Search results for: Wakkai Hosanna Hussaini
17 The Effects of English Contractions on the Application of Syntactic Theories
Authors: Wakkai Hosanna Hussaini
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A formal structure of the English clause is composed of at least two elements – subject and verb, in structural grammar and at least one element – predicate, in systemic (functional) and generative grammars. Each of the elements can be represented by a word or group (of words). In modern English structure, very often speakers merge two words as one with the use of an apostrophe. Each of the two words can come from different elements or belong to the same element. In either case, result of the merger is called contraction. Although contractions constitute a part of modern English structure, they are considered informal in nature (more frequently used in spoken than written English) that is why they were initially viewed as constituting an evidence of language deterioration. To our knowledge, no formal syntactic theory yet has been particular on the contractions because of its deviation from the formal rules of syntax that seek to identify the elements that form a clause in English. The inconsistency between the formal rules and a contraction is established when two words representing two elements in a non-contraction are merged as one element to form a contraction. Thus the paper presents the various syntactic issues as effects arising from converting non-contracted to contracted forms. It categorizes English contractions and describes each category according to its syntactic relations (position and relationship) and morphological formation (form and content) as integral part of modern structure of English. This is a position paper as such the methodology is observational, descriptive and explanatory/analytical based on existing related literature. The inventory of English contractions contained in books on syntax forms the data from where specific examples are drawn. It is noted as conclusion that the existing syntactic theories were not originally established to account for English contractions. The paper, when published, will further expose the inadequacies of the existing syntactic theories by giving more reasons for the establishment of a more comprehensive syntactic theory for analyzing English clause/sentence structure involving contractions. The method used reveals the extent of the inadequacies in applying the three major syntactic theories: structural, systemic (functional) and generative, on the English contractions. Although no theory is without scope, shying away from the three major theories from recognizing the English contractions need to be broken because of the increasing popularity of its use in modern English structure. The paper, therefore, recommends that as use of contraction gains more popular even in formal speeches today, there is need to establish a syntactic theory to handle its patterns of syntactic relations and morphological formation.Keywords: application, effects, English contractions, syntactic theories
Procedia PDF Downloads 26816 Geophysical Mapping of the Groundwater Aquifer System in Gode Area, Northeastern Hosanna, Ethiopia
Authors: Esubalew Yehualaw Melaku
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In this study, two basic geophysical methods are applied for mapping the groundwater aquifer system in the Gode area along the Guder River, northeast of Hosanna town, near the western margin of the Central Main Ethiopian Rift. The main target of the study is to map the potential aquifer zone and investigate the groundwater potential for current and future development of the resource in the Gode area. The geophysical methods employed in this study include, Vertical Electrical Sounding (VES) and magnetic survey techniques. Electrical sounding was used to examine and map the depth to the potential aquifer zone of the groundwater and its distribution over the area. On the other hand, a magnetic survey was used to delineate contact between lithologic units and geological structures. The 2D magnetic modeling and the geoelectric sections are used for the identification of weak zones, which control the groundwater flow and storage system. The geophysical survey comprises of twelve VES readings collected by using a Schlumberger array along six profile lines and more than four hundred (400) magnetic readings at about 10m station intervals along four profiles and 20m along three random profiles. The study result revealed that the potential aquifer in the area is obtained at a depth range from 45m to 92m. This is the response of the highly weathered/ fractured ignimbrite and pumice layer with sandy soil, which is the main water-bearing horizon. Overall, in the neighborhood of four VES points, VES- 2, VES- 3, VES-10, and VES-11, shows good water-bearing zones in the study area.Keywords: vertical electrical sounding, magnetic survey, aquifer, groundwater potential
Procedia PDF Downloads 12715 The Role Of Data Gathering In NGOs
Authors: Hussaini Garba Mohammed
