Ikechukwu Acha | University Of Uyo, Uyo, Akwa Ibom State Of Nigeria (original) (raw)

Papers by Ikechukwu Acha

International Journal of Development and Management Review, 2008

The effective management of business finance is critically dependent on the proper understanding ... more The effective management of business finance is critically dependent on the proper understanding of the interrelationships between different dimensions of financial management and growth performance of the business. This study examines the relationship between selected managerial finance functions and growth of business in Akwa Ibom State, Nigeria using Pearson’s Product Moment Correlation model. The results show that all the managerial functions selected for the study are positively correlated with growth, but with varying levels of significance. The implication of the results is that, given the diversity and specialized nature of managerial finance, every dimension of management relating to financial resources should be taken seriously to ensure long-term sustainable growth of business.

international journal of research in computer application & management, 2015

The investigation of the possibility of a significant difference existing in the parametric and n... more The investigation of the possibility of a significant difference existing in the parametric and nonparametric bootstrap methods on external sector statistics, and establishing the sample data distribution using the smooth bootstrap is the focus of this study. The root mean square error (RMSE) and the kernel density will be used on the test statistic θ in the determination of such difference. Establishing this difference will lead to more detailed study to discover reasons for such difference. This will also aid the Nigeria economy to aim at improving the performance of the external sector statistics (ESS). The study used secondary data from Central bank of Nigeria (1983-2012). Analysis was carried out using R-statistical package. In the course of the analysis, 17280 scenarios were replicated 200 times. The result shows a significant difference between the performances of the parametric and nonparametric smooth bootstrap methods, namely; wild and pairwise bootstrap respectively. The ...

Developing Country Studies, 2013

Monetary policy is implemented with the main objective of economic stability and banks are the pr... more Monetary policy is implemented with the main objective of economic stability and banks are the primary channel through which this policy influences economic variables. It is argued that the extent to which monetary policy goals are attained is predicated on the responsiveness of banks to it. The study therefore investigates the implications of monetary policy for Nigerian banks. To ascertain the influence pattern of monetary policy on banks, the study uses monetary policy rate and lending rates as monetary policy proxies. While banks asset is represented in the model by aggregate bank lending. Correlation and regression analyses were used to analyze data. The correlation result showed a negative relationship between aggregate bank lending (AGL), monetary policy rate (MPR), lending rate (LDR) and inflation rate (IFR). The regression analysis result confirms this, as monetary policy rate (MPR) relates negatively with loans in Nigeria. This means that the raising of the MPR and the att...

This study highlights the potential contributions of microinsurance business to the growth and de... more This study highlights the potential contributions of microinsurance business to the growth and development of the Nigerian economy. It noted the low levels of insurance coverage where only 1% of the adult population is insured and insurance penetration of 0.68%. The contribution of insurance to GDP is put at a paltry 0.72% and poverty is so high that about 70% of the population live on less than $1.00 a day. The paper therefore examines the fundamental issues that bedevil the Nigerian economy and the insurance industry and the impact of the issues on the country’s economy. The inadequacy of data and relative newness of the microinsurance arrangement encouraged documentary review in this study, with extensive employment of secondary sources of information. Using a descriptive research design and employing tables, graphs, charts and percentages to analyze the data, the study shows that development of microinsurance business in Nigeria has the potential to undo some of the country’s ec...

This study examines the causes of unethical behavior in the marketing of banking services in Nige... more This study examines the causes of unethical behavior in the marketing of banking services in Nigeria. The study adopts a survey design and uses structured questionnaire to elicit information from respondents. It focuses on banks in the south-south and south-eastern regions of Nigeria. From each of the regions two state capitals were judgmentally selected. Ten out of the 24 banks currently operating in the country with branches within these regions were included in the study. Using Raosoft sample size calculator, a sample of 173 was drawn from the total staff strength of 313 of these banks’ 35 branches within the region. Inferential and descriptive statistics were applied in data analysis and results led to the conclusion that personal, organizational and societal factors play prominent roles in fostering unethical behavior in bank services marketing. The study therefore recommends a downward review of marketing targets for bank staff by the various bank boards of directors.

