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Macroeconomics Variables and Stock Market Performance in Nigeria

Author

Listed:
  • Gibson L.K. Daasi
  • Favour Amarachi Dimoji
  • Alobari Collins
  • Zukbee Sira

Abstract

This study was motivated by the fact that macroeconomic variables could exert stocks on share returns and influence investors, investment digression which could be a motivation to investigate the relation between stock market performance and macroeconomic variables. The purpose of the paper therefore is to investigate the relationship between macroeconomic variables and stock market performance in Nigeria. Using data from Nigerian Stock Exchange fact books and Central Bank of Nigeria statistical bulletin which denote secondary data analysis, the effect of macroeconomic variable on stock market performance in Nigeria was examined. The regression results showed a strong relationship between macroeconomic variables and stock market performance in Nigeria. It thus becomes obvious that Nigeria stock market might be very sensitive to macroeconomic factors given the sizeable proper train of stock market capitalization as a share of the country’s GDP. The paper draws policy implication for the findings and made useful recommendations at the end of the paper.

Suggested Citation

  • Gibson L.K. Daasi & Favour Amarachi Dimoji & Alobari Collins & Zukbee Sira, 2015. "Macroeconomics Variables and Stock Market Performance in Nigeria," International Journal of Empirical Finance, Research Academy of Social Sciences, vol. 4(5), pages 312-317.
    • Handle: RePEc:rss:jnljef:v4i5p6
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    References listed on IDEAS

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    1. Raza, Syed Ali & Raza, Syed Aoun & Zia, Abassi, 2011. "Equity mutual funds performance in Pakistan: risk & return analysis," MPRA Paper 36804, University Library of Munich, Germany.
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    Cited by:

    1. Nawal Hussein Abbas Elhussein & Elzibeer Fath Elrahman Hamed Warag, 2020. "Economic Forces and the Stock Market Performance in Developing Countries: Evidence From Sudan," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(4), pages 130-143, July.

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