TABLE OF CONTENTS
Title page i
Declaration ii
Certification iii
Dedication iv
Acknowledgement v
Table of content vi
List of tables vii
Abstract xi
CHAPTER ONE
INTRODUCTION
11. Background to the study 1
1.2 Statement of problem 5
1.3 Objectives of the study 8
1.4 Research questions 9
1.5 Research hypotheses 10
1.6 Scope of the study 10
1.7 Significance of the study 11
1.8 Organization of the Study 13
1.9 Definitions of terms 14
CHAPTER TWO
LITERATURE REVIEW AND THEORETICAL FRAMEWORK
2.1 The concept of merger and acquisition 18
2.2 Theoretical framework 23
2.2.1 Bank capital channel model 23
2.2.2 Capital constraint model 24
2.2.3 The lifecycle approach 25
2.2.4 The pecking order theory 25
2.2.5 Agency theory 26
2.3 History of Mergers and Acquisition In Nigeria 27
2.4 Reasons for mergers and acquisition 29
2.5 The role of banking system in the economy 36
2.6 Rationales for banking system reform in Nigeria 38
2.7 Benefit of mergers and acquisition of the Nigerian banking system 40
2.8 Challenges of bank mergers and acquisitions 43
2.9 Financial situations of banks and small and medium
Businesses in Nigeria 46
2.10 Banks’ lending policies towards small and medium
Enterprises 52
2.11 Critical factors influencing banks’ lending to small and 55
2.12 The effect of bank merger and acquisition on small 57
2.12.1The four effects of merger and acquisition on bank 62
CHAPTER THREE
RESEARCH METHODOLOGY
3.1Research design 69
3.2 Methods of data collection and data sources 70
3.3 Limitations of the study 71
3.4 Model Specification 71
3.5 Estimation technique and validation 73
CHAPTER FOUR
DATA PRESENTATION, ANALYSIS AND DISCUSSION OF FINDINGS
4.1 Data Presentation 77
4.2 Analysis of data 89
4.2.1 Analysis of regression results of the impact of bank 89
4.2.2 Analysis of regression results of the impact of bank deposit on small business lending using
Pre-merged data of STB (Static effect) 91
4.2.3 Analysis of regression results of the impact of bank deposit on small business lending using pre-merged
data of UBA/STB (static effect) 93
4.2.4 Analysis of regression results of the impact of bank deposit on small business lending using
Pre-merged data of GTB (static effect) 93
4.2.5 Analysis of regression results of the dynamic effect of
merger and acquisition on small business lending. 94
4.3 Test of Hypotheses 97
4.3.1 HypothesisI 97
4.3.2 Hypothesis ii 97
4.3.3 Hypothesis iii 98
4.3.4 Hypothesisiv 98
4.4 Discussions of findings 99
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 Summary of findings 101
5.2 Conclusion 101
5.3 Recommendations 102
References
