EFFECTS OF TREASURY SINGLE ACCOUNT IMPLEMENTATION ANNOUNCEMENT ON SHARE PRICES OF LISTED DEPOSIT MONEY BANKS IN NIGERIA

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dc.contributor.authorIBRAHIM, Lawal
dc.date.accessioned2019-05-30T09:16:37Z
dc.date.available2019-05-30T09:16:37Z
dc.date.issued2018-09
dc.descriptionA THESIS SUBMITTED TO THE SCHOOL OF POSTGRADUATE STUDIES, AHMADU BELLO UNIVERSITY, ZARIA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTER OF SCIENCE DEGREE (M.Sc.) IN ACCOUNTING AND FINANCEen_US
dc.description.abstractThis study empirically examines the impact of Treasury Single Account (TSA) implementation announcement of the 9th August 2015 on share prices of Deposit Money Banks (DMBs) in Nigeria. Employing the standard event study methodology on a sample of thirteen out of the sixteen listed DMBs in the Nigerian Stock Exchange that traded on the 9th August 2015; the study was conducted to establish the significance of the TSA implementation announcement on DMBs share prices‟ cumulative abnormal return on the announcement day,fifteen trading days before the announcementand fifteen trading days after the announcement became public. The study documents a statistically significant cumulative abnormal return of -0.46 before the announcement day, -0.45 0n the announcement day and -0.37on the fifteen trading days after the announcement become public. The study concluded that the TSA implementation announcement led to negative market reaction by investors of DMBs in Nigeria and the negative trend continued for fifteen trading days succeeding the announcement day. It was recommended thatDeposit Money Banks (DMBs) should focus more on their core banking businesses of deposit mobilisation from the private individuals and enterprises rather than depending on government agencies deposit. Also, DMBs should devise new strategies such as increase deposit interest rate and reducing lending rate; as this would entice private enterprises to willingly deposit their money with the banks and would assist in improving their cash balances and intermediation activitiesen_US
dc.identifier.urihttp://hdl.handle.net/123456789/11675
dc.language.isoenen_US
dc.subjectEFFECTS,en_US
dc.subjectTREASURY SINGLE ACCOUNT,en_US
dc.subjectIMPLEMENTATION ANNOUNCEMENT,en_US
dc.subjectSHARE PRICES,en_US
dc.subjectLISTED DEPOSIT MONEY BANKS,en_US
dc.subjectNIGERIAen_US
dc.titleEFFECTS OF TREASURY SINGLE ACCOUNT IMPLEMENTATION ANNOUNCEMENT ON SHARE PRICES OF LISTED DEPOSIT MONEY BANKS IN NIGERIAen_US
dc.typeThesisen_US
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