Inflation, Interest Rate, Real Gross Domestic Product and Stock Prices on the Nigerian Stock Exchange: A Post SAP Impact Analysis

This study investigated the impact of Inflation, Interest rate and Real Gross Domestic Product on stock prices of quoted companies on the Nigerian Stock Exchange (NSE) post SAP. Times series data was used covering the period 1985-2012. The stationary properties of the data were tested using Augmented Dickey-Fuller (ADF) and Phillips Perron (PP) unit root tests. They were all integrated at order I (1). The Johansen Multivariate Cointegration test indicates the existence of long-run equilibrium relationship among the variables in the model. There are no causal relationships between the variables based on the Granger Causality test result. Our equation estimation result indicates a good fit for the model. 96.8% of variations in the dependent variable were as a result of changes in the independent variables. The Durbin-Watson of 1.867475 is a little below the benchmark of 2 but we don’t have to worry about serial correlation problem. Two other diagnostic tests the Breusch-Pagan-Godfrey test for heteroscedasticity and Ramsey RESET test for stability and both indicate we don’t have to worry about those problems. Specifically, the findings suggest that inflation was the most important variable influencing stock prices in Nigeria. Therefore, it is the opinion of this paper that stronger measures be adopted to effectively combat the problem of inflation in Nigeria. Key Words: Heteroscedasticity, Stability, interest rate, Cointegration, Causality, Inflatio

Dark Matter and Pseudo-flat Directions in Weakly Coupled SUSY Breaking Sectors

We consider candidates for dark matter in models of gauge mediated supersymmetry breaking, in which the supersymmetry breaking sector is weakly coupled and calculable. Such models typically contain classically flat directions, that receive one-loop masses of a few TeV. These pseudo-flat directions provide a new mechanism to account for the cold dark matter relic abundance. We discuss also the possibility of heavy gravitino dark matter in such models.Comment: 16 pages, 2 figures. v2: comments, refs adde

Perceived Impact of Industrial Actions on the Academic Performance of Students in Tertiary Institutions in Delta State Nigeria

The study investigated the perceived impact of industrial actions on the academic performance of students in tertiary institutions in Delta State, Nigeria. Three research questions were raised and answered in the study. Two null hypotheses were formulated and tested at a .05 level of significance. A descriptive survey research design was used in the study. Two hundred seventeen students of tertiary institutions in Delta State comprised the sample of the study. A structured questionnaire titled ‘Impact of Industrial Action on Students’ Academic Performance Questionnaire’ (IIASAPQ)’ was used for data collection. Mean and standard deviation, as well as t-test statistics, were used to answer the research questions. The formulated null hypotheses were tested at a .05 level of significance using t-test statistics. The findings revealed that instability in the policies of the government both at the central and state levels, poor welfare and remuneration package of the staff of the various unions, among others, are causes of industrial actions of unions of Nigeria tertiary institutions, and the difference in the mean ratings on the causes of industrial actions of unions of Nigeria tertiary institutions is not significant based on gender. Additionally, lack of interest in school among students, which leads to poor academic performance, reduced and low grades, and poor study habits among students to a great extent are the impact of industrial actions of various unions on the academic performance of students in Nigeria tertiary institutions, and, the difference in the mean ratings on the extent industrial actions impacts academic performance of students in Nigeria tertiary institutions is not significant based on gender. Based on the findings, the study recommended, among others, that the federal government should ensure that there is a smooth and regular dialogue with various unions of tertiary institutions so as to avoid incessant industrial actions. The unions of various tertiary institutions should understand the impact of their industrial action on the academic performance of the students, therefore, seek alternative means of dispute and conflict resolution with the federal government instead of resorting to industrial actions

Analyses of Use of Improved Beekeeping Equipment among Agricultural Development Programme Registered Bee Farmers in Imo State, Nigeria

The study examined improved beekeeping in Imo State, Nigeria. A sample of 30 registered bee farmers participated in the study. Data were elicited from the farmers using structured questionnaire and analysed using percentages and means. Results showed that the major sources of information on modern bee keeping equipment were farmers’ association (96%), extension agents (76%) and friends/relatives (70%). Available bee products in the area were honey (97%), bee wax (83%), bee venom (70%) and propolis (63%). Improved beekeeping equipment used in the area were foot wears (100%), gloves (100%), smokers (93%), bee veil (96%) and bee suits (87%). Constraints to improved beekeeping in the area include; lack of favourable agricultural policies (87%), lack of standard market for the products (77%), inadequate training and information on beekeeping (67%) and high cost of equipment (70%). The study therefore recommends the need for efforts aimed at promoting modern bee farming in the area, especially targeted at younger and educated farmers

