Legal and institutional frameworks for capital market regulation in Nigeria: recasting the agendas beyond compliance-based regulation

Nwosu, Edith O.; Ajibo, Collins C.; Nwoke, Uchechukwu; Okoli, Ikenna

doi:10.1108/jfc-07-2020-0142

Cited by 3 publications

(1 citation statement)

References 8 publications

(7 reference statements)

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“…The performance of financial institutions relies heavily on the quality of the regulations and supervision provided by certain government agencies assigned to these responsibilities (Augustine et al, 2018). The regulation and supervision of the Nigerian stock and insurance markets are crucial for ensuring the protection of investors' interests and maintaining the integrity of the financial system (Nwosu et al, 2021).…”

Section: Introductionmentioning

confidence: 99%

Impact of Strategy Implementation on Performance in Nigerian Stock and Insurance Markets: A Regulator and Supervisor Perspective

Onyegbula,

Nwoye

2023

J. Professional Business Review

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Purpose: The purpose of this research was to analyze how strategy implementation affects the performance of regulators and supervisors in the Nigerian stock and insurance markets. The specific goals were centered around exploring the relationship between strategic alignment, resource availability, organizational structure, and performance within the designated study area. Theoretical framework: The study centers on the RBV Model as the theoretical framework. Design/Methodology/Approach: Employing a descriptive research design, primary data was gathered from 145 carefully selected staff members of the Securities and Exchange Commission (SEC) and the National Insurance Commission (NAICOM). Findings: The results of the ordinary least squares (OLS) regression revealed that strategic alignment, resource availability, and organizational structure were positive, and significantly influence organizational performance at 5% level of significance. Practical implications: This implies that collaborative efforts can enhance the effectiveness of the regulatory approach and foster a conducive and well-functioning financial market environment. In conclusion, this research demonstrates that strategic alignment, resource availability, and organizational structure are pivotal factors influencing the performance of regulatory institutions in Nigerian stock and insurance markets. By addressing these factors, policymakers and regulators can enhance the overall stability and efficiency of the financial system, benefiting both investors and the broader economy. Original/Value: This study makes a significant contribution to knowledge by examining the relationship between strategy implementation and performance in the Nigerian stock and insurance markets from the perspective of regulators and supervisors. By shedding light on the identified factors and their impact on performance, the research provides valuable insights for both market participants and regulatory bodies, offering a basis for informed decision-making and potential policy interventions to enhance the overall performance and stability of these financial sectors in Nigeria.

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Section: Introductionmentioning

confidence: 99%

Impact of Strategy Implementation on Performance in Nigerian Stock and Insurance Markets: A Regulator and Supervisor Perspective

Onyegbula,

Nwoye

2023

J. Professional Business Review

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Do Multi-Market Institutions and Renewable Energy Matter for Sustainable Development: A Panel Data Investigation

Ahmad

Jawadi²,

Azam³

2022

Comput Econ

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This paper measures the impact of multi-market institutions, renewable energy consumption, and infrastructure on sustainable development in 76 selected countries over the period 2000–2015. To this end, we applied a dynamic Ordinary Least Square method with fixed effects, which has the advantage of further addressing cross-section heterogeneity in the sample. Our findings contribute two significant findings to the literature. First, we point to the importance of multi-market institutions in driving sustainable development. Second, we find that renewable energy, economic and social infrastructure can boost sustainable development, while financial infrastructure has a reverse effect. This finding is useful to target the most effective drivers for sustainable development.

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Impact of Board Committee Characteristics on Social Sustainability Reporting in Sub-Saharan Africa: The Moderating Role of Institutional Ownership

Blay,

Hoeyi,

Badu

et al. 2024

JRFM

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The corporate strategic planning of businesses in sub-Saharan Africa (SSA) largely focuses on immediate financial performance with minimal credence to social sustainability. Thus, studies on the linkage between corporate governance (CG) and sustainability reporting have focused on developed economies. This study therefore investigated the role of institutional ownership in the impact of board committee characteristics on social sustainability reporting. This study involved strongly balanced panel data with 1969 observations of 275 publicly listed non-financial firms in SSA within the timeframe of 2012 to 2021. Data were analyzed using STATA 14.1. The hypotheses were tested using the two-step system of the generalized method of moment (GMM) using the Arellano–Bond dynamic panel data estimation method. The rate of social sustainability reporting was 39.4%. Relatively, Mauritian and South African firms had the most effective board committee characteristics and higher levels of social sustainability reporting. Although institutional ownership had no significant effect on social sustainability reporting, it moderated the effect of sustainability committee independence and sustainability committee gender diversity on social sustainability reporting. This paper presents a new perspective on the corporate governance and social sustainability literature by examining the effect of institutional ownership on board committee characteristics and social sustainability reporting in SSA. In terms of policy implication, there is the need for mandatory regulatory and legal CG framework that is regularly updated at national and regional levels in SSA to motivate listed firms to establish sustainability committees with efficient characteristics to promote social sustainability reporting.

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Legal and institutional frameworks for capital market regulation in Nigeria: recasting the agendas beyond compliance-based regulation

Cited by 3 publications

References 8 publications

Impact of Strategy Implementation on Performance in Nigerian Stock and Insurance Markets: A Regulator and Supervisor Perspective

Impact of Strategy Implementation on Performance in Nigerian Stock and Insurance Markets: A Regulator and Supervisor Perspective

Do Multi-Market Institutions and Renewable Energy Matter for Sustainable Development: A Panel Data Investigation

Impact of Board Committee Characteristics on Social Sustainability Reporting in Sub-Saharan Africa: The Moderating Role of Institutional Ownership

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