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首页> 外文期刊>Research Journal of Finance and Accounting >Effect of Oil Price Movement on Stock Prices in the Nigerian Equity Market
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Effect of Oil Price Movement on Stock Prices in the Nigerian Equity Market

机译：石油价格走势对尼日利亚股票市场中股票价格的影响

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This paper studies the relationship between oil prices and stock prices in the Nigerian equity market using a forecasting framework. The study was driven by the need to determine if the extreme volatility observed in oil prices has any significant impact on the stock price movement of a major oil exporting economy like the Nigeria. By establishing the presence of a significant relationship between these variables, investors and policymakers alike could use oil prices as a leading indicator in producing more accurate projections of stock prices. While the results of this study recorded no cointegration between stock prices and oil prices, the use of an ARIMA and a structural-ARIMA model showed that oil price is a significant exogenous variable which could improve the accuracy of stock price prediction in the Nigerian stock market by an extent.
机译：本文使用预测框架研究了尼日利亚股票市场中石油价格与股票价格之间的关系。该研究的驱动力是需要确定油价中观察到的极端波动是否会对像尼日利亚这样的主要石油出口经济体的股价走势产生重大影响。通过确定这些变量之间存在显着的关系，投资者和政策制定者都可以将油价作为主要指标，以更准确地预测股票价格。虽然这项研究的结果表明股票价格与石油价格之间没有协整关系，但使用ARIMA和结构化ARIMA模型表明，石油价格是一个重要的外生变量，可以提高尼日利亚股票市场中股票价格预测的准确性在一定程度上。

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