Quality of the paratransit service (tricycle) and its operation in Aba, Nigeria: An analysis of customers' opinions

This study examines the quality of the paratransit service and its operations in Aba, Abia State, Nigeria, with a view to identifying its challenges and contributions to informal transport and equitable service distribution to the residents of Aba. Structured questionnaires and past literature were used as sources of data. The primary data included road networks, number of trips per day by operators, operating speed, and purpose of travel, passengers' security, tricycle speed, and waiting time. The study was conducted by using two questionnaires: one for the operators and the other for tricycle users. The total number of completed questionnaires for the survey was 100 for operators and 229 for users. The sampling technique used was random sampling from several zones of the study area. Data were analysed using percentage and Chi-square statistical techniques for testing the hypotheses with the Minitab 11.0 version package. The study found that 92% of operators reported a high level of road network deterioration, and 61% reported making 9-12 trips per day. The hypothesis test was used to study people's feelings about the attributes of the service provided for paratransit users, such as affordability, regularity, comfort and safety. It was found that there is no significant difference at the 5% level between the various categories of these respondents

Cosmic Ray Spectra in Nambu-Goldstone Dark Matter Models

We discuss the cosmic ray spectra in annihilating/decaying Nambu-Goldstone dark matter models. The recent observed positron/electron excesses at PAMELA and Fermi experiments are well fitted by the dark matter with a mass of 3TeV for the annihilating model, while with a mass of 6 TeV for the decaying model. We also show that the Nambu-Goldstone dark matter models predict a distinctive gamma-ray spectrum in a certain parameter space.Comment: 16 pages, 4 figure

Patterns of Soft Masses from General Semi-Direct Gauge Mediation

We give a general formulation of semi-direct gauge mediation of supersymmetry breaking where the messengers interact with the hidden sector only through a weakly gauged group. Using this general formulation, we provide an explicit proof that the MSSM gaugino masses are vanishing to leading order in the gauge couplings. On the other hand, the MSSM sfermion masses have, generically, a non-vanishing leading contribution. We discuss how such a mechanism can successfully be combined with other mediation schemes which give tachyonic sfermions, such as sequestered anomaly mediation and some direct gauge mediation models.Comment: 26 pages, 5 figures; v2: refs added; v3: minor corrections, clarifications added, mainly in section

(Extra)Ordinary Gauge/Anomaly Mediation

We study anomaly mediation models with gauge mediation effects from messengers which have a general renormalizable mass matrix with a supersymmetry-breaking spurion. Our models lead to a rich structure of supersymmetry breaking terms in the visible sector. We derive sum rules among the soft scalar masses for each generation. Our sum rules for the first and second generations are the same as those in general gauge mediation, but the sum rule for the third generation is different because of the top Yukawa coupling. We find the parameter space where the tachyonic slepton problem is solved. We also explore the case in which gauge mediation causes the anomalously small gaugino masses. Since anomaly mediation effects on the gaugino masses exist, we can obtain viable mass spectrum of the visible sector fields.Comment: 24 pages, 10 figure

Gluino Decay as a Probe of High Scale Supersymmetry Breaking

A supersymmetric standard model with heavier scalar supersymmetric particles has many attractive features. If the scalar mass scale is O(10 - 10^4) TeV, the standard model like Higgs boson with mass around 125 GeV, which is strongly favored by the LHC experiment, can be realized. However, in this scenario the scalar particles are too heavy to be produced at the LHC. In addition, if the scalar mass is much less than O(10^4) TeV, the lifetime of the gluino is too short to be measured. Therefore, it is hard to probe the scalar particles at a collider. However, a detailed study of the gluino decay reveals that two body decay of the gluino carries important information on the scalar scale. In this paper, we propose a test of this scenario by measuring the decay pattern of the gluino at the LHC.Comment: 29 pages, 9 figures; version published in JHE

Realization of Minimal Supergravity

Minimal supergravity mediation of supersymmetry breaking has attracted much attention due to its simplicity, which leads to its predictive power. We consider how Nature possibly realizes minimal supergravity through inflationary selection of the theory. Minimality is impressively consistent with the present observational bounds and it might be tested with the aid of low-energy soft parameters obtained in future experiments.Comment: 18 pages, 5 figure