Asymmetric evidence of foreign direct investment response to stock returns in Nigeria

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 control...

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Detalles Bibliográficos
Autores principales: Owuru, Joel Ede, Oladele, Olumuyiwa Samuel
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Berlin Heidelberg 2023
Materias:
Research
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10181923/
http://dx.doi.org/10.1186/s43093-023-00194-4
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author Owuru, Joel Ede
Oladele, Olumuyiwa Samuel
author_facet Owuru, Joel Ede
Oladele, Olumuyiwa Samuel
author_sort Owuru, Joel Ede
collection PubMed
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.
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spelling pubmed-101819232023-05-14 Asymmetric evidence of foreign direct investment response to stock returns in Nigeria Owuru, Joel Ede Oladele, Olumuyiwa Samuel Futur Bus J Research 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. Springer Berlin Heidelberg 2023-05-13 2023 /pmc/articles/PMC10181923/ http://dx.doi.org/10.1186/s43093-023-00194-4 Text en © The Author(s) 2023 https://creativecommons.org/licenses/by/4.0/Open AccessThis article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article's Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article's Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/ (https://creativecommons.org/licenses/by/4.0/) .
spellingShingle Research
Owuru, Joel Ede
Oladele, Olumuyiwa Samuel
Asymmetric evidence of foreign direct investment response to stock returns in Nigeria
title Asymmetric evidence of foreign direct investment response to stock returns in Nigeria
title_full Asymmetric evidence of foreign direct investment response to stock returns in Nigeria
title_fullStr Asymmetric evidence of foreign direct investment response to stock returns in Nigeria
title_full_unstemmed Asymmetric evidence of foreign direct investment response to stock returns in Nigeria
title_short Asymmetric evidence of foreign direct investment response to stock returns in Nigeria
title_sort asymmetric evidence of foreign direct investment response to stock returns in nigeria
topic Research
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10181923/
http://dx.doi.org/10.1186/s43093-023-00194-4
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