Tag Archives: Stock Prices

Effect of Corporate Earnings on Stock Price of Selected Oil and Gas Companies in the Nigerian Stock Market (2004-2013) (Published)

The study was set out to examine the effect of corporate earnings on share price of selected oil and gas firms in the Nigerian Stock market from 2004-2013. The study adopted Ex-post facto research design. The data for this study were collected from Nigerian stock exchange fact book and published annual reports of the various companies through manual and online retrieval method. The data was analyzed individually and as a pool using multiple regression technique. The findings from the study showed that there is positive correlation and significant relationship between Earnings per share, Price earnings ratios, Dividend per share and Shares price of the selected oil and gas companies in Nigeria. It was recommended that investors should always engage experts when making investment decision to scrutinize the financial statements in order to help mitigate risks. Also, regulatory bodies should be more proactive in monitoring the activities of companies especially when quarterly earnings are announced as their effort will drastically improve the quality of the financial information disclose by management.

Keywords: Corporate Earnings, Oil and Gas Companies, Stock Prices

Effect of Corporate Earnings on Stock Price of Selected Oil and Gas Companies in the Nigerian Stock Market (2004-2013) (Published)

The study was set out to examine the effect of corporate earnings on share price of selected oil and gas firms in the Nigerian Stock market from 2004-2013. The study adopted Ex-post facto research design. The data for this study were collected from Nigerian stock exchange fact book and published annual reports of the various companies through manual and online retrieval method. The data was analyzed individually and as a pool using multiple regression technique. The findings from the study showed that there is positive correlation and significant relationship between Earnings per share, Price earnings ratios, Dividend per share and Shares price of the selected oil and gas companies in Nigeria. It was recommended that investors should always engage experts when making investment decision to scrutinize the financial statements in order to help mitigate risks. Also, regulatory bodies should be more proactive in monitoring the activities of companies especially when quarterly earnings are announced as their effort will drastically improve the quality of the financial information disclose by management.

 

Keywords: Corporate Earnings, Oil and Gas Companies, Stock Prices

Analysis of Macroeconomic Aggregates on Stock Prices in Nigeria: An Application of Co-Integration and Causality Tests 1985 – 2011 (Published)

This study examined the analysis of macroeconomic aggregates on stock prices using evidence from Nigeria Economy. The study investigated the nature of relationship between macroeconomic aggregates proxies by inflation rates, interest rates and money supply while All Share Index (ASI) standing as a proxy for Aggregates Stock Prices.. In course of this study, secondary data were sourced from the Central Bank of Nigeria statistical bulletin and the Nigerian stock exchange fact book. The Granger Causality Test and Johansen Co-integration Test in a Vector Error Correction Model (VECM) setting were employed. The descriptive analysis was also used to mirror their relationship. The empirical results demonstrate that changes in inflation rates, interest rates and money exert a significant impact on aggregate stock within the period understudy. The results also shows that where is a negative long-run relationship between inflation rates, interest rates and All Share Index while a positive significant relationship exist between money supply and aggregates stock prices. However, on the causality test, the study shows a unidirectional causality running from inflation to aggregates stock price and a bi-directional causality between money supply and aggregates stock prices. Therefore, we recommended that macroeconomic policy should be channeled towards improving aggregates stock prices which in turn enhance overall returns on stock market and the Nigerian economy at large.

Keywords: Co-integration, Macroeconomic Aggregates, Stock Prices