Overdependence on oil revenue has exposed the economy to shocks from oil price variations. In this paper, we investigated the relationship between oil price on the stock prices of oil and gas firms quoted in the Nigerian Stock Exchange market. In doing so, the ARDL and NARDL approach is applied...

This study analyzes oil price exposure of the oil-gas sector stock returns for the fragile five countries based on a multi-factor asset pricing model using daily data from 29 May 1996 to 27 January 2020. The endogenous structural break test suggests the presence of serious parameter...