EMPIRICAL ANALYSIS OF THE IMPACT OF CORPORATE GOVERNANCE MECHANISMS ON THE MARKETING SYSTEM OF NIGERIAN BANKING SECTOR

ALO EBENEZER ADEBISI & OLUWASANMI, OLUWASEUN O.

Department of Business Administration,

College of Management Sciences,

Joseph Ayo Babalola University, Ikeji Arakeji, Osun State, Nigeria.

E-mail: ebenezer_alo@yahoo.com

ABSTRACT

Inadequate corporate governance practices are a major challenge facing the Nigerian banking industry. Corporate governance involves a system by which governing institutions and all other organizations relate to their communities and stakeholders to improve their quality of life. However, the impact of corporate governance on marketing system of Nigerian banking industry has not been given adequate attention in literature. This study therefore examined empirically, the impact of corporate governance mechanisms on the marketing system of Nigerian banking sector. The study population consisted of all staff of United Bank for Africa Plc (UBA) in Ilorin metropolis. The simple random sampling method was employed to select five branches of UBA Plc in Ilorin, Kwara State. A total of one hundred and fifty copies of questionnaire were designed and administered on the staff of the selected branches of UBA Ilorin. The statistical tools employed in the study are frequency distribution, mean, standard deviation and Pearson correlation coefficient. An analysis of the data revealed that there was a negative significant correlation between corporate governance practices in Nigerian banking sector and marketing system (r = -0.078; N=150; p (0.010) < 0.05). The study concluded that corporate governance had a negative significant impact on marketing system of Nigerian banking sector (Cal.X2=38.650>Crit.X2=9.49; df=1, p (.000) <.01). The study recommended that modern marketing system should be properly adopted to meet the need of Nigerian  

Governance environment and that Nigerian banking sector should incorporate accountability and transparency in their schemes.

Keywords: Governance, Corporate Governance, Corporate Governance Mechanisms, Marketing           Mix Elements

Table of Contents

Effects of Compensation Plan on Employee Performance in the

Telecommunication Industry (A Study of MTN and Glo Nigerian Ltd

(Umuahia Branch)

Melletus Uchechukwu Agbo                                                                            1-34

Workman Compensation Insurance: Essential for Sustainable

Development in Manufacturing Company in Nigeria

Raji Oladeinde Akeem & Adegboye Emmanuel Olatunji                                35-51

The Impact of Advertizing As a Promotional Tool on New Product Development (A Case Study of Unilever Nigeria Plc, Abuja)

Abdullahi Ndagi Yakubu, Salihu Shehu& Nwokenkwo Ben Olubunmi            52-67

THE IMPACT OF ADVERTIZING AS A PROMOTIONAL TOOL ON NEW PRODUCT DEVELOPMENT (A CASE STUDY OF UNILEVER NIGERIA PLC, ABUJA)

Abdullahi Ndagi Yakubu, Salihu Shehu& Nwokenkwo Ben Olubunmi

Department of Marketing

The Federal Polytechnic, Bida, Niger State.

email: ndyakubu1976@yahoo.com, Shehumunir2005@yahoo.com, bunminwokenkwo@gmail.com

ABSTRACT

 The aim of this study is to explore the role of advertising as a promotional tool for marketing a new product. A case study of Unilever Nigeria plc. An attempt was made to evaluate the effectiveness or role of advertising as one of the promotional mix element used by Unilever Nigeria Plc Abuja. This study is quantitative in nature as 20 questionnaire were handout to the respondents and non-probability sampling techniques was adopted, Hypotheses was formulated and tested with the use of Chi-square which shows that there exists relationship between the advertising expenditure and the annual turnover, and that advertising has a significant effect on the development. It also revealed that the choice of the right media selection can affect the effectiveness of the message of advertising. It was recommended that for the effective sales of product, appropriate plan and design of the message of advertising should be done before caring out the practice of advertising in an Organization; also the selection of the right media is also very important for the effectiveness of the use of advertising.Keywords: Advertising, New product Development

WORKMAN COMPENSATION INSURANCE: ESSENTIAL FOR SUSTAINABLE DEVELOPMENT IN MANUFACTURING COMPANY IN NIGERIA

Raji Oladeinde Akeem¹ & Adegboye Emmanuel Olatunji²

¹Department of Insurance, The Federal Polytechnic Ilaro, Ogun State.

