The identification of the forces that drive oil stock prices is extremely important given the size of the Oil … focus on the long-run financial determinants of the stock prices of six major oil companies (Bp, Chevron-Texaco, Eni, Exxon … oil stock prices are analyzed together with the relevant stock market indexes, exchange rates, spot and future oil prices …

) stock prices was reached, the real S&P 500 exceeded the upper band of the 95 p.c. confidence intervals during both periods …. For each of them, the Q model showed earlier and more persistent signals of significant overvaluation of stock prices than …

increase of roughly 1 percent in the level of stock prices, as measured by the CRSP value-weighted index. There is some … reversal in the direction of rate changes. The estimated response of stock prices to fund rate surprises varies widely across … Campbell (1991) and Campbell and Ammer (1993), we find that most of the effect of monetary policy on stock prices can be traced …

The identification of the forces that drive oil stock prices is extremely important given the size of the Oil … focus on the long-run financial determinants of the stock prices of six major oil companies (Bp, Chevron-Texaco, Eni, Exxon … oil stock prices are analyzed together with the relevant stock market indexes, exchange rates, spot and future oil prices …

. More recently a number of other channels have been identified, in particular the signalling channel which sees stock prices … empirically. This paper makes a contribution to this question by distinguishing between the effects of changes in stock prices … driven by fundamentals and those driven by speculation. Since these two components of stock prices cannot be observed they …