activities are rampant compared to the rest of the districts. The study used a cross-sectional survey researches design. The primary data were collected by using questionnaires from 209 individuals who were randomly sampled from Nyang’hwale district in Geita region. Moreover, the study applied a newly developed method of measuring the age risk of children working under 18 years known as Eta Value. The researcher analyzed the data using the Structural Equation Modeling Partial Least Square (SEM PLS) with a combination of analytic techniques - statistics and artificial intelligence software. The study found that the child labour determinants under socio-cultural factors were polygamy, early marriage and family conflict. Moreover, the researcher found that micro-sociology focuses on the individual's micro aspects – polygamy, early marriage and family conflicts which are socio-cultural oriented. The study concludes that the fundamental sociocultural determinants are polygamy, early marriage and family conflict. Therefore the study recommends that the polygamy, early marriage and family conflict are significant sociocultural factors that contribute to the child labour practices in Geita.

Foreign Exchange Pressure and Foreign Exchange Intervention in Nigeria: A Review of Literature

2023-11-11T13:44:56+00:00

This paper conducts a comprehensive examination of the concepts of foreign exchange pressure and foreign exchange intervention within the Nigerian foreign exchange market. It delves into the theoretical foundations and empirical evidence underpinning these crucial elements of economic policy in Nigeria. To begin, the paper elucidates the various factors driving foreign exchange pressure in the Nigerian context, encompassing trade imbalances, external shocks, and economic fluctuations, which exert significant pressure on the exchange rate and foreign exchange reserves, necessitating effective strategies for policymakers and market participants. Furthermore, the paper sheds light on the theoretical frameworks and models that form the basis of foreign exchange intervention, emphasizing the substantial impact of central bank and government interventions on maintaining foreign exchange market stability, averting abrupt currency devaluations, and upholding macroeconomic equilibrium. Additionally, the paper reviews empirical literature, offering valuable insights into the practical implications of foreign exchange pressure and intervention in Nigeria, showcasing the Nigerian central bank's use of measures like capital controls, foreign exchange auctions, and exchange rate pegs. The effective management of foreign exchange pressure in Nigeria plays a pivotal role in ensuring economic stability, bolstering international trade, and fostering sustainable economic growth within the nation.

Domestic Violence and the Welfare of the Nigerian Child: An Evaluation of the Role of Child Protection Services and Law Enforcement Authorities

2023-11-22T10:33:20+00:00

This paper assesses how child protection services and law enforcement agencies deal with domestic violence and its effects, on children's welfare. It also examines the efficiency of frameworks and investigates the difficulties these institutions encounter in offering sufficient protection and assistance to children exposed to domestic violence.

Adaptation of Technology on Products and Services Related in the Banking Industry: Challenges and Solutions

2023-11-23T10:13:42+00:00

This was a qualitative business case which used decision-making case design to explore the scenario of CRDB Bank Plc in Mbeya, Tanzania city on challenges and solutions in the adaptation of technology on products and services related in the banking industry toward customer experience. The secondary data collected through a review of various documents from CRDB related to customer’s welfare and usage of technology-related banking products and services. We used specific criteria to make sure the chosen articles fit our study's focus. Moreover, the research utilized the Mixed Methods Appraisal Tools (MMAT) to appraise the quality of the selected studies in the narrative literature review. The business case employed inclusion and exclusion criteria to select relevant studies for the review. The data from these selected studies extracted and analyzed using a narrative synthesis approach. Considering the challenges on customer retention; in order to overcome this challenge, CRDB Bank may need to invest in customer education, improve on the reliability of digital infrastructure enhance customer support for digital services, and maintain a strong focus on data security. Also, aiding digital offerings to the specific needs and choices of customers in Mbeya City can help improve customer retention in the face of technological changes. It was found that, customer satisfaction in digital banking services is enhanced and led by a combination of factors related to usability, security, convenience, customer support, and transparency. To succeed in this competitive area, banks have to prioritize these factors and continuously ensure to improve the general customer experience.

Community Empowerment through Digital Marketing Optimization-Based Socio-preneurship Training

2023-11-23T13:00:37+00:00

This paper is a descriptive presentation of the results of community service activities in Lamongan Village, East Java Province, Indonesia. This activity focuses on empowering women bag artisans who are there. In total, 30 bag confectionery women are members of the Forway brand MSME Bag employees. These women still need to be fostered with more incentives, especially in product marketing, because they are currently still using traditional marketing techniques, namely relying on subscribed wholesale buyers. The service team takes a sociopreneurship approach, namely entrepreneurship, whose primary goal is not for personal profit alone but for the benefit of the wider community. So, in their activities, these bag tailors are taught to market bag products through digital marketing such as TikTok, Facebook, Instagram, Shopee, and whatsapp. With this activity, it is hoped that these bag-sewing women will not only be tailors but also be more empowered to become product marketers. In addition, the SMEs that host it are expected to get a significant increase in profit from this training activity.