Olusegun F E L I X Ayadi
Texas Southern University, Accounting and Finance, Faculty Member
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Purpose – The purpose of the paper is to identify the key determinants of stock market performance in Nigeria. More specifically, it is an attempt to determine the effect of gender diversity in leadership roles on the performance of the... more
Purpose – The purpose of the paper is to identify the key determinants of stock market performance in Nigeria. More specifically, it is an attempt to determine the effect of gender diversity in leadership roles on the performance of the stock market in Nigeria. Design/methodology/approach – The paper uses annual data from 1980 through 2011 to model the development and performance of the Nigerian stock market through a modified Calderon-Rossell approach. Specifically, the leadership role of women in the governance of the stock market is investigated. Robust regression approach is used to avoid complications associated with the violations of the assumptions underlying the application of ordinary least squares regression. Findings – The empirical analysis shows that level of income, real exchange rate, liquidity, banking sector development, institutional quality, macroeconomic stability and gender are important determinants of stock market performance in the Nigerian stock market. Further, the results indicate that at worst, gender diversity does not play into stock market performance in Nigeria, and at its best, the appointment of women in the management of the Nigerian Stock Exchange is associated with better performance. Originality/value – The paper contributes to the empirical literature on the role of gender diversity and financial performance. The contribution of this paper is the inclusion of gender as an institutional factor among the determinants of stock market performance in Nigeria.
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The Nigerian government initiated a variety of focused programs to achieve financial inclusion and financial literacy which have consequence on sustainable development. The 2030 Sustainable Development Goals Agenda touches on financial... more
The Nigerian government initiated a variety of focused programs to achieve financial inclusion and financial literacy which have consequence on sustainable development. The 2030 Sustainable Development Goals Agenda touches on financial inclusion within the financial system to lead to a sustainable economy. This paper sets out to evaluate the success or otherwise of the financial inclusion schemes. The study period begins in 2012 with the last major financial inclusion programme of the government. The approach involves a construction of an annual index of financial inclusion using expanded available indicators compared to previous studies. A two-stage principal component analysis is employed. The results reveal that overall financial inclusion position moved upwards but slowly compared to other developing countries. The constructed index is also positively correlated with Nigeria's human development index. The reasons for slow pace of financial inclusion may be related to several policy reversals of government and/or institutions within Nigeria.
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Southwestern Business Administration Journal 5 (1), Spring 2005, 36 ENHANCING TEACHING EFFECTIVENESS AND STUDENT PERFORMANCE IN FINANCE COURSES: EVALUATION OF RELEVANT FACTORS Amitava Chatterjee*, Texas Southern University, Houston, TX ...
PurposeThe study aims to examine the appropriateness of the coefficient of elasticity of trading (CET) as a measure of liquidity using Nigerian stock market data. Given that liquidity is multidimensional, the CET is complemented with the... more
PurposeThe study aims to examine the appropriateness of the coefficient of elasticity of trading (CET) as a measure of liquidity using Nigerian stock market data. Given that liquidity is multidimensional, the CET is complemented with the popular measure of liquidity, turnover ratio to explore the causal relationship among the CET, turnover ratio and market return to determine their relevance in security valuation. In other words, an attempt is made to examine if either of these two measures of liquidity is a relevant factor in explaining stock market return.Design/methodology/approachThe Toda-Yamamoto version of Granger causality test is applied to two sets of data on the Nigerian Stock Exchange (NSE). The available monthly time series data are from 2008 to 2019 while the annual data are from 1986 to 2018. The Toda-Yamamoto test is preferred because it is more robust to integration and cointegration of the variables.FindingsThe results of the Toda-Yamamoto version of the Granger cau...
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The approach in this paper is to explore the relationship between corruption perception index (CPI) and human development index (HDI) in order to determine whether or not poor countries resort to corrupt practices as a way of getting over... more
The approach in this paper is to explore the relationship between corruption perception index (CPI) and human development index (HDI) in order to determine whether or not poor countries resort to corrupt practices as a way of getting over their level of hopelessness. The results show that corruption poses a problem to all countries and consequently to world economic development.
