JOURNAL OF BUSINESS & ECONOMY

The need for financial probity cannot be overemphasized as this has drawn the attention of researchers in the field of accounting and finance that demands urgent attention. Despite widespread reforms aimed at enhancing transparency and governance, persistent challenges such as inconsistent compliance, delayed reporting and weak institutional capacity undermine financial accountability at the subnational level. This study addressed a critical gap in the literature by empirically investigating the specific effect of IPSAS within the unique socio-administrative context of Ogun State LGAs focusing on four dimensions: compliance, transparency, corruption and timeliness. The objective of the study was to investigate the effect of IPSAS adoption on financial accountability of LGAs in Ogun State. The study employed a survey research design targeting a population of 475 accountants, internal auditors and accounts staff across Ogun State LGAs. A sample size of 448 was determined using the Olonite sampling technique. Data were collected via structured questionnaires and the instruments reliability was confirmed with Cronbach’s Alpha coefficients ranging from 0.733 to 0.909 indicating excellent internal consistency. Data was analysed using descriptive and multiple regression analysis to test the hypothesized relationships. The results and findings show that IPSAS adoption had a positive and significant effect on Compliance with Financial Reporting Requirements (CMFR) for hypothesis one (Adj R 2 = 0.713, F(4, 345) = 6.898, p < 0.05). IPSAS adoption had a positive and significant effect on Transparency of Financial Reporting (TRFR) for hypothesis two (Adj R 2 = 0.723, F(4, 345) = 2.682, p < 0.05). From the findings and results, the study concluded that IPSAS adoption has a significant effect on financial accountability in LGAs in Ogun State.The study however recommended that local government authorities institutionalize continuous IPSAS training programs for accounting personnel, enforce strict compliance mechanisms, automate accounting processes to ensure timeliness and enhance the public dissemination of financial reports to foster transparency and public trust.

This study evaluates the influence of corporate social responsibility reporting on firm performance as captured via their net profit margin and return on assets over the study period of 2012 to 2022. The study employed the stationarity test because of its statical properties, the panel regression test in its pooled random and fixed effects variants, followed by the co-integration test, error correction model and stacked granger causality test that analyzed causal relationship between relevant variables. The research employed secondary data which were  obtained from annual report of quoted oil and gas companies to test seven hypotheses related to community development costs, human capacity development costs, employee benefit costs, and firm size. The findings reveal a significant positive relationship between community development costs and net profit margin, emphasizing the impact of strategic investments in community development on profitability. However, no significant relationship is found between community development costs and return on asset. Human capacity development costs did not exhibit a significant relationship with either net profit margin or return on asset. Notably, a negative relationship is identified between employee benefit costs and net profit margin, prompting recommendations for careful management of benefit programs. Firm size positively moderates the relationship in the net profit margin model, indicating potential advantages for larger companies, while its impact on return on asset is not statistically significant. Therefore, the study advises decision-makers to act towards optimizing resource allocation, fostering sustainable community development, and maintaining a balanced approach to employee benefits.

The agro-processing sector in Nigeria, especially in Osun State, plays an important role in economic growth by reducing post-harvest losses, adding value to agricultural products, and creating jobs. However, the sustainability of small-scale agro-processing firms is often undermined by irregular raw material supply, poor infrastructure, and systemic inefficiencies. This study investigated the role of raw material sourcing in the survival and growth of small-scale agro-processors in Osun State. Specifically, it examined the strategies employed for sourcing, the relationship between sourcing and agro-processing production practices, and the systemic and operational factors influencing the availability of raw materials. The study adopted a descriptive survey design with a sample of 120 respondents drawn from owners, managers, and staff of agro-processing firms across Osun State using stratified random sampling. Data were collected through structured questionnaires and analysed with descriptive statistics and linear regression at a 0.05 significance level. Findings showed that multiple sourcing channels, supplier diversification, farmer partnerships, and seasonal planning were the most effective strategies, with minimal reliance on importation. Regression analysis revealed that sourcing strategies moderately improved raw material availability, and sourcing practices strongly influenced agro-processing production outcomes. Systemic and operational factors such as infrastructure, storage, and staff competence also had significant but smaller effects. The study concluded that effective sourcing is central to sustainability and recommends diversification, farmer contracts, ICT adoption, and improved rural infrastructure to strengthen agro-processing enterprises.

