ACCOUNTABILITY IN PUBLIC INSTITUTIONS (A STUDY OF THE NIGERIAN STOCK EXCHANGE) MEANING AND NATURE OF ACCOUNTABILITY: Introduction: Incidents of a lack of accountability‚ often associated with an element of corruption‚ among public officials and institutions when rendering public services‚ is a worldwide occurrence. In an attempt to address this governance tendency‚ governments increasingly look towards more sophisticated managerial methods such as improved monitoring and evaluation systems‚ and
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returns to individuals for their surplus funds. The share market in Australia plays two key roles; it allows companies to sell shares to new investors and also shareholders to sell all of their security to a new owner. The Australian Stock Exchange (ASX) is the largest stock market in Australia whereby most transactions of shares and trade occur through here. Only listed companies are allowed to trade on the ASX‚ therefore allowing ASX to regulate the share market. This essay discusses how government
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EXECUTIVE SUMMARY Towards the fulfillment of project program‚ a study was conducted at Stock Holding Corporation of India Ltd.‚ Bangalore. The corporate exposure learning program involved in the study of Investors Perception on IPO’s and to analyze the selected IPO’s in the year 2006. Among various modes of raising fresh capital‚ the equity issue started gaining momentum in India during early 1980’s. It reached the peak during early 1990’s. Many companies made public issue during
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Treasury securities market. Goldman Sachs was founded in 1869 by Marcus Goldman. The company made a name for itself innovating the use of commercial paper for entrepreneurs and was invited to join the New York Stock Exchange (NYSE) in 1896. Shortly after joining the New York Stock Exchange Goldman’s son-in-law Samuel Sachs joined the firm which prompted the name change to Goldman Sachs. “Goldman Sachs played a huge part in establishing the Initial Public Offering market. It managed one of the largest
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Financial Markets and Institutions: Ghana’s Experience By Sam Mensah‚ Ph.D Presented at: The International Programme on Capital Markets and Portfolio Management Indian Institute of Management September 8-20‚ 1997 Abstract This paper reviews Ghana’s experience with the development of financial markets and institutions. The review uses a framework which reviews various stages of financial development against three basic attributes of an effective financial system: a monetary system‚ the
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monetary policy in an attempt to stimulate the economy. 3. Which of the following statements is CORRECT? a. If General Electric were to issue new stock this year it would be considered a secondary market transaction since the company already has stock outstanding. b. Capital market transactions only include preferred stock and common stock transactions. c. The distinguishing feature between spot markets versus futures markets transactions is the maturity of the investments. That is‚ spot
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roles in the economy growth of the market. A well functioning market insures that both corporation and investors get or receive fair prices for their securities. It examine the impact of capital market on the Nigeria economy and also examine how stock exchange market has contributed to the economic growth which aims at studying the second tier securities market. The secondary data employed for thi s research work were sourced from the statistical bulletin of the Central Bank of Nigeria (CBN) 2008
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are also discussed. Also empirical patterns are documented and analyzed. 1. Introduction An initial public offering (IPO) is a public offering where a company set and offers shares of stock to be sold to the general public. The initial offering is the first time the company offers stock on a security exchange. Through this process‚ privately controlled companies are transformed into publically traded companies. IPOs are utilized by corporations and companies to raise capital‚ to possibly monetize the
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public firms quickly developed as the number of companies increased. Merchants and traders bought and sold securities just like other commodities‚ and specialization soon flourished. Stock exchanges were developed to enhance liquidity‚ transaction settlement‚ and protect broker commissions. The New York Stock Exchange(NYSE) originated out of the famous Buttonwood Agreement of 1792‚ in which a group of 24 brokers agreed to exclusively trade amongst themselves and fix commissions at a minimum of 0.25%;
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III. The Nature of Financial Market T he money and capital markets are at the economic centre of the industrial and commercial world. Both firms and individuals rely upon the efficient operation of these markets for obtaining capital for investment purposes or money to meet their short-term financial needs. Over the last fifty years the operation of the money and capital markets has been progressively ‘globalised’ both to finance international trade but also to support multinational business
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