janet adelegan - Academia.edu (original) (raw)

Papers by janet adelegan

Research paper thumbnail of Foreign Direct Investment and Economic Growth in Nigeria: A Seemingly Unrelated Model

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Research paper thumbnail of Market Reactions to Dividend Initiations and Omissions on the Nigerian Stock Market

IBADAN JOURNAL OF THE SOCIAL SCIENCES

This study investigates price reactions to initiations and omissions of dividends using daily sto... more This study investigates price reactions to initiations and omissions of dividends using daily stock prices between 1990 and 1999, There are 127 cases of initiations and 146 cases of omissions of dividends. The study used the modified market model to analyse the short-run and the long-run market reactions to the events. The result shows that cumulative excess returns for samples of dividend initiations and omissions are significant from the day of announcements and omissions of dividends respectively until 30 days after the announcement. It points to the fact that dividend policy matters and share prices do react to dividend initiations and omissions in Nigeria. Consistent with prior literature, the study found that the magnitude of short-run price reactions to omissions is greater than reactions to initiations.

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Research paper thumbnail of Investment appraisal of the privatization of water supply in Nigeria

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Research paper thumbnail of Internal and External Governance Mechanisms: evidence from the UK insurance industry

Corporate Governance, 1999

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Research paper thumbnail of Board Changes and the Efficiency of the Nigerian Stock Market

Corporate Board: role, duties and composition, 2007

This study provides some evidence on shareholders wealth effects of management board changes in N... more This study provides some evidence on shareholders wealth effects of management board changes in Nigeria from 1997 to 2005. The study presents the total wealth effect and also distinguishes the wealth effects of announcements of new appointments, board resignations and retirements, death and mixed announcements.

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Research paper thumbnail of Can Regional Cross-listings Accelerate Stock Market Development? Empirical Evidence from Sub-Saharan Africa

IMF Working Papers, Dec 1, 2008

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Research paper thumbnail of Impact of Foreign Direct Investment on Economic Growth in Nigeria 1

Abstract J. ADELEGAN - FOREIGN DIRECT INVESTMENT For years, it has been dinned into the governm... more Abstract
J. ADELEGAN - FOREIGN DIRECT INVESTMENT
For years, it has been dinned into the governments of developing countries that
financial liberalization is essential for prosperity. Instead of discouraging foreign
investors, they were advised to open up so as to have access to global savings that
could be invested in order to grow fast.
This study examined the impact of foreign direct investment (FDI) inflows on
economic growth in Nigeria from 1970 to 1995 using a seemingly unrelated model.
It was discovered that there is a negative FDI - growth linkage in Nigeria.
The flow is not channeled towards productive use, rather it is used to supplement consumption, substitute for saving and devoted to the importation of consumer goods
and services at the expense of investments and exports.

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Research paper thumbnail of Can Regional Cross-Listings Accelerate Stock Market Development? Empirical Evidence from Sub-Saharan Africa

Social Science Research Network, 2008

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Research paper thumbnail of Impact of Democracy On Foreign Direct Investment and Economic Growth In Nigeria

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Research paper thumbnail of The Derivatives Market in South Africa

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Research paper thumbnail of Investment, Financial Factors and Flow Cash from Nigerian Panel Data

The Journal of African Development, 2009

The study investigates how the incidence and severity of information and agency problems vary acr... more The study investigates how the incidence and severity of information and agency problems vary across firms and over time in Nigeria, and assesses the differential effects on corporate investment. A reduced form q-cash flow model and interaction approach was adopted to examine the effects of firm size, age and industry specific characteristics on cash flow. The model was estimated using panel data for Nigerian manufacturing firms from 1984-2000. Financial effects are generally important for investment in all firms. However, the extent and impact of financial effects are not uniformly distributed. The study concludes that the effect of size is neutral; however, older firms tend to rely more on internal funds to finance their corporate investment than the newer firms. The effect of financial factors on investment varies across firms according to their industrial characteristics

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Research paper thumbnail of Foreign Direct Investment and Economic Growth in Nigeria: A Seemingly Unrelated Model

For years, it has been dinned into the governments of developing countries that financial liberal... more For years, it has been dinned into the governments of developing countries that financial liberalization is essential for prosperity. Instead of discouraging foreign investors, they were advised to open up so as to have access to global savings that could be invested in order to grow fast. This study examined the impact of foreign direct investment (FDI) inflows on economic growth in Nigeria from 1970 to 1995 using a seemingly unrelated model. It was discovered that there is a negative FDI - growth linkage in Nigeria. The flow is not channeled towards productive use, rather it is used to supplement consumption, substitute for saving and devoted to the importation of consumer goods and services at the expense of investments and exports. Pendant des années on a seriné aux gouvernements des pays en voie de développement que la libéralisation financière est essentielle pour la prosperité. Au lieu de décourager les investisseurs étrangers, on les a conseillé d'ouvrir leurs économies...

