Research Article
A Moderating Effect of Financial Performance in a Relationship Between Ownership Structure and Firm Performance of Listed Commercial Banks in Nigeria
Bugaje Shamsuddeen Yusuf*
,
James Uchenna Okpe,
Musa Musa Muhammad
Issue:
Volume 13, Issue 2, June 2024
Pages:
25-36
Received:
11 January 2024
Accepted:
1 February 2024
Published:
17 May 2024
DOI:
10.11648/j.jim.20241302.11
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Abstract: In order to better understand the moderating impacts of financial performance, this article looks at the relationship between ownership structure and firm performance of Nigerian listed commercial banks. Data on ownership structure and yearly financial reports at the firm level from 2013 to 2022 are used in the empirical analysis. Panel regression analysis methods. Block share ownership and foreign share ownership were employed in this study as independent variables, while ROA was used as a leveraged moderating effect to quantify business performance. Descriptive research and correlational research design are thus employed in this study as suitable research designs. The results indicate that around 47% of all shareholders have shares held by shareholders who possess at least 5% of the company, which is a proxy for block ownership of common shares across commercial banks in Nigeria. The foreign share ownership mean is 22.65%, with a standard deviation of 3.93%, a minimum value of 0%, and a maximum value of 1%, respectively. This indicates a sharp decline in foreign investment as a result of the unpredictability of the market and the high level of insecurity that permeates the nation. The return on assets of the commercial banks that are quoted is positively and significantly impacted by foreign ownership; a rise of one unit in the variable results in a 4.0% return on assets. At the 1% significant level, leverage mediated the association between the dependent and independent variables (FSO*LEV and BSO*LEV). The study suggested using a non-linear model to explore the hypothesis that a firm's performance could affect its ownership structure and to estimate the impact of block ownership on firms' performance.
Abstract: In order to better understand the moderating impacts of financial performance, this article looks at the relationship between ownership structure and firm performance of Nigerian listed commercial banks. Data on ownership structure and yearly financial reports at the firm level from 2013 to 2022 are used in the empirical analysis. Panel regression ...
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Research Article
An Empirical Investigation and Analysis of Foreign Aid- Economic Growth Nexus in Sierra Leone (1980-2023)
Sylvester Bob Hadji*,
Momoh Thomas Bockarie
Issue:
Volume 13, Issue 2, June 2024
Pages:
37-49
Received:
9 September 2024
Accepted:
8 October 2024
Published:
29 November 2024
Abstract: Sierra Leone, being a small and poor developing country, colossally relies on foreign aid, cardinally as a result of infinitesimal Gross Domestic Product (GDP) and improper resource management. The study elects to investigate and analyse foreign aid-economic growth nexus in Sierra Leone for the period 1980-2023. The study uses time series secondary data obtained from various sources such as the International Financial Statistics (IFS), Central Bank of Sierra Leone (CBSL), Ministry of Finance (MoF), World Development Indicators (WDI) and Sierra Leone Central Statistics Office (SLCSO). Various macroeconomic variables including investment to GDP ratio, exchange rate, terms of trade, inflation and public debt were specified in the model used in this study. A time series growth model was estimated using ordinary least squares (OLS) and Newey-West estimation techniques. The Hendry’s general-to-specific method was used to arrive at the estimated model. Stationarity test, using Augmented Dickey-Fullah Generalised Least Squares (ADF-GLS) and the Perron Vogelsang tests for unit root, was carried out for all variables in the model to avoid spurious regression results which are common with time series analysis of macroeconomic data using OLS technique. The study empirically reveals a positive and significant impact on economic growth in Sierra Leone for the period being investigated. The study, therefore, provides key recommendations consistent with the findings, among which, is the need for policymakers to exercise tremendous efforts to further attract foreign aid to Sierra Leone in order to boost output and economic growth, ensuring that such resources are well managed.
Abstract: Sierra Leone, being a small and poor developing country, colossally relies on foreign aid, cardinally as a result of infinitesimal Gross Domestic Product (GDP) and improper resource management. The study elects to investigate and analyse foreign aid-economic growth nexus in Sierra Leone for the period 1980-2023. The study uses time series secondary...
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