ナイジェリア新興金融市場における持続可能な投資戦略の分析
Analysis of Sustainable Investment Strategies on Emerging Financial Markets in Nigeria (原題)
Kimise-ebi Bunu
🤖 gxceed AI 要約
日本語
ナイジェリアの株式市場を対象に、気候ファイナンス・再生可能エネルギー・アグリビジネス・FDIへの投資が市場パフォーマンス（時価総額）に与える影響を1994〜2025年の年次データで分析。アグリビジネスと再エネ投資は有意に正、気候ファイナンス投資は有意に負、FDIは負で非有意。気候関連資金が資本市場へ効率的に波及していない可能性を示唆する。
English
Using 1994–2025 Nigerian data, the study regresses stock market capitalization on climate finance, renewable energy share, agribusiness investment, and FDI. Agribusiness and renewable energy investment show significant positive effects, while climate finance investment is significantly negative, suggesting weak transmission of climate funds into capital markets. FDI is negative and insignificant.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本企業・投資家にとって直接の実務示唆は限定的だが、新興国での気候ファイナンスと資本市場の断絶は、トランジションファイナンスの途上国展開を検討する日本の金融機関にとって参考になる。
In the global GX context
Adds emerging-market evidence to the global transition finance debate: climate finance flows do not automatically translate into capital market development, a caution relevant to ISSB-aligned disclosure and blended finance design in developing economies.
👥 読者別の含意
🔬研究者:新興国におけるサステナブル投資と市場パフォーマンスの関係を単一国時系列で示す実証例として参照可能。
🏢実務担当者:途上国サプライチェーンや新興国投資を検討する企業にとって、気候資金の市場波及の弱さを示す参考情報。
🏛政策担当者:気候ファイナンスの資本市場への伝達経路の整備が政策課題であることを示唆。
📄 Abstract（原文）
This study examined the impact of sustainable investment strategies on emerging financial markets in Nigeria, with specific focus on the stock market. The study is motivated by the growing global emphasis on sustainability and the limited empirical evidence on how sustainability-oriented investments influence financial market development in emerging economies. Annual time series data covering the period from 1994 to 2025 were sourced from the Central Bank of Nigeria Statistical Bulletin and the OECD Climate Finance Database. Stock market capitalization was used as a proxy for emerging financial market performance, while sustainable investment strategies were captured through investment in climate financing, renewable energy measured by the percentage of electricity generated from renewable sources, agribusiness investment, and foreign direct investment. The study employed descriptive statistics and Ordinary Least Squares regression techniques to analyse the data. The findings reveal that investment in agribusinesses and renewable energy has positive and statistically significant effects on stock market capitalization, indicating that these forms of sustainable investment enhance market performance. Investment in climate financing shows a statistically significant but negative relationship with stock market performance, suggesting inefficiencies in the transmission of climate related funds to capital market activities. Foreign direct investment was found to have a negative and statistically insignificant effect on the stock market. The study concludes that sustainable investment strategies have differential effects on Nigeria’s emerging financial market and recommends policies that strengthen the integration of sustainability driven investments into the stock market framework to enhance long term market development.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.56201/wjfir.v10.no9.2026.pg.27.48first seen 2026-10-31 04:48:18 · last seen 2026-11-06 04:35:43
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