Finance and Financial Management Commons^™

Conceptual Issues On Savings In Nigeria., A. J. Adam, A. V. Agba

Bullion

It is often held that capital accumulation is necessary and sufficient condition for growth and capital accumulation is almost synonymous with saving, hence the route to growth is then one of raising savings and smoothing consumption (Deaton, 1991). Savings is one of the key relevant macroeconomic variables in any economy. Its impact on the rate of capital accumulation, productivity and the degree of dependency of a nation on foreign capital and foreign ownership of domestic assets cannot be overemphasised. This paper reviews conceptual issues on savings behaviour in Nigeria. It also provided an analysis of the factors that may have …

The Determinants Of Executive Compensation In The Commercial Banking Industry, David A. Romer

Doctoral Dissertations

The primary purpose of this study is to examine the viability of two basic theories of compensation to explain executive compensation in the banking industry. The two executive compensation motivation theories are sales/sales growth maximization and profit/shareholder wealth maximization. Overall, strong support is found for both theories. This research also seeks to significantly expand, compared to previous research, the number of banks investigated. This study succeeds, with over a four-fold increase in the number of banks analyzed, including over 330 banks not previously used in the literature. This investigation is further motivated by the paucity of banking studies on compensation …

Three Essays On Banking And Corporate Finance, Fang Zhao

Doctoral Dissertations

This dissertation is composed of three essays on banking and corporate finance. The first essay studies the relationship between interest-rate derivative usage and bank lending. Using recent data that cover a full business cycle, this paper documents a direct relationship between interest-rate derivative usage by U.S. banks and growth in their commercial and industrial (C&I) loan portfolios. This positive association holds for interest-rate options contracts, forward contracts, and futures contracts. This result is consistent with the implication of Diamond's model (1984) that predicts that a bank's use of derivatives permits better management of systematic risk exposure, thereby lowering the cost …

The Dynamics Of Market Entry: The Effects Of Mergers And Acquisitions On Entry In The Banking Industry, Allen N. Berger, Seth D. Bonime, Lawrence G. Goldberg, Lawrence J. White

Faculty Publications

We study the dynamics of market entry following mergers and acquisitions (M&As) using banking industry data. The findings suggest that M&As are associated with statistically and economically significant increases in the probability of entry. The data suggest that M&As affect the proportion of the markets with entry by about 10-20%. These findings also suggest that entry may be part of an "external" effect of M&As that helps supply credit to some relationship-dependent small business borrowers. Our results are robust to the use of alternative econometric methods, changes in specifications of the exogenous variables, and alteration of the data samples.

Impact: What Influences Finance Research?, Tom Arnold, Alexander W. Butler, Timothy Falcon Crack, Ayca Altintig

Business Faculty Articles and Research

Which journal articles have had the most impact on finance research? Which journals dominated finance research in the 1990s? We answer these and similar questions using a comprehensive sample of journals, an extensive time period, and a new ranking method that avoids problems inherent in the existing literature. Among our findings: six of the 10 articles most highly cited by finance journals were published in econometrics or economics journals; Journal of Finance has the most citations, but it accounts for only one of the top 10 articles; and Journal of Financial Economics has the highest impact per article.

Banking On Sbi : Interview With Dipankar Basu, Ashok Thampy, Vivek Moorthy

IIMB Management Review

No abstract provided.

Going Places : Atm Services In India, Sanjiv Kumar Bhatia

IIMB Management Review

Post-liberalisation banking sector reforms brought in a new era of competition, forcing banks to look for different ways of competing. ATM (automated teller machine) services helped banks increase their reach and improve customer responsiveness and also provided them with opportunities to open new streams of revenues. However, regulatory bindings, such as the control on the number of ATMs that can be deployed by the public sector banks, and tariff issues like high custom duty on ATM hardware, made this option unviable and constrained the growth of ATMs in the country in last decade.

Returns On Bank Deposits In Latin America, (Is There A Free Lunch?), Robert Grosse, Evan Tanner, Roberto Roberto Curci

Scholarship and Professional Work - Business

No abstract provided.

