An Analysis of the Long-Run Performance IPOs and Effects in the Kenyan Stock Market

Listing of a company in the securities exchange has been observed to be followed by underpricing in the first day and long term period of underperformance in terms of pricing in the subsequent days. Consequently, there has been a considerable curiosity from stakeholders, investors and academics to comprehend the assessments of why companies go public and the issues surrounding the short and long-run performance of newly issued equities. Underpricing is necessary to induce uninformed investors to participate in IPO offering when faced with adverse selection from informed investors. This often leads to first day price not reflecting a fair value of the IPO. The objective of the study was to determine the long-run performance IPOs and effects in the Kenyan stock market for the period 2007-2014. A descriptive survey research design was employed in the study. The population of the study encompassed all the 64 listed companies at the NSE as at 2016. The study employed a non-probability purposive sampling technique. Data collected for this study was secondary data obtained from NSE website, NSE price lists and the Central Bank of Kenya website for the period 2007 to 2014. The data obtained was analyzed using Statistical Package for Social Science (SPSS). Mean Average Buy and Hold Returns (MABHR), Abnormal Returns (AR) and Cumulative Abnormal Returns (CAR) were used to calculate the performance of the stocks. T-statistic for CAR was computed to the test for its significance. T-test was conducted at 95% confidence level to find if MABHR and CAR were statistically significant after IPOs announcement.

Central Bank in the Function of Development of National Economy of Bosnia and Herzegovina

The paper addresses and evaluates the currency board policy and assesses whether the currency board, as a form of monetary policy, is in the function of development of Bosnia and Herzegovina's national economy. In this context, a hypothesis that the currency board provides the foundation for growth and development of a transition economy is being put to the test. To test the hypothesis, the paper compares the movement of economic growth indicators (gross domestic product) among the countries of South Eastern Europe with the primary focus on Bosnia and Herzegovina. By comparing the obtained results, as well as by applying the correlation and regression analysis, by means of simple linear regression, it is proven that the currency board does not represent an obstacle to economic growth, but is the basis for establishing the stability of the economy and the basis for sustainable growth and development able to adequately respond to shocks.

How Perception-Based Decisions can Negatively Shape your Leadership Performance (Decision-Making and Behavior)

In the present day, one of the most subtle means political leaders use to influence their base of supporters is through verbal communication. With this in mind, research shows that over the past two years, some political leaders have increasingly relied on “transferring their perception onto their base of followers, which often negatively stimulates, arouses and shapes an individual’s performance” (decision-making and behavior). In addition, to the detriment of our society, when political leaders transfer their perception onto their base of followers, they often misjudge the sensitive consequences of their prospective outcomes. Here for the first time, research now shows that a displaced thought process is attributed to the underlying stimulation used to arouse the transfer of one’s perception onto others. Therefore, because the “Dangerous behavior” following the transfer of one’s perception has become so prevalent in our society, such performance warrants immediate exploration.

Content and Language Integrated Learning Methodology in Optional Humanities Courses for First-Year University Students: A Case Study

The article analyzes using Content and Language Integrated Learning (CLIL) for teaching one of the optional humanities disciplines to Ukrainian university students of different majors. The discipline discussed in the article as an example of using CLIL methodology is “The Fundamentals of Psychology and Pedagogy” and it is in the list of optional humanities subjects for the first-year students of Alfred Nobel University in Dnipro, Ukraine. However, unlike the other optional humanities disciplines, the methodology underlying this course is based on teaching the subject in English, instead of Ukrainian, following the CLIL approach widely used in the European education but still little known in Ukraine. The purpose of the paper is to expose and analyze the original methodology developed that conditioned the specific structure of the relevant course, and the specific learning activities used in it. The essence of the developed CLIL theory-based methodology and its practical application are manifested through learning activities that include students’ mini-lectures/workshop-type presentations, brainstorming, case-studies, discussions, and a learning project with its results summarized in students’ essays, abstracts, and summaries written in English. The students collect the information required for completing their tasks not only from the teacher’s lectures and the recommended literature but also (and mostly) by way of doing extensive Internet-search on psychological and pedagogical sites in English. All this makes CLIL in the case under discussion experiential-interactive (through personal experience in extra-linguistic subject-related activities gained in interaction with other students), blended (with the organic combination of traditional in-class learning and out-of-class online information search), autonomous (students’ autonomous learning activities-centered), and cooperative (with those activities being done in students’ cooperative interaction). As the result, students mostly self-construct their knowledge of the discipline by way of using the target language as the tool for such self-construction. This makes the elaborated course a clear-cut case of constructivism in CLIL pedagogy. Subject Classification Numbers: PACS 01.40.-d (Education)

