RESPONSE OF STOCK MARKET VOLATILITY TO FOREIGN EQUITY INVESTMENTS

This study evaluates the response of stock market volatility to foreign equity investments. Specifically, the study examines how foreign portfolio investment and foreign direct equity investment influence stock market volatility in Nigeria, using monthly data from January 2007 to July 2017. Results of preliminary analyses of stock market returns series show evidence of negative skewness, leptokurtosis, non-normal distribution, and average positive monthly return. Estimates from the GARCH-X (1,1) model show evidence of volatility clustering in the stock market returns. The estimates also show that stock market volatility responds to changes in foreign portfolio investment. On the other hand, changes in foreign direct equity investment do not influence stock market volatility. The key implication is for investors to adjust their portfolio to changes in the foreign portfolio investment, in order to mitigate stock market volatility, and for stock market regulators to encourage more inflow of foreign direct equity investment as a more stable source of foreign equity investment

Relationship between Pre and Post Merger and Acquisition Banking Industry Performance in Nigeria

The objective of this paper is to analyse the relationship between the pre and post merger and acquisition performance of banking industry in Nigeria. Aggregate banking data ranging from 1981 to 2013 were analysed for evidence of correlation between the pre-merger banking performance and post-merger banking performance in Nigeria. The results obtained from the descriptive analysis of the pre and post merger and acquisition periods shows that the banking industry performance is significantly better after the merger than before the merger. Furthermore, the Pearson correlation coefficients show that absence of relationship between the pre and post merger period. Overall, the results show that there is significant difference in the performance of Nigerian banking industry in the pre merger and post merger and acquisition periods

Credit Risk Management and Financial Performance of Microfinance Institutions in Kampala, Uganda

The objective of this study was to evaluate whether relationship exist between credit risk management techniques and financial performance of microfinance institutions in Kampala, Uganda. Specifically, the study examined whether there is a relationship between credit risk identification, credit risk appraisal, credit risk monitoring, credit risk mitigation and financial performance of microfinance institutions in Kampala using sample of 60 members of staff in finance and credit departments of three licensed microfinance institutions in Kampala, Uganda namely Finca Uganda Ltd, Pride Microfinance Ltd, UGAFODE Microfinance Ltd. Primary data was collected using questionnaires and it comprised of closed ended questions. Secondary data was collected from the microfinance institutions (MDI’s) annual reports (2011 - 2015).  Frequencies and descriptive statistics were used to analyse the population. Pearson linear correlation coefficient was adopted to examine relationship between credit risk management techniques and financial performance.  The findings indicate that credit risk identification and credit risk appraisal has a strong positive relationship on financial performance of MDIs, while credit risk monitoring and credit risk mitigation have moderate significant positive relationship on financial performance of MDIs. The study recommends, among others, that the credit risk appraisal process should identify and analyse all loss exposures, and measure such loss exposures. This should guide in selection of technique or combination of techniques to handle each exposure.  The study concludes that MDIs should continually emphasise effective credit risk identification, credit risk appraisal, credit risk monitoring, and credit risk mitigation techniques to enhance maximum financial performance

Credit Risk Management and Financial Performance of Microfinance Institutions in Kampala, Uganda

The objective of this study was to evaluate whether relationship exist between credit risk management techniques and financial performance of microfinance institutions in Kampala, Uganda. Specifically, the study examined whether there is a relationship between credit risk identification, credit risk appraisal, credit risk monitoring, credit risk mitigation and financial performance of microfinance institutions in Kampala using sample of 60 members of staff in finance and credit departments of three licensed microfinance institutions in Kampala, Uganda namely Finca Uganda Ltd, Pride Microfinance Ltd, UGAFODE Microfinance Ltd. Primary data was collected using questionnaires and it comprised of closed ended questions. Secondary data was collected from the microfinance institutions (MDI’s) annual reports (2011 - 2015).  Frequencies and descriptive statistics were used to analyse the population. Pearson linear correlation coefficient was adopted to examine relationship between credit risk management techniques and financial performance.  The findings indicate that credit risk identification and credit risk appraisal has a strong positive relationship on financial performance of MDIs, while credit risk monitoring and credit risk mitigation have moderate significant positive relationship on financial performance of MDIs. The study recommends, among others, that the credit risk appraisal process should identify and analyse all loss exposures, and measure such loss exposures. This should guide in selection of technique or combination of techniques to handle each exposure.  The study concludes that MDIs should continually emphasise effective credit risk identification, credit risk appraisal, credit risk monitoring, and credit risk mitigation techniques to enhance maximum financial performance

