Impact of Long-Run Exchange Rate Volatility on Stock Market Performance in Nigeria
Journal Title: International Journal of Management Sciences - Year 2014, Vol 2, Issue 2
Abstract
This study looks at the long-run effects of exchange rate on stock market performance in Nigeria between 1988 and 2012 using cointegration tests. A bi-variate model was specified and empirical results show a significant positive stock market performance to exchange rate on the short-run and a significant negative stock market performance to exchange rate on the long-run. The granger causality test shows a strong evidence that the causation runs from exchange rate to stock market performance, implying that variations in the Nigerian stock market is explained by exchange rate volatility.
Authors and Affiliations
Chigbu Emmanuel Ezeji
Keywords
Related Articles
- EP ID EP26775
- DOI -
- Views 318
- Downloads 7
Influencing Factors on Female Entrepreneurial Skills of Sindh
The scholars believe that the one of the most important requirements for development in 21 century is entrepreneurship and more attention to the needs of female. For this purpose, this paper aimed to identify factors i...
Explain the Impact of Organizational Factors Affecting Food Safety Performance Using Fuzzy Dematel
Organizational factors affecting safety performance not only affect the performance of the entire organization, but also the relationships between them and the decrease or increase of factors can affect other factors....
Flood Disaster and Mining Sector GDP Growth: The Case of Malaysia
Mining sector is one of a major sector of industrialized in many developing countries. Furthermore, many other major productive sectors of economy rely on the activities and output of mining sector. The sector of minin...
Innovativeness of Small and Medium-Sized Enterprises in Greece: An Empirical Investigation
Economic theories recognize the leading role of innovations in the process of economic growth. Undoubtedly investing in innovation is a challenge for all enterprises operating in the modern highly competitive environme...
Job Demands and Strain-Based Conflict among Nurses of Public Hospitals in Nigeria
Nurses of public hospitals in Nigeria, while carrying out their role functions are consistently faced with high job demands placing great claim on nurse’s energy and time. In the course of carrying out a role function,...