Journal Articles
Uncategorized (404)
CORRUPTION IN NIGERIA : IMPLICATIONS FOR URBAN DEVELOPMENT
CORRUPTION IN NIGERIA : IMPLICATIONS FOR URBAN DEVELOPMENT
CONFLICTS RESOLUTION: THE ROLE OF AFRICAN UNION AND THE UNITED NATIONS ORGANIZATION IN THE DARFUR CRISIS
CONFLICTS RESOLUTION: THE ROLE OF AFRICAN UNION AND THE UNITED NATIONS ORGANIZATION IN THE DARFUR CRISIS
BLUNDERING INTO ECONOMIC SOLUTION WITH PRIVATIZATION: IMPLICATIONS ON NATIONAL INFRASTRUCTURAL DEVELOPMENT
BLUNDERING INTO ECONOMIC SOLUTION WITH PRIVATIZATION: IMPLICATIONS ON NATIONAL INFRASTRUCTURAL DEVELOPMENT
Phytochemical screening, free radical scavenging and antibacterial activity of Cassia sieberiana root bark extracts
Phytochemical screening, free radical scavenging and antibacterial activity of Cassia sieberiana root bark extracts
Synthesis, Characterization and kinetic studies of Fe (II) and Cuddle (II) complexes of nicotinic acid hydrazide
Synthesis, Characterization and kinetic studies of Fe (II) and Cu (II) complexes of nicotinic acid hydrazide
proximate and mineral compositions of ipomoea carnea seeds
proximate and mineral compositions of ipomoea carnea seeds
Application of Probability Theory in Small Business Management in Nigeria
Application of Probability Theory in Small Business Management in Nigeria
Repositioning Kogi State Primary Education Sub Sector for Effective Teaching and Learning
Repositioning Kogi State Primary Education Sub Sector for Effective Teaching and Learning
Effects of Information and Communication Technology (Ict) on Nigerian Educational System: A Case Study of Kogi State University, Anyigba
Effects of Information and Communication Technology (Ict) on Nigerian Educational System: A Case Study of Kogi State University, Anyigba
The Impact of Globalization on Developing Economies
The Impact of Globalization on Developing Economies
ASSESSMENT OF ARSENIC CONTAMINATION OF UNDERGROUND WATER RESOURCES IN ASA LOCAL GOVERNMENT AREA OF KWARA STATE, NIGERIA
ASSESSMENT OF ARSENIC CONTAMINATION OF UNDERGROUND WATER RESOURCES IN ASA LOCAL GOVERNMENT AREA OF KWARA STATE, NIGERIA
Studies of Mashing Methods for Beer Brewing with Sorghum
Studies of Mashing Methods for Beer Brewing with Sorghum
The Relative Importance of Macro and Firm-Level Fundamentals to Nigerian Stocks’ Prices: Lessons for other Emerging Markets
The recapitalization policy of the Central Bank of Nigeria in 2005 increased transactions in the Nigerian stock market and also attracted the interest of many investors. As most capital markets are pro-cyclical, the Nigerian stock market was not different. The investors’ interests were not sustained over a long period of time due to a crash. Whenever there is a burst of the market bubble, it is always attributed to a deviation of the stock prices from the fundamentals of the firms that issue the stocks. Therefore, this study investigates the issue of movement in stock prices and the various changes that occurred in the characteristics of banks’ stocks prices between 2006 and 2010. This study adopts pooled least square regression method using a panel of 10 banks to find out the major determinants of stock prices in the Nigerian stock market with the view to establish if the burst was actually a function of deviation of the price from the fundamentals of the firms. One of the striking findings of this study is that prices of banks’ stocks have been mostly driven by the announcement and issuance of returns on investment at previous time periods – declared dividends. Both at individual bank level and the aggregate banks’ level, declared dividend proved to be the major driver of stock prices. This implies that the burst might not have been as a result of deviation of the prices from the fundamentals of the banks, rather by other forces outside the firm fundamentals.
