The drivers of the competitiveness of firms in the non-financial sector: Evidence from Nigeria
This study examines the key determinants of the competitiveness of firms in Nigeria. It draws the firm-level (i.e. firm-specific characteristics) data and macro-data (environmental factors) from the annual reports and accounts of non-financial listed firms and the Statistical Bulletin of the Central...
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| Format: | Article |
| Language: | English |
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University of Kragujevac
2020-08-01
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| Series: | Economic Horizons |
| Subjects: | |
| Online Access: | https://horizonti.ekfak.kg.ac.rs/sites/default/files/Casopis/2020_2/EH_2020_2_en_3_FAA.pdf |
| _version_ | 1797743813039489024 |
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| author | Fatai Abiodun Atanda Florence Olubunmi Osemene |
| author_facet | Fatai Abiodun Atanda Florence Olubunmi Osemene |
| author_sort | Fatai Abiodun Atanda |
| collection | DOAJ |
| description | This study examines the key determinants of the competitiveness of firms in Nigeria. It draws the firm-level (i.e. firm-specific characteristics) data and macro-data (environmental factors) from the annual reports and accounts of non-financial listed firms and the Statistical Bulletin of the Central Bank of Nigeria, respectively. In addition, it employs descriptive, inferential and econometric tools to analyze the data. The results reveal that the age of a firm, its productive assets, profitability and the capital expenditure ratio of the government enhanced the competitiveness of high-competition firms, on the one hand, while the high cost of finance hindered it, on the other. However, profitability, business risk, the size of a firm and inflation contributed to the competitiveness of low-competition firms, on the one hand, while sales growth and employees’ capacity reduced it, on the other. It was concluded that both firm-specific and environmental factors played the beneficial and detrimental roles when the level of the competitiveness achieved by the Nigerian non-financial listed firms is concerned. Thus, the policy implications of these results were discussed. |
| first_indexed | 2024-03-12T15:01:52Z |
| format | Article |
| id | doaj.art-cf413edb148645e98d9b544ef72d0d31 |
| institution | Directory Open Access Journal |
| issn | 1450-863X 2217-9232 |
| language | English |
| last_indexed | 2024-03-12T15:01:52Z |
| publishDate | 2020-08-01 |
| publisher | University of Kragujevac |
| record_format | Article |
| series | Economic Horizons |
| spelling | doaj.art-cf413edb148645e98d9b544ef72d0d312023-08-14T06:57:37ZengUniversity of KragujevacEconomic Horizons1450-863X2217-92322020-08-012229911710.5937/ekonhor2002107AThe drivers of the competitiveness of firms in the non-financial sector: Evidence from NigeriaFatai Abiodun Atanda0Florence Olubunmi Osemene1Department of Accounting, University of Ibadan, NigeriaDepartment of Accounting and Finance, University of Ilorin, NigeriaThis study examines the key determinants of the competitiveness of firms in Nigeria. It draws the firm-level (i.e. firm-specific characteristics) data and macro-data (environmental factors) from the annual reports and accounts of non-financial listed firms and the Statistical Bulletin of the Central Bank of Nigeria, respectively. In addition, it employs descriptive, inferential and econometric tools to analyze the data. The results reveal that the age of a firm, its productive assets, profitability and the capital expenditure ratio of the government enhanced the competitiveness of high-competition firms, on the one hand, while the high cost of finance hindered it, on the other. However, profitability, business risk, the size of a firm and inflation contributed to the competitiveness of low-competition firms, on the one hand, while sales growth and employees’ capacity reduced it, on the other. It was concluded that both firm-specific and environmental factors played the beneficial and detrimental roles when the level of the competitiveness achieved by the Nigerian non-financial listed firms is concerned. Thus, the policy implications of these results were discussed.https://horizonti.ekfak.kg.ac.rs/sites/default/files/Casopis/2020_2/EH_2020_2_en_3_FAA.pdfhigh-competition firmlow-competition firmvalue creationfirm-specific factorenvironmental factor |
| spellingShingle | Fatai Abiodun Atanda Florence Olubunmi Osemene The drivers of the competitiveness of firms in the non-financial sector: Evidence from Nigeria Economic Horizons high-competition firm low-competition firm value creation firm-specific factor environmental factor |
| title | The drivers of the competitiveness of firms in the non-financial sector: Evidence from Nigeria |
| title_full | The drivers of the competitiveness of firms in the non-financial sector: Evidence from Nigeria |
| title_fullStr | The drivers of the competitiveness of firms in the non-financial sector: Evidence from Nigeria |
| title_full_unstemmed | The drivers of the competitiveness of firms in the non-financial sector: Evidence from Nigeria |
| title_short | The drivers of the competitiveness of firms in the non-financial sector: Evidence from Nigeria |
| title_sort | drivers of the competitiveness of firms in the non financial sector evidence from nigeria |
| topic | high-competition firm low-competition firm value creation firm-specific factor environmental factor |
| url | https://horizonti.ekfak.kg.ac.rs/sites/default/files/Casopis/2020_2/EH_2020_2_en_3_FAA.pdf |
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