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Background/Significance: The lack of data gathering is affecting NGOs world-wide in general to have good data information about educational and health related issues among communities in any country and around the world. For example, HIV/AIDS smoking (Tuberculosis diseases) and COVID-19 virus carriers is becoming a serious public health problem, especially among old men and women. But there is no full details data survey assessment from communities, villages, and rural area in some countries to show the percentage of victims and patients, especial with this world COVID-19 virus among the people. These data are essential to inform programming targets, strategies, and priorities in getting good information about data gathering in any society.Keywords: reliable information, data assessment, data mining, data communication
Procedia PDF Downloads 17814 Geophysical Methods of Mapping Groundwater Aquifer System: Perspectives and Inferences From Lisana Area, Western Margin of the Central Main Ethiopian Rift
Authors: Esubalew Yehualaw Melaku, Tigistu Haile Eritro
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In this study, two basic geophysical methods are applied for mapping the groundwater aquifer system in the Lisana area along the Guder River, northeast of Hosanna town, near the western margin of the Central Main Ethiopian Rift. The main target of the study is to map the potential aquifer zone and investigate the groundwater potential for current and future development of the resource in the Gode area. The geophysical methods employed in this study include, Vertical Electrical Sounding (VES) and magnetic survey techniques. Electrical sounding was used to examine and map the depth to the potential aquifer zone of the groundwater and its distribution over the area. On the other hand, a magnetic survey was used to delineate contact between lithologic units and geological structures. The 2D magnetic modeling and the geoelectric sections are used for the identification of weak zones, which control the groundwater flow and storage system. The geophysical survey comprises of twelve VES readings collected by using a Schlumberger array along six profile lines and more than four hundred (400) magnetic readings at about 10m station intervals along four profiles and 20m along three random profiles. The study result revealed that the potential aquifer in the area is obtained at a depth range from 45m to 92m. This is the response of the highly weathered/ fractured ignimbrite and pumice layer with sandy soil, which is the main water-bearing horizon. Overall, in the neighborhood of four VES points, VES- 2, VES- 3, VES-10, and VES-11, shows good water-bearing zones in the study area.Keywords: vertical electrical sounding, magnetic survey, aquifer, groundwater potential
Procedia PDF Downloads 7813 On the Algorithmic Iterative Solutions of Conjugate Gradient, Gauss-Seidel and Jacobi Methods for Solving Systems of Linear Equations
Authors: Hussaini Doko Ibrahim, Hamilton Cyprian Chinwenyi, Henrietta Nkem Ude
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In this paper, efforts were made to examine and compare the algorithmic iterative solutions of the conjugate gradient method as against other methods such as Gauss-Seidel and Jacobi approaches for solving systems of linear equations of the form Ax=b, where A is a real n×n symmetric and positive definite matrix. We performed algorithmic iterative steps and obtained analytical solutions of a typical 3×3 symmetric and positive definite matrix using the three methods described in this paper (Gauss-Seidel, Jacobi, and conjugate gradient methods), respectively. From the results obtained, we discovered that the conjugate gradient method converges faster to exact solutions in fewer iterative steps than the two other methods, which took many iterations, much time, and kept tending to the exact solutions.Keywords: conjugate gradient, linear equations, symmetric and positive definite matrix, gauss-seidel, Jacobi, algorithm
Procedia PDF Downloads 14812 Examining the Challenges Faced by Passengers Using Arik Air for International and Domestic Travel
Authors: Mahmud Hafsat Hussaini, Eldah Ephraim Eldah, Bata Zoakah Amina
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This research work was aimed at examining the challenges faced by passengers using Arik air for domestic and international travels. Passengers do complain of delay flights, theft and rude behavior by Arik staff while on transit or in the process of travelling using the aircraft. Being the national carrier in Nigeria these behaviors have tarnished the image of the airline and makes travel experience to be challenging. Hundred survey questionnaires were administered to travellers who have used the airline for domestic and international flights. Findings show that the staff of the airline do lack customer care skills and are sometimes rude to customers. The airline does have different agents that book for international flights who delays confirming bookings even after payment. The website of the airline is mostly down and makes bookings difficult. Other findings related to the study are a delay of domestic flights within Nigeria. Passengers are sometimes kept for 8 hours in the airport due to delay of flights. The study, therefore, recommends that flight schedule should be adhered to and staff should be trained to meet of with passengers demand. The security of guest luggage at the airport should be put in place to avoid theft. An effective booking platform should be accessible to passengers for easy booking.Keywords: examining, challenges, domestic, international, travels
