Open Access Original Research Article

Impact of Retail Formats on Consumer Buyer Behavior- A Study of Fast Moving Consumer Goods Market in South Africa

Rajesh Sharma, Abhinanda Gautam

Journal of Economics, Management and Trade, Page 1-8
DOI: 10.9734/BJEMT/2016/21388

Inspite of the fact that retailers around the globe are embracing different retail formats to invoke positive consumer responses, little evidence exists of empirical research, that explores the success of a particular retail format in the South African Fast Moving Consumer Goods market. Retail formats are required to be aligned with the changing customer taste and preferences, and the trends in the industry in order to be effective.

This research paper explores the impact of retail formats in the Fast Moving Consumer Goods market by surveying a randomly selected   sample of 96 respondents of consumers in the Sandton area of Johannesburg, South Africa. It became evident through the survey that the respondents are aware of the different retail formats, which increase their potential as customers of Fast Moving Consumer Goods (FMCGs). It is found through empirical research that Hypermarkets followed by Convenience Stores and Super Markets are the most preferred retail stores by the customers for the purchase of FMCGs whereas Independent Retail Stores have an insignificant impact on the customers.

Open Access Original Research Article

Does the Volatility of Exchange Rate Affect the Economic Performance of Countries in the West African Monetary Zone? A Case of Nigeria and Ghana

Jonathan Dastu Danladi, Ugochukwu Paul Uba

Journal of Economics, Management and Trade, Page 1-10
DOI: 10.9734/BJEMT/2016/22535

It has been recognized that sustaining a relatively stable exchange rate is important in boosting economic growth. Volatility of exchange rate induces uncertainty and risk in investment decisions with subverting impact on the macroeconomic performance. This study examined whether the volatility of exchange rate has implications for the economic performance of the countries in the West African Monetary Zone. Nigeria and Ghana were chosen as case studies for the period from 1980 to 2013. Exchange rate variability was measured using the GARCH approach. The empirical results confirm that exchange rate volatility have a significant negative effect on economic growth. This implies that policy that will enhance stability of the exchange rate will promote growth therefore the WAMZ countries must prioritize the enhancement and promotion of a stable exchange rate and interest rate policy that that will encourage investors to invest in sectors if steady economic growth is to be attained.  Also adequate steps must be put in place for the fine-tuning of exchange rate dynamics which otherwise can frustrate the impeding monetary integration by WAMZ members.

Open Access Original Research Article

Redefining Service Quality Dimensions in Electronic Banking from Extant Theories

Aboagye Michael Osei, Antwi Collins Opoku, Ampadu Seth, Antwi Owusu Justice

Journal of Economics, Management and Trade, Page 1-22
DOI: 10.9734/BJEMT/2016/22527

In the literature, sufficient attention and interests have been given to electronic banking service quality dimensions and redefined antecedents. Its contributions, however, have a visible expression on banks’ electronic banking service quality development from customers’ perspective. The intent of this study is to find the extent e-banking service quality dimensions could be modified and develop all-encompassing electronic banking service quality dimensions and constructs. In a quantitative approach, this study made use of survey method with structured questionnaires in collecting primary data from 600 purposively sampled customers of the Ghana Commercial Bank Ltd. Utilising Microsoft excel, excel tool packages, SPSS (version 22) and AMOS, the research analysis was done in stages to satisfy underlined assumptions in quantitative studies. With PCA and CFA techniques, the findings from retrieved views of 556 respondents show that e-banking service quality could be well modified on a three factor model. The upshot evinces system performance, system security and system existence quality as redefined e-banking service quality themed as Re-EBankQual. Although this study showcases interesting ideas, it suffers several limitations. The constraints of this study are that, it did not rely on broader sample size to represent the entire population and hence the results could be viewed as just the perception of clients interviewed but not the general populace of the bank. Also the study was restricted to a specific geographic region belonging to a single commercial city in the eastern region of Ghana. For these limitations, theoretical and managerial recommendations have been noted for scholars and bank stakeholders to eliminate the bottlenecks that hinder the development of redefining e-banking service quality dimensions. The imports from this study sight on the themed areas of electronic banking service quality for both management and scholars to take note and affect decisions to improve services. It also adds to literature on the electronic banking service quality conceptualization and brings to light a new perspective in electronic banking service quality.