This article examines the contribution of foreign direct investment (FDI) to socio- economic development in developing countries, using Nigeria (1990 - 2022) as a detailed case study. The study focuses on the contributions of FDI to the reduction of unemployment in Nigeria over the period. The study used unemployment rate (UNEM) as the dependent variable while FDI, DIV, and CPS were used as independent variables. Using time series and ARDL regression analysis and based on 5% level of significance, the paper finds that FDI credit to private sector, and domestic investment have contributed negatively to UNEM rate growth, implying that increase in these variables can potentially reduce the unemployment rate in Nigeria. The study concludes that to combat unemployment rate in Nigeria, FDI must be encouraged. It is therefore recommended that domestic investments must be encouraged using credit to private sector.

The main objective of this study is to examine the effect of customer retention strategies on marketing performance of Hotels in Abia State of Nigeria. The researchers employed a survey research design. The population of the study comprised clients from 15 selected Hotels in Abia State. A sample size of 385 was used in the study. The study utilized convenience sampling method. A simple regression model was latter employed in testing the stated hypotheses in the study. The presentation of data and testing of hypothesis were done with the SPSS software version 25.0. Findings show that attractive pricing is a positive and significant factor affecting customer satisfaction of Hotels in Abia State of Nigeria. Customer care is a positive and significant factor affecting customer satisfaction of Hotels in Abia State of Nigeria. It was also found that complaint handling is a positive and significant factor affecting customer satisfaction of Hotels in Abia State of Nigeria. The study based on the findings concludes that customer retention strategies have positive and significant effect on marketing performance (customer satisfaction) of Hotels in Abia State of Nigeria. It was recommended that Hotel managers in Abia State of Nigeria should work towards value and price paid and the overall expectations of the customers. This will promote satisfaction to customers and increase overall marketing performance.

This article examines the contribution of foreign direct investment (FDI) to socioeconomic development in developing countries, using Nigeria (1990 - 2022) as a detailed case study. The study focuses on the contributions of FDI to the  reduction of unemployment in Nigeria over the period. The study used  unemployment rate (UNEM) as the dependent variable while FDI, DIV, and CPS were used as independent variables. Using time series and ARDL regression  analysis and based on 5% level of significance, the paper finds that FDI credit to private sector, and domestic investment have contributed negatively to UNEM  rate growth, implying that increase in these variables can potentially reduce the unemployment rate in Nigeria. The study concludes that to combat  unemployment rate in Nigeria, FDI must be encouraged. It is therefore  recommended that domestic investments must be encouraged using credit to  private sector. 

This study investigates the relationship between investment and economic growth in Nigeria. The study employed a rigorous econometric approach using Pooled Mean Group (PMG) regression analysis covering Nigeria from 1985 to 2023. The dependent variable is Gross Domestic Product Growth (GDPG) while, the independent variables are Foreign Direct Investment (FDI), Foreign Portfolio Investment (FPI) and Domestic Investment (DOI). The result shows that there is long run relationship among the variables employed. Also, the findings revealed that, foreign private investment demonstrates the strongest long-term growth impact, Domestic investment shows consistent positive effects while, Foreign direct investment presents an interesting paradox - initially negative but ultimately positive effects - highlighting the complex dynamics of economic integration. The study therefore recommends among others that government should improve the investment climate by reducing regulatory bottlenecks, ensuring stable exchange rates, and strengthening property rights and also develop critical infrastructure (power, transport, and digital connectivity) to attract high-value foreign investments in order to achieve sustainable economic growth in Nigeria.

This study focuses on the Health Care Expenditure and Economic growth using, some key indicators as the independent and dependent variables (expenditure on specialist surgical work force, external health expenditure, domestic health expenditure and the gross domestic product growth); in determining the effectiveness of health care expenditure on economic growth in Nigeria. This study gave answers to the research questions and the stated hypothesis. The study scope covered between the years 1990- 2023, in order that a proper understanding will be grasped. The study highlighted several theories in the chapter, from which the theory which the work anchored on was selected; which are the Grossman model of health production and the endogenous growth model. The ex-post facto research design was adopted that aided the examination of how pre-existing variables influences the dependent variable, from the sourced data from the world development index 2024. The study adopted the ARDL model for the regression analysis because the variables were stationary at level and 1st difference. The result that was reached shows that there exist relationships between the independent variables and the dependent variable; DHE exhibits a positive and significant influence on GDPG, while SSW, reveals a positive but not significant influence on the GDPG; lastly, EHE shows a positive influence on the growth of the gross domestic product. It is therefore recommended that the Nigerian government should strengthen policies that attracts and retain investments in the health sector.