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Most instructors believe that if students know the material that is taught, their knowledge will manifest by successful performance on any type of examination question that instructors devise. The issue that is now evolving is whether or... more
Most instructors believe that if students know the material that is taught, their knowledge will manifest by successful performance on any type of examination question that instructors devise. The issue that is now evolving is whether or not instructors can alter teaching and testing strategies to bring about an optimal learning environment. More particularly, this study represents an attempt to correlate students’ learning style preferences to performance on four types of examination questions. The results reported in this study shows that intuitive and thinking students do not perform well on open-ended quantitative test. Moreover, intuitive students are not very good when it comes to multiple-choice quantitative test. Finally, feeling, sensing, and thinking students perform better on multiple-choice theory tests.
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119 Journal of Economics and Economic Education Research, Volume 5, Number 3, 2004 GEOGRAPHICAL DIFFERENCES IN POVERTY AND QUALITY-OF-LIFE RATINGS O. Felix Ayadi, Texas Southern University Amitava Chatterjee, Texas Southern University... more
119 Journal of Economics and Economic Education Research, Volume 5, Number 3, 2004 GEOGRAPHICAL DIFFERENCES IN POVERTY AND QUALITY-OF-LIFE RATINGS O. Felix Ayadi, Texas Southern University Amitava Chatterjee, Texas Southern University Adegoke O. Ademiluyi, ...
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Research Interests: Black Studies Or African American Studies, Education, Diversity, Higher Education, Focus Groups, and 15 moreAfrican American Studies, Learning And Teaching In Higher Education, College student development, Historically Black Colleges and Universities, Behavioral Science, Affirmative Action, Black Studies, Interviews, African American, Black Males, HIV Prevention, Efficiency, Academe, HBCUs, and HBCU Leadership
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This study reexamines the controversial impact of changes in the growth rate of money supply on short-term nominal interest rates. Most of the early studies consistently find evidence that support a negative relationship between money... more
This study reexamines the controversial impact of changes in the growth rate of money supply on short-term nominal interest rates. Most of the early studies consistently find evidence that support a negative relationship between money shocks and interest rates. This relationship reflects the hypothesized liquidity effect. When the Fed accelerates the growth rate in money supply at given prices, output and inflation, the LM curve shifts, and real balances increase. Consequently, nominal an real interest rates are reduced. The results of the finite lag methods vary from one technique to another. However, the general trend points toward the vanishing liquidity effect. An infinite lag method which assumes a quadratic polynomial lag structure is also applied to data from 1972 through 1989. The results show a slight presence of the liquidity effect. The overall results also indicate that inflation rate as well as the variance of inflation rate slightly influence the relationship described...
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Life-expectancy at birth is an important indicator of well-being. Most of the nations with very high life expectancy rates are among the economically advanced nations of the world. This fact leads one to infer that mortality differences... more
Life-expectancy at birth is an important indicator of well-being. Most of the nations with very high life expectancy rates are among the economically advanced nations of the world. This fact leads one to infer that mortality differences exist partly due to economic status. The poverty of women and children remain a major developing challenge for all societies, especially the developing nations. Women in Sub-Saharan Africa play a very important role in food production, bearing and raising children, the prevention/treatment of childhood diseases and malnutrition. As such, the education of mothers and household income could help improve family health, and sanitation. The findings here do show that childhood mortality is significantly influenced by female education, household income, and the feeding practices of mothers.
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medicine, industrial, and all other applied and theoretical sciences. The journal welcomes submission
This study identified four performance measures often employed in corporate analysis and examined their relationship with the firm's expenditures in research and development over different periods. These measures reflect both the... more
This study identified four performance measures often employed in corporate analysis and examined their relationship with the firm's expenditures in research and development over different periods. These measures reflect both the profitability of the firm and the market value of ...