Volume 6, Issue 1, June 2020, Page: 18-35
Information and Communication Technology and Sustainable Performance of Selected Listed Deposits Money Banks in Lagos State, Nigeria
Adegbie Folajimi Festus, Department of Accounting, School of Management Sciences, Babcock University, Ilishan-Remo, Ogun State, Nigeria
Kehinde Olawale Kazeem, Department of Accounting, School of Management Sciences, Babcock University, Ilishan-Remo, Ogun State, Nigeria
Owolabi Babatunde Ayodeji, Department of Accounting, School of Management Sciences, Babcock University, Ilishan-Remo, Ogun State, Nigeria
Received: Feb. 24, 2020;       Accepted: Mar. 26, 2020;       Published: May 12, 2020
DOI: 10.11648/j.ijsmit.20200601.13      View  175      Downloads  55
Abstract
In recent times, performance declined in the Nigerian banks with an imminent systemic poor operational and financial performance of the financial sector, could have a grave effect on the economy entirely. Also, lack of knowledge and inappropriate applications of ICT tools and techniques has resulted to poor sustainable performance of most Nigeria banks and this has led to continuous low profitability of the banks. Hence, the need to examine how ICT tools can enhance sustainable performance of banks. This research study adopted a cross-sectional survey research design with the use of structured questionnaire, which was designed to obtain data from respondents. The study population comprised all top and middle strategic managers of the 19 quoted deposit money banks in Nigeria as at the end of 2019 with a total of 3,407 staff, Stratified random sampling method was also used for the selection of 510 deposit money banks’ employees from the selected banks branches. The result of findings show that ICT dimensions (mobile banking, online banking, automated teller machine and bankers automated clearing service) has significant effect on customer loyalty ((Adj. R2 of 0.938F-statistic(4, 470)=180.142, p<0.05). Also on customer satisfaction (Adj. R2) of 0.903 000 (F-statistic(4, 470)=149.584, p<0.05). Also on profitability of selected deposit money banks in Lagos state, Nigeria (Adj. R2 of 0.915, (F-statistic(4, 470)=160.440, p<0.05). The result also shows that ICT dimensions have significant effect on service delivery (Adj. R2 of 0.635, F-statistic(4, 470)=206.603, p<0.05). These implies that deposit money banks should improve policies that strengthen its employment of ICT dimensions as this will enhance the overall performance and performance sustainability of the deposit money banks in Nigeria.
Keywords
Information Communication Technology (ICT), Sustainable Performance, Banks
To cite this article
Adegbie Folajimi Festus, Kehinde Olawale Kazeem, Owolabi Babatunde Ayodeji, Information and Communication Technology and Sustainable Performance of Selected Listed Deposits Money Banks in Lagos State, Nigeria, International Journal of Sustainability Management and Information Technologies. Vol. 6, No. 1, 2020, pp. 18-35. doi: 10.11648/j.ijsmit.20200601.13
Copyright
Copyright © 2020 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Reference
[1]
Abdullai, H. M., & Micheni, E. M. (2018). Effect of internet banking on operational performance of commercial banks in Nakuru County, Kenya. International Journal of Economics, Finance and Management Sciences, 6 (2), 60-65.
[2]
Abor, G. (2004). The diffusion of online banking. Research trends from 1998 to 2006. Journal of Internet Banking and Commerce, 12 (2), 1-13.
[3]
Abubakar, F., & Haruna, S. (2014). The influence of information technology diffusion and business process change on perceived productivity. The IS executive's perspective. Information & Management, 34 (3), 141-159.
[4]
Adeoye, T., & Elegunde, C. (2012). The future of entrepreneurship research. Entrepreneurship theory and practice. Major Management Journal, 23 (3), 12-22.
[5]
Adesina, A. O., & Ayo, B. M. (2015). Bass and stogdill’s Handbook of Leadership: A survey of theory and research; free press, New York, NY.
[6]
Adewale, D., & Afolabi, E. (2010). Entrepreneurial orientation: A psychological model of success among South African small business owners. European Journal of Work and Organizational Psychology, 13 (4), 315-344.
[7]
Adewale, O. R., & Afolabi, P. (2013). Changes in the banking sector: The case of internet banking in the UK. Internet Research, 10 (1), 19-31.
[8]
Agboola, J. G. (2014). The proactive personality disposition and entrepreneurial behavior among small company presidents. Journal of Small Business Management, 38 (1), 28-36.
[9]
Alawneh E., & Hattab, C. S. (2010). Toward a taxonomy of multidimensional constructs. Academy of Management Review, 12 (4), 741-755.
[10]
Almazari, R. D. (2011). Understanding and measuring autonomy. An entrepreneurial orientation perspective. Entrepreneurship Theory and Practice, 4 (3), 47-69.
[11]
Alu, S. (2016). Employee perception of impact of information technology investment in organizations: survey of the hotel industry. Australian Journal of Information Science, 7 (2), 245-278.
