International Journal of Academic Research in Business and Social Sciences

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Volume 7, Issue 1 (Jan, 2017)

Fiscal Policy-Economic Growth Correlates: Further Evidence from Nigeria Economy
Author(s): Nwankwo, Damian J, Kalu, Chris U., Chiekezie, Mary. O      Pages: [1-11]
Abstract

The study investigated the impact of fiscal policy on economic growth in Nigeria from the period of 1970 to 2014. The data used was sourced from Central Bank of Nigeria Statistical Bulletin of various issues and World Bank Development Indicator (WDI) and the Co-integration and Error Correction (ECM) approaches were utilized in analyzing the data. The result of the unit root test shows that government capital expenditure, oil revenue, gross domestic product and tax revenue are stationary at first difference I(1), while government recurrent expenditure is stationary at levels at levels I(0). The co-integration result shows that there are 3 co integrating equations at 5 per cent level of significance. This shows that there exist a long-run relationship between fiscal policy and economic growth. The estimated ECM has the required negative sign of -0.447 (45%) and lies within the accepted region of less than unity although, government capital and recurrent expenditures at lagged two years was found insignificant and therefore has no impact on economic growth. Based on the findings from the empirical analysis, the study recommends among others, the need for the Nigerian government to invest in productive investment through increase in capital expenditure over and above recurrent expenditure to stimulate economic growth.

Keywords

Fiscal policy, Economic Growth, Co-Integration, Vector Autoregressive, Nigeria.

Full Text :PDF DOI: 10.6007/IJARBSS/v7-i1/2549
Inflation Targeting and Economic Growth Nexus in Nigeria: Implications for Monetary Policy
Author(s): Ewurum, Ngozi, C, Kalu, Chris U, Nwankwo, Damian. J.      Pages: [12-27]
Abstract

The study examined inflation targeting –economic growth nexus in Nigeria, with the aim of imbibing the useful lessons and avoiding the pitfalls from cross-country experiences. The study employed descriptive approach to the study with data sourced from the Central Bank of Nigeria Statistical Bulletin of various issues. Previous study was also consulted to enrich the work. The most salient observations from the study include first: all the countries that adopted inflation targeting recorded a reduced inflation figure and improved economic growth after adopting inflation targeting than before the adoption. Second, Nigeria is absent from the list of countries that have adopted inflation targeting as a monetary policy framework, while South Africa and Ghana are the only countries in Africa that have adopted inflation targeting. Based on the observations some recommendations were made, mostly the need for the monetary authorities in Nigeria to adopt and implement fully the framework considering the harmful and suicidal effect of inflation on economic growth and investment on the economy.

Keywords

Inflation Targeting, Economic Growth, Trends, Nigeria

Full Text :PDF DOI: 10.6007/IJARBSS/v7-i1/2550
Incubatee Selection Criteria and its Role on Entrepreneurship Growth: A Survey of University Based Business Incubators in Kenya
Author(s): Kevin Wachira, Patrick Ngugi, Romanus Odhiambo Otieno      Pages: [28-38]
Abstract