Social Context of Solid Waste Disposal among Residents of Ibadan Metropolis, Nigeria

The study sought to assess the social context of solid waste disposal pattern of residents in Ibadan metropolis, in order to assess the Solid waste disposal patterns of people in Ibadan metropolis, Oyo State, Nigeria. Specifically, the study identified solid waste disposal habits of residents, frequency of clearing the dumpsters, accessibility of waste dumpsters to people determines the waste disposal pattern of people; and analyze the willingness of people in Ibadan to pay for improved service. Solid waste management has been part of human activities right from time. Efforts by Oyo State Government is seen in the collection of dirt that have been placed on the medians. Waste generation is an unavoidable product of man activities, however, sustainable management of such waste is a challenge faced in many countries today. Nigeria, a developing country in Africa, has been in a quandary of how to efficiently manage the municipal solid waste its population generates. Many states in the country lack adequate plans and infrastructure required for efficient and sustainable management of municipal solid waste. For Ibadan, the largest city in Nigeria, the problem is further compounded by its rather large and still increasing population. In this research, Ibadan metropolis is taken as a case study; the rate of solid waste handling in households as regards solid waste management from household collection to final disposal are focused upon. The study found out that 45.6% drop their refuse in the dumpsters as 18.8% burns their refuse, 17.7% of the respondents drops their waste on the median, 12% in the drainage while 6% opts to drop their waste in the streams. On the effectiveness of the Private operators collecting waste from the respondents, the study found out that 7.6% effective, 37.5% of the respondents says the operators waste collection is poor, 7% says it is abysmal while 43.5% said it is not applicable to them because they do not have storage containers in their houses and as a result did not subscribe to their service. Many countries, particularly the developed ones, have employed options in the waste management hierarchy for sustainable management of their municipal solid waste and the blend of options employed is usually highly dependent on local factors. Following the waste management hierarchy, possible options for sustainable municipal solid waste management in Ibadan are discussed. It is concluded that waste reduction, reuse, and recycling are potential management options for the state. Landfilling will remain an important option for final disposal but reliance on this method could be significantly reduced if management options are exploited to the maximum in a sustainable solid waste management structure in Ibadan metropolis. Key Words: Waste handling, Ibadan Metropolis, Landfill, Municipal Solid Waste Word Count: 435

Politics, Political Parties and the Party System in Nigeria: Who's Interest?

Party system and the administration of political parties are critical factors in determining the direction of politics and democracy. Three political parties contested at the inception of Nigeria’s Fourth Republic in 1999, but the number increased to more than 91 as at 2019. This paper raises fundamental questions as to whose interest – public or private interest of promoters and financiers - these parties serve, and whether the increase in the number of political parties has significantly entrenched democratic values in the country? These questions are compelling because of several events in political party operations in the 20 years of the Fourth Republic. These include controversial and vexatious party primaries preceding every major election, often leading to protracted and distractive litigations and rampant political defections. Unregulated use of money has, in particular, restrained ample participation by women and youths, while violence is almost becoming a norm and permanent characteristic of the electoral and political system. The paper draws data from secondary documentary sources for its conceptual and theoretical contents. Primary data are generated from events analyses by the authors as observers at party conventions and other meetings for the selection of candidates for political offices as well as during general elections. This is complimented by content analyses of relevant documents including electoral laws, court and law reports, and reports by special committees such as the Electoral Reform Committee (ERC). A combination of the ecological approach and conspiratorial theory is deployed for the paper’s analytic frame.