[12]
Arunachalam H. D. E., & Sivasubramanian, A. O. (2017). Cash lodgment in the Nigerian banking industry. Benin Journal of Social Sciences, 18 (1), 20-26.
[13]
Auta, P. (1978). Archetypes of strategy formulation. Management Science, 11 (2), 921-933.
[14]
Babej, C. (2014). The business case for emotional intelligence. available at: www.eiconsortium.org/research/business_case_for_ei.htm (accessed 12 January 2011).
[15]
Barnes O. R., & Corbitt, R. L. (2012). Impact and challenges of ICT banking on performance. Journal of Emerging Trends in Computing and Information Sciences, 3 (6), 12-26.
[16]
Basweti, J. O. (2013). The relationship between resources, entrepreneurial orientation and performance in farm- based ventures. Entrepreneurship and Regional Development, 23 (4), 89-111.
[17]
Becchetti, T. P., Bedoya, R. A, & Paganetto, S. J. (2003). The dynamics of proactivity at work. Research in Organizational Behavior, 28 (1), 3-34.
[18]
Bielski, H. M. (2016). Organizational behavior: affect in the workplace. Annual Review of Psychology, 53 (1), 279-307.
[19]
Bowden, A. (2009). Environmental uncertainity. The entrepreneurial orientation of business ventures and performance. International Journal of Commerce and Management, 83-104.
[20]
Chapman H. R., & Slaymaker, Y. (2012). Problems and prospects of information and communication technologies application in agriculture in Nigeria. The Information Manager, 8 (1), 7-16.
[21]
Chapman, S. O., & Slaymaker, E. (2012). Usefulness of accounting information in emerging economy: Emperical Evidence of Iran. Journal Revista De Contabilidad-Spanish Accounting Review, 4 (6), 1-27.
[22]
Covin, J., Green, K., & Slevin, D. (2006). Strategic process effects on the entrepreneurial orientation-sales growth rate relationships. Academy of Management Journal, 14 (2), 29-39.
[23]
Dann, D., & Dann, F. (2011). Performance measurement in the SMEs in the information technology industry. In F. Zhao, Information Technology Entrepreneurship (79-99). Hershey, USA: Idea Group.
[24]
Daud, D. P. (2011). The influence of organization structure on the utility of an entrepreneurial top management style. Journal of Management Studies, 3 (2), 217-234.
[25]
Dehning, D. K., & Richardson, J. N. (2002). Psychology of innovation resistance: The less developed concept in diffusion research. Research in Marketing, 4 (1), 273-282.
[26]
Duncan, L. (1995). Adoption patterns of new banking technology in Southeast Asia. (4th Ed) International Journal of Bank Marketing, 5 (4), 35-48.
[27]
El-Haddan, A., & Almahmeed, M. (1992). ATM banking behaviour in Kuwait: A consumer survey. International Journal of Bank Marketing, 10 (3), 250-232.
[28]
Elkington, P. (2015). Understanding information technology usage: A Test of Competing Models. Information Systems Research, 6 (2) 144-176.
[29]
Essinger, P. (2015). Automated Teller Machine (ATM) and its challenges in contemporary Nigerian banking industry. AAU Journal of Management Sciences, 1 (1), 24-53.
[30]
Flavian, P. H. (1982). Innovation in conservative and entrepreneurial firms: Two models of strategic momentum. Strategic Management Journal, 2 (1), 11-23.
[31]
Gerrard, O. G., & Cummingham, C. (2016). Examining the relationship between leadership and emotional intelligence in senior level manager. Leadership & Organization Development Journal, 23 (2), 68-78.
[32]
Gerster, A. A., & Zimmermann, G. S. (2013). Using information and communication technology (ICT) to develop Ex-management staff profile in ASCON. An unpublished project submitted to the department of Computer and Technical Management Studies (CITMS) of the Administrative Staff College of Nigeria.
[33]
Gummesson, D. P. (2015). Strategic management of small firms in hostile and benign environments. Strategic Management Journal, 48 (3), 75-87.
[34]
Hammer, M., & Champy, J. (2013). Reengineering the corporation: A manifesto for business revolution, harpercollins, New York.
[35]
Harward, H. (2014). Toward a contigency model of strategic risk taking. Academy of Management Review, 37 (4), 230-243.
[36]
Hassan, K. (2011). Measuring system usage: Implications for IS theory testing. Management Science, 41 (8), 1328–1342.
[37]
Hifza, M. (2011). The relationship between corporate entrepreneurship and strategic management. Strategic Management Journal, 28 (4), 421-444.
[38]
Karjaluoto, P. (1983). Applied multiple regression/correlation analysis for the behavioral sciences: (3rd Ed), Lawrence Erlbaum, Hillsdale, NJ.
[39]
Kazi, W., & Muhammad l, A. (2013). Principles of Economics. (7th Ed), London: Macmillan and Co.
