{"id":22478,"date":"2025-11-20T16:24:04","date_gmt":"2025-11-20T16:24:04","guid":{"rendered":"https:\/\/journals.amssr.org\/grjbm\/?p=22478"},"modified":"2025-11-20T16:24:11","modified_gmt":"2025-11-20T16:24:11","slug":"effects-of-fluctuations-of-some-broad-fundamental-variables-of-nigeria-stocks-market-volatility","status":"publish","type":"post","link":"https:\/\/journals.amssr.org\/grjbm\/2025\/11\/20\/effects-of-fluctuations-of-some-broad-fundamental-variables-of-nigeria-stocks-market-volatility\/","title":{"rendered":"EFFECTS OF FLUCTUATIONS OF SOME BROAD FUNDAMENTAL VARIABLES OF NIGERIA STOCKS MARKET VOLATILITY"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">Download PDF<\/h2>\n\n\n\n<div data-wp-interactive=\"core\/file\" class=\"wp-block-file\"><object data-wp-bind--hidden=\"!state.hasPdfPreview\" hidden class=\"wp-block-file__embed\" data=\"https:\/\/journals.amssr.org\/grjbm\/wp-content\/uploads\/sites\/3\/2025\/11\/EFFECTS-OF-FLUCTUATIONS-OF-SOME-BROAD-FUNDAMENTAL-VARIABLES-OF-NIGERIA-STOCKS-MARKET-VOLATILITY-GRJBM-AMSSRN.docx.pdf\" type=\"application\/pdf\" style=\"width:100%;height:600px\" aria-label=\"Embed of EFFECTS OF FLUCTUATIONS OF SOME BROAD FUNDAMENTAL VARIABLES OF NIGERIA STOCKS MARKET VOLATILITY GRJBM AMSSRN.docx.\"><\/object><a id=\"wp-block-file--media-79fec797-c0b6-4d08-acba-6f924ebb58cc\" href=\"https:\/\/journals.amssr.org\/grjbm\/wp-content\/uploads\/sites\/3\/2025\/11\/EFFECTS-OF-FLUCTUATIONS-OF-SOME-BROAD-FUNDAMENTAL-VARIABLES-OF-NIGERIA-STOCKS-MARKET-VOLATILITY-GRJBM-AMSSRN.docx.pdf\">EFFECTS OF FLUCTUATIONS OF SOME BROAD FUNDAMENTAL VARIABLES OF NIGERIA STOCKS MARKET VOLATILITY GRJBM AMSSRN.docx<\/a><a href=\"https:\/\/journals.amssr.org\/grjbm\/wp-content\/uploads\/sites\/3\/2025\/11\/EFFECTS-OF-FLUCTUATIONS-OF-SOME-BROAD-FUNDAMENTAL-VARIABLES-OF-NIGERIA-STOCKS-MARKET-VOLATILITY-GRJBM-AMSSRN.docx.pdf\" class=\"wp-block-file__button wp-element-button\" download aria-describedby=\"wp-block-file--media-79fec797-c0b6-4d08-acba-6f924ebb58cc\">Download<\/a><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Authors:<\/h2>\n\n\n\n<ol class=\"wp-block-list\">\n<li>DR ONOMUHARA OKE GOODWIN\u00a0<\/li>\n<\/ol>\n\n\n\n<p>DEPARTMENT OF ACCOUNTING<\/p>\n\n\n\n<p>Faculty of Social and Management Sciences,&nbsp;<\/p>\n\n\n\n<p>Igbinedion University Okada<\/p>\n\n\n\n<p>2. DR YAHAYA SULE SUMAILA<\/p>\n\n\n\n<p>YAHAYA SULE &amp; CO<\/p>\n\n\n\n<p>Eguadase street, off Akpakpava Road, Benin City<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>ABSTRACT<\/strong><\/h2>\n\n\n\n<p>This study examined&nbsp; effects of Fluctuation Of some broad fundamental variables of Nigeria&nbsp; stocks market volatility.&nbsp; The study investigate if change in the level of Financial openness significantly lead to volatility in stock market price. It&#8217;s also examined if exchange rate Fluctuation significantly leads to stock market volatility. The study employed longitudinal research design, involved in the collection of day for any given variables..in conclusion, Stock market volatility tends to be sticky. This means that the volatility level over a certain period of time remains until some material change in fundamental variables (like inflation, financial openness and exchange rate) occur. This could lead to a heightened level of uncertainty in a country&#8217;s bourse. However, it must be noted that although volatility is a reflection of risk, it needs not necessarily be feared at normal levels; rather, it should be accepted as a necessary part of the risk and return relationship in organized capital markets world-wide. From our analysis, it was observed that inflation and financial openness have a positive but insignificant impact on stock price volatility while exchange rate has a negative and insignificant impact on stock price volatility. Therefore, Nigerian investors are advised not to significantly alter their asset allocation plan in response to short-term changes in volatility. They should also endeavour to review their long-term volatility expectations when engaged in any form of strategic asset allocation activity.