BIODATA FOR ABSU PORTAL
NAME:ONYEMACHI MAXWELLOGBULUPh.D
RANK:Professor of Finance, Deputy Vice-
Chancellor (Administration) and Member, Governing Council
EMAIL:; ;
AREAS OF SPECIALIZATION: Investment Analysis, Portfolio Theory,
Financial Markets and Finametrics.
DATE OF BIRTH:18th July, 1956.
ACADEMIC QUALIFICATIONS: B.Sc (Econs), MBA (Finance), Ph.D (Finance)
RESEARCH COLLABORATIONS: With TETFUND, International Academy of Business,
USA and Markowitz Centre for Research & Development, Port Harcourt.
AWARDS:
1. Certificate of HonourAwarded by the Finance and Banking Students Association
(FIBSA), Abia State University, Uturu in Recognition of my contributions towards the upliftment of academics in the Department of Banking and Finance dated 1st November, 2001.
2. Certificate of HonourAwarded by Finance and Banking Students Association
(FIBSA) of Abia State University, Uturu for being an Indisputable Lecturer and Action Head of Department.
3. Merit Award by Abia State University, Uturu in Recognition, Honour and
Appreciation of my Sterling Contributions to the Phenomenal Growth and Development of Abia State University, Uturu dated 7th August, 2007.
4. Professional Excellence International Award by the Institute of Global Resource
Management, Abuja, in Honour and Recognition of my Distinguished Contributions to Human Resource Development and Outstanding Contributions in the Education Sector dated 20th October, 2007.
5. Certificate of Merit Awarded by The Vice Chancellor, Abia State University, Uturu,
on behalf of the University Senate and Administration in Recognition and Appreciation of my Outstanding Contributions as Head of Department towards the attainment of full Accreditation by the Department of Banking and Finance in the 2007/2008 NUC Accreditation Visitation exercise dated 29th July, 2008.
6. Merit Award by the National Union of Asa Students, Abia State Polytechnic, Aba in
Recognition of my Contributions towards Academic Development and Service to Humanity, 2008/2009.
7. Education Excellence Award by Childfest in Recognition of my Contributions
Towards the Development of Education in Ukwa West LGA, Abia State dated 15th December, 2011.
8. Merit Award as Man of Valour by St. Andrew’s Anglican Church, Ohuru Parish,
Ukwa East LGA, Abia State in recognition of outstanding achievements and special support to Evangelism and upliftment of humanity, 21st June, 2015.
9.Presented with Award of Honourby the National Union of Asa Students (NUAS),
Abia State University, Uturu Chapter as a Custodian and Promoter of African Culture and in recognition of Service to Humanity dated 13th day of August, 2015.
10.Admitted as Research Fellow of The International Academy of Business and
Behavioural Sciences (IABBS), Hamden, Connecticut, USA with Designatory Letters: FIABBS in recognition of Outstanding Contributions to Research and Academics, dated 2nd September, 2016.
11.Admitted as Distinguished Fellow of the International Academy of Business in Washington DC, USA in recognition of Outstanding Contribution to Higher Education dated 13th day of October, 2017
MEMBERSHIP OF PROFESSIONAL BODIES:
1.Fellow (FABE), Association of Business Executives(1991-Date)
2.Investment Adviser/Fund Manager (SEC) Registered (1990-1991)
3.Fellow (FRHD), Strategic Institute for Natural Resources and Human Development. (2008-Date)
4.Fellow (FCFIA), Chartered Institute of Financial and Investment Analysts, Nigeria. (2013-Date)
5.Research Fellow (FIABBS), International Academy of Business and Behavioural
Sciences (IABBS), Hamden, Connecticut, USA.(2016-Date).
CURRENT RESEARCH INTERESTS:
*Further tests of the semi-strong efficiency of the Nigerian Capital market;
*Examination of the volatility and memory level of the Nigerian Capital market;
*Assessment of the desirability and feasibility of establishing a virile Futures market in Nigeria.