Procedia PDF Downloads 21611 Budget and the Performance of Public Enterprises: A Study of Selected Public Enterprises in Nasarawa State Nigeria (2009-2013)
Authors: Dalhatu, Musa Yusha’u, Shuaibu Sidi Safiyanu, Haliru Musa Hussaini
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This study examined budget and performance of public enterprises in Nasarawa State, Nigeria in a period of 2009-2013. The study utilized secondary sources of data obtained from four selected parastatals’ budget allocation and revenue generation for the period under review. The simple correlation coefficient was used to analyze the extent of the relationship between budget allocation and revenue generation of the parastatals. Findings revealed varying results. There was positive (0.21) and weak correlation between expenditure and revenue of Nasarawa Investment and Property Development Company (NIPDC). However, the study further revealed that there was strong and weak negative relationship in the revenue and expenditure of the following parastatals over the period under review. Viz: Nasarawa State Water Board, -0.27 (weak), Nasarawa State Broadcasting Service, -0.52 (Strong) and Nasarawa State College of Agriculture, -0.36 (weak). The study therefore, recommends that government should increase its investments in NIPDC to enhance efficiency and profitability. It also recommends that government should strengthen its fiscal responsibility, accountability and transparency in public parastatals.Keywords: budget, public enterprises, revenue, enterprise
Procedia PDF Downloads 25710 Insecurity as a Challenge to Nutritional Status of Children and Mothers in Dansadau, Maru Local Government Area Zamfara State, North Western Nigeria
Authors: Mohammed Hussaini
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This paper discusses insecurity as a challenge to the nutritional Status of children and mothers in Dansadau, Maru Local Government area of Zamfara state, Northwestern Nigeria. A Descriptive survey design was used in the study. Objectives of the study were formulated to guide the study. 20 Health workers and 100 mothers were used as population of the study; the instrument validation for data collection was interview. The interview structure was validated by 3 experts, the data collected was analyzed and presented using descriptive standard score (Z-score). The study revealed that, Nutritional Status of children and mothers in Northwest Nigeria specifically Zamfara state is low. This mostly affect children and mother as a result of serious insecurity challenge in the region, consisting of banditry and kidnapping, killing of farmers, destruction of farmland, burning of farm products. The study recommended that the focus is on implementing strong communication strategies to enhance short-term relief initiatives, both governmental and non-governmental organizations should actively play a role in initiating lasting change, especially when tackling issues of insecurity and effectively addressing the rise of armed banditry and other security concerns requires a sophisticated and nuanced strategy.Keywords: insecurity, malnutrition, children, mothers
Procedia PDF Downloads 559 Utilisation of Sports and Games for Psychosocial Rehabilitation of Internally Displaced Persons in Maiduguri, Nigeria
Authors: Stephen Hamafyelto, Hussaini Garba, Mary Pindar Ndahi
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The study was carried out with the intent to mitigate the trauma experienced by victims of insurgent attacks by the so-called Boko Haram militants in Borno state of Nigeria. The area was ridden by the crisis over the past 9 years. As a result, many people were killed, maimed and raped. Some others suffered all manner of inhuman treatment at the hands of their captors. The extent to which this dehumanized treatment has gone and impacted on the people in this area has left most of them traumatised. Victims who survived the attacks have been resettled in camps provided by government where their needs have been cared for. This can never be the same with their natural habitats. Many interventions have also been done by government, non-governmental organisations and corporate and individual bodies. In this regard, social needs of the victims have been the immediate concerns of most organisations, where food, shelter, and clothing were provided. However, there is little that has been done to rehabilitate these victims psychosocially. In this regard, sports and games including the victims’ local games were used to provide psychosocial rehabilitation of victims. The intent was to bring them back to social reality, social inclusion, and stable emotions and peer integration. Descriptive statistics and Multivariate analysis were done. No statistically significant difference was found among male and female children and adults in terms of psychosocial rehabilitation using sports and games.Keywords: social reality, social inclusion, emotional intellegence, peer model