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Research paper thumbnail of The Pecking Order Hypothesis and Corporate Dividend Pay Out: Nigerian Evidence

African Review of Money Finance and Banking, 2002

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Research paper thumbnail of An Empirical Analysis of the Relationship between Cash Flow and Dividend Changes in Nigeria

African Development Review, 2003

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Research paper thumbnail of Infrastructure deficiencies and investment in manufacturing firms in Nigeria

Journal of economics and international finance, Sep 30, 2011

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Research paper thumbnail of Investment, Financial Factors and Cash Flow from Nigerian Panel Data

Journal of African Development, 2009

The study investigates how the incidence and severity of information and agency problems vary acr... more The study investigates how the incidence and severity of information and agency problems vary across firms and over time in Nigeria, and assesses the differential effects on corporate investment. A reduced form q-cash flow model and interaction approach was adopted to examine the effects of firm size, age and industry specific characteristics on cash flow. The model was estimated using panel data for Nigerian manufacturing firms from 1984-2000. Financial effects are generally important for investment in all firms. However, the extent and impact of financial effects are not uniformly distributed. The study concludes that the effect of size is neutral; however, older firms tend to rely more on internal funds to finance their corporate investment than the newer firms. The effect of financial factors on investment varies across firms according to their industrial characteristics.

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Research paper thumbnail of Factors Influencing the Choice of Climate Change Adaptation Strategies by Households: A Case of Mpolonjeni Area Development Programme (ADP) in Swaziland

Journal of Agricultural Studies, 2014

The increased involvement of food relief agencies nearly on an annual basis is a clear indication... more The increased involvement of food relief agencies nearly on an annual basis is a clear indication that agricultural production continues to decline as a result of climate change. In order to mitigate the negative effect of climate change, households engage on adaptation strategies. The extent to which these impacts are felt depends mostly on the level of adaptation in response to climate change. The main objectives of the study were to identify the adaptation strategies employed by households and to analyse factors influencing the choice of adaptation strategies by households using personal interviews. The study used data from a random sample of 350 households. Descriptive statistics and multinomial logistic regression model were used to analyse the data. The results showed that adaptation strategies employed were; drought tolerant varieties, switching crops, irrigation, crop rotation, mulching, minimum tillage, early planting, late planting and intercropping. The results showed tha...

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Research paper thumbnail of Firm performance around announcements of changes in corporate leadership: evidence from Nigeria

Ibadan Journal of the Social Sciences, 2009

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Research paper thumbnail of Vulnerability to coastal erosion in The Gambia: Empirical experience from Gunjur

International Journal of Disaster Risk Reduction, 2020

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Research paper thumbnail of Can Regional Cross-Listings Accelerate Stock Market Development? Empirical Evidence From Sub-Saharan Africa

IMF Working Papers, 2008

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Research paper thumbnail of Foreign Direct Investment and Economic Growth in Nigeria: A Seemingly Unrelated Model

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Market Reactions to Dividend Initiations and Omissions on the Nigerian Stock Market

IBADAN JOURNAL OF THE SOCIAL SCIENCES

This study investigates price reactions to initiations and omissions of dividends using daily sto... more This study investigates price reactions to initiations and omissions of dividends using daily stock prices between 1990 and 1999, There are 127 cases of initiations and 146 cases of omissions of dividends. The study used the modified market model to analyse the short-run and the long-run market reactions to the events. The result shows that cumulative excess returns for samples of dividend initiations and omissions are significant from the day of announcements and omissions of dividends respectively until 30 days after the announcement. It points to the fact that dividend policy matters and share prices do react to dividend initiations and omissions in Nigeria. Consistent with prior literature, the study found that the magnitude of short-run price reactions to omissions is greater than reactions to initiations.

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Investment appraisal of the privatization of water supply in Nigeria

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Internal and External Governance Mechanisms: evidence from the UK insurance industry

Corporate Governance, 1999

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Board Changes and the Efficiency of the Nigerian Stock Market

Corporate Board: role, duties and composition, 2007

This study provides some evidence on shareholders wealth effects of management board changes in N... more This study provides some evidence on shareholders wealth effects of management board changes in Nigeria from 1997 to 2005. The study presents the total wealth effect and also distinguishes the wealth effects of announcements of new appointments, board resignations and retirements, death and mixed announcements.

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Can Regional Cross-listings Accelerate Stock Market Development? Empirical Evidence from Sub-Saharan Africa

IMF Working Papers, Dec 1, 2008

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Impact of Foreign Direct Investment on Economic Growth in Nigeria 1

Abstract J. ADELEGAN - FOREIGN DIRECT INVESTMENT For years, it has been dinned into the governm... more Abstract
J. ADELEGAN - FOREIGN DIRECT INVESTMENT
For years, it has been dinned into the governments of developing countries that
financial liberalization is essential for prosperity. Instead of discouraging foreign
investors, they were advised to open up so as to have access to global savings that
could be invested in order to grow fast.
This study examined the impact of foreign direct investment (FDI) inflows on
economic growth in Nigeria from 1970 to 1995 using a seemingly unrelated model.
It was discovered that there is a negative FDI - growth linkage in Nigeria.
The flow is not channeled towards productive use, rather it is used to supplement consumption, substitute for saving and devoted to the importation of consumer goods
and services at the expense of investments and exports.

