Effect of corporate governance on the performance of oil and gas firms in Nigeria
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2018-06
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Abstract
Small and Medium Scale Enterprises (SMEs) have been recognized by government and development experts, most especially the developing countries of Africa, as the main engine of economic growth and major factor in promoting private sector development and partnership. Nigeria has facilitated the growth of SMEs through the creation of many agencies, institutions and promulgation of laws and regulations that aid govemment in regulating and boosting the growth and development of SMEs. Therefore, this study seeks to examine the impact of government regulations on the survival of SMEs in Kwara State. Other specific objectives were to examine the extent to which government regulations influence the survival of SME: and determine the nature of the relationship that exists between tax policy and growth of SMEs. Questionnaire was sewed to 144 out of 226 registered SMEs in Kwara State though stratified, simple random sampling technique. The two hypotheses formulated were tested through regression and correlation analysis. Finding: of the study revealed that govemrnent regulations have significant influence on the survival of SMEs (r'=73.2%, p- value<0.05) and that strong relationship exist between tax policy and the gowth of SMEs (P- value<0.0S). The study therefore recommended that government should legislate against multiple taxation and make fund available to regulatory agencies and financial institution, established authority a cater for the gmwth and survival of SME.
Small and Medium Scale Enterprises (SMEs) have been recognized by government and development experts, most especially the developing countries of Africa, as the main engine of economic growth and major factor in promoting private sector development and partnership. Nigeria has facilitated the growth of SMEs through the creation of many agencies, institutions and promulgation of laws and regulations that aid govemment in regulating and boosting the growth and development of SMEs. Therefore, this study seeks to examine the impact of government regulations on the survival of SMEs in Kwara State. Other specific objectives were to examine the extent to which government regulations influence the survival of SME: and determine the nature of the relationship that exists between tax policy and growth of SMEs. Questionnaire was sewed to 144 out of 226 registered SMEs in Kwara State though stratified, simple random sampling technique. The two hypotheses formulated were tested through regression and correlation analysis. Finding: of the study revealed that govemrnent regulations have significant influence on the survival of SMEs (r'=73.2%, p- value<0.05) and that strong relationship exist between tax policy and the gowth of SMEs (P- value<0.0S). The study therefore recommended that government should legislate against multiple taxation and make fund available to regulatory agencies and financial institution, established authority a cater for the gmwth and survival of SME.
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Govemrnent Regulations;, Government Policies, Govemrnent Regulations;, Small and Medium Enterprises;, Government Policies;, Tax Policy