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The Sensitivity Of Sector Stock Returns To Exchange Rate Risks In Nigeria, M. A. Adebiyi, M. O. Abeng
The Sensitivity Of Sector Stock Returns To Exchange Rate Risks In Nigeria, M. A. Adebiyi, M. O. Abeng
Economic and Financial Review
Exchange rate exposure has been identified in the literature as one of the standard metrics for measuring the performance of stock returns in both advanced and developing economies. This study adopts the capital market approach in investigating the effects of exchange rate exposure on stock returns in Nigeria, using monthly data spanning 2009 to 2018. The findings show that three sector stock returns, namely the NSE30, pension and banking indices, were significantly vulnerable to nominal effective exchange rate and bilateral exchange rates shocks. The non-significance of energy sector, proxied by the oil and gas, to exchange rate risk, is puzzling, …
Financing State Government Projects Through The Capital Market: Problems And Prospects, B. S. Adebusuyi
Financing State Government Projects Through The Capital Market: Problems And Prospects, B. S. Adebusuyi
Economic and Financial Review
The paper discuses the problems and prospects of raising funds from the capital market to finance state government projects. The need for viable alternatives to finance government projeds had not only been a topical issue but one that had engaged the attention of policy makers. This has arisen because conventional sources of government project financing have been proving increasingly inadequate. From a short review of available options for financing government projects such as statutory allocations, internally generated revenue, bank and non-bank domestic borrowings, donations and taxation, the paper discusses the relative advantages of capital market financing of government projects, principal …