Implication of Brown Envelope Syndrome on Hate Speech and Fake News in Nigerian Media

This study discusses brown envelope syndrome as it is used to promote hate speech and fake news with negative effect on the practice of journalism in Nigeria. Various reasons were advanced from the study why the menace of brown envelope syndrome on hate speech and fake news persists and solutions to it were also explored. Two theories were used in putting the study in proper perspectives. The theories are Agenda Setting and Dependency Theory. The two theories recognize the role of mass media in mobilizing, educating and entertaining the public on vital, social economic and political issues. The study recognizes the role of journalists in promoting hate speech and fake news in order to advance the interest of certain political class. Hate speech and fake news consists of lies and vulgar languages against a particular section of the society. The study found out that journalists use both print and electronic media to spread fake news and hate speech which however has significant effect on the political development of the country. The study recognizes that poor remuneration, inadequate training, job insecurity as well as general economic down turn in Nigeria have been responsible for brown envelope syndrome. Media researchers are of the opinion that proprietors of media houses, and the government should take the welfare of journalists’ very important if journalistic code of ethics and practice would be applied on any erring journalist. The study recommends regular training and staff motivation as necessary for eradicating the menace of brown envelope syndrome, fake news and hate speech among practicing journalists in Nigeria. Appropriate legislation must be put in place by the legislatures to discourage hate speech and fake news in the country. Erring journalist(s) and the media house(s) he or she represents must be sanctioned accordingly to serve as deterrent to others.

Passion and Reason in Charlotte Brontë’s Jane Eyre and Irigarayan Feminine Divine

This paper examines Charlotte Brontë’s masterpiece Jane Eyre (1848) through Irigaray’s notion of feminine divine in order to argue how Charlotte Brontë’s main characters achieve their autonomous gendered identity by expressing their erotic desire. It discusses the resistance of Charlotte Brontë’s female protagonist, Jane Eyre, to the dichotomies of active subject/passive object, self/other, body/mind, passion/intellect, and the domination/submission through her ethical and intersubjective relationship with Rochester, her counterpart, rather than being an object of his desire. It is argued how Jane challenges these dualities of patriarchal society and the logic of the same by expressing her erotic nature. Where the patriarchal society tries to confine women in the patriarchal culture, Brontë develops Jane within and against those confines and allows her to experience her female desire by exploring the internal and external nature. Jane’s liberation from the dualities can be read through the lens of Irigaray’s feminine divine which focuses on women’s autonomous gendered identity and creates a balance between their passion and reason. Charlotte Brontë indicates how women are able to achieve individuality, social standing, and subjective identity by expressing their female desire.

The Effectiveness of Emotion Regulatory Training on Test Anger and Processing Efficiency in High School Girl Students

Emotional order, expresses the psychological and behavioral processes in which individuals affect their feelings and others. The Purpose of this study is determining effect of emotion regulation training on the test anxiety and processing efficiency among high school girls' students. A quasi-experimental design was selected to run this study and anxiety questionnaire developed by spilberger was used to collect data. The population of this study was the whole girls' students of Varzeghan high school. 44 samples were selected through multiple stage cluster sampling and assigned to two groups of experimental and control group. After the pretest, the participants in experimental group were given emotion regulation training based on gross model for one hour in 8 sessions. The control group did not receive any training in all these session. And there was no intervention. After the sessions, these groups were evaluated once again. MANOVA was used to analyze the data. Furthermore meaningful level is considered in all of the analyze (p<0/05) for this research. Data analyzes showed that emotion regulation was effective for test anxiety and processing efficiency. Emotion regulation skills can be offered to students for enabling them to manage their anxiety at school.