DORA :: Browsing by Author "Mafimisebi, Oluwasoye"

Browsing by Author "Mafimisebi, Oluwasoye"

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Open Access
Access to Debt Finance in Sub-Saharan Africa: Redefining the Problem from Risk Perspective and Way Forward
(Sage, 2024-03-01) Ogunmokun, Olapeju Comfort; Mafimisebi, Oluwasoye; Obembe, Demola
This paper presents critical points of view relating to small and medium-sized enterprises (SMEs) access to debt finance in Sub-Saharan Africa (SSA). Prevailing view suggests that lack of credit information is a fundamental factor that contributes to the constraints faced by SMEs. We challenge this prevailing dominant view and argues that SMEs are constraints in accessing debt finance due to bank’s risk assessment strategies. At the same time, suggest that banks modelling credit risk assessment for SMEs in SSA became extremely crucial for determining access to debt finance. This impacts on access to debt finance contrary to popular claim that the opaque nature of SMEs is the major constraint limiting access to debt finance. In such challenging context, SMEs are expected to either provide more information to banks to reduce the problem of information asymmetry as well as provide collateral and guarantees in the absence of reliable information to safeguard against risk of default or maintain a long-term relationship with banks which is expected to result in an increase in debt financing. The authors emphasize the need to redefine the problem of access to debt finance, so that financing obstacles for SMEs can be strengthen. The implications and alternative strategies for SMEs access to debt finance are discussed.
Open Access
Bank Lending Behaviour and Small Enterprise Debt Financing
(Emerald, 2022-11-01) Ogunmokun, Olapeju Comfort; Mafimisebi, Oluwasoye; Obembe, Demola
Our reason for concern is the rapid decline in loans to small enterprises which is critical to their performance, compared to large businesses following the periods of banking reformations in Nigeria. Thus, the primary purpose of this paper is to investigate the influence of risk perception on bank lending behaviour to small enterprises. It also investigates the impact of government intervention, consolidation, and recapitalization on the relationship between risk perception and bank lending behaviour to small enterprise. This study empirically analysed (ordinary least square) secondary data obtained from the Central Bank of Nigeria Statistical Bulletins, Annual Statement of Accounts covering the period 1992-2020. The results show that the absence of government interventions and the presence of banking reformations have statistically negative significant effect on bank lending to small enterprises. Our findings challenge the argument that generally assumes risk aversion of banks towards small enterprise lending because of small enterprise’s inability to prove their credit worthiness and consequently constraining access to finance to the sector. Instead, the results and analysis from this study found theoretical support for the variation of bank behaviour in lending to small enterprises depending on the status of wealth of the financial system. A key lesson from this study for government concerned about promoting performance of the small enterprise sector is that regulating and enforcing lending requirements on access to debt financing of the sector is necessary if constraints in access debt finance is to be eliminated. Second, while strategies such as bank consolidation, recapitalization etc. may help strengthen and make financially robust the banking system; it places the banks in a gain position where losses looms to them than gain.
Embargo
Beyond the farm gate: can social capital help small-holders to overcome constraints in the agricultural value chain?
(Palgrave Macmillan, 2019) Kolade, Oluwaseun; Mafimisebi, Oluwasoye; Aluko, Oluwakayode
The agricultural sector is typically the biggest employer of labour in most African countries, yet it is also typically the most under-capitalised and most neglected by policy makers. While a number of studies have highlighted the positive impact of innovations on farm productivity, increased productivity does not necessarily lead to improved income or profit. For many small-holders, the most consequential, and often the most ignored, constraints exist beyond the farm gate in the value chain. These constraints include the lack of information and technological capacities for post-production processing and packaging, the challenge of quality requirements and delivery for high-valued markets, lack of connections to established market actors, and weak transportation networks. This chapter, therefore, reviews the existing knowledge, and proposes a framework that illuminates the potential of social capital to help smallholders overcome constraints in the agricultural value chain. As well as setting out a new research agenda, this chapter aims to contribute to the design and implementation of more effective interventions.
