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    Effect of financial innovation on economic growth: Evidence from African countries
    (İstanbul Ticaret Üniversitesi, 2021) Yinusa, Olumuyiwa Ganiyu; Olowofela, Olusola Enitan; Yunusa, Lateef Adewale; Folami, Rahmon Abiodun
    Financial innovation is a product of technology and the question whether financial innovation spurs economic growth is subject to level of technology in the financial sector of an economy as well as other factors. On this note, this study examines the impact of pr ocess financial innovation on economic growth in some selected African countries. The study used annual panel data obtained from the World Bank Development Indicator comprising of seventeen cross section countries covering the period of fifteen years from 2004 to 2018. Generalized Method of Moment (GMM) was employed to analyze the panel data system. The result shows that financial innovation has significant impact on economic growth of selected countries. Automated Teller Machine (ATM) which is a major measure of our process financial innovation has significant impact on economic growth. Number of Bank branches on the other hand has positive but insignificant impact on the economic growth. Financial innovative products such a domestic bank credit also contributes significantly to the economic growth of African countries. It is therefore recommended that policy makers should encourage establishment of more ATM terminals, increase the number of bank branches and improve the credit to private sector of the economy.
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    Operating leverage and firm value of manufacturing firms in Nigeria
    (İstanbul Ticaret Üniversitesi, 2021) Yinusa, Olumuyiwa Ganiyu; Ariyibi, Mayowa Ebenezer; Yunusa, Lateef Adewale; Olaiya, Kehinde Isiaq
    The study examined the impact of Operating leverage on firm value of quoted manufacturing firms in Nigeria. The study selected twentytwo (22) listed (Consumer goods sector) manufacturing firms listed on Nigeria Stock Exchange from 2013-2019.The data used for this study are panel data. The result of this study revealed that DVAS (Variability in sales) has negative insignificant effect on firm value at (?=-1.04, P>0.05). DVPBIT (Variability in profit before interest and tax) has positive insignificant effect on firm value at (?=12.6, P>0.05). OPLE (Operating leverage in asset) has negative significant effect on firm value at (?=-18.95, P<0.05). Based on the findings of the study, it were therefore recommended that; firms would benefit from the quick variability in fixed asset to current asset. (Changes in fixed cost into variable cost influences sales and long-run profit).