Several studies have revealed the importance of the entrepreneurial orientation (EO) concept in improving firm performance since its inception. However, because of the complications that small businesses face, there are still concerns about whether EO can improve their performance. This study investigated the effect of EO on the performance of small enterprises in Abuja, Nigeria. The objective of the study is to specifically assess the effect of the dimensions of EO viz. autonomy, innovativeness, proactiveness and risk-taking on the business performance of small enterprises in Abuja. The study made use of a survey research design to target a population of 2750 small enterprises in Abuja. Using the Taro Yamane formula, a sample size of 349 was obtained. Of the questionnaires randomly issued to the small enterprises, 338 were completed and returned representing a 96.84% response rate. The questionnaires contained closed-ended questions that were rated on a 5-point Likert scale. The data was then analysed using descriptive statistics and multiple linear regression. Arising from the result, the regression model was significant at 0.000 with the calculated value greater than the critical value (16.910>2.399), hence, the null hypothesis was rejected. It was concluded that, overall, EO has a significant effect on business performance. However, of the dimensions tested, autonomy is insignificant, while innovativeness, proactiveness and risk-taking are significant. The study recommends that entrepreneurial development initiative that aims at building the EO dimensions of small enterprises should focus on innovativeness, proactiveness and risk-taking, rather than autonomy.
Improvement of Business Performance through Entrepreneurial Orientationijtsrd
Entrepreneurial orientation is important factors needed by small and medium enterprises SMEs to face environmental challenges in a dynamic and competitive business world achieve business performance. This study aims to examine the effect of entrepreneurial orientation on business performance. The research sample of 117 culinary SMEs. Data was collected through a survey by distributing questionnaires and documentation. Data analysis techniques using structural equation modeling with the Partial Least Square PLS approach. The results showed that of entrepreneurial orientation had a significant positive effect on business. Asmawiyah | Afiah Mukhtar | Andi Rifqah Purnama Alam "Improvement of Business Performance through Entrepreneurial Orientation" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-6 , October 2020, URL: https://www.ijtsrd.com/papers/ijtsrd35740.pdf Paper Url: https://www.ijtsrd.com/management/randd-management/35740/improvement-of-business-performance-through-entrepreneurial-orientation/asmawiyah
The Conceptual Assessment of Malaysian Entrepreneurshipnabaz4u
This document summarizes a journal article about assessing the concept of entrepreneurship orientation (EO) in Malaysia and its economic contributions. It finds that while the Malaysian government supports entrepreneurship through programs and loans, applying EO dimensions has contributed less to economic growth compared to other countries. Key challenges include low repayment of loans and a lack of entrepreneurial knowledge and skills. For Malaysia to better realize the economic benefits of EO, entrepreneurs need more support to develop their businesses and increase profits to improve loan repayments, while the environment must continue supporting risk-taking and opportunities.
Characteristics of Nigerian Deposit Money Banks and Their Financial Outcomeijtsrd
The purpose of this research was to examine the connections between DMB profitability and various company characteristics in Nigeria. This study used panel data regression to evaluate five hypotheses on how market share, liquidity, credit risk, interest rate spread, and leverage affect bank profitability. Secondary data was gathered from the financial statements of the 19 deposit money banks listed on the international and local markets of the Nigerian Stock Exchange NSE between 2012 and 2021. The success of Nigerian banks is strongly influenced by their market share, liquidity, interest rate spread, and leverage. There was a connection between credit risk and ROA, however it was weak and not statistically significant. The report recommended that the Central Bank of Nigeria CBN create policies to enable banks increase their market share, rather than seeking to limit the number of firms in the banking sector. Dr. Confidence J. Ihenyen | Okpobo, Timinipre Joseph | Monron, Ezekiel Lawrence "Characteristics of Nigerian Deposit Money Banks and Their Financial Outcome" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-3 , June 2023, URL: https://www.ijtsrd.com.com/papers/ijtsrd56303.pdf Paper URL: https://www.ijtsrd.com.com/management/accounting-and-finance/56303/characteristics-of-nigerian-deposit-money-banks-and-their-financial-outcome/dr-confidence-j-ihenyen
On entrepreneurial success of small and medium enterprises (sm es) a conceptu...Alexander Decker
This document provides a conceptual and theoretical framework for studying entrepreneurial success of small and medium enterprises (SMEs) in Nigeria. It begins by reviewing literature on how entrepreneurial success has been defined, including both financial measures like profits, sales, growth, and non-financial measures like customer satisfaction and personal achievement. The document then examines different dimensions and indicators that have been used to measure entrepreneurial success, such as firm size and age, export sales, market share, and introduction of new products. Both internal factors like entrepreneur and firm characteristics, and external factors like economic conditions and government regulations are discussed as influencing entrepreneurial success. The goal of the document is to inform empirical research on factors influencing entrepreneurial success and appropriate measures of
The document summarizes a study on the impact of feasibility analysis on business growth in Computer Village, Lagos, Nigeria. The study found that conducting feasibility analysis was significantly related to business growth for businesses with more years of experience. Specifically:
1) A survey of 300 business owners found that 95% felt feasibility analysis contributed to business growth, with more experienced owners conducting better analyses.
2) Statistical analysis showed a significant relationship between years of experience and business growth, but not for gender or marital status.
3) The study concludes feasibility analysis is important for identifying strengths, weaknesses, opportunities, and threats, and recommends all businesses regularly conduct analyses to remain competitive.
Entrepreneurial Knowledge and Job Creation in Selected Small and Medium Enter...ijtsrd
Few studies have critically examined the impact of entrepreneurial expertise on job creation despite the abundance of research on Nigerias SME sector. This is because the skills required to start a firm differ from those required to run one. The study therefore examined the relationship between entrepreneurial knowledge and job creation in Edo State Nigeria. This studys primary goal is to find out how factors related to an entrepreneurial knowledge relate with job creation in Edo State. A cross sectional survey research design was used for this investigation. To investigate the link between the variables under inquiry, inferential statistics were employed. The results showed that entrepreneurial knowledge have a major impact on the creation of jobs in a specific group of SMEs in Edo State, Nigeria. Owner managers of the selected SMEs in Edo State to pay attention and resources to ensure that they upgrade their entrepreneurial knowledge so that it can enhance its capacity to create jobs for the citizens. Oguh Festus Aruoriwo | Iyamah Edward Enolunosen "Entrepreneurial Knowledge and Job Creation in Selected Small and Medium Enterprises (SMEs) in Edo State" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-6 , December 2023, URL: https://www.ijtsrd.com/papers/ijtsrd61309.pdf Paper Url: https://www.ijtsrd.com/management/business-administration/61309/entrepreneurial-knowledge-and-job-creation-in-selected-small-and-medium-enterprises-smes-in-edo-state/oguh-festus-aruoriwo
The Relationship between Financial Literacy Reporting and Profitability of Sm...ijtsrd
The research was carried out to empirically examine the effect of financial literacy reporting on the profitability of small scale enterprises in Bayelsa state, Nigeria. Sample of small scale enterprises in Yenagoa city of Bayelsa state was taken, Linear Regression with Ordinary Least Square was used to test the hypotheses with the aid of SPSS version 20.0. The findings of the study revealed that there is a significant relationship between financial literacy reporting and profitability of small scale enterprises. The study recommended that it is evident that financial behavior is an important contributor to profitability of SMEs, and that a statewide financial literacy week campaign be instituted by ministries and agencies in collaboration with SME and well targeted at business owners in rural areas, financial institutions should observe thoroughly the type of businesses, knowledge in the type of businesses etc. before granting loans to small scale enterprises, access to finance is not necessarily a route to success for small scale enterprises but crucially, they need mentorship and business skills transfer to make the transition to becoming established in the formal sector and, in addition to other recommendations, SMEs must hire financial experts to help them manage their businesses as well as to deal with the issue of financial record keeping. Okpobo Timinipre Joseph | Dr. Odogu Laime Isaac "The Relationship between Financial Literacy Reporting and Profitability of Small and Medium Enterprises in Bayelsa State" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-5 , October 2023, URL: https://www.ijtsrd.com/papers/ijtsrd60020.pdf Paper Url: https://www.ijtsrd.com/management/accounting-and-finance/60020/the-relationship-between-financial-literacy-reporting-and-profitability-of-small-and-medium-enterprises-in-bayelsa-state/okpobo-timinipre-joseph
The Effects of Entrepreneur Orientation and Strategic Agility on SMEs Busines...AJHSSR Journal
ABSTRACT : This research is expected to provide empirical evidence regarding the effect of entrepreneur
orientation and strategic agility on SME business performance during the recession due to the Covid-19
pandemic. A total of 135 respondents who are SME owners were asked to answer some questions in the form of
a questionnaire. The survey target is SMEs engaged in the manufacturing industry sector in Balikpapan City,
Indonesia. The data that has been collected will be tested using Smart-PLS Software. The results show that
entrepreneur orientation has no significant positive effect on business performance. Entrepreneur orientation has
a positive and significant effect on strategic agility. Strategic agility has a positive and significant effect on
business performance. Furthermore, the results also confirm that strategic agility plays a role in mediating the
relationship between entrepreneur orientation and business performance. This study is expected to help SME
owners, particularly the manufacturing sector, to understand the importance of strengthening entrepreneur
orientation and implementing strategic agility to maintain and improve business performance
KEYWORDS : Resources Base View (RBV), Entrepreneur Orientation, Strategic Agility, Business
Performance, Small and Medium Enterprises (SMEs).
Improvement of Business Performance through Entrepreneurial Orientationijtsrd
Entrepreneurial orientation is important factors needed by small and medium enterprises SMEs to face environmental challenges in a dynamic and competitive business world achieve business performance. This study aims to examine the effect of entrepreneurial orientation on business performance. The research sample of 117 culinary SMEs. Data was collected through a survey by distributing questionnaires and documentation. Data analysis techniques using structural equation modeling with the Partial Least Square PLS approach. The results showed that of entrepreneurial orientation had a significant positive effect on business. Asmawiyah | Afiah Mukhtar | Andi Rifqah Purnama Alam "Improvement of Business Performance through Entrepreneurial Orientation" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-6 , October 2020, URL: https://www.ijtsrd.com/papers/ijtsrd35740.pdf Paper Url: https://www.ijtsrd.com/management/randd-management/35740/improvement-of-business-performance-through-entrepreneurial-orientation/asmawiyah
The Conceptual Assessment of Malaysian Entrepreneurshipnabaz4u
This document summarizes a journal article about assessing the concept of entrepreneurship orientation (EO) in Malaysia and its economic contributions. It finds that while the Malaysian government supports entrepreneurship through programs and loans, applying EO dimensions has contributed less to economic growth compared to other countries. Key challenges include low repayment of loans and a lack of entrepreneurial knowledge and skills. For Malaysia to better realize the economic benefits of EO, entrepreneurs need more support to develop their businesses and increase profits to improve loan repayments, while the environment must continue supporting risk-taking and opportunities.
Characteristics of Nigerian Deposit Money Banks and Their Financial Outcomeijtsrd
The purpose of this research was to examine the connections between DMB profitability and various company characteristics in Nigeria. This study used panel data regression to evaluate five hypotheses on how market share, liquidity, credit risk, interest rate spread, and leverage affect bank profitability. Secondary data was gathered from the financial statements of the 19 deposit money banks listed on the international and local markets of the Nigerian Stock Exchange NSE between 2012 and 2021. The success of Nigerian banks is strongly influenced by their market share, liquidity, interest rate spread, and leverage. There was a connection between credit risk and ROA, however it was weak and not statistically significant. The report recommended that the Central Bank of Nigeria CBN create policies to enable banks increase their market share, rather than seeking to limit the number of firms in the banking sector. Dr. Confidence J. Ihenyen | Okpobo, Timinipre Joseph | Monron, Ezekiel Lawrence "Characteristics of Nigerian Deposit Money Banks and Their Financial Outcome" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-3 , June 2023, URL: https://www.ijtsrd.com.com/papers/ijtsrd56303.pdf Paper URL: https://www.ijtsrd.com.com/management/accounting-and-finance/56303/characteristics-of-nigerian-deposit-money-banks-and-their-financial-outcome/dr-confidence-j-ihenyen
On entrepreneurial success of small and medium enterprises (sm es) a conceptu...Alexander Decker
This document provides a conceptual and theoretical framework for studying entrepreneurial success of small and medium enterprises (SMEs) in Nigeria. It begins by reviewing literature on how entrepreneurial success has been defined, including both financial measures like profits, sales, growth, and non-financial measures like customer satisfaction and personal achievement. The document then examines different dimensions and indicators that have been used to measure entrepreneurial success, such as firm size and age, export sales, market share, and introduction of new products. Both internal factors like entrepreneur and firm characteristics, and external factors like economic conditions and government regulations are discussed as influencing entrepreneurial success. The goal of the document is to inform empirical research on factors influencing entrepreneurial success and appropriate measures of
The document summarizes a study on the impact of feasibility analysis on business growth in Computer Village, Lagos, Nigeria. The study found that conducting feasibility analysis was significantly related to business growth for businesses with more years of experience. Specifically:
1) A survey of 300 business owners found that 95% felt feasibility analysis contributed to business growth, with more experienced owners conducting better analyses.