Open Access
Covid-19 and the tourism industry: an early-stage sentiment analysis of the impact of social media and stakeholder communication
(Elsevier, 2021-09-28) Obembe, Demola; Kolade, Oluwaseun; Obembe, Funmi; Owoseni, Adebowale; Mafimisebi, Oluwasoye
This paper examines tourist public responses to crisis communications during the early stages of Covid-19. Using the social-mediated crisis communication model, the paper explores the key factors that influence public sentiments during nascent periods of the crisis. The choice of data collection dates was determined by key milestones events with significant implications in relation to UK tourism. Sentiment analysis of data sets of public tweets and news articles were done in order to interrogate how the trends and performance of the airlines and the tourism sector have been shaped by the sentiments of the tourism publics, the crisis communication interventions from key institutional actors, and the news sentiments about tourism organizations, particularly airlines. Sentiment analysis, also known as opinion mining, falls under natural language processing (NLP) and is used to identify different sentiments and polarities in texts. Our findings indicate that institutional actors have a significant impact on the sentiments of tourism publics. Our study contributes to existing research on crisis communication by illuminating how public narrative about, and stakeholder responses to, crisis are shaped not just by organizational communication strategies but also institutional actors, on the one hand, and the interested publics too.
Embargo
Environmental risk of gas flaring in Nigeria: Lessons from Chevron Nigeria and Ilaje crisis
(Journal of Environment and Earth Science, 2016-06) Mafimisebi, Oluwasoye; Ogbonna, O.C.
Environmental risk concerns that risks that have adverse effects on the environment and people. In another context, gas flaring is mainly used to dispose of associated gases with crude oil to make it more economically useful; and this has been regular practice within the Nigerian oil and gas industry for decades. This research fundamentally addresses environmental risk of gas flaring on the environment and people living within the Niger Delta region of Nigeria using Chevron and Ilaje crisis as case-study. The research reveals the health and safety implications of gas flaring in Nigeria and lessons for different stakeholders. The hydrocarbon compounds such as benzene, naphthalene, styrene, toluene, and xylene found in the flaring of associated gas affect health and safety of the local people in Nigeria. For example, we found that breathing particulate matter which are linked to gas flaring result into aggravated asthma, increase in respiratory symptoms like coughing and difficult breathing, chronic bronchitis, decreased lung function, and premature death; and also found that health issues such as pneumonia and cases of leukaemia are linked to gas flaring. The results also show that carbon dioxide emissions in the Niger Delta region of Nigeria ranked among the highest in the world. Our findings bear vital implication for gas flaring elimination projects in Nigeria and reveal shortcomings in the current oil and gas industry practice in which it is cheaper to flare gas than to eliminate it. In conclusion, the study recommends best fit approach to build trust among stakeholders and reflect upon the research limitations and issues were raise for future research consideration.
Open Access
Global relevance of scaling African indigenous entrepreneurship
(Elsevier, 2021-02-01) Mafimisebi, Oluwasoye
This research focuses on the way African indigenous entrepreneurs (IEs) use at hand resources and strategies to overcome challenges in resource constrained and munificent environments. Although there have been considerable past progresses in the technology, innovation and entrepreneurship literature concerning non-predictive strategies, our understanding of the relevance of bricolage in Africa context remains limited. This paper examines the issue of global relevance of scaling African indigenous innovation; and focuses on how IEs can scale their businesses. We relied on qualitative cases of IEs based on semi-structured interviews to explore the practical context of using non-predictive strategies to solve contemporary problems through the more cost-effective and environmentally friendly solutions. Specifically, we argue that IEs can scale their indigenous solutions by leveraging on bricolage to provide globally relevant solutions. The sample consists of twenty indigenous entrepreneurs from Nigeria who operate in resource constrained and munificent contexts. We present bricolage theory as a preliminary way of understanding how IEs operate and may be scaled. The paper enhances appreciation of the scaling processes of indigenous entrepreneurs based on forms of bricolage; and it extends the application of bricolage to resource munificent contexts. Finally, we outline the implications of the findings for research and practice.
Embargo
Indigenous Knowledge and Africapitalism: An Unexploited Source for Sustainable Development
(Sage, 2022-04-10) Mafimisebi, Oluwasoye; Okupe, Adun; Orighoyegha, Eseroghene; Onwuegbuzie, Henrietta N.
