International Journal of Business and Management, Issue: Vol.21, No.2

Reassessing the Effectiveness and Sustainability of State-Owned Enterprises in Nigeria: Evidence from A Subnational - Rivers State Experience

Tue, 10 Feb 2026 13:30:01 +0000

State-owned enterprises (SOEs) have long served as instruments of economic development in Nigeria, yet their effectiveness and sustainability remain uncertain. This study reassesses the performance of twenty-five (25) State government-owned enterprises established between 1962 and 2018, using secondary data drawn from official records, archival reports, and published literature. The research finds that only 5 (20%) of enterprises remain operational, and they are primarily those restructured under privatization/outright sale, or leasing arrangements. Another four that are actively supported by government subvention payments, since the government sees them as essential services, are also still active. The findings underscore the institutional and governance failures embedded in state ownership, highlighting political patronage, managerial inefficiency, and policy inconsistency as key determinants of business collapse. The study applies Agency Theory, Public Choice Theory, Institutional Capacity Theory, and Public Value Theory to explain these outcomes. Findings indicate that sustainability improves significantly where private-sector efficiency complements public oversight. The paper concludes that subnational governments should transition from direct ownership toward regulated partnership frameworks, supported by transparent legislation and institutional reforms. This principle will also apply to national enterprises such as crude oil refineries under the Nigerian National Petroleum Corporation Ltd. (NNPCL). The results offer policy insights for strengthening enterprise governance and achieving sustainable development across Nigeria's federating units.

The Role of Predictive Maintenance in Achieving Operational Excellence

Wed, 11 Feb 2026 05:15:15 +0000

This research investigates the role of predictive maintenance (PdM) in enhancing operational excellence, addressing the challenges organizations face in effectively integrating this advanced maintenance strategy. The study highlights that PdM enables proactive interventions by utilizing real-time monitoring and advanced analytics to anticipate equipment failures, which helps optimize maintenance schedules and improve equipment reliability. It identifies significant challenges, such as high implementation costs and system integration complexities, that hinder organizations from adopting PdM fully. The research aims to provide actionable strategies to enhance the integration of predictive maintenance with other operational excellence practices while examining its impact on key performance metrics like Mean Time Between Failures (MTBF) and Overall Equipment Effectiveness (OEE). By collecting data through literature reviews and industry insights, this study seeks to bridge the knowledge gap surrounding PdM and its implications for operational efficiency, ultimately offering recommendations to guide organizations toward successful implementation and sustainable growth in a competitive business landscape. The results indicate that predictive maintenance has statistically significant positive effects on operational excellence, especially when it comes to equipment reliability, mean time between failures (MTBF), and reduction of unplanned downtime. The respondents indicated a high level of concurrence on the importance of predictive maintenance in promoting decision-making, resource management, and general effectiveness of equipment. Irrespective of demographic constraints, the findings also make predictive maintenance a crucial engine of operational performance and cost-efficiency.

When Fintech Fails in Africa: The Story of WARI in Senegal

Sat, 28 Feb 2026 06:01:57 +0000

This research investigates factors behind WARI's collapse, a once-promising Senegalese FinTech company. Using a mixed-methods approach, we conducted interviews with executives and surveyed over 600 users across four cities. Results indicate that poor management is the primary failure factor, followed by significant conflict between founders and CEOs. Additional contributors included financial difficulties, strained stakeholder relations, and limited government support. The study makes several contributions: it employs a mixed-methodology approach to achieve a comprehensive understanding and explores resource-based theory, resource dependence theory, and failure rate theory as frameworks for explaining SME growth and failure. Notably, we identify founder-CEO conflict as a novel failure trigger. These insights can inform governments and financial authorities in developing effective support measures for SMEs, particularly in critical financial technology sectors.

