Effect Of Liquidity Management On The Performance Of Banks Listed On The Nigerian Stock Exchange

CHAPTER ONE INTRODUCTION 1.1 Background to the Study Marozva (2015) disclosed that over the past six decades since Markowitz’s seminal paper of 1952 on portfolio selection, most financial theories and models assumed markets were frictionless, thus, in traditional asset pricing models, liquidity plays no role at all because it is assumed away. The moment these conventions are relaxed, the world changes, though not in an expected way. Adekunle (2009) mentioned that during the recent global financial crisis several banks experienced some difficulties because they failed to manage liquidity in a p…