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- ItemINFLUENCE OF FIRM CHARACTERISTICS ON LOAN APPROVAL FOR SMEs IN NORTH CENTRAL NIGERIA: BANKERS’ PERCEPTION(MALETE JOURNAL OF ACCOUNTING AND FINANCE, 2020) Lukman Adebayo Oke; Yusuf Olamilekan Quadri; Daud Omotosho SaheedThe scourge of paucity of finance to SMEs which has been undermining their potential as drivers of economic growth has been blamed partly on firm related characteristics. However, the fact that little has been done in this regard from the supply side (banks) spurs this research. This study investigates the influence of firm specific characteristics on loan approval for SMEs in North Central Nigeria. Data was drawn from the primary source through the use of questionnaires to elicit responses from the sampled bank loan officers in the study area. A sample of 207 was drawn from the volunteer loan officers in 448 branches using multistage sampling technique. Descriptive statistics and Kruskal Wallis H were employed in analyzing the data. The study found that all the identified firm characteristics (size, age, incorporation, industry, financial information, location and collateral), which are all significant at 0.01 but with varying degrees, are the factors influencing banks’ credit approval for SMEs in the North Central Nigeria. The study concluded that while banks attach greater importance to firm size, firm age and location in their loan decision for SMEs, they also give consideration though lesser, to other factors. The study thus recommended among others, the need for SMEs to synergize and borrow as consortium rather than as individual units. This will facilitate improved financial access and economies of scale in terms of relatively reduced loan costs. Similarly, SMEs should also consider setting up urban offices to achieve close proximity to their banks for better financial access.
- ItemBTC price volatility: Fundamentals versus information(Cogent Business & Management, 2021) Adedeji Daniel Gbadebo; Ahmed Oluwatobi Adekunle; Wole Adedokun; Lukman Adebayo-Oke Abdulrauf; Joseph AkandeThis paper offers a plausible response to “what explains the sporadic volatility in the price of Bitcoin?” We hypothesized that market “fundamentals” and “information demands” are key drivers of Bitcoin’s unpredictable price fluctuation. We adopt the transfer-function [Autoregressive Distributed Lag, ARDL] model and its Bounds testing approach to verify how the volatility of the price of Bitcoin responds to its transaction volume, cryptocurrency market capitalisation, world market equity index and Google search. We found the existence of long-run coin tegration relation and observed that all the variables except the equity index positively explain the volatility of Bitcoin price. The result established evidence that market fundamentals drive erratic swing in Bitcoin price than information.
- ItemOWNER FINANCIAL LITERACY CHARATERISTIC: IMPLICATION FOR ACCESS TO FINANCE AMONG SMEs IN KWARA STATE NIGERIA(Osogbo Journal of Management, 2018) Lukman Adebayo OkeActive participation of Small and Medium Enterprises (SMEs) in the financial market, through easy access to financial products and services, does not only enhance their growth but also leads to financial development which is widely recognized as an important determinant of economic growth. The extent of complexity of the current financial landscape, which has unfolded a wide variety of financial products and services, behoves SME owners’ financial literacy for its exploitation. The study investigated the impact of financial literacy on financial access among SMEs in Kwara State, Nigeria. Data were drawn from the primary source through the use of questionnaire to elicit response from sampled SMEs owners or managers. Pearson’s correlation and Multiple Regression were adopted for inferential statistical analysis. The results revealed a significant positive relationship between financial knowledge and financial access; financial attitude and financial access; and financial behaviour and financial access. Based on these findings, the study concluded that financial literacy determines financial access of SMEs in Kwara State. The study therefore recommended branded and SME-targeted financial literacy programmes and schemes, instilling sound financial knowledge and positive financial attitude and behaviour, with emphasis on new technologies with a view to sustaining the sector financially and technically. Also, as their exist many unbanked SMEs in rural areas, penetration of the areas by opening more credit windows together with rolling off literacy training programmes to instill confidence and better usage could go a long way in enhancing financial access.
- ItemImpact of Monetary Policy on Bank Credit in Nigeria(Journal of Accounting Research, Organization and Economics, 2020) Alade Ayodeji Ademokoya; Mubaraq Sanni; Lukman Adebayo Oke; Segun AbogunObjective – The aim of this study is to examine the impact of monetary policy on credit creation ability of banks in Nigeria. Specifically, it investigates the impact of monetary policy rate, money supply, liquidity ratio, and change in maximum lending rate on bank credit in Nigeria. Design/methodology – A monthly time series data from 2007-2019 were sourced from the Central Bank’s of Nigeria statistical bulletin. The sourced data was subjected to multiple regression analysis using the fully modified ordinary least square regression to estimate the parameters of the model. Results – Findings reveal that money supply significantly and positively influence bank credit in Nigeria; while liquidity ratio significantly but negatively influence bank credit in Nigeria. On the contrary, monetary policy rate and maximum lending rate were found not to significantly affect bank credit in the case of Nigeria. Policy Recommendation - Study therefore, recommend that monetary authorities especially, the Central Bank of Nigeria should pay more attention to lowering the liquidity ratio while increasing money supply in order to engender banks credit creation ability and further stimulate the Nigerian economy for growth.
- ItemCREDIT APPRAISAL, COLLECTION POLICY AND LOAN PERFORMANCE OF MICROFINANCE BANKS IN KWARA STATE, NIGERIA(Gusau Journal of Accounting and Finance (GUJAF), 2022) Lukman Adebayo- Oke Abdulrauf; Abdul Olalekan HassanAbstract The arrival of microfinance banks as another channel to mainstream the provision of financial services has become a major succour. Yet, the banks encountered high risk of default which is not unconnected with the peculiarities in its lending policies. In view of this, the study examines the effect of credit appraisal policy and credit collection policy on loan performance of MFBs in Kwara State, Nigeria. The study employed survey research design and the population consists of bank managerial and senior staffers from which one hundred and forty (140) were drawn conveniently as sample Data obtained through questionnaire were analyzed using descriptive and inferential statistics. The hypotheses for the study were tested using ordered logistic regression with average partial effects. The study found that collection policy significantly affects the loan performance of MFBs while credit appraisal policy does not significantly affect their loan performance as evidenced by their p-values. The study therefore concluded that collection policy influence loan performance of MFBs in Kwara State. Therefore, the study recommends that the credit appraisal policies should be restructure to capture the relevant information which will help these banks to determine the default intent of customers. Also, further monitoring mechanism should be put in place for bank loan collection policy in order that its effectiveness in increasing loan performance is improved.