2) Statistical analysis showed a significant relationship between years of experience and business growth, but not for gender or marital status.
3) The study concludes feasibility analysis is important for identifying strengths, weaknesses, opportunities, and threats, and recommends all businesses regularly conduct analyses to remain competitive.
Entrepreneurial Knowledge and Job Creation in Selected Small and Medium Enter...ijtsrd
Few studies have critically examined the impact of entrepreneurial expertise on job creation despite the abundance of research on Nigerias SME sector. This is because the skills required to start a firm differ from those required to run one. The study therefore examined the relationship between entrepreneurial knowledge and job creation in Edo State Nigeria. This studys primary goal is to find out how factors related to an entrepreneurial knowledge relate with job creation in Edo State. A cross sectional survey research design was used for this investigation. To investigate the link between the variables under inquiry, inferential statistics were employed. The results showed that entrepreneurial knowledge have a major impact on the creation of jobs in a specific group of SMEs in Edo State, Nigeria. Owner managers of the selected SMEs in Edo State to pay attention and resources to ensure that they upgrade their entrepreneurial knowledge so that it can enhance its capacity to create jobs for the citizens. Oguh Festus Aruoriwo | Iyamah Edward Enolunosen "Entrepreneurial Knowledge and Job Creation in Selected Small and Medium Enterprises (SMEs) in Edo State" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-6 , December 2023, URL: https://www.ijtsrd.com/papers/ijtsrd61309.pdf Paper Url: https://www.ijtsrd.com/management/business-administration/61309/entrepreneurial-knowledge-and-job-creation-in-selected-small-and-medium-enterprises-smes-in-edo-state/oguh-festus-aruoriwo
The Relationship between Financial Literacy Reporting and Profitability of Sm...ijtsrd
The research was carried out to empirically examine the effect of financial literacy reporting on the profitability of small scale enterprises in Bayelsa state, Nigeria. Sample of small scale enterprises in Yenagoa city of Bayelsa state was taken, Linear Regression with Ordinary Least Square was used to test the hypotheses with the aid of SPSS version 20.0. The findings of the study revealed that there is a significant relationship between financial literacy reporting and profitability of small scale enterprises. The study recommended that it is evident that financial behavior is an important contributor to profitability of SMEs, and that a statewide financial literacy week campaign be instituted by ministries and agencies in collaboration with SME and well targeted at business owners in rural areas, financial institutions should observe thoroughly the type of businesses, knowledge in the type of businesses etc. before granting loans to small scale enterprises, access to finance is not necessarily a route to success for small scale enterprises but crucially, they need mentorship and business skills transfer to make the transition to becoming established in the formal sector and, in addition to other recommendations, SMEs must hire financial experts to help them manage their businesses as well as to deal with the issue of financial record keeping. Okpobo Timinipre Joseph | Dr. Odogu Laime Isaac "The Relationship between Financial Literacy Reporting and Profitability of Small and Medium Enterprises in Bayelsa State" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-5 , October 2023, URL: https://www.ijtsrd.com/papers/ijtsrd60020.pdf Paper Url: https://www.ijtsrd.com/management/accounting-and-finance/60020/the-relationship-between-financial-literacy-reporting-and-profitability-of-small-and-medium-enterprises-in-bayelsa-state/okpobo-timinipre-joseph
The Effects of Entrepreneur Orientation and Strategic Agility on SMEs Busines...AJHSSR Journal
ABSTRACT : This research is expected to provide empirical evidence regarding the effect of entrepreneur
orientation and strategic agility on SME business performance during the recession due to the Covid-19
pandemic. A total of 135 respondents who are SME owners were asked to answer some questions in the form of
a questionnaire. The survey target is SMEs engaged in the manufacturing industry sector in Balikpapan City,
Indonesia. The data that has been collected will be tested using Smart-PLS Software. The results show that
entrepreneur orientation has no significant positive effect on business performance. Entrepreneur orientation has
a positive and significant effect on strategic agility. Strategic agility has a positive and significant effect on
business performance. Furthermore, the results also confirm that strategic agility plays a role in mediating the
relationship between entrepreneur orientation and business performance. This study is expected to help SME
owners, particularly the manufacturing sector, to understand the importance of strengthening entrepreneur
orientation and implementing strategic agility to maintain and improve business performance
KEYWORDS : Resources Base View (RBV), Entrepreneur Orientation, Strategic Agility, Business
Performance, Small and Medium Enterprises (SMEs).
Study on Factors Affecting the Financial Performance of Enterprisesijtsrd
The research objective of the article is study the factors affecting the financial performance of enterprises in Vietnam. Collected data are 189 observations published by the General Statistics Office from 2017 to 2019. The regression analysis results show that the financial performance of enterprises depends on five factors, including efficiency in using labor, financial leverage, capital turnover, fixed asset ratio, and total asset growth rate. In which, the factor of capital turnover has the most significant influence on the performance of enterprises. Based on the research results, the article proposes two managerial implications to improve the financial situation, including improving labor productivity and building a reasonable capital structure for enterprises. Dr. Dinh Cong Thanh | Dr. Pham Le Hong Nhung | BBA. Nguyen Thi Ngan "Study on Factors Affecting the Financial Performance of Enterprises" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-4 , June 2022, URL: https://www.ijtsrd.com/papers/ijtsrd50134.pdf Paper URL: https://www.ijtsrd.com/management/business-administration/50134/study-on-factors-affecting-the-financial-performance-of-enterprises/dr-dinh-cong-thanh
Firm Characteristics and Financial Performance Evidence from Quoted Manufactu...ijtsrd
This study ascertained the relationship between Firm Characteristics and Financial Performance with a focus on quoted manufacturing firms in Nigeria. The specific objectives are to ascertain the relationship between Leverage, Board Size, and Tobin's Q of quoted manufacturing firms in Nigeria from 2010 2019. This study employed the use of Panel Data and Ex post facto research design. Secondary data were sourced from the publications of Nigeria Stock Exchange NSE and annual reports and accounts of the sampled firms. The data analyses were done through descriptive and inferential statistics. Descriptive statistics was done using trend analysis and multiple comparison of mean standard deviation of variables. Multivariate linear regression analysis via E Views 9.0 statistical software was used to test the hypotheses. The findings of this study are inter alia leverage and board size has significant negative relationship with Tobin's Q at 5 level of significance. It was recommended amongst others that firms need to use proportionate debt financing in relation to total capital financing in order to reverse the inverse relationship between leverage and Tobin's Q. Therefore, firms need to use debt financing up to a point where any extra debt financing reduces net cost to the firm. Okafor, Tochukwu G. | Ossai, Eke Celestine "Firm Characteristics and Financial Performance: Evidence from Quoted Manufacturing Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47517.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/47517/firm-characteristics-and-financial-performance-evidence-from-quoted-manufacturing-firms-in-nigeria/okafor-tochukwu-g
Majority of SMEs collapse because they operate in business environment which is highly turbulent characterized by external factors as well as internal business factors. The study therefore sought to establish the effect of effect of product creation strategy on performance of small and medium enterprises in Eldoret town. The study was guided by Balanced Scorecard Theory. This study adopted descriptive research design. The target population of the study was 2,391 registered SMEs according to Uasin Gishu County government records and accessible population was 1764 respondents. The sample size for the respondents was therefore be 315. The study used questionnaires as the main tool for collecting data. The data collected was analyzed by using the excel program and Statistical Package for Social Science (SPSS) version 23. Data was analyzed using descriptive statistics such as mean, frequencies, percentages and standard derivation and inferential statistics which include correlation and multiple regressions. Data was presented by use of frequency tables, charts and graphs. The study findings a positive and significant effect of product creation strategy on small and medium enterprises in Eldoret Town (β=0.476, p<0.05). The study will be of benefit to management of medium enterprises and other organizations in understanding the challenges they would encounter when implementing various strategies and be able to come up with better ways of dealing with these challenges so as to be successful in their strategies. The study would be of importance to future researchers and scholars since it would be a source of material for their research and would also help them in identifying the research gaps they need to fill.
The document analyzes the financial performance of PT Yonly Glass, a glass processing and application company in Indonesia, over a 5-year period using profitability, solvency, and liquidity ratios. The profitability ratios, including gross profit margin, operating profit margin, and net profit margin, showed mostly positive and improving results ranging from 78-82%, 45-52%, and 37-43% respectively over the 5 years. The solvency ratios, debt to asset ratio and debt to equity ratio, decreased over time and remained below 0.05, indicating low debt levels. The liquidity ratios, including current ratio, quick ratio, and cash ratio, revealed the company to be in a stable liquid position. The
Working Capital Management and the Financial Performance of Basic Materials M...ijtsrd
The management of working capital involves managing inventories, accounts receivable and payable, and cash. Based on this assertion, this dissertation is to examine working capital management and the financial performance of basic materials manufacturing companies in Nigeria. The objective of the study is to examine the relationship between working capital management and financial performance of basic material manufacturing companies in Nigeria, The study is anchored with Fisher's separation theory. The study used ex post facto research design which also known as after the effect research, data analyses of financial information were extracted from the manufacturing companies Financial Statements for the years 2001 to 2015. These statements used to examine how an independent variable, present prior to the study, affects a dependent variable. In order to arrive at the testable conclusion, stratified random sampling techniques were adopted. Ordinary Least Square OLS regression model were used in this research work with the model findings, which revealed that debtors, creditors and inventory has no significant relationship with return on investment of manufacturing companies in Nigeria. The study therefore recommended that managers of basic material manufacturing companies in Nigeria should intensify effort on how to improve the management of debtor as a component of working capital components than creditors and inventories in their industry. Olaniyi, Ayo R | Nzewi, Ugochukwu C ""Working Capital Management and the Financial Performance of Basic Materials Manufacturing Companies in Nigeria"" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-2 , February 2020,
URL: https://www.ijtsrd.com/papers/ijtsrd30225.pdf
Paper Url : https://www.ijtsrd.com/management/accounting-and-finance/30225/working-capital-management-and-the-financial-performance-of-basic-materials-manufacturing-companies-in-nigeria/olaniyi-ayo-r
Performance Implication of Entrepreneurial Orientation in South Eastern Niger...YogeshIJTSRD
The performance of small and medium scale enterprises SMEs in Nigeria seem to be adversely affected as a result of poor entrepreneurial orientation, hence, the need to carry out this study to identify the extent of the relationship that exists between proactiveness and customers patronage of SMEs in South East, Nigeria. Survey research design was adopted for the study, with a target population of 35,535 SMEs in the study region. A sample of 396 respondents were selected through the application of Taro Yamane Formula. Data collection was carried out through a structured questionnaire, while the analysis of the collected data was handled using descriptive and inferential statistics. Hypothesis was tested 5 level of significance. The Result revealed that there is a positive significant relationship between the proactiveness of SMEs and customer patronage r= 0.55 p value 0.05 . The study, therefore, concluded that entrepreneurial orientation is a key part of the survival strategies of SMEs as the proactiveness of the SMEs go a long way in building confidence in customers and retaining their patronage. Sequel to this, it was recommended among others, that the management of small businesses should build their anticipatory capacity to be able to take proactive steps to remedy situations to avoid devastating effects in the future. Chinedu Cosmas Onyemesi | Faith Chidi Onwuchekwa | Chike Kanayo Nwosu "Performance Implication of Entrepreneurial Orientation in South-Eastern Nigeria: A Small and Medium Scale Enterprises Perspective" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd43930.pdf Paper URL: https://www.ijtsrd.com/management/business-economics/43930/performance-implication-of-entrepreneurial-orientation-in-southeastern-nigeria-a-small-and-medium-scale-enterprises-perspective/chinedu-cosmas-onyemesi
John Mathiang, Kartika Susilowati Manufacturing companies Bank and Policy 3 ...PublisherNasir
John Mathiang Machar Mathiang, Kartika Dewi Sri Susilowati (2022). The effect of financial ratios on the performance of manufacturing companies (case study on food and beverages companies listed on Idx in 2018-2020). Bank and Policy 2(3): 58-70
Entrepreneurial Orientation and Performance of Small and Medium Scale Enterpr...YogeshIJTSRD
Ineffective and poor entrepreneurial orientation seems to adversely affect performance of small and medium scale enterprises SMEs in Nigeria. Thus, the study was designed to examine relationship that exists between entrepreneurial orientation and performance of SMEs in South Eastern Nigeria. The study adopted a survey research design. The target population of the study comprised of 35,535 SMEs in South East Nigeria with a sample of 396 respondents, arrived at using Taro Yamane Formula. Data was collected using structured questionnaire and analyzed using, frequency, percentage and mean. Pearson Product Moment Correlation Coefficient was used to test the hypotheses at 5 level of significance. Results indicated that there exist a strong positive relationship between strategic orientation and market expansion of SMEs r=0.76, p value 0.05 and that there exist a strong positive relationship between market orientation and market sustainability of SMEs business activities r=0.83, p value 0.05 The study concluded that entrepreneurial orientation has positive impact on the performance of SMEs in South East Nigeria and recommended among others that SMEs need to embrace entrepreneurial orientation, strategic orientation and market orientation, to improve business performance. Chinedu Cosmas Onyemesi | Michael Augustine Ikon "Entrepreneurial Orientation and Performance of Small and Medium Scale Enterprises (SMES) in South-Eastern Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd43904.pdf Paper URL: https://www.ijtsrd.com/management/business-economics/43904/entrepreneurial-orientation-and-performance-of-small-and-medium-scale-enterprises-smes-in-southeastern-nigeria/chinedu-cosmas-onyemesi
This document provides a summary of a research paper on sustainability reporting in the context of small and medium enterprises (SMEs) in Kenya. The paper aims to conceptualize how SMEs can integrate sustainable development goals into their operations based on empirical evidence. It first reviews literature on sustainable development goals and constraints faced by SMEs, such as access to funding, limited information, and high compliance costs. It then proposes a theoretical model to show interactions between business activities, sustainability agendas, and financial performance, in order to progress knowledge and guide further research. The paper argues that meaningful engagement by SMEs requires understanding how sustainability relates to both business and financial outcomes based on real data.
