Licensed under Creative Common Page 520 business performance. This study examined the effect of sustainable marketing elements corporate image of selected depositmoneybanks in Ogun state, Nigeria. The study adopted survey research design. The target population of this study comprised 1542 employees of five selected depositmoneybanks in Ogun state, Nigeria. Sample size was 565 determined using Cochran’s formula. Stratified random sampling method was adopted. Primary data was collected using a validated structured questionnaire. The Cronbach’s alpha reliability coefficient ranging from 0.700 to 0.990 was used for data collection. The response rate in this study was 94%. Quantitative data was analyzed using descriptive and inferential statistics. The findings of the study established that sustainable marketing had significant effect on competitive advantage of the selected depositmoneybanks in Ogun state, Nigeria. (Adj.R2 = 0.196, F(3, 505) = 25.253, p<0.05). It was recommended that selected depositmoneybanks should ensure that increased attention is given to both societal marketing and social marketing to enhance corporate image and performance.
The study examined the influence of forensic accounting on fraud detection and prevention in depositmoneybanks in Nigeria. The study sample was made up of all twenty- one (21) moneydepositbanks in Nigeria. Structured questionnaire designed by the researchers was used to collect data from branch manager, operation manager and accountant in each bank respectively in Lagos, totalling sixty (63) respondents through purposive technique method. Linear Regression Analysis was used to analyse the data collected. The result revealed that use of forensic accounting is a major mechanism in detecting and preventing fraud in banking sector. Paper recommended that forensic accounting should be embraced by management of Nigeria moneydepositbanks and public sector. Also, staff should be encouraged to attend conferences and seminars within and outside the country on forensic accounting. Moreover, Anti-corruption agencies in Nigeria such as EFCC, ICPC should be restructured by the government for better performance.
The paper examines the impact of non-performing loans on bank specific and macro-economic variables in the Nigerian depositmoneybanks. From the result of the findings in the study, it can be inferred that non-performing loans does not decreases bank performance as; There is no statistically significant relationship between NPLs and ROA this because ROA represents efficiency in asset utilization, poor utilization of assets indicates higher NPLs for the banks, there is no significant causal relationship between NPLs and CAR as banks solvency, ability to absorb risk and to encourage financial stability as well as efficiency has nothing do with NPLs as shown by the regression results and also there is statistically positive insignificant causal relationship between NPLs and INFL this is because when other things remain constant, inflation has on effect on NPLs in the Nigerian moneydepositbanks as well as insignificant relationship between ALR and NPLs which is because lending rate affect performing assets in banks but does not increase the cost of loans charged on the borrowers.
The study is designed as an experimental research. The sample size is made up of 21 DepositMoneyBanks in Nigeria. The data for this study were obtained from Central Bank of Nigeria Statistical Bulletin and CBN Financial Stability Report from 1991 to 2015. The data covered the period of 25 years. The estimation begins by conducting stationarity test. In this study, we employ Augmented Dickey Fuller (ADF) test to investigate the presence of unit root. We employ Johansen’s approach to measure this long-run equilibrium relationship among the variables. The presence of cointegration in the series makes us to proceed to fully modified ordinary least squares (FMOLS). The researcher also carried out post-diagnostic test. The post diagnostic test carried out were normality test using Jarque Bera Statistic and Wald test. The study makes use of multiple regression analysis as such the model stated in Equation (1) captured all the variables. The model for this study is specified as:
The financial system has become sophisticated and large that the use of teller posts and other print oriented banking services cannot sustain the current growth in the financial institutions. This trend has grown to the extent that clients of DepositMoneyBanks prefer to carry out banking transactions out of the four corners of the banking halls. Hence, attention is drawn to the need to operate banking services from homes and offices, and even at anywhere the needs arise to make payment or have the receipts of business endeavours. This makes Amu and Nathaniel (2016) to assert that banking has grown to the point where information and communication technology has become necessary impetus in helping banks to reach these goals. They conclude that information and communication technology (ICT) has created the innovation required by banks to be efficient and therefore more customers’ oriented services are provided.