This study is a critique of the diverse models adopted for micro insurance covers by microfinance... more This study is a critique of the diverse models adopted for micro insurance covers by microfinance banks in Nigeria. It is aimed at ascertaining the most functional model(s) which best fits the financial system and its low income earning entrepreneurs and businesses. Micro insurance is a financial arrangement to protect low income people against specific perils in exchange for regular premium payments. It is mostly provided by microfinance banks as an innovation to their micro financing activities such as lending, leasing, savings and cash transfer to the poor or those excluded by the mainstream retail banking sector. Diverse micro insurance models have been developed over the years but these are characterized by one flaw or the other such that little value is offered in contrast to the large sums involved. There is therefore a need for a model which could provide a comprehensive yet affordable micro insurance service. In this paper, six models adopted in various countries are analys...

Account and Financial Management Journal, 2017

Scholedge International Journal of Business Policy & Governance ISSN 2394-3351, 2016

European Journal of Business and Management, 2012

International Journal of Finance and Accounting, 2012

Scholedge International Journal of Management & Development ISSN 2394-3378, 2017

We examine the cointegration and causal relationship between insurance and economic development i... more We examine the cointegration and causal relationship between insurance and economic development in Nigeria using time series data from 1990 – 2013. Gross domestic product (GDP) is adopted as a proxy for the level of economic development, while total life insurance premiums (TPL), total non-life insurance premiums (TPNL) and total insurance investment (TII) are used in measuring growth in the insurance sector. Data is operationalized through the stationarity test, cointegration test, regression analysis and granger causality tests. The stationarity test reveals that all-time series data are stationary at the 1%, 5% and 10% levels of significance. The test for cointegration shows that all cointegrate when GDP is the endogenous variable. The granger causality test reveals that there is a bidirectional relationship existing between GDP and total non-life insurance premiums while a unidirectional relationship exists between GDP and total life insurance premiums with no causal relationshi...

Developing Country Studies, 2013

International Business and Management, 2011

Whether banks through their financial intermediation activities (savings mobilization and lending... more Whether banks through their financial intermediation activities (savings mobilization and lending) cause economic growth is the theme on which this study was based. Data on gross domestic product (GDP), credit to private sector (CPS) and total bank deposit (DPS) were obtained from Central Bank of Nigeria (CBN) statistical bulletin and used to compute savings ratio (SR) and credit ratio (CPR). A time frame of 1980-2008 was adopted. The hypotheses that no causal relationship exist between savings mobilization and credit on one hand and economic growth on the other were tested. The Granger Causality Test was used to test these hypotheses. It could not identify any significant causal relationship between banks' savings/credit and economic growth. The absence of such a relationship was conjectured to be due to the economies developmental stage characterized by infrastructural decay and the inefficient utilization of mobilized deposits. The study therefore recommended improvement in infrastructure such as roads and power supply. It also suggested close regulatory monitoring to ensure that mobilized deposits are used mainly in funding the productive sector.

The study examines the contribution of banks in Nigeria to the growth of the economy. It used ban... more The study examines the contribution of banks in Nigeria to the growth of the economy. It used bank savings mobilization and credit to the real sector as proxy for banks contribution while gross domestic product growth rate proxies' economic growth. Before correlation analysis and regression were used to test hypothesis, diagnostic tests were carried out on the variables to ensure stationarity and examine the cointegration properties of the model. Augmented Dickey-Fuller test was used to test stationarity while Trace statistic and Eigenvalue test were used to assess cointegration. Results show an insignificant impact of banks intermediation variables on economic growth. The study therefore concludes that the poor performance of these variables indicate that other variables such as human resources, social infrastructure, political stability and technology may play more robust role in economic growth in Nigeria than banks. In the light of this, urgent improvement in social infrastructure especially power supply and reversal of the decline in education were recommended.

This book is on the relationship between finance and economic growth. The need to grow economies ... more This book is on the relationship between finance and economic growth. The need to grow economies especially those of less developed countries and the the unending contentions among economists as to the relationship between finance and economic growth motivated the writing of this text. In many developing economies banks play a key role in the provision of finance,this explains the primacy these institutions are accorded in this book. In assessing the extent finance contributes to economic growth, financial intermediation by banks is used as a proxy for finance while gross domestic product growth rate represented economic growth. The book showed that the reliance on banks by most developing countries to generate growth may be unfruitful. This is because, the Nigerian case surveyed in this book noted marginal contribution by banks to economic development.

