Capital market development and economic growth in Nigeria

The paper examined the impact of capital market development on economic growth using time series data from Nigeria for the period 1981-2016. The co-integration and error correction model was employed for the empirical analysis and selected variables were found to be co-integrated. The empirical result revealed that capital market development has significant and positive impact on economic growth in Nigeria both in the short run and in the long run. Other significant variables in the empirical result were interest rate, money supply and investment level. The paper, thus, recommended that the government should inject much fund into the capital market and implement appropriate reform policies aimed at ensuring reliable, efficient and stable stock market in Nigeria.Keywords: Capital market development, Economic growth, Interest rate, Money supply and Capital formatio

Influence of Board Mechanisms on Corporate Social Responsibility Disclosures in Nigeria: A Study of Oil and Gas Sector of the Economy

The study examined the influence of board mechanisms on corporate social responsibility disclosure among oil and gas quoted companies in Nigeria for ten (10) years period (2012-2021). Board mechanisms variables of board independence, board size as well as board gender diversity were analyzed to determine their influence on corporate social responsibility disclosures. Data obtained from the financial statement of various sampled companies were suitably analyzed with the help of descriptive statistics, correlation as well as regression analysis by making use of E-view (9.0) econometric packages. Regression result reveals that board independence has significant and negative influence on corporate social responsibility disclosures while board size and board gender diversity have insignificant and negative influence on corporate social responsibility disclosures of various companies. The study therefore arrived at a conclusion that board independence on the board brings about improvement on corporate social responsibility disclosure among quoted oil and gas companies in Nigeria

BOARD CHARACTERISTICS AND FINANCIAL REPORTING TIMELINESS OF FIRMS IN NIGERIA

Several studies have examined issues relating to board characteristics and financial reporting timeliness in Nigeria, but none have conducted studies to examine board independence and board size in relation to financial reporting timeliness of non-financial distress likelihood zone firms in Nigeria. This study aims to examined board characteristics as well as financial reporting timeliness of firms in Nigeria. Different variables of board characteristics like board independence as well as board size were examined to determine how they are related to financial reporting ttimeliness. For the purpose of the study to be achieved, twenty-eight (28) distress likelihood zone firms from 2012 to 2021 as it relates to the non-financial firms that are listed on Nigerian Exchange Group (NXG) PLC as at 31st December, 2021 were carefully selected and studied. The panel least squares (PLS) regression was employed in the study and E-view 9.0 packages was used for the analysis of data. The regression analysis revealed a positive as well as a relationship that is significant between board independence and financial reporting timeliness while board size was found to be insignificant and negatively related with financial reporting timeliness of firms in Nigeria. Hence, it is recommended that the presence of independent board and their skills should not be neglected as it is in a better position to make sure financial statements are properly presented and reported for the shareholders to make good decision