This study critically examines the relationship between the capital market and economic growth of Nigeria. Data are mainly obtained from secondary sources, the CBN statistical bulletin over the period of 1980–2015. The results from the augmented Dickey Fuller unit root test show that all the...

The study examines the impact of Corporate Social Responsibility (CSR) on financial performance of two selected banks in Nigeria using their annual data for the period 1990-2010. Pearson correlation test was used to analyze the correlation that exists between CSR and Profit After Tax (PAT) which...

The study critically examines the impact of capitalization on bank liquidity creation in selected banks of Nigeria using the annual data of 10 banks for the period 2006 to 2010. The results of Levin, Lin and Chu unit root test show that all the variables are nonstationary at level. The results...

The relationship between capital structure and firm performance has received considerable attention in finance literature. This study examines the impact of capital structure on performance of some selected manufacturing companies in Nigeria using the annual data of five firms for a period of...

This note demonstrates how performance measure congruity and noise determine an agency’s total surplus within an linear agency framework with multiple tasks. It provides a decomposition of agency costs, leading back to a congruity index previously proposed in the literature. In addition,...

We develop a model to show that cartels that produce goods with lower durability are easier to sustain implicitly. This observation gen- erates the following results: 1) implicit cartels have an incentive to pro- duce goods with an inefficiently low level of durability; 2) a monopoly or explicit...

In this paper, a promotion tournament is considered, where, at the beginning of the tournament, it is unknown how long the tournament lasts. Further, the promotion decision is based on the assessments of a supervisor with imperfect recall. In line with psychological research, the supervisor is...

Policy makers often decide to liberalize foreign bank entry but at the same time restrict the mode of entry. We study how different entry modes affect the interest rate for loans in a model in which domestic banks possess private information about their incumbent clients but foreign banks have...

Lecture on the first SFB/TR 15 meeting, Gummersbach, July, 18 - 20, 2004The explicit or implicit protection of banks through government bail-out policies is a universal phenomenon. We analyze the competitive effects of such policies in two models with different degrees of transparency in the...