Nigerian Journal of Banking and Financial Issues (NJBFI)

ASSESSING THE EFFECT OF BOND INSURANCE ON THE DEVELOPMENT OF THE NIGERIAN CAPITAL MARKET

Authors

  • Dr.F. F. Olowokudejo Author
  • M.T. Oyerinde Author
  • Prof. M. A. Obalola Author
  • Joseph O. AJIBOLA Author
  • Yimka S. A. ALALADE Author
  • Samuel Bamidele AKINRIN Author
  • Adegoke, T. D Author
  • Ogiamien, O. F. Author
  • Olajide, D. S. Author
  • Prof., C.O Olaoye Author
  • Dr. (Mrs.) A. R Ayeni-Agbaje Author
  • Mr S A. Ogunleye Author
  • OKOLUGBO Chibogu Nicholas Author
  • ADETAYO Olufemi Hezekiah Author
  • ADEWOYIN Taiwo David Author
  • OLANIYAN Oluwasina Philip Author
  • FAKUA Ayomide Omolola Author
  • AGUGUOM Theophilus, Anaekenwa Author
  • ADEYEMI Olanrewaju Micheal Author
  • OLADELE Samuel Olumuyinwa Author
  • IBRAHIM Majeed Ajibola Author
  • DADA, Olawale Author
  • IBRAHIM Mubarak Mobolaji Author
  • ALHASSAN Muhammed Galadima Author
  • Dr. OLALERE, Sunday Shina Author
  • Dr. Talabi, Amos Olatunbosun Author
  • Dr. Adekanmbi, John Ayodele Author
  • Olorunfemi, Oladele Ebenezer Author
  • Dr. Talabi, Amos Olatunbosun Author
  • Adekanmbi, John Ayodele Author
  • Olorunfemi, Oladele Ebenezer Author
  • Ezekiel Jide, FAYOMI Author
  • Akinwumi Oluwagbenga, AKINGBADE Author
  • F. D. DARE Author
  • Kolapo Funso Tajudeen Author
  • Olajire Oluwaseun Andrew Author
  • Adeleye Simeon Kayode Author
  • Dr. Ezugwu, Christian Ikechukwu Author
  • Ariyo, Clement Olugbenga Author
  • Abayomi Olarewaju ADEOYE Author
  • Sunday Stephen AJEMUNIGBOHUN Author
  • Oloyede Raheem LAWAL Author
  • Ojo-Agbodu Ayodele Author
  • Yusuf Boyede Author
  • Adeyemi Babatunde Sulaiman Author
  • Dr. Aduloju, Sunday Adekunle Author
  • Osasona, Adedeji Viscker Author

Abstract

This research investigated the effect of bond insurance premiums on market capitalization in Nigeria using data gathered from the World Development Indicator, Global Financial Development Database, and the Central Bank of Nigeria statistical bulletin, from 2000 to 2023. The data were analyzed using the ARDL co-integration approach, and the results showed that, although only in the long run, bond insurance premiums had a positive effect on market capitalization in Nigeria, as did bond insurance claims. The result shows normality test statistics of 1.641757 (p > 0.05), LM test statistics of 0.2124238 (p > 0.05), heteroscedasticity test statistics of 0.241894 (p > 0.05) indicate that the assumption of normality, homoscedasticity and no serial autocorrelation are satisfied. Also, that bond insurance premiums and claims positively affect market capitalization, with a significant long-term impact of 0.93% and 1.89%, respectively. Finally, there was no causal relationship between bond insurance premiums and market capitalization in Nigeria. According to the study's findings, bond insurance significantly contributes to the expansion of Nigeria's capital market. As a result, financial sector regulators must encourage bond issuers to participate in bond insurance programs in order to increase market capitalization in the nation.

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Published

2024-10-31

Issue

Vol. 10 No. 2 (2024): Nigerian Journal of Banking and Financial Issues (NJBFI)

Section

Articles

How to Cite

Nigerian Journal of Banking and Financial Issues (NJBFI): ASSESSING THE EFFECT OF BOND INSURANCE ON THE DEVELOPMENT OF THE NIGERIAN CAPITAL MARKET. (2024). JOURNALS OF EKITI STATE UNIVERSITY, ADO EKITI, EKITI STATE, 10(2). https://eksujournal.eksu.edu.ng/ojs/index.php/njbfi/article/view/79

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