16. the effect of entrepreneurial marketing onikhwanecdc
This document summarizes a research study that investigated the effect of entrepreneurial marketing (EM) strategy on the performance of small and medium enterprises (SMEs) in Bangladesh and the role of organizational culture (OC) in that relationship. The study conducted a survey of 384 SME owners in Bangladesh and tested hypotheses using structural equation modeling. The results found that EM strategy and OC were significantly related to Bangladeshi SME performance, and OC was found to mediate the relationship between EM and SME performance. The findings suggest EM strategy and organizational culture are important factors for boosting SME performance and sustainability in Bangladesh.
Intellectual capital: A modern model to measure the value creation in a businessAI Publications
Using a sample of 92 patients, this study looked into the impact of intellectual capital on the efficiency of private hospitals. The researchers used a quantitative approach to assess the effect of Intellectual capital (Human capital, Structural capital, and Relational capital) on long-term competitive advantage in private hospitals in Iraq's Kurdistan region. The research sample was selected using a random sampling method and conducted in various locations across Iraq's Kurdistan province. A total of 110 questionnaires were distributed, but only 92 people correctly completed them. The findings revealed that the most effective relationship with firm success was between human capital as an element of Intellectual capital, while the least effective relationship was between ownership as an element of Intellectual capital. Furthermore, our findings indicate that finance managers should use debts as a last resort in terms of intellectual capital. Finally, our research can be improved by using more controlled variables, a greater sample size, and data from a longer time span in the regression models. Other methods and steps can be used as well.
Equity investment financing is an innovative way of financing the real sector which has considerable developmental potential. The study empirically determined the effect of Equity investment financing on sustainable increase in productivity among agro-allied small businesses in South-South Nigeria. The instrument of data collection is the research questions structured in a five-point likert scale. The evaluation of the relationship between the dependent and independent variables was performed using the Ordinary Least Square regression technique. The study revealed that equity investment financing has a positive and significant effect on the sustainable productivity of businesses in Nigeria. The study recommended educating small business entrepreneurs on the benefits of equity financing as a viable option towards business growth and expansion and that the government through the various intervention agencies should restructure the long-term loan policies to give access to more growth-oriented agro-allied businesses, to increase their presently low capacity to procure heavy-duty technology to increase productivity and achieve food security in Nigeria. Small business owners should take advantage of the membership of cooperative societies and as well maintain good business relationships with suppliers; this will guarantee a continuous supply of needed materials and uninterrupted operations of the business.
This study empirically evaluates the performance of Nigeria's Small and Medium Enterprises Equity Investment Scheme (SMEEIS) using data from Benue and Nassarawa States from 1993 to 2008. The study found that there was no significant difference in bank loans to SMEs before and after the introduction of SMEEIS, and that the conditions for accessing SMEEIS funds were beyond the reach of most SMEs in Nigeria. This indicates that SMEEIS has not significantly impacted SME growth in Nigeria. The study recommends establishing a credit guarantee scheme with risk-sharing between the government and banks to encourage greater bank lending to SMEs and support their growth, development, and Nigeria's national economic
Financial Structure and the Financial Performance of Quoted Consumer Goods Fi...ijtsrd
The study investigated the effect of financial structure on the financial performance of quoted consumer goods firms in Nigeria. The study used profit after tax PAT to represented financial performance as the dependent variable while financial structure was disintegrated into Short Term Debt STD , Long Term Debt LTD , share capital SC and retained earnings RE as the independent variable. The data for the study were obtained from the Financial Statement and Annual Reports of the selected firms. The data set comprised fifty 50 observations comprising five year time series data spanning 2010 to 2019 from ten firms in the consumer goods sector. The panel regression technique based on Fixed and Random Effects were used for data analyses. The Hausman test showed that the Fixed Effect model is more suitable for the study. The findings revealed that STD and SC have significant positive effects on the PAT of consumer goods firms in Nigeria while LTD and RE were found to have positive but no significant effect on the PAT of consumer goods firms in Nigeria. The study conclude that b working capital management is an efficient tool for the consumer goods subsector in Nigeria. Among the contributions of the study is the use of all the four sources of funds and the use of profit after tax that tends to capture the overall effect of the various fund sources on the holistic profitability of the consumer goods firms. The recommendations included use of share capital for long term investment and working capital management for operations. Daniel, Prince Chinwendu | Dr. Joseph A. Nduka "Financial Structure and the Financial Performance of Quoted Consumer Goods Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-1 , December 2020, URL: https://www.ijtsrd.com/papers/ijtsrd37967.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/37967/financial-structure-and-the-financial-performance-of-quoted-consumer-goods-firms-in-nigeria/daniel-prince-chinwendu
Equity financing is one of the sources of funding available to non-bank financial institutions which is quite prevalent in developed financial markets for small or start-up firms. This study empirically determined the effect of the Equity Financing Scheme on a sustainable increase in productivity of agro-allied small businesses in Nigeria. Data for this study were elicited through the use of a questionnaire structured in a five-point likert scale. The evaluation of the relationship between the dependent and independent variables was performed using the Ordinary Least Square regression technique. The study revealed that the equity financing scheme had a positive and significant effect on the sustainable productivity of agro-allied small businesses in South-South Nigeria. The study recommended that efforts should be made to educate the small business entrepreneurs on the benefits of equity financing as a viable option towards business growth and expansion and that the government through the various intervention agencies should restructure the long-term loan policies to give access to more growth-oriented agro-allied businesses, to increase their presently low capacity to procure heavy-duty technology to increase productivity and achieve food security in Nigeria. Small business owners should take advantage of the membership of cooperative societies and as well maintain good business relationships with suppliers; this will guarantee a continuous supply of needed materials and uninterrupted operations of the business.
Small–medium enterprise formation and nigerian economic growthYing wei (Joe) Chou
This document discusses small-medium enterprises (SMEs) and their relationship to economic growth in Nigeria. It provides background on SMEs in Nigeria, noting they account for a large share of employment and output but the country still faces high unemployment, poverty, and low human development. The paper reviews literature on the importance of SMEs in creating jobs, innovation, and knowledge transfer. It also discusses theories of entrepreneurship and entrepreneurial development. The purpose is to empirically examine the link between SME formation, employment, and economic growth in Nigeria using statistical techniques like error correction modeling and cointegration testing.
Small–medium enterprise formation and nigerian economic growthYing wei (Joe) Chou
This document examines the relationship between small-medium enterprise (SME) formation and economic growth in Nigeria. It finds that while the number of SMEs in Nigeria has increased, leading to some economic growth, an increase in micro, small and medium enterprises has not contributed as much to development as existing businesses. The employment created by new SMEs has been the most important factor driving economic growth and reducing unemployment. The paper uses an error correction model approach to analyze how persistent increases in SME formation can improve Nigeria's economic growth and development over the long run.
The Influence of Good Corporate Governance Mechanisms, Liquidity, Firm Size, ...AJHSSR Journal
ABSTRACT : This study aims to determine the effect of Good Corporate Governance Mechanisms,Liquidity,
Firm Size, and Impact of Covid-19, on Firm Value with Financial Performance as a mediating variable. This
study uses secondary data from 35 sample banking companies listed on the Indonesian Stock Exchange for the
2017-2021 period. Sampling using purposive sampling technique. The research data analysis method uses SPSS
v.26 software. The results of this study are the Good Corporate Governance Mechanism (board of directors),
liquidity, and financial performance hava a significant effect on firm value. Meanwhile, the indirect effect of
firm size and impact of covid-19 has a significant effect on financial performance (mediation variable). From
the calculation of the sobel test and direct or indirect effect, its found that financial performance cannot mediate
form the GCG mechanisms, liquidity, firm size, and the impactof Covid-19 on firm value.
KEYWORDS : Good Corporate Governance Mechanisms, Financial Performance, Liquidity, Firm Value,
Firm Size
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online
This study examines the factors influencing the growth of micro and small enterprises in the Benishangul-Gumuz region of Ethiopia. The study found that initial investment, access to land, access to finance, location, sectoral engagement, market linkage, and business experience significantly explained enterprise growth. However, gender, education, ownership, formal recording, and financial management practices did not significantly determine enterprise growth. The results provide insights into how entrepreneurs in the emerging Benishangul-Gumuz region can address factors to develop their performance and contribute to employment, poverty alleviation, and women's empowerment.
The Statutory Interpretation of Renewable Energy Based on Syllogism of Britis...AI Publications
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Enhancement of Aqueous Solubility of Piroxicam Using Solvent Deposition SystemAI Publications
Piroxicam is a non-steroidal anti-inflammatory drug that is characterized by low solubility-high permeability. The present study was designed to improve the dissolution rate of piroxicam at the physiological pH's through its increased solubility by using solvent deposition system.
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This study ascertained the relationship between Firm Characteristics and Financial Performance with a focus on quoted manufacturing firms in Nigeria. The specific objectives are to ascertain the relationship between Leverage, Board Size, and Tobin's Q of quoted manufacturing firms in Nigeria from 2010 2019. This study employed the use of Panel Data and Ex post facto research design. Secondary data were sourced from the publications of Nigeria Stock Exchange NSE and annual reports and accounts of the sampled firms. The data analyses were done through descriptive and inferential statistics. Descriptive statistics was done using trend analysis and multiple comparison of mean standard deviation of variables. Multivariate linear regression analysis via E Views 9.0 statistical software was used to test the hypotheses. The findings of this study are inter alia leverage and board size has significant negative relationship with Tobin's Q at 5 level of significance. It was recommended amongst others that firms need to use proportionate debt financing in relation to total capital financing in order to reverse the inverse relationship between leverage and Tobin's Q. Therefore, firms need to use debt financing up to a point where any extra debt financing reduces net cost to the firm. Okafor, Tochukwu G. | Ossai, Eke Celestine "Firm Characteristics and Financial Performance: Evidence from Quoted Manufacturing Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47517.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/47517/firm-characteristics-and-financial-performance-evidence-from-quoted-manufacturing-firms-in-nigeria/okafor-tochukwu-g
Majority of SMEs collapse because they operate in business environment which is highly turbulent characterized by external factors as well as internal business factors. The study therefore sought to establish the effect of effect of product creation strategy on performance of small and medium enterprises in Eldoret town. The study was guided by Balanced Scorecard Theory. This study adopted descriptive research design. The target population of the study was 2,391 registered SMEs according to Uasin Gishu County government records and accessible population was 1764 respondents. The sample size for the respondents was therefore be 315. The study used questionnaires as the main tool for collecting data. The data collected was analyzed by using the excel program and Statistical Package for Social Science (SPSS) version 23. Data was analyzed using descriptive statistics such as mean, frequencies, percentages and standard derivation and inferential statistics which include correlation and multiple regressions. Data was presented by use of frequency tables, charts and graphs. The study findings a positive and significant effect of product creation strategy on small and medium enterprises in Eldoret Town (β=0.476, p<0.05). The study will be of benefit to management of medium enterprises and other organizations in understanding the challenges they would encounter when implementing various strategies and be able to come up with better ways of dealing with these challenges so as to be successful in their strategies. The study would be of importance to future researchers and scholars since it would be a source of material for their research and would also help them in identifying the research gaps they need to fill.