*Determinants of Investment Behavior in the Nigerian Stock Market:
Survey of Households in Nigerian Universities in the South East and South-South States of Nigeria.
PUBLICATIONS: JOURNALS:
1.Ogbulu, O. M. (1999). Industrialization in Abia State: Problems and prospects, Journal of Industrial Business & Economic Research (JIBER), Department of Economics, University of Port Harcourt, Vol. 3, No. 2 July-Dec. pp. 700-707.
2. Ogbulu, O. M. (2000). Leadership, motivation and evaluation as vehicles for optimum performance in the banking industry, Journal of Industrial Business & Economic Research (JIBER), Department of Economics, University of Port Harcourt, Vol. 4, No.1, Jan-June, pp. 760-771.
3.Ogbulu, O. M. (2000). Development and management of venture capital in Nigeria, Journal of Industrial Business & Economic Research (JIBER), Department of Economics, University of Port Harcourt, Vol.4, No.2, July-Dec. pp. 914-924.
4.Ogbulu, O. M. (2000). Electronic banking in Nigeria: Conceptual issues and impact on the Nigerian banking system, African Journal of Applied And Theoretical Economics (AJATE), Department of Economics, University of Port Harcourt, Vol. 4, No.2, pp.214-228.
5. Ogbulu, O. M. (2003). Pricing techniques in the commodity exchange and futures markets: Modalities and prospects for Nigeria, Journal of Industrial Business & Economic Research (JIBER), Department of Economics, University of Port Harcourt, Vol. 7, No.1 Jan-June. pp. 86-107.
6.Ogbulu, O. M. (2004). Market portfolio and capital asset prices: Conceptual issues and methodological enquiry,African Journal of Applied & Theoretical Economics, (AJATE), Department of Economics, University of Port Harcourt, Vol. 8, No.1 , pp. 57-74.
7.Ogbulu, O. M. (2004). Exchange rate movements and balance of payments
adjustment process in Nigeria, African Journal of Applied & Theoretical Economics, (AJATE),Department of Economics, University of Port Harcourt, Vol. 8. No.2, pp.35-46.
8. Ogbulu, O. M. (2006). Universal banking and the efficiency of the financial system: A
critical analysis, Journal of Finance & Economic Research (JOFER), Department of Banking & Finance, Abia State University, Uturu, Vol.1,No.1,Jan.pp. 36-47.
9. Ogbulu, O. M. & Ngwakwe C.C. (2006). Distress factors in banking crises, Journal
of Finance And Economic Research (JOFER), Department of Banking and Finance, Abia State University, Uturu. Vol. 1,No.1, Jan. Pp. 60-69.
10. Ogbulu, O. M. (2006). Deregulation, exchange rate movements and balance of payments adjustment process in Nigeria: An empirical analysis, ABSU Journal of Accounting And Finance,Department of Accountancy, Abia State University, Uturu,Vol.1,No.1, March, ,pp.136-150.
11.Ogbulu, O. M. (2008). Small and medium scale enterprises, incentive packages and economic growth in Nigeria: A critical analysis, African Journal of Entrepreneurship, Vol.1, No.1,pp.180-199.
12.Ogbulu, O. M. & Oko, Ndu. A. E. (2009). Lease financing and economic growth:
Evidence from Nigeria, The Nigerian Journal of Financial Research (NJOFIR),Dept of Finance And Banking, University of Port Harcourt, Port Harcourt, Vol.7, No 1&2, pp. 70-82.
13.Ogbulu, O. M. & Emeni, F. (2009). Testing the relationship between price-to-earnings
ratio and stock returns in the Nigerian Stock Exchange market, International Journal of Accounting, Finance And Economics Perspectives, (A Publication of The International Academy of Business and Behavioural Sciences, IABBS), Department of Accounting, Southern Connecticut State University, New Haven, Connecticut, U.S.A., Vol. 1. No. 1. Winter, Pp. 61-79.
14. Ogbulu, O. M. (2009). Capital market development and economic growth in Nigeria: Application of co-integration and causality tests, Journal of Finance, Banking And Investment (JOFBI), Department of Banking And Finance, Abia State University, Uturu. Vol.3, No.1, April, pp. 1-19.
