Department of Banking and Finance

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https://keffi.nsuk.edu.ng/handle/20.500.14448/555

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Browsing Department of Banking and Finance by Author "Abdullahi, Uthman Yahaya"

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    DO ACADEMIC DIRECTORS MATTER IN CORPORATE BOARDROOM?
    (Department of Banking & Finance, Nasarawa State University, Keffi, 2017-06-18) Badru, O. Bazeet; Mairafi, Salihu Liman; Abdullahi, Uthman Yahaya
    Although the composition of the board is a critical element in the board’s ability to influence corporate outcomes, there is yet no consensus on how to arrive at a board of best quality. Besides, whether individuals in the academic environment are better positioned to fill this gap remains a puzzle in the field of study of accounting, finance and management. As a result, the current study conducts a systematic review on relevant empirical literature on the role of academic directors on corporate outcomes. Based on the review, we find that academic directors have significant influence on corporate outcomes such as company performance, corporate financial reporting quality, corporate philanthropy and other financial policies decision making process. However, we find that empirical evidence on all these is mainly skewed toward developed economies, particularly the US without any single study in the developing economies. In line with this aforementioned evidence, we find it difficult to conclude or generalise the influence of academic directors on corporate outcomes in developing economies. On this note, we suggest that there is need for further empirical studies in this arena so that policy makers, shareholder activists and scholars can have better understanding on the importance of having academic directors in the boardroom.
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    EFFECT OF FIXED INCOME SECURITIES ON CAPITAL MARKET GROWTH IN NIGERIA
    (Department of Banking & Finance, Nasarawa State University, Keffi, 2018-06-08) Udenwa, Theresa A.; Mairafi, Salihu Liman; Vincent, Harrison S.; Abdullahi, Uthman Yahaya
    This study examines the effect of fixed income securities on the growth of capital market in Nigeria over the period 2010-2020. Fixed income securities were proxied by government bond and treasury bill while capital market growth was proxied by market capitalization. Ex post facto research design was adopted as quarterly time series data was obtained from central bank of Nigeria annual statistical bulletin. Descriptive statistics and the ordinary least square multiple regression techniques were the main statistical tools used in the analysis of data. Additionally, the study conducted unit root test and test for cointegration to ascertain stationarity and long run relationship respectively. The result of the regression reveals that government bond have significant effect on capital market growth. However, treasury bills show insignificant effect on capital market growth in Nigeria. Based on the findings, the study concludes that fixed income securities affect the capital market growth in Nigeria. Therefore, the study recommends that the fixed income securities should be properly supervised and regulated as it forms an integral part of a capital market and serves important functions in an economy by means of providing liquidity for both government and private investors.