Financial Resources And Performance Of Manufacturing Firms In The South-East, Nigeria

Ngozi Christy Umeobi, Godwin Uche Akam and M. C Okeke
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Ngozi Christy Umeobi: Department of Business Administration and Management, Federal Polythenic Oko Anambra State.
Godwin Uche Akam: Department of Business Administration, Chukwemeka Odumegwu Ojukwu University, Igbariam Campus.
M. C Okeke: Department of Business Administration, Chukwemeka Odumegwu Ojukwu University, Igbariam Campus.

International Journal of Research and Innovation in Social Science, 2023, vol. 7, issue 1, 629-641

Abstract: This study explored financial resources and performance of manufacturing firms in the south-east, Nigeria. This study therefore, sought to determine the nature of the relationship between financial resources and organizational effectiveness of manufacturing firms in the south-east of Nigeria. Ascertain the nature of the relationship between financial resources and productivity of manufacturing firms in the south-east of Nigeria. This study was anchored on the resource-based view (RBV) theory of the firms. This study employed a descriptive survey approach. The population of the study is 2,176 employees, obtained from 250 manufacturing firms under study. a sample size of 471 was drawn from the population by the use of Godden’s’ formula for finite population. Questionnaire was administered to the employees of manufacturing firms, in top, middle and lower management levels respectively. The hypotheses of the study were tested by simple regression analysis, at 0.05 level of significance, through the use of SPSS computer package version 23. The study has proved that there is a significant positive relationship between financial resources and organizational effectiveness of manufacturing firms in the south-east of Nigeria. The study also revealed that financial resources positively influence the productivity of manufacturing firms in the south-east of Nigeria. based on the findings of the study, some recommendation were made, which include among others; that top management of manufacturing firms are advised to ensure the availability of adequate business finances as a critical factor in sustaining long-term investment leading to business success. Thus, even where adequacy of funds is not an issue, they should endeavor to avoid the mismanagement of the available funds in order to boost the productivity of their firms.

Date: 2023
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