60 research outputs found
Capital Market And Unemployment In Nigeria
Get PDFThis paper examines how the Nigerian capital market affects unemployment in Nigeria with a view to identifying how the market has been able to curtail unemployment over the years or otherwise. It employed annual series data from 1986 to 2012 on unemployment, market capitalization and other data obtained from the Central Bank of Nigeria, Statistical Bulletin. The study adopts the Johansson cointegration vector error correction technique for data analysis.The result shows that unemployment has risen unabatedly since the adoption of Structural Adjustment Programme (SAP) with an average unemployment rate of 8.12 per cent for the period while market capitalization relative to the size the economy was 14.42 per cent. The analysis also shows that while, economic growth significantly curtails unemployment capital market development fails to limit unemployment. The stock market has grown over the years at the expense job creation in Nigeria. It is expected that efforts are geared towards efficient capital market development to enhance mobilization of funds for long term investment by firms and propel job creation. The government should also focus on developing those labour intensive sectors of the economy while pursuing its economic growth polic
CASUALIZATION AND LABOUR UTILIZATION IN NIGERIA
Get PDFABSTRACT
Casualization in the Nigerian labour market is a subject of great concern. Increase casual employees are filling positions that are permanent in nature; in line with employee vulnerability in Nigeria is the high level of unemployment and accompanying poverty. The world economic meltdown has bred a dangerous work environment where many desperate job seekers in the labour force are willing to take any job for survival purposes rather than dignity. Labour exploitation is pervasive in many organizations in Nigeria. It manifests itself in one form or the other including poor salary, wages and salary arrears system, training, promotion, motivation, sense of belonging, job satisfaction and dehumanization of work and workers. Casualization is the other name for a temporary employment, which is manifest in industries, whether in transnational, multinational, public or private and in the informal sector. Definitions of casual employment are often a site of confusion and controversy, marked by tensions between vernacular, regulatory and contractual meanings. Therefore, this paper is to examine casualization and labour utilization in Nigeria. The paper was guided by the neo-liberal theory and the social action theory. The choice of these theories is informed by the fact that no one single theory can explain in totality the relationship between casualization and labour utilization in Nigeria.
Key words: Dehumanization, Labour Exploitation, Job Satisfaction, Temporary Employment, Privatization and Commercializatio
Analysis of financial structure of cooperative organization in Nigeria
No full textThis study analysed financial structure of workers cooperatives using University based cooperatives as a case study. The paper employed secondary data from annual reports and accounts of the cooperatives between 2012 and 2018 accounting years and uses descriptive statistics to analysis the data. The financing structure of the cooperatives consists of share capital, reserves and savings. The assets structure of the cooperative consist of outstanding loans to member-patrons, cash and stock of trading items. Further analysis shows that the trend of share capital as a component of financing structure was increasing more consistently over the period
Casual Work Arrangements (CWAs) and Its Effect on Right to Freedom of Association in Nigeria.
No full textCasual work is increasingly becoming the norm of a global economy as companies undergo restructuring,
privatization, concentration on core activities and modifications in work organization and technology.
These factors certainly affect traditional employment relations and the exercise of freedom of association
and collective bargaining rights inherent in them. Flexible work patterns are now becoming dominant in
developing countries and this makes it more difficult to organize workers for collective representation. A
fall-out of globalization in Nigeria is the increase in CWAs. Workers in this form of work arrangement
are subject to insecurity and little or no protection as labour legislation can seldom be effectively applied
to them. Globalization is said to provoke the deterioration of working conditions in developing countries
like Nigeria. According to the International Labour Organization (ILO) statistics union membership
though still significant in large workplaces, has decreased in almost all parts of the world in the last
decade. The relevance of collective representation is not always obvious when workplaces are small or in
activities where there is little experience of collective organization and representation of interests. These
factors are leading to a widening representational gap in the world of work. Based on these assertions, this
study tends to examine casual work arrangements and freedom of association in Nigeria. A labour market
segmentation theory provided the conceptual framework
Revisiting the eye opening response of the Glasgow Coma Scale
No full textThe Glasgow Coma Scale (GCS), introduced by Teasdale and Jenneth in
1974, has received tremendous acclaim from clinicians and has been
extensively used in clinical practice for the evaluation of the level
of consciousness. The author notes that some traumatic brain injury
patients close eyes in response to painful stimuli as opposed to the
eye opening response to pain of the GCS. A revision of the eye opening
response subsection of the GCS is suggested
Performance of mutual funds in Nigeria
No full textThe study examines the performance of 37 mutual funds distributed over six broad
portfolio classes traded on the Nigerian Stock Exchange using monthly data from
January 2012 to December 2015, with a view to evaluating the stock selection skills of
the fund managers. Their performance was evaluated using the Sharpe and Treynor
ratios and Jensen’s Alpha measure. The results showed that the market generally
generated negative risk premium and the mutual fund portfolios similarly generated
negative mean excess return, failing to compensate investors for investing in risky assets.