This article presents a critical point of view on indigenous knowledge and Africapitalism as an unexploited source for sustainable development. The notion of sustainable development in developing countries, particularly in Africa, has been of interest among scholars, practitioners and policymakers for decades. At the same time, there is increased acknowledgment of indigenous knowledge as an underexploited, yet invaluable source of sustainable development in emerging markets. In such a context, this article examines the constructs of Africapitalism management philosophy and indigenous knowledge. The authors examine diverse ways through which Africapitalism can embed indigenous knowledge systems as a key growth driver for sustainable socio-economic development. In conclusion, we discuss the implications for researchers and policy makers.
Open Access
INSTITUTIONAL DETERMINANTS AND ENTREPRENEURIAL MINDSETS OF UNIVERSITY EDUCATED YOUTHS IN SUB-SAHARAN AFRICA
(Routledge, 2020-11-02) Ogunsade, Adekunle; Murithi, W.; Mafimisebi, Oluwasoye
The development of entrepreneurial mindsets and engagement, through training and education, has been recognised as one viable way of integrating the youth population into the labour market for economic development. Studies also indicate that institutional contexts provide structural reality and meaning for individual entrepreneurial actions. This chapter draws on institutional theory to explore the formal and informal institutional context in sub-Saharan Africa and its influence on entrepreneurial mindsets and actions among university-educated youth. The chapter argues that the challenges to entrepreneurial activities among the youth in Sub-Saharan Africa is multidimensional. We advocate that integrating the right institutional and supporting ecosystems for entrepreneurial development will provide the catalytic foundation for jumpstarting the development of entrepreneurial mindsets and capacity for entrepreneurial engagement among African youths. The chapter also offers important practical insights where governments can focus on investment and effective policy to improve entrepreneurial capacities and engagement of the youths.
Embargo
Natural resources, sustainable entrepreneurship, and poverty reduction in resource-rich African countries - The missing link
(Palgrave MacMillan, 2023) Olagboye, Deji Osigbodi; Mafimisebi, Oluwasoye; Obembe, Demola; Woldesenbet, K.
Poverty reduction remains a burning issue globally and within the entrepreneurship discourse. This chapter reviewed the salient role sustainable entrepreneurship (SE) plays in the effort towards poverty reduction and the negative effects of underdeveloped institutions in resource-rich developing countries (RRDCs). Whilst there is extensive research about SE and the antecedents of poverty, there is a dearth of research exploring the impact resource curse hypothesis and aspects of entrepreneurial ecosystem (EE) on SE and poverty reduction, particularly in RRDCs, and the implications for socio-economic development. We found that the ease of doing business and the quality of institutions and political structure, are the two essential determinants of SE and poverty reduction in RRDCs. We develop agenda for policy and identify scope for future research.
Embargo
The Nexus Between Nigerian Universities’ Entrepreneurship Training and Digital Technology: Influence on Graduates’ New Venture Creations
(Palgrave Macmillan, 2021-12-01) Mafimisebi, Oluwasoye; Alabi, MojolaOluwa; Oladejo, Samson Oyerinde
The mainstream entrepreneurship literature emphasises the importance of entrepreneurship education in facilitating entrepreneurial competency, attitudes towards and intention of new venture creations and entrepreneurial career choices. However, mixed findings exist from prior studies on the influence of entrepreneurship training and digital technology on new venture creation by graduates. Drawing on the concept of community of practice, this chapter examines the nexus between Nigerian universities entrepreneurship training and digital technology by considering their influence on graduates’ new venture creations in Nigeria. Using an ethnography qualitative research approach to elicit information from graduate entrepreneurs, the study finds empirical evidence to support the notion that entrepreneurship training and digital technology are integral to new venture creation by graduates. The findings offer pertinent implications to entrepreneurship training design and stimulation of entrepreneurial activities in Nigeria. In conclusion, this study represents a meaningful step towards a better understanding of new venture creations among Nigerian universities graduates.
