Quality of Governance and Stock Market Performance: the Nigerian experience

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dc.contributor.authorAjide, K. B.
dc.date.accessioned2018-03-26T10:16:10Z
dc.date.available2018-03-26T10:16:10Z
dc.date.issued2014-09
dc.description.abstractThe paper examines the impact of governance on stock market performance using quarterly data series spanning 1996Q1 to 2010Q4. An ARDL bound testing methodology was employed to explore such causal relationship. Long-run stable relationships were established through the error correction terms of each of the measures used to the tune of -0.4821,-0.4034 and -0.4080 for all share price index, market capitalisation and the value of total stock traded, respectively. Findings indicate that macroeconomic and financial stability should be constantly maintained and promoted as it constitutes a drag on the stock performance; any acts of corruption should be eschewed as it scares away potential investors into the country and the quality of public services, the quality of the civil service and the degree of its independence from political pressures, the quality of policy formulation and implementation, and the credibility of the government's commitment to such policies should be enhanced altogether.en_US
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dc.description.provenanceApproved for entry into archive by Ifeanyichukwu Ohaju (ifohaju@gmail.com) on 2018-03-26T10:05:42Z (GMT) No. of bitstreams: 1 Pages from CBN EFR Vol 52 No 3 September 2014-3 Ajide, K. B..pdf: 2438188 bytes, checksum: b93742bdb62d6e2d28b463a588785512 (MD5)en
dc.description.provenanceApproved for entry into archive by Ifeanyichukwu Ohaju (ifohaju@gmail.com) on 2018-03-26T10:15:51Z (GMT) No. of bitstreams: 1 Pages from CBN EFR Vol 52 No 3 September 2014-3 Ajide, K. B..pdf: 2438188 bytes, checksum: b93742bdb62d6e2d28b463a588785512 (MD5)en
dc.description.provenanceMade available in DSpace on 2018-03-26T10:16:10Z (GMT). No. of bitstreams: 1 Pages from CBN EFR Vol 52 No 3 September 2014-3 Ajide, K. B..pdf: 2438188 bytes, checksum: b93742bdb62d6e2d28b463a588785512 (MD5) Previous issue date: 2014-09en
dc.description.sponsorshipCentral Bank of Nigeriaen_US
dc.identifier.citationAjide, K. B. (2014). Quality of Governance and Stock Market Performance: the Nigerian experience. Economic and Financial Review, 52(3), 27-47.en_US
dc.identifier.issn1957-2968
dc.identifier.urihttp://repo.cbn.gov.ng/jspui/handle/123456789/145
dc.language.isoenen_US
dc.publisherResearch Department, Central Bank of Nigeriaen_US
dc.relation.ispartofseriesEconomic and Financial Review;Vol..52, No. 3
dc.subjectStock Marketen_US
dc.subjectNigeriaen_US
dc.titleQuality of Governance and Stock Market Performance: the Nigerian experienceen_US
dc.typeArticleen_US

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