[40]
Keen, T. S. H. (1993). Factors influencing the adoption of internet banking. Journal of the Association for Information Systems, 1 (1), 1-42.
[41]
Khalifa, A. (2010). ICTs and the future of newspaper in Nigeria. Maiduguri Journal of Arts and Social Sciences, 8 (1), 51-64.
[42]
Khan, B. O. (2007). Correlation of customer loyalty to their banks: A case study of Nigeria, International Journal of Bank Marketing, 24 (7), 494-508.
[43]
Khrawshi, G. (2011). Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of Management Review, 8 (2), 135-172.
[44]
Kolodinsky, B. (2014). A multilevel study of leadership, empowerment and performance in teams. Journal of Applied Psychology, 92 (2), 331-461.
[45]
Lechner, G., & Gudmundsson, S. (2012). The promise of entrepreneurship as a field of research. The Academy of Management Review, 17 (5), 217-226.
[46]
Lee, U., Lee E. W., & Kim O. P. (2017). Information technology for management, transforming organizations in the digital economy. 6th Edition, John Wiley & Sons.
[47]
Lee, J. M. (2015). Exploring mechanisms in the personality-performance relationship: mediating roles of self-management and situational constraints. Personality and Individual Differences, 43 (6), 1344-55.
[48]
Lee, J. M. (2016). Emotions and leadership: The role of emotional intelligence. Human Relations, 53 (8), 1027-55.
[49]
Loudon, K. C., & Laudon, J. P. (2011). Management information system and technology. 4th Edition. NJ: Prentice-Hall.
[50]
Lumpkin, G., & Dess, G. G. (2001). Linking two dimensions of entrepreneurial orientation to firm performance: The moderating role of environment and industry life cycle. Journal of Business Venturing, 8 (3), 429-451.
[51]
Madueme, D. L. (2010). Assessing the psychometric properties of the entrepreneurial orientation scale: A multi-country analysis. Entrepreneurship Theory and Practice, 71-94.
[52]
Margaret, M. Y. (2014). A partial test and development of delone and mclean model of IS Success. Proceding of the International Conference on Information System. considerations, research themes and future research direction.
[53]
McKinsey, F. (2004). A healthy divide: Subgroups as a stimulus for team learning behavior, Administrative Science Quarterly, 48 (2), 202-39.
[54]
Minai K. R., & Lucky, D. (2011). Entrepreneurial orientation and small business performance: A configurational approach. Journal of Business Venturing, 5 (2), 71-91.
[55]
Morufu, R., & Taibat, G. (2012). Enhancing entrepreneurial orientation research: operationalizing and measuring a key strategic decision making process. Journal of Management, 354 (8), 1055-1085.
[56]
Muhammad, J. (2010). Entrepreneurial orientation and firm performance: The unique impact of innovativeness, proactiveness and risk taking. Journal of Small Business and Entrepreneurship, 18 (4), 56-71.
[57]
Oliver, R. L. (2013). A cognitive model of the antecedents and consequences of satisfaction decisions. Journal of Marketing Research, 17 (1), 460-469.
[58]
Qureshi, E. K. (2017). Transformational leadership and emotional intelligence: An exploratory study. Leadership & Organization Development Journal, 21 (3), 157-161.
[59]
Ringim, D. (2012). Knowledge-based resources, entrepreneurial orientation, and the performance of small and medium sized businesses. Strategic Management Journal, 50 (8), 1307-1314.
[60]
Sonja, H. (2010). Essai sur la nature du commerce en général, ed. and with an English translation. (3rd Ed) London: MacMillan and Company.
[61]
Ugwu, L. O. (2015). Organizational impact of information technology on banking and insurance sector in Nigeria. Technovation, 20 (12), 12-26.
[62]
Uppal, J. M. (2011). Internal capabilities, external networks and performance: A study of technology bases ventures. Strategic Management Journal, 4 (1) 615-640.
[63]
Wade, L. (2016). Common method variance in international business. Journal of International Business Studies, 41 (2), 178-84.
[64]
Weill, P. M. (2002). The influence of selected factors on the frequency of ATM usage. Journal of Retail Banking, 10 (1), 47-52.
[65]
Wirsiy, O. P., & Shafack, G. (2004). A factor and structural equation analysis of the enterprise systems success measurement model. in Appelgate, L., Galliers, R., DeGross, J. I. (Eds.), Proceedings of the Twenty-Fifth International Conference on Information Systems. Association for Information Systems, Washington, DC, USA, 8 (3) 449-481.
[66]
Woherem, C. (2016). Information systems effectiveness: A user satisfaction approach. Information Processing & Management, 32 (5), 601–610
[67]
Yunus, H., & Waidi, R. (2011). The emotional quotient inventory: A measure of emotional intelligence, Multi Health Systems, Toronto.
[68]
Rogers M. (1962). Innovation Diffusion Theory.
[69]
Fred K. (1964). Contingency Theory.
Browse journals by subject