This study empirically investigates the effect of the cost approach to fair value measurement on the corporate profitability of listed cement firms in Nigeria, measured by Return on Capital Employed (ROCE) and Return on Equity (ROE). Grounded in Agency Theory, the research employs an ex-post facto design, analysing secondary data from the annual reports of Dangote Cement Plc, BUA Cement Plc, and Lafarge Africa Plc over a five- year period. The findings reveal a statistically significant positive relationship, with the cost approach explaining 24.0% and 25.1% of the variances in ROCE and ROE, respectively. The results indicate that in this asset-intensive sector operating within a volatile economic context, the cost approach, by providing a conservative, replacement-cost-based valuation, enhances the reliability of financial statements and leads to more meaningful assessments of capital efficiency and shareholder returns. The study concludes that the cost approach is a critical valuation technique for aligning reported asset values with contemporary economic realities in emerging markets, thereby offering valuable insights for standard- setters, regulators, and firm management

This study examines how web and social media marketing can be used as tools for achieving marketing performance among selected small and medium scale enterprises in a digital economy, using Abia State in Nigeria as a microcosm. In carrying out the research, multi-stage probability sampling method was adopted for the study. Here the state was divided into three educational zones namely Abia North, Abia Central and Abia South. From each of these zones, 50 respondents were selected which gave us a sample size of 150. From here, 150 copies of questionnaire was designed for collection of primary data for the study. Cronbach Alpha model was computed to determine the reliability of the research instrument. And a result of 0.76 and 0.74 were adopted for reliability of the instrument. After the empirical analysis and statistical research, it was concluded that Facebook, WhatsApp and Twitter or X as dimensions of social media web marketing were significant and positively affected marketing performance of the selected SMEs in the study area. Taking cognizance of the results of the analysis, the research suggests that to enhance and consolidate on the gains of marketing performance via social media and web marketing in a digital economy, SMEs should manage their use of using Facebook, WhatsApp and Twitter or X in the modern global cum digital economy, like their counterparts in multinational firms. Such will stimulate market customer traffic and thereby demand for their (SMEs) product in the long-run.

This study focuses on the Health Care Expenditure and Economic growth using, some key indicators as the independent and dependent variables (expenditure on specialist surgical work force, external health expenditure, domestic health expenditure and the gross domestic product growth); in determining the effectiveness of health care expenditure on economic growth in Nigeria. This study gave answers to the research questions and the stated hypothesis. The study scope covered between the years 1990- 2023, in order that a proper understanding will be grasped. The study highlighted several theories in the chapter, from which the theory which the work anchored on was selected; which are the Grossman model of health production and the endogenous growth model. The ex-post facto research design was adopted that aided the examination of how pre-existing variables influences the dependent variable, from the sourced data from the world development index 2024. The study adopted the ARDL model for the regression analysis because the variables were stationary at level and 1st difference. The result that was reached shows that there exist relationships between the independent variables and the dependent variable; DHE exhibits a positive and significant influence on GDPG, while SSW, reveals a positive but not significant influence on the GDPG; lastly, EHE shows a positive influence on the growth of the gross domestic product. It is therefore recommended that the Nigerian government should strengthen policies that attracts and retain investments in the health sector.

This research assesses the implications of bank credits in deepening small and medium scale enterprises (SMEs) performance in Nigeria, spanning the period from 1990 to 2022. The indicators used for bank credits are private sector credit, agricultural sector credit, manufacturing sector credit, credit to SMEs, and the lending rate while SMEs output is used as proxy for small and medium scale enterprise (SMEs) performance. The study was anchored on Pecking Order Theory. Annual time data series for the study were gathered from the Central Bank of Nigeria (CBN) Statistical Bulletin and reports from the National Bureau of Statistics (NBS), and were analyzed using Augmented-Dickey Fuller (ADF) unit root test, the Bound cointegration test statistic, and the Autoregressive Distributive Lag (ARDL) approach. The research established that providing market friendly credit to the private sector and the agricultural sector positively but insignificantly influenced SMEs’ output in Nigeria. Conversely, credit to the manufacturing sector and the SMEs positively and significantly impacted on SMEs output while lending rate had negative and significant impact on the regressand. The study concluded that bank credits play significant positive role in deepening small and medium scale enterprises (SMEs) performance in Nigeria over the sampled period. It is recommended among others that deposit money banks should favourably extend more market friendly credits to small and medium scale enterprises (SMEs) to enhance their performance in the economy