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2020, vol. 22, br. 2, str. 99-117
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Pokretači konkurentnosti preduzeća u nefinansijskom sektoru - primer Nigerije
The drivers of the competitiveness of firms in the non-financial sector: Evidence from Nigeria
aUniversity of Ibadan, Department of Accounting, Nigeria + Institute of Chartered Accountants of Nigeria, Nigeria bUniversity of Ilorin, Department of Accounting and Finance, Nigeria + Institute of Chartered Accountants of Nigeria, Nigeria
e-adresa: atanda2001uk@yahoo.co.uk
Ključne reči: izrazito konkurentno preduzeće; slabo konkurentno preduzeće; stvaranje vrednosti; faktor specifičan za preduzeće; faktor okruženja
Keywords: high-competition firm; low-competition firm; value creation; firm-specific factor; environmental factor
Sažetak
U ovoj studiji se ispituju ključne determinante konkurentnosti preduzeća u Nigeriji. U studiji se izdvajaju podaci na nivou preduzeća (tj. karakteristike specifične za preduzeće) i makro-podaci (faktori okruženja) iz godišnjih izveštaja i računa nefinansijskih preduzeća koja se kotiraju na berzi i Statističkog biltena Centralne banke Nigerije, respektivno, koji se zatim analiziraju pomoću deskriptivnih, inferencijalnih i ekonometrijskih alatki. Dobijeni rezultati ukazuju na činjenicu da su starost preduzeća, njegova produktivna sredstva i profitabilnost, kao i racio vladinih kapitalnih izdataka, povećali konkurentnost izrazito konkurentnih preduzeća, s jedne strane, dok ju je, s druge strane, visok trošak finansiranja kočio. Međutim, profitabilnost, poslovni rizik, veličina preduzeća i inflacija su doprineli konkurentnosti slabo konkurentnih preduzeća, dok su je razvoj prodaje i kapacitet zaposlenih umanjili. Dolazi se do zaključka da su i faktori specifični za preduzeće i faktori okruženja odigrali i korisne i štetne uloge kada je u pitanju nivo konkurentnosti koji su ostvarila nefinansijska preduzeća kotirana na berzi u Nigeriji, zbog čega su i razmatrane implikacije tih rezultata na politiku preduzeća.
Abstract
This study examines the key determinants of the competitiveness of firms in Nigeria. It draws the firm-level (i.e. firm-specific characteristics) data and macro-data (environmental factors) from the annual reports and accounts of non-financial listed firms and the Statistical Bulletin of the Central Bank of Nigeria, respectively. In addition, it employs descriptive, inferential and econometric tools to analyze the data. The results reveal that the age of a firm, its productive assets, profitability and the capital expenditure ratio of the government enhanced the competitiveness of high-competition firms, on the one hand, while the high cost of finance hindered it, on the other. However, profitability, business risk, the size of a firm and inflation contributed to the competitiveness of low-competition firms, on the one hand, while sales growth and employees' capacity reduced it, on the other. It was concluded that both firm-specific and environmental factors played the beneficial and detrimental roles when the level of the competitiveness achieved by the Nigerian non-financial listed firms is concerned. Thus, the policy implications of these results were discussed.
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