Purpose: The study examines the determinants of SMEs international trade promotion in low and lower-middle-income economies. It also aims to further explain the participation or non- participation of SMEs in international trade promotion; recommended policies to increase SMEs' international trade promotion. Design/Research method: The author used the Gravity Theory in economics with mixed methods on the World Bank enterprises Survey dataset 2009 – 2018, using panel data regression models. Tests of multicollinearity using Stata entirely guided the models. The Pairwise correlation, the variance inflation factors, hausman test, testparm, and reverse causality test using the Poisson Pseudo Maximum Likelihood Model estimator were used.  Findings: The results show that Small enterprises do not significantly promote international trade, while medium enterprises significantly do. The study finds rule of law, education, bank private credits, firms’ age, and trade openness as major determinants of SME trade promotion while inflation and tax constraints are somewhat determinants.  The study found no evidence of reverse causality between exports and SMEs. Limitation: The study is limited in the coverage of the Key Informants Interviews (KII) used by the author to inform the discussion. The KII was only conducted in Liberia with SMEs engaged in exporting while the research data covered 56 low and lower-middle-income economies. Future expansion in the coverage of the KII is recommended. Implication: This study will be useful for policymakers who are engaged with the development of SMEs in low and lower-middle-income countries and academics in the fields of economics and international business management Keywords: Gravity model, SMEs, Trade promotion How to cite:  Smith, John Solunta. (2019). International trade promotion methods for SMEs in low and lower-middle-income economies. International Journal of Financial Accounting and Management, 1(2), 105-118.

Purpose: This study empirically tests the validity of the free cash flow hypothesis among firms quoted on the Nigerian Stock Exchange (NSE) from 2007 to 2017. Research methodology: The study employed a dynamic panel system Generalized Method of Moments (GMM) in analyzing the data generated. Results: the result failed to provide empirical evidence in support of the Jensen free cash flow hypothesis in Nigeria. The equally showed that a high concentration of shareholding in the hand of a few individual increases the amount of dividend paid out to shareholders. The result is however robust using different methods.  Limitations: We focused only on testing the validity of the free cash flow hypothesis proposed by Jensen (1986). Contribution: The study provided empirical evidence that invalidates the propositions of the free cash flow hypothesis among publicly quoted firms in Nigeria. The result is robust using different estimation techniques.  Keywords: Free cash flow hypothesis; Dividend payout

Purpose: The study aims to examine the determinants of profitability of commercial and microfinance banks in Nigeria, in order to be able to highlight the possible effect of Central Bank of Nigeria policy actions in influencing the internal factors and subsequently the profitability of the banks in Nigeria. Research methodology: The study adopted the panel data research design. Out of the total number of 22 commercial banks and 898 microfinance banks the study sampled 4 commercial banks and 4 microfinance banks using random sampling technique, and based on the availability of data. Data were sourced from the annual balance sheets and income statement of banks from 2010 to 2018 and analysed using the Random Effect Panel Estimation Technique. Finding: Findings from the study show that liquidity ratio is not a strong determinant of banks profitability whether commercial or microfinance banks while capital adequacy is a significant determinants of the profit level in both banks with positive effect for microfinance and negative effect for commercial banks. The study also found that real GDP is a significant determinant of only commercial banks profitability. This by implication indicates that the recent policy action by the central bank which saw the increase of cash reserve ratio from 22.5% to 27.5% is expected to have an insignificant reduction on the profitability of the banks. Limitation: The major limitation of the study is the use of a single measure of profitability and a single measure of external factor. The study period as well as its sample size was also considered as limitation. Contribution: Findings from this study are useful to the management of the banks, the selected banks to be more specific, and shareholders. Also, this study provides insights on the possible effect of the recent policy of the Central Bank on the banking sector. Thus, the results of this study are useful to policy makers and regulators of the financial system in Nigeria. Keywords: Profitability, Commercial Bank, Microfinance Banks, Liquidity Ratio, Capital Adequacy, Return on Asset, Real GDP