T
PROPOSAL
This project research study whose subject matter is on the
role of Nigerian stock exchange in industrial development is stated to be
presented in the normal fine chapter of a project work.
For a general insight and a fair understanding of the
intended course of action and various form of presentation evaluation and
analysis of data collection from successive interview questionnaires
administration as well as other source of data collection like news letters,
security market journal and business times. It is proposed to briefly run of
short preview of the expected contents of each chapter and preliminary pages of
the enter work.
The work started with the preliminary page which include
the title page approval page, proposal, dedication, acknowledgment and table
of content.
The first chapter which fellows the preliminary page
starts with the general introduction. This means paging attention to the
exposure of the topic under research. Therefore a background of the study and
statement of problem will be use to achieve this aim. Also the objective and
significance of the study will be revealed along side with hypothetical
statement and research question. The chapter finally ends up with the
disclosure of the scope and limitation
of the study.
Chapter two carries a general review of
available relevant literature hence books text book are the expected literature
re-reviewed for general searching and
support of existing information about the stocks exchanges .
Chapter there covers the research
design and methodology. Here the general features of the research procedure,
development of research material and treatment
of data will be given therefore the modes and series of tasks under
taken to ensure a successful research
and data collection will form the basic discussion under this chapter.
The preservation and analysis of
data from the main subject matter of chapter four the data collected therefore are presented
analyzed and concluded upon.
The last chapter which is chapter
fine will discuss the findings of the research works. This will be followed by
necessary conclusion and recommendation. Also this project work will end with the information which includes
definition of terms. Bibliography, appendix and questionnaires.
Finally, therefore the research have decided to take up
this study on the role of Nigerian stock exchange in industrial development
just because of her interest on the
benefit of the stock exchange and the effects it has on the industry
development.
ABSTRACT
The Nigerian stock exchange (NSE) has been created to
serve various function such as often of business guideline to top business
management concerning cost of capital for the Nigerian stock exchange provides
avenues for long term investment. These
function credited to the stock exchange is expected to create positive effect
on the general business and industrial growth of the country.
However, this research work is determined to evaluate the
effect of the stock. Exchange on the
general business growth especially in recent years. In carrying out the
research work with the above aim in mind efforts will be made to disclose
relevant findings thus drawing necessary solutions and recommendations to alleviate
some anticipated problem on the Nigerian stock exchange to be disclosed during
the research work.
TABLE OF
CONTENTS
Title page
Approval page
Dedication
Acknowledgment
Proposal
Abstract
Table of content
CHAPTER ONE
1.0
Introduction
1.1 Background of
the study
1.2
Statement of study
1.3
Objective of study
1.4
Research question’
1.5
Hypothesis formulation
1.6
Significance of the study
1.7
Scope of the study
1.8
Limitation of
1.9
Definition of term
1.10
Reference
CHAPTER TWO
2.0
Literature review
2.1 Evolution of
the stock exchange
2.2
Historical development of the Nigerian stock
2.3
General relationship of the stock exchange and the
economy
2.4
Advantage of the stock exchange as a source fund to the
industry
2.5
Functions of the stock exchange in influencing the
development parameters
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
3.0
Introduction to the study
3.1 Research
design
3.2
Area of study
3.3
Population of the study
3.4
Sample size determination
3.5
Instrument for data collection
3.6
Validation of instrument
3.7
Reliability of the instrument
3.8
Method of data collection
3.9
Method of data analysis
3.10 Reference
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
4.1
Presentation and analysis of data
4.2
Testing of hypothesis
4.3
Summary of result.
CHAPTER FIVE
DISCUSSION
RECOMMENDATION AND CONCLUSION
5.1
Discussion of result findings
5.2
Conclusion
5.3
Recommendation
5.4
Suggestion for further study
5.5
Bibliography
5.6
Appendix.
CHAPTER ONE
1.0
INTRODUCTION
1.1 BNACKGROUND
OF THE STUDY
Industrial growth forms the basis for industrial
development is not only needed for its ability to improve living standard. It
also acts as a weapon for building national strength and prestige. Therefore
industrial development implies the increase of industrial, expansion of quality
and quality of output and the institutionalization of industrial growth
process. It also involve technical activities
of a own routine nature concerned with translating research findings or other
with translating research findings or other scientific knowledge into products
or process.
With the concept of investment as a central factor in the
acceleration of industrial growth and development and the prominence given to
industrialization, steps have the establishment of the Nigerian stock exchange
(NSE) the evolution of continued
existence of the Nigeria stock exchange has always been small lots of shares to
e parceled into lumbs large enough to be
bought by institutions provide vast numbers of
different shares to be trades and providing a broad market in government securities its
economic significance depends on its ability to mop up financial capital for
investment purpose these include providing liquidity and enhancing these
marketability of new issues of stock thus reducing the real costs to business
firm by expanding the scope for obtaining fund.