Open Access Original Research Article

Monitoring Recruitment and Selection Practice: A Therapeutic Strategy for Quality Service Delivery in Nigerian Public Universities

Emmanuel I. Akpan

Journal of Economics, Management and Trade, Page 1-7
DOI: 10.9734/BJEMT/2016/8425

The major objective of this paper was to assess the extent to which monitored recruitment and selection practice could enhance quality service delivery by lecturers in Nigerian public universities. Exploratory research design was adopted so as to facilitate gathering of data that formed the basis of judgments and conclusions. Nigerian public universities were established and managed by government (federal or state), to provide educational services as well as embark on research for purpose of general development. Acquisition and management of relevant resources was sine qua non for effective functioning of the institutions. The decreasing quality of performance in public universities is believed by certain individuals and unions to be the consequence of infrastructural decay, which the envisaged improvement in government funding and condition of service could possibly be the panacea. This paper uncovers the maxim that infrastructural renaissance and staff welfare, devoid of concomitant staff quality checks especially at the verge of recruitment and selection exercise would rather result in fiasco. It was recommended among others that uniform recruitment and selection policy and procedures be formulated; also, the implementation must be monitored by external agencies of government.

Open Access Review Article

Foreign Direct Investment and Economic Growth in Botswana: A Dynamic Causality Test

Edson Kambeu

Journal of Economics, Management and Trade, Page 1-8
DOI: 10.9734/BJEMT/2016/21723

Aims: The study examines the relationship between Foreign Direct Investment (FDI) and economic growth using yearly time series data for the period 1980 to 2012.

Study Design: Multi-model econometric study.

Place and Duration of Study: Botswana, January 1980 to December 2012.

Methodology: The study uses Augmented Dickey-Fuller and the Phillips-Perron test to test the stationarity of the variables. Johansen and Juselius cointegration test was used to test for cointegration. Finally, the study uses the Granger causality test to determine whether FDI influences economic growth.

Conclusion: Using Johansen cointegration test applied on a dynamic model, we found out that there is a long-term term relationship between FDI and economic growth in Botswana. However, using the Granger causality tests, we were not able to confirm whether it is the FDI that is spurring economic growth or it is economic growth that is promoting FDI inflows.

Open Access Review Article

Employment Generation through Entrepreneurial Development: The Nigerian Experience

Ezekiel O. Ayoade, Edwin M. Agwu

Journal of Economics, Management and Trade, Page 1-14
DOI: 10.9734/BJEMT/2016/21740

Unemployment has of recent become a global problem with developing nations of the world having the lion shares of the phenomenon. This has resulted in the migration of people from one region of the world to another in search of greener pastures. In the past three decades, Europe has seen people migrating from its Eastern to the Western part while Africa has lost so many of her bright scholars and potential citizens through migration to Europe even through unorthodox means such as through the Mediterranean Sea and savannah deserts in search of greener pastures. This paper investigated the past Nigerian government’s interventional efforts and attempts at addressing the hydra headed problems of unemployment in the country and their effectiveness at encouraging the sense entrepreneurship in the country with a view to facilitating job creation for the teaming Nigerians job seekers. The study relied on secondary data by way of existing literatures for this study while the results of the findings are presented with the aid of frequency tables. The finding from the study revealed that several intervention programmes introduced by successive governments in the country had failed to produce the expected results. Findings further indicated a plethora of bottlenecks which are principally hinged on corruptions, bureaucratic bottleneck vis-a-vis inconsistencies in government policies, political instability and lack of entrepreneurial skill by majority of unemployed Nigerians. The study recommended combined hard work on the part of the government to the development of entrepreneurship by providing an enabling environment and infrastructures coupled with the introduction of relevant entrepreneurial educational programmes in all institutions of learning be tailored towards development of entrepreneurial skills while start up loans should be made available without interests.

Open Access Data Articles

Service Quality and Customer Satisfaction in Loan Acquisition: Evidence from Commercial Banks in Ghana

Collins Kankam-Kwarteng, Jacob Donkor

Journal of Economics, Management and Trade, Page 1-11
DOI: 10.9734/BJEMT/2016/21801

The financial sector of Ghana is now characterized by increasing competition in the granting of loans to its customers. Most of the banks are employing cutting edge technology to improve the quality of their services and to roll out new products including loans for their clients. In order to evaluate service quality, loan acquisition and customer satisfaction in banking and provide answers to the research questions and achieve the research objectives, a descriptive design was used. The study was therefore designed to describe the relationship between service qualities, loan acquisition customer satisfaction in commercial banking operations.  Purposive sampling technique which is non-probability sampling was used to select the ninety-six (96) customers to participate in the study. The study revealed that the service quality dimension (reliability, responsiveness, tangibility, assurance and empathy) have influence on customer satisfaction in loan acquisition. Banking institutions give customer attention when they are acquiring loan and they understand specific needs of the customers about loans and banking institutions have customers interest in giving loan. The results suggested that future researchers investigate service quality, loan acquisition and customer switching tendencies and the importance of technical and functional quality in relation to loan acquisition at the commercial banks in Ghana.