SENIBI, ESTHER JOHNSON and Covenant University, Theses (2015) SELECTED MACROECONOMIC VARIABLES AND STOCK PRICE MOVEMENT IN NIGERIA (1985-2014). Masters thesis, COVENANT UNIVERSITY.
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Abstract
This study assesses the relevance of selected macroeconomic variables in predicting the trends of stock prices by employing evidences from the Nigerian economy. Estimation techniques such as Vector Error Correction Technique, Phillip Peron’s unit root test, Johansen Co-integration techniques were employed to investigate both the long run and short run relationship of macroeconomic variables on stock prices (Share Index), Granger Casualty Test was carried out to determine the casual effect macroeconomic variables have on share prices. Data were collated from the CBN bulletin. The empirical results demonstrated that only changes in oil price, inflation and exchange rate can exact significant influence on share prices while others showed no significant influence, although inflation and oil price had an insignificant relationship with share price. The Granger Casualty test showed o casual effect between macroeconomic variables and share prices. Therefore, the study recommends based on conclusion that movements in macroeconomic variables is significant to dictate activities of stock prices in Nigeria.
| Item Type: | Thesis (Masters) |
|---|---|
| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HG Finance H Social Sciences > HJ Public Finance |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Social Sciences |
| Depositing User: | Mrs Hannah Akinwumi |
| Date Deposited: | 25 Jun 2020 09:42 |
| Last Modified: | 25 Jun 2020 09:42 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/13414 |
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