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Ntiedo Bassey Ekpo
NseAbasi I. Etukafia
Ikechukwu A. Acha
John O. Udoidem
Ikenna E. Asogwa
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Ntiedo Bassey Ekpo
NseAbasi I. Etukafia
Ikechukwu A. Acha
John O. Udoidem
Ikenna E. Asogwa
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World Journal of Economic and Finance

Growth Implications of Managerial Finance in Business: Empirical Evidence from Akwa Ibom State, Nigeria

Ntiedo B. Ekpo, NseAbasi I. Etukafia, Ikechukwu A. Acha, John O. Udoidem, Ikenna E. Asogwa

Accepted 3 August, 2017

Citation: Ekpo NB, Etukafia NI, Acha IA, Udoidem OJ, Asogwa IE (2017). Growth Implications of Managerial Finance in Business: Empirical Evidence from Akwa Ibom State, Nigeria. World Journal of Economic and Finance. 3(1): 061-068.

Copyright: © 2017. Ekpo et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are cited.

Abstract

The effective management of business finance is critically dependent on the proper understanding of the interrelationships between different dimensions of financial management and growth performance of the business. This study examines the relationship between selected managerial finance functions and growth of business in Akwa Ibom State, Nigeria using Pearson’s Product Moment Correlation model. The results show that all the managerial functions selected for the study are positively correlated with growth, but with varying levels of significance. The implication of the results is that, given the diversity and specialized nature of managerial finance, every dimension of management relating to financial resources should be taken seriously to ensure long-term sustainable growth of business.

Key words: Growth of business, Managerial finance, Micro, Small and Medium Enterprises