Social Capital and Growth: Perspective from Consumer Goods Sector in South – West, Nigeria.
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Date
2016-06
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Department of Business administration, Al- Hikmah University, Ilorin, Kwara State, Nigeria
Abstract
The impact of socio capital on firm’s growth, especially in Nigeria, is still in doubt among stakeholders. The study examines the impact of social capital on firm’s growth in food sub-sector of the Consumer Goods sector quoted on the floor of Nigeria Stock Exchange, based on a sample 388 management staff of the firms arrived at with Rakesh (2013) sample size formula. The study applied multiple regression analysis to analyse the data collected from the selected sample. The results show that mutual trust, level of education and involvement in social activity have positive statistically significant impacts on firms’ growth with coefficient of 0.783 and 0.135 respectively. The study therefore concluded that social capital has a positive significant impact on firms’ growth in consumer goods sector; based on the Findings, it was recommended that managers and entrepreneurs should promote mutual trust, get involved in social activities and associate with stakeholders in their industry to maximise the windows of opportunities and to grow the firm accordingly for the benefit of all stakeholders.
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Keywords
Social Capital, Firm’s Growth, Sector Mutual Trust, Education, Social Activities