EFFECTIVENESS OF RISK MANAGEMENT IN NIGERIA’S MANUFACTURING ENTERPRISES
This study seeks to examine the effectiveness of enterprise risk management (ERM) implementation in the Nigerian manufacturing sector. The objective of this study is to analyze the risks faced by manufacturing firms in Nigeria and to recommend actions to address and reduce anticipated hazards. This...
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| Format: | Article |
| Language: | English |
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University of Banja Luka, Faculty of Economics
2023-12-01
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| Series: | Acta Economica |
| Subjects: | |
| Online Access: | https://ae.ef.unibl.org/index.php/ae/article/view/458 |
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| _version_ | 1823858163813711872 |
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| author | Kehinde Olaiya Olusola Olowofela Mayowa Ariyibi |
| author_facet | Kehinde Olaiya Olusola Olowofela Mayowa Ariyibi |
| author_sort | Kehinde Olaiya |
| collection | DOAJ |
| description | This study seeks to examine the effectiveness of enterprise risk management (ERM) implementation in the Nigerian manufacturing sector. The objective of this study is to analyze the risks faced by manufacturing firms in Nigeria and to recommend actions to address and reduce anticipated hazards. This research used both inferential and descriptive statistics to examine the effectiveness of ERM application in Nigeria’s manufacturing sector. The data for this study were collected from the financial statements of manufacturing firms and other relevant publications by manufacturing firms in Nigeria from 2016 to 2020. The study found that ERM has a positive relationship with financial performance indicators such as return on investment, dividend, earnings per share, market capitalization, price earnings ratio, and dividend per share. The study recommends that manufacturing companies in Nigeria should implement ERM as an ongoing activity to improve their risk management practices, enhance their effectiveness, and ensure their long-term sustainability. This study contributes to the literature on ERM implementation in the Nigerian manufacturing sector and provides valuable insights for policymakers, regulators, and business managers.
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| format | Article |
| id | doaj-art-f58a8d8f88dc480ab80892c6dc957cba |
| institution | Kabale University |
| issn | 1512-858X 2232-738X |
| language | English |
| publishDate | 2023-12-01 |
| publisher | University of Banja Luka, Faculty of Economics |
| record_format | Article |
| series | Acta Economica |
| spelling | doaj-art-f58a8d8f88dc480ab80892c6dc957cba2025-02-11T14:25:46ZengUniversity of Banja Luka, Faculty of EconomicsActa Economica1512-858X2232-738X2023-12-01213910.7251/ACE2339035OEFFECTIVENESS OF RISK MANAGEMENT IN NIGERIA’S MANUFACTURING ENTERPRISESKehinde Olaiya0https://orcid.org/0000-0003-4793-8525Olusola Olowofela1https://orcid.org/0000-0003-2611-7736Mayowa Ariyibi2https://orcid.org/0000-0002-4514-1275Olabisi Onabanjo University, Ago-IwoyeOlabisi Onabanjo University, Ago-IwoyeOlabisi Onabanjo University, Ago-IwoyeThis study seeks to examine the effectiveness of enterprise risk management (ERM) implementation in the Nigerian manufacturing sector. The objective of this study is to analyze the risks faced by manufacturing firms in Nigeria and to recommend actions to address and reduce anticipated hazards. This research used both inferential and descriptive statistics to examine the effectiveness of ERM application in Nigeria’s manufacturing sector. The data for this study were collected from the financial statements of manufacturing firms and other relevant publications by manufacturing firms in Nigeria from 2016 to 2020. The study found that ERM has a positive relationship with financial performance indicators such as return on investment, dividend, earnings per share, market capitalization, price earnings ratio, and dividend per share. The study recommends that manufacturing companies in Nigeria should implement ERM as an ongoing activity to improve their risk management practices, enhance their effectiveness, and ensure their long-term sustainability. This study contributes to the literature on ERM implementation in the Nigerian manufacturing sector and provides valuable insights for policymakers, regulators, and business managers. https://ae.ef.unibl.org/index.php/ae/article/view/458effectivenessrisk management (ERM)financial performanceNigerian manufacturing firms |
| spellingShingle | Kehinde Olaiya Olusola Olowofela Mayowa Ariyibi EFFECTIVENESS OF RISK MANAGEMENT IN NIGERIA’S MANUFACTURING ENTERPRISES Acta Economica effectiveness risk management (ERM) financial performance Nigerian manufacturing firms |
| title | EFFECTIVENESS OF RISK MANAGEMENT IN NIGERIA’S MANUFACTURING ENTERPRISES |
| title_full | EFFECTIVENESS OF RISK MANAGEMENT IN NIGERIA’S MANUFACTURING ENTERPRISES |
| title_fullStr | EFFECTIVENESS OF RISK MANAGEMENT IN NIGERIA’S MANUFACTURING ENTERPRISES |
| title_full_unstemmed | EFFECTIVENESS OF RISK MANAGEMENT IN NIGERIA’S MANUFACTURING ENTERPRISES |
| title_short | EFFECTIVENESS OF RISK MANAGEMENT IN NIGERIA’S MANUFACTURING ENTERPRISES |
| title_sort | effectiveness of risk management in nigeria s manufacturing enterprises |
| topic | effectiveness risk management (ERM) financial performance Nigerian manufacturing firms |
| url | https://ae.ef.unibl.org/index.php/ae/article/view/458 |
| work_keys_str_mv | AT kehindeolaiya effectivenessofriskmanagementinnigeriasmanufacturingenterprises AT olusolaolowofela effectivenessofriskmanagementinnigeriasmanufacturingenterprises AT mayowaariyibi effectivenessofriskmanagementinnigeriasmanufacturingenterprises |