15. Ogbulu, O. M. et. al (2009). Transforming the oil curse in Nigeria into blessing: The
case of fiscal policy implication. Journal of Business And Economic Research, Centre For Development Strategies in Africa (CEDSAF), Port Harcourt, Vol.1, No.3, pp.108-120.
16.Ogbulu, O. M. & Paul, N. (2009). The impact of black market exchange premium on the inflows of foreign direct investment (FDI) in a liberalised economy: The Nigerian case, Journal of Finance And Economic Research (JOFER),Dept of Banking And Finance, Abia State University, Uturu. Vol.2. No. 1, pp. 116-128.
17. Isu, H.O.,Ogbulu, O. M. & Paul, N. (2009). Trade openness and its impact on foreign
direct investment inflows to Nigeria, Journal of Finance, Banking And Investment,Dept of Banking And Finance, Abia State University, Uturu. Vol.3, No.1, April, pp. 120-130.
18. Ogbulu, O. M. & Paul, N. (2009). Stock prices and exchange rate movements: The
case of Nigeria, Journal of Finance And Economic Research (JOFER),Dept of Banking And Finance, Abia State University, Uturu, Vol.2, No.1, March, pp. 1-17.
19. Ogbulu, O. M. & Emeni, F. (2010). Ownership structure and the performance of
quoted companies in Nigeria, International Journal of Business And Behavioural Research,(A Publication of The International Academy of Business and Behavioural Sciences, IABBS), Department of Accounting, Southern Connecticut State University, New Haven, Connecticut, U.S.A. Vol.1, Number 1, Fall. Pp. 60-73.
20. Ogbulu, O. M. (2010). The interaction between stock returns, inflation and interest
rates in Nigeria: Test of Fisher’s Hypothesis, International Journal of Accounting, Finance & Economics Perspectives, ISSN: 2161-1556, Vol.2, No.2. pp. 69-85.
21. Ogbulu, O. M. & Uruakpa, P. C. (2011). Monetary policy and stock prices in Nigeria:
A co-integration and error correction approach, ABSU Journal of Arts, Management, Education, Law and Social Sciences (Jamelss), Vol. 1. No.1, pp. 60-85.
22. Ogbulu, O. M., Okereke, E.J. & Arewa, A. (2011). An empirical evaluation of the relationship between stock returns and volatility based on ARCH-GARCH Model, ARASH: A Journal of ISMDR (Indian Society for Management Development & Research), Vol.1, No.2, July, Pp. 10-18.
23. Ogbulu, O. M. & Torbira, L. L. (2012). Budgetary operations and economic growth:
The Nigerian perspective, British Journal of Arts and Social Sciences,ISSN: 2046-9578, Vol.4, No.2, pp. 180-194.
24. Ogbulu, O. M. & Mbazie, S. (2012). NEEDS and sustainable community development in Abia State, Nigeria, British Journal of Humanities and Social Sciences,ISSN: 2048-1268, Vol.4, No.2, pp. 80-89.
25. Ogbulu, O. M & Arewa, A. (2012). The long-run directional relationship between leverage and dividend payment: Empirical evidence from the Nigerian Stock Exchange (1984-2010), Asian Journal of Business and Management Sciences,ISSN: 2047-2528, Vol.2, No.1, pp. 29-59.
26. Ogbulu, O. M. & Emeni, F. (2012). Determinants of corporate capital structure in Nigeria,International Journal of Economics and Management Sciences, Vol. 1, No.10, pp. 81-96.
27. Ogbulu, O. M. & Emeni, F. (2012). Corporate governance and bank performance in Nigeria: A correlation analysis, Economics and Finance Review, Vol. 2, No.4, pp. 14-23.
28. Ogbulu, O. M. & Emeni, F. (2012). Agency cost and business fluctuations: Case study of the Tobacco and Food/Beverage sectors of the Nigerian economy, International Journal of Economics and Management Sciences, Vol.1, No.10, pp. 97-107.
