Global Journal of Arts, Humanities and Social Sciences (GJAHSS)

EA Journals


Financial Indicators and Stock Market Performance in Nigeria (Published)

This study examined financial indicators and stock market performance in Nigeria. The low performance of the stock market has been attributed to so many factors, ranging from financial, macroeconomic to political and institutional. Hence, the study examined the relationship between financial indicators and stock market performance, using the econometric analytical technique. Annual time series data sourced from the Central Bank of Nigeria and Nigerian Stock Exchange were employed. Stock market performance was measured by all-share index while financial indicators were represented by stock market profitability, liquidity and efficiency. The bound testing and Autoregressive Distributed Lag model estimation techniques were employed for the analysis. It was revealed that a long run relationship exists among the variables in the estimated model. A positive relationship exists between market profitability, liquidity, efficiency and stock market performance in Nigeria with coefficients of 58.98, 879.58 and5152.51, respectively. The implication of the findings is that market profitability, market liquidity and market efficiency have positive impact on stock market performance in Nigeria. Hence, the study recommends that; there is need for implementing policy such as good corporate governance that will maximize profit for investors in the market, make it attractive and hence deepen the Nigerian stock exchange market; the provision of windows for firms to raise cash through issuance of new shares, debentures, loans and deposits,  when needed and enhance the ability of the firms to convert assets to cash to pay its current liabilities and its debt capacity;while a high trading volume should be maintained to enhance efficiency of the Nigerian capital market.

Keywords: ARDL, Nigeria, financial indicators, stock market performance

Income Inequality, Health Care Expenditure and Economic Performance in Nigeria (Published)

This paper examined the impact of income inequality and healthcare expenditure on economic performance in Nigeria over the period 1990-2020 using the Autoregressive Distributed Lag (ARDL) estimation technique. The findings reveal the existence of a positive and a statistically significant relationship between income inequality and economic performance as well as health care expenditure and economic performance in Nigeria. In addition, the results show that health care is a necessity rather than a luxury in Nigeria. The study recommends that government should implement programs and policies that will alleviate the inequality in income distribution as well as appropriate policies at the macroeconomic level targeted at public health expenditure to enhance economic performance


Keywords: ARDL, Economic Performance, Health Care Expenditure, Income Inequality, Nigeria

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