The importance of entrepreneurship growth around the globe has been well recognized and documented by many scholars. For instance, some scholars have reported that the potential contribution of entrepreneurship growth to employment and income has been generally recognized. Entrepreneurs are widely recognized as the prime movers of economic development; the people who translate ideas into action. The government of Kenya has initiated numerous programs and policies to support entrepreneurship growth in Kenya. For instance, it has undertaken policy reviews that have led to reduction of the required licenses to start and operate a business. It has initiated several monetary funds to assist entrepreneurs, particularly youth and women, obtain financing for their enterprises i.e. the Youth Enterprise Fund, Women Enterprise Fund and Uwezo Fund. Private sector players such as commercial Banks, Non-Governmental Organizations (NGOs), Microfinance Institutions (MFIs) and Savings and Credit Co-operatives Societies (SACCOs) among others have also come up with formal financial support schemes for entrepreneurs. However the start- up failure rate is still very high and the desired growth levels are yet to be achieved. Consequently some scholars and policy makers have turned to business incubators and particularly university based business incubators as a possible boost to entrepreneurship growth through nurturing start-ups. A major area in the operation of an incubator is the selection criteria used to admit incubatees. This study aimed to find out the role of selection criteria into university based business incubators on entrepreneurship growth in Kenya. The six active university based business incubators in Kenya were investigated with a specific focus on all the fifty nine graduated incubatees from the said incubators. Census technique was used given that the total number of all graduated incubatees (59) could be adequately studied. The study used a semi structured questionnaire as the main tool of data collection. A combination of tools was used to analyze the data because whereas some aspects of the study were qualitative others were of a quantitative nature. Quantitative data was analyzed using Statistical Package for Social Sciences (SPSS) Version 21 software through descriptive statistics; measures of central tendency (mean and mode), measures of dispersion (standard deviation and variance) and inferential statistics. Thematic analysis was used for qualitative data. The study found out that the kind of selection criteria used by a university based business incubator has a significance impact (79.6%) on entrepreneurship growth. The study recommends among others, that the government through the Ministry of Education, and management of individual universities set up more university based business incubators given the positive potential effect they have on entrepreneurship growth. University based business incubators should continuously enrich their selection criteria in order to attract and incubate only the very potential incubatees. Further studies could be conducted on the role of selection criteria into other kinds business incubators – those not based in universities- on entrepreneurship growth

Keywords

Business Incubation, Incubatee selection criteria, University Based Business Incubators

Full Text :PDF DOI: 10.6007/IJARBSS/v7-i1/2553
Abstract

Sunflower oil is the most preferred liquid vegetable oil by consumers in Turkey. The purpose of this study is to reveal the order of important attributes, affecting sunflower oil preference, namely brand, production method, country of origin and price. Different levels were defined for the attributes such as manufacturer and cooperative levels for brand, organic and conventional levels for production method, domestic and foreign levels for country of origin and ?21, ?26, ?32 levels for price attribute. The data obtained from face to face interview with 211 consumers selected through convenience sampling method were evaluated by conjoint analysis. The preference order of these four attributes and their levels are listed as follows: domestic origin, price of ?21 for 5 litre, organic production and manufacturer brand. Although the topic is very important, sunflower oil in term of marketing concept has not been studied sufficiently. This study is expected to present a point of view to differentiate products to the players in the sector living in an intense competition.

Keywords

Sunflower oil, Consumer preference, Conjoint analysis

Full Text :PDF DOI: 10.6007/IJARBSS/v7-i1/2557
Forms of Matrix Language + Embedded Language Formula in Code Switching instances
Author(s): Kanyi Charles Mugo, Nancy Anashia Ongo’nda      Pages: [61-71]
Abstract

This paper presents on the forms of Matrix Language and Embedded Language in Code Switching within a multilingual society, that is, Mwea East Sub-County, Kirinyaga County Kenya where eight languages are spoken. Information for the survey was collected using questionnaire sets distributed to 300 multilingual participants, who completed them. Audio tapes were also used to capture the code switching conversation in a natural setting. The data were examined within the sketch of Myers-Scotton’s Matrix Language Framework that is applicable in the identification of Matrix and Embedded language. The result of the investigation established that Code switching structures are systematic and not chaotic. This study hopes to provide insights on the code-switching phenomenon in a multilingual society. Additionally, the findings of this study will be of value for the development of code-switching studies in the structural area.

Keywords

Code Switching, Matrix Language, Embedded Language, Multilingualism

Full Text :PDF DOI: 10.6007/IJARBSS/v7-i1/2572
Relationship between Pre-Retirement Anxiety and Knowledge Sharing Intentions in State Corporation in Kenya
Author(s): Appolonius Shitiabai Kembu, Iravo Mike Amuhaya, Wario Guyo      Pages: [72-80]
Abstract

