Browsing by Author "Makinde Kehinde Alao"

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    Microfinance Banks and Development of Small and Medium Scale Enterprises in Kwara State: Demand side’s Perception.
    (Journal of Accounting and Management, 2019) Lukman Adebayo Oke; Yusuf Olamilekan Quadri; Daud Omotosho Saheed; Makinde Kehinde Alao
    Limited access to finance by SME operators has been a major hindrance to the development of SMEs in Nigeria. This necessitated frantic efforts by government at all levels to remove this blockade including Kwara State. Hence, this study investigates the impact of Microfinance Banks on the development of Small and Medium Scale Enterprises in Kwara State. Primary data were collected through a self-structured questionnaire that was developed and administered to 195 SMEs operators in Kwara State. The data were analysed using descriptive statistics, correlation, and multiple regression. The empirical analyses showed that, at 5% significance level, there is a strong positive relationship between timely access to finance and SMEs development, deposit mobilisation has a significant positive impact on SMEs development, and non-financial services of Microfinance Banks have a significant positive effect on SMEs development. The study, therefore, recommends that Microfinance Banks should ensure timely access to loans by SMEs operators to embark on profitable and value-added investment projects. The study also recommends that Microfinance Banks should improve their deposit mobilisation to enhance their liquidity and in-turn boost their capacity to grant loans to SMEs operators which will increase their profitability.
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    WORKING CAPITAL MANAGEMENT AND FIRMS' PROFITABILTY: EVIDENCE FROM CONSUMER GOODS SECTOR IN NIGERIA (2011-2018)
    (Gombe Journal of Administration and Management, 2019) Lukman Adebayo Oke; Yusuf Olamilekan Quadri; Daud Omotosho Saheed; Makinde Kehinde Alao
    Firms’ profitability is maximized as a result of efficiency and interrelationship between some factors. However, from all these factors, working capital is crucial as it affects daily operational activities of firms. This study investigates the impact of working capital management on profitability of firms in the consumer goods sector in Nigeria. Generalised least square technique was used to analyse the data extracted from the audited financial statements of the sampled firms for the period of 2011 to 2018. The study revealed that at 0.05 level of significance, average collection period has a significant positive impact on the profitability of consumer goods firm; inventory holding period has no significant impact on profitability of consumer goods firms; average payment period has significant positive impact on profitability of consumer goods firms; and cash conversion cycle has significant negative impact on the profitability of consumer goods firms. The study concluded that working capital management plays a significant role in the profitability of consumer goods firms in Nigeria. The study therefore recommended that firms should negotiate favourable credit terms with both their customers and suppliers while at the same time, reduce their cash conversion cycle for improved profitability.