2020
DOI: 10.5430/ijfr.v11n2p323
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Impact of Foreign Direct Investment on the Financial Performance of Listed Deposit Banks in Nigeria

Abstract: In this study, we examine the impact of foreign direct investment (FDI) on the financial performance of Nigerian listed deposit banks. We collected secondary data from the annual reports and accounts of 14 banks between 2010 and 2017. We employed the Tobin Q quantitative method for the analysis. We adopted the theoretical framework of pecking order theory since the analysis of the impact of FDI on the financial performance of these banks are both inward and outward FDI. The Tobin Q method was used as the depen… Show more

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Cited by 19 publications
(16 citation statements)
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“…Data were collected annually across the sample period model from the Central Bank of Nigeria (CBN) statistical bulletin, Federal Inland Revenue Services and the National Bureau of Statistics (Lawal et al, 2016;Eluyela et al, 2018aEluyela et al, , 2018bAsaleye, Adama & Ogunjobi, 2018;Oladipo et al, 2019aOladipo et al, , 2019b. The outputs of the OLS regression is subjected to statistical tests which include R 2 , t-test, and F-test to determine the significance of each independent variable stated in the model (Adegboyegun et al, 2020b;Nwanji et al, 2020). Other tests used include the Unit Root test, Co-integration and Error Correction Model (Asaleye et al, 2019;Lawal et al, 2018;Eluyela et al, 2019aEluyela et al, , 2019b.…”
Section: Methodsmentioning
confidence: 99%
“…Data were collected annually across the sample period model from the Central Bank of Nigeria (CBN) statistical bulletin, Federal Inland Revenue Services and the National Bureau of Statistics (Lawal et al, 2016;Eluyela et al, 2018aEluyela et al, , 2018bAsaleye, Adama & Ogunjobi, 2018;Oladipo et al, 2019aOladipo et al, , 2019b. The outputs of the OLS regression is subjected to statistical tests which include R 2 , t-test, and F-test to determine the significance of each independent variable stated in the model (Adegboyegun et al, 2020b;Nwanji et al, 2020). Other tests used include the Unit Root test, Co-integration and Error Correction Model (Asaleye et al, 2019;Lawal et al, 2018;Eluyela et al, 2019aEluyela et al, , 2019b.…”
Section: Methodsmentioning
confidence: 99%
“…Panel data involves both cross-sectional and time-series method (Adegboyegun et al, 2020;Lawal, Babajide, Nwanji & Eluyela, 2018;Oladipo et al, 2019a;. Hence, this study adopts this method because the data gathered were both time-series and cross-sectional data (see Nwanji et al, 2020). Correlation analysis was carried out to observe the relationship between the independent and dependent variables (Adetula, Eluyela, Akomolafe, Ilogho and Adubi, 2016;Oladipo et al, 2019c).…”
Section: Methodsmentioning
confidence: 99%
“…It is widely regarded as the evaluation of the performance of the executive directors of the company by, or for, the company's stakeholder groups. Nwanji and Howell (2007) Corporate governance is also about guiding management through managing the affairs of the company leading to the achievement of the companies' objectives, whether those objectives are shareholdership or stakeholdership, as long as management keeps within the rules of the game (Friedman, 1970;Nwanji & Howell, 2005;Nwanji et al, 2020). Nwanji and Howell (2007) stated that:…”
Section: Corporate Governancementioning
confidence: 99%