Merger and Acquisition and Perfomance of Deposit Money Banks in Nigeria: Pre and Post Analysis

Low capital base, insolvency, poor corporate governance and incessant banks distress among other factors have contributed to the recent failure of banks in Nigeria. To curb such challenges, banks all over the world now adopt mergers and acquisitions as a strategy to improve their performances. Therefore, this study examined the impact of mergers and acquisition on the performance of deposit money banks in Nigeria. The study considered capital structure, asset profile, total deposit and profit after tax of the selected bank as the measurement for the performance and effect of merger and acquisition of the bank in both pre and post merger and acquisition period. Data were collected from the published financial statements of the bank namely former Intercontinental Bank Plc and Access Bank (now Access Bank Plc) from 2005 to 2017 and the model was formulated using ordinary least square method. It was revealed that for both the pre-merger and post-merger periods, it was revealed that the access bank performed better. In the post – merger and acquisition period as asset profile and total deposit has no significant effect on the profit after tax of access bank in Nigeria, while capital structure has a significant effect on profit after tax of access bank plc. While in the pre-merger and acquisition capital structure, asset profile and total deposit have no significant impact on profit after tax of access bank plc. The study concludes that mergers and acquisitions have a significant impact on the performance of deposit money bank in Nigeria. Therefore, the study recommended that banks can merge or acquire one and other. This has proved to be an effective strategy for rescuing ailing or weak banks. This would provide financial muscles and managerial competence that would enhance financial performance.

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Islamic calendar and stock market behaviour in India

International Journal of Social Economics ◽

10.1108/ijse-09-2017-0404 ◽

2018 ◽

Vol 45 (11) ◽

pp. 1550-1566

Author(s):

Dharani Munusamy

Keyword(s):

Stock Market ◽

Least Square Method ◽

Least Square ◽

Stock Market Returns ◽

Content Type ◽

Ordinary Least Square ◽

Average Return ◽

Year Effect ◽

The Common ◽

The Impact

Purpose The purpose of this paper is to examine the behavior of the stock market returns in the different days of the week and different months of the year in accordance with the Islamic calendar. Further, the study estimates the risk-adjusted returns to test the performance of the indices during the Ramadan and non-Ramadan days. Finally, the study investigates the impact of Ramadan on the returns and the volatility of the stock market indices in India. Design/methodology/approach Initially, the study applies the Ordinary Least Square method to test the day-of-the-week and the month-of-the-year effect of the common and Shariah indices. Next, the study employs the risk-adjusted measurement to examine the underperformance and over-performance of the indices for both the periods. Finally, the study estimates the GARCH (1,1) and GJR-GARCH (1,1) models to observe the impact of Ramadan on the returns and the volatility of the Shariah indices in India. Findings The study finds that an average return of the indices during the Ramadan days are higher than non-Ramadan days. Further, the average returns of the Shariah indices are significantly higher on Wednesday than other days of the week. In addition, the highest and significant mean returns and mean risk-adjusted returns of the indices during the Ramadan days are observed. Finally, the study finds an evidence of the Ramadan effect on the returns and volatility of the indices in India. Originality/value The study observes evidence that the Ramadan effect influences the Shariah indices, but not the common indices in the stock market of the non-Muslim countries. It indicates that the Ramadan creates the positive mood and emotions in the investors buying and selling activities. The study suggests that investors can buy the shares before Ramadan period and sell them during the Ramadan days to get an abnormal return in the emerging markets.

