GPH-International Journal of Business Management

DETERMINANTS OF RESEARCH AND DEVELOPMENT INVESTMENT: A MULTIVARIATE ANALYSIS OF WORKING CAPITAL, RETAINED EARNINGS, EBIT AND VALUE OF EQUITY

JEROH, Edirin, FCA, MORDI, Kelvin A., EBIAGHAN, Frank O. — Mon, 02 Jun 2025 00:00:00 +0000

This study investigated the determinants of Research and Development (R&D) investment among listed non-financial firms in Nigeria, focusing on the roles of Working Capital (WC), Retained Earnings (RE), Earnings Before Interest and Tax (EBIT), and Value of Equity (VOE). Employing an ex-post facto research design, the study analyzed secondary panel data from 55 firms over six years (2018–2023). The panel-corrected regression technique is utilized to examine the relationship between financial variables and R&D expenditure. Results reveal a statistically significant model (Wald χ² = 196.62, p < 0.001) explaining 6.8% of the variation in R&D investment. The findings indicate that WC and EBIT negatively impact R&D investment, suggesting firms with higher liquidity and operating earnings may prefer short-term financial stability over uncertain innovation spending. Conversely, RE and Return on Assets (ROA) positively influence R&D, underscoring the importance of profitability and internal funding in driving innovation activities. VOE exhibits a negative relationship with R&D, reflecting shareholder risk aversion to investment uncertainty. These findings align with prior studies emphasizing the nuanced financial and market factors shaping firms’ innovation strategies. The study concludes that both operational performance and market valuation critically affect R&D investment decisions. It recommends that firms balance liquidity management with long-term innovation goals while encouraging policies that promote reinvestment of earnings into R&D. Enhancing investor confidence through transparency and risk mitigation is also essential to support sustainable innovation and economic growth in Nigeria.

ORGANISATIONAL LEARNING AND BUSINESS LONGEVITY OF FAMILY OWNED TRANSPORT COMPANIES IN SOUTH-EAST NIGERIA

OSHI, Joseph E. O.,, OKOISAMA, Thomas C., HETTEY, Hubert D., ONUOHA, B. Chima — Tue, 10 Jun 2025 04:24:37 +0000

The study investigated the nexus between organisational learning (dimensioned by continuous learning and issue orientation) and business longevity (measured by financial strength and strategic perspectives) of family owned transport companies in South-East, Nigeria. The study was underpinned by the Social Learning Theory and the underlying philosophical paradigm is positivism. The research design adopted a cross-sectional survey approach, with a structured questionnaire based on a Likert's five-point scale.The target population comprised 11 family owned transport companies in South-East Nigeria, with national coverage. However, the elements of the accessible population were 480 Supervisors/Managers of the identified family owned transport companies. The Krejcie and Morgan’s table was utilised to determine a sample size of 214 respondents, and the purposive sampling technique was adopted. The Partial least squares-structural equation modeling was deployed to test the hypotheses at 0.05 significance level. The study found that continuous learning has a moderate positive and significant relationship with financial strength. Also, there is a moderate positive and statistically significant relationship between continuous learning and strategic perspectives. Besides, issue orientation has a weak positive and significant relationship with financial strength. However, issue orientation has a weak positive but not significant relationship with strategic perspectives. Therefore, the study recommends that Managers of family-owned transport companies in South-East Nigeria should prioritize continuous learning by investing in training and development programs for employees at all levels, and staying updated on industry trends, technological advancements, and regulatory changes. More so, managers of family-owned transport companies should strengthen issue orientation and foster strategic perspectives as a means of achieving business longevity of the firms.

ENHANCING DELIVERY TIME THROUGH SUPPLIER DIVERSITY IN SOUTH-SOUTH NIGERIA

Glory Williams Archibong, Kelechi Enyinna Ugwu, Erasmus Ejike Duru — Sat, 14 Jun 2025 10:43:16 +0000

This study examines the impact of supplier diversity on delivery times in construction projects within the South-South region of Nigeria. Supplier diversity, which involves integrating suppliers from varied backgrounds such as local, minority-owned, and small-medium enterprises (SMEs), is proposed as a potential solution to delays in construction completions. The research employs a correlational design and surveys construction project employees from different management levels across several cities in South-South Nigeria. Data were gathered using a validated questionnaire assessing perceptions of supplier diversity and delivery performance. Findings suggest that supplier diversity positively influences delivery time by enhancing operational efficiency, innovation, and resilience. A diverse supplier base mitigates risks associated with supply chain disruptions and improves responsiveness to logistical challenges. The study also identifies challenges in implementing supplier diversity, including higher initial procurement costs and the complexity of managing a diverse supplier base. Despite these challenges, the benefits of supplier diversity; such as improved delivery times, better supplier collaboration, and market expansion, are substantial. The study highlights that expanding the supplier pool not only strengthens the supply chain but also fosters socio-economic development in the region. The research concludes by recommending that construction firms in South-South Nigeria prioritize supplier diversity, invest in capacity-building for smaller suppliers, and improve supplier relationship management. Policymakers are also urged to support local suppliers through favorable policies and infrastructure improvements to enhance the procurement process.