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Performance Implication of Entrepreneurial Orientation in South Eastern Niger...YogeshIJTSRD
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Ineffective and poor entrepreneurial orientation seems to adversely affect performance of small and medium scale enterprises SMEs in Nigeria. Thus, the study was designed to examine relationship that exists between entrepreneurial orientation and performance of SMEs in South Eastern Nigeria. The study adopted a survey research design. The target population of the study comprised of 35,535 SMEs in South East Nigeria with a sample of 396 respondents, arrived at using Taro Yamane Formula. Data was collected using structured questionnaire and analyzed using, frequency, percentage and mean. Pearson Product Moment Correlation Coefficient was used to test the hypotheses at 5 level of significance. Results indicated that there exist a strong positive relationship between strategic orientation and market expansion of SMEs r=0.76, p value 0.05 and that there exist a strong positive relationship between market orientation and market sustainability of SMEs business activities r=0.83, p value 0.05 The study concluded that entrepreneurial orientation has positive impact on the performance of SMEs in South East Nigeria and recommended among others that SMEs need to embrace entrepreneurial orientation, strategic orientation and market orientation, to improve business performance. Chinedu Cosmas Onyemesi | Michael Augustine Ikon "Entrepreneurial Orientation and Performance of Small and Medium Scale Enterprises (SMES) in South-Eastern Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd43904.pdf Paper URL: https://www.ijtsrd.com/management/business-economics/43904/entrepreneurial-orientation-and-performance-of-small-and-medium-scale-enterprises-smes-in-southeastern-nigeria/chinedu-cosmas-onyemesi
This document provides a summary of a research paper on sustainability reporting in the context of small and medium enterprises (SMEs) in Kenya. The paper aims to conceptualize how SMEs can integrate sustainable development goals into their operations based on empirical evidence. It first reviews literature on sustainable development goals and constraints faced by SMEs, such as access to funding, limited information, and high compliance costs. It then proposes a theoretical model to show interactions between business activities, sustainability agendas, and financial performance, in order to progress knowledge and guide further research. The paper argues that meaningful engagement by SMEs requires understanding how sustainability relates to both business and financial outcomes based on real data.
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Equity investment financing is an innovative way of financing the real sector which has considerable developmental potential. The study empirically determined the effect of Equity investment financing on sustainable increase in productivity among agro-allied small businesses in South-South Nigeria. The instrument of data collection is the research questions structured in a five-point likert scale. The evaluation of the relationship between the dependent and independent variables was performed using the Ordinary Least Square regression technique. The study revealed that equity investment financing has a positive and significant effect on the sustainable productivity of businesses in Nigeria. The study recommended educating small business entrepreneurs on the benefits of equity financing as a viable option towards business growth and expansion and that the government through the various intervention agencies should restructure the long-term loan policies to give access to more growth-oriented agro-allied businesses, to increase their presently low capacity to procure heavy-duty technology to increase productivity and achieve food security in Nigeria. Small business owners should take advantage of the membership of cooperative societies and as well maintain good business relationships with suppliers; this will guarantee a continuous supply of needed materials and uninterrupted operations of the business.
This study empirically evaluates the performance of Nigeria's Small and Medium Enterprises Equity Investment Scheme (SMEEIS) using data from Benue and Nassarawa States from 1993 to 2008. The study found that there was no significant difference in bank loans to SMEs before and after the introduction of SMEEIS, and that the conditions for accessing SMEEIS funds were beyond the reach of most SMEs in Nigeria. This indicates that SMEEIS has not significantly impacted SME growth in Nigeria. The study recommends establishing a credit guarantee scheme with risk-sharing between the government and banks to encourage greater bank lending to SMEs and support their growth, development, and Nigeria's national economic
Financial Structure and the Financial Performance of Quoted Consumer Goods Fi...ijtsrd
The study investigated the effect of financial structure on the financial performance of quoted consumer goods firms in Nigeria. The study used profit after tax PAT to represented financial performance as the dependent variable while financial structure was disintegrated into Short Term Debt STD , Long Term Debt LTD , share capital SC and retained earnings RE as the independent variable. The data for the study were obtained from the Financial Statement and Annual Reports of the selected firms. The data set comprised fifty 50 observations comprising five year time series data spanning 2010 to 2019 from ten firms in the consumer goods sector. The panel regression technique based on Fixed and Random Effects were used for data analyses. The Hausman test showed that the Fixed Effect model is more suitable for the study. The findings revealed that STD and SC have significant positive effects on the PAT of consumer goods firms in Nigeria while LTD and RE were found to have positive but no significant effect on the PAT of consumer goods firms in Nigeria. The study conclude that b working capital management is an efficient tool for the consumer goods subsector in Nigeria. Among the contributions of the study is the use of all the four sources of funds and the use of profit after tax that tends to capture the overall effect of the various fund sources on the holistic profitability of the consumer goods firms. The recommendations included use of share capital for long term investment and working capital management for operations. Daniel, Prince Chinwendu | Dr. Joseph A. Nduka "Financial Structure and the Financial Performance of Quoted Consumer Goods Firms in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-1 , December 2020, URL: https://www.ijtsrd.com/papers/ijtsrd37967.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/37967/financial-structure-and-the-financial-performance-of-quoted-consumer-goods-firms-in-nigeria/daniel-prince-chinwendu
Equity financing is one of the sources of funding available to non-bank financial institutions which is quite prevalent in developed financial markets for small or start-up firms. This study empirically determined the effect of the Equity Financing Scheme on a sustainable increase in productivity of agro-allied small businesses in Nigeria. Data for this study were elicited through the use of a questionnaire structured in a five-point likert scale. The evaluation of the relationship between the dependent and independent variables was performed using the Ordinary Least Square regression technique. The study revealed that the equity financing scheme had a positive and significant effect on the sustainable productivity of agro-allied small businesses in South-South Nigeria. The study recommended that efforts should be made to educate the small business entrepreneurs on the benefits of equity financing as a viable option towards business growth and expansion and that the government through the various intervention agencies should restructure the long-term loan policies to give access to more growth-oriented agro-allied businesses, to increase their presently low capacity to procure heavy-duty technology to increase productivity and achieve food security in Nigeria. Small business owners should take advantage of the membership of cooperative societies and as well maintain good business relationships with suppliers; this will guarantee a continuous supply of needed materials and uninterrupted operations of the business.
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This document discusses small-medium enterprises (SMEs) and their relationship to economic growth in Nigeria. It provides background on SMEs in Nigeria, noting they account for a large share of employment and output but the country still faces high unemployment, poverty, and low human development. The paper reviews literature on the importance of SMEs in creating jobs, innovation, and knowledge transfer. It also discusses theories of entrepreneurship and entrepreneurial development. The purpose is to empirically examine the link between SME formation, employment, and economic growth in Nigeria using statistical techniques like error correction modeling and cointegration testing.
Small–medium enterprise formation and nigerian economic growthYing wei (Joe) Chou
This document examines the relationship between small-medium enterprise (SME) formation and economic growth in Nigeria. It finds that while the number of SMEs in Nigeria has increased, leading to some economic growth, an increase in micro, small and medium enterprises has not contributed as much to development as existing businesses. The employment created by new SMEs has been the most important factor driving economic growth and reducing unemployment. The paper uses an error correction model approach to analyze how persistent increases in SME formation can improve Nigeria's economic growth and development over the long run.
The Influence of Good Corporate Governance Mechanisms, Liquidity, Firm Size, ...AJHSSR Journal
ABSTRACT : This study aims to determine the effect of Good Corporate Governance Mechanisms,Liquidity,
Firm Size, and Impact of Covid-19, on Firm Value with Financial Performance as a mediating variable. This
study uses secondary data from 35 sample banking companies listed on the Indonesian Stock Exchange for the
2017-2021 period. Sampling using purposive sampling technique. The research data analysis method uses SPSS
v.26 software. The results of this study are the Good Corporate Governance Mechanism (board of directors),
liquidity, and financial performance hava a significant effect on firm value. Meanwhile, the indirect effect of
firm size and impact of covid-19 has a significant effect on financial performance (mediation variable). From
the calculation of the sobel test and direct or indirect effect, its found that financial performance cannot mediate
form the GCG mechanisms, liquidity, firm size, and the impactof Covid-19 on firm value.
KEYWORDS : Good Corporate Governance Mechanisms, Financial Performance, Liquidity, Firm Value,
Firm Size
International Journal of Business and Management Invention (IJBMI)inventionjournals
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This study examines the factors influencing the growth of micro and small enterprises in the Benishangul-Gumuz region of Ethiopia. The study found that initial investment, access to land, access to finance, location, sectoral engagement, market linkage, and business experience significantly explained enterprise growth. However, gender, education, ownership, formal recording, and financial management practices did not significantly determine enterprise growth. The results provide insights into how entrepreneurs in the emerging Benishangul-Gumuz region can address factors to develop their performance and contribute to employment, poverty alleviation, and women's empowerment.
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Minds and Machines: Impact of Emotional Intelligence on Investment Decisions ...AI Publications
In the evolving landscape of financial decision-making, this study delves into the intricate relationships among Emotional Intelligence (EI), Artificial Intelligence (AI), and Investment Decisions (ID). By scrutinizing the direct influence of human emotional intelligence on investment choices and elucidating the mediating role of AI in this process, our research seeks to unravel the complex interplay between minds and machines. Through empirical analysis, we reveal that EI not only directly impacts ID but also exerts its influence indirectly through AI-mediated pathways. The findings underscore the pivotal role of emotional awareness in investor decision-making, augmented by the technological capabilities of AI. It suggests that most investors are influenced by the identified emotional intelligence when making investment decisions. Furthermore, AI substantially impacts investors' decision-making process when it comes to investing; nevertheless, AI partially mediates the relationship between emotional intelligence and investment decisions. This nuanced understanding provides valuable insights for financial practitioners, policymakers, and researchers, emphasizing the need for holistic strategies that integrate emotional and technological dimensions in navigating the intricacies of modern investment landscapes. As the synergy between human intuition and artificial intelligence becomes increasingly integral to financial decision-making, this study contributes to the ongoing discourse on the symbiotic relationship between minds and machines in investments.0
Bronchopulmonary cancers are common cancers with a poor prognosis. It is the leading cause of death by cancer in Algeria and in the world. Behind this unfavorable prognosis hides numerous disparities according to age, sex, and exposure to risk factors, ranking 4th among incident cancers and developing countries including Algeria, all sexes combined. It ranks 2nd cancers in men and 3rd among women. Whatever the age observed, the incidence of this cancer is higher in men than in women, however the gap is narrowing to the detriment of the latter. The results of scientific research agree to relate trends in incidence and mortality rates to tobacco consumption, including passive smoking. Furthermore, other risk factors are mentioned such as exposure to asbestos in the workplace or to radon for the general population, or even genetic predisposition. However, the weight of these etiological and/or predisposing factors is in no way comparable to that of tobacco in the genesis of lung cancer and the resulting mortality. We provide a literature review in our article on the descriptive and analytical epidemiology of lung cancer.
Further analysis on Organic agriculture and organic farming in case of Thaila...AI Publications
The objective of this paper is to present Further analysis on Organic agriculture and organic farming in case of Thailand agriculture and enhancing farmer productivity. In view of the demand for organic fertilizers, efforts should also be made to enhance and to develop more effective of compost, bio-fertilizer, and bio-pesticides currently used by farmers. Likewise, emphasis should also be laid on the cultivation of legumes and other crops that can enhance the fertility of the soil, as practiced by farmers in many developing countries to fertilize their lands. On the other hand, most of the farmers who practice this farm system found that they are adopting a number of SLMs and interested in joining the meeting or training to gain more and more knowledge.
