Browsing by Author "Okpamen, Peter Ehizokhale"

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    BOARD DIRECTOR REPUTATION CAPITAL AND FINANCIAL PERFORMANCE OF LISTED FIRMS IN NIGERIA
    (INSIGHTS INTO REGIONAL DEVELOPMENT, 2020-12-30) Okpamen, Peter Ehizokhale; Ogbeide, Sunday Oseiweh
    This study examined the impact of board director reputation capital on financial performance of listed firms in Nigeria. The population of the study consists of all the listed non- financial firms in Nigeria. A sample of fifty (50) firms was selected and data were collected over the period 2007 to 2018. Descriptive statistics and system general method of moment estimation methods were used to undertake the data analysis. Findings reveal that board director reputational capital exerted a positive and significant impact on financial performance of the firms. Board size and firm size were negative on firm financial performance in the reference period. The study concludes that board reputational capital is a significant driver of corporate financial performance in Nigeria irrespective of the size of the board. Based on the empirical findings, it is recommended that there is need for regulators to design a framework to efficiently and effectively monitor the reputation of executive board directors and managers in firms. This will assist to check mate agency costs, demonstration of opportunistic behavior capable of destroying the firm value, There is need for firms to encourage adequate interlocking members who have diverse professional training, high social net worth and experience (experience hypothesis) to positively influence effective management and financial performance of listed firms in Nigeria.
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    Cumulative Prospect Theory and Radner Theory: A Critical Assessment from Nigeria
    (Asian Journal of Economics, Business and Accounting, 2020-12-15) Ogbeide, Sunday Oseiweh; Okpamen, Peter Ehizokhale
    Aims: This study undertook a critical comparative assessment of cumulative prospect theory and Radner theory. The aim is to examine investors’ behavior in the financial market using these theories. The specific objectives of the study were to examine if there are similarities between the cumulative prospect theory and Radner theory; ascertain the implications of the cumulative prospect theory to financial market; find out the implications of the Radner theory to financial market; and assess the drawbacks of the cumulative prospect a’’nd Radner theories. Methodology: The study used the desk top library research approach’’ to survey relevant extant literatures on investors’ behaviour in relation to cumulative prospect theory and Radner’’ theory in a comparative manner. Results: Findings indicate that investors’ behaviour in investment/consu’’mption decision making is predicated on attitude to risk/uncertainty. They prefer higher return to lower risk; higher ‘’satisfaction from commitment of wealth to asset bundle under condition of general equilibrium. These behavioural dispositions have been observed and addressed in the cumulative prospect theory and Radner theory. The finding of this study is that the cumulative prospect and Radner theories serve as the barometers with which investors’ direction of investments are constantly monitored in the stock market globally. Recommendation: This study therefore recommends that financial analysts and market participants should frequently combine the rudiments of the traditional finance and behavioural finance in analyzing investments as well as observing reactions of myriad competing investors, particularly in perfect markets or in incomplete markets.