ABSTRACT
The materials on this research project
have been systematically presented into five structured chapters.
The genesis of these, chapter one
introduces the impact of stock exchange in Nigeria economic. It dwells on the
importance of the study and definition of items / terms.
Chapter two critical revises related
literature much emphasis on the Nigeria
capital market.
This chapter further validates the
impact of stock exchange in the Nigeria
economy.
Chapter three focus more on historical
background of the Nigeria
stock exchange and data analysis, sampling and populations.
Chapter four is basically on research
question and stock market performance in 2006, value of transaction of Nigeria
stock exchange.
In conclusion, chapter five summarized
the major finding of research. Furthermore this chapter focuses on conclusion
of study and recommended us as suggested based on the finding of the research.
TABLE OF
CONTENTS
Title page
Certification
Dedication
Acknowledgment
Proposal
Table of contents
CHAPTER ONE
1.0 Introduction
1.1 Background
Information
1.2 Important
of the study
1.3 Research
question
1.4 Need of
the study
1.5 Statement
of the problem
1.6 Limitation
1.7 Definition
of the terms
1.8 Recommendation
1.9 Questionnaire
CHAPTER TWO
2.1 Literature
review
2.2 Impact of
the stock exchange in Nigeria
capital market
2.3 Review of
some writer on the basic
for computation
2.4 The Nigeria
stock exchange
2.5 Main
characteristics of the
Nigeria stock exchange
2.6 The
impact of the stock exchange In Nigeria
economy
2.7 Distribution
between primary and
secondary segment of the capital market
2.8 Difficulties
in the Nigeria
stock exchange
CHAPTER THREE
3.1History of the case study and Methodology
3.2 Development
of research instrument
3.3 Population
3.4 Sampling
3.5 Distribution
and collection of data
3.6 Method of
data analysis
3.7 Observation
CHAPTER FOUR
4.0 Data
Presentation and analysis
4.1 Introduction
4.2 Research
Question 1
4.3 Research
Question 2
4.4 Research
Question 3
4.5 Value of
transaction in the Nigeria
stock exchange
4.6 Stock of
market performance in
January to June 2009 – 2010
CHAPTER FIVE
5.0 Summary,
Conclusion and
Recommendations
5.1 Summary
5.2 Conclusion
5.3 Recommendation
Reference
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND INFORMATION
This
impact of stock exchange in the Nigerian economy is the topic of this project
work. It examines the impact which the stock exchange plays in Nigerian economy
when we talk of government securities.
1.
A market for
government securities
2.
A market for
private shares
This creates the need for mechanism for
selling and buying of securities or shares. The stock exchange with price
support at per.
The price of government stock exchange
is fixed and sold to buyers according to their needs. The market for private
securities.
From government securities e.g. more
trading is induced. The exchange is mainly the place for the purchase and sales
of securities hared quoted securities.
Quoted securities are those which the
stock exchange council has agreed, may be sold on the exchange only the
securities listed or quoted companies are traded on the exchange firm must meet
the listed requirement of the stock exchange.
The Nigerian stock exchange started as
the Lagos stock
exchange in 1960. It commenced the Nigerian stock exchange in 1977 and
established in Kaduna and Port Harcourt.
Securities dealt on the stock exchange
include industrial e.g. Dentures ordinate shared, preference shares, cult edges
securities.
The stock exchange is governed by its
council which is elected by members of stock exchange. It performs following
functions.
1.
To protect that
the rule of the stock exchange are observe by its members.
2.
To protect the
inverting public
The membership are three groups:-
FOUNDATION
MEMBER:
Include
those who signed the memorandum of association in 1966 when Nigerian stock
exchange was Incorporated C.T. saving and co (NIG) LTD Investment Company of
Nigeria Ltd, Sir, Odumwgwen, Akintola Williams and Alhaji Shedu Surker.
ORDINARY
MEMBERS:
Those admitted on application to the Nigeria
stock exchange these are firms or institution that intend to seek dealing
membership or which are in a position to give financial and investment advise
to the exchange.
DEALING MEMBERS:
Individual
person firm or co-operate body licensed by the council of the Nigeria stock to deals in stock,
shares and all for the time being granted quotation on the Nigerian stock
exchange.