29. Ogbulu, O. M. & Emeni, F. (2012). Capital structure and firm value: Empirical evidence from Nigeria, International Journal of Business and Social Sciences, Vol.3, No. 19, pp. 252-261.
30. Ogbulu, O. M. & Torbira, L.L.(2012). Monetary policy and the transmission
mechanism: Evidence from Nigeria, International Journal of Economics and Finance, Vol.4, No 11, pp. 122-133. ISSN 1916-971XE-ISSN 1916-9728.
31. Mbazie, S. & Ogbulu, O. M. (2012). The mass media and the privatization campaign: Asurvey of the Port Harcourt public in Nigeria, International Journal of Humanities and Social Sciences, Vol. 2, No.21, pp. 256-267.
32. Abaenewe, Z.C., Ogbulu, O. M., & Ndugbu, M.O. (2013). Electronic banking and bank performance in Nigeria, West African Journal of Industrial & Academic Research, (International Institute for Science, Technology, Research & Development), Vol.6, No. 1, pp.170-186.
33. Torbira, L. L. and Ogbulu, O. M. (2014). Fund mobilization by insurance companies and fixed capital formation: Evidence from the Nigerian economy, International Journal of Financial Research,Vol. 5, No. 2, pp. 69-78.
34. Ogbulu, O. M., Ajibola, A. & Nwakanma, P. C. (2014). Equity risk premium, macro-economic variables and co-integration: Evidence from Nigeria, International Journal of Empirical Finance, Vol. 2, No. 2, pp. 83-95.
35. Ogbulu, O. M., Abaenewe, Z. C. & Nnamocha, P. N. (2014). Stock market price behaviour and macro-economic variables in Nigeria: An error correction analysis, International Journal of Financial Economics, Vol. 2, No. 2, pp. 58-72.
36.Ogbulu, O. M. & Arewa, A. (2014). Macroeconomic variables and the dynamic effects of public expenditure on economic growth in Nigeria: A long run dynamic analysis, Journal of Economics and Financial Research,Dept of Economics, Abia State University, Uturu, Vol. 3, No. 2, pp.179-193.
37.Ogbulu, O. M., Uruakpa, P. C. & Umezinwa, C. L. (2014). The impact of bank fraud on bank Performance: Empirical evidence from the Nigerian banking sector, Nigeria Journal of Financial Research,Dept of Finance and Banking, University of Port Harcourt, Port Harcourt, Vol. 9, No.1, June, pp. 1-11.
38.Ogbulu, O. M. & Uruakpa, P. C. (2014). Banking reforms in Nigeria since independence: A co-integration analysis, Nigerian Journal of Financial Research,Dept of Finance and Banking, University of Port Harcourt, Port Harcourt, Vol. 9, No. 2, December, pp. 147-163.
39.Ogbulu, O. M., Torbira, L. L. & Umezinwa, C. L. (2015). Assessment of the impact of fiscal policy operations on stock price performance: Empirical evidence from Nigeria, International Journal of Financial Research, Vol.2, No. 6, pp. 190-202.
40.Emeni, F. K. & Ogbulu, O. M. (2015).The effect of dividend policy on the market value of firms in the financial services sector in Nigeria, Archives of Business Research,Vol.3, No.4, pp.15-29, doi.10.14738/abr.34.1253.
41.Ogege, S., Ogbulu, O. M. & Isu, H. O. (2015). Earnings and dividend announcements, semi-strong efficiency and the Nigerian stock market: An empirical investigation,Archives of Business Research, Vol.3, No 4, pp. 104-123, doi:10.14738/abr.34.1366.
42.Arewa, A. & Ogbulu, O. M. (2015). Premium factors and the risk-return trade- off in asset pricing: Evidence from the Nigerian capital market, Journal of Business and Economic Policy,Vol. 2, No. 2, pp. 31-38.
