Keywords
Investment Behaviour
Financial News
Nigerian Investors
Information Asymmetry
Abstract
This study investigates the influence of Channels Television’s financial news coverage on investment behaviour among Nigerian investors, adopting a macroeconomic perspective. Specifically, it examines how media financial coverage, credibility, and dissemination of macroeconomic information such as exchange rates, inflation trends, and stock market performance affect investor decision-making, market participation, portfolio allocation, and risk perception. The study employed a survey design, collecting primary data from 643 investors across retail, institutional, and forex trading segments. Data were analysed using logit regression models to assess the impact of media exposure and related factors on investment outcomes. The findings reveal that media financial coverage and credibility significantly influence investor decision-making, while exposure to macroeconomic information strongly affects investment choices. Additionally, financial news dissemination, investor attention, and risk perception are critical determinants of active market participation and portfolio allocation. The results underscore the role of media as a conduit for financial information, enhancing informed decision-making and reducing information asymmetry in Nigeria’s financial markets. Based on these findings, the study recommends improving the frequency and credibility of financial news, promoting investor education, and tailoring media content to different investor categories. The study contributes to the literature on media economics and investment behaviour, highlighting the intersection between media exposure and economic decision-making in emerging markets.
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