Current Changes in the Role of Agriculture and Agri-Farming Structures in Tha...AI Publications
The objective os this study is to present Current Changes in the Role of Agriculture and Agri-Farming Structures in Thailand and Vietnam with SLM practices. Farmer’s adoption and investment in SLM is a key for controlling land degradation, enhancing the well-being of society, and ensuring the optimal use of land resources for the benefit of present and future generations (World Bank, 2006; FAO, 2018). And agriculture remains an essential element of lives of many farmers in term of the strong cultural and symbolic values that attach current working generation to do and to spend time for it but not intern of income generating.
Growth, Yield and Economic Advantage of Onion (Allium cepa L.) Varieties in R...AI Publications
Haphazard and low soil fertility, low yielding verities and poor agronomic practices are among the major factors constraining onion production in the central rift valley of Ethiopia. Therefore, a field experiment was conducted in East Showa Zone of Adami Tulu Jido Combolcha district in central rift valley areas at ziway from October 2021 to April 2022 to identify appropriate rate of NPSB fertilizer and planting pattern of onion varieties. The experiment was laid out in split plot design of factorial arrangement in three replications. The main effect of NPSB blended fertilizer rates and varieties (red coach and red king) significantly (p<0.01) influenced plant height, leaf length, leaf diameter, leaf number and fresh leaf weight, shoot dry matter per plant, and harvest index. Total dry biomass, bulb diameter, neck diameter, average fresh bulb weight, bulb dry matter, marketable bulb yield, and total bulb yield were significantly (p<0.01) influenced only by the main effect of NPSB blended fertilizer rates. In addition, unmarketable bulb yield was statistically significantly affected (p≥0.05) by the blended fertilizer rates and planting pattern. Moreover, days to 90% maturity of onion was affected by the main factor of NPSB fertilizer rate, variety and planting pattern. The non-fertilized plants in the control treatment were inferior in all parameters except unmarketable bulb yield and harvest index. Significantly higher marketable bulb yield (41 t ha-1) and total bulb yield (41.33 t ha-1) was recorded from 300 kg ha-1 NPSB blended fertilizer rate applied. Double row planting method and hybrid red coach onion variety had also gave higher growth and yields. The study revealed that the highest net benefit of Birr, 878,894 with lest cost of Birr 148,006 by the combinations of 150 kg blended NPSB ha-1 with double row planting method (40cm*20cm*7cm) and red coach variety which can be recommendable for higher marketable bulb yield and economic return of hybrid onion for small scale farmers in the study area. Also, for resource full producers (investors), highest net benefit of Birr 1,205,372 with higher cost (159,628 Birr) by application of 300 kg NPSB ha-1 is recommended as a second option. However, the research should be replicated both in season and areas to more verify the recommendations.
Evaluation of In-vitro neuroprotective effect of Ethanolic extract of Canariu...AI Publications
The ethanolic extract of canarium solomonense leaves (ecsl) was studied for its neuroprotective activity. The neuroprotective activity of ECSL was found to have a significant impact on neuronal cell death triggered by hydrogen peroxide (MTT assay) in human SH-SY5Y neuroblastoma cells. Scopolamine, a muscarinic receptor blocker, is frequently used to induce cognitive impairment in laboratory animals. Injections of scopolamine influence multiple cognitive functions, including motor function, short-term memory, and attention. Using the Morris water maze, the Y maze, and the passive avoidance paradigm, memory enhancing activity in scopolamine-induced amnesic rats was evaluated. Using the Morris water maze, the Y maze, and the passive avoidance paradigm, ECSL was found to have a substantial effect on the memory of scopolamine- induced amnesic rats. Our experimental data indicated that ECSL can reverse scopolamine induced amnesia and assist with memory issues.
The goal of neuroprotection is to shield neurons against damage, whether that damage is caused by environmental factors, pathogens, or neurodegenerative illnesses. Inhibiting protein-based deposit buildup, oxidative stress, and neuroinflammation, as well as rectifying abnormalities of neurotransmitters like dopamine and acetylcholine, are some of the ways in which medicinal herbs have neuroprotective effects [1-3]. This review will focus on the ways in which medicinal herbs may protect neurons.
A phytochemical and pharmacological review on canarium solomonenseAI Publications
The genus Canarium L. consists of 75 species of aromatic trees which are found in the rainforests of tropical Asia, Africa and the Pacific. The medicinal uses, botany, chemical constituents and pharmacological activities are now reviewed. Various compounds are tabulated according to their classes their structures are given. Traditionally canarium solomonense have been used to treat a broad array of illnesses. Pharmacological actions for canarium solomonense as discussed in this review include antibacterial, antimicrobial, antioxidant, anti-inflammatory, hepatoprotective and antitumor activity.
Influences of Digital Marketing in the Buying Decisions of College Students i...AI Publications
This research investigates the influence of digital marketing channels on purchasing decisions among college students in Ramanathapuram District. The study highlights that social media marketing, online advertising, and mobile marketing exhibit substantial positive effects on purchase decisions. However, email marketing's impact appears to be more complex. Moreover, the study explores how demographic variables like gender and academic level shape these effects. Notably, freshman students display varying susceptibility to specific digital marketing messages compared to their junior, senior, or graduate counterparts. These findings offer crucial insights for marketers aiming to tailor their strategies effectively to the preferences and behaviors of college students. By understanding the differential impacts of various digital marketing channels and considering demographic nuances, marketers can refine their approaches, optimize engagement, and ultimately enhance the effectiveness of their campaigns in targeting this demographic.
A Study on Performance of the Karnataka State Cooperative Agriculture & Rural...AI Publications
The Karnataka State Co-operative Agriculture and Rural Development Bank Limited is the apex bank of all the primary co-operative agriculture and rural development banks in the state. All the PCARD Banks in the state are affiliated to it. The KSCARD Bank provides financial accommodation to the PCARD Banks for their lending operations. In order to quick sanction and disbursement of loans and supervision over the PCARD Banks the KSCARD Bank has opened district level branches. Bank has established Women Development Cell to promote entrepreneurship among women in 2005. The Bank is identifying women borrowers in the rural areas by assigning suitable projects to motivate their self-confidence to lead independent life. Progress made in financing women entrepreneurs women.
Breast hamartoma is a rare, well-circumscribed, benign lesion made up of a variable quantity of glandular, adipose and fibrous tissue. This is a lesion that can affect women at any age from puberty. With the increasingly frequent use of imaging methods such as mammography and ultrasound as well as breast biopsy, cases of hamartoma diagnosed are increasing. The diagnosis of these lesions is made by mammography. The histological and radiological aspects are variable and depend on its adipose tissue content. The identification of these lesions is important in order to avoid surgical excisions. We report radio-clinical and pathological records of breast hamartoma.
A retrospective study on ovarian cancer with a median follow-up of 36 months ...AI Publications
Ovarian cancer is relatively common but serious and has a poor prognosis. The aim of this study is to highlight the epidemiological, diagnostic, therapeutic and evolutionary aspects of this malignant pathology managed at the Bejaia university hospital center. This is a retrospective and descriptive study over a period of 3 years (2019 - 2022) carried out on 20 patients who developed ovarian cancer. The average age of the patients was 50 years old, 53.23% of whom were over 45 years old. The CA-125 blood test was positive in 18 out of 20 patients. The tumors were discovered on ultrasound in 87.10% of cases and at laparotomy in 12.90%. Total hysterectomy with bilateral adnexectomy was the most performed procedure (64.52%). The early postoperative course was simple. 15 patients underwent second look surgery (16.13%) for locoregional recurrences. Epithelial tumors were the most frequent histological type (93.55%), including 79% in the advanced stage ( IIIc -IV) and 21% in the early stage (Ia- Ib ). Adjuvant chemotherapy was administered in 80% of patients. With a median follow-up of 36 months, 2 patients were lost to follow-up. The evolution was favorable in 27.42% and in 25.81% deaths occurred late postoperatively. Ovarian cancer is not common but serious given the advanced stages and the high rate of late postoperative deaths which were largely observed in patients deprived of adequate neoadjuvant or adjuvant chemotherapy.
More analysis on environment protection and sustainable agriculture - A case ...AI Publications
This study presents a case of tea and coffee crops , esp. environment protection and sustainable agriculture in Son La and Thai Nguyen of Vietnam. Research results show us that The process of having an agricultural product goes through many steps such as planting, planning, harvesting, packing, transporting, storing and distributing. - The State adopts policies to encourage innovation of agricultural production models and methods towards sustainability, adapting to climate change, saving water, and limiting the use of inorganic fertilizers and pesticides. chemicals and products for environmental treatment in agriculture; develop environmentally friendly agricultural models. Our research limitation is that we can expand for other crops, industries and markets as well.
Assessment of Growth and Yield Performance of Twelve Different Rice Varieties...AI Publications
The present investigation entitled “Assessment of growth and yield performance of twelve different rice varieties under north Konkan coastal zone of Maharashtra” was carried out during the kharif season of the year 2021 and 2022 on the field of ASPEE, Agricultural Research and Development Foundation, Tansa Farm, At Nare, Taluka Wada, District Palghar, Maharashtra, India. The experiment was laid out in Randomized Block Design (RBD). The twelve varieties namely Zini, Jaya, Dandi, Rahghudya, Govindbhog, Dangi, Gurjari, VNR-7, VNR-8, VNR-9, Karjat-3, and Karjat-5 were replicated thrice. The plant height (cm), number of tillers per plant, number of panicles per plant, number of panicles (m²), and length of panicle (cm) were noted to the maximum with cv. “VNR-7”. The highest number of seeds per panicle, test weight (gm), grain yield (q/ha), and straw yield (q/ha) were recorded with the cv. “VNR-7”. While the lowest number of days to 50% flowering was also recorded with cv. “VNR-7” during the year 2021 and 2022.
Cultivating Proactive Cybersecurity Culture among IT Professional to Combat E...AI Publications
In the current digital landscape, cybercriminals continually evolve their techniques to execute successful attacks on businesses, thus posing a great challenge to information technology (IT) professionals. While traditional cybersecurity approaches like layered defense and reactive security have helped IT professionals cope with traditional threats, they are ineffective in dealing with evolving cyberattacks. This paper focuses on the need for a proactive cybersecurity culture among IT professionals to enable them combat evolving threats. The paper emphasis that building a proactive security approach and culture can help among IT professionals anticipate, identify, and mitigate latent threats prior to them exploiting existing vulnerabilities. This paper also points out that as IT professionals use reactive security when dealing with traditional attacks, they can use it collaboratively with proactive security to effectively protect their networks, data, and systems and avoid heavy costs of dealing with cyberattack’s aftermaths and business recovery.
The Impacts of Viral Hepatitis on Liver Enzymes and BilrubinAI Publications
Viral hepatitis is an infection that causes liver inflammation and damage. Several different viruses cause hepatitis, including hepatitis A, B, C, D, and E. The hepatitis A and E viruses typically cause acute infections. The hepatitis B, C, and D viruses can cause acute and chronic infections. Hepatitis A causes only acute infection and typically gets better without treatment after a few weeks. The hepatitis A virus spreads through contact with an infected person’s stool. Protection by getting the hepatitis A vaccine. Hepatitis E is typically an acute infection that gets better without treatment after several weeks. Some types of hepatitis E virus are spread by drinking water contaminated by an infected person’s stool. Other types are spread by eating undercooked pork or wild game. Hepatitis B can cause acute or chronic infection. Recommendation for screening for hepatitis B in pregnant women or in those with a high chance of being infected. Protection from hepatitis B by getting the hepatitis B vaccine. Hepatitis C can cause acute or chronic infection. Doctors usually recommend one-time screening of all adults ages 18 to 79 for hepatitis C. Early diagnosis and treatment can prevent liver damage. The hepatitis D virus is unusual because it can only infect those who have a hepatitis B virus infection. A coinfection occurs when both hepatitis D and hepatitis B infections at the same time. A superinfection occurs already have chronic hepatitis B and then become infected with hepatitis D. The aim of this study is to find the effect of each type of viral hepatitis on the bilirubin (TB , DSB) , and liver enzymes; AST, ALT, ALP,GGT among viral hepatitis patients. 200 patients were selected from the viral hepatitis units in the central public health laboratory in Baghdad city, all the chosen cases were confirmed as a positive samples , they are classified into four equal group each with fifty individual and with a single serological viral hepatitis type either; anti-HAV( IgM ) , HBs Ag , anti-HCV ,or anti-HEV(IgM ). All patients were tested for; serum bilirubin ( TB ,D.SB ) , AST , ALT , ALP , GGT. Another fifty quite healthy and normal person was selected as a control group for comparison. . Liver enzymes and bilirubin changes are more pronounced in HAV, HEV than HCV and HBVAST and ALT lack some sensitivity in detecting HCV ,HBV and mild elevations of ALT or AST in asymptomatic patients can be evaluated efficiently by considering ,hepatitis B, hepatitis C. ALT is generally a more sensitive indicator of acute liver cell damage than AST, It is relatively specific for hepatocyte necrosis with a marked elevations in viral hepatitis. Liver enzymes and bilirubin changes are more pronounced in HAV, HEV than HCV and HBV.AST and ALT lack some sensitivity in detecting HCV ,HBV and mild elevations of ALT or AST in asymptomatic patients can be evaluated efficiently by considering ,hepatitis B, hepatitis C. ALT is generally a more sensitive indicator of acute liver
Determinants of Women Empowerment in Bishoftu Town; Oromia Regional State of ...AI Publications
The purpose of this study was to determine the status of women's empowerment and its determinants using women's asset endowment and decision-making potential as indicators. To determine representative sample size, this study used a two-stage sampling technique, and 122 sample respondents were selected at random. To analyze the data in this study, descriptive statistics and a probit model were used. The average women's empowerment index was 0.41, indicating a relatively lower status of women's empowerment in the study area. According to the study's findings, only 40.9% of women were empowered, while the remaining 59.1% were not. The probit model results show that women's access to the media, women's income, and their husbands' education status have a significant and positive impact on the status of women's empowerment, while the family size of households has a negative impact. As a result, it is important to enhance women's access to the media and income, promote family planning and contraception, and improve men's educational status in order to improve the status of women's empowerment.