The study used descriptive statistics, correlation matrix, covariance matrix and ordinary least square (OLS) linear regression model with correction for first order autoregressive errors by using Cochrane Orcutt in testing the hypothesis of the study, and E-view 8.0 econometric statistical software package was used. The signs and significance of the regression coefficients was relied upon in examining the nature and influence of the independent and dependent variables as to determine both magnitude and direction of impact. Also, the study tested the hypothesis to enable us determine the effects of financial market derivatives on the performance of depositmoneybanks in Nigeria.
Until the recently, lending has been the essence of depositmoneybanks and in fact, now, a colossal part of banks assets are in credit grants. As a result, the formulation and execution of a sound lending policy constitute part of the most vital responsibility of bank management. Kargi (2011) opined that well conceived lending policies and careful credit practices are essential for a bank if it is to perform its credit creating functions effectively and efficiently and at the same time minimize or eliminate the risk inherent in any extension of credit. It is important to note that the type and number of loans a bank will make as well as to whom it will grant credit and at what conditions and circumstances, requires a sound policy decision; adequate care must be taken in the process of arriving at such decisions. Thus, a meaningful periodic appraisal of lending and credit administration of a bank in the light of ever changing environmental conditions is necessary.
Banks serves as an indispensable part of the financial system, performing a crucial role in intermediation which results in a flow of financial resources in an economy. However, the recurring nature of fraud has hindered the effective performance of DepositMoneyBanks (DMBs). The broad objective of this study was to examine the impact of fraud on DMBs in Nigeria. The study was driven by the positivist research philosophy. Hence, the study adopted a quantitative research design using the ex-post facto strategy. Data was sourced from the Nigeria Deposit Insurance Corporation (NDIC) annual reports covering the period of 2006 to 2016. The Ordinary Least Square (OLS) was used to predict the impact of fraud on DMBs after fulfilling major regression assumptions. It was revealed that total fraud amount was negative, although insignificantly affect the performance of DMBs; the number of reported cases significantly and positively affect the performance of DMBs and lastly it was discovered that the total staff involved also significantly and positively affect the performance of DMBs in Nigeria. Therefore, the study concluded that the impact of fraud in the banking sector affects the performance of DMBs in Nigeria. The regulation and supervision of DMBs should be stricter, that is, the CBN and NDIC should tighten their grip in regulating and supervising so as reduce the increasing fraud incidence.
Depositmoneybanks remain the occupant of depository conglomerates which have obligations inform of credits allocated on demand, convertible by a cheque or otherwise operational for making payments. The mainstream of lending to Small and Medium Enterprises (SMEs) are operational resources which enthusiast to embedded topnotch enterprises that ensure ample negotiating supremacy to discuss healthier borrowing conditions (Ojo, 2010). Funding could be defined as a perilous component used for the expansion of SMEs businesses. This depends on the variability of sources of funding that is internal and external; formal and informal sources of funding. Conversely, the links between these sources and their effects on SMEs continue vague in poetry. But in the Nigerian milieu, the crucial source of funding for Small and Medium Enterprises is ostensibly not operational. Naturally, SMEs businesses were a cutting-edge to boost the nation’s economy by avail them affordable loan facilities with a low interest rate (Sanusi, 2011).
Developing new products that can impact positively on bank profit is a herculean task and a long term process that would come after much patience especially in developing economy as compared to poor economy where the purchasing power of goods and services are greatly enhanced. The problem becomes more compounded when dealing with illiterate and peasant consumers as Nigerian banks have to contend with when there is a new product. Bank managers need to find ways of appealing to prospective customers as well as satisfying their need and achieving organizational goal. These dual objectives are increasingly difficult to achieve in a competitive industry. Good marketing strategies are therefore needed to analyse needs and assess capability of new or existing products to satisfy those needs. Superior sales performance and financial viability of the bank also determine its success in satisfying those needs. And financial viability of a bank can only be determined through her profitability index or ratios over time. Many depositmoneybanks in Nigeria are faced with problems relating to their marketing activities due to lack of adequate knowledge of the prevailing market situation or product performance evaluation. Profitability strategies can only be formulated and implemented when the marketing manager is well informed about the current marketing situation and to a certain degree, anticipate future changes in the potential and new product market.
