DETERMINE THE DEPTH OF THE CAPITAL MARKET AS IT AFFECTS NIGERIAN ECONOMY DEVELOPMENT FOR THE PERIOD OF 1993-2002


AIMS AND OBJECTIVES OF  STUDY
The aim of this project is to enable the student have a practical field exposure to the analysis and presentation involved in an  actual corporate environment, and various government  organizations.
However, the objectives of the study include among others the following:
a.       The depth of the market
b.      The role of the Nigeria stock  exchange

c.      The number of companies and sock broking firms  that  operates(s)  on the Nigerian  stock exchange
d.      The number of deals stuck daily  and consequently on annual basis  on  annual basis on the  floor  of the Nigerian stock exchanges
e.      Nigeria   stock exchange as compared  to  those outside  the country in terms of its performance(s) 

SCOPE OF  THE STUDY
The scope of the study is to determine the depth of the capital market as it affects Nigerian economy development for the period of 1993-2002
In addition to examine the effect of stock  broking  firms and  other companies that contribute  to the Nigeria economy by comparing Nigeria  stock  exchange outside the  country in terms of performance 

STATEMENT OF  THE PROBLEM
The  fact about the capital market still  remains   that  it enable institutions in the economy that are in need of medium  to long term funds for the acquisition of fixed  assets and other long  term projects to obtain such fund . Also, capital market provides a mechanism through which long term loan and investments can be liquidated.  But, how  the  above  affect and generate growth in the developing  and deregulated   economy  like  Nigeria pose a lot of  question which  include the following:
a.      What is the depth of the Nigerian capital market?
b.      What is the role of the Nigerian capital market as its affect economic development in Nigeria?  
c.      How can the Nigerian capital market   be made to be more efficient and effective?
d.      What are the problems of the Nigerian capital   market?
e.      Compare Nigeria  capital market   vis-à-vis other  market outside the country in terms of its performance 

SIGNIFICANCE OF THE STUDY
The  study will help  in suggesting ways the Nigerian  capital market can equip itself to face l the challenges of the future thereby  taking its  rightful   position  as  a major  wheel  in  the  Nigerian  economic  prosperity  and   stability
The study could be great significance to the accountancy   students, capital market operations, non-banks, banks, public, state and  federal government respectively. 

RESEARCH  HYPOTHESIS 
The research hypothesis adopted in  this study is regression analysis among others, which is in line with the  economics theory that postulated  that gross domestic product (GDP),  is a positive function of the value of transaction in the capital market  hence, we have:   
Ho (null Hypothesis): The Value of Transaction (VOT) has an impact on the Gross Domestic Product  (GDP)
In addition, efforts were made to examine the effect   of value of money supply as it affect the list l of quoted companies
This implies Ho (null Hypothesis):  the value of  money supply does not have any  impact in the list  of quoted companies
HI (Alternative hypothesis): The value of  money supply has an impact in the list of  quoted companies. 

METHODOLOGY OF THE  STUDY
The researcher generated date for the study form secondary sources. These are data taken   from administrative sources such as journals, magazines,   official documents and so on.
It is important to our reader that secondary sources are known as indirect sources of data   collection quick information, save time and less expensive unlike   personal interview. But, the information is less accurate, less detailed and contain less information.
  Despite these short comings, efforts were made for the information in this project to be more  accurate by posing probing and further question to the officer(s)  in charge of the information  during collection respectively
  In  the light of the above, this project  makes use of secondary  data which was  compiled  from the  records, journal published  by bank   and other  institution like Nigerian Stock Exchange (NSE), Central Bank  of Nigeria  (CBN),  federal office of statistic(FOS)  and Annals of Banks

DEFINITION OF TERMS
   In order to put the message across all my readers, some terms and concept use has to be defined. Stock market price: this price represents the consensus view of stock brokers through bidding and  offer
Capital market: It is the complex of institutions and mechanisms through which intermediate term, grade and  long term funds are pooled and  instruments already outstanding are   transferred. (Dargall and Gaumnitz (1975) 

C.B.N:            Central Bank of Nigeria
C.I.C:             Capital Issue Commission
S.S.M:            The Second  -Tier  Securities Market
N.S.E :           The Nigeria  stock exchange
N.S.E.C:         Nigerian Securities and Exchange Commission 
F.E.M:            Foreign Exchange Market
E.C.S :            Electronic Contributor System
GDP:              Gross Domestic Product
IFC’S:            International Finance Corporation
SMES:           Nigeria Small and Medium  Scale  Enterprise   

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