Other functions of the stock exchange include the offer of
guidance to the business management in relation to the present cost of capital
so that the business man can determine
his level of investment appropriate to
the firm. Access to the vast number of
capital that are in very small amount of money that in their aggregate have s
commend over vast quantities of wealth. It also make it possible for the
transfer of funds that imposes only a minimum of administrative efforts he
lender. By this activity the stock exchange is able to provide an avenue
for long term investment to be financed by funds provided by individuals many
of whom to make it available for a short term or with draw it at will.
The competitive nature of the stock exchange makes it
possible to allocate funds efficiently which is achieved by the market ability
to available companies securities in a manner based on the capitalized value of
the company’s expected future earnings.
Apparently, only if stock are valued in this way will
funds be provided most abundantly and
at most reasonable terms to the most promising innovation who accounting to the
classical economic theory has the greatest use for them and who is the one that
can obtain the profits which will serve as the investors rewards. And it in
when shares are valued in relation to the
expected capitalized value of the firm that effective disciplinary
advice which punishes management whose operation are inefficient or
unprofitable.
Therefore a reliable rate which
results from investment in new factories, machinery, equipment and material to increase the physical capital
stock of the nation. The stock exchange market plays an important role in
propping up financial capital and provision of market for quoted stock so
as to chance the fulfillment of these
economic growth parameters. This investing so as to actualize the economic
growth.
1.2 STATEMENT
OF PROBLEM
The ignorance of the stock exchange has brought about how
participation of firm and individual engaging in the stock exchange and this
has also limited the availability of stocks and shares that could be traded on the stock market. The
stock market is faced with the problem of valley in delivering and settlement
of stock transaction.
For the fact that the number of quoted security is small
and the total capitalization is about 335 billion which is nothing when
compared with some companies abroad that have more than that amount of money as
its capital is not encouraging. And for the fact that the government is get to
privatize most of the companies in making
the stock market not to have financial strength.
Also affecting the market is the
fact that most of the operators ie the issuing, the stock brokers auditors etc.
are not connected on line and as a result of this information does not come
handy. The worst of it all is the political climate, which will not allow
foreigners to invest in our securities because of unforeseen circumstances.
1.3 OBJECTIVE
OF THE STUDY
1. One of the objectives is to examine the
extent to which the Nigerian stock
exchange has helped in the growth and development of the industrial sector.
2. The stock exchange has contributed
positively to the industrial development of the economy in providing market for
quoted securities.
3. The role of stock exchange to industrial
development encourage firms and individuals to invest in the stock exchange
venture, the recommendations from this write up can also help to as large
extent to improve stock exchange and it show the important of the stock market.
4. This research work could also be guide to
subsequent research work similar to this.
1.4 RESEARCH
QUESTION
1. Why are stock market facing the problem
of delay in delivering and settlement of stock transaction?
2. What cause low participation in firm and
individual engaging in the stock exchange?
3. How can our political climate not allow
foreigners to invest in our country?
4. Why
do government delay to privatize most of the companies in order to have
financial strength in the stock market?
1.5 HYPOTHESIS FORMULATION
To facilitate the expansion of the claims on the stock
exchange role in industrial development these hypothesis have been formulated
to know if the Nigeria stock exchange has made positive contribution to the
industrial growth and development in Nigeria.
1. H0: Quoted
firm do not perform significantly better then they did prior to such quotation
H0: Quoted firm do not perform significantly
better then they did prior to such quotation
2. H0: There
is no positive relationship between operational efficiency and pricing of
securities.
H0: There
is no positive relationship between operational efficiency and pricing of
securities.
3. H0: Increase
in quotation does not lead to increase in the investible fund.
H0: Increase
in quotation does not lead to increase in the investible fund.
1.6 SIGNIFICANCE
OF THE STUDY
The role of stock exchange and a catalyst in the
development of the economy has not been a question of debtor. The stock
exchange exist as a sources of fund to the industrial development and also for
the channeling of personal savings stock
into industrial place for trading company’s stock. It also creates room for
capital widening stock rather than deeping it. The benefit of stock exchange
quotation is the result of lower cost of capital when raising fund through the
market as stock exchange helps to allocate funds between industries and also
makes funds available to the most productive industries which hence develop the
nation.
1.7 SCOPE OF
THE STUDY
The scope of this study covers only the role the stock
exchange as a marketing floor for quoted share and stock thereby providing
liquidity for the shares and stock helps in the moping of units of inevitable
funds which on the aggregate dorm large enough capital.
1.8 LIMITATION
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