Equity Valuation Process And Price-Volume Relationship On Emerging Stock Markets

This paper examines the stock price?volume relationship in emerging markets throughout the world. Using a vector auto-regression analysis on monthly index data, contrary to evidence reported by Saatcioglu and Starks (1998), we find strong evidence on stock price changes leading trading volume. This finding confirms the evidence reported by studies on many developed markets and the ones recently reported by Moosa et al. (2003) and Chen et al. (2004) on  Commodity futures market.  However, the lack of strong evidence on the well-documented positive absolute price-volume relation may imply that differences in institutions and information flows in emerging markets are important enough to affect the valuation process of equity securities

Teacher Education: A Panacea for National Development in Nigeria

The teacher is an indispensable tool for national development. It is in realization of this fact that teacher education occupies a position of prominence in the educational enterprise. In the light of the above, this paper discusses the concept of teacher education and national development. Also, a number of challenges confronting teacher education are examined. The paper concludes by drawing the importance of teacher education for the development of a nation and relevant recommendations were proffered to reposition teacher education and the teaching profession.Key Words: Teacher, Education, Profession, Teacher Education and National Developmen

The influence of family factors on delinquent adolescents in secondary schools in Edo South Senatorial District of Edo State

This study was carried out with the aim of finding out the influence of family factors on delinquent adolescents in secondary schools in Edo South Senatorial District of Edo State. This study ascertained the extents to which family factors such as parent child rearing style, family type and parent socio economic background could encourage and influence delinquent activities. A total of two hundred (200) adolescents were used as sample for the study. This sample size was drawn from ten (10) secondary schools through stratified random sampling. Three research questions were raised and three hypotheses were formulated and tested at 0.5 level of significant. A questionnaire was designed by the researcher and was validated by three experts in the field of measurement and evaluation. The point bi serial statistic was used to analysis data gathered from the field. The major findings revealed that family factors such as parent child rearing style, family type and socio-economic status (the variable of the study) do not significantly account for delinquent behaviour among secondary school students in Edo South Senatorial District. Other factors such as assault from mass media, cultural and ethnic beliefs could be responsible for delinquent acts. It was recommended that federal, state and local government should embark on intensive and massive campaign against unwholesome programmes in our media. Parents should be assisted by guidance counsellors to stress the need for adequate value orientation in their children.Keywords: Family, Adolescent, Delinquenc

An Assessment of the Wear Element Contamination of Food Processed by Wet Milling Using Atomic Absorption Spectroscopy Technique

This paper ‘Assessment of Wear Elements in Food Products by Wet Milling Using Atomic Absorption Spectroscopy Technique’ was carried out to determine the levels of Wear Elements introduced into food consumed by humans after being wet milled. Samples were collected from a selected milling house in Yelwa area in Bauchi State Nigeria and were analyzed. The presence of heavy metals such as Cadmium (Cd) and Lead (Pb) as well as trace elements; Copper (Cu) and Zinc (Zn) contents in milled beans, tomatoes, sweet pepper and onions were determined using Atomic Absorption Spectrometry. The wear elements detected ranged from 0.008 to 0.017 mgkg?1 of Pb and 12.42 to 17.63 mgkg?1 of Fe and Cd went undetected being lower than the detection limits of 0.003 mgkg1.. However, the trace elements ranged from 6.75 to 11.84 mgkg?1 of Cu and 9.35 to 81.25mgkg?1 of Zn. The highest values of Pb, Cu, Zn and Fe in the milled products were observed in Onion paste (0.017mgkg?1), Tomato slurry (11.84mgkg?1), Beans paste (81.25 mgkg?1) respectively. The level of Fe and Zn in most of the samples was found to be above the permissible level of 15 mgkg?1 and 60 mgkg?1 respectively as set by WHO (2003). Other wear elements were found to be within the safe levels. Keywords: Wear Element, Atomic Absorption Spectroscopy, and Wet Milling

The Dilemmas of Adopting Performance Related Pay as a Reward Strategy for Academic Staff in Nigerian Public Higher Institutions of Learning

In today organizations, many employers of labour in private driven and public driven organizations seems to be attracted to performance related pay (PRP) as a means of reward and compensation. Even though PRP strategy is claimed to have distinct advantages over automatic pay increase (formal and transparent reward systems linked to tenure and promotion), they are still not without problems. Among these problems envisage in Nigerian higher institutions of learning are the issue of acceptability of performance related pay as a means of reward and compensation, and low level of motivation and performance. These aforementioned problems were raised in the study research questions and also answered. This was achieved by assessing the extent to which academic staff through administered questionnaire in Nigerian higher institutions of learning believe that the introduction of performance related pay will indeed bring about the claimed motivational and performance enhancement benefits

