AN EMPIRICAL ANALYSIS OF THE IMPACT OF PRIVATE SECTOR ON THE ECONOMIC GROWTH AND DEVELOPMENT OF NIGERIA (1980–2010)


Private SectorAN EMPIRICAL ANALYSIS OF THE IMPACT OF PRIVATE SECTOR ON THE ECONOMIC GROWTH AND DEVELOPMENT OF NIGERIA (1980–2010)

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ABSTRACT
This research work on A Comparative Study of Expenditure Controls method in Government and private Hospitals is aimed at studying and analysing the different methods of expenditure control that is being adopted by these hospitals, their practical application and their level of effectiveness.It is aimed at carrying out a comparative analysis of two hospitals. To achieve the aim of this research,secondary data through textbooks and journals were used to review some of the related literature.Equally, questionnaires, interview and observation, which sought to find out facts needed for analysing, were used. The questionnaires were analyzed by simple percentages while hypothesis were tested using chi-square statistics. The findings of the analysis indicate among others that the method of expenditure control used by both hospitals are not the same; The daily control method for private hospitals and the vote card method for Government Hospitals. The different methods of expenditure control used by the two hospitals are effective, but with slight loopholes associated with vote card method. I recommend among others that both hospitals should adhere strictly to authorization procedure for drug purchased and materials purchases. Both hospitals should exhibit high degree of cash management and employ competent personnel for proper and efficient expenditure control.

TABLE OF CONTENTS

Approval page ii

Certification page iii

Dedication iv

Acknowledgement v

Abstract vi

Chapter One

1.0 Introduction

11.1 Background Of The Study

11.2 Statement Of the Problem

41.3 Objectives Of The Study

61.4 Research Questions

61.5 Formulation Of Hypotheses

71.6 Significance Of The Study

81.7 Scope Of The Study

91.8 Limitations Of The Study

91.9 Definitions Of Terms 10

Chapter Two

2.0 Review Of Related Literature 122.1

Introduction

122.2 Overview Of Expenditure Control

122.3 The Expenditure Control Methods 142.4 Internal Auditing Overview

192.5 Management Audit

252.6 Cost Benefit Analysis

272.7 Quantitative Models For Expenditure Control

282.8 Items Related To the Income Generated In A Hospital

322.9 Items Related To The Expenditure Of A Hospital

362.10 The Expenditure Control Method That Are In Application

372.11 Vote Card Method of Expenditure Control 42

Chapter Three

Research design and Methodology

3.0Introduction

453.1Sources of Data

463.2 Research Instrument 473.3 Reliability and Validity of Research Instrument. 48×3.4 Population

493.5 Sample Size/Technique

503.6 Administration Of Research Instrument

523.7 Method Of Data Analysis

523.8 Decision Criterion For Validation Of Hypotheses 53

Chapter Four

4.0 Data Presentation and Analysis

544.1 Data Analysis/Presentation 544.2

Testing Of Hypotheses

674.3 Discussion of Findings 75

Chapter Five

5.0 Summary of findings, Conclusion and Recommendations 78

5.1 Summary of findings 78

5.2 Conclusion 79

5.3 Recommendation79

Bibliography 82

Appendix 1 85

Appendix 2 86

CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Expenditure control or cost control is part of management control process, in every organisation.This process is very important to any organisation be it profit making organisation or non-profit making organisation. Thus, lack of this practice in any organisation will cause misapplication of cash in cash disbursement process and this will create a very big problem leading the organisation into deficit and at an extreme case, the organisation might wind up. Many researches have been conducted in the reason for winding up of companies and organisation in which lack of expenditure control process had found responsible.Expenditure control has been defined as the process by which managers utilize effectively and efficiently, the scarce resource in the achievement of the organisational goals. At this juncture, let us look at expenditure and control from separate perspective.2Expenditure is the total amount spent on the process of trying to achieve a particular organisational goal. Control means to order, limit, instruct or rule something or someone’s actions. It is used by either government officials or organisation managers to make restrictions on wages increases, immigrate credit and so on (which are all expenditure).As regards, this research work, which is the comparative study of expenditure control methods in government and privately owned Hospitals, A study of the University of Nigeria Teaching Hospital Enugu (UNTH) and Toronto Hospital and Maternity Onitsha; this implies a comparative study of non-profit making organisations, since UNTH is government owned Hospital while Toronto Hospital is privately owned Hospital as a category of profit making organisation.Private Sector. Non-profit making organisations are characterized by the following:a) There is neither a conscious profit motive nor an expectation of earning net income.b) Private Sector.No profit of any excess of revenue over expenditure is distributed to those who contributed support through taxes and voluntary donations.Private Sector.3In profit making organisations, the reverse of these characteristics is the case in the sense that their major objective is to maximize profit and excess of revenue over expenditure are given to the owners of the organisation.Private Sector.Government owned hospitals pay more attention to services they render to the public, as their major objectives is to provide services that fulfil a social needs for those who do not have the purchasing power to acquire these services themselves. Irrespective of the fact that privately owned hospitals try to render good and quality services to the public, they pay more attention to maximize of profit which their major objective.Comparative study of expenditure control in Government and privately owned Hospital which is major research question in this research work has to with the different ways and methods by which expenditure is being controlled in each of the hospitals so that they will not run into deficit or liquidations.According to Johnson (1976), the management control concept which imbibes the expenditure control are the same both in profit oriented and non-profit oriented organisations, but the implication of these concepts4differ in important respect. We will want to find out if also the expenditure control methods are the same or differ in the two hospitals under study, owning to the fact that one is profit oriented and the other is non-profit oriented.Private Sector.

1.2 STATEMENT OF THE PROBLEM

The problems encountered by the Government and privately owned Hospitals in expenditure control are as follows: The problem of daily control method and the vote card method. The problem encountered is to know the effective method to use in the two hospitals. Here, the problem encountered is to check whether the daily control method will be efficient and effective in the Government owned hospitals or whether the vote card method is the best. Another problem encountered by the hospitals in expenditure control is the problem of internal control. Internal control is the essential feature of an organisation, be it profit making or non-profit making, and it is expected to be well managed effectively and efficiently. Any5problem or limitation of the internal control will pose a problem to the expenditure control of the organisation.Therefore, the above problems encountered by the two hospitals are the problems of expenditure control methods encountered by the government and privately owned hospitals by the government and privately owned hospitals that attracted the attention of the researcher.The problem definition in this research work is to investigate and analyse the different ways and methods by which expenditure is controlled in government owned hospitals and privately owned hospitals so that they will not run into deficit and liquidation. As a comparative study, two hospitals has been selected for the study, they are: University of Nigeria Teaching Hospital Enugu (UNTH) for government owned Hospitals, and Toronto Hospital and Maternity Onitsha for privately owned hospitals.In this research, we study the different methods of expenditure control being adopted by these hospitals and their practical application and their level of effectiveness.This study will form a basis for our analysis which will help to answer some research questions.

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