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Open Access · Peer-Reviewed

African Journal Of
Social Sciences &
Management

An international, multidisciplinary, open-access journal publishing high-quality original research in social sciences, management, and related studies in African and related economies.

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Call for Papers

Call for Papers — Volume 1, Issue 1 (2026)

VolumeVol. 1, Issue 1
APCFREE
DeadlineOngoing
ReviewDouble-blind

African Journal of Social Sciences and Management (AJSSM) is calling for well-researched original papers for Volume 1, Issue 1.

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All FieldsEconomicsEducation Policy and ManagementFinanceManagement SciencesPublic Administration

Latest Articles

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Economics

Government Expenditure on Education and Health in Nigeria: Implications for Economic Growth using Evidence from ARDL Analysis

Prosper C. Ohanyere, and Omezue A. Nnali

This study examines the effects of government expenditures on education, health and economic growth in Nigeria using time series data from 1981 to 2024. Specifically, the study evaluates the effects of government investment on education and health, school enrolment and gross fixed capital formation on the growth of the Nigerian economy. Preliminary data analysis showed that the variables were integrated of order I(0) and I(1), validating the adoption of the ARDL technique. The major findings of the analysis indicated that a robust long-run relationship exists between economic growth and government expenditures. The results further revealed that government investment in human capital through education and health showed a significant (p < 0.05) positive long-run impact on economic growth. School enrolment showed a significant (p < 0.05) and positive effect on economic growth in both the short and long run, while gross fixed capital formation positively influenced long-run economic growth. Relying on the findings, this analysis advised that the government should continue to boost its allocation to the education and health sectors; the government should also implement measures that directly target outcomes, such as increasing school enrolment through initiatives like free education and school feeding programs, and enhance public-private partnerships to boost capital formation.

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Economics

Armed Conflict, Institutional Quality, and School Enrollment in Sub-Saharan Africa: Evidence from an Entropy Balanced Panel

Edokat Edward Tafah and Ngwenyi Meungwe Chefor

This study evaluates the impact of armed conflict on school enrollment across 37 Sub-Saharan African countries from 1990 to 2023. Using entropy balancing and fixed effects panel regression, the study finds that conflict reduces gross primary enrollment by 0.9 to 1.1 percentage points. Girls experience greater enrollment losses than boys and remain depressed three years after conflict ends, whereas boys recover within that window. Central Africa suffers a 3.0 percentage point penalty, while West Africa shows statistically insignificant effects. Control of corruption fully neutralizes the conflict penalty at a threshold corresponding to the governance levels of Ghana and Senegal. Policy should prioritize legally ring fenced education budgets and anti-corruption measures during and after conflict.

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Finance

Portfolio Optimization and Financial Risk Analysis using Quantitative and Computational Methods: Evidence from selected S&P 500 Firms

Oyebamiji Sodiq Akorede, Adeyemi Paul Oluwatimilehin, Adedeji Teslim Olaide, Akinyemi Akeem Alabi, Ruth Sinmilejesu Alesinloye

This study examines portfolio optimization and financial risk analysis for ten large-cap U.S. equities drawn from seven GICS sectors of the S&P 500, covering the period January 2021 to December 2025. Motivated by the well-documented limitations of classical mean-variance (MV) optimization (including sensitivity to return estimation error and the systematic underestimation of tail risk in non-normal return environments), the study adopts an integrated quantitative and computational framework comprising LASSO regression-based return prediction, Markowitz MV optimization, historical Value-at-Risk (VaR), Conditional Value-at-Risk (CVaR), and Monte Carlo simulation. Three portfolio strategies are constructed and evaluated which included a Classical MVO portfolio using historical mean returns, a Machine Learning-Enhanced portfolio substituting LASSO-predicted returns as expected return inputs, and an Equal-Weight benchmark. Results indicate that both optimized portfolios substantially outperform the Equal-Weight benchmark on a risk-adjusted basis, achieving Sharpe ratios of 1.374 and 1.317 respectively against the benchmark's 0.826. The ML-Enhanced portfolio generates the highest mean simulated five-year terminal wealth of 4.037 times the initial investment, with a near-zero probability of capital loss (0.05%) compared to 0.75% for the Equal-Weight strategy. Individual firm risk analysis reveals pronounced tail-risk heterogeneity, with Amazon recording the most extreme 99% CVaR of −25.210% and Coca-Cola the most resilient at −5.964%. The systematic divergence between VaR and CVaR estimates across all entities provides direct empirical support for CVaR's theoretical superiority as a risk measure in leptokurtic return environments which affirm the value of integrating machine learning with classical optimization theory and tail-sensitive risk measurement for evidence-based portfolio construction.

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Editorial Board
P

Professor Felix Fofana N'zue

Honorary Editor-in-Chief

P

Professor Ezebuilo Romanus Ukwueze

Advisory Board

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Announcements
Free Article Processing Charges for Inaugural Volume
Invitation for Peer Reviewers
About the Journal

Advancing African Scholarship

AJSSM journal

African Journal of Social Science and Management (AJSSM) is an international, multidisciplinary, open-access, and peer-reviewed journal that aims to publish high-quality original articles, both theoretical and empirical, in all areas of social sciences, management, and related studies in African and related economies.

AJSSM is one of the top preferred journals among early and mid-career researchers, owing to its research mentorship approach to manuscript review using MS Word Track Changes.

Journal Details

TypeOpen Access, Peer-Reviewed
ModeOnline
FrequencyQuarterly (4 issues/year)
CitationAPA 7th Edition
Similarity Index≤ 25% threshold
IndexingProcessing
LicenseCC BY 4.0
Article Processing Charges
FREE
for Volume 1 & 2

Mentorship-led Review

Our reviewers do more than evaluate — they mentor. Reviewers provide detailed, constructive feedback that helps authors improve their work while learning the craft of academic writing.

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Double-blind Peer Review

Every submitted manuscript undergoes initial editorial screening, followed by evaluation by 2–3 independent expert reviewers. Both author and reviewer identities remain confidential throughout the process.

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Open Access & COPE

All published articles are freely accessible under the Creative Commons CC BY 4.0 license. AJSSM is committed to the highest ethical standards and complies fully with the Committee on Publication Ethics (COPE).

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Scope

Scope of the Journal

AJSSM covers a broad multidisciplinary range across social sciences, management, and related studies. Research falling within any of the following fields is welcome for submission.

  • Accounting
  • Acturial Sciences
  • Agricultural Policy and Management
  • Banking
  • Business Administration
  • Business and Entrepreneurial Studies
  • Climate Change and Sustainability
  • Communication Studies
  • Company and Business Laws
  • Conflict Resolution and Peace Studies
  • Cooperative Economics and Management
  • Corporate Social Responsibility
  • Criminology
  • Data Sciences
  • Demographic and Population Studies
  • Development Studies
  • Economics
  • Economics of Education
  • Education Policy and Management
  • Environmental Management
  • Finance
  • Governance
  • Health Policy and Management
  • Hotel Management and Tourism
  • Human Geography and Regional Planning
  • Human Resources Management
  • Industrial Relations
  • Information and Communication Technology for Development
  • Insurance
  • Intelligence and Security Studies
  • International Relations
  • Legal Studies Related To Development And Business Management
  • Library Management
  • Local Government Studies
  • Management Sciences
  • Marketing and Advertising
  • Nutrition Management
  • Office Management
  • Philosophy
  • Political Science
  • Psychology
  • Public Administration
  • Public Relations
  • Secretarial Administration
  • Social Work
  • Sociology
  • Statistics
  • Taxation
  • Transport and Logistics Management