Import as a Function of Income in Nigeria from 1970-2016

This research work aims at investigating import as a function of income in Nigerian economy between 1980 and 2014. The econometric techniques used for this thesis are Unit Root Tests, Cointegration, Vector Error Correction, and Granger Causality Methods. These techniques were consistent with seven of the previous studies in the literature review, and the other seven previous studies used other econometric techniques in their papers. Annual time series data was taken from the World Bank Database. The regression model was in logarithms transformation form purposely to linearize the model, to reduce the impact of outliers and thus to avoid spurious regression result. The theoretical expectation is that there is a positive relationship between the IMPORTS and GNI in Nigeria that is the higher is the GNI, the higher will be the consumption and thus the import. One Other variable was introduced to independent variable and the other variable is Real Exchange Rate (REXRt).  LN(IMPORTSt), LN(GNIt) and LN(REXRt) have Unit Roots problem at level but were stationary at first difference statistics. Furthermore, Trace and Max. Eigen Value Test indicates one cointegrating equations at 5% significance level. This thesis shows that there is a long-run relationship between the Imports and the Income in Nigeria between 1980 and 2014. The long-run shows positive relationship while the short-run shows no significant relationship. Keywords: Stationary, Cointegration, VECM, Granger Causality, Import, Incom

Investment Strategies, Performance, And Trading Information Impact

This paper examines a set of investment strategies based on past market information to evaluate performance and trading impact on the Canadian Market. In doing so, we assess whether trading information adds value to the effectiveness of these strategies. Utilizing variant models of four different methodologies, we find strong evidence that supported the Momentum Investment Strategy, which buys past winner stocks and sells past loser stocks. Our evidence did not support Contrarian Investment Strategy, which posits that investors overreact to good and bad news. Our winners’ portfolios outperform our losers’ portfolios.  The Negative Volume Effect Strategy did not work, which is contrary to the Foerster, Prihar and Schmitz (1995) study. We found that winners’ stocks did not reverse in cases of heavy volume; nor did loser stocks reverse in a high volume context. However, we did find that trading information has an impact on stock returns and thus adds value to investment strategies for the 1990 to 2000 investment period.  Investors who combine past price and trading volume information in constructing their investment strategies would achieve higher returns than investors who base their portfolio construction decisions solely on stock prices.University

Politics of security sector reform : violence and the emergence of regional security outfits in Nigeria

A growing deterioration of the security situation in Nigeria is provoking debate about the subsisting federalized but ineffective policing structure. The general deterioration of security is also manifesting in the growth of regional outfits that have emerged to fill the security gap created by a weak and centralized security arrangement. While there is a plethora of literature discussing security governance in Nigeria—with an emphasis on reforms—emergent regional security outfits receive marginal attention. Relying on oral interviews with security experts, including personnel of Amotekun and Ebube Agu, datasets from Nigeria Watch, and relevant secondary sources, this article interrogates the interplay of insecurity, the imperative of security sector reforms (SSR), and suspicion generated by the emergence of vigilante and regional security outfits. The study concludes that Nigeria’s over-centralized security framework has created a vacuum in security provisioning, necessitating the emergence of alternative security outfits. The polemics surrounding the emergence of parallel security organizations underscores the need for SSR. It is nudging the country towards devolution of security functions to the subnational governments.http://asq.africa.ufl.eduam2024Future AfricaNon

Individual Competencies for Corporate Social Responsibility: A Literature and Practice Perspective

Because corporate social responsibility (CSR) can be beneficial to both companies and its stakeholders, interest in factors that support CSR performance has grown in recent years. A thorough integration of CSR in core business processes is particularly important for achieving effective long-term CSR practices. Here, we explored the individual CSR-related competencies that support CSR implementation in a corporate context. First, a systematic literature review was performed in which relevant scientific articles were identified and analyzed. Next, 28 CSR directors and managers were interviewed. The literature review complemented with interview data resulted in the following eight distinct CSR-related competencies: (1) Anticipating CSR challenges; (2) Understanding CSR-relevant systems and subsystems; (3) Understanding CSR-relevant standards; (4) CSR management competencies, including (4a) Leading CSR programs, (4b) Managing CSR programs, and (4c) Identifying and realizing CSR-related business opportunities; (5) Realizing CSR-supportive interpersonal processes; (6) Employing CSR-supportive personal characteristics and attitudes; (7) Personal value-driven competencies, including (7a) Ethical normative competencies, (7b) Balancing personal ethical values and business objectives, and (7c) Realizing self-regulated CSR-related behaviors and active involvement; and (8) Reflecting on personal CSR views and experiences. Based on these results, implications for further research on this topic, as well as implications for practitioners, are discussed