Effect of Financial Liberalization on the Performance of Informal Capital Market

This study examines the effects of financial liberalization on the corporate performance of informal capital market in Nigeria {Unity (IFE) NUT Cooperative Investment and Credit Society as a case study}. It employs the Ordinary Least Square method of multiple regression analysis for the period of ten years (2001-2010). Three models were formulated, the first, proxied financial liberalization variable (saving rate) with loan granted by informal capital market in Nigeria and saving mobilized by the market. The second, revealing a relationship between financial liberalization variable (lending rate) with deposit mobilised by informal capital market in Nigeria and loan granted by the market while the last, depicting relationship between financial liberalization variables (saving and lending rates), deposit mobilised with loan granted by informal capital market in Nigeria and net surplus of the market (being non-profit making institutions). This work concluded that financial liberalization has significant effect on deposit mobilised and loan granted by the market but did not have significant effect on their net surplus. It therefore, recommends that the market should be supervised, formulate policies that would enhance the performance of informal financial sector in Nigeria coupled with the reduction of the gap between lending and saving rates of banks. Keywords: Financial Liberalization, Informal Capital Market, Unity (IFE) NUT Cooperative Investment and Credit Society, Ordinary Least Square (OLS) Metho

Harmony-Disharmony Scale: Development and Initial Factorial Validation

The Harmony Restoration Theory (HRTheory) propounded by Ebigbo (1995, 2001a) is an African psychodiagnostic theory of health. It is a theory of harmony-disharmony, psychopathology, psychotherapy and a useful attempt to account for the aetiology of psychopathology in the African. Central to the theory is the notion that psychopathology arises from the disharmony in the cosmos of an individual. The objective of this study was to develop and validate a measuring scale, harmonydisharmony scale (HD Scale), for determining the areas of the cosmos which an individual needs harmony restoration before the initiation of harmony restoration therapy. Method - Based on the harmony restoration theory of health and Harmony restoration therapy, 120 items with 40 items per subscale were generated focusing on the three aspects of an individual‟s cosmos viz: endocosmos, mesocosmos and exocosmos needing harmony restoration. The outcome, a 120 likert-type scale, was administered to a cross-section of University undergraduates. The 258 responses obtained from the respondents (124 males and 128 females) aged 16 to 29 years (21.02 ± 4.083, mean ± s.d.) were subjected to factor analysis. Results - The data was examined to assess the suitability for factor analysis and was found suitable with good R-matrix, Bartlett‟s test of Sphericity and Kaiser-Meyer-Olkin (KMO) sample sufficiency. A 3-factor model emerged from the result of the factor analysis with 59 pure and valid items loading on factor 1, 23 items loading on factor 2 and 16 items loading on factor 3. The factors retained their original theoretical names viz: endocosmos, mesocosmos and exocosmos. Conclusion - The finding of this study is consistent with the harmony restoration theory on the African personality consisting of three components. Suggestions on ways to advance this area of research were made and a short version of the harmonydisharmony scale was proposed

REVALIDATION OF SOME MEASURES OF PSYCHOLOGICAL WELLBEING USING A CROSS-SECTION OF NIGERIAN ADULTS

This study was conducted to establish initial validity and reliability of some measures of psychological wellbeing for use in Nigeria. Two hundred and five adult Nigerians were randomly selected from a community in Ota, Ogun State using a multi stage sampling method which culminated in odd and even number method of simple random sampling for participants’ selection. The participants were aged between 17 and 80 years ( X =29.22, SD=11.93). A battery of the short forms of six psychological wellbeing instruments in a paper was administers, viz: Personal Growth Initiative Scale (PGIS), Gratitude Questionnaire – 6 (GQ-6), Meaning in Life Questionnaire (MILQ), Satisfaction With Life Scale (SWLS), Life Orientation Test-Revised (LOT-R), and Worry Domain Questionnaire Short Form (WDQ-SF). A Principal Component Analysis (PCA) was conducted with adequate measures of Kaiser-Meyer-Okin and Bartlett’s Test of Sphericity for each of the instrument and results showed factorial validity of each instrument based on its factor loadings and consistent with literature. A correlation coefficient revealed the Cronbach alpha to be as follows for the instruments: PGIS = .840; GQ- 6 = .316; MILQ = .825; SWLS = .718; LOT-R = .391; WDQ =.815. Each instrument showed initial validity for possible - use in Nigeria

CORRELATES BETWEEN PARENTING STYLES AND THE EMOTIONAL INTELLIGENCE: A STUDY OF SENIOR SECONDARY SCHOOL STUDENTS IN LAGOS STATE