43. Ogbulu, O. M., Uruakpa, P. C. & Umezinwa, C. L. (2015). Empirical investigation of the impact of deposit rates on fund mobilization by deposit money banks in Nigeria,Journal of Finance and Bank Management,Vol. 3, No. 1,pp. 77-89. Doi:10.15640/jfbm.v3n1a8.
44.Olulu-Briggs, O. V. & Ogbulu, O. M. (2015). Money supply and asset prices in Nigeria (2008-2013): An empirical review,Research Journal of Finance and Accounting,Vol. 6, No. 10, pp. 45-56.
45. Abaenewe, Z. C., Ogbulu, O. M. & Nnamocha, P. N. (2015). A further econometric appraisal of the effect of macroeconomic fundamentals on stock market prices in Nigeria, International Journal of Novel Research in Marketing Management and Economics, ISSN: 2394-7322, Vol.2, Issue 2, pp. 92-110.
46.Ogbulu, O. M. & Eze, G. P. (2016). Credit risk management and the performance of deposit money banks in Nigeria: An error correction analysis, Applied Economics and Finance, Vol.3, No.2, pp. 97-109. Doi: 10.11114/aef.v3i2.1356.
47.Eze, G. P. & Ogbulu, O. M. (2016). Asset quality management and the performance of deposit money banks in Nigeria: A co-integration and variance decomposition analysis, International Journal of Economics and Financial Research, Vol. 2, No. 3, pp. 41-54.
48.Ogbulu, O. M. & Arewa, A. (2016). Stock markets and economic growth: Does volatility matter?, Journal of Finance and Economic Research,Dept of Banking and Finance, Abia State University, Uturu, Vol. 3, No.1, pp.6-14.
49.Okanta, S. U. & Ogbulu, O. M. (2016). Fiscal deficits and price level stability in Nigeria: Long-run intertemporal optimization model analysis, Journal of Finance and Economic Research,Dept of Banking and Finance, Abia State University, Uturu, Vol.3, No.1, pp. 35-51.
50.Ogbulu, O. M. (2016). Weak-form market efficiency, estimation interval and the Nigerian Stock Exchange: Empirical evidence, International Journal of Economics & Business, Issue 2016, p.84, International Academy of Business, ISSN: 1949-5166.
51.Ogbulu, O. M. & Eze, G. P. (2017). Capital structure management and financial performance of commercial banks in Nigeria, Journal of Finance, Banking and Investment, Dept of Banking and Finance, Abia State University, Uturu, Vol.4, No.1, March, pp. 6-24.
52.Mojekwu, R. O. & Ogbulu, O. M. (2017). Determinants of national savings in Nigeria: A multivariate analysis (1981-2015, Journal of Finance, Banking and Investment, Dept of Banking and Finance, Abia State University, Uturu, Vol. 4, No. 1, March, pp. 112-132.
53.Ogbulu, O. M. & Torbira, L. L. (2017). Transmission effects of the interaction between parallel and official foreign exchange markets in Nigeria, International Journal of Economics and Financial Research, Vol. 3, No. 6, pp. 76-90.
54.Ogbulu, O. M. & Eze, G. P. (2017). The response of bank performance to liquidity management indicators in Nigeria: A vector autoregressive analysis, ABSU Journal of Arts, Management, Education, Law and Social Sciences (Jamelss), Vol. No.1, pp.
55.Ajayi, A. A. & Ogbulu, O. M. (2017). Test of semi-strong efficiency theory in the Nigerian stock market: An empirical analysis, Journal of Finance and Accounting, Vol. 5, No. 4, pp. 139-146, doi: 10.11648/j.jfa.20170504.13.
BOOKS
56. Ogbulu, O. M. (2012), All-Asset market portfolio and the risk-return behaviour of assets: Evidence from the Nigerian capital market, Saarbrucken, Germany, LAP Lambert Academic Publishing.
57. Onuoha, B. C. & Ogbulu, O. M. (2010), Introduction to business: A book of
reading, Co-editors, Port Harcourt, African Entrepreneurship And Leadership Initiative.
