Authors: O.L. Kuye; A.A. Sulaimon
Addresses: Department of Business Administration, University of Lagos, Akoka-Yaba, Lagos State, Nigeria. ' Department of Business Administration, University of Ado-Ekiti, Ado-Ekiti, Ekiti State, Nigeria
Abstract: This study investigates the relationship between financial controls and firms| performance in the manufacturing sector in Nigeria. Data were generated by means of questionnaires to 670 manufacturing firms on financial controls and performance variables. Responses from the survey were statistically analysed using descriptive statistics, product moment correlation, regression analysis and Z-test (approximated with the independent samples t-test). The results of the study indicate a statistically significant relationship between financial controls and firms| performance as well as reveal a significant difference between the performance of firms whose financial controls are deep and the performance of firms whose financial controls are shallow. The implications of this study include the need for manufacturing firms to demonstrate high level of commitment to financial controls for increased performance.
Keywords: financial controls; firm performance; manufacturing industry; Nigeria; performance variables; descriptive statistics; product moment correlation; regression analysis; Z-test; independent samples t-test; deep control; shallow control; increased performance; global markets; business excellence.
International Journal of Business Excellence, 2012 Vol.5 No.1/2, pp.155 - 167
Available online: 29 Dec 2011 *Full-text access for editors Access for subscribers Purchase this article Comment on this article