Storytelling is an incredibly valuable tool to share data and information. To get the most impact from stories there are a number of key ingredients. These are based on science and human nature. Using these elements in a story you can deliver information impactfully, ensure action and drive change.
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Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
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Implicitly or explicitly all competing businesses employ a strategy to select a mix
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involves recognizing relationships between elements of the marketing mix (e.g.,
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(i.e., industry structure in the language of economics).
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Understanding User Needs and Satisfying ThemAggregage
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We know we want to create products which our customers find to be valuable. Whether we label it as customer-centric or product-led depends on how long we've been doing product management. There are three challenges we face when doing this. The obvious challenge is figuring out what our users need; the non-obvious challenges are in creating a shared understanding of those needs and in sensing if what we're doing is meeting those needs.
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• Introduce a taxonomy for user goals with real world examples
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The Evolution and Impact of OTT Platforms: A Deep Dive into the Future of Ent...ABHILASH DUTTA
This presentation provides a thorough examination of Over-the-Top (OTT) platforms, focusing on their development and substantial influence on the entertainment industry, with a particular emphasis on the Indian market.We begin with an introduction to OTT platforms, defining them as streaming services that deliver content directly over the internet, bypassing traditional broadcast channels. These platforms offer a variety of content, including movies, TV shows, and original productions, allowing users to access content on-demand across multiple devices.The historical context covers the early days of streaming, starting with Netflix's inception in 1997 as a DVD rental service and its transition to streaming in 2007. The presentation also highlights India's television journey, from the launch of Doordarshan in 1959 to the introduction of Direct-to-Home (DTH) satellite television in 2000, which expanded viewing choices and set the stage for the rise of OTT platforms like Big Flix, Ditto TV, Sony LIV, Hotstar, and Netflix. The business models of OTT platforms are explored in detail. Subscription Video on Demand (SVOD) models, exemplified by Netflix and Amazon Prime Video, offer unlimited content access for a monthly fee. Transactional Video on Demand (TVOD) models, like iTunes and Sky Box Office, allow users to pay for individual pieces of content. Advertising-Based Video on Demand (AVOD) models, such as YouTube and Facebook Watch, provide free content supported by advertisements. Hybrid models combine elements of SVOD and AVOD, offering flexibility to cater to diverse audience preferences.
Content acquisition strategies are also discussed, highlighting the dual approach of purchasing broadcasting rights for existing films and TV shows and investing in original content production. This section underscores the importance of a robust content library in attracting and retaining subscribers.The presentation addresses the challenges faced by OTT platforms, including the unpredictability of content acquisition and audience preferences. It emphasizes the difficulty of balancing content investment with returns in a competitive market, the high costs associated with marketing, and the need for continuous innovation and adaptation to stay relevant.
The impact of OTT platforms on the Bollywood film industry is significant. The competition for viewers has led to a decrease in cinema ticket sales, affecting the revenue of Bollywood films that traditionally rely on theatrical releases. Additionally, OTT platforms now pay less for film rights due to the uncertain success of films in cinemas.
Looking ahead, the future of OTT in India appears promising. The market is expected to grow by 20% annually, reaching a value of ₹1200 billion by the end of the decade. The increasing availability of affordable smartphones and internet access will drive this growth, making OTT platforms a primary source of entertainment for many viewers.
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accounted for up to 70% of Nigerian government revenue
and more than 90% of the country’s export earnings
(Giokos, 2017). However, when the global crude oil price
fell below a 25-year low in 2016, the country plunged into
a recession in the first quarter (Ipinnaiye, 2017). According
to Giokos (2017), the lack of diversity in Nigeria’s economy
was why the country could not withstand the economic
shock during the 2016 global crude oil price drop, hence,
steps must be taken to diversify the country’s economy in
order to welcome growth. Ipinnaiye (2017), averred that the
Nigerian government should provide strong policy support
in areas such as financing and developing the
entrepreneurial orientation of small and medium-sized
enterprises (SMEs) to drive the country toward realising its
potential.
Meanwhile, when the Nigerian economy entered recession
in 2016, the Federal Government of Nigeria (FGN) unveiled
the Economic Recovery and Growth Plan (ERGP) 2017-
2020. One of the ERGP’s three broad objectives was to
strengthen the economy’s human capital base (Ministry of
Budget & National Planning, 2017). This prompted the
FGN to use agencies such as the Small and Medium
Enterprises Development Authority of Nigeria (SMEDAN)
to launch a series of campaigns aimed at increasing SMEs’
entrepreneurial orientation to stimulate the SMEs sub-sector
(SMEDAN & NBS, 2017). In Abuja, the FGN, in
collaboration with SMEDAN, launched a campaign to train
and develop the entrepreneurial skills of 10,000 youths in
order to revitalise the economy (Vanguard, 2016).
However, according to Akyuz and Opusunju (2020), most
of the SMEs go into extinction after two to five years or die
within this period. In the same vein, PwC (2020), conducted
a survey that revealed that, while approximately 31% of
small businesses in Nigeria experienced above 20% growth
between 2016 and 2020, 24% of SMEs experienced no
growth or even shrank in size. The remaining 46% either
did not have up to 20% growth or were less than three years
old. This indicates that several small businesses in Nigeria,
particularly in Abuja, are dying before five years. As a
result, it is unclear what effect entrepreneurial orientation
has on the performance of small businesses in Abuja,
Nigeria.
Extant studies have identified entrepreneurial orientation
(EO) as a critical factor for organisational success, leading
to higher performance (Rezaei & Ortt, 2018). Organizations
with higher levels of EO are also expected to outperform
those with lower levels of EO (Watson et al., 2019). After
all, a higher level of EO enables enterprises to identify and
capitalise on opportunities in ways that set them apart from
non-entrepreneurial organisations. However, this is not
always the case, as other researchers (Nikraftar & Momeni,
2017; Souisa, 2018) have shown that EO can be
insignificant or have a negative impact on business
performance. As a result, there is no universal agreement or
conclusion regarding the relationship between EO and
business performance. Meanwhile, whilst this disparity
exists globally, coherent research linking four EO
dimensions (autonomy, innovativeness, proactiveness and
risk-taking) is very scarce in Nigeria. Since only a handful
of research has been conducted on this study in Nigeria,
there is a knowledge and empirical gap in the understanding
of this issue concerning the Abuja region of Nigeria. This
study is therefore an attempt to address empirical,
knowledge and regional gaps in the existing literature on the
inter-relationship of entrepreneurial orientation and the
performance of small enterprises.
The main objective of the study is to empirically investigate
the effect of entrepreneurial orientation on the performance
of small enterprises in Abuja. Other specific objectives of
the study are to examine the effect of autonomy,
innovativeness, proactiveness and risk-taking on the
business performance of small enterprises in Abuja. In line
with the aforementioned objectives, the study hypothesized
as follows:
H01: There is no significant relationship between autonomy
and the performance of small enterprises in Abuja.
H02: There is no significant relationship between
innovativeness and the performance of small
enterprises in Abuja.
H03: There is no significant relationship between
proactiveness and the performance of small
enterprises in Abuja.
H04: There is no significant relationship between risk-
taking and the performance of small enterprises in
Abuja
II. LITERATURE REVIEW
Conceptual Framework: Entrepreneurial Orientation
and Small Enterprises Performance
Entrepreneurial Orientation (EO) is a business-level
planned positioning that highlights the firm’s strategy-
making procedures, management ideologies, and
entrepreneurial firm behaviours. It is also shown as the
process through which small enterprises or large companies
gain entry into a new market (Stambaugh et al., 2017). It is
pertinent to note that whilst EO may have flooded the firm’s
strategy space in contemporary times, it is not exactly a new
concept. Miller (1983), was the first to bring the notion of
Entrepreneurial Orientation to the scholarly literature, even
though he did not use the word EO in his first article (Covin
& Lumpkin, 2011). Miller (1983), suggested a definition of
an entrepreneurial orientation as one that participates in
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product-market innovation, takes on relatively risky
projects and is the first to come up with proactive ideas,
beating competitors to the punch. Miller (1983), defined the
three primary elements of EO as innovativeness, risk-
taking, and proactivity, which are frequently combined to
form a higher-order indication of firm-level
entrepreneurship (Rauch et al., 2009).
Based on Miller’s (1983) work, Covin and Slevin (1989),
developed the EO concept, which was widely used in both
entrepreneurial and management literature (Wales, et al.,
2021). Covin and Slevin (1989), postulated that the three
characteristics of EO viz. innovation, proactiveness, and
risk-taking, acted together to constitute a fundamental,
unidimensional strategic orientation and should be
aggregated together while doing entrepreneurship research.
They created a nine-item self-response scale, which has
become one of the most used tools for measuring the degree
of EO in companies; with a huge number of researchers
using it (Rauch et al., 2009). Lumpkin and Dess (1996),
later elaborated on five areas that distinguish a firm’s EO
viz. autonomy, competitive aggressiveness, innovativeness,
proactiveness and risk-taking. However, building on
Lumpkin and Dess’ (1996) work, some recent scholars
(Kura, 2019; Kiyabo & Isaga, 2020) have apportioned
competitive aggressiveness—a proxy of competitive
advantage as an intervening variable, hence, cannot be
statistically regarded as independent variable according to
Sharma et al. (1981).
Therefore, the dimensions of entrepreneurial orientation
could be regarded as majorly consisting of autonomy,
innovativeness, proactiveness and risk-taking. Regarding
Autonomy, employees who are autonomous can perform
effectively because they are independent, self-directed,
motivated, and creative. Innovation encompasses the
proclivity to participate in and support the generation of new
ideas, distinguished by originality, experimentation, and
creative processes resulting in the manufacture of new or
modified products. Proactiveness demonstrates the firm’s
efforts to capitalise on and respond quickly to any
anticipated evolving opportunities. While, Risk-taking is
the willingness to commit resources to venture activities and
projects with uncertain outcomes (Ibrahim & Abu, 2020).
To effectively capture the EO of small enterprises, these EO
dimensions should be considered.
Meanwhile, measuring small enterprises’ performance is an
essential topic, particularly in entrepreneurship research,
because it allows researchers and business practitioners to
examine and discover new strategies to help small
businesses grow and contribute to the economy (Isichei et
al., 2019). According to SMEDAN and NBS (2017), SMEs
generally refer to businesses whose employee and asset base
numbers fall below and/or within defined limits. More
specifically, the Bank of Industry (2015), established that
small enterprises have between 11 and 50 employees and/or
an asset base of between above ₦5 million and ₦100
million. To effectively capture small enterprises’
performance with regards to their EO, there is a need to
evaluate their financial performance (e.g. sales volume
and/or profitability) and nonfinancial performance (e.g.,
product and service quality and/or customer satisfaction)
(Lumpkin & Dess, 1996).
Arising from the concepts reviewed, the study developed a
conceptual model for the variables. Fig. 2.1 depicts a
conceptual framework of the relationship between EO and
small enterprises’ performance.
Fig. 2.1.: Conceptual Framework of the Relationship between Entrepreneurial Orientation and Small Enterprises
Performance
Source: Researchers’ Depiction, 2022.
From Fig. 2.1., entrepreneurial orientation indicants such as
autonomy, innovativeness, proactiveness and risk-taking
served as the independent variable and; small enterprises’
performance served as the dependent variable. The arrow in
the diagram shows that the two variables may be related by
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cause and effect—if the independent variable changes, then
the dependent variable is affected.
