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-Ã -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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