Volume 1, Issue 3, 2015


1. An Assessment of the Efficiency of Government Regulatory Agencies in Nigeria. Case of the National Agency for Food and Drugs Administration and Control (PDF)

Authors: Aiwanehi Barbara Ofuani, Owolabi Lateef Kuye, Ogundeji Jolaosinmi Kayode Ogundele

Abstract: This study examines Business, Government and Society interrelationships. It eventually narrowed down to assessing the efficiency of government regulatory agencies, in fulfilling the role of government in protecting consumers from unscrupulous practices of businesses. The National Agency for Food and Drugs Administration and Control (NAFDAC) was chosen for the study. Since the expectations of the consumers are paramount here, the stakeholder approach method was used for assessing the efficiency of NAFDAC. Literature and previous empirical studies on the topic were examined. For representativeness, data was collected utilizing the survey research design through Questionnaire distributed to 200 respondents in some areas of Lagos Mainland in Lagos state, using the convenience sampling method. 187 copies of the questionnaire representing 93.5% were returned and usable. Descriptive statistics was used to analyze the responses to questions regarding the efficiency of NAFDAC and a hypothesis tested using a one-sample T-test. The findings ran contrary to results from some previous studies. Instead, consumer awareness of the existence of NAFDAC as a regulatory agency and its functions were established, along with a high rate of consumer education. The assessment of its efficiency also showed a high rating. Recommendations were made that the study be replicated in other states of Nigeria and further studies carried out to evaluate its efficiency under previous and current directors for improvement purposes.

Keywords: Business, Government Regulatory agencies, assessment, efficiency, consumer protection, NAFDAC

JEL Codes: E42

Pages: 9-26

2. The Romanian “Agricultural Power” in the European Context (PDF)

Author: Cristian – Marian Barbu

Abstract: This article seeks to reveal that although agriculture is a sector of primary importance in Romania, both in its contribution to national economy and in its social role, vital information on the economic size of farms confirms that Romania is the country with the most divided agrarian structure in the EU. With this reality of agrarian structure excessively fragmented and predominantly nature of subsistence for many Romanian farms, it is considered that for a medium-term strategy, the problem needs to be addressed differently in medium and large farms, farms that are professional and in which agriculture is a business and small farms that have a lesser role on the markets, but are important in the rural world for providing food and social security, environmental preservation through the use of traditional production methods etc.

Keywords: Degree of fragmentation, farmland, farms, agricultural production value, productivity

JEL Codes: O13, O18, Q15

Pages: 27-37

3. Integrating Forensic Accounting Core Competency into the Study of Accounting. Case of Nigeria Tertiary Institutions (PDF)

Author: Samuel F. Johnson-Rokosu

Abstract: Fraud and forensic accounting education is a necessity in very corrupt corporate and government institutions across the globe. Accounting educators have been pressured to make changes to the accounting curriculum and to include courses in forensic accounting and fraud examination by professional organizations and legislators as fraud cases have mounted and academic were criticized for not preparing their students for this professional environment. Accounting graduate trained under the existing curriculum exhibit lesser knowledge, skills and abilities in fraud detection, prevention and deterrence. This study therefore examined the philosophical beliefs, behavioural science concepts and approaches that can be adopted in integrating a fraud/ forensic accounting (FFA) into existing accounting curriculum. The study adopted mixed research methods, content analysis and quantitative method of data analysis was employed. This paper basically made use of the content analysis in analyzing the content of the existing accounting curriculum in Nigeria universities. This study involved selected universities in South West region of Nigeria using survey research method. Findings in this study revealed that most respondents would prefer integrating fraud/forensic accounting education into accounting curriculum by offering a separate fraud/forensic accounting courses. Also, the study revealed that fraud/ forensic accounting education has positive impact on student expertise, skepticism and fraud judgment. The study identified the following consideration that Accounting course developers need to consider before, during and after curriculum revision. Involvement of faculty; consider stakeholders opinion; accreditation agencies’ and governmental requirements; resources available; need for change; among others.

Keywords: Accounting curriculum, forensic accounting, fraud education, forensic accounting education, behavioural science concepts, tertiary institution

JEL Codes: M41

Pages: 38-64

4. Foreign Capital, GDP and Effects Affairs of Macedonia (PDF)

Author: Mico Apostolov

Abstract: This paper focuses on Southeast Europe and analyzes foreign capital movements, gross domestic product and possible effects, through a case study of Macedonia. There are many respectable sources of data, especially macro data and firm-level data that are used in this research. What we are interested in are the movements of foreign direct investment i.e. foreign capital, gross domestic product and effects of such changes, and possible contributions to the development of domestic firms and the overall economy. Foreign direct investment is usually defined as dominant or controlling ownership of a company in one country, by an entity based in another country. As of the beginning of the transition process, foreign direct investments remain priority, as essential pillar, that moves forward the society towards developed market economy. Further, we are interested in the possibility that these two indicators have positive and upward climb to facilitate this developing economy.

Keywords: Foreign capital, GDP, effects, transition, Southeast Europe, Macedonia

JEL Codes: D01, L33, O11, P31

Pages: 65-78

5. Indian Carpet Industry after Trade Liberalization. Problems and Prospects (PDF)

Authors: M. Rashid Malik, Rekha Prasad

Abstract: This paper aims to examine the constraints and opportunities emerged for the Micro, small and medium enterprises in carpet industry after trade liberalization. The survey method was selected for this study. A structured questionnaire, containing both close and open ended questions was used for data collection. 65 carpet firms of Bhadohi District of Uttar Pradesh registered with All India Carpet Manufacture Association (AICMA) were surveyed. Liberalization has brought many opportunities for carpet industry apart from challenges. Findings of the present study show that liberalization gave access to new markets and increased demand of products. Increased cost of raw material, difficulty in ‘export facilitation’ and ‘legal-regulatory framework and difficulty in procuring funds from local financial institutions were identified as the major constraints for the carpet industry.

Keywords: Carpet industry, trade liberalization, India, Bhadohi

JEL Codes: L69

Pages: 79-87

6. Gross Domestic Product and its Components in India. Trends and Issues (PDF)

Author: Pragyesh Nath Tripathi

Abstract: In this paper focus on the trends of Indian growth in terms of Gross domestic Product and its components. And furthermore analyse the growth are accelerate or decelerate. This paper covers growth performance in India for period 1951-2012. The average annual trend growth of GDP and Its components is higher during the reform phase as compare to the pre-reform phase except Mining & Quarrying and Electricity, Gas & Water Supply. The GDP shows the positive trend with acceleration in overall and sub periods but in case of its components all are positive with acceleration trend except the Electricity, Gas & Water Supply is positive but trend deceleration in overall period. And in case of Mining & Quarrying the results are statistically insignificant. However the structure of GDP and its components in terms of intercepts and slopes are different in post reform phase as compare to the pre reform phase.

Keywords: GDP, India, Economic Growth, Pre-Reform and Post-Reform

JEL Codes: N15

Pages: 88–104