<\/p>\n\n\n\n<p>Keywords&#8212; fundamental variables, market volatility, stock price,, exchange rate Fluctuation.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Bioblography<\/strong><\/h2>\n\n\n\n<p>Adam, M., Tweneboah, G. (2008). Macroeconomic factors and stock market movement: Evidence from Ghana. In Chinzara, Z. (2010). Macroeconomic<\/p>\n\n\n\n<p>Uncertainty and Emerging Market Stock Market Volatility: The Case of South<\/p>\n\n\n\n<p>Africa. Rhodes University Working Paper 187.<\/p>\n\n\n\n<p>Agenor, P. R., &amp; Montiel, P.K. (2008). Development Macroeconomics 3rd edition. New Jersey: Princeton University Press.<\/p>\n\n\n\n<p>Aliyu, U.R. (2011). Does inflation has an impact on stock price returns and volatility? Evidence from Nigeria and Ghana. 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Idiosyncratic risk does not matter: A re-examination of the Relationship between average returns and average volatilities. Journal of Banking and Finance, 29 (1), 603-621.<\/p>\n\n\n\n<p>Zakaria, Z., Shanmsuddin, S. (2012). Empirical Evidence on the relationship between Stock. Market Volatility and Macroeconomic Volatility in Malaysia. Journal of Business Studies Quarterly, 4(2), 61-71.<\/p>\n\n\n\n<p>Zulia E. (19&#8217;95). Stock Market Volatility and Corporate Investment. IMF Working Paper 5\/0.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Download PDF Authors: DEPARTMENT OF ACCOUNTING Faculty of Social and Management Sciences,&nbsp; Igbinedion University Okada 2. DR YAHAYA SULE SUMAILA YAHAYA SULE &amp; CO Eguadase street, off Akpakpava Road, Benin City ABSTRACT This study examined&nbsp; effects of Fluctuation Of some broad fundamental variables of Nigeria&nbsp; stocks market volatility.&nbsp; The study investigate if change in the level of Financial openness significantly lead to volatility in stock market price. It&#8217;s also examined if exchange rate Fluctuation significantly leads to stock market volatility. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":21662,"comment_status":"open","ping_status":"0","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,221,219],"tags":[],"class_list":["post-22478","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-grjbm","category-vol-5-issue-2","category-volume-5"],"_links":{"self":[{"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/posts\/22478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/comments?post=22478"}],"version-history":[{"count":1,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/posts\/22478\/revisions"}],"predecessor-version":[{"id":22480,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/posts\/22478\/revisions\/22480"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/media\/21662"}],"wp:attachment":[{"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/media?parent=22478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/categories?post=22478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/journals.amssr.org\/grjbm\/wp-json\/wp\/v2\/tags?post=22478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}