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EFFECT OF CREDIT RATING ON CAPITAL STRUCTURE: A STUDY ON NON-FINANCIAL FIRMS IN PAKISTAN

IBT Journal of Business Studies ◽

10.46745/ilma.jbs.2012.08.02.05 ◽

2012 ◽

Vol 12 (1) ◽

Author(s):

Keyword(s):

Capital Structure ◽

Credit Rating ◽

Stock Exchange ◽

Credit Ratings ◽

Least Square ◽

Statistical Tool ◽

Ordinary Least Square ◽

Optimal Capital Structure ◽

Financial Firms ◽

The Impact

Purpose- Aim of this study was to investigate whether the credit rating is an important determinant other than the firm's characteristic to obtain optimal capital structure focusing on the research hypothesis that the firms with higher credit along with the other factors (FTOA, ROA and Size) tend to have more debt in their capital structure of firms rated by P?CR? and Karachi Stock Exchange (KSE). Methodology/Sample- For this research, sample size of 48 observations (3 years data of 16 firms) was taken on the basis of convenience sampling. Results obtained by using Ordinary Least Square Model (OLS) as statistical tool to test the hypothesis Findings- Analysis clearly suggested that credit ratings do have an impact on firm's capital structure. It was concluded that firms with higher credit ratings along with other factors (FTOA, ROA and Size) do not tend to have more debt in their capital structure. Implications- Outcomes of this research might help investors, debtors and other stakeholders of the firms (rated by PACRA) to understand the impact of credit rating on firm's debt ratio and the overall dynamics and mechanism of capital structure.

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THE IMPACT OF MIGRATION ON THE WAGE DISTRIBUTION IN INDONESIA

AFEBI Economic and Finance Review ◽

10.47312/aefr.v3i02.202 ◽

2019 ◽

Vol 3 (02) ◽

pp. 1

Author(s):

Clalisca Pravitasari ◽

Arie Damayanti

Keyword(s):

Migrant Workers ◽

Least Square Method ◽

Jel Classification ◽

Least Square ◽

Wage Distribution ◽

Average Wage ◽

Ordinary Least Square ◽

Wage Rates ◽

Negative Impacts ◽

The Impact

Research on the impact of migration on workers' wages in destination areas has long been debated in the literature. However, studies that link migration to wage rates in different percentiles along the distribution have not been widely implemented, as migration does not have the same impact on wage levels in all groups of workers. By establishing a counterfactual using the semi-parametric DFL method of National Labor Force Survey data, this study found that migration promotes changes in the distribution of wages, especially in the upper and lower percentiles. After controlling the magnitude of in-migration in each percentile group by using the ordinary least square method, this study also proves that migration leads to wage decreasing in percentile groups where migrant workers are overrepresented, which is in the 75th and 90th percentile groups. Meanwhile, no negative impacts were found on wage levels in the lower middle percentile. In fact, migration has proven to encourage an increase in the average wage of workers in the lowest percentile of the distribution.JEL Classification: J01, J11, J61Keywords: counterfactual, migration, wage distribution

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Electronic fraud: an emerging cause of bank failure in Nigerian deposit money banks

Journal of Money Laundering Control ◽

10.1108/jmlc-01-2021-0009 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Folowosele Folarin Akinwale ◽

Ikpefan Ochei Ailemen ◽

Isibor Areghan

Keyword(s):

Deposit Insurance ◽

Descriptive Analysis ◽

Secondary Data ◽

Least Square Method ◽

Least Square ◽

Annual Reports ◽

Content Type ◽

Ordinary Least Square ◽

Unethical Practices ◽

The Impact

Purpose This study aims to review the degree to which fraud and other unethical practices especially in the digital space have affected the Nigerian banking industry both in the past and present, and how it will be a growing concern in the imminent future. The objective of the study was to examine the impact of electronic fraud on the quality of assets and return on assets of Nigerian deposit money banks. Design/methodology/approach The research used secondary data for the periods 2006 till 2018, which were collected from the Nigeria Deposit Insurance Corporation annual reports. Descriptive analysis and the ordinary least square method of regression analysis were used for data analysis. Findings Findings revealed that electronic fraud cases increased progressively over most of the years of study, which can be attributed to the increased bank products that are electronic-based. Originality/value Many of the reviewed literature examined electronic fraud and its impact on bank profitability but this study examined the cause of electronic fraud and what can be done to curtail it.

