EFFECT OF FIXED INCOME SECURITIES ON CAPITAL MARKET GROWTH IN NIGERIA
| dc.contributor.author | Udenwa, Theresa A. | |
| dc.contributor.author | Mairafi, Salihu Liman | |
| dc.contributor.author | Vincent, Harrison S. | |
| dc.contributor.author | Abdullahi, Uthman Yahaya | |
| dc.date.accessioned | 2023-12-10T17:48:47Z | |
| dc.date.available | 2023-12-10T17:48:47Z | |
| dc.date.issued | 2018-06-08 | |
| dc.description.abstract | 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. | en_US |
| dc.identifier.citation | Abdelmonem, S. & Mohamed, L., (2018). Measuring liquidity in financial markets: IMF Working Paper. pp. 1-64, December 2002 edition. Acikalin, S., Aktas, R., & Unal, S. (2008). Relationships between stock markets and macroeconomic variables: An empirical analysis of the Istanbul Stock Exchange. Investment Management and Financial Innovations, 5(1), 7-16. Aduda, J., Masila, J. M., & Onsongo, E. N., (2012). The determinants of stock market development: The case for the Nairobi stock exchange. International Journal of Humanities and Social Science, 2(9). Al-Shami, H. A. A., & Ibrahim, Y. (2013). The effects of macro-economic indicators on stock returns: Evidence from Kuwait stock market. American Journal of Economics, (3)5C, 57- 66. | en_US |
| dc.identifier.uri | https://keffi.nsuk.edu.ng/handle/20.500.14448/943 | |
| dc.language.iso | en | en_US |
| dc.publisher | Department of Banking & Finance, Nasarawa State University, Keffi | en_US |
| dc.subject | Fixed income securities, Capital market, Risk-averse, Nigeria | en_US |
| dc.title | EFFECT OF FIXED INCOME SECURITIES ON CAPITAL MARKET GROWTH IN NIGERIA | en_US |
| dc.type | Article | en_US |