Stock prices in Nigeria unaffected by macroeconomic factors, profitability key for firms.
The study looked at how different economic factors affect the stock market in Nigeria. They used data from 1986 to 2015 and found that factors like GDP, money supply, interest rates, inflation, and exchange rates couldn't predict stock market performance. This means that stock prices in Nigeria don't really depend on these economic factors. The researchers suggest that companies should focus on making more money to attract investors and increase their value. Future studies should look into which economic factors actually do impact the stock market positively in Nigeria.