An Empirical Investigation On The Effect Of Macro Economic Factors On Stock Market Performance In Nigeria:- Ogbodo Okwudilichukwu E
ABSTRACT
The study empirically investigated the effect of
macroeconomic factors on stock market performance using time series datafrom
1995 to 2017. The macroeconomic factors considered were real gross domestic
product, money supply, exchange rate and interest rate, while stock market
performance was measured by all share index. Multiple regression analysis was
carried out on the data collected. The results showed that real gross domestic
product and money supply were positive and significant in affecting stock
market performance, while interest rate and exchange rate were insignificant.
It was recommended among other things Government should ensure that the economy
ofNigeria is well diversified by encouraging investments in other key economic
sectors so as to booststock marketperformance.
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OGBODO, E (2026). An Empirical Investigation On The Effect Of Macro Economic Factors On Stock Market Performance In Nigeria:- Ogbodo Okwudilichukwu E. Repository.mouau.edu.ng: Retrieved Feb 17, 2026, from https://repository.mouau.edu.ng/work/view/an-empirical-investigation-on-the-effect-of-macro-economic-factors-on-stock-market-performance-in-nigeria-ogbodo-okwudilichukwu-e-7-2
EMMANUEL, OGBODO. "An Empirical Investigation On The Effect Of Macro Economic Factors On Stock Market Performance In Nigeria:- Ogbodo Okwudilichukwu E" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 17 Feb. 2026, https://repository.mouau.edu.ng/work/view/an-empirical-investigation-on-the-effect-of-macro-economic-factors-on-stock-market-performance-in-nigeria-ogbodo-okwudilichukwu-e-7-2. Accessed 17 Feb. 2026.
EMMANUEL, OGBODO. "An Empirical Investigation On The Effect Of Macro Economic Factors On Stock Market Performance In Nigeria:- Ogbodo Okwudilichukwu E". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 17 Feb. 2026. Web. 17 Feb. 2026. < https://repository.mouau.edu.ng/work/view/an-empirical-investigation-on-the-effect-of-macro-economic-factors-on-stock-market-performance-in-nigeria-ogbodo-okwudilichukwu-e-7-2 >.
EMMANUEL, OGBODO. "An Empirical Investigation On The Effect Of Macro Economic Factors On Stock Market Performance In Nigeria:- Ogbodo Okwudilichukwu E" Repository.mouau.edu.ng (2026). Accessed 17 Feb. 2026. https://repository.mouau.edu.ng/work/view/an-empirical-investigation-on-the-effect-of-macro-economic-factors-on-stock-market-performance-in-nigeria-ogbodo-okwudilichukwu-e-7-2