| Title: |
Asymmetric evidence of foreign direct investment response to stock returns in Nigeria |
| Authors: |
Joel Ede Owuru; Olumuyiwa Samuel Oladele |
| Source: |
Future Business Journal, Vol 9, Iss 1, Pp 1-14 (2023) |
| Publisher Information: |
SpringerOpen |
| Publication Year: |
2023 |
| Collection: |
Directory of Open Access Journals: DOAJ Articles |
| Subject Terms: |
Foreign direct investment; Stock returns; Nonlinear autoregressive distributed lag; Business; HF5001-6182; Finance; HG1-9999 |
| Description: |
This study examines the response of foreign direct investment (FDI) to asymmetric changes in stock returns in Nigeria. We employed disaggregated monthly data for Nigeria (1985M01–2017M12) to test the magnitude of stock returns’ elasticity of FDI using a nonlinear ARDL modelling framework. By controlling for exchange rate and output size, evidence of asymmetric response of FDI to stock market returns in Nigeria could not be denied. Hence, sustainable development in Nigeria requires a long-run balance between FDI and Stock market through a stable exchange rate management system and efficiency of the capital market is necessary for increased FDI. |
| Document Type: |
article in journal/newspaper |
| Language: |
English |
| Relation: |
https://doi.org/10.1186/s43093-023-00194-4; https://doaj.org/toc/2314-7210; https://doaj.org/article/ed27ac0147be403fa6d5993d224d11c6 |
| DOI: |
10.1186/s43093-023-00194-4 |
| Availability: |
https://doi.org/10.1186/s43093-023-00194-4; https://doaj.org/article/ed27ac0147be403fa6d5993d224d11c6 |
| Accession Number: |
edsbas.2D7B3ABB |
| Database: |
BASE |