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Can Regional Cross-Listings Accelerate Stock Market Development? Empirical Evidence from Sub-Saharan Africa

Social Science Research Network, 2008

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Impact of Democracy On Foreign Direct Investment and Economic Growth In Nigeria

Bookmarks Related papers MentionsView impact

Research paper thumbnail of The Derivatives Market in South Africa

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Investment, Financial Factors and Flow Cash from Nigerian Panel Data

The Journal of African Development, 2009

The study investigates how the incidence and severity of information and agency problems vary acr... more The study investigates how the incidence and severity of information and agency problems vary across firms and over time in Nigeria, and assesses the differential effects on corporate investment. A reduced form q-cash flow model and interaction approach was adopted to examine the effects of firm size, age and industry specific characteristics on cash flow. The model was estimated using panel data for Nigerian manufacturing firms from 1984-2000. Financial effects are generally important for investment in all firms. However, the extent and impact of financial effects are not uniformly distributed. The study concludes that the effect of size is neutral; however, older firms tend to rely more on internal funds to finance their corporate investment than the newer firms. The effect of financial factors on investment varies across firms according to their industrial characteristics

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Foreign Direct Investment and Economic Growth in Nigeria: A Seemingly Unrelated Model

For years, it has been dinned into the governments of developing countries that financial liberal... more For years, it has been dinned into the governments of developing countries that financial liberalization is essential for prosperity. Instead of discouraging foreign investors, they were advised to open up so as to have access to global savings that could be invested in order to grow fast. This study examined the impact of foreign direct investment (FDI) inflows on economic growth in Nigeria from 1970 to 1995 using a seemingly unrelated model. It was discovered that there is a negative FDI - growth linkage in Nigeria. The flow is not channeled towards productive use, rather it is used to supplement consumption, substitute for saving and devoted to the importation of consumer goods and services at the expense of investments and exports. Pendant des années on a seriné aux gouvernements des pays en voie de développement que la libéralisation financière est essentielle pour la prosperité. Au lieu de décourager les investisseurs étrangers, on les a conseillé d'ouvrir leurs économies...

Bookmarks Related papers MentionsView impact

Research paper thumbnail of The Pecking Order Hypothesis and Corporate Dividend Pay Out: Nigerian Evidence

African Review of Money Finance and Banking, 2002

Bookmarks Related papers MentionsView impact

Research paper thumbnail of An Empirical Analysis of the Relationship between Cash Flow and Dividend Changes in Nigeria

African Development Review, 2003

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Infrastructure deficiencies and investment in manufacturing firms in Nigeria

Journal of economics and international finance, Sep 30, 2011

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Investment, Financial Factors and Cash Flow from Nigerian Panel Data

Journal of African Development, 2009

The study investigates how the incidence and severity of information and agency problems vary acr... more The study investigates how the incidence and severity of information and agency problems vary across firms and over time in Nigeria, and assesses the differential effects on corporate investment. A reduced form q-cash flow model and interaction approach was adopted to examine the effects of firm size, age and industry specific characteristics on cash flow. The model was estimated using panel data for Nigerian manufacturing firms from 1984-2000. Financial effects are generally important for investment in all firms. However, the extent and impact of financial effects are not uniformly distributed. The study concludes that the effect of size is neutral; however, older firms tend to rely more on internal funds to finance their corporate investment than the newer firms. The effect of financial factors on investment varies across firms according to their industrial characteristics.

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Factors Influencing the Choice of Climate Change Adaptation Strategies by Households: A Case of Mpolonjeni Area Development Programme (ADP) in Swaziland

Journal of Agricultural Studies, 2014

The increased involvement of food relief agencies nearly on an annual basis is a clear indication... more The increased involvement of food relief agencies nearly on an annual basis is a clear indication that agricultural production continues to decline as a result of climate change. In order to mitigate the negative effect of climate change, households engage on adaptation strategies. The extent to which these impacts are felt depends mostly on the level of adaptation in response to climate change. The main objectives of the study were to identify the adaptation strategies employed by households and to analyse factors influencing the choice of adaptation strategies by households using personal interviews. The study used data from a random sample of 350 households. Descriptive statistics and multinomial logistic regression model were used to analyse the data. The results showed that adaptation strategies employed were; drought tolerant varieties, switching crops, irrigation, crop rotation, mulching, minimum tillage, early planting, late planting and intercropping. The results showed tha...

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Firm performance around announcements of changes in corporate leadership: evidence from Nigeria

Ibadan Journal of the Social Sciences, 2009

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Vulnerability to coastal erosion in The Gambia: Empirical experience from Gunjur

International Journal of Disaster Risk Reduction, 2020

Bookmarks Related papers MentionsView impact

Research paper thumbnail of Can Regional Cross-Listings Accelerate Stock Market Development? Empirical Evidence From Sub-Saharan Africa

IMF Working Papers, 2008

Bookmarks Related papers MentionsView impact