Strategic impact of knowledge entrepreneurship on foreign direct investment in Nigeria

Abstract

The study investigated the strategic impact of knowledge entrepreneurship on Foreign Direct investment in Nigeria. This study examined the rate of foreign Direct Investment (FDI) in Nigeria because the country has witnessed massive downward sliding of foreign direct investment in recent times. To solve this problem, this study is aimed at ascertaining the nature of impact Knowledge entrepreneurship has on foreign direct investment. The study also investigated the cause of the massive downward sliding of foreign direct investment in Nigeria. This study adopted the survey design. Simple random sampling technique was used in selecting the 200 staff of selected foreign direct investment firms in Nigeria. Findings revealed that there is a positive and significant relationship between knowledge entrepreneurship and Foreign Direct investment in Nigeria. This means that the knowledge of Foreign Direct Investment opportunity in another country will accelerate the action of the entrepreneur in taking advantage of the opportunity to make profit in that country. This is in tandem with Knowledge Spillover Theory of Entrepreneurship. Knowledge entrepreneurship has the potency to attract foreign direct investment hence the positive and significant correlation. The study also found that knowledge entrepreneurship has resulted in technological transfer to Nigeria and employment generation as well as increased profitability and market share of the FDI operating in Nigeria.The study concludes that knowledge entrepreneurship is a viable business model in Nigeria and that the reason for the massive and downward sliding of Foreign Direct Investment in Nigeria currently is as a result of the national challenges of high insecurity and exchange rate volatility.