Embargo
Oil terrorism-militancy link: mediating role of moral disengagement in emergency and crisis management
(Journal of Emergency Management, 2015-09) Thorne, S.; Mafimisebi, Oluwasoye
The controversial issues of terrorism and militancy have generated contemporary interests and different interpretations have emerged on how to combat and manage these dangerous events. This study widens understanding of moral disengagement mechanism application in the perpetuation of inhumanities within the context of oil terrorist and militant behaviors. The research findings and model are explicit on how people form moral evaluations of agents who are forced to make morally relevant decisions over times in the context of crisis situations. Quite crucially, understanding the context of terrorism and militancy provides policymakers, emergency and crisis managers better analysis and response to such events. The research fundamental purpose was to investigate the mediating role of moral disengagement on delinquency of oil terrorism and militancy; and considered implications for emergency and crisis management practices. The study found that situational-induced crises such as oil terrorism and militancy were sufficient to account for an individual's misdeeds and unethical or inhumane decisions made under frustration and agitation may be perceived as less indicative of one's fundamental character. Findings suggest that more repugnant delinquencies could have been committed in the name of justice than in the name of injustice, avenues for future research. In context, the result of the moral disengagement scale shows that morality of delinquency (oil terrorism and militancy) is accomplished by cognitively redefining the morality of such acts. The main finding is that people in resistance movements are rational actors making rational choices. The authors argue that theorists, policymakers, and practitioners must give meaningful attention to understanding the multidimensional nature of emergency, crisis and disaster management for better strength of synthesis between theory and practice. The research is concluded by thorough examination of the implication and limitations for future research and practce.
Open Access
Organization and Product Design Pairings: A Review of Product Innovation Capabilities, Conceptualization and Future Directions
(Strategic Change, 2020-01-07) Mafimisebi, Oluwasoye; Obembe, Demola; Aluko, Oluwakayode
Drawing on the Resource-based view of firms and market orientation theory, this paper presents a complementary view of the influence of product innovation capabilities (PICs) on organization and product design pairings. By exploring the influence of three complementary factors; market orientation, organizational form, and managerial strategic decisions, as essential determinants for emergence of architectural pairings, we theorize that PICs lead to better; organization and product design pairings selection, unique customer benefits, market acceptance, significant cost reductions, and new products development, and consequently superior organizational performance. We propose in essence, that PICs significantly shape and determine the success of architectural pairings between organization and product designs, and act as a source of sustainable competitive advantage for organizations. We further identify scope for future research to evaluate measures and validity of product innovation capability dimensions, and the extent of influence of the identified factors on architectural pairings.
Open Access
Planned, improvised or resilience: Small business owner-managers’ perception and response to crises in crisis prone environments
(Sage, 2023-02-23) Mafimisebi, Oluwasoye; Obembe, Demola; Ogunsade, Adekunle
This article addresses a fundamental question concerning planning, improvisation and resilience in the context of crisis management and business continuity. We seek to explore when and how small business owner-managers respond to crisis situations and cope with associated challenges to their business operations. This question remains unresolved, despite substantial progress in the crisis management and small business literature, which still produces opposing empirical findings and theoretical arguments. While one view supports strengthening existing planned responses to crises; the other view argues and finds support for improvised responses. Drawing on inductive multiple-case study approach, we extend previous research on crisis management by focusing on its planned, improvised and resilience dimensions. The purpose is to provide empirical insights about owner-managers’ perception and response to crises in a crisis-prone environment and complement it with theoretical insights from normal accident and high reliability theories to have a balanced view of crisis management practices within small businesses. We found that crisis planning, improvisation and resilience that occurs simultaneously in the crisis management process is more valuable and enrich crisis management practices of small businesses. We conclude by proposing specific areas for future research in relation to crises and resilience in crisis-prone environment.
