Abstract
Over
the years, the issue of how developing country’s firms decide between the use
of debt and equity as source of finance had been a challenge in emerging market
and the new patterns of internal and external financing that have evolved in the
global market as an entity. The main statistical tool employed in this work is
Pearson’s correlation techniques which will be used to establish the
relationship between earning price per share and corporate performance. A
sample size of 14 was drawn using random sampling techniques. In the research
question three hypotheses formulated. The study used Pearson’s correlation
method in testing the hypotheses formulated. The study reveals that there is
positive relationship between the retained earnings of firms and their EPS; firm’s
optimal debt ratio is determined by trade off between gains of borrowing, holding
the firms assets and investment plan is constant, Based on the findings the
study recommends: that company should endeavour to desist from employing non
professionals like chemist, biologist etc and also government should put in
place measure to guarantee economic and
political stability.
TABLE OF
CONTENTS
Title Page i
Certification ii
Dedication iii
Acknowledgements iv
Abstract v
Table
of Contents
Chapter One: Introduction 1
1.1 Background to the Study 3
1.2 Statement of Problem 4
1.3 Research Questions 8
1.4 Objectives of the Study 8
1.5 Statement of Hypotheses 9
1.6 Significance of the Study 10
1.7 Scope of the Study 11
1.8 Limitations of the Study 13
1.9 Definitions of Terms 13
Chapter Two: Review of Related Literature 15
2.1 Introduction 15
2.2 Conceptual Explanations 17
2.3 Theoretical Framework 21
2.4 Recent Theories on Optimal Capital Structure 39
2.5 Review of Empirical Studies 43
Chapter Three: Research Method and Design 49
3.1 Introduction 49
3.2 Research Design 49
3.3 Description of Population of the Study 50
3.4 Sample Size 50
3.5 Sampling Technique 50
3.6 Sources of Data Collection 50
3.7 Method of Data Presentation 51
3.8 Method of Data Analysis 51
Chapter Four: Data Presentation, Analysis
and Interpretation 53
4.1 Introduction 53
4.2 Presentation of Data 54
4.3 Data Analysis 54
4.4 Hypothesis Testing 63
Chapter Five: Summary of Findings, Conclusion
and Recommendations 69
5.1 Introduction 69
5.2 Summary of Findings 69
5.3 Conclusion 70
5.4 Recommendations 71
References 73
Appendices 77
CHAPTER ONE
INTRODUCTION
1.1
Background to the Study
The term advertising
appears to be well known to every person across all profession consumers and
even buyers aspire to know advertising as much as the advertisers. All aspects
of business have advertising implication. As it is very imperative for a course
of action on the part of the owner of a business, who is just starting or
expanding existing ones to make a careful study of how to get the products or
services across to the ultimate consumers. To assure that product will sell
itself due to its high quality or measures to the buyer or consumer is
wrong.
Modern business has
specifically responding to the need for proper communication by responding to
the need for proper advertising.
One should not fail to
mention that small business management occupies a vital and higher percentage
of the economy development of a nation. This is why small scale business
management should be given its pride of place and guide with al seriousness to
achieve its desire greatness. The competitive nature of business operating in
the same industry calls for the need for advertisement to ensure its survival
in the same line of industry.
However, the survival
of a small business management therefore depends on how well the management of
such business can discover the need for necessity of advertising.
The case study of Mr.
Biggs which find itself in the fast food business can only secure a better edge
among her place as there are competitions in the business.
The corporate goals or objectives
of the institution under study are to justify the owners investment from the
profit after tax. Therefore the whole essence of this research work is to help
managers and other interest individual to find a place in their organization
that is completely responsible for advertising.
1.2
Statement of Problem
Over the years business
fails to grow and survive due to lack of poor advertising techniques adopted by
enterprises.
Advertising management
is a crucial issue in a global business due to the complexity of current
business environment. These are set out plans and programmes in order to
achieve the set of organizational objectives and goals. Advertising require to
find in order to design an effective advertising methods which will have a
wider coverage in order to reach out to existing customers and potential
customers of the business product or
services.
The researcher is of
the view to carryout an investigation to find out the constraint of advertising
including the growth and survival of enterprise in Nigeria. However preferred solution
and solution and recommendation will be made available at the end of this
study.
1.3 Research Questions
This research work will
attempt to provide answers to the following questions:
1.