Value Creation in Luxury Real Estate: Perspectives of Customers and Companies

Sat, 28 Feb 2026 23:49:02 +0000

This study investigates value creation in the Luxury real estate market in the Brazilian context through qualitative exploratory research. Due to the complexity and particularities of the real estate market, we investigated how luxury real estate companies create value by comparing customers’ expectations with companies’ perspectives. Luxury real estate companies and customers were in-depth interviewed, and significant and valuable data were collected. Our study indicates that the existing luxury literature is limited in its ability to address the complexity of the luxury real estate market. Our study also suggests that trust, credibility, and customization affect value creation in the luxury real estate market. Luxury authors and scholars did not previously study these aspects of value creation. In addition, this research provides scholars and companies with a new approach to creating value in the luxury real estate market.

Intelligent Detection and Prevention of Financial Fraud Using Fingerprints: An AI and Machine Learning-Based Approach

Tue, 10 Mar 2026 02:28:20 +0000

In the swiftly advancing digital financial arena, fraud detection and prevention have emerged as crucial issues for both institutions and customers. Traditional fraud detection frameworks, dependent on rigid rules and human supervision, frequently struggle to adapt to the ever intricate strategies utilized by fraudsters. This article examines the benefits of machine learning (ML) methodologies to improve fraud detection systems via the study of fingerprint biometrics. ML models, like Random Forest, XGBoost, CatBoost, and Deep Neural Networks (DNN), were utilized to identify fraudulent transactions by examining biometric data and financial transaction patterns. The study identifies CatBoost as the most effective model, exhibiting higher performance in critical measures including precision, recall, and F1 score. The incorporation of fingerprint biometrics enables these AI-driven models to adopt a proactive strategy for fraud detection, recognizing fraudulent activity in real time and provide a strong defense against advancing fraud techniques. The essay addresses the significance of data preprocessing, feature engineering, and ongoing model learning in developing a scalable and effective fraud detection system. The findings highlight the capacity of AI-driven technologies to transform fraud protection in financial services, providing enhanced precision and flexibility against evolving fraudulent methods.

Demographic Variables’ Impact on Perceived Organizational Belonging and Job Turnover Intention Using a United States Technology-based Employee Sample

Tue, 10 Mar 2026 02:30:58 +0000

It has been asserted that perceived organizational belonging (OB) is an important work role that can help to meet an essential human need for affiliation. Unfortunately, demographic variables can potentially attenuate employee OB due to social categorization and bias. The technology field in the United States (US) is dominated by males. Using an online survey sample of 317 US technology-based employees, this exploratory study tested the relationships of five demographic variables, i.e., gender, race, religion, age, and political view and their impact on perceived OB. The study also tested if perceived OB significantly explained job turnover intentions (JTI) beyond these five demographic variables. Results showed that males, non-Christians, and more liberal (political view) employees perceived higher OB. Higher OB significantly explained JTI beyond these five demographic variables. In addition, males and non-Christians had higher JTI. There are acknowledged study limitations, and the results found must be validated with future research. Still, this study calls attention to the continued importance of diversity management in organizations, so that all employees, regardless of their demographic composition, feel equal and completely accepted for who they are, as they are.

Distinctive Features of Hidden Champions: A Systematic Literature Review (1992-2024)

Tue, 10 Mar 2026 02:33:39 +0000

This article conducts a systematic literature review (SLR) on Hidden Champions—highly specialized, globally leading firms that remain relatively unknown to the public. Although interest in these firms has grown, academic research is dispersed across disciplines and regions. To consolidate this knowledge, the study reviews 58 peer-reviewed articles published between 1992 and 2024 from Scopus and Web of Science, following transparent selection criteria. The synthesis identifies five key thematic clusters: strategic niche focus, innovation-based advantage, leadership and organizational culture, internationalization, and relational capital. Findings show that Hidden Champions combine a narrow market focus with long-term strategic commitment, embedded innovation routines, distinctive leadership, early international expansion, and strong relational networks that reinforce their global niche dominance. While these patterns largely align with Simon’s foundational work, recent studies highlight customer-proximate innovation, global customer intimacy, and deeper ecosystem embeddedness. The review also notes a geographical evolution: European cases still predominate, but contributions from Asia and other regions are rising. By integrating fragmented insights into a unified framework, this article advances theory building and proposes a research agenda stressing broader geographic coverage, longitudinal designs, and greater attention to digitalization, dynamic capabilities, and sustainability.

