AN INVESTIGATION INTO THE DETERMINANTS OF STOCK MARKET RETURNS IN NIGERIA.

Augustine Olorunfemi  OBALEMO

AN INVESTIGATION INTO THE DETERMINANTS OF STOCK MARKET RETURNS IN NIGERIA.

Authors

Augustine Olorunfemi OBALEMO Accounting Department, Mewar International University Author

Keywords:

Stock Returns; Exchange Rate; Foreign Direct Investment; Money Supply; ARDL Model

Abstract

This study investigates the determinants of stock returns in Nigeria. The study relies on secondary data from Central Bank of Nigeria (CBN) Statistical Bulletin. Findings reveal that exchange rate has a positive significant effect on stock market return both in short and long run. The study recommends that CBN should consolidate on its sound monetary policies.