IMPACT OF CORPORATE GOVERNANCE REGULATION IN DEVELOPING COUNTRIES STOCK EXCHANGE: A CASE STUDY OF THE NIGERIAN STOCK EXCHANGE

¹Tony IkechukwuNwanji, ²Wilson Ozuem³Kerry E. Howell, ⁴Sainey Faye, ⁵Adegbola OlubukolaOtekunrin, &⁶Damilola Felix Eluyela

^1,3,5,6Department of Accounting and Finance, Landmark University, Nigeria

²University of Cumbria and University of Warwick UK

³School of Business, Teesside University, UK.

              ⁴Department of Accounting and Finance, New University, Buckingham, UK         

Email:¹nwanji.tony@lmu.edu.ng; ²wilson.ozuem@cumbria.ac.uk

³kerry.howell@northumbria.ac.uk;⁴sainey, faye@bucks.ac.uk,

⁵otekunrin.adegbola@lmu.edu.ng, ⁶eluyela.damilola@lmu.edu.ng

ABSTRACT

This study examined the impact of corporate governance regulations in developing countries Stock Exchange using Nigerian  Stock Exchange as a case study. The paper highlighted the fact that even though most companies prepare an excellent annual report and accounts, still, if they have a weak system of corporate governance systems in their organisation, the probability of the enterprise going under is high.  Many countries around the world have made efforts to forestall corporations operating within their economy collapsing by constituting various bodies and committees to fashion out the best corporate governance principles to adopt, which would be in tandem with their peculiar socio-economic makeup. In Nigeria, the Securities and Exchange Commission (SEC) in collaboration with the Corporate Affairs Commission was mandated to identify weaknesses in the current corporate governance practices.Finding from this study suggest that the Nigerian Stock Exchange hascarried out their regulatory functions.  While this is so, the management of the NSE must ensure that it has an arrangement for continual training of its supervisors to get them to gully knowledgeable about modern trends and new technologies to aid them efficiently discharge their duties.

Keyword: Corporate Governance, Regulation, Shareholder and Stakeholder Theories, Stock Exchange.

IMPACT OF INSURANCE PRODUCTS ON THE SUSTAINABILITY OF NIGERIA ECONOMIC

Raji, Oladeinde Akeem&Adejuwon, E. O.

Department of Insurance

The Federal Polytechnic,Ilaro, Ogun State

Email: akeemraji02@yahoo.com; adejuwonolatunji95@gmail.com

ABSTRACT

The study evaluated the impact of insurance products on the sustainability of Nigeria economic growth between 1981 and 2019. The study used secondary data on gross domestic product, Fire insurance premium, accident insurance premium and motor insurance which were gathered from Central Bank of Nigeria (CBN) Statistical Bulletin and NAICOM Bulletin 2019. The study employed descriptive statistics and multiple regression technique based on the E-views version 9.0 computer software as methods of data analysis for predicting the relationship between the adopted insurance product and economic growth based on the model. The study found that fire insurance premium and motor insurance premium has a positive relationship with the gross domestic product while accident insurance premium has a negative relationship with the gross domestic product. Also, it was found that fire insurance premium, accident insurance premium and motor insurance premium has a significant effect on the gross domestic product. The study concluded based on the findings that insurance product has impact on the sustainability of Nigeria economic growth. The study therefore recommended that government to make insurance protection mandatory for individuals and businesses to ensure safety of investment and sustain the level of growth in the economy.

Keywords: Accident Insurance,Fire Insurance, Motor Insurance, Gross Domestic Product, Premium.