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 "Abubakar, Idris Ayokanmi"

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    EFFECT OF INVESTMENT IN INFORMATION AND COMMUNICATION TECHNOLOGY ON FINANCIAL PERFORMANCE OF LISTED INSURANCE COMPANIES IN NIGERIA
    (Department of Banking and Finance, Nasarawa State University Keffi, 2020-09-01) Nwala, Maureen Nneka; Abubakar, Idris Ayokanmi; Onibiyo, Ezekiel Rotimi
    Human activities have been greatly enhanced by the development of science and technology, however these innovations in Information and communication technology (ICT) come at a cost to the firm. Therefore, this study evaluates the effect of investments in ICT on financial performance of listed insurance companies in Nigeria. The population of this study is made up of 25 listed insurance companies on the Nigerian Stock Exchange from year 2012 to 2018. Insurance companies that have complete data set for the periods of 2012-2018 were selected purposively for this study, the sampled insurance companies were 16 in number. Secondary data in the form of panel data are used for this study. The data are collected from the 16 selected insurance companies annual financial reports and accounts. Based on the result of the Hausman specification test, the study adopted the Random effect regression and it revealed that Investment in ICT Hardware and software have significant positive effect on financial performance of listed insurance companies in Nigeria. The study concludes on a general note that investment in ICT improves the financial performance of listed insurance companies in Nigeria. The study therefore, recommends that listed insurance companies in Nigeria should be proactive in adoption of ICT as investments in ICT does not erode profitability.
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    EFFECT OF SELECTED MACROECONOMIC VARIABLES ON STOCK PERFORMANCE IN NIGERIA
    (Department of Banking and Finance, Nasarawa State University Keffi, 2019-01-04) Mungadi, Dauda Danladi; Nwala, Maureen Nneka; Abubakar, Idris Ayokanmi; Onibiyo, Ezekiel Rotimi
    The effect of macroeconomic variables on stock performance hos attracted considerable research interests. This is because mocroeconomic variables interplay serves as barometer for the economy measured by stock performance. This study examines the effect of selected macroeconomic variables on stock performance in Nigeria for the periods of 1983 to 2018 using Autoregressive Distributed Lag technique to analyse the dato. The study proxy stock performance with total market capitalisation white selected macroeconomic determinants used ore foreign workers remittanceā€¢, foreign portfolio, broad money supply and Gross Domestic Product growth rate. The study tests for stationarily of the time series secondary dato with Augmented Dickey Fuller Test and the result of the results of the test suggest that oil the dolo are stationary at first difference, exceptGross Domestic Product growth role that was stationary at level. The study found out that foreign workers remittances, foreign portfolio and broad money supply have significant positive effect on stock performance vjhiie Gross Domestic Product grovAh rale hos an insignificant effect on stock performances. Based on these findings, the siudy concludes that the selected macro determinants should attract government attention in Nigeria. In the light of the outcome of the study, the study recommends that the Central Bank of Nigeria should continue to design frameworks and policy that would promote and retain portfolio Investment in the country and also ensure further reduction In the cost of remittance into the country. That Securities and Exchange Commission and Nigerian Stock Exchange should strive to improve on market capitoUiation of stock market by attracting listing and increased trading activities with a platform that put attractive financial assets in the global market. A growing volume of studies such as (Maku & Atanda, 2010; Mandaci, Atkan, Gumu$ & Tvaronaviciene, 2013; Prempeh, 2016) have investigated the determinants of stock performance especially after the recent global financial crisis by focusing on several categories of macroeconomic variables that affect stock performance. Measures of stock performance differ across empirical studies Most studies used stock market All Shares Index, GOP, total market capitalisation, GDP growth rate and growth rate in market capitalisation. Stock performance is measured by total market capitalization of the Nigerian stock market in this study. The set of macroeconomic variables used to explain stock performance varies across empirical studies, but generally includes broad measures of macroeconomic performance, such as GDP growth rate, unemployment rate, interest rates, money supply, inflation and exchange rates.