Edith O. Nwosu, Collins C. Ajibo, Uchechukwu Nwoke and Ikenna Okoli
The purpose of the paper is to explore the legal and institutional frameworks for optimal regulation of capital market beyond compliance-based regulation, to enable the market to…
Abstract
Purpose
The purpose of the paper is to explore the legal and institutional frameworks for optimal regulation of capital market beyond compliance-based regulation, to enable the market to deliver on its strategic role as the enabler of efficient allocation of resources and economic growth.
Design/methodology/approach
The paper relies on doctrinal approach to assess the existing regulatory approaches and prospects for the future.
Findings
The paper found that the regulatory authorities unduly concentrate on compliance-based and sanction-based regimes without sufficient emphasis on innovations and transformative solutions that foster diversification and efficiency in the market. The paper also found that the deployment of innovations and transformative solutions complemented with robust regulation is positively correlated with capital market growth.
Originality/value
The paper offers fresh insights on the optimal approaches to regulation of capital market that transcend compliance-based and sanction-based regimes to reliance on innovative tools that expand, diversify and effectuate the functionality and utility of capital market.
Details
Keywords
Edith O. Nwosu, Uchechukwu Nwoke, Collins Chikodi Ajibo, Fochi Nwodo and Ikenna Okoli
This paper aims to analyze the importance and application of whistleblowing in the fight against fraud in Nigeria’s capital market.
Abstract
Purpose
This paper aims to analyze the importance and application of whistleblowing in the fight against fraud in Nigeria’s capital market.
Design/methodology/approach
Drawing from existing legislation and literature in the area, the paper (by adopting a doctrinal approach), analyzes the application of whistleblowing in the Nigerian capital market.
Findings
As a result of an inadequate legislative framework (a structure consisting mainly of mere policy directives and voluntary codes), whistleblowing is seldom used in Nigeria’s capital market.
Originality/value
This paper extends the body of knowledge in the area of whistleblowing in Nigeria’s capital market by not only identifying the non-utilization of the concept but also offers creative suggestions, which will help it is to normalize as a regulatory tool for reducing fraud in this sector.
Details
Keywords
Ibukun Oluwadara Famakin, Dorcas Titilayo Moyanga and Ajoke Aminat Agboola
Although the overall impacts of innovation and innovative practices have been emphasized in recent years, the effect on the growth of firms in Nigeria have not been proven…
Abstract
Purpose
Although the overall impacts of innovation and innovative practices have been emphasized in recent years, the effect on the growth of firms in Nigeria have not been proven. Therefore, this study aims to investigate the effect of innovative practices on the growth of quantity surveying firms (QSFs) in Nigeria.
Design/methodology/approach
The study adopted the quantitative correlational research design in which a well-structured questionnaire was used to collect data from QSFs in South-West, Nigeria. The data were analyzed using descriptive statistics and multiple regression analysis to investigate the effect of innovative practices on the growth of QSFs.
Findings
The study reveals that there is a significant increase in the growth indices used for assessing QSFs, while all the innovation variables were found to be reliable. Based on the result of multiple regression analysis, the relationships were identified as follows: quantity surveying (QS) software influenced the size growth of QSFs; QS software and services affected client growth and profit growth; and all innovation practices impacted asset growth of QSFs.
Practical implications
Although the use of software tools has been found to negatively affect the size of QSFs and other growth indices, there is need for them to embrace innovative software applications for more quality service delivery. In addition, QSFs should formulate strategic objectives that will guide them in taking informed decisions for diversification.
Originality/value
The outcome of this study provides information and direction for innovation practices required to bring about the growth of QSFs.