Background: Emotional intelligence is a relatively recent behavioural model, rising to prominence with the work of Daniel Goleman. The study of parent-child relations has grown tremendously in recent years coupled with its implication on the emotional intelligence of students. This study examined the influence of parenting styles on emotional intelligence of senior school students in Lagos State, the commercial capital of Nigeria and a metropolitan city. Methods: Two hundred and fifty (250) students were randomly selected from five selected schools with age ranging from 15 to 19 years (mean age = 17 years) through stratified and systematic sampling techniques. The study being a survey research, made use of a questionnaire consisting of two validated subscales; the Trait Emotional Intelligence Questionnaire (TEIQue) and the Parenting Style Inventory (PSI). Three hypotheses were raised and tested. Hypotheses one and three were analyzed using Pearson’s product moment correlation while regression analysis was employed to analyze hypothesis two. Result: In testing the relationship between parenting styles and emotional intelligence, result shows that father’s authoritative parenting style (r = 0.152, p < .005) and mother’s authoritative parenting style (r = 0.227, p < .01) contributed to the prediction of emotional intelligence. Regression analysis shows that of the six predictor variables, only mother’s authoritative parenting style (β = 1.952, t = 2.345, p<.05) could significantly predict the emotional intelligence of senior school students. Conclusion: Being emotionally intelligent adds value to life. Emotions are important to our everyday lives; hence, young people should be assisted on how to control their emotions. Parents, teachers and significant others need to provide guidance for the development emotional intelligence of these young impressionable students

CORRELATES BETWEEN PARENTING STYLES AND THE EMOTIONAL INTELLIGENCE: A STUDY OF SENIOR SECONDARY SCHOOL STUDENTS IN LAGOS STATE

Background: Emotional intelligence is a relatively recent behavioural model, rising to prominence with the work of Daniel Goleman. The study of parent-child relations has grown tremendously in recent years coupled with its implication on the emotional intelligence of students. This study examined the influence of parenting styles on emotional intelligence of senior school students in Lagos State, the commercial capital of Nigeria and a metropolitan city. Methods: Two hundred and fifty (250) students were randomly selected from five selected schools with age ranging from 15 to 19 years (mean age = 17 years) through stratified and systematic sampling techniques. The study being a survey research, made use of a questionnaire consisting of two validated subscales; the Trait Emotional Intelligence Questionnaire (TEIQue) and the Parenting Style Inventory (PSI). Three hypotheses were raised and tested. Hypotheses one and three were analyzed using Pearson’s product moment correlation while regression analysis was employed to analyze hypothesis two. Result: In testing the relationship between parenting styles and emotional intelligence, result shows that father’s authoritative parenting style (r = 0.152, p < .005) and mother’s authoritative parenting style (r = 0.227, p < .01) contributed to the prediction of emotional intelligence. Regression analysis shows that of the six predictor variables, only mother’s authoritative parenting style (β = 1.952, t = 2.345, p<.05) could significantly predict the emotional intelligence of senior school students. Conclusion: Being emotionally intelligent adds value to life. Emotions are important to our everyday lives; hence, young people should be assisted on how to control their emotions. Parents, teachers and significant others need to provide guidance for the development emotional intelligence of these young impressionable students

Women’s mass media exposure and maternal health awareness in Ota, Nigeria

Maternal health has been an issue of priority to nations across the globe for years now. This study sought to: identify the sources of maternal health awareness; examine means of obtaining maternal health information; determine the frequency of mass media exposure; and analyse the influence of mass media exposure on maternal health awareness among the female residents. The Agendasetting theory and the descriptive (survey) research design, using the questionnaire as the research instrument, were utilized in this study. For this study, the purposive and haphazard sampling techniques were used. The internet (49%) was the topmost source of maternal health awareness; adverts/campaigns (30.6%) were the most common means of obtaining maternal health information; once in a month [27.6%] was the exposure frequency of most participants to the mass media while the least exposure frequency was once in two weeks [5.1%]. It was discovered that mass media exposure had a significant influence on maternal health awareness

Information Asymmetry, Financialisation and Financial Access

This study investigates whether information sharing channels that are meant to reduce information asymmetry have led to an increase in financial access. The study employs a Generalised Method of Moments technique using data from 53 African countries during the period from 2004-2011 to examine this linkage. Information sharing channels are theoretically designed to promote the formal financial sector and discourage the informal financial sector. The study uses two information sharing channels: private credit bureaus and public credit registries. The study found that both information sharing channels have a positive and significant impact on financial access. The study also found that public credit registries complement the formal financial sector to promote financial access. The policy implications are discussed