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The Role Of The Nigerian Stock Exchange On Capital Formation (1980-2011)
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1.3 RESEARCH QUESTION
The study will examine the following questions,
1. How does the Nigerian Stock Exchange influence capital formation in Nigeria?
2. What factors influence capital formation in the Nigerian economy?
3. What is the role of Stock Exchange on capital formation in Nigeria
1.4 RESEARCH OBJECTIVES
This
study is primarily aimed at examining critically, the activities and
performance of the Nigerian Stock Exchange especially, the study aims
to;
1. To determine the impact of the Nigerian Stock Exchange on capital formation.
2. To evaluate the performance and growth of the Nigerian Stock Exchange.
3. To determine how the exchange could stimulate investment.
4. To quantify the relative importance of the Stock Exchange in determining the capital formation for national development.
1.5 RESEARCH HYPOTHESIS
The hypothesis that could be tested in this study is stated below:
(1) H0: The Nigerian Stock Exchange has no significant impact on capital formation.
(2) H1: The Nigerian Stock Exchange has significant impact on capital formation.
1.6 SIGNIFICANCE OF THE STUDY
The
significant of this research is to examine the usefulness of the
Nigerian Stock Exchange as a vehicle for capital market shows that
Nigerian Stock Exchange contributes positively to the national
development because it portrays the capabilities to raise funds from the
surplus to the deficit for investment purpose.
Therefore, the design
of an optimal capital structure, which ensures adequate and sustainable
growth for national development; this is the responsibility of the
Nigerian Stock Exchange. The beneficiaries of this research work are the
government, industries and individuals would benefit from the capital
market role on capital formation.
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ABSRACT - [ Total Page(s): 1 ]This study was carried out to determine the effect of stock market on capital formation in Nigeria. The variables included in the model were, Gross Fixed Capital Formation, value of share traded, interest rate, inflation rate, commercial bank investment indicator, and Stock Market Capital. Data were sourced from CBN statistical bulletin (2011). The study employed OLS technique to determine the effect of stock market on capital formation. The empirical finding shows that stock market capital, com ... Continue reading---
