Exploring the Moderating Effects of Firms' Experience
Authors/Creators
- 1. Department of Marketing, Lagos State University of Science & Technology, Ikorodu.
- 2. Department of Business Administration, Lagos State University of Science & Technology, Ikorodu.
- 3. Department of Business Administration, Yaba College of Technology, Yaba, Lagos.
- 4. Department of Marketing, Yaba College of Technology, Yaba, Lagos.
Description
This study investigates the moderating effects of firms’ experience on the relationship between
supply chain risk management strategy dimensions and business performance of oil and gas
marketing companies in Lagos State. The study adopted a cross-sectional research design;
1,044 employees of five selected oil and gas marketing companies constituted the population
of the study and a sample size of 362 was derived using Krejcie and Morgan formula. The
study employed mixed sampling technique; purposive, stratified and proportionate sampling.
Primary data were gathered through self-administered questionnaire and 332 copies were
retrieved, representing approximately, 91.7% response rate and later used for analysis. The
study employed descriptive statistics and hierarchical multiple regression analysis to derive
meaning from the data. The findings showed that the relationship between supply chain risk
management strategy and business performance of oil and gas marketing companies in Lagos
State, is significantly moderated by firms’ experience (β = -0.134, t = -6.169, p < 0.05). This
implies that experience enables firms to develop organisational routines to be able to perform
their activities with more efficiency and this may better their performance. It is recommended
that management of oil and gas marketing companies should incorporate good risk
management strategies such as risk-avoidance, risk-reduction, risk-transfer and risk-acceptance
in their operations.