Today we set out on a journey, like the Wall Street Journal did over a century ago, influenced by the twin principles of “free markets and free people”, principles, we believe, the true fighters for our independence believed in. They are anchored on Thomas Jefferson’s Declaration of Independence in America and Adam Smith’s Wealth of Nations in the United Kingdom, both occur- ring in 1776.
So, we introduce to you, this maiden issue of business a.m., a financial weekly with a philosophy underpinned by the pursuit of more efficient markets. We seek to do this through a different approach to the coverage and reporting of business and the economy.
We are driven by a desire to adequately present an understanding of how the economy works and the developments that shape the markets, including the actions and inactions of operators, regulators, and participants that impact our markets. In doing this, we hope to enhance market performance and serve for our readers, a veritable source of information and intelligence on whom and what shape activities in the economy.
We acknowledge that in the harsh economic climate prevailing today; it would seem like a rather difficult time to start a new publication. Indeed, these times are times that try men’s soul, but it does take the courage of few to reorder events and history.
Therefore, we are immensely excited by the risks and challenges that this journey presents. We believe strongly that the Nigerian public, especially its economic, financial and business actors, deserves a genuine alternative voice in the coverage, reportage and delivery of information and intelligence about developments in the economy across its different markets. This is what we have come to provide.
We intend on this journey to bring some intrusive value, which would reorder financial journalism in Nigeria. In doing this we will work tirelessly to be accurate, providing useful and usable business information and intelligence through print, online and digital publishing. We will provide accurate data and information for businesses and markets in order to make them more efficient, thereby offering value-based services for growth and development of the economy.
We shall focus on products and operations in the financial markets and the various other markets they support to grow the economy, including energy and electricity, commodities and agriculture, transport and telecommunications, manufacturing and industry, among others.
In this first issue, therefore, it is worthwhile saying something about our modus operandi, scope, and content of the paper.
business a.m aims to publish investigative and rigorous theoretical, conceptual, and empirical reports dealing with issues in all areas of finance and the markets. The weekly is particularly interested in issues that deal with the varying markets, the environmental, social and governance factors in financial decision making and their impact on valuation or what is popularly known as price.
Specifically, our editorial thrust is to provide insights into the following broad areas – alternative assets, asset pricing, behavioural finance, capital structure, central banking, commodities, and cost of capital.
Other broad areas are credit markets, emerging markets, energy markets, ethics in financial markets, exchange rates and how prices are determined in the market for the sale of currencies, interest rates and how they are determined with a view to promoting the role of the markets in shaping such outcomes. We are interested in experimental finance, financial accounting, fintech, foreign exchange markets, governance, mergers and acquisitions, market regulation, real estate nance, risk management and hedging, private equity, investment banking, among others.
Other contending issues in the economy and in the markets that we would focus on include pricing, innovation, the role of technology, which would be addressed through well-executed ideas that break from the tradition, and provide answers or solutions that utilize a non-conventional approach or challenge group-think.
We are optimistic that ongoing positive developments in the economy would support market efficiency in the near to medium term, which we would report clearly with a sense of diligence without fear or favour.
Welcome to our world.