Table 6 Impulse response of stock price return to oil price shock per company
From: Brent prices and oil stock behaviors: evidence from Nigerian listed oil stocks
Period | Beco | Conoil | Eterna | Forte | Mobil | MRS | Oando | Total |
|---|---|---|---|---|---|---|---|---|
1 | 0.001833 (0.00132) | 0.000468 (0.00084) | 0.002703 (0.00187) | −0.00046 (0.00140) | 6.60E-05 (0.00076) | 0.001449 (0.00086) | 0.011079 (0.01567) | − 0.00025 (0.00063) |
2 | 0.001065 (0.00132) | 0.001206 (0.00086) | −0.000522 (0.00202) | − 0.00038 (0.00151) | − 0.00034 (0.00079) | − 0.00079 (0.00091) | − 0.02191 (0.02032) | 0.000827 (0.00065) |
3 | −2.83E-05 (6.8E-05) | − 0.000257 (0.00087) | 0.000557 (0.00204) | − 0.00094 (0.00152) | 0.001353 (0.00079) | 0.002315 (0.00093) | 0.013966 (0.02041) | 8.02E-05 (0.00065) |
4 | 1.58E-06 (4.0E-06) | − 0.000988 (0.00087) | − 0.00158 (0.00210) | − 0.00062 (0.00152) | −0.00028 (0.00079) | − 0.00061 (0.00093) | 0.001125 (0.02042) | −6.88E-05 (0.00016) |
5 | −6.50E-08 (2.3E-07) | 0.000186 (0.00087) | 0.000512 (0.00214) | 0.001735 (0.00153) | −0.00011 (0.00079) | 0.001415 (0.00095) | −0.0068 (0.02045) | 1.47E-05 (1.2E-05) |
6 | 2.98E-09 (1.3E-08) | 0.000791 (0.00087) | 0.000438 (0.00219) | −0.00089 (0.00154) | 0.000736 (0.00079) | −0.00013 (0.00095) | 0.052337 (0.02046) | 2.69E-06 (1.1E-05) |
7 | −1.31E-10 (6.8E-10) | 0.000696 (0.00087) | 0.001267 (0.00224) | 0.001211 (0.00155) | 0.001402 (0.00079) | 0.001939 (0.00096) | −0.04549 (0.02048) | −1.55E-06 (2.2E-06) |
8 | 5.86E-12 (3.5E-11) | −0.001102 (0.00088) | −0.00287 (0.00230) | − 0.00017 (0.00155) | −0.00014 (0.00079) | − 0.00131 (0.00096) | 0.024531 (0.02048) | 1.07E-07 (6.4E-07) |
9 | −2.60E-13 (1.8E-12) | 0.001328 (0.00088) | 0.001423 (0.00152) | 0.003284 (0.00156) | −5.11E-06 (0.00079) | 0.002382 (0.00097) | −0.01657 (0.02053) | 1.10E-07 (3.2E-07) |
10 | 1.16E-14 (9.0E-14) | −0.000428 (0.00031) | −0.001068 (0.00137) | − 0.00162 (0.00077) | 0.000115 (0.00024) | − 0.0011 (0.00052) | −0.00089 (0.01401) | −3.21E-08 (4.0E-08) |
11 | −5.16E-16 (4.4E-15) | 0.000317 (0.00026) | 0.001190 (0.00141) | 0.000920 (0.00054) | 0.000133 (0.00014) | 0.001279 (0.00043) | −0.00414 (0.00419) | −1.96E-09 (2.1E-08) |
12 | 2.29E-17 (2.2E-16) | −0.000211 (0.00021) | −0.000981 (0.00138) | − 0.00054 (0.00050) | −0.00016 (0.00013) | − 0.00074 (0.000)40 | 0.005861 (0.00414) | 3.00E-09 (7.0E-09) |
13 | −1.02E-18 (1.1E-17) | 0.000199 (0.00020) | 0.001051 (0.00139) | 0.000852 (0.00049) | 5.97E-05 (0.00012) | 0.001039 (0.00040) | −0.00049 (0.00402) | −4.63E-10 (8.4E-10) |
14 | 4.54E-20 (5.1E-19) | −0.000217 (0.00020) | −0.001217 (0.00137) | − 0.00062 (0.00047) | 0.000205 (0.00012) | − 0.00067 (0.00037) | 0.007287 (0.00378) | −1.47E-10 (6.5E-10) |
15 | −2.02E-21 (2.4E-20) | 0.000284 (2.4E-20) | 0.001251 (0.00132) | 0.000861 (0.00046) | 0.000118 (0.00011) | 0.000927 (0.00036) | −0.00166 (0.00355) | 6.87E-11 (1.4E-10) |
16 | 9.00E-23 (1.2E-21) | −0.000261 (0.00017) | −0.001095 (0.00124) | − 0.00054 (0.00039) | −6.96E-05 (0.00011) | −0.00069 (0.00033) | − 0.00148 (0.00306) | −2.56E-12 (3.2E-11) |
17 | −4.00E-24 (5.5E-23) | 0.000208 (0.00014) | 0.001000 (0.00119) | 0.000671 (0.00037) | 2.91E-05 (8.6E-05) | 0.000808 (0.00032) | −0.00076 (0.00285) | −5.02E-12 (1.7E-11) |
18 | 1.78E-25 (2.6E-24) | −0.000138 (0.00010) | −0.000987 (0.00116) | − 0.00052 (0.00030) | 3.68E-05 (5.7E-05) | − 0.00057 (0.00026) | −0.00191 (0.00190) | 1.26E-12 (2.4E-12) |
19 | −7.93E-27 (1.2E-25) | 0.000116 (8.9E-05) | 0.000958 (0.00113) | 0.000457 (0.00026) | −9.54E-06 (3.4E-05) | 0.000587 (0.00024) | −0.00055 (0.00172) | 1.43E-13 (1.2E-12) |
20 | 3.53E-28 (5.8E-27) | −9.89E-05 (7.9E-05) | −0.00094 (0.00110) | −0.00033 (0.00023) | −2.97E-05 (2.7E-05) | − 0.00044 (0.00021) | 0.000537 (0.00080) | −1.32E-13 (4.1E-13) |