Managing knowledge of the aging workforce is a major challenge, particularly to state corporations in Kenya. Psychological effects of disengagement from a work life and the transition to retirement may influence knowledge sharing intensions. The objective of the study was to examine the relationship between employee pre-retirement anxiety and knowledge sharing intentions in state corporations in Kenya listed in the Kenya Gazette. The study used exploratory design. The population of the study comprised of all 202 State Corporations in Kenya. The study used purposive sampling to obtain data from the population through a questionnaire. The study targeted employees 10 years to retirement. Quantitative data was used to enable the researcher conduct an in-depth study. The study carried out a pilot test to test the validity and reliability of the questionnaires in gathering the data required for purposes of the study. Simple linear regression and multiple regression analyses was used to establish the nature and magnitude of the relationship between variables and to test hypothesized relationships. The study established that pre-retirement anxiety enhanced knowledge sharing intentions in State Corporations in Kenya. It further found that the relationship was stronger where corporations were based in the same industry and weaker when they were across industries. These research findings contribute by extending the frontiers of knowledge by linking pre-retirement anxiety and knowledge sharing intentions into a conceptual framework which was empirically tested. The study findings provide useful information on the essence of employee Pre-retirement anxiety for managers to make more informed decisions.

Keywords

Pre-retirement anxiety, Knowledge Sharing, Intentions

Full Text :PDF DOI: 10.6007/IJARBSS/v7-i1/2563
Atomic Particle and Organization Dynamics
Author(s): Shaoping Qiu      Pages: [81-94]
Abstract

In this paper, the atomic particle in physics world is utilized to compare with the social organization dynamics. Although a definitive conclusion is hard to arrive at, some emerging illuminating insights can be derived with respect to the similarities between their properties of the atomic particle and the social organization. Based on these comparisons, issues such as organizational structure, group cohesion, employee empowerment, homogeneity and size of the group, and organizational culture are discussed. The implications derived offer a new lens for both organization scholars and managers to think about the real issues in organization dynamics.

Keywords

Organization Dynamics, Subatomic Particles, Group Cohesion, Organization Culture

Full Text :PDF DOI: 10.6007/IJARBSS/v7-i1/2565
Analysis of Role of Educational Institutions in Development of Entrepreneurs (A Case Study of Karachi)
Author(s): Ammad Zafar, Khalid Iraqi, Sadaf Mustafa      Pages: [95-110]
Abstract

It is fact that education enables people to work in more efficient way. It increases knowledge skills and abilities of individual and qualifies them to reach desired destination. Among many disciplines of education, business education is more important for developing countries. It inculcates competencies and skills to individuals and make them able to run and setup new business venture. It is an important factor for increasing employment opportunities and hastening the pace of economic growth of the country. Educational institutions play important role in building capacity of young entrepreneur by providing quality entrepreneur education to them. Study reveals educated people are more interested in running their own business. It also finds only 9.3% young people are running their own business about 46.5% young people received entrepreneurship education from business schools are running their business in contrast to 30.9% young people who did not attend business education. Study examines the role of educational institutions in development of young entrepreneurs. This Study is based on data collected during megacity project survey 2015-16, conducted in Karachi. During survey 2,689 young people of ages between 15-29 were interviewed.

Keywords

Educational institution, Young entrepreneur, Entrepreneur education, Economic growth

Full Text :PDF DOI: 10.6007/IJARBSS/v7-i1/2573
Development Decisions for Kiribati
Author(s): Brandon Walcutt      Pages: [111-117]
Abstract

This teaching case pertains to the spending and development decisions that must be made concerning the disposition of a sizable fictional grant that has been provided to the Republic of Kiribati. The overall objective of the case is to provide students with the opportunity to apply their knowledge of international development, business and macroeconomics to determine a strategic direction for an economically challenged island nation in the Central Pacific. The case is oriented towards upper-level undergraduate or graduate level students in a discipline relating to international development, policy or business and can be taught within a one hour class with little or no outside student preparation.