Credit And Banking: What Every Small Entrepreneur (And Banker) Must Know By K C Nanda, Response Books, New Delhi, 1999, Pp 289, P Rice: Rs 395 (Cloth) Rs 225 (Paper)., M S Sriram

IIMB Management Review

There have been some very interesting books in the recent past on the small industry. With competition increasing and protection for various sectors being selectively removed, it is time that we looked at some sectors which have been accorded protection in the past - like co-operatives and small industries- and see how they have been performing. It is also important for us to get some insights into recent research and practice in these sectors. In this
context, K C Nanda's book raises our level of expectation. However as one reads through the pages and pages of casual conclusions and off-the-cuff …

Central Bank Of Nigeria Statistical Bulletin, December 1997, Central Bank Of Nigeria

CBN Statistical Bulletin

Financial data is compiled from documents like balance sheets and financial statements, which are designed for legal and administrative purposes rather than economic analysis. The Financial Statistics Office compiles the analytical CBN balance sheet without major reclassifications or rearrangements. However, due to problems with imprecise definitions, improper classification, inadequate sectorization, inaccuracies, irregular valuation procedures, and errors in data compilation, major revisions were made. The Computer Services Department generates summary and detailed analytical balance sheets based on the end-month BANKOS 302 of the CBN, Lagos branch. The consolidation of accounts of monetary authorities and deposit money banks produces monetary survey accounts. …

Central Bank Of Nigeria Statistical Bulletin June 1997, Central Bank Of Nigeria

CBN Statistical Bulletin

Financial data is compiled from financial statements and balance sheets, which are designed to meet legal and administrative requirements rather than economic analysis needs. The Finance and Accounts Department prepares the CBN accounting balance sheet data for the Research Department to compile the CBN analytical accounts. However, major revisions were made due to imprecise definitions, improper classification, inadequate sectorization, inaccuracies, irregular valuation procedures, and errors in data compilation on foreign assets. The Computer Services Department uses high-level computing to generate both summary and detailed analytical balance sheets based on the end-month BANKOS 302 of the CBN, Lagos branch. The consolidation …

The Pricing Behaviors Of Stock Index Futures: Some Preliminary Evidence In The Korean Market, Jaehoon Min

Theses and Dissertations in Business Administration

This research examines the pricing behaviors of futures contract in the Korean market in its early inception period. This research is mainly organized into three parts. The first chapter investigates the mispricing of futures contract relative to its theoretical value. Consistent with earlier studies regarding futures markets in other countries, futures have been persistently underpriced in the Korean market. Even after accounting for 10 minute execution lag in the arbitrage trading, arbitrage opportunities have been largely unexploited. Market inertia caused by institutional investors' unfamiliarity is presumed to be largely responsible for underpricing of futures. Unfavorable spot market condition also hinders …

Central Bank Of Nigeria Statistical Bulletin, December 1996, Central Bank Of Nigeria

CBN Statistical Bulletin

Financial data is compiled from documents like balance sheets and financial statements to meet legal and administrative requirements, rather than economic analysis. The Finance and Accounts Department prepares the CBN accounting balance sheet data for the Research Department, while the Financial Statistics Office compiles the analytical CBN balance sheet. Monetary authorities and deposit money banks consolidate accounts to produce monetary survey accounts. Monthly interest rate returns compute weighted average lending and deposit interest rates, and deposit rates are computed for various maturities. Clearing house statistics show the number and value of cheques cleared within the commercial banking system, reflecting the …

Central Bank Of Nigeria Statistical Bulletin, June 1996, Central Bank Of Nigeria

CBN Statistical Bulletin

Financial data is compiled from documents like balance sheets and financial statements, which are primarily designed for legal and administrative purposes. The Finance and Accounts Department uses Bloomberg sources to prepare CBN accounting balance sheet data for the Research Department to compile analytical accounts. The Financial Statistics Office compiles the analytical CBN balance sheet without reclassifications or rearrangements of available accounting data. The consolidation of accounts of monetary authorities and deposit money banks produces monetary survey accounts. Monthly interest rate returns are used to compute weighted average lending and deposit interest rates. Deposit rates are computed for various maturities. Clearing …

Indian Banks & It - Quo Vadis?, S Jagadish

IIMB Management Review

No abstract provided.

