El cáncer de mama es una de las enfermedades que causan una mayor mortalidad entre las mujeres. S... more El cáncer de mama es una de las enfermedades que causan una mayor mortalidad entre las mujeres. Se estima que, sólo en Europa, una mujer es diagnosticada de esta enfermedad cada 2 minutos y medio, y que una muere cada 7 minutos y medio. Para su cura es fundamental la deteccin temprana de los pequeños tumores. Si éstos son detectados a tiempo, los tratamientos que existen hoy en da son mucho más efectivos. En consecuencia, es de fundamental disponer de tecnologías especializadas que puedan llevar a cabo esta tarea con seguridad y, al ser posible, a un costo bajo. La técnica de referencia hoy en día sigue siendo la mamografa, una imagen de rayos X de la mama comprimida. Sin embargo, éstas siguen teniendo inconvenientes bien conocidos: no detectan un 15 % de los tumores malignos, al mismo tiempo que el resultado de los falsos positivos es muy elevado (sólo un 13 % de las manchas encontradas resultan finalmente ser un tumor maligno). Además, exponen a las pacientes a radiación potencial...
The modern competive world requires a lot of creativity, which warrants series of innovative acti... more The modern competive world requires a lot of creativity, which warrants series of innovative activities by regulators, investors and firms in order to survive. Investment through Global Depository Receipts (GDRs) is one of such financial innovation tools that could be deployed to attract investors and enable survival in the modern competitive world. GDRs and their underlying shares should serve as perfect substitutes, which could in turn eliminate arbitrage opportunities. Most studies in emerging markets are concentrated in India most of which provide evidence of international integration of the stock market. This study, therefore, seeks to examine the direction of causality between GDRs and underlying shares in the Nigeria Stock Market, determine whether there is price transmission between GDRs and the underlying shares, and examine whether there is market integration between the London Stock Exchange and the Nigerian Stock market. The GDRs and underlying shares data were analysed ...
FUDMA INTERNATIONAL JOURNAL OF SOCIAL SCIENCES, Aug 9, 2021
There is controversy in literature of earnings management/quality, on the appropriate measure of ... more There is controversy in literature of earnings management/quality, on the appropriate measure of earning management/quality. This paper applies the Yoon, Kim and Woodruff (2012) model to measure earnings quality used as proxy for financial reporting quality because of its merits over the commonly used modified Jones model. The 5 listed Agriculture firms in the Nigerian Stock Exchange for the period 2008- 2016 formed the population of the study, out of which 4 firms were sampled for the study. Data on financial reporting quality, the dependent variable of the study, and the explanatory variables were extracted from annual financial reports of the firms. Analysis of data was done using regression models and selected firm characteristics were regressed against financial reporting quality. The results reveal that financial reporting quality is positively and significantly influenced by solvency and gearing. Furthermore, both board size and board meetings exerted positive but insignificant effect on financial reporting quality. The study recommends that the boards of directors of listed agro allied firms in Nigeria must specifically highlight and effectively discuss issues around earnings management during board meetings. Shareholders are called to note the contribution of gearing and solvency to reporting reliable accounting numbers, and to enforce through the board, the maintenance of optimum and most favorable levels of each, in order to induce quality financial reporting.
Macro-economic determinants which are the drivers of government economic policies in Nigeria are ... more Macro-economic determinants which are the drivers of government economic policies in Nigeria are critical parameters in determining the success of an investment. Pension Administrators are institutional investors and their investment is sensitive to the trends of these macro-economic determinants which make decision-making difficult as new economic policies can change investments fortunes overnight! This study tests the impact of these macro-economic determinants on the performance of pension funds in Nigeria with the view of determining the consequences of their movements on the successful operation of Pension Funds Administrators. The study collected its data from secondary sources which include annual reports from National Pension Commission, Central Bank of Nigeria and Nigerian Stocks Exchange. Descriptive and inferential statistics form the basis of the data analysis and interpretation. The major findings of the study are that Treasury Bills Rates, General Inflation Rates and D...