This study examines the causal relationship between stock market performance and economic growth ... more This study examines the causal relationship between stock market performance and economic growth in Nigeria for the period 1987 -2014, using annual secondary data. Economic growth is proxied by gross domestic product (GDP) while capital market performance is measured by market capitalization, total new issues, volume of transaction and listed equities. The objective is to empirically analyze, using link between capital market performance and economic growth (i.e. whether stock market performance causes economic growth or itself is a consequence of increased economic activity). The investigation of the causal relationship was conducted using Granger causality test based on the Vector Autoregressive (VAR) model. The statistical techniques used include the unit root Augmented Dickey Fuller test in order to test for stationarity for all the time series in their levels and first differences. The Johansen co-integration test was used to investigate whether the variables are cointegrated o...

This paper examines corporate restructuring in Nigeria with emphasis on mergers and acquisition. ... more This paper examines corporate restructuring in Nigeria with emphasis on mergers and acquisition. It started by reviewing the history of mergers and acquisitions and went further to theoretically assess the implications of mergers and acquisitions for economic growth. The foray into history revealed very few mergers and acquisitions in the years prior to bank consolidation (2004- 2005). The unprecedented numbers of mergers and acquisitions during bank consolidation prompted the adoption of this period in the assessment of the impact of mergers and acquisitions on banks’ performance. To achieve this, the study compared the pre and post consolidated performance of banks using seven years before (1997-2003) and seven years after (2004-2010) bank consolidation in Nigeria in the analysis. The study concludes that Nigerian banks performed slightly better after consolidation. Keywords: Mergers, acquisition, bank performance, consolidation

This study examined the effect of Foreign Portfolio Investment (FPI) on economic growth in Nigeri... more This study examined the effect of Foreign Portfolio Investment (FPI) on economic growth in Nigeria. The research design adopted was a combination of exploratory and ex post facto research designs. Secondary data were sourced from the Central Bank of Nigeria (CBN) statistical Bulletin for the period 2005 to 2014. Gross Domestic Product was used as dependent variable while Foreign Portfolio Investment, Market Capitalization as well as exchange rate for the period were the independent variables. Ordinary Least Square (OLS) multiple regression was used to analyze the data. The result indicated that Foreign Portfolio Investment (FPI) and market capitalization have positive effect on Real Gross Domestic Product (RGDP) while exchange rate had an inverse relationship with RGDP. Durbin-Watson Coefficient Test shows that there is absence of auto-correlation. Based on this result, the hull hypothesis is rejected implying that there is a positive relationship between FPI and RGDP. The result ag...

International Journal of Development and Management Review, 2008

international journal of research in computer application & management, 2015

Developing Country Studies, 2013

Account and Financial Management Journal, 2017

Scholedge International Journal of Business Policy & Governance ISSN 2394-3351, 2016

European Journal of Business and Management, 2012

International Journal of Finance and Accounting, 2012

Scholedge International Journal of Management & Development ISSN 2394-3378, 2017

Developing Country Studies, 2013

International Business and Management, 2011

The study examines the link between the intermediation activities of banks and the growth of th... more The study examines the link between the intermediation activities of banks and the growth of the Nigerian economy. This was motivated by the economic growth functions assigned banks by the regulatory and monetary authorities and the presence of opposing strands of literature and empirical studies suggesting that banks do not cause economic growth. The study, therefore, investigates this relationship using 1980-2008 data obtained from the Central Bank of Nigeria. Descriptive research methodology was used in conjunction with inferential statistics of correlation and regression analysis. To ensure that regression results were not spurious, diagnostic analyses to test for stationarity was carried out on the variables using Augmented
Dickey-Fuller (ADF) unit root test. Furthermore, to ascertain the presence of long-term relationships among the variables, Johansen cointegrating test with the Trace and Eigenvalue statistics were adopted. To correct for the short-run disequilibrium among variables, the Error Correction Mechanism (ECM) was used. Finally, in order to determine whether a causal relationship exists between financial intermediation by banks and economic growth and
the direction of such a relationship, the Granger Causality test was used. The results reveal that financial intermediation by banks is a poor predictor of economic growth in Nigeria and that no causal relationship exists between them. It was therefore suggested that since the poor predictive power of financial intermediation proxies implied the presence of more influential factors like infrastructure, electric power, road network, portable water and education that government should pay more attention to the development of these. Attention should also be paid to lowering lending rate and stabilizing inflation as these were identified to have adverse consequences on the
economic growth.