Emerging markets like Nigeria have consistently utilized foreign portfolio investments inflows to boost the economy. While economies consistently harness Foreign Portfolio Investment (FPI) in equity stocks to grow the economy, the report on foreign portfolio investments in bond stocks is too low to bridge the savings-investment gap in the economy. Therefore, this study examines the effect of foreign portfolio investment in bond stocks on the performance of the Nigerian stock market. The study employed expost facto research method using monthly time series data from 2007 to 2017. Using the Auto-Regressive Distributed Lag (ARDL) model, the study found that foreign portfolio investment in bond stocks have a positive and significant influence on the Nigerian stock market performance at 5% level (t-stat= 2.91380, P= 0.0038<0.05; R 2 = 0.73). The study concludes that foreign portfolio investment in bond stocks significantly predict stock market performance in Nigeria, and therefore recommends that the market regulators need to further encourage foreign investments in bond stocks as this financial instruments do not attract much investment as equity stocks. Also, there is need for sound corporate governance and transparency as well as full disclosure of financial information by listed firms in order to increase the attraction of foreign portfolio investment in debt stocks to Nigeria.
It is a widely held belief that adequate and appropriate technology infrastructure may determine the rate at which Deposit Money Banks (DMBs) in Nigeria leverage e-commerce for financial sustainability. This study investigated the effect of e-commerce models on financial sustainability of DMBs in Akure, Ondo State, Nigeria. The study adopted the survey research design. A multistage sampling procedure was used to select 200 respondents to whom the questionnaires were administered. The primary data obtained were subjected to both validity and reliability tests. Financial sustainability (proxied by net income growth) was used as the dependent variable, while accessibility, availability and usability of e-commerce models were the independent variables. Using the mean score, the study found that consumer-to-consumer, business-to-consumer, and business-to-business e-commerce models were all rated high in terms of accessibility, availability and usability. A multiple linear regression analysis showed that e-commerce models’ accessibility (β =0.161, p = 0.176); availability (β =0.139, p = 0.141); and usability (β = -0.017, p=0.874) did not individually exert a significant effect on financial sustainability. However, accessibility, availability and usability of e-commerce models jointly exerted a significant positive effect [F (3, 130) =5.226; p= .002] on financial sustainability of DMBs at 1% level in the study area. The study concluded that e-commerce models matter towards financial sustainability of DMBs. Finally, the study recommended that the accessibility, availability, and usability of e-commerce models should be continually strengthened in order to enhance their joint effect on financial sustainability of DMBs. Furthermore, the management of DMBs should focus on other critical success factors for achieving financial sustainability of DMBs in the study area.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.