Dimensions of Emotional Intelligence and Transformational Leadership: A Correlation Analysis

The study was designed to explore the degree of relationship between emotional intelligence and transformational leadership style. Goleman who popularized the concept of the science of emotional intelligence and brought it to its academic zenith drew on a wealth of research to argue that successful leaders need emotional intelligence, or the attributes of self-awareness, impulse control, persistence, confidence, self-motivation empathy, social deftness, trust worthiness, adaptability, and a talent of collaboration. Data were generated through 5 – point Likert-type questionnaire based on Schutte, Self Report questionnaire. Pearson’s correlation analysis was carried out through the Statistical Package for Social Sciences, and a strong positive correlation of r = .90, was found between emotional intelligence and transformational leadership style

Global, regional, and national burden of disorders affecting the nervous system, 1990–2021: a systematic analysis for the Global Burden of Disease Study 2021

BackgroundDisorders affecting the nervous system are diverse and include neurodevelopmental disorders, late-life neurodegeneration, and newly emergent conditions, such as cognitive impairment following COVID-19. Previous publications from the Global Burden of Disease, Injuries, and Risk Factor Study estimated the burden of 15 neurological conditions in 2015 and 2016, but these analyses did not include neurodevelopmental disorders, as defined by the International Classification of Diseases (ICD)-11, or a subset of cases of congenital, neonatal, and infectious conditions that cause neurological damage. Here, we estimate nervous system health loss caused by 37 unique conditions and their associated risk factors globally, regionally, and nationally from 1990 to 2021.MethodsWe estimated mortality, prevalence, years lived with disability (YLDs), years of life lost (YLLs), and disability-adjusted life-years (DALYs), with corresponding 95% uncertainty intervals (UIs), by age and sex in 204 countries and territories, from 1990 to 2021. We included morbidity and deaths due to neurological conditions, for which health loss is directly due to damage to the CNS or peripheral nervous system. We also isolated neurological health loss from conditions for which nervous system morbidity is a consequence, but not the primary feature, including a subset of congenital conditions (ie, chromosomal anomalies and congenital birth defects), neonatal conditions (ie, jaundice, preterm birth, and sepsis), infectious diseases (ie, COVID-19, cystic echinococcosis, malaria, syphilis, and Zika virus disease), and diabetic neuropathy. By conducting a sequela-level analysis of the health outcomes for these conditions, only cases where nervous system damage occurred were included, and YLDs were recalculated to isolate the non-fatal burden directly attributable to nervous system health loss. A comorbidity correction was used to calculate total prevalence of all conditions that affect the nervous system combined.FindingsGlobally, the 37 conditions affecting the nervous system were collectively ranked as the leading group cause of DALYs in 2021 (443 million, 95% UI 378–521), affecting 3·40 billion (3·20–3·62) individuals (43·1%, 40·5–45·9 of the global population); global DALY counts attributed to these conditions increased by 18·2% (8·7–26·7) between 1990 and 2021. Age-standardised rates of deaths per 100 000 people attributed to these conditions decreased from 1990 to 2021 by 33·6% (27·6–38·8), and age-standardised rates of DALYs attributed to these conditions decreased by 27·0% (21·5–32·4). Age-standardised prevalence was almost stable, with a change of 1·5% (0·7–2·4). The ten conditions with the highest age-standardised DALYs in 2021 were stroke, neonatal encephalopathy, migraine, Alzheimer's disease and other dementias, diabetic neuropathy, meningitis, epilepsy, neurological complications due to preterm birth, autism spectrum disorder, and nervous system cancer.InterpretationAs the leading cause of overall disease burden in the world, with increasing global DALY counts, effective prevention, treatment, and rehabilitation strategies for disorders affecting the nervous system are needed

