Browsing by Author "Etudaiye-Muhtar, O.F."
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Item Determinants of Financial Deepening in Nigeria(Department of Accounting Kogi State University Anyigba, Kogi State Nigeria, 2013) Abdullahi, Ibrahim Bello; Etudaiye-Muhtar, O.F.; Abdulkadir, R.I.The purpose of this paper is to examine the determinants of financial deepening in Nigeria with a specific focus on how financial sector policies, real interest rate and the level of economic activity affect financial deepening. The study is carried out using the Bounds Test approach to determine the long- run and short-run relations hip between financial deepening, real output and financial sector policies employing time series data. A financial liberalization index is constructed to show the effect of financial liberalization on financial deepening. The study finds out that in the long run, both the level of economic activity and the real interest rate have a positive effect on financial deepening with only the real interest rate being significant. The financial liberalization index is seen to hove a negative and significant effect on financial deepening. The paper recommends the removal of interest rate controls and advocates for the effective implementation of financial sector policies in order to deepen the Nigerian Financial System.Item The Effects of Film Size on Risk and Return in the Nigerian Stock Market(Department of Business Administration, Ibrahim Badamasi Babangida University, Lapai, Niger State, 2011) Abdullahi, Ibrahim Bello; Lawal, W.A.; Etudaiye-Muhtar, O.F.Capital Market theory is concerned with the equilibrium relationship between risk and expected return on risky assets. Within this framework, this paper seeks to empirically examine the effect of sectoral size (sectoral capitalization) on risk and expected return for the period of 2000-2004 as monthly. This study employed multi-factor model (Arbitrage Pricing Theory) in analysing the effects of sectoral size all. the risks and returns, using Ordinary Least Square (OLS) estimation procedure. 771is study revealed that the size of firm or sector has no significant effect on either firm or sectoral return or risk ill the Nigerian Stock Market. The results are broadly consistent with similar studies for most developed and emerging economies (see: Funga and Leug 2000; Fernald and Rogers 2002; Barry 2002; Fan, Lu & Wang 2009; and Abdullahi 201I).