Email: Akeemraji02@yahoo.com

²Department of Banking & Finance, The Federal Polytechnic Ilaro, Ogun State.

Email: adejuwonolatunji95@gmail.com

ABSTRACT

Workmen compensation is a policy affected by an employer on the employee in an organization which provides cover for financial benefits in respect of injuries, permanent or temporary disability or death of employees that arises during the course of work. Equitable compensation provided for the employee as a benefit will definitely increase the productivity of the organization and also there is possibility for such company to achieve its selective goals and objectives. Recently, companies do not comply to rules and laws by not effecting this policy on their workers. It is in this line that the research work aims at analyzing the effect of workmen compensation insurance on the employee performance of manufacturing companies in Nigeria.  The study was carried out with 297 out of the 346 questionnaires that were administered and distributed to the staff of the manufacturing companies in Agbara, Ogun state. Data collected was analyzed, using STATA 10 data analysis statistical package to examine how workmen compensation policy affects the employee’s performance in manufacturing companies. Factor analysis was employed to make the regression analysis possible. The result of the analysis at 5 % level of significance (p < 0.000) shows that workmen compensation policy has significant and positive effect on employee performance, which will eventually increase the overall performance, productivity and outputs of manufacturing companies. Workmen compensation was also found to be a source of morale to workers in order to perform effectively and efficiently. To this end, it is recommended that manufacturing companies operating in Nigeria, should ensure that their companies’ boards of directors comply with the employers’ liability (Compulsory Insurance) Act 2004 as well as other statutes and also make sure all employees are insured by obtaining workmen compensation insurance policy.

Keyword: Workmen compensation, Sustainable Development, Manufacturing Company, Death benefit, Disablement benefit, Medical benefit.

EFFECTS OF COMPENSATION PLAN ON EMPLOYEE PERFORMANCE IN THE TELECOMMUNICATION INDUSTRY (A STUDY OF MTN AND GLO NIGERIAN LTD UMUAHIA BRANCH)

Melletus Uchechukwu Agbo

Department of Business Administration

Michael Okpara University of Agriculture

Umudike, Abia State, Nigeria

ABSTRACT

This study examined the effects of compensation plan on employee performance in the telecommunication industry of MTN and Glo Nigerian, Umuahia. The research adopted the survey research design, using simple random sampling techniques, descriptive statistics and inferential statistics. A total number of eighty-eight (88) questionnaires were issued out by the researcher to the staff of MTN and GLO network providers. 17 respondents representing 21.3% strongly agreed that Prompt payment of salaries has influenced employee performance in the telecommunication industry’s, 42 respondents representing 52.5% agreed the same, 7 respondents were undecided, 10 respondents disagreed, while 6 respondents strongly disagreed that the development of the enterprises has increased their access to credit from financial institutions. Also 18 respondents representing 22.5% strongly agreed that Commission has impacted employee productivity in the telecommunication industry, 35 respondents representing 43.8% agreed the same, 9 respondents were undecided, 3 respondents disagreed, while 15 respondents strongly disagreed that Commission has impacted employee productivity in the telecommunication industry. From the regression analysis, the coefficient of bonus and salary are positive and significant at 1%. The p-values of bonus and salary is 0.0064 and 0.0000 is less than the t-statistic value of 2.799 and 9.084 and  the standard error value of 0.0785 and 0.0782 is less than the t-statistic value respectively. The adjusted R² 0.67 or 67% which revealed that the variables in the equation jointly explained 67% of the variations in the equation while the remaining 33% is explained by other variables not included in the equation.  In other words, the R-square value of 67%  expresses the percentage effect of remuneration dimension on employees’ performance jointly explained by salaries/wages and bonus/incentives on employees performance. Therefore, the findings indicate that, (i) Prompt payment of salaries has no significant effect on employee performance in the telecommunication industry. (ii) Commission has no significant effect on employee’s level of satisfaction in the telecommunication industry.

Keyword: Compensation, Compensation Plan, Employee Performance, Telecommunication Industry.