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Table 8 Impulse response of oil stock price return to oil price shock for all companies

From: Brent prices and oil stock behaviors: evidence from Nigerian listed oil stocks

Period

Price return (spr t )

Oil shock (os t )

1

0.264849 (0.00130)

0.000000 (0.00000)

2

−0.209387 (0.00238)

0.001634 (0.00260)

3

−0.002976 (0.00265)

−0.003339 (0.00282)

4

−0.018838 (0.00243)

0.002875 (0.00273)

5

0.018659 (0.00273)

−0.000433 (0.00272)

6

−0.012607 (0.00294)

0.000665 (0.00300)

7

0.007876 (0.00280)

0.008057 (0.00297)

8

0.002949 (0.00304)

−0.005716 (0.00306)

9

0.028356 (0.00294)

0.000861 (0.00288)

10

−0.004433 (0.00268)

−0.002105 (0.00206)

11

−0.015924 (0.00137)

0.000332 (0.00046)

12

−0.004413 (0.00074)

−0.000478 (0.00043)

13

0.001002 (0.00075)

0.000905 (0.00047)

14

0.000125 (0.00068)

−0.000132 (0.00038)

15

5.47E-05 (0.00056)

0.001063 (0.00034)

16

0.001777 (0.00059)

−0.000184 (0.00033)

17

0.003538 (0.00061)

−0.000314 (0.00031)

18

0.001444 (0.00054)

−0.000294 (0.00018)

19

−0.002263 (0.00025)

−8.21E-05 (0.00016)

20

−0.001906 (0.00026)

−4.57E-05 (6.4E-05)