The highly competitive Nigerian banking industry has made banks to be proactive in innovating different products, offering incentives, deploying new distribution platforms massively, indulging in promotional acts, training employees, building branches and increasing use of technology in order to satisfy customers (Haruna, 2015). Despite all these efforts, depositmoneybanks faced with considerable marketing challenges such as pressure selling from marketing personnel especially if they want customers to open an account. There are also challenges of weak services, long queues and huge crowds in the banking halls. Ogunnaike and Olaleke (2010) stated that majority of Nigerian banks encounter similar problems in meeting customers’ expectations of services and customers satisfaction, ranging from problems of money transfer, long queues and huge crowds in the banking halls. Adeoye and Lawanson (2012) opined that most of the long queues and huge crowds in the banking halls are as a result of breakdown of computers and at times as a result of cashiers absconding from duty and passing the bulk to someone else.
expenses, non performance loan and inflation rate impede bank efficiency.With the use of Non parametric Data Envelopment Analysis, Inefficiency in Tazanian banks could be traced to inadequate long term capital, poor remuneration, poor management capacity and excess liquidity in terms of technical efficiency. Foreign banks take the lead followed by small and large domestic banks while small banks are scale efficient followed by foreign and large domestic banks respectively (Aikaeli 2008).Efficiency can be improved through investment in new piece of technology. Financial market in India is dominated by public banks and the ranking revealed that they are the most efficient compared to private banks. However, banking sector in India is characterized by fluctuation in the level of efficiency (Karmzadeh 2012). Consequent to rising number of bank customers, there has been a significant growth in the Jordanian Islamic banks with a concomitant increase in innovation efficiency. Ajloumi and Omari (2009),using both Data Envelopment and financial ratio analysis found that the most profitable banks faced higher risk which makes them operationally inefficient.
Following the approach adopted by Goddard, et al. (2004); Panayiotis et al. (2005) and Francis (2013), among others on bank efficiency in developed and a few developing economies. In measuring bank profitability, macroeconomic indicators are utilised as inputs and outputs in the estimation process. Applicable control indicators are the ratio of total investment to GDP (INVGDP) as a proxy for fluctuations in economic activity, and a short-term interest rate (IR), which captures the variability of market interest rates and the impact of swings in interest rate structure on banks’ profitability. Higher level of interest rate portends well for Banks’ earning potential as banks have option in investing loanable funds. Banks would either invest in short term, liquid and risk free government securities or choose to lend directly to the real sector. In a period of high interest rates, banks’ lending may actually reduce as banks divert loanable funds into government securities. This has adverse impact on the real sector and will adversely affect level of aggregate demand which may lower the nation’s GDP in that given period but the multiplier effect of such action may linger beyond given period. These variables are taken from data published by the National bureau of Statistics and CBN quarterly statistical bulletins.
Automated teller machine (ATM) banking is a popular access channel to banking products and services behind branch banking. Banks have been offering more access points to newer ATM technologies that are faster, secure and with a wider range of services that include cash depositing to achieve competitive advantage through the ATM banking. To retain bank profitability, expanding the base of satisfied customers is of essence, and as such the concept of customer satisfaction and what makes customers satisfied is an area of frequent market studies. Knowing the factors that influence customers’ satisfaction with ATM banking is of significance when it comes to deployment of ATM technologies. Today ATM machine is just like a boon for everyone and of which it is one of the best services provided by the banking industry to its customers (Akrani, 2011). Ali and Emenike (2016) note that ATMs are known by various other names including automated banking machine (ABM) in the United States, Automated Transaction Machine or Cash point in the United Kingdom, Money Machine, Bank Machine, Cash Machine, Hole-In-The-Wall, Auto teller after the Bank of Scotland's usage, Cash line Machine as in the Royal Bank of Scotland's usage, MAC Machine in the Philadelphia area, Bankomat in various countries particularly in Europe and Russia, Multibanco after a registered trade mark, in Portugal, Minibank in Norway, Geld Automaat in Belgium and the Netherlands, and All Time Money in India (Jegede, 2014).
