The Challenges of Entrepreneurship Development in Nigeria and Way Forward BABA, G.K.

Category : JOURNAL OF BUSINESS AND ORGANIZATIONAL DEVELOPMENT, VOLUME 5, NUMBER 1, 2013

1AMUCHIE A.A., 2HAFSAT O.A. AND 3OGUCHI U.T.C.
1 & 2 Department of Business Education,
3French/Linguistics Department,
College of Education Zing, Taraba State, Nigeria.
E-mail: austin_source@yahoo.com
ABSTRACT
The priority of any nation is the ability to utilized internal resources that is
endowed in the land through a good culture of entrepreneurship which
usually yields to sustainable development. A culture of good
entrepreneurship, more especially internal resources transforms poor
economy of a nation and makes a way forward. This paper argues that
through effective participation and performance of entrepreneurship will lead
to a true and meaningful economic transformation of the Nigeria economy.
Nigeria, like all other developing countries is as a result of these problems
experiencing syndromes of poverty, which the developed industrialized
countries never experienced. This paper focus attention on meaning of
entrepreneurship culture, the role of entrepreneurship in sustaining
development, constrains to the development of entrepreneurship, how to
ensure a culture of good entrepreneurship in Nigeria etc. to ensure that
futuristic plans were actualized. Finally, recommendations and conclusion
were made.

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Money Supply and Inflation in Nigeria 1986-2009 ODIBA E.O.1, APEH A.S.2, AND DANIEL E.J.3

Category : JOURNAL OF BUSINESS AND ORGANIZATIONAL DEVELOPMENT, VOLUME 5, NUMBER 1, 2013


1Department of Business Administration and management
Nigerian Army Institute of Technology and Environmental Studies
Makurdi, Benue State.
2Department of Economics,
Kwararafa University, Wukari, Taraba State.
3Department of Economics,
Umar Suleiman College of Education, Gashua, Yobe State
E-mail: apehsunday96@gmail.com, odibaonoja26@gmail.com
ABSTRACT
A rapid and persistent increase in the general prices of goods and services
is harmful to the economy in various ways. It is for this reason that price
stability is a prime objective of economic policy all over the world. In
Nigeria, Government has implemented a number of anti-inflation
measures but with limited success. This may be due to an inadequate
understanding of the inflationary process. While there is considerable
disagreement on the causes of inflation, one of the most frequently cited
factor is the money supply. The results of the existing works on the
importance of money supply in the inflationary situation in Nigeria are
mixed. It is against this background that this study investigated the effect
of the money supply on inflation in Nigeria between 1986 and 2009. It
also examined the effect of aggregate demand on inflation. The objective
of this study is to ascertain how far the money supply can explain the
inflationary phenomenon in Nigeria. The study uses secondary data
obtained mainly from the Central Bank of Nigeria’s Statistical Bulletin and
World Bank data base 2011. The data were analyzed principally by
multiple regression method using the ordinary least square method. An
ADF test indicated that some of the variables used were stable at levels
and others at first difference. Other tests are; the GARCH model,
Johansen cointegration. Based on the results of the analysis and test the
study concluded that the money supply and aggregate demand were the
main determinants of inflation in Nigeria during the review period. Given
this conclusion, it was recommended that the Central Bank of Nigeria
should concentrate on controlling the growth of money supply while the
policy of fiscal restraint is used to curb aggregate demand. This would
lead to a moderation of the increases in the price level.

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Marketing Strategies: Rebranding as a Means of Redeeming Corporate Image of Products and Organizations

Category : JOURNAL OF BUSINESS AND ORGANIZATIONAL DEVELOPMENT, VOLUME 5, NUMBER 1, 2013


DIBIE, VICTOR MONDAY
Department of Marketing
Michael Okpara University of Agriculture, Umudike, Abia State – Nigeria
E-mail: v.dibie@yahoo.com
ABSTRACT
This paper discussed on marketing strategies: rebranding as a means of
redeeming corporate image of a product and organization. The study sees
rebranding as a marketing strategy in which a new name, term, symbol,
design, or combination thereof is created for an established brand with
the intention of developing a new, differentiated identity in the minds of
consumers, investors, and competitors. It noted that Strong brand can
create options of growth, command market share, barrier of entry for
competitors and consumer loyalty. The researcher concluded that
rebranding is mostly necessary especially if the corporation feels they
have to meet with the competitive demand of market forces. Rebranding
is a continuous process. For as long as the company exists it is worthwhile
for the corporation to be involved in rebranding. It is recommended
therefore, that corporation should be involved in rebranding from time to

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Appraisal of Change in Investors’ Behaviour During and After the Speculative Bubbles and Crashes of the Nigerian Capital Market

Category : JOURNAL OF BUSINESS AND ORGANIZATIONAL DEVELOPMENT, VOLUME 5, NUMBER 1, 2013


OKE, MARGARET ADEBIMPE
Department of Economics,
Ajayi Crowther University, Oyo State, Nigeria.
E-mail: oke_margaret@yahoo.co.uk
ABSTRACT
The high appraisal of the aggregate market in respect to high price earnings
ratio and high asset prices experienced in the equity and asset markets in the
end of 1990s and the imminent fall 2008 ascribed to the speculative bubble
crash and consistent with investors’ irrational behaviour, wrong human
judgement of the 2008 market decline due to bad credit lending. It is against
this background, that the study appraises how both active private and
institutional investors’ are influenced by these biases and what influences them
to change their investment portfolio during and after the speculative bubble and
crash of 1998 to 2009. The use of questionnaires was adopted and directed to
both institutional and private investors to get an understanding of what their
trading pattern was like; and looks at the behavioural bias that influenced their
method of stock picking in the past. The result obtained during the analysis
shows that market participants during the speculative bubble and decline of the
market are irrational in their decision and this change the composition of the
market. During the high valuation in equity price of companies, behavioural
factors influenced investors’ decision. This result shows that the fundamental
value of a company did not affect market overvaluation. The media also played
an important role in disseminating information to both investors. Media proved
to be most effective in determining the fundamental valuation of assets today
when personal intuition has a great impact on investment decision. The
overconfidence bias also influences the decision of investors’ greatly during the
speculative bubble this explains the self-attribution and hindsight bias in
investors. The fact that most investors’ consider the market overvalued shows
the manifestation of this bias. This supports the EMH theory that investors’
think that they can predict and outperform the market. Conclusively, the
common knowledge of the factors underlying the speculative bubble before its
imminent burst and the way psychological factors influences our decisionmaking
should stand as a guide against a reoccurrence of this phenomenon and
improve the efficiency of today’s reviving financial market.

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