July 2013

Electricity consumption and gross domestic product in an electricity community: Evidence from bound testing cointegration and Granger-causality tests

  This study probes the nexus between electricity consumption and gross domestic product (GDP) for the electricity community of Togo and Benin using ARDL bounds testing approach of cointegration. Long-run equilibrium has been established among these variables for Benin. The study further establishes long and short-run Granger causality running from GDP to electricity consumption for Benin and short-run Granger...

Author(s):   Alastaire Sèna Alinsato  

July 2013

Corporate disclosure, transparency and firms’ cash holdings: Evidence from the Emerging capital market of Ghana

  The paper documents the monitoring effect of corporate disclosure and transparency on cash holdings on the Ghana Stock Exchange (GSE). The paper employs the Fama and French (1998) valuation model by relating firm level variables to firm value with panel data covering a period from 2002 to 2007 for 23 firms. It builds further on the agency theory and its relevance to emerging markets. We find that the...

Author(s):   Godfred A. Bokpin  

July 2013

China-US interest in Africa: The implications for peace and development

  Apart from the China-US relations, one of the most important bilateral relations that have attracted the attention of analysts in the field of international relations today is the triangular Africa-China-US trilateral engagements. Scholars, practitioners, business community and citizens from the three sides could in one way or the other express their own anxieties, with some imaginary conclusion about the...

Author(s):   Odey, Acha Francis, Eneji Mathias Agri , and Shi Li Rong  

July 2013

High credit rating IPOs and determinants of underpricing

  In this paper, we declare that such objective, autonomous and exogenous certifying mechanism provides a better opportunity to test the well-established credit rating hypothesis, especially in the context of emerging markets with institutional voids. Employing a sample of 142 Indian IPOs (January 2007 to December 2012), we also experiment Ex-ante uncertainty with the efficacy of IPO (Initial Public Offerings)...

Author(s):   Rohit Bansal and Ashu Khanna  

July 2013

Tenant eviction in property management practice in Ilorin Metropolis, Nigeria

  This paper examines the causes and methods of tenant eviction in property management practice in Ilorin metropolis, Nigeria with a view to suggesting measures aimed at reducing its incidence. The 16 registered estate surveyors and valuers in the study area were surveyed with a structured questionnaire. Data collected were analysed using descriptive statistics. The study’s result revealed that rent...

Author(s):   Ibrahim Tajudeen Akogun and Olatoye Ojo  

July 2013

Public expenditure and economic growth nexus: Further evidence from Nigeria

This paper examines the relationship between public expenditure and economic growth in Nigeria during the period 1970-2009. A disaggregated public expenditure level was employed using the Gregory-Hansen structural breaks cointegration technique. The result confirms Wagner’s law in two models in the long run; there was a break in 1993 in which the political crisis that engulfed the nation was accountable. The...

Author(s):   Mutiu Abimbola Oyinlola and Olusijibomi Akinnibosun