What is the
effect of advertising on the total demand for Mr. Biggs products?
2.
How does
advertising influence the business cycle?
3.
Does advertising
widen consumer choice for the product of the firm?
4.
Does advertising
increase sales?
5.
Does advertising
facilitate the achievement of goals and objective of small scale business management?
6.
Does advertising
help to inform and create awareness?
1.4 Objectives of Study
This research is aimed
at achieving the following objectives:
1.
To determine if
advertising has any significant effect on the total demand for Mr. Biggs
products.
2.
To examine if
advertising has any influence on the business cycle.
3.
To know if
advertising has any widen effect on consumer choice for the product of the
firm.
4.
To examine if
advertising has any significant effect in increasing sales.
5.
To examine if
advertising has any significant effect in facilitating the achievement of goals
and objective of small scale business management.
6.
To examine if
advertising help to inform and create awareness.
1.5
Statement of Hypotheses
With regard to the
above, central research question arising from the statements of the problem and
the objective of the study, leads to the researcher to the formulation of the
following hypothesis. The negative assertion is called the alternative
hypothesis (Ho) while the positive assertion is called the null hypothesis (HI).
Hypothesis One
Ho: Advertising does not facilitate the
achievement of goals and objectives of small scale business management.
HI: Advertising does facilitate the achievement
of goals and objectives of small scale business management.
Hypothesis Two
Ho: Advertising does not increase sales and
profitability.
HI: Advertising does increase sales and
profitability.
Hypothesis Three
Ho: Advertising does not inform and create
awareness.
HI: Advertising does inform and create
awareness.
1.6
Significance of the Study
The objective of this
research study is to examine the problem being faced by small scale business of
Mr. Biggs enterprise as a result of not having good economic (e.g. market
economic) and to suggest good solution to these problems. If this objectives
are met, it follows that this work will at the end contribute significantly to
the importance of advertising in small scale business management.
This study attempts to
produce information to bridge the information needs of the potential and actual
investors. Therefore, the following categories will benefit immensely from the
findings.
1.
Potential Investor: It will serve as a guide in determining the value of
the business that would finally have an influence on their investment decision.
2.
Management: It
would expose them to improve practices as well as help to know the importance
of advertising in small scale business.
3.
Public: It
will enlighten the public on the need for advertising in small scale business
management. It will also benefit the public in the area of providing relevant
information for the future researchers.
1.7
Scope of the Study
This study is
restricted to the relevance of advertising in the management of small scale
business in Nigeria
a case study of Mr. Biggs. Due to time and cost constraints the entire Mr.
Biggs in Nigeria
can not be used for this study. Hence, a sample size of 3 (three) one in Auchi
and two in Benin
(i.e. one in Sapele Road
and one in Ugbowo Road).
The date was obtained
using a cross section of Mr. Biggs fast food restaurant in Edo State
for the period of 2009 – 2013.
1.8
Limitations of the Study
1.
Outstanding constraint
is the unwillingness on the part of the respondent to give correct and
convincing information about their business.
2.
Generalization
of result may not be correct since the study was limited to advertising in
small scale business enterprise with special emphasis on Mr. Biggs which does
constantly represent the performance of all the small scale enterprise in the
country.
3.
The smallness of
the sample size is also a constraint to this research project.
1.9
Definition of Terms
1.
Advertising: This
is the purpose to promote the image of a corporation rather than the sale of a
product or service, also called institutional advertising is also use to create
public awareness of a corporation or to improve its reputation in the market
place. (Brovee, 1992).
2.
Small Scale Business: The federal government small scale industry
development plan of 1980 defined a small scale business in Nigeria as any
manufacturing process or services industry with a capital not exceeding N150,000
in manufacturing and equipment alone.
3.
Management: Involves
ensuring that work activities are completed with highest degree of efficiency
and effectives by those responsible for carrying out the responsibilities.
4.
Promotion: The
element of the marketing mix that include all forms of marketing communication.
It is the ingredients used to inform an persuade the market regarding companies
product the market regarding companies product.
5.
Organization: A
project, a business of a person or group of persons. A company making and
selling things.
6.
Consumer: This
is a person or group of persons who are the final users of products or services
generated within a social system.
7.
Marketing: This
is the process of communicating the value of a product or services to customer
for the purpose of selling the product or services. It is a critical business
function for attracting customer.
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