Corporate Governance, Investment Strategy, Macroeconomic Factors and Financial Performance of Pension Schemes in Kenya: An Empirical Analysis

Tue, 24 Mar 2026 06:40:50 +0000

Background/Purpose: Literature review of pension schemes in Kenya reveals that there is lack of multi-factor analysis in Kenyan pension funds performance. This study examines the influence of corporate governance, investment strategy, and macroeconomic factors on the financial performance of pension funds in Kenya for the period 2012 to 2022.

Methodology: The study used a mixed-methods approach that combined primary survey data with secondary macroeconomic data. Governance and investment strategy were measured through survey-based indices, while macroeconomic variables were sourced from national datasets. A multi-equation analytical framework assessed direct, mediating, and moderating effects. The analysis entailed testing for relationships between and among variables to establish their nature and magnitude. This involved multiple regression analyses, Pearson’s product moment and analysis of variance (Baron & Kenny, 1986).

Key Findings: The findings show that corporate governance significantly enhances pension fund performance, with investment strategy mediating this relationship. Macroeconomic factors also significantly affect returns, though their impacts vary across variables. Highlight the specific results, such as the significant positive effect of corporate governance on performance and the critical mediating role played by investment strategy.

Conclusion/Implications: The study contributes to pension finance and governance literature by extending Agency Theory, Stakeholder Theory, Modern Portfolio Theory, and Arbitrage Pricing Theory to a developing-country pension fund context, showing that these frameworks complement each other in explaining ROI. Empirically, the study provides evidence that CG, IS, and macroeconomic variables jointly influence pension fund performance. Stakeholder involvement has a strong positive effect, investment strategy mediates the governance-performance link, reinforcing theoretical expectations derived from Modern Portfolio Theory and macroeconomic factors moderate this relationship, aligning with propositions of Arbitrage Pricing Theory regarding the role of systematic risk factors. These findings should inform the decisions of fund managers and policymakers to ensure sustainable retirement security in Kenya.

Managerial Power and Legitimacy as Determinants of Conformity Behavior among Hotel Employees

Tue, 24 Mar 2026 06:45:23 +0000

In this study, the level of conformity behavior exhibited by employees working in eco-friendly hotels was determined, and the relationship between these behaviors, power, and perceptions of legitimacy was examined. Structural equation modeling was employed to test the hypotheses developed in this study. The survey instrument was ad-ministered to eco-friendly hotels operating in Antalya, one of Turkey’s leading eco-tourism destinations. The results indicated that most employees displayed conformity behaviors within the organization, and that coercive and legitimate power bases used by managers played a decisive role in the emergence of these behaviors. Furthermore, employees’ perceptions of managerial legitimacy mediated the relationship between coercive and legitimate power and conformity behaviors. The findings suggest that although such power sources may be perceived as legitimate in the short term and foster conformity, they may also pose risks for various organizational problems in the long run. Accordingly, several strategic recommendations were presented to managers, emphasizing the need to reassess power-utilization strategies and adopt leadership approaches that support organizational sustainability.

Micro vs. Macro or Expert Influencers: The Impact of Influencer Marketing on Brand Trust and Loyalty in Saudi Arabia and Spain

Tue, 24 Mar 2026 06:47:30 +0000

Influencer marketing is a popular strategy for brand communication to enhance trust and brand loyalty. However, the mechanisms through which influencers create consumer trust and foster long-term brand loyalty remain underexplored, particularly in cross-cultural contexts. Mega influencers, who include sports or film stars, are admired by consumers from a great distance. In contrast, consumers treat micro influencers like family members, friends, or close colleagues. This study investigates how consumers perceive different types of influencers via semi-structured interviews with 25 social media users,10 from Spain, and 15 from Saudi Arabia. The conceptual model, based on source credibility theory (SCT) and parasocial interaction (PSI) theory, suggests that micro and macro influencers, consumer-generated comments and reviews, brand fit, and reality contribute to the development of brand trust and loyalty. These findings underscore the critical role of influencer marketing and provide a theoretical framework for understanding influencer trust and loyalty dynamics. Thus, this study provides practical implications for marketers to focus on providing consumer-generated content (reviews and comments) on social media, and depend more on long term collaborations with brand fit credible micro and expert influencers because, they enhance the perceived quality and, increase trust, as well as brand loyalty.