Procedia PDF Downloads 2058 Audit Committee Characteristics and Earnings Quality of Listed Food and Beverages Firms in Nigeria
Authors: Hussaini Bala
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There are different opinions in the literature on the relationship between Audit Committee characteristics and earnings management. The mix of opinions makes the direction of their relationship ambiguous. This study investigated the relationship between Audit Committee characteristics and earnings management of listed food and beverages Firms in Nigeria. The study covered the period of six years from 2007 to 2012. Data for the study were extracted from the Firms’ annual reports and accounts. After running the OLS regression, a robustness test was conducted for the validity of statistical inferences. The dependent variable was generated using two steps regression in order to determine the discretionary accrual of the sample Firms. Multiple regression was employed to run the data of the study using Random Model. The results from the analysis revealed a significant association between audit committee characteristics and earnings management of the Firms. While audit committee size and committees’ financial expertise showed an inverse relationship with earnings management, committee’s independence, and frequency of meetings are positively and significantly related to earnings management. In line with the findings, the study recommended among others that listed food and beverages Firms in Nigeria should strictly comply with the provision of Companies and Allied Matters Act (CAMA) and SEC Code of Corporate Governance on the issues regarding Audit Committees. Regulators such as SEC should increase the minimum number of Audit Committee members with financial expertise and also have a statutory position on the maximum number of Audit Committees meetings, which should not be greater than four meetings in a year as SEC code of corporate governance is silent on this.Keywords: audit committee, earnings management, listed Food and beverages size, leverage, Nigeria
Procedia PDF Downloads 2687 Analysis of Senior Secondary II Students Performance/Approaches Exhibited in Solving Circle Geometry
Authors: Mukhtari Hussaini Muhammad, Abba Adamu
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The paper will examine the approaches and solutions that will be offered by Senior Secondary School II Students (Demonstration Secondary School, Azare Bauchi State Northern Nigeria – Hausa/ Fulani predominant area) toward solving exercises related to the circle theorem. The angle that an arc of a circle subtends at the center is twice that which it subtends at any point on the remaining part of the circumference. The Students will be divided in to 2 groups by given them numbers 1, 2; 1, 2; 1, 2, then all 1s formed group I and all 2s formed group II. Group I will be considered as control group in which the traditional method will be applied during instructions. Thus, the researcher will revise the concept of circle, state the theorem, prove the theorem and then solve examples. Group II, experimental group in which the concept of circle will be revised to the students and then the students will be asked to draw different circles, mark arcs, draw angle at the center, angle at the circumference then measure the angles constructed. The students will be asked to explain what they can infer/deduce from the angles measured and lastly, examples will be solved. During the next contact day, both groups will be subjected to solving exercises in the classroom related to the theorem. The angle that an arc of a circle subtends at the center is twice that which it subtends at any point on the remaining part of circumference. The solution to the exercises will be marked, the scores compared/analysed using relevant statistical tool. It is expected that group II will perform better because of the method/ technique followed during instructions is more learner-centered. By exploiting the talents of the individual learners through listening to the views and asking them how they arrived at a solution will really improve learning and understanding.Keywords: circle theorem, control group, experimental group, traditional method
Procedia PDF Downloads 1916 An Assessment of Drainage Network System in Nigeria Urban Areas using Geographical Information Systems: A Case Study of Bida, Niger State
Authors: Yusuf Hussaini Atulukwu, Daramola Japheth, Tabitit S. Tabiti, Daramola Elizabeth Lara