CHAPTERS IN BOOKS:
58.Ogbulu, O. M. (2010). The meaning and scope of financial management,
Chapter 2, in Book of Reading titled Introduction to business: A book of
reading, co-ed by Onuoha, B.C. & Ogbulu, O.M.
59.Ogbulu, O.M. & Paul, N.(2010). Sources of finance for business enterprises: Short
and medium-term sources, Chapter 3 in Book of Reading titled Introduction to business: A book of reading, co-ed by Onuoha, B.C.& Ogbulu, O.M.
60.Ogbulu, O.M. (2010). Sources of long-term finance for business enterprises, Chapter
4 in Book of Reading titled Introduction to business: A book of reading, co-ed by Onuoha, B.C. & Ogbulu, O.M.
CONFERENCES/SEMINARS ATTENDED
61. Ogbulu, O. M. (1987). Sources of business capital in Nigeria, Paper Presented at the
Conference on The Challenges of Business in a Changing Environment, Organised by the Ministry of Commerce & Industry, Zonal Trade Office, Okigwe on the 12th and 13th August, 1987.
62. Ogbulu, O.M. (1989). Operating a mutual funds scheme: Modalities and problems,
Paper Presented at the Conference on Mutual Funds Scheme, Organised by Betnado Investments Limited, at Concorde Hotel, Owerri on the 23rd and 24th November, 1989.
63. Ogbulu, O. M. (2004). Financial control institutions and the techniques of financial
control in the local governments, Paper Presented at the 30-Day Training Course for Chairmen-Elect and their Deputies of Abia State Held at Abia State University, Uturu on 25th May, 2004.
64. Ogbulu, O.M. (2006). Empowering small and medium scale enterprises (SMEs) for
sustainable development, Paper Delivered to the Students of Command and Staff College, Jaji, Kaduna on a One-Week (29th Jan-4th Feb., 2006) Study Tour of Abia State, 2nd February, 2006, Umuahia.
65. Attended the 8th Annual Conference of Heads of Research Institutions and Departments in Nigeria Held at Empire Hotel, Umuahia (2005).
66. Attended and completed programme on Workshop on Strategic Planning, by the
Industrial Training Fund (ITF), Aba from 27th Feb- 1st March, 2006.
67. Attended a Mandatory Educational Training and Development Workshop on Global
Order on Cashless Policy: The Nigerian Economy, Organised by the Chartered Institute of Financial and Investment Analysts of Nigeria Held at Retz Hotel, Abuja on 31st August, 2013.
68. Attended a three-day Conference/Workshop on “Advanced and Intermediate Research
Writing and Methodologies/Current Statistical and Econometric Modelling, Estimations, Interpretation and Application for Researchers and Analysts” Organized by The International Academy of Business And Behavioural Sciences (IABBS), USA in collaboration with Boom Bernardine Center for Research and Development at Newcastle Hotels, Plot 14, Area New Owerri, Imo State, Nigeria from 7th-9th August, 2014.
69.Attended a three-day Conference/Workshop on “Current Statistical & Econometric
Applications for Researchers and Analysts” Organised by The International Academy of Business And Behavioural Sciences (IABBS), CT. USA in collaboration with Boom Bernardine Center for Research and Development at Aldgate Congress Hotel, Plot 308, Sani Abacha Road, GRA, Phase 3, Port Harcourt, Rivers State from 13th -15th August, 2015.
70.Attended a three-day Annual Joint Conference of the International Academy of Business/International Educators Group held at the Courtyard Crystal City Hotel, Arlington, Virginia, Washington DC, USA from October 15th-17th, 2015. Paper presented on “Weak-form Market Efficiency, Estimation Interval and the Nigerian Stock Exchange: Synthesis of Empirical Evidence”
71.Attended a one-day National Sensitization Workshop on the Nigerian Oil and Gas
Industry Content Development Act, 2010 organized by the Nigerian Content Development Monitoring Board at Akwete, Ukwa East LGA, Abia State on 11th February, 2016. Paper presented on “Nigerian Oil and Gas Industry Content Development Act 2010 – How Host Communities and Youths Can Benefit from The Act”.