CBN affects the operations of DMBs through monetary policy transmission mechanism. The CBN, through monetary policy, controls the short-term interest rates and liquidity of DMBs, thus, CBN determines the ability of DMBs to increase money supply through creation of credit. This in turn determines the total loans that can be given out and the extent DMBs can attract deposits. When interest rate is high, although this will attract money customers to bring deposit but on the other hand, it will discourage investments because of high cost of funds, thus reducing the amount of loans DMBs can give out. This is likely to reduce the interest income of DMBs as they are required to pay high interest rate on deposits but have a reduced loan portfolio from which they can earn interest income.
The table above shows a positive correlation between the independent variables number of audit meetings, board size, gender diversity, board composition, and the dependent variable profit after tax which is being used to measure banks performance.The table revealed that the coefficient of correlation (R) is 0.931 which indicates a positive relationship between the independent variables and the dependent variable. The coefficient of determination R 2 is 0. 866 which shows that the model is perfect and fit for prediction at 87%. The AdjR 2 is 0.818 which means that about 82% of the dependent variable is accounted for by the independent variables and the remaining 18% is not accounted for due to financial policies and financial errors. The DW is 2.013 which shows that there is no serial autocorrelation and it is a significant and good model for prediction.
Ibeabuchi, (2007) assesses the effects of these reforms on the effectiveness and efficiency of the Nigerian financial institutions with emphasis on the banking sub-sector. The results show that the performance of the financial sector has been greatly influenced over time by these reforms that began in 1986. The adoption of market determined cash reserve requirement caused cash intensity and domestic savings to increase by 5.54 and 5.00 percent respectively. The gradual increase in the capital base of these firms has rekindled the public confidence inthe sector by increasing savings by 3.6, percent. Also, as government reduce her ownership offinancial institutions, most financial development indicators perform better including; financial deepening. However, interest rate deregulation in Nigeria has been accompanied with decline banks credits due to negative (or very high) lending rate with its attendant crowding out effect. The policy implication therefore, is that, monetary authority should direct their efforts towards achieving a positive interest rate regime, increase the scope of financial reforms and these reforms should be seen as a process rather than event to consolidate the emerging confidence in these institutions.
increase in money supply made available by the actions of depository institutions, governments and monetary authorities in the financial markets. Thus, loanable funds represent a flow of money into the financial markets for loans of all kinds. According to Pearce (1992), loadable funds or credit is strictly the term used for funds that are available for lending in the money and capital markets and is usually considered within the context of the theory of interest rate. According to Uremadu (2005), loadable funds result out of planned and mobilized savings; accumulated savings when invested, translate into capital formation which is a stock of real productive asset. Capital formation is the background for real economic growth and development of developed economies (Jhigan, 1998). The modern theory of loanable funds, in a simple version explains the determination of interest rate in terms of the demands for, and supply of credit. The relationship between financial development and economic growth has extensively been studied by researchers especially for many developing countries. Patrick (1966) makes a distinction between supply-leading and demand-following responses.
Research on the effect of aesthetics on employee job satisfaction in Nigeria is scanty and this result to loss of benefits of mastering aesthetics management in business organizations. Therefore, this study investigated the effect of organizational aesthetics on employee job satisfaction. The specific objectives of this study were to: determine the extent expressive properties improve employee job satisfaction, ascertain the effect of representational properties on employee job satisfaction, and determine the extent to which formal properties improve job satisfaction of employees. The population of the study comprised of 115 staff of First Bank in Enugu in metropolis. The sample size of 89 was determined using Taro Yamane’s formula while Boyles' proportion allocation formula was used in apportioning the sample among departments in the bank. The data were collected using structured questionnaire. The hypotheses were tested with simple linear regression. The findings reveal that expressive properties significantly improve employee job satisfaction (r=.891, n=89; p=0.017< 0.05). Second, that representational properties have a significant effect on employee job satisfaction (r=.956, n=89; p=0.003< 0.05). Third, that formal properties have a significant effect on employee job satisfaction (r=.960, n=89; p=0.002<.05). The study concluded that the management of banks should improve on the appearance, goal and value congruence, and internal cooperation in their organizations in order to boost promotes employee job satisfaction.