Empirical Studies
In the bid to directly, associate the EO dimensions with
business performance, Amin (2015), investigated the effects
of entrepreneurial orientation and learning orientation on
SMEs’ performance. A total of 200 SMEs from the
electronics and electrical sectors, as well as, 250 SMEs from
the food and beverage industries in Malaysia were surveyed
at random for the research. Following structural equation
modelling with partial least square (SEM-PLS) approach,
Amin (2015), estimated the complex cause-effect
relationships between the study variables. The study
showed at 1% significance that the EO dimensions
(innovativeness, proactiveness, and risk-taking) and
learning orientation have a substantial link with the
performance of SMEs; make a significant contribution to
SMEs’ performance. Whilst the study by Amin (2015) at a
1% significance level reflected high strength of evidence in
probabilistic terms, the researcher failed to confirm the
fitness model through a Confirmatory Factor Analysis
(CFA). This would have helped to confirm or reject the
measurement theory. Nonetheless, the study model could be
adopted among large corporations to generalise the findings
of the study.
Musthofa et al. (2017), sought to contribute to the extant
literature on the effect of the EO dimensions of
innovativeness, proactiveness and risk-taking on business
performance. The study included respondents from
embroidery SMEs in Kudus Regency. The sample size was
153 and purposive sampling was used to collect the data.
Like Amin (2015), Musthofa et al. (2017) followed the
SEM-PLS approach but used Cronbach alpha to ascertain
that their research instrument was reliable. The statistical
analysis of the research model on each hypothesis revealed
that, first, an innovative EO had a significant effect on
business performance; second, a proactive EO had no
significant effect on business performance; and third, a risk-
taking EO had a significant effect on business performance.
This revealed that not all the dimensions of EO could be
significant. Whilst Musthofa et al. (2017), used a robust
research methodology to study the research variables,
considering the limited number of the sample (153 people),
the SEM-PLS approach may not be too ideal. Kock and
Hadaya (2018), averred that the minimum required sample
size for a PLS-SEM analysis is about 265 persons based on
the Monte Carlo simulation. Hence, there is a need to study
the EO dimension with a greater sample, perhaps it may be
the reason why proactiveness is insignificant in this study.
Nikraftar and Momeni (2017), investigated the relationships
between entrepreneurial, market and learning orientation
and business performance. The data was gathered using
questionnaires from 384 senior managers in Iran. The
findings indicate that market and learning orientation have
a significant effect on performance, while EO has no
significant effect on business performance. According to the
data, learning orientation is the most important predictor of
business performance among all other antecedents. More
specifically, the findings indicate that higher levels of
learning orientation result in better levels of growth and
profitability. Contrary to the works of Musthofa et al.
(2017), Nikraftar and Momeni (2017), showed that the EO
dimension may be insignificant in affecting business
performance. However, their data is limited to the
information and communications technology enterprises, as
such, subsequent research must corroborate these
conclusions in other industries.
Souisa (2018), sought to determine the impact of
entrepreneurship and market orientation on business
performance. The respondents of the study were 150
business actors in the floriculture business in Bandung City,
Indonesia. They employed a descriptive and explanatory
survey research design, which aimed to learn about the
description of the research topic, as well as, the
characteristics and correlations between variables. SEM-
PLS was employed to carry out an analysis of the data.
According to the findings of the study by Souisa (2018),
entrepreneurial and market orientation have no direct or
significant influence on business performance. Even though
SEM-PLS is a good approach towards investigating the EO
dimensions, Kock and Hadaya (2018), have revealed that it
is not too effective on small sample sizes, which is
something Souisa (2018) failed to take cognisance of. Also,
Souisa (2018), failed to test the reliability and validity of
their research questionnaire. Nonetheless, the work by
Souisa (2018), showed a contrasting view that the EO
dimensions may be insignificant towards the business
performance of firms.
Watson et al. (2019), examined the direct relationship
between EO and the performance of franchise firms. They
took cognisance of national culture in their study and
researched the EO dimensions of risk-taking,
innovativeness, proactiveness, autonomy and competitive
aggressiveness of the firm—in line with Lumpkin and Dess
(1996). The sample size consisted of 378 franchise
organisations from Australia, France, India, South Africa
and the United Kingdom. The analysis of covariance
(ANCOVA) was used to examine the main and interaction
effects of the variables. The findings indicated that EO has
a significant effect on business performance and that the EO
rhetoric in franchise businesses changes depending on the
country’s cultural environment. However, of the five EO
dimensions tested, proactiveness was found to be
insignificant like in the works of Musthofa et al. (2017).
Whilst Watson et al. (2019), with the use of ANCOVA,
considered other variables to capture cultural complexes in
their research, they failed to test the reliability and validity
of their research instrument. As such, it is not quite clear
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whether the data collected is consistent or accurate to
measure the variables. Nonetheless, the study is ground-
breaking research that demonstrates how national culture
affects the EO dimension used in franchise firms.
The empirical studies reviewed sought to assess the
relationship between the EO dimensions and enterprises’
performance which gave mixed results. Whilst it was
believed that organizations with higher levels of EO will
outperform those with lower levels of EO (Amin, 2015;
Musthofa et al., 2017; Watson et al., 2019), other studies
(Nikraftar & Momeni, 2017; Souisa, 2018) showed that EO
could be insignificant or negatively influence business
performance. Hence, no unanimous consensus on the
relationship between EO and business performance. This
has preponderated the need for more study on the EO-
performance relationship, especially focusing on small
enterprises. Because only a few studies on this topic have
been undertaken in Nigeria, there is a knowledge and
empirical gap in the understanding of this issue in Abuja
which is the Federal Capital Territory of Nigeria.
Theoretical Framework
The major theory that is chosen for this research is the
Knowledge-Based View also regarded as the Knowledge-
Based Theory (KBT), which emphasizes the knowledge of
entrepreneurs or small business owners as the main resource
needed for good performance. Conner (1991), was the first
to historical compare the Resource-Based Theory and five
schools of thought within industrial organization economics
and suggested the Knowledge-Based Theory as a new
theory. Grant (1996), amongst other scholars at the time,
provided a detailed exposition of the firm’s Knowledge-
Based Theory. Grant (1996) proposes that the establishment
of heterogeneous knowledge structures across a firm’s
management hierarchies is a necessary condition for
achieving long-term knowledge-based competitive
advantage. Other KBT proponents argued that because
knowledge-based resources are typically difficult to imitate
and are socially complex, heterogeneous knowledge bases
and capabilities among firms are the primary determinants
of sustained competitive advantage and superior corporate
performance (Curado & Bontis, 2006).
The main drawback of the KBT is the potential for
conflicting interests between employee conditions and
owner expectations, which can impede the smooth
coordination of specialised knowledge (Grant, 1996). As a
result, firms seeking to entrench uniformity of interests may
be forced to pursue coordination of specialised knowledge,
which may result in the bureaucratic imposition of
coordination objectives via hierarchical structures (another
drawback). Nonetheless, this study still relies on the KBT
because it provides a strong link between how the owner-
managers of small enterprises use knowledge as the bases
of their entrepreneurial orientation that creates competitive
advantage and, in turn, affects their performance.
III. METHODOLOGY
The study adopted the survey research design which relies
on responses gotten from primary data. The population of
the study comprised all the 2750 small enterprises in Abuja
Nigeria according to SMEDAN and NBS (2017) and this
was also used to calculate the sample size using the Taro
Yamane formula as developed by Yamane (1967):
n =
N
1+ N(e)2
Where: n = sample size; N = population; e = degree of error
expected. With a degree of error expected at 0.05 and a
population at 2750 it brings the proposed sample size to
about 349 as computed below:
n =
2750
1+ 2750(0.05)2
n =
2750
1+ 2750(0.0025)
n =
2750
1+ 6.875
n =
2750
7.875
n = 349.21 ≈ 349
Of the 349 questionnaires issued, 338 were completed and
returned representing a 96.84% response rate. The
questionnaires contained closed-ended questions because
they were easier and faster for respondents to answer. The
research questions in the survey were scored on a 5-point
Likert scale of “Strongly Agree (5), Agree (4), Undecided
(3), Disagree (2) and Strongly Disagree (1).”
The questionnaire is one of the data collection methods
chosen since it is inexpensive and does not take as much
work from the questioner as verbal or telephone surveys.
The facial cogency of the questionnaire utilised in this study
was analysed and studied. Meanwhile, the facial cogency
was achieved by carefully inspecting the arrangement and
structure of the questionnaire.
The administered surveys were tested to confirm their
reliability. The method used for testing for the internal
consistency was the Cronbach’s Alpha, which is computed
with the model:
α =
Nr
1+ r(N − 1)
Where: α = Cronbach Alpha; N = the number of items in the
scale; r = the mean inter-item correlation.
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Table 3.1.: Result of Reliability Test
Number of Items
Cronbach’s Alpha
Co-efficient
Effect of Autonomy (AT) 4 0.81
Effect of Innovativeness (IN) 4 0.76
Effect of Proactiveness (PA) 4 0.75
Effect of Risk-taking (RT) 5 0.80
Business Performance (BP) 3 0.72
Source: Researchers’ Computation, 2022
In the context of this research, the levels of alpha values are
higher than the 0.7 thresholds that were regarded as
reliable—Cronbach’s Alpha > 0.70 (Field, 2009).
SPSS version 25 was used to analyse the primary data. The
descriptive statistics were the mean and standard deviation,
whilst the inferential statistics was a Multiple Linear
Regression analysis to assess the influence of the
independent variable on the dependent variable. The
statistical model used was:
y = a + bx + ε (3.1)
This is specified thus as:
BP = α + β1AT + β2IN + β3PA + β4RT + ε (3.2)
Where, BP = Business performance (Dependent variable);
AT = Autonomy (independent variable 1); IN =
Innovativeness (independent variable 2); PA =
Proactiveness (independent variable 3); RT = Risk-taking
(independent variable 4); α = Intercept or constant; β =
Coefficient; the slope of the regression line with respect to
the independent variables; ε = Error term.
IV. DATA PRESENTATION AND ANALYSIS
Descriptive Statistics
To establish the effect of Entrepreneurial Orientation (EO)
on the Business Performance (BP) of small enterprises, a
Likert scale was used to gather data on the degree of
agreement on a scale of 1 to 5, with 1 being the strongly
disagree indicator and 5 being the strongly agree indicator.
The gathered responses were analysed using means and
standard deviations to demonstrate the diversity of
individual replies from the aggregate mean of the responses
for each variable of the research.
Table 4.1.: Effect of Autonomy (AT)
Mean Standard Deviation
In general, my organization’s senior management prefers letting
individuals and/or teams make their own decisions about which business
prospects to pursue.
4.10 0.9687
Individuals and/or teams seeking business prospects in my organisation
make decisions on their own without continually consulting their bosses.
3.48 0.6392
Individual and/or team efforts that work autonomously are supported in
my organisation.
4.17 0.9797
The CEO and senior management team at my organisation have a
significant role in discovering and selecting the entrepreneurial
possibilities that my organisation pursues.
3.54 0.7171
Source: Researchers’ Computation, 2022
The result in Table 4.1. show the mean responses on the
autonomy of the small enterprises in Abuja. From table 4.1,
the respondents agreed (Mean = 4.10; Standard Deviation =
0.9687) that in general, their organization’s senior
management prefers letting individuals and/or teams make
their own decisions about which business prospects to
pursue. Likewise, the respondents slightly agreed (Mean =
3.48; Standard Deviation = 0.6392) that individuals and/or
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teams seeking business prospects in my organisation make
decisions on their own without continually consulting their
bosses. Also, the respondents agreed (Mean = 4.17;
Standard Deviation = 0.9797) that individual and/or team
efforts that work autonomously are supported in their
organisation. Finally, the respondents equally slightly
agreed (Mean = 3.54; Standard Deviation = 0.7171) that the
CEO and senior management team at their organisation
have a significant role in discovering and selecting the
entrepreneurial possibilities that their organisation pursues.
Table 4.2.: Effect of Innovativeness (IN)
Mean Standard Deviation
In my organisation, changes in products or services have been mostly
major.
4.15 1.0987
In my organisation, there is a preference to design our own unique new
processes and methods of operations.
4.03 0.9257
In general, the top managers of my organisation favour experimentation
and original approaches to problem-solving.
4.12 0.9334
In my organisation, new products or services have been marketed in the
past five years (or since the organisation’s establishment).
