Analyzing the determinants of financial management behavior of administrators in Nigerian state-owned enterprises

Omolayo Sunday Kayode, Mabutho Sibanda, Odunayo Magret Olarewaju

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1 Citation (Scopus)
88 Downloads (Pure)

Abstract

This study assessed the factors that determine the financial management behavior of administrators in state-owned enterprises (SOEs) in Nigeria. The rising cases of financial mismanagement, which was associated with the financial management behavior of top administrators in these SOEs, prompted this study. It is believed that identifying the factors that determine the financial management behavior of these administrators would help to find solutions to the problem. Based on the multistage sampling technique, 385 top administrators from the SOEs at the federal level in Nigeria participated in the survey. Quantitative analysis was used to analyze the data and the results show that income, family size, and financial literacy are the most important factors affecting the financial management behavior of the administrators. It is recommended that there should be an improvement in income and other working conditions of the administrators in the SOEs since income has been confirmed to be an important shift factor of financial management behavior. In the same vein, given the role of family size, it is recommended that efforts on population reduction should be intensified. Finally, financial literacy should be given priority in checkmating irresponsible financial management behavior.

Original languageEnglish
Pages (from-to)278-290
Number of pages13
JournalInvestment Management and Financial Innovations
Volume19
Issue number3
DOIs
Publication statusPublished - 14 Sept 2022

Bibliographical note

This is an Open Access article,
distributed under the terms of the
Creative Commons Attribution 4.0
International license, which permits
unrestricted re-use, distribution, and
reproduction in any medium, provided
the original work is properly cited.
Publisher Copyright:
© Omolayo Sunday Kayode, Mabutho Sibanda, Odunayo Magret Olarewaju, 2022.

Keywords

  • administrators
  • determinants
  • financial management behavior
  • SOEs
  • state-owned enterprises

ASJC Scopus subject areas

  • Business and International Management
  • Finance
  • Economics and Econometrics
  • Economics, Econometrics and Finance (miscellaneous)

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