The Sharpe, Treynor and Jensen’s Alpha measures showed that the funds consistently
failed to provide superior risk-adjusted returns and so fund managers cannot claim to
have demonstrated any form of stock selection or portfolio diversification skillEste artículo examina el rendimiento de 37 fondos de inversión, pertenecientes a seis categorías diferentes (en función del tipo de activos en el que invierten) y cotizados en la
Bolsa de Valores de Nigeria, en el periodo enero 2012 – diciembre 2015, con el objetivo
de evaluar la capacidad de gestión de los gestores de este tipo de fondos. Para ello se
utilizan los ratios de Sharpe y Treynor y la Alfa de Jensen. Los resultados muestran que,
en general, el mercado no es capaz de compensar a los inversores por el riesgo asumido
en la inversión. Las ratios de Sharpe y Treynor, así como la Alpha de Jensen, muestran
que, en el periodo objeto de análisis, la inversión en fondos de inversión no implica un
mayor rendimiento ajustado al riesgo, es decir, los gestores de dichos fondos no han demostrado capacidad alguna de selección de activos y diversificación de cartera
FINANCIAL MARKET AND DERIVATIVES
No full textPREFACEA derivative is said to be a security with a value that is reliant upon or derived from, anunderlying asset or group of assets asa benchmark. The derivative itself is a contractbetween two or more parties, and the derivative derives its price from fluctuations in theunderlying asset.Due to a very high degree of volatility of the financial markets, with the use of derivativeproducts, it is possible to partially or fully transfer price risks by locking-in asset prices. Allthese concepts and ways around it could not be known without a full understanding of thefinancial market and derivatives. The motive for this book, therefore, is to provide students,researchers, professionals, finance managers, and lecturers with the concepts, theories, andkey financial terms that could enhance their understanding and practice of derivative.This book covers a wide range of body of knowledge in financial derivatives; it is made upof eleven chapters which provide the readers the adequate information regarding thecontents. Apart from the numerous illustrations in each chapters, there are several end ofthe chapters' practice questions. Also, there are 192 objective questions and answerincluding, 32 practice questions and suggested solutions to stimulate reading and learning.This book on Financial Market and Derivatives, however, will serve as a great financial andresearch tool to professional students and students of various higher institutions, mostespecially postgraduate students, and at the same time a good source of financialinformation for practitioners.To buy the complete hard copy or download a full copy of this book for offline reading on a laptop, mobile phone or desktop computer.Contact:Professor Godwin Emmanuel [email protected]; [email protected]+234-8033737184, +234-8055863944</p
Impact of fiscal policy on development financing: Evidence from Nigeria
No full textThis study examined the relationship between fiscal policy and development financing in Nigeria and the extent to which the former effects the latter. The study employed public choice framework and the model is estimated with time-series data from 1981 to 2014, using the Johansen estimation technique. The findings revealed that there is a strong positive relationship between fiscal policy and development financing, real GDP per capital, consumer price index and capital expenditure respectively. The results further confirmed that more expenses were incurred funding recurrent than capital and this had taken its toll on development. The study recommended that government should increase revenue base so as to fund capital expenditure in order to achieve sustainable development while it is also necessary to reduce recurrent expenditures and domestic debt
Interest income and deposit money banks (DMBs) performance in Nigeria
No full textThe role of deposit money banks (DMBs) as a critical component of the financial intermediary component of the financial systems for the benefit of their shareholders and the economy at large has become more pronounced in recent times. Banks help link both the surplus spending unit and the deficit spending unit for a fee which is interest income. Interest income is generated from the traditional activities of banks as a reward for their intermediation. This study thus, examined the impact of interest income on the performance of DMBs in Nigeria. The study employed data from the annual reports and accounts covering the period 2012-2017 of fifteen (15) selected interest charging DMBs out of the twenty-one (21) listed banks on the Nigerian Stock Exchange as on 31st December, 2018. The results obtained from the random effect model indicate that interest income and capital adequacy contribute and significantly drive the profitability of the Nigerian DMBs. The study therefore recommends that DMBs should maintain an adequate level of capital and a stable interest income through effective management of loans and advances in order to increase the income generated from lending and consequently improve their profitability for the benefit of their shareholders
Financial Intermediaries and Capital Market Development in Nigeria
Get PDFThis study investigates the impact of financial intermediaries on
capital market development in Nigeria employing co-integration. To capture the
activities of financial intermediaries, five proxies were used to explain financial
intermediaries which include credit to the private sector to GDP, broad money
supply and total bank savings while on the other hand, market capitalization was
used to capture capital market development covering the period of 1981 to 2016.
The result revealed that in the long run, credit to private sector and money supply
will lead to an increase in capital market development while banks total savings
and government expenditure results to a decrease in capital market development
in the long run. The study recommends that the Central Bank of Nigeria should
ensure that the domestic credits provided by the banking sector are directed into
their appropriate uses and government expenditure be directed to productive
sectors and recurrent expenditure be reduced by government. Credit facilities
should also not be restricted to the large-scale manufacturing industries only, but
it should also be extended to small and medium scale enterprises
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