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PENGARUH KARAKTERISTTK CORPORATE GOVERNANCE TERHAD AP STRUKTUR MODAL

Media Riset Akuntansi Auditing & Informasi ◽

10.25105/mraai.v9i1.665 ◽

2009 ◽

Vol 9 (1) ◽

pp. 19

Author(s):

Muhammad Zilal Hamzah ◽

Andhika Suparjan

Keyword(s):

Corporate Governance ◽

Capital Structure ◽

Least Square Method ◽

Least Square ◽

Board Composition ◽

Debt Ratio ◽

Board Size ◽

Foreign Agent ◽

Ordinary Least Square ◽

Ceo Tenure

Today, global economics condition has given many changes in national economics situation, especially in business competition. It can be seen from the agents of economics activity either domestic or foreign agent who operated their activities in Indonesia. Hence, every company should have their own characteristic in order to develop their business, if compares to anothers. This research aims to know the effect of corporate governance characteristic on capital structure. With using Ordinary Least Square method, this research finds that Board Size, Board Composition, CEO Duality, CEO Tenure, Firm Size, ROA, Risk, and Growth have significant effect toward their Debt Ratio, simultaneously. Meanwhile, partially Board Size and Growth have no significant effect toward Debt Ratio. As the conclusion, the good corporate governance will increase the value of the firm.Keywords: Corporate Governance, Capital Structure, value of the firm.

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Analisis pengaruh leverage terhadap nilai perusahaan dengan kepemilikan manajerial dan arus kas bebas sebagai variabel pemoderasi

Jurnal Ekonomi ◽

10.24912/je.v22i1.189 ◽

2017 ◽

Vol 22 (1) ◽

Author(s):

Linawaty Linawaty ◽

Agustin Ekadjaja

Keyword(s):

Cash Flow ◽

Firm Value ◽

Stock Exchange ◽

Secondary Data ◽

Least Square Method ◽

Free Cash Flow ◽

Least Square ◽

Ordinary Least Square ◽

Management Ownership ◽

The Impact

The purpose of this study is to examine whether or not the effect of leverage on firm value with management ownership and free cash flow as moderating variabel practice of manufacture firms listed in Indonesian Stock Exchange for period 2012-2014. Thirty five sample are selected by purposive sampling and used ordinary least square method to analysis. This study used secondary data such as firm financial statement that published during the observation year. Dependent variabel in this study is firm value practice of real estate firms listed in Indonesian Stock Exchange, while the independent variabels are leverage, management ownership, and free cash flow. The result shows that the impact of leverage is significant on firm value; Free Cash Flow is significant moderating leverage on firm, Management Ownership is not significant moderating leverage on firm value

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Impact of Capital Market on Economic Growth in Nigeria

Business and Management Research ◽

10.5430/bmr.v9n2p49 ◽

2020 ◽

Vol 9 (2) ◽

pp. 49

Author(s):

Ubesie M. C. ◽

Nwanekpe C. E. ◽

Ejilibe C.

Keyword(s):

Economic Growth ◽

Capital Market ◽

Labour Force ◽

Least Square Method ◽

Least Square ◽

Standard Of Living ◽

Ordinary Least Square ◽

Result Show ◽

The Government ◽

The Impact

This study on “Impact of Capital Market on Economic Growth in Nigeria” is aimed to access the impact and determinant of capital market on the economic growth in Nigeria within the period of study. It further employed the ordinary least square method (OLS) in analyzing the time series variables obtained for the study. The result of the findings show that all the variables of interest were significant in explaining the behavior of capital market on the growth of Nigeria Economy except Labour force. more so, the result show that the the model employed for the analysis is adequate and best in fitting the variables obtained. Further more, necessary recommendations were made to enable the government come up with a favorable policies in which will make for improvement in the standard of living.

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Does the Impact of State Ownership on Financial Performance of Firms Vary across different Sectors in China?