Keywords

International Development, Kiribati, Government Policy Decisions, Strategic Government Goal Setting, Central Pacific Economic Development

Full Text :PDF DOI: 10.6007/IJARBSS/v7-i1/2578
Abstract

This paper centers on the social motivations factors that determine the Matrix Language Concept in Code Switching within the social contact of language in a multilingual society, that is, Mwea East Sub-County, Kirinyaga County Kenya where eight languages are spoken. Information for the survey was collected using questionnaire sets distributed to 300 multilingual participants, who completed them. Audio tapes were also used to describe the patterns and the Linguistic motivation of CS phenomena in language varieties. The data were examined within the sketch of Myers-Scotton’s Markedness Model that deals with social motivations for Code Switching. The result of the investigation established that alternating between two languages is a discourse strategy use by bilinguals and multilinguals to communicate effectively, which is mostly influenced by certain social variables and morphosyntactic structures of the languages. This study hopes to provide insights on the code-switching phenomenon in a multilingual society. Additionally, the findings of this study will be of value for the development of code-switching studies in the sociolinguistic area.

Keywords

Code Switching, Social Motivations, Matrix Language, Multilingualism

Full Text :PDF DOI: 10.6007/IJARBSS/v7-i1/2579
A Theoretical Approach to Factors Effecting New Product Development
Author(s): Yakup DURMAZ, Necdet EROL, Vildan DOGAN      Pages: [130-140]
Abstract

In our modern age that is having a quite fast and dizzy economic and social alteration and progress, witnessing a new technological product each and every day, and in which the expectations of consumers are getting higher and higher; enterprises have to be successful and sometimes manage to survive. Shortening life span of a product and the fact that consumers ask for a higher quality and a richer variety than past times maket he job of enterprises more difficult.Therefore, in order to be a successful business enterprise which is keeping its place in business world, it has been an obligation to put forward the products that have the expected qualifications by the consumers into the market on the right time without having a lack of quality.

Keywords

Developing New Product, New Concept Development, Process of New Product Development, Product Life Span.

Full Text :PDF DOI: 10.6007/IJARBSS/v7-i1/2580
Abstract

This study sought to identify whether career progression has an effect on labor mobility intentions of teaching personnel in Teachers Service Commission (TSC) Tertiary Institutions in Kenya. The limitation was that one factor was researched on hence not fully representative. Beneficiaries were government, other scholars, TSC and school managers. This study adopted descriptive research design. The target population was from all the TSC teachers in the TSC Tertiary institutions in Kenya. The study did stratified random sampling of institutions, 356 sample size was used. Questionnaires collected data. A pilot study of 36questionnaires was done to determine reliability and validity which was verified when all variables had a Cronbach Alpha of 0.7 and above while the content validity of the instrument was determined by seeking credible opinion of the study supervisors. Descriptive and inferential statistics were used and reporting was done through tables and figures. The response rate was 80%. The results revealed a significant negative relationship between career progression and labour mobility intentions.. It also recommended that Kenyan government addresses some of the issues highlighted to ensure a motivated workforce to attract and retain more teaching personnel who will stay and not leave. The study encourages scholars to use same variable or more to test results in different sectors.

Keywords

Career progression, Labour mobility intentions, Teacher Service Commission (TSC), Tertiary institutions

Full Text :PDF DOI: 10.6007/IJARBSS/v7-i1/2583
EU Enlargement and Financial Crisis
Author(s): Jana Ilieva, Aleksandar Dashtevski, Natasha Ristovska      Pages: [153-163]
Abstract

The global economy faced a financial crisis involving banking systems, stock markets and the credit flow. Seeking common strategies to solve the difficulties, European institutions coordinated national responses and made recommendations to improve the financial system. European leaders have defined a common approach for restoring confidence in the financial industry and preserving economic growth. The reform was “all-encompassing” and included more international supervision to ensure transparency and accountability. EU enlargement is not officially connected with the crises so the stopping of the enlargement process and introducing new barriers in Europe is not an option. In this paper the analyzis is maderding to the data and situations noted in the European commission report. The split interests and objections for further enlargement in the member states, such as France and German are interpreted as well. Research analyzis shows that EU the candidate countries have progression in economic growth in the time of the financial crisis which is not case with some of the EU member states. Therefore, EU enlargement should continue as important policy that will ensure prosperity in Europe.

Keywords

European Union, Copenhagen Criteria, Member-States, Candidates

Full Text :PDF DOI: 10.6007/IJARBSS/v7-i1/2585