Open Access
Project management practice: lessons learned from project failures in Nigeria
(European Journal of Business Management, 2016-03) Mafimisebi, Oluwasoye
There are opportunities to prevent future project failures when organisations and project managers learn from past cases of project failures. Therefore, several project case studies in Nigeria were presented and these cases offer crucial lessons for effective project risk management. Notably, this research specifically considered how employing a project management approach could yield tangible benefits to organisations in Nigeria and what lessons can be learned from project failures. The results have wider implication on both theory and practice of project management. In particular, amidst the perceived benefits of project management is the question; does project management approach prevent project and organisations from failing? If not, are project management concepts, practices and standards doomed? Arguments of this analysis were revealed and a research debate to outspread project management is drawn. The research further examined key strategic considerations likely to be encountered when planning and undertaking projects with special reference to Nigeria. In this context, we argued that over reliance on project management approach is destructive and consequently lead to project disasters or failures. Furthermore, the work drawn on relevant practical examples of projects in Nigeria to test the effectiveness of project management approaches in Nigerian organisations. Though evidences consistent with literature were found but these were not enough to prevent project failures in some organisations in Nigeria. Finally, in view of international best practice; practical recommendations for organisations wishing to operate successfully in Nigeria were made and the research limitations were carefully addressed.
Open Access
Prospect theory and bank credit risk decision-making behaviour: a systematic literature review and future research agenda
(Springer Nature, 2023-03-15) Ogunmokun, Olapeju Comfort; Mafimisebi, Oluwasoye; Obembe, Demola
Prior research, which has extensively documented bank credit risk behaviours, focused largely on credit risk decision-making under rationality. Nonetheless, credit risk decision-making often occurs under conditions of risk and uncertainty. In this article, drawing on prospect theory, our purpose is to examine bank credit risk decision-making behaviour under conditions of risk and uncertainty. In doing so, we employed a systematic literature review to synthesize the literatures at the intersection of prospect theory and risk behaviours over a three-decade period. Our research contributes to existing studies in management and risk behaviours by uncovering salient factors, loss aversion and risk perception, which mediate bank credit risk decision-making behaviour under conditions of risk and uncertainty. We discussed the theoretical model of prospect theory and main challenges in applying it when attempting to provide a greater understanding of bank credit risk behaviours. The paper documents the application of prospect theory within and outside of the banking industry and finds that bank risk perception and reference point shape credit risk decision making behaviours. In conclusion, we uncover several promising avenues for future research and draw attention of researchers to prospect theory application within bank credit risk behaviour domain.
Open Access
Resilience and learning from insurance firms: Dataset on British long-term insurance market performance
(Elsevier, 2018-11-24) Mafimisebi, Oluwasoye; Nworie, I.; Hadleigh-Dunn, S.
This data article revealed data about the UK long-term insurance market performance for over a decade. The data was acquired from the ABI and contains important trading results (i.e. premiums generated) across different types of long-term insurance. It also revealed the outgoings (i.e. claims incurred) and data on total individual business in force at year end – relating to number of policies. The data relates specifically to life and annuities, individual pensions, occupational pensions, income protection and other insurance business. The dataset revealed some important information on long-term insurance products within the UK insurance market which could serve as a high-quality resource for longitudinal analysis in the field. Thus, the data can provide crucial insights about UK long-term insurance market resilience during the global financial crisis and can be compared with a different era, sectors, and countries to show hidden business resilience factors, competitiveness, and survival strategies.
Embargo
Reviewing the business of nongovernmental organisations in African transformation.
(Emerald, 2021) Ojo, Ngozichukwuka M.; Mafimisebi, Oluwasoye
This paper reviews the contribution of nongovernmental organisations (NGOs) to Africa developmental transformation by exploring key activities around three key areas where NGOs have impacted Africa’s development namely environmental, social and economic context. This perspective emphasises the central role of NGOs in triggering developmental changes in Africa. Exploring the complexities of NGOs’ management and its impact on the development of Africa through a collective action lens, we discovered that although NGOs have been responsible for developmental growth in Africa, there exists a certain tussle between the NGOs and state actors due to relegation of the state. With recent calls for accountability and transparency, NGOs would have to include more strategies geared towards collaborative partnerships and more inclusion of state in order to maintain sustainable growth. We conclude by reflecting on the socioeconomic impact of NGOs and implications for sustainable development in Africa.
Embargo
Risk Society as a Framework for Exploring Entrepreneurship Education in Nigeria.
