Scholarly works in the Department of Economics

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Browsing Scholarly works in the Department of Economics by Author "Ighodalo Ehizojie David"

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    Foreign Exchange Rate and Firm Survival: Evidence from Nigeria
    (UNIBEN Journal of Human Resource Management, 2023) Popogbe Oluwaseyi Omowunmi; Ighodalo Ehizojie David
    The role of monetary policy is crucial for the survival of the industrial sector. This study focuses on examining the relationship between foreign exchange rates and firm survival in Nigeria. The research utilizes secondary data from the World Bank Development Indicators (WDI) and the Central Bank of Nigeria's Statistical Bulletin, covering the years 1986 to 2021. Industrial output (INO) serves as a proxy for firm survival, while the independent variable is the foreign exchange rate (FEX). The stationarity of the variables was confirmed through unit root tests conducted at the level and first difference. The estimation technique employed in this study is the bounds testing cointegration approach, specifically the Autoregressive Distributed Lag (ARDL) model. The empirical model incorporates control variables such as interest rate, gross capital expenditure, and lending interest rate. The findings of the study reveal that an increase in the foreign exchange rate has a negative impact on the performance of the industrial sector. This implies that if the exchange rate continues to rise, the long-term survival of the Nigerian industry will be at risk. Hence, it is advisable to uphold a stable foreign exchange rate and facilitate its accessibility to industries in Nigeria.
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    Social Media Business Network and MSMEs Performance in Ogun State, Nigeria
    (UJM, 2022-06) Popogbe Oluwaseyi Omowunmi; Ighodalo Ehizojie David
    Businesses are fast realizing the importance of digital technology to enhance their productivity. This study, therefore, examines the impact of social media use on the financial and non-financial performance of MSMEs. Primary data were adopted for the analysis with focus on some selected Micro, Small, and Medium Scale Enterprises (MSMEs) in Ogun State, Nigeria. 280 valid responses were collated for the analysis and descriptive and logistic regression analyses were carried out. 152 females and 128 males participated in the survey. The findings showed that about two-thirds of the businesses sampled currently have their businesses on a social media handle and a large percent of them use Facebook as a platform to promote their businesses. More referrals, investment, and digitally skilled staff all significantly improved the financial performance of the businesses. On the other hand, social media visibility, investment in business, and digitally skilled staff positively impacted nonfinancial performance. Only two (business investment and digitally skilled staff) of the variables analysed significantly impact both financial and non-financial performance. The study does not find a significant relationship between other variables measured (such as online delivery of services and staff training) and the non-financial performance of the MSMEs. The study recommended that MSMEs should employ staff members that are social media savvy and also proactively attend to customers' online query.