Stock Market Capitalization, Foreign Direct Investment and Stock Market Performance: A Comparative Study of Ghana and Nigeria
| Main Authors: | Prince Asare Vitenu-Sackey, Richard Barf, Stephen Oppong |
|---|---|
| Format: | Article eJournal |
| Bahasa: | eng |
| Terbitan: |
, 2019
|
| Subjects: | |
| Online Access: |
https://zenodo.org/record/3510087 |
Daftar Isi:
- the study assesses the impact of stock market capitalization and foreign direct investment in stock market performance for the period of 1996 to 2017 in a comparative study of Ghana and Nigeria. The study used both panel and time-series approaches and methodologies such as unit root tests, cointegration tests, vector error correction model, dynamic ordinary least square, generalized least square, multiple linear regression (random and fixed effects) models and granger causality tests to make its statistical inference. The study concludes that stock market capitalization and foreign direct investment have a negative impact on stock market performance in a panel study, but both have positive impact on stock market performance in Ghana and Nigeria respectively. The study recommends further look into the areas for validation