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In view of the recent limitations faced by the township concerning poorly constructed and in some cases non - existence of drainage facilities that resulted into incessant flooding in some parts of the community poses threat to life,property and the environment. The research seeks to address this issue by showing the spatial distribution of drainage network in Bida Urban using Geographic information System techniques. Relevant features were extracted from existing Bida based Map using un-screen digitization and x, y, z, data of existing drainages were acquired using handheld Global Positioning System (GPS). These data were uploaded into ArcGIS 9.2, software, and stored in the relational database structure that was used to produce the spatial data drainage network of the township. The result revealed that about 40 % of the drainages are blocked with sand and refuse, 35 % water-logged as a result of building across erosion channels and dilapidated bridges as a result of lack of drainage along major roads. The study thus concluded that drainage network systems in Bida community are not in good working condition and urgent measures must be initiated in order to avoid future disasters especially with the raining season setting in. Based on the above findings, the study therefore recommends that people within the locality should avoid dumping municipal waste within the drainage path while sand blocked or weed blocked drains should be clear by the authority concerned. In the same vein the authority should ensured that contract of drainage construction be awarded to professionals and all the natural drainages caused by erosion should be addressed to avoid future disasters.Keywords: drainage network, spatial, digitization, relational database, waste
Procedia PDF Downloads 3325 Influence of Online Media on Governance in Nigeria: The United States-Based Sahara Reporters as a Case Study
Authors: Sheriff Folarin, Oluwafunke Folarin, Hadassah Hussaini, Victor Jubril, Olaniyi Ayodele
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Using a famous, unrestrained and fiery United States-based, Nigerian-owned Sahara Reporters as a case study, this paper examined the impact of online-based media on governance in Nigeria. The discourse is premised on the thesis that the internet has changed the face of journalism and that the mainstream but online-based media have made journalism more participatory than ever. Everyone who has something to say finds it easy to say it quickly and conveniently, unhinged or without being censored. This has made online journalism very popular and the number of online-based news platforms to be on the increase. As these platforms have given the citizens a means to interact and added to the content of the news, they have also succeeded in promoting partisanship. It thus becomes necessary to study the impact of the rabid news platform, Sahara Reporters, on governance in Africa’s biggest democracy, Nigeria. Few studies have examined the impact on governance of mainstream-online media platforms and those studies that did, have only focused on social media, such as Facebook and Twitter. This paper is a product of a bigger study, in which the research design entailed semi-structured interviews with participants from different sectors of the society and an analysis of contents from the Sahara Reporters website, from which data were collected. The findings revealed that through uncensored reporting and citizen participation on the platform of Sahara Reporters, there had been a significant people influence on governance in Nigeria, with government at two levels (national and state) sometimes shifting or yielding grounds, particularly from 2011-2016. The study also recognized the presence of counter-forces in the online community who want to discredit the information on the site. Through the lens of media dependency theory, the study concluded that the public now increasingly depends on online news media for information and the more news these media provide, the more the people depend on it, making it easy for them to influence governance.Keywords: governance, media, online news, Sahara reporters
Procedia PDF Downloads 974 Risk Factors Associated with Outbreak of Cerebrospinal Meningitis in Kano State- Nigeria, March-May 2017
Authors: Visa I. Tyakaray, M. Abdulaziz, O. Badmus, N. Karaye, M. Dalhat, A. Shehu, I. Bello, T. Hussaini, S. Akar, G. Effah, P. Nguku
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Introduction: Nigeria has recorded outbreaks of meningitis in the past, being in the meningitis belt. A multi-state outbreak of Cerebrospinal Meningitis (CSM) from Neisseria meningitides occurred in 2017 involving 24 states, and Kano State reported its first two confirmed CSM cases on 22nd March, 2017. We conducted the outbreak investigation to characterize the outbreak, determine its associated risk factors and institute appropriate control measures. Method: We conducted an unmatched Case-control study with ratio 1:2. A case was defined as any person with sudden onset of fever (>38.5˚C rectal or 38.0˚C axillary) and one of the following: neck stiffness, altered consciousness or bulging fontanelle in toddlers while a control was defined as any person who resides