Volatility Risk Premiums In Futures Markets: Investment Prices And Commercial Bank Performance, Richard P. Gregory

Theses and Dissertations in Business Administration

This dissertation is an in depth study of the measurement of pricing biases in futures options, and whether this bias is due to volatility risk premia, market overreaction to public information or information asymmetry. Futures options for thirteen different contracts are used. Additionally, the contracts are from three different marketplaces.

Six hypotheses are tested. The first is whether implied option volatilities from the Black (1976) futures option model is the only significant determinant of the volatility processes of the underlying futures contracts. For this estimation, we use both a GARCH (1,1) model and the Partially Non-parametric model of Engle and …

Gearing Up For Competition New Challenges For Indian Banks, J V Shetty

IIMB Management Review

Influenced by the economic reforms programme, banking in India is witnessing a shift away from meeting social priorities to confronting market forces. This has led to its improved performance during the last two years, generating considerable optimism that the country will eventually be blessed with a sound, streamlined and competitive banking system that would help it successfully meet the challenges of the global marketplace.

Effect Of Regulation On Banking: California 1879-1929, Lynne Doti, Richard Runyon

Economics Faculty Articles and Research

California had a virtually unregulated banking environment until the first comprehensive banking regulations were passed in 1905. These regulations, and subsequent changes in 1909, required reserves and paid-up capital. Several tests of commonly accepted measures of safety, such as bank reserves, paid-up capital, bank failures, and real estate loans that resulted in foreclosure, are compared for selected years before and after the regulations. Results do not clearly demonstrate that regulation enhanced the safety of individual banks, but do support the conclusion that regulation enhanced the safety of the banking system as a whole.

Central Bank Of Nigeria Statistical Bulletin, December 1995, Central Bank Of Nigeria

CBN Statistical Bulletin

Financial data is compiled from balance sheets and financial statements, which are primarily designed for legal and administrative purposes rather than economic analysis. The Finance and Accounts Department prepares the CBN accounting balance sheet data for the Research Department, using the monthly return of Assets and Liabilities and the summary trial balance as benchmarks. The Financial Statistics Office compiles the analytical CBN balance sheet without major reclassifications or rearrangements. The consolidation of accounts of monetary authorities and deposit money banks produces monetary survey accounts. Deposit money banks are highly prone to volatility and fragility, making them subject to regulations and …

Central Bank Of Nigeria Statistical Bulletin, June 1991, Central Bank Of Nigeria

CBN Statistical Bulletin

The financial statistics section offers comprehensive data on various financial subsectors, including money and banking, financial markets, non-bank financial institutions, and public finance statistics. Key areas covered include data consolidation of commercial and merchant banks, liquidity ratios, cash reserves, loan/deposit ratios, and credit distribution. Clearing house statistics provide information on volume of transactions within the commercial banking system and the number and value of cheques cleared. Financial markets provide information on new issues, treasury securities, money market assets, Nigerian Stock Exchange (NSE) transactions, and government debt instruments. Public finance statistics include federal government revenue and expenditure, sources such as oil, …

Developments In The Banking Sector During The Second Quarter Of 1984, Central Bank Of Nigeria Cbn

Economic and Financial Review

The paper discusses the developments in the Nigeria banking sector during the second quarter of 1984. The downward movement in money supply (M1) observed during the first quarter of 1984 and the factors responsible mainly for the contraction of M1.

The Structure And Functions Of The Federal Reserve System Of The United States Today, William Law Goode

College Books

An overview of the history of the Federal Reserve system from its creation in 1913 to the late 1930s, and a description of its structure as of the late 1930s.