Relationship between Pre and Post Merger and Acquisition Banking Industry Performance in Nigeria

The objective of this paper is to analyse the relationship between the pre and post merger and acquisition performance of banking industry in Nigeria. Aggregate banking data ranging from 1981 to 2013 were analysed for evidence of correlation between the pre-merger banking performance and post-merger banking performance in Nigeria. The results obtained from the descriptive analysis of the pre and post merger and acquisition periods shows that the banking industry performance is significantly better after the merger than before the merger. Furthermore, the Pearson correlation coefficients show that absence of relationship between the pre and post merger period. Overall, the results show that there is significant difference in the performance of Nigerian banking industry in the pre merger and post merger and acquisition periods

Dimensions of Emotional Intelligence and Transformational Leadership: A Correlation Analysis

The study was designed to explore the degree of relationship between emotional intelligence and transformational leadership style. Goleman who popularized the concept of the science of emotional intelligence and brought it to its academic zenith drew on a wealth of research to argue that successful leaders need emotional intelligence, or the attributes of self-awareness, impulse control, persistence, confidence, self-motivation empathy, social deftness, trust worthiness, adaptability, and a talent of collaboration. Data were generated through 5 – point Likert-type questionnaire based on Schutte, Self Report questionnaire. Pearson’s correlation analysis was carried out through the Statistical Package for Social Sciences, and a strong positive correlation of r = .90, was found between emotional intelligence and transformational leadership style

Global Burden of Cardiovascular Diseases and Risk Factors, 1990-2019: Update From the GBD 2019 Study

Cardiovascular diseases (CVDs), principally ischemic heart disease (IHD) and stroke, are the leading cause of global mortality and a major contributor to disability. This paper reviews the magnitude of total CVD burden, including 13 underlying causes of cardiovascular death and 9 related risk factors, using estimates from the Global Burden of Disease (GBD) Study 2019. GBD, an ongoing multinational collaboration to provide comparable and consistent estimates of population health over time, used all available population-level data sources on incidence, prevalence, case fatality, mortality, and health risks to produce estimates for 204 countries and territories from 1990 to 2019. Prevalent cases of total CVD nearly doubled from 271 million (95% uncertainty interval [UI]: 257 to 285 million) in 1990 to 523 million (95% UI: 497 to 550 million) in 2019, and the number of CVD deaths steadily increased from 12.1 million (95% UI:11.4 to 12.6 million) in 1990, reaching 18.6 million (95% UI: 17.1 to 19.7 million) in 2019. The global trends for disability-adjusted life years (DALYs) and years of life lost also increased significantly, and years lived with disability doubled from 17.7 million (95% UI: 12.9 to 22.5 million) to 34.4 million (95% UI:24.9 to 43.6 million) over that period. The total number of DALYs due to IHD has risen steadily since 1990, reaching 182 million (95% UI: 170 to 194 million) DALYs, 9.14 million (95% UI: 8.40 to 9.74 million) deaths in the year 2019, and 197 million (95% UI: 178 to 220 million) prevalent cases of IHD in 2019. The total number of DALYs due to stroke has risen steadily since 1990, reaching 143 million (95% UI: 133 to 153 million) DALYs, 6.55 million (95% UI: 6.00 to 7.02 million) deaths in the year 2019, and 101 million (95% UI: 93.2 to 111 million) prevalent cases of stroke in 2019. Cardiovascular diseases remain the leading cause of disease burden in the world. CVD burden continues its decades-long rise for almost all countries outside high-income countries, and alarmingly, the age-standardized rate of CVD has begun to rise in some locations where it was previously declining in high-income countries. There is an urgent need to focus on implementing existing cost-effective policies and interventions if the world is to meet the targets for Sustainable Development Goal 3 and achieve a 30% reduction in premature mortality due to noncommunicable diseases