around the case such as family members, caregivers, neighbors, and healthcare personnel. We reviewed and validated line list and conducted active case search in health facilities and neighboring communities. Descriptive, bivariate, stratified and multivariate analysis were performed. Laboratory confirmation was by Latex agglutination and/or Culture. Results: We recruited 48 cases with median age of 11 years (1 month – 65 years), attack rate was 2.4/100,000 population with case fatality rate of 8%; 34 of 44 local government areas were affected.On stratification, age was found to be a confounder. Independent factors associated with the outbreak were age (Adjusted Odds Ratio, AOR =6.58; 95% Confidence Interval (CI) =2.85-15.180, history of Vaccination (AOR=0.37; 95% CI=0.13-0.99) and history of travel (AOR=10.16; (1.99-51.85). Laboratory results showed 22 positive cases for Neisseria meningitides types C and A/Y. Conclusion: Major risk factors associated with this outbreak were age (>14years), not being vaccinated and history of travel. We sensitized communities and strengthened case management. We recommended immediate reactive vaccination and enhanced surveillance in bordering communities.Keywords: cerebrospinal, factors, Kano-Nigeria, meningitis, risk
Procedia PDF Downloads 2153 The Use of Geographic Information System in Spatial Location of Waste Collection Points and the Attendant Impacts in Bida Urban Centre, Nigeria
Authors: Daramola Japheth, Tabiti S. Tabiti, Daramola Elizabeth Lara, Hussaini Yusuf Atulukwu
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Bida urban centre is faced with solid waste management problems which are evident in the processes of waste generation, onsite storage, collection, transfer and transport, processing and disposal of solid waste. As a result of this the urban centre is defaced with litters of garbage and offensive odours due to indiscriminate dumping of refuse within the neighborhood. The partial removal of the fuel subsidy by the Federal Government in January 2012 leads to the formation of Subsidy Reinvestment Programmes (SURE-P), the Federal Government’s share is 41 per cent of the savings while the States and Local Government shared the remaining 59 percent. The SURE-P Committee in carrying out the mandate entrusted upon it by the President by identifying few critical infrastructure and social Safety nets that will ameliorate the sufferings of Nigerians. Waste disposal programme as an aspect of Solid waste management is one of the areas of focus for Niger State SURE-programmes incorporated under Niger State Environmental Protection Agency. The emergence of this programme as related to waste management in Bida has left behind a huge refuse spots along major corridors leading to a serious state of mess. Major roads within the LGA is now turned to dumping site, thereby obstructing traffic movements, while the aesthetic nature of the town became something else with offensive odours all over. This paper however wishes to underscore the use of geographical Information System in identifying solid waste sports towards effective solid waste management in the Bida urban centre. The paper examined the spatial location of dumping points and its impact on the environment. Hand held Global Position System was use to pick the dumping points location; where a total number of 91 dumping points collected were uploaded to ArcGis 10.2 for analysis. Interview method was used to derive information from households living near the dumping site. It was discovered that the people now have to cope with offensive odours, rodents invasion, dog and cats coming around the house as a result of inadequate and in prompt collection of waste around the neighborhood. The researchers hereby recommend that more points needs to be created with prompt collections of waste within the neighborhood by the necessary SURE - P agencies.Keywords: dumping site, neighborhood, refuse, waste
Procedia PDF Downloads 5272 Analysis of Determinants of Growth of Small and Medium Enterprises in Kwara State, Nigeria
Authors: Hussaini Tunde Subairu
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Small and Medium Enterprises (SMEs) sectors serve as catalyst for employment generation, national growth, poverty reduction and economic development in developing and developed countries. However, in Nigeria despite copious and plethora of government policies and stimulus schemes directed at SMEs, the sector is still characterized by high rate of failure and discontinuities. This study therefore investigated owners/managers profile, firms characteristics and external factors as possible determinants of SMEs growth from selected SMEs in Kwara State. Primary data were sourced from 200 SMEs respondents registered with the National Association of Small and Medium Enterprises (NASMES) in Kwara State Central Senatorial District. Multiple Regressions Analysis (MRA) was used to analyze the relationship between dependent and independent variables, and pair wise correlation was employed to examine the relationship among independent variables. The Analysis of Variable (ANOVA) was employed to indicate the overall significant of the model The findings revealed that Analysis of variance (ANOVA) put the value of F-statistics at 420.45 and p-value at 0.000 was significant. The values of R2 and Adjusted R2 of 0.9643 and 0.9620 respectively suggested that 96 percent of variations in employment growth were explained by the explanatory variables. The level of technical and managerial education has t- value of 24.14 and p-value of 0.001, length of managers/owners experience in similar trade with t- value of 21.37 and p-value of 0.001, age of managers/owners with t- value of 42.98 and p-value of 0.001, firm age with t- value of 25.91 and p-value of 0.001, numbers of firms in a cluster with t- value of 7.20 and p-value of 0.001, access to formal finance with t-value of 5.56 and p-value of 0.001, firm technology innovation with t- value of 25.32 and p-value of 0.01, institutional support with t- value of 18.89 and p-value of 0.01, globalization with t- value of 9.78 and p-value of 0.01, and infrastructure with t-value of 10.75 and p-value of 0.01. The result also indicated that initial size has t-value of -1.71 and p-value of 0.090 which is consistent with Gibrat’s Law. The study concluded that owners/managers profile, firm specific characteristics and external factors substantially influenced employment growths of SMEs in the study area. Therefore, policy implication should enhance human capital development of SMEs owners/managers, and strengthen fiscal policy thrust through imposition on tariff regime to minimize effect of globalization. Governments at all level must support SMEs growth radically and enhance institutional support for SMEs growth and radically and significantly upgrading key infrastructure as rail/roads, rail, telecommunications, water and power.Keywords: external factors, firm specific characteristics, owners / manager profile, small and medium enterprises
Procedia PDF Downloads 2421 Momentum in the Stock Exchange of Thailand
Authors: Mussa Hussaini, Supasith Chonglerttham
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Stocks are usually classified according to their characteristics which are unique enough such that the performance of each category can be differentiated from another. The reasons behind such classifications in the financial market are sometimes financial innovation or it can also be because of finding a premium in a group of stocks with similar features. One of the major classifications in stocks market is called momentum strategy. Based on this strategy stocks are classified according to their past performances into past winners and past losers. Momentum in a stock market refers to the idea that stocks will keep moving in the same direction. In other word, stocks with rising prices (past winners stocks) will continue to rise and those stocks with falling prices (past losers stocks) will continue to fall. The performance of this classification has been well documented in numerous studies in different countries. These studies suggest that past winners tend to outperform past losers in the future. However, academic research in this direction has been limited in countries such as Thailand and to the best of our knowledge, there has been no such study in Thailand after the financial crisis of 1997. The significance of this study stems from the fact that Thailand is an open market and has been encouraging foreign investments as one of the means to enhance employment, promote economic development, and technology transfer and the main equity market in Thailand, the Stock Exchange of Thailand is a crucial channel for Foreign Investment inflow into the country. The equity market size in Thailand increased from $1.72 billion in 1984 to $133.66 billion in 1993, an increase of over 77 times within a decade. The main contribution of this paper is evidence for size category in the context of the equity market in Thailand. Almost all previous studies have focused solely on large stocks or indices. This paper extends the scope beyond large stocks and indices by including small and tiny stocks as well. Further, since there is a distinct absence of detailed academic research on momentum strategy in the Stock Exchange of Thailand after the crisis, this paper also contributes to the extension of existing literature of the study. This research is also of significance for those researchers who would like to compare the performance of this strategy in different countries and markets. In the Stock Exchange of Thailand, we examined the performance of momentum strategy from 2010 to 2014. Returns on portfolios are calculated on monthly basis. Our results on momentum strategy confirm that there is positive momentum profit in large size stocks whereas there is negative momentum profit in small size stocks during the period of 2010 to 2014. Furthermore, the equal weighted average of momentum profit of both small and large size category do not provide any indication of overall momentum profit.Keywords: momentum strategy, past loser, past winner, stock exchange of Thailand
Procedia PDF Downloads 316