Global Economics Review ◽

10.31703/ger.2019(iv-iii).03 ◽

2019 ◽

Vol IV (III) ◽

pp. 24-32

Author(s):

Muhammad Yusuf Amin

Keyword(s):

Firm Performance ◽

Financial Performance ◽

Least Square Method ◽

State Ownership ◽

Least Square ◽

Annual Data ◽

Listed Firms ◽

Ordinary Least Square ◽

Firm Profitability ◽

The Impact

This study explores the impact of state ownership on the performance of Chinese listed firms. This study uses annual data of 143, state-owned 1,235, private enterprises for a period of 2011 to 2015. We use Ordinary Least Square method to find whether firm profitability and ownership are associated with each other or not. The results of whole sample indicate that over all firm performance and state ownership are negatively associated in China. However, the negative connection between state ownership and financial performance changes as we run the regression across different sectors.

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Effects of Climate Variability and Climate Change on Sorghum Productivity in the Cercle of Koutiala in Mali

Asian Journal of Agricultural Extension Economics & Sociology ◽

10.9734/ajaees/2020/v38i1230490 ◽

2020 ◽

pp. 68-79

Author(s):

Diakalidia Kouyate

Keyword(s):

Positive Impact ◽

Least Square Method ◽

Least Square ◽

Climatic Variables ◽

Ordinary Least Square ◽

Average Temperature ◽

Temperature And Precipitation ◽

Negative Impacts ◽

June July ◽

The Impact

The main objective of this study is to analyze the impact of climatic variables (temperature and precipitation) on sorghum productivity in the Cercle of Koutiala in Mali. To do this, the model of the production function was used to estimate the variation of sorghum yield during a period of 30 years (1986-2015). After the test of the unit root of Dickey-Fuller Augmented (ADF), the estimation of the semi-logarithmic model by the Ordinary Least Square method (OLS) showed that the yield of sorghum was affected by the climatic variables. The increase in average rainfall over the period June-September positively affects the performance to a certain threshold. On the other hand, the average temperatures during June-July have no significant effects on the yield. The temperatures observed during August and September, negatively affect the performance of sorghum during the study period to a certain threshold. The precipitations of August and September have a positive impact but not significant on the yield. The interaction between mean precipitation and average temperature during the same period negatively influences the yield of the sorghum. Indeed, the increase of the precipitation combined with an increase of the temperature for the period June to September causes a reduction in the yield of sorghum. Depending on this situation, it is important and necessary to take measures to mitigate the negative impacts of climate on sorghum yield in the Cercle of Koutiala.

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The Impact of Merger and Acquisition on Bank Performance: A Case of Pakistani Banking Sector

Global Social Sciences Review ◽

10.31703/gssr.2019(iv-i).51 ◽

2019 ◽

Vol IV (I) ◽

pp. 396-402

Author(s):

Muttalib ◽

Muhammad Faizan Malik ◽

Shehzad khan

Keyword(s):

Banking Sector ◽

Market Performance ◽

Merger And Acquisition ◽

Least Square ◽

Ordinary Least Square ◽

Regulatory Policies ◽

Acquisition Strategy ◽

Using Data ◽

The Impact ◽

Further Development

Merger and acquisition is the strategy used by banks to expand its development process. In the current study operating and market performance has been assessed of the Banks exercised the M&A by taking the data from 2005-17. The main focus of the study is to evaluate the Banks performance using data collected from nine banks gone through the merger and acquisition strategy with the help of ordinary least square model. The results show significant relationship operating performance but insignificant relation with market performance. Findings provided an opportunity for the Banks to study and utilize the M&A strategy for capturing market share and further development in the competitive market. Furthermore, a glimpse for potential investors has been provided who want to create a profitable portfolio according to market concentration. The implications demands that proper improvement should be considered for the mechanism and regulatory policies to ensure the security of Banks.

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