Vol. 10 No. 3(J) (2018)

This study analyzes the effect of free cash flow on the growth of non- financial quoted firms in Nigeria. Specifically, the impact of free cash flow on the percentage change in a total asset of selected quoted firms (Dangote Flour Mills, Honeywell Nig. Plc, Dangote Sugar Refinery, Flour Mills of Nig. Plc, and PZ CussonsPlc) over a period of five years (2012-2016) was analysed. Data used in the study were sourced from the annual reports of the selected quoted firms. Correlation analysis, restricted F-test, Hausmantest, and some panel estimation methods (pooled OLS estimation, fixed effect estimation, and random effect estimation) were employed to analyse the data. Results revealed that free cash flow exerts a negative impact on firms' growth rate, to the tune of -0.000391(p=0.179 > 0.05). The study, therefore, established that rising free cash flow has the capacity to erode the growth prospect of firms quoted on the Nigeria stock exchange. Based on this result, the study recommends that quoted firms in the country decrease their free cash flow, leverage increased turnover, explore viable/positive net present value projects, and reduce operational costs so as to be positioned for better growth in terms of percentage change in total asset.

Flexible work arrangements (FWA) prefer to flexibility regarding an employee’s work location, working times and how much an employee works. FWA practices are designed to keep employees motivated and satisfied with work and non-work related roles. Existing empirical studies on the impact of flexible work arrangements on performance, and job satisfaction have mostly been conducted in developed countries. This paper sought to address this gap by undertaking a study in an organization specific context in a developing country, in particular Durban Westville Eskom, South Africa. The main aim of this paper was to establish the relationship between flexible work arrangements, performance and job satisfaction at Durban Westville Eskom shared services department. This paper is anchored on the two-factor theory, Vrooms expectancy theory, Role theory, and Spillover theory. The target population consisted of 120 employees reporting to revenue management shared services. Simple random sampling technique was used to determine the sample size whereby a sample of 92 employees was obtained. An online questionnaire was used to collect data from the sample. Data was analysed through descriptive statistics and correlation analysis. The findings show that a majority are satisfied with their current work arrangements, and that flexible work arrangement could make them stay with their current employer. In addition, it was found that performance and flexible work arrangement have a strong positive correlation. The study concluded that flexible work arrangements enhanced employee retention, and job satisfaction which led to higher productivity.