Building Sustainable Rural Economies: Insights from Mazu Village, Bangladesh

Tue, 24 Mar 2026 06:49:59 +0000

This study examines the key factors supporting sustainability in rural economies through a case analysis of Mazu Village. Using a mixed-methods approach combining qualitative and quantitative data, five interconnected elements are identified: agricultural activities, small-scale entrepreneurial efforts, traditional craftsmanship, participatory local governance and community-based social capital. Collectively, these factors boost economic resilience, alleviate poverty and improve community well-being. The findings suggest that agricultural activities are vital for maintaining rural livelihoods, but their effectiveness is significantly amplified when complemented by microenterprises and craft-based production, which generate additional employment. Transparency, accountability and participatory local governance structures are critical for resource mobilisation and supporting community-led planning processes. Social capital is strengthened through strong networks of trust, reciprocity and collective identity, enabling communities to confront economic challenges and work together. This research underscores the vital role of rural areas in contributing to national economic growth and social stability by placing Mazu Village within the broader context of rural development discussions. The findings highlight that sustainable rural economies require integrated policies that align local knowledge with institutional support mechanisms. Insights from Mazu Village provide valuable guidance for policymakers, development practitioners and researchers aiming to develop inclusive, context-sensitive and resilient rural strategies in Bangladesh and beyond.

The Influence of Personality and Bargaining Styles on Negotiation Outcomes: A Study in Sultanate of Oman

Tue, 24 Mar 2026 06:53:51 +0000

This study explores how personality traits and bargaining styles shape negotiation outcomes within the cultural context of Oman. The study used explanatory research design based on data from 243 professionals across diverse industries in Oman and used Partial Least Squares Structural Equation Modeling (PLS-SEM) to analyze the data.

The findings revealed that personality traits play a central role in negotiation behavior. Pro-self-personalities are more likely to adopt distributive bargaining strategies, leading to win-lose or deadlock outcomes, while prosocial personalities favor integrative bargaining, resulting in win-win or mutually acceptable outcomes. Bargaining styles partially mediate the relationship between personality traits and negotiation outcomes, confirming their critical role in the negotiation process. Communication mode and gender do not significantly moderate these relationships, suggesting that personality traits exert a stronger and more stable influence than contextual factors.

The study contributes to negotiation literature by validating established theories within the Omani context and highlighting the dominance of personality over situational variables. Practically, the findings offer valuable guidance for organizations in Oman, emphasizing the importance of personality-based training, role allocation, and talent management to improve negotiation effectiveness and foster sustainable professional relationships.

Transparency and Accountability in AI-Powered Cyber Defense Systems

Mon, 30 Mar 2026 06:39:47 +0000

Artificial intelligence (AI) is revolutionizing cyber defense systems in that it has dramatically altered how SOCs detect, analyze, and respond to threats. Yet these advancements put further pressure upon the trust, forensic audit-ability, regulatory compliance, and responsibility of machine-learning models. This text is examined as the primary requirement for using AI defense strategies in high-stakes environments, where errors or misclassifications can generate systemic, escalating risks. Using contemporary examples from AI governance and adversarial security research, Muller et Santos et Lee offer a multidimensional approach to model interpretation, data provenance visibility, explanation-able decision paths, and audit trail integrity, as well as in connection with modern data related developments in AI governance and adversarial security. Further, it evaluates accountability mechanisms, such as human-in-the-loop oversight, version-controlled model registries, and responsibility allocation matrices, to ensure traceable and effective security decisions. Thus, the text shows how transparent AI architectures reduce automation bias, support forensic investigations, mitigate adversarial exploitation, and foster institutional trust. The article ultimately points out that operational transparency and clear accountability structures are necessary in order to securely, ethically, and reliably deploy AI-powered cyber defense systems.