4.18 1.0667
Source: Researchers’ Computation, 2022
The result in Table 4.2. show the mean responses on the
innovativeness of the small enterprises in Abuja. From table
4.2, the respondents agreed (Mean = 4.15; Standard
Deviation = 1.0987) that in their organisation, changes in
products or services have been mostly major. Likewise, the
respondents agreed (Mean = 4.03; Standard Deviation =
0.9257) that in their organisation, there is a preference to
design our own unique new processes and methods of
operations. Also, the respondents agreed (Mean = 4.12;
Standard Deviation = 0.9334) that in general, the top
managers of their organisation favour experimentation and
original approaches to problem-solving. Finally, the
respondents equally agreed (Mean = 4.18; Standard
Deviation = 1.0667) that in their organisation, new products
or services have been marketed in the past five years (or
since the organisation’s establishment).
Table 4.3.: Effect of Proactiveness (PA)
Mean Standard Deviation
In general, the top managers of my organisation favour a strong tendency
to quickly “follow the leader” in introducing new products or ideas.
4.17 0.8463
Our firm constantly looks for businesses that can be acquired. 4.21 0.8155
In dealing with its competitors, my organisation is often the first business
to introduce new products/services, administrative techniques, operating
technologies etc.
4.25 0.9422
In dealing with its competitors, my organisation typically responds to
actions that competitors initiate.
4.10 1.0700
Source: Researchers’ Computation, 2022
The result in Table 4.3. show the mean responses on the
proactiveness of the small enterprises in Abuja. From table
4.3, the respondents agreed (Mean = 4.17; Standard
Deviation = 0.8463) that in general, the top managers of
their organisation favour a strong tendency to quickly
“follow the leader” in introducing new products or ideas.
Likewise, the respondents agreed (Mean = 4.21; Standard
Deviation = 0.8155) that their firm constantly looks for
businesses that can be acquired. Also, the respondents
agreed (Mean = 4.25; Standard Deviation = 0.9422) that in
dealing with its competitors, their organisation is often the
first business to introduce new products/services,
administrative techniques, operating technologies etc.
Finally, the respondents agreed (Mean = 4.10; Standard
Deviation = 1.0700) that in dealing with its competitors,
their organisation typically responds to actions that
competitors initiate.
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Table 4.4.: Effect of Risk-taking (RT)
Mean Standard Deviation
In general, the top managers of my organisation have a strong
propensity/proclivity for high-risk projects, with chances of high returns.
4.13 0.7472
In general, the top managers of my organisation favour exploring via
incremental behaviour in achieving the organisation’s objectives due to
the nature of the environment.
4.17 0.7372
When confronted with decision-making situations involving uncertainty,
my organisation typically adopts a risky posture to maximise the
probability of making a profit.
4.18 0.8706
In general, the top managers of my organisation are quick to deploy
resources toward solving a problem without thoroughly solving it.
3.81 0.9268
Owing to the nature of the environment, bold and wide-ranging actions
are required to achieve the firm’s objectives.
4.16 0.9609
Source: Researcher’s Computation, 2022
The result in Table 4.4. show the mean responses on risk-
taking of the small enterprises in Abuja. From table 4.4, the
respondents agreed (Mean = 4.13; Standard Deviation =
0.7472) that in general, the top managers of their
organisation have a strong propensity/proclivity for high-
risk projects, with chances of high returns. Likewise, the
respondents agreed (Mean = 4.17; Standard Deviation =
0.7372) in general, the top managers of their organisation
favour exploring via incremental behaviour in achieving the
organisation’s objectives due to the nature of the
environment. Also, the respondents agreed (Mean = 4.18;
Standard Deviation = 0.8706) that when confronted with
decision-making situations involving uncertainty, their
organisation typically adopts a risky posture to maximise
the probability of making a profit. Also, the respondents
agreed (Mean = 3.81; Standard Deviation = 0.9268) that in
general, the top managers of their organisation are quick to
deploy resources toward solving a problem without
thoroughly solving it. Finally, the respondents equally
agreed (Mean = 4.16; Standard Deviation = 0.9609) that
owing to the nature of the environment, bold and wide-
ranging actions are required to achieve the firm’s
objectives.
Table 4.5.: Business Performance (BP)
Mean Standard Deviation
Over the last 5 years, the firm’s value of assets has improved 4.51 0.8788
Over the last 5 years, the annual sales of our firm have improved 4.43 0.8242
Over the last 5 years, the firm has been having happy returning customers.4.16 1.0413
Source: Researchers’ Computation, 2022
The result in Table 4.5. show the mean responses on
business performance of the small enterprises in Abuja.
From table 4.5, the respondents strongly agreed (Mean =
4.51; Standard Deviation = 0.8788) that over the last 5
years, their firm’s value of assets has improved. Likewise,
the respondents agreed (Mean = 4.43; Standard Deviation =
0.8242) that over the last 5 years, their firm’s annual sales
have improved. Finally, the respondents equally agreed
(Mean = 4.16; Standard Deviation = 1.0413) that over the
last 5 years, their firm has been having happy returning
customers.
Multiple Linear Regression Analysis
The model and hypotheses were tested at a 0.05 significance
level. Table 4.6. shows a model summary that is used to
measure how well the regression model fits the data.
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Table 4.6.: Model Summary
Model Summary
Model R R Square
Adjusted R
Square
Standard Error
of the Estimate
1 0.738a
0.545 0.539 2.298
a. Predictors: (Constant), AT, IN, PA, RT
Source: Researchers’ Computation, 2022
As shown in Table 4.6, the Multiple R of 0.738, indicates a
strong linear effect on the independent variable
(Entrepreneurial Orientation (EO)) and the dependent
variable (Business Performance (BP)). The model also has
an R Square of 0.545 meaning that the independent variable
explains 54.5% of the variability of the dependent
variable—it further shows that other proxies that may affect
the business performance (BP) of small enterprises not
tested in the study amount to about 45.5%. The Adjusted R
Square was 0.539, an indication that there was a variation
of 53.9% in the Business Performance of small enterprises
due to changes in their Entrepreneurial Orientation. The
Standard Error of the Estimate shows that the observed
values fall an average of 2.298 units from the regression
line.
Table 4.7.: Analysis of Variance (ANOVA)
ANOVAa
Model Sum of Squares df Mean Square F Sig.
1 Regression 262.784 4 65.696 16.910 0.000b
Residual 1,293.705 333 3.885
Total 1,556.489 337
a. Dependent Variable: BP
b. Predictors: (Constant), AT, IN, PA, RT
Source: Researchers’ Computation, 2022
From the ANOVA table (Table 4.7), the processed data had
a significance level of 0.000, which shows that the data is
ideal for concluding the population parameters as the value
of significance (p-value) is less than 0.05. More so, the
calculated value was greater than the critical value
(16.910>2.399)—an indication that there was a significant
effect of entrepreneurial orientation on the business
performance of small enterprises.
Table 4.8: Coefficient of Determination
Coefficientsa
Model
Unstandardized
Coefficients
Standardized
Coefficients
t Sig.
B Std. Error Beta
1 (Constant) 25.388 2.886 8.796 0.000
Autonomy (AT) 0.136 0.149 0.304 0.912 0.108
Innovativeness (IN) 0.803 0.211 1.004 3.803 0.000
Proactiveness (PA) 0.719 0.167 0.935 4.305 0.013
Risk-taking (RT) 0.493 0.189 0.601 2.606 0.000
a. Dependent Variable: BP
Source: Researchers’ Computation, 2022
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From Table 4.8, and in line with the Equation (3.2), the
statistical model could be represented as:
25.388 = α + 0.136AT + 0.803IN + 0.719PA + 0.493RT +
ε (4.1)
Following Table 4.8, it was revealed that holding the
Entrepreneurial Orientation (EO) to a constant zero, the
Business Performance (BP) of small enterprises would
stand at 25.388. Nevertheless, the EO dimensions are as
follows: A unit increase in Autonomy (AT) would not affect
the Business Performance (BP) of small enterprises by a
factor of 0.136; since AT is insignificant at 0.108 (greater
than the 0.05 decision rule). On the contrary, a unit increase
in Innovativeness (IN) would lead to an increase in BP by a
factor of 0.803; with IN being significant at 0.000.
Furthermore, a unit increase in Proactiveness (PA) would
significantly lead to an increase in the BP by a factor of
0.719; with PA being significant at 0.013. Also, a unit
increase in Risk-taking (RT) would significantly lead to an
increase in the BP by a factor of 0.493; with RT being
significant at 0.000. This shows that innovativeness has the
leading positive effect on small enterprises’ business
performance, followed by proactiveness and risk-taking.
Autonomy, on the other hand, has no effect on small
enterprises’ business performance.
Table 4.9.: Summary of Hypotheses
Hypothesis Statement Model Result
H01: There is no significant relationship between autonomy and
the performance of small enterprises in Abuja.
EP = α + β1AT + ε p>0.05 Accepted
H02: There is no significant relationship between innovativeness
and the performance of small enterprises in Abuja.
EP = α + β2IN + ε p<0.05 Rejected
H03: There is no significant relationship between proactiveness
and the performance of small enterprises in Abuja.
EP = α + β3PA + ε p<0.05 Rejected
H04: There is no significant relationship between risk-taking and
the performance of small enterprises in Abuja
EP = α + β4FT + ε p<0.05 Rejected
Source: Researchers’ Result, 2022
From Table 4.9, the null hypothesis for hypotheses 2, 3 and
4 is rejected in favour of the alternate hypotheses. Whereas,
the hull hypothesis for hypothesis 1 is accepted.
V. CONCLUSIONS AND RECOMMENDATIONS
Conclusions
It is very vital for small enterprises to have their
entrepreneurial orientation (EO) fortified as this study has
shown that overall, entrepreneurial orientation has a
significant effect on business performance. Regarding the
domains of EO measured, the results from the study have
shown that EO could be significantly measured by three
domains, which conform to the positions of Miller (2011)
and Amin (2015).
The result of the study indicates that innovativeness has the
leading positive effect on small enterprises’ business
performance closely followed by proactiveness and then
risk-taking. However, autonomy was found to be
insignificant. Consequently, it can be concluded from this
study that there is a strong association between
innovativeness and proactiveness domains of EO, such that
a small enterprise with a good drive for innovation will also
likely be very proactive. More so, such a small enterprise
would equally have the habit of taking a little bit of risk.
Autonomy is part of the EO domains tested in this study
following the recommendation by Watson et al. (2019),
however, it failed to have a significant effect on the
performance of small enterprises in Abuja, Nigeria. This
implies that an entrepreneurial development initiative been
carried out for small enterprises in Abuja that focuses on
building the autonomy domain of EO would have no effect.
This, in turn, could be regarded as probably part of the cause
of the problem of small enterprises dying in less than 5 years
(Akyuz & Opusunju, 2020) or not growing (PwC, 2020) in
Abuja—even with the efforts to develop their EO. Hence,
the solution to the problem, in line with this study,
encompasses carrying out entrepreneurial development
initiatives that focus on building the other EO dimensions
such as innovativeness, proactiveness and risk-taking,
rather than autonomy.
VI. RECOMMENDATIONS
The study recommends that entrepreneurial development
initiative that aims at building the EO dimensions of small
enterprises, should focus on innovativeness, proactiveness
and risk-taking, rather than autonomy. After all, autonomy
has no significant effect on small enterprises’ performance.
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Since innovativeness has the leading positive effect on the
business performance of small enterprises, the study
recommends that owner-managers of small enterprises
should carry out regular innovative changes in products or
services; prefer to design their own unique new processes
and methods of operations; favour experimentation and
original approaches to problem-solving and; regularly
market new products or services. Such a stand has the
leading effect in boosting the value of assets, sales and
customer satisfaction of small enterprises.
Also, because proactiveness positively affects the business
performance of small enterprises, the study recommends
that owner-managers of small enterprises should favour the
tendency to quickly “follow the leader” in introducing new
products or ideas and constantly looks for businesses that
can be acquired. In dealing with its competitors, small
enterprises should strive often to be the first to introduce
new products/services, administrative techniques, operating
technologies etc. and; typically responds to actions that
competitors initiate.
Finally, because risk-taking positively affects the business
performance of small enterprises, the study recommends
that owner-managers of small enterprises should have a
strong propensity/proclivity for high-risk projects, with
chances of high returns; favour exploring via incremental
behaviour in achieving the organisation’s objectives due to
the nature of the environment and; when confronted with
decision-making situations involving uncertainty, typically
adopts a risky posture to maximise the probability of
making a profit. After all, risk-taking enables and
encourages innovation and proactiveness, which can be an
important product/service differentiator that can culminate
in higher business performance in small enterprises.
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