International Journals of Marketing and Technology, 2012
The research constitutes an empirical study involving historical data sourced from the NSE, which... more The research constitutes an empirical study involving historical data sourced from the NSE, which examines the upward trend in the performance of the NSE with the introduction of the ATS in 1999. The Independent T- test was specifically applied to assess the performance before computerisation (introduction of ATS in 1999) and performance after computerisation. The study covers a period of 15 years (from 1992 to 2006). The Capital market performance tools considered for this test include Capitalisation, Turnover by volume of Shares and Turnover by Value of Shares. The Independent T-test revealed that the performance in all the three aspects has significantly impacted on Capitalisation, Turnover by Volume and Turnover by Value of the Nigerian Stock Exchange with the introduction of the Automated Trading System. The SPSS statistical software was used to conduct a pre, and post automation analysis using the key capital market indicators, namely, the market capitalisation, Turnover by Va...
Objective–This study examines the moderating effect of company age on the relationship between bo... more Objective–This study examines the moderating effect of company age on the relationship between board features on timely disclosure of audited financial statements. Specifically it tests the effects of board size, proportionate audit committee size, board independence on timely disclosure of the banks under study; and assess the influence of age as a moderator of board size, proportionate audit committee size, and board independence respectively as they affect timely disclosure of the listed deposit money banks in Nigeria. Design/methodology–The sample of 10 banks out of 15 listed deposit money banks in Nigeria were used. Secondary data was gathered from the sampled banks’ annual accounts and reports. Correlational research design was used to examine the relationship between the studied variables. Descriptive statistics, correlation, and hierarchical multiple regression analyses were eventually carried. Results –This study finds that board size and proportionate audit committee size ...
The study notes the upward trend in the performance of the NSE. The research relies on an empiric... more The study notes the upward trend in the performance of the NSE. The research relies on an empirical study involving historical d ata sourced from data from the NSE. The research notes the major period of the introduc tion of the Automated Trading System to be in 1999. The Mann-Whitney test was specifical ly applied to assess the performance before computerisation (introduction of ATS in 1999 ) and performance after computerisation. The capital market performance tools considered for this test include Capitalisation, Turnover by volume of shares and Tu rnover by Value of Shares. The Mann-Whitney test revealed that the performance in all the three aspects has significantly improved with computerisation. The research applies the Mann-Whitney Test through the use of Analyse-It, an Excel Add-In software in doin g a pre, and post automation analysis using the key capital market indicators, namely, th e market capitalisation, Turnover by Value, Turnover by Volume, and Capitalisation. Findi...
El cáncer de mama es una de las enfermedades que causan una mayor mortalidad entre las mujeres. S... more El cáncer de mama es una de las enfermedades que causan una mayor mortalidad entre las mujeres. Se estima que, sólo en Europa, una mujer es diagnosticada de esta enfermedad cada 2 minutos y medio, y que una muere cada 7 minutos y medio. Para su cura es fundamental la deteccin temprana de los pequeños tumores. Si éstos son detectados a tiempo, los tratamientos que existen hoy en da son mucho más efectivos. En consecuencia, es de fundamental disponer de tecnologías especializadas que puedan llevar a cabo esta tarea con seguridad y, al ser posible, a un costo bajo. La técnica de referencia hoy en día sigue siendo la mamografa, una imagen de rayos X de la mama comprimida. Sin embargo, éstas siguen teniendo inconvenientes bien conocidos: no detectan un 15 % de los tumores malignos, al mismo tiempo que el resultado de los falsos positivos es muy elevado (sólo un 13 % de las manchas encontradas resultan finalmente ser un tumor maligno). Además, exponen a las pacientes a radiación potencial...
The modern competive world requires a lot of creativity, which warrants series of innovative acti... more The modern competive world requires a lot of creativity, which warrants series of innovative activities by regulators, investors and firms in order to survive. Investment through Global Depository Receipts (GDRs) is one of such financial innovation tools that could be deployed to attract investors and enable survival in the modern competitive world. GDRs and their underlying shares should serve as perfect substitutes, which could in turn eliminate arbitrage opportunities. Most studies in emerging markets are concentrated in India most of which provide evidence of international integration of the stock market. This study, therefore, seeks to examine the direction of causality between GDRs and underlying shares in the Nigeria Stock Market, determine whether there is price transmission between GDRs and the underlying shares, and examine whether there is market integration between the London Stock Exchange and the Nigerian Stock market. The GDRs and underlying shares data were analysed ...
