Efficiency of Pension Fund Investment in Shares, Bonds and Treasury Bills

Authors

  • Musa, Aliyu Bakar Department of Accounting, Taraba State University, Jalingo
  • Sani Usman Gurowa Ph.D University of Abuja, Abuja
  • Gabriel Olayinka FCA Department of Accounting, Taraba State University, Jalingo

Keywords:

Bonds, Return on pension investment, Shares, Treasury bills

Abstract

This research investigates the efficiency of pension fund assets investment in shares, bonds and treasury bills in Nigeria. The study is a time series analysis using ex-post factor research design with a population of 22 pension fund administrators (PFAs) in Nigeria. Secondary data were obtained from Pencom, CBN, NBS and NSE from 2006 to 2020 in the country. Linear regression analysis was used to estimate the data with SPSS- version 22. The finding reveals that, investment in shares and bonds has a positive and significant effect in return on the investment, with treasury bills recording insignificant returns. The researcher therefore, recommends that the pension fund administrators (PFAs) should focus more on the investment of shares and bonds and less on treasury bills.

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Published

2021-12-18

How to Cite

Musa, A. B., Gurowa, S. U., & Olayinka, G. (2021). Efficiency of Pension Fund Investment in Shares, Bonds and Treasury Bills . TSU-International Journal of Accounting and Finance, 1(1), 236–246. Retrieved from https://tsuijafc.k-publisher.com/index.php/tsuijaf/article/view/20

Issue

Vol. 1 No. 1 (2021): December, 2021

Section

Articles