IMPACT OF OIL PRICE VOLATILITY ON THE VOLATILITY OF THE TRADING VOLUME OF THE NIGERIAN CAPITAL MARKET

Agbo, Elias Igwebuike (2020) IMPACT OF OIL PRICE VOLATILITY ON THE VOLATILITY OF THE TRADING VOLUME OF THE NIGERIAN CAPITAL MARKET. International Journal of Research in Management, 10 (2). pp. 1-22. ISSN 2249-5908

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Abstract

This study examines the effect of oil price volatility on the volatility of the trading volume in the Nigerian capital market using monthly frequency data that cover the period from January,1997 to December 2016. It employs the EGARCH [1,1] methodology for data analysis .Average monthly exchange rates and inflation rates are introduced as control variables The results of the the empirical analysis show that an asymmetric behavior is present and that there is volatility persistence They.suggest that oil price volatility has a negative and significant impact on the volatility of the trading volume in the Nigerian capital market. The results of the study suggest that market participants in Nigeria should target oil price fluctuations as an important means for predicting the volatility of Nigeria#s stock market performance.

Item Type: Article
Subjects: H Social Sciences > HF Commerce
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 03 Mar 2020 11:36
Last Modified: 03 Mar 2020 11:36
URI: http://eprints.gouni.edu.ng/id/eprint/2551

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