ABSTRACT
This study is concerned with evaluation of the role of the Nigeria stock Exchange in capital formation and economic development.
The Nigeria stock exchange being responsible for the mobilization of funds has being having divergent views over its impact by different quarters some has been praising stock exchange for its role in fund mobilization for capital formation, which invariably leads to economic development, while some has being criticizing it on its ineffectiveness.
Result of various scholars on the above topic assigned greater role to the Nigeria stock exchange as an avenue for capital formation especially in developing countries like
Nigeria.
However, this study is a product of it observations mode and the reflection gathered from these previous studies and it is aimed at revealing the extent to which the Nigerian stock exchange had been performing its funds mobilization role crucial to the development of the economy.
TABLE OF CONTENTSPAGE
TITLE PAGEI
APPROVAL PAGEII
DEDICATIONIII
ACKNOWLEDGEMENTIV
ABSTRACTVII
TABLE OF CONTENTSIX
CHAPTER ONE
1.0INTRODUCTION1
1.1STATEMENT OF PROBLEM8
1.2PURPOSE OF STUDY9
1.3SIGNIFICANCE OF THE STUDY9
1.4STATEMENT OF HYPOTHESIS10
1.5SCOPE OF THE STUDY12
CHAPTER TWO
2.0LITERATURE REVIEW13
2.1INTRODUCTION13
2.2THE IMPACT OF CAPITAL MARKET RELATION TO STOCK EXCHANGE TOWARDS ECONOMIC DEVELOPMENT17
2.3HISTORICAL DEVELOPMENT OF THE NIGERIAN MARKET21
2.4THE MAJOR INSTITUTION IN THE NIGERIAN CAPITAL MARKET (NIGERIA SECURITIES AND EXCHANGE COMMISSION)23
2.4.1CAPITAL ISSUES COMMITTEE23
2.4.2OTHER MAJOR INSTITUTION IN THE NIGERIAN CAPITAL MARKET26
2.4.3THE NIGERIAN STOCK EXCHANGE29
2.5.1HISTORICAL DEVELOPMENT33
2.5.2MEMBERSHIP AND OPERATION37
2.5.3FUNCTIONS OF THE EXCHANGE38
2.5.4STRUCTURE OF THE EXCHANGE39
2.5.5STOCK MARKET ACTIVITIES40
2.6EXPECTED ROLE OF THE NIGERIAN STOCK EXCHANGE IN CAPITAL FORMATION.41
2.7EXCHANGE ROLE OF THE NIGERIAN STOCK EXCHANGE IN THE NIGERIAN CAPITAL MARKET ESPECIALLY AS RETARDS NEW ISSUES THE PRIMARY MARKET.44
CHAPTER THREE
3.0RESEARCH DESIGN AND METHODOLOGY
3.1POPULATION OF THE STUDY50
3.2METHOD OF DATA COLLECTION51
3.3PROCEDURE FOR DATA ANALYSIS52
3.4VALIDATION OF THE INSTRUMENT52
CHAPTER FOUR
4.0PRESENTATION AND DATA ANALYSIS
4.1DATA PRESENTATION AND ANALYSIS54
4.2TEST OF HYPOTHESIS59
CHAPTER FIVE
5.0SUMMARY OF FINDINGS, CONCLUSION, RECOMMENDATION
5.1FINDINGS63
5.2CONCLUSION68
5.3RECOMMENDATION66
BIBLIOGRAPHY70
APPENDIX: QUESTIONNAIRE