This study seeks to examine the impact of financial deepening on economic growth in Nigeria. An annual data covering the period of 1990 -2017 was used. In other to test the objective of the study, multiple regression techniques were used, also, error correction model was conducted to test the long run equilibrium of the model. Findings revealed that the variable has a long run effect on economic growth since the ECM result reveals a negative and significant relationship. Also based on the short run test, the result reveals that there is a negative and insignificant relationship between the ratio of credit to private sector to gross domestic product (CPS_GDP) and gross domestic product (GDP). There is also a negative and insignificant relationship between inflation rate (INFL) and gross domestic product (GDP).Furthermore, the result shows that there is a positive and insignificant relationship between the ratio of gross fixed capital formation to gross domestic product and gross domestic product (GDP).Also, it was found that there is a negative and insignificant relationship between the ratio of money supply to gross domestic product in the economy and gross domestic product (GDP). Based on the findings, we recommended that government policy should motive financial institutions to grant low cost loans and advances to private investors and to monitor the use of the loan in the economy. Government should also ensure that they create enabling environment for domestic investors to invest funds. Finally, the government yearly budgets should be directed towards capital expenditure rather than recurrent expenditure in the country
This paper was set out to validate the random walk hypothesis on security returns in the Nigeria. The primary objective was to investigate the hypothesis of random walk on security returns in the Nigeria capital market.This study made use of data collected annually from the Nigerian stock exchange (NSE) between 1986-2017. However, in order to validate the theory of RW in the Nigeria bourse, unit root test was adopted and the hypothesis was tested at a critical value of 5% and 10% respectively. It was revealed from the analysis that the Nigeria capital market is currently nonrandom. This implies that and participant can outperform the market with past return if they can efficiently allocate their asset. We therefore recommended that investors should put into consideration the trend of movement of returns in other to maximize their portfolio.
This study is set to examine the impact of corporate governance, firm attributes on financial Performance of selected commercial banks in Nigeria. The primary objective is to examine how corporate governance, firm attributes influence financial Performance of banks. In other to achieve the objective, secondary data were collected from the annual report of eleven banks (11). Data collected was analysed using panel regression. Based on the analysis the research found that there is no significant relationship between board size and firm performance (ROA), that there is no significant relationship between board independence and firm performance (ROA), also that there is no significant relationship between board gender diversity and firm performance (ROA), the study also reveals that there is no significant relationship between board meetings and firm performance (ROA), also that there is no significant relationship between director's shareholding, firm size and firm performance (ROA). However, based on the findings, the research recommended that board independence should be truly enhanced by appointing professional outside directors who are truly independent of the management and the activities of the firm, as this is the only way that the board can bring meaningful impact to bear on their monitoring role of management with purposeful objectivity and finally, optimal board size of six (6) based on our descriptive statistics results to banks in Nigeria. This supports the argument that spending on large board is a major decreasing factor to earnings and firm value.
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