FUDMA INTERNATIONAL JOURNAL OF SOCIAL SCIENCES, Aug 9, 2021
There is controversy in literature of earnings management/quality, on the appropriate measure of ... more There is controversy in literature of earnings management/quality, on the appropriate measure of earning management/quality. This paper applies the Yoon, Kim and Woodruff (2012) model to measure earnings quality used as proxy for financial reporting quality because of its merits over the commonly used modified Jones model. The 5 listed Agriculture firms in the Nigerian Stock Exchange for the period 2008- 2016 formed the population of the study, out of which 4 firms were sampled for the study. Data on financial reporting quality, the dependent variable of the study, and the explanatory variables were extracted from annual financial reports of the firms. Analysis of data was done using regression models and selected firm characteristics were regressed against financial reporting quality. The results reveal that financial reporting quality is positively and significantly influenced by solvency and gearing. Furthermore, both board size and board meetings exerted positive but insignificant effect on financial reporting quality. The study recommends that the boards of directors of listed agro allied firms in Nigeria must specifically highlight and effectively discuss issues around earnings management during board meetings. Shareholders are called to note the contribution of gearing and solvency to reporting reliable accounting numbers, and to enforce through the board, the maintenance of optimum and most favorable levels of each, in order to induce quality financial reporting.
Macro-economic determinants which are the drivers of government economic policies in Nigeria are ... more Macro-economic determinants which are the drivers of government economic policies in Nigeria are critical parameters in determining the success of an investment. Pension Administrators are institutional investors and their investment is sensitive to the trends of these macro-economic determinants which make decision-making difficult as new economic policies can change investments fortunes overnight! This study tests the impact of these macro-economic determinants on the performance of pension funds in Nigeria with the view of determining the consequences of their movements on the successful operation of Pension Funds Administrators. The study collected its data from secondary sources which include annual reports from National Pension Commission, Central Bank of Nigeria and Nigerian Stocks Exchange. Descriptive and inferential statistics form the basis of the data analysis and interpretation. The major findings of the study are that Treasury Bills Rates, General Inflation Rates and D...
International Journals of Marketing and Technology, 2012
The research constitutes an empirical study involving historical data sourced from the NSE, which... more The research constitutes an empirical study involving historical data sourced from the NSE, which examines the upward trend in the performance of the NSE with the introduction of the ATS in 1999. The Independent T- test was specifically applied to assess the performance before computerisation (introduction of ATS in 1999) and performance after computerisation. The study covers a period of 15 years (from 1992 to 2006). The Capital market performance tools considered for this test include Capitalisation, Turnover by volume of Shares and Turnover by Value of Shares. The Independent T-test revealed that the performance in all the three aspects has significantly impacted on Capitalisation, Turnover by Volume and Turnover by Value of the Nigerian Stock Exchange with the introduction of the Automated Trading System. The SPSS statistical software was used to conduct a pre, and post automation analysis using the key capital market indicators, namely, the market capitalisation, Turnover by Va...
Objective–This study examines the moderating effect of company age on the relationship between bo... more Objective–This study examines the moderating effect of company age on the relationship between board features on timely disclosure of audited financial statements. Specifically it tests the effects of board size, proportionate audit committee size, board independence on timely disclosure of the banks under study; and assess the influence of age as a moderator of board size, proportionate audit committee size, and board independence respectively as they affect timely disclosure of the listed deposit money banks in Nigeria. Design/methodology–The sample of 10 banks out of 15 listed deposit money banks in Nigeria were used. Secondary data was gathered from the sampled banks’ annual accounts and reports. Correlational research design was used to examine the relationship between the studied variables. Descriptive statistics, correlation, and hierarchical multiple regression analyses were eventually carried. Results –This study finds that board size and proportionate audit committee size ...
The study notes the upward trend in the performance of the NSE. The research relies on an empiric... more The study notes the upward trend in the performance of the NSE. The research relies on an empirical study involving historical d ata sourced from data from the NSE. The research notes the major period of the introduc tion of the Automated Trading System to be in 1999. The Mann-Whitney test was specifical ly applied to assess the performance before computerisation (introduction of ATS in 1999 ) and performance after computerisation. The capital market performance tools considered for this test include Capitalisation, Turnover by volume of shares and Tu rnover by Value of Shares. The Mann-Whitney test revealed that the performance in all the three aspects has significantly improved with computerisation. The research applies the Mann-Whitney Test through the use of Analyse-It, an Excel Add-In software in doin g a pre, and post automation analysis using the key capital market indicators, namely, th e market capitalisation, Turnover by Value, Turnover by Volume, and Capitalisation. Findi...
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