1.2 IMPORTANT OF THE STUDY
Despite
the tremendous impact played by stock exchange they benefit to operates in the
stock exchange market and Nigerian economy enjoy. There is little evidence to
show that the stock exchange does not manifest some optimizing characteristics
which are very important in the development of capital market and the Nigerian
economy as a whole. The study is relevant and justifiable to the extent that it
will after examining its problem, the role and impact of the evaluated and
measure that will be sufficiently discussed.
However,
the main focus and objectives of the analysis includes the following.
- To trace the history of Nigerian stock
exchange.
- To highlight the impact of the stock exchange in Nigeria
economy.
- To highlight the function of the stock exchange
market to the economy.
- To examine the deficiencies in the stock exchange.
- To make recommendations for the development of the
stock exchange to the Nigerian economy.
1.3 RESEARCH QUESTION
What is the meaning of stock exchange?
What are the features of the stock
exchange
What are the contributions of stock
exchange to the Nigerian economy?
1.4 NEEDS TO THE STUDY
As it
has been early started, this project work is to cover the impact played and Nigeria
stock exchange in the Nigerian economy. Despite all the problems and difficulties
on this study. As reviewed to generate the impact to performing by the stock
exchange.
The
scope of this study is largely on the impact of the stock exchange. The under
development nature of the Nigeria
economy, market. It imperatives for the stock exchange to be catalyst for
economy growths and development of Nigeria.
The exchange can only perform this rule
by essentially catering for long term investment needs for business and
government.
However, the main focus is on the
examination of the stock exchange over the year and making recommendation of
its development of the Nigerian economy.
1.5 STATEMENT OF THE PROBLEM
This
research work looks into the problems of stock exchange in Nigerian such as:-
The vigorous listing requirement.
The high positive transition cost of the
securities and exchange commission.
The presence of the un-regular information
markets the securities law.
It is
on a basic of pact that this study is being carried to determine exactly the
impact of the stock exchange in the Nigerian economy.
1.6 LIMITATION
The whole part of this research is
divided into five main paragraphs on heading, dealing with the specific of this
project work.
The
introduction deals with about the topic, the Nigeria economy. It examines the
impact which stock exchange plays in the Nigerian economy.
The
main focus and the limitation of the analysis include the following:-
- To trace the history or stock exchange.
- To highlight the impact of the stock exchange in the
economy of the countries.
- To highlight
the functions of exchange market.
1.7 DEFINITIONS OF TERMS
It has
been earlier stated, this project work is to over the impact played by the
stock exchange in the economy. Despite all the term on this study is based on
the Nigerian stock exchange and who they are using the terms.
1.
Quoted:
Are the share quoted on the floor of the stock exchange at a price given e.g.
80k per share.
2.
Certification of procession: Is a document or certificate showing ownership of
properties.
3.
Stocks: Are
the money tent to government in return for interest share in the capital of a
business company e.g. N500 in the stock or the banks invest once money is a
save stock.
4.
Stock Holder: Are
the people whose business or are the people who invest his money in another
business.
5.
Stock broker: Are
the person whose dealing buying and selling of stocks and shares for people who
want to invest money or on the stock exchange.
6.
Jobber: Are
the members of the stock exchange from list in the publication with current
price of stock and shares.
7.
Exchange: This
is giving and receiving of money from one person or country for that of another
relation in value between hands or country used in different countries that
rate of exchange is between the naira and dollars or pound etc.
8.
Debenture: Is
a types of saving bound which offer a fixed rate of interest over a long
period.
1.8 RECOMMENDATIONS
The
following recommendations are made as a result of the study.
Relaxation
of the statutory long requirement for companies to be traded in the stock
market.
There
should be reduction in most of transaction involved inflation of shares in
order to allows companies seek a listing in the exchange.
The Nigeria
securities and exchange commission and stock exchange should find ways to
deregulating the trading process so that prices quoted for the listed
securities can be more indicative of the performance of listed companies.
For a
more active stock market there is need to grants stock market brooking license
companies.
Investment
and saving should be encouraging by the government of the country.
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