Equities-Capital Market Performance Modelling (Ecmp) in  Nigeria International

Duruechi Anthony  H; Chigbu S.U.; Ekweozor,  Izunna C

doi:10.31149/ijefsd.v6i2.5225

Authors

Duruechi Anthony H
ogunodejacob@gmail.com
Department of Banking and Finance, Imo State University, Owerri. Imo State Nigeria
Chigbu S.U. Department of Banking and Finance, Imo State University, Owerri. Imo State Nigeria
Ekweozor, Izunna C . Department of Accountancy, School of Management Studies, Federal Polytechnic, Kaltungo, Gombe State, Nigeria

Vol. 6 No. 1 (2024): International Journal on Economics, Finance and Sustainable Development (IJEFSD)

Articles

March 31, 2024

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The work examined equities market operations and capital market performance
in Nigeria. It covered the periods 1990 to 2021. Equities market operations were captured
by equities market capitalization (ecap), number of listed equities (nole), number of traded
equities (note) and value of traded equities (vote). The performance of the capital market
on the other hand was encapsulated using market capitalization of the entire market. Data
on these variables were obtained from the Central Bank of Nigeria (CBN) and Securities
and Exchange Commission (SEC) statistical bulletins. The Autoregressive Distributed Lag
(ARDL) approach to cointegration analysis technique aided by the e-views software was
used to analyze the data. The result of the study revealed the existence of long-run
relationship between equities market operations and performance of the capital market.
This led to the conclusion that equities market operations influences capital market
performance in Nigeria. Therefore, it was recommended that there is need for increased
awareness on the activities of the equities market in Nigeria, promotion of market
transparency, confidence in the system and regulatory stability for improved efficiency
and effectiveness.

H, D. A. ., S.U., C., & Izunna C, E. . (2024). Equities-Capital Market Performance Modelling (Ecmp) in Nigeria International . International Journal on Economics, Finance and Sustainable Development, 6(1), 180–194. https://doi.org/10.31149/ijefsd.v6i2.5225

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