Abstract:
Companies and government (local, state, and federal) are
continuously facing financial problem not only to meet their
short term needs, but also to meet their long term capital
requirement for fixed investment like factories, plant and
machinery, housing estate, road electricity etc for the execution
of such long term project are produced by the capital market. It
is a market that mobilized saving from surplus units for long
term investment Yusuf (2004). It is the arm of the financial
market which is designed to facilitate the efficient flow of long
term capital Ekineh (2001).