(2021-12-01) Oladejo, Samson Oyerinde; Mafimisebi, Oluwasoye
This chapter examines how individuals navigate turbulent environment devoid of institutional and entrepreneurial architectures vital to support high-growth entrepreneurship using the prisms of risk society framework. Although, Nigeria has dynamic education policy to ensure access to basic education and development. A number of recent studies have found that lack of access to ‘free’ basic education makes a large number of individuals vulnerable to societal harms which further impoverish them. Therefore, we demonstrate how the notion of risk society is driving entrepreneurship education in Nigeria. Research suggests that unemployment and poverty situations in Nigeria is made worse by the adverse effect of weak institutions, endemic corruption, bad governance and the negative impact of COVID-19 pandemic crisis. Collectively, these factors contribute to the weak entrepreneurial ecosystems, institutional voids and poor entrepreneurial architectures vital to support entrepreneurship in Nigeria. Our review of existing studies found that low skills limit opportunities for employment in the formal economy and that government social programmes intended to address problems of poverty and unemployment are ineffective. Therefore, we present some emerging ideas and thinking about entrepreneurship education at basic educational level to ensure inclusive entrepreneurial opportunities in Nigeria. In practical context, we consider entrepreneurship education as an effective tool to bridge the gaps and challenges of risk society and connect them to sustainable enterprise solutions. In conclusion, we reflect on the implications of the Nigerian government approach to entrepreneurship education.
Open Access
Risky business: Data on trading results for UK general insurance firms during and after the global financial crisis
(Elsevier, 2018-11-26) Mafimisebi, Oluwasoye
This article contains dataset on the trading results for UK general insurance industry performance during and after the global financial crisis. The data covers the net written premiums by line of business and trading results for UK general insurance firms over a decade period (2007–2016). Additionally, the data comprises areas that are peculiar to evaluate general insurance business such as net written premiums, underwriting results, claims incurred, investment income and trading results which make it important to investigate the probability of default of different business lines and insolvency risk. The data presented could serve as useful tool to supervise local insurance firms and take earlier action in the case of risky firms before they breach solvency capital requirements. The data are useful to evaluate growth performance of UK non-life insurance industry which can be compared with other countries. Likewise, the data analysis can allow for measurement of insurance firms competitiveness and detect systemic risk which may disrupt the financial industry. The uniqueness of this data is its focus on insurance business as risky which is an area where Solvency II concentrates on as a risk-based approach to prevent the failure of insurance firms. The failure of insurance companies may disrupt the financial industry, increase systemic risk and affect negatively the real economy. Therefore, the extent to which the determinants of insolvency risk for UK general insurance firms can be established the better the attractiveness of the sector and improve risk regulation.
Embargo
Strategies for disaster risk reduction and management: Are lessons from past disasters actionable?
(World Scientific Press, 2017-09) Thorne, S.; Mafimisebi, Oluwasoye
This research is about disaster risk reduction and management using learning from past disasters as theoretical framework because disasters and crises continue to re-occur for the same reasons they could have been prevented and mitigated. This chapter has two main aims. First, to consider how lessons from past disasters, may be linked to strategies for disaster risk reduction and management. Second, critically review how lessons from disasters can be made actionable in an organizational context using conceptual model of actionable learning from disasters. Historically, proximate cause and nature of risk, crisis and disaster has generated intense theories and models in both the social and pure sciences. Albeit the applied implications of existing risk and disaster theories are questionable, this research informs the debates about risk, crisis and disaster management theory and practice by considering and reflecting on mindfulness, complexity, modernity, fragility, isomorphic learning, and policies ambiguity; and the application of disasters lessons from cross-organizational isomorphism, event isomorphism and self-isomorphism. One of the fundamental contributions involved using case studies of two emergency and disaster response organizations in Ghana and Nigeria which were used to address the issues raised in the research. In conclusion, the chapter reflected on the challenges of learning from past disasters, devoted to the explanation of disaster risk reduction strategies and its components: identification, prevention, reduction, mitigation and appraisal, evaluation, management and communication, flexibility, resilience and robustness. The main lessons and implications from “actionable learning from disasters model” to disaster risk reduction and management are discussed.

Browsing by Author "Mafimisebi, Oluwasoye"

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