Volatility Modelling of Stock Returns of Selected Nigerian Oil and Gas Companies
Maruf Ariyo Raheem,
Regina Domingo Mbeke,
Elisha John Inyang
Issue:
Volume 11, Issue 2, April 2023
Pages:
26-36
Received:
7 July 2023
Accepted:
31 July 2023
Published:
15 August 2023
Abstract: Modelling volatility asset returns is a well-researched concept in financial statistics, given its significance to investment analysts, economists, risk-averse investors, policymakers and other relevant stakeholders to underpin the market and the general economic performance and resilience to shocks, domestically and internationally. Thus, this study fits an appropriate ARCH/GARCH family model to daily stock returns volatility of each of the selected five most traded assets of the oil and gas marketing companies on the Nigerian stock exchange (NSE), using daily closing prices from January 1, 2005, to December 31, 2020. First-order symmetric and asymmetric volatility models with the Normal, Student’s t, Skewed Student’s t and generalized error distributions (GED) were fitted to select the best model with the most appropriate error distribution using appropriate model selection criteri EGARCH (1,1) with GEDs was found to be the best-fitted models based on the Akaike Information Criterion (AIC). The results indicated the presence of a leverage effect in the series and how the volatility reacts to good news as against bad news implying that positive shock has a higher impact on the returns of the respective companies. Based on the findings it is recommended that, for enhanced precision, GARCH family models with appropriate error distribution be applied in underpinning assets volatility, which in turn would help to better understand the nature of inherent shocks characterizing asset volatility of the respective companies. With such knowledge, appropriate investment decisions are made to guide risk-averse investors in their investments.
Abstract: Modelling volatility asset returns is a well-researched concept in financial statistics, given its significance to investment analysts, economists, risk-averse investors, policymakers and other relevant stakeholders to underpin the market and the general economic performance and resilience to shocks, domestically and internationally. Thus, this stu...
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Empowerment Through Skill Acquisition and Its Impact on ART Adherence Among HIV-Positive Adults in Lagos, Nigeria during the COVID-19 Pandemic
Kazeem Adewale Osuolale,
Adesola Zaidat Musa,
Ifeoma Idigbe,
Ozichu Sabdat Ekama,
Wasiu Ademola Adekunle,
Abideen Olurotimi Salako,
Oluchukwu Nkem Iwegbu,
Abdulrasheed Oladele Oba,
Wakilat Afolashade Tijani,
Oliver Chukwujekwu Ezechi,
Babatunde Lawal Salako
Issue:
Volume 11, Issue 2, April 2023
Pages:
37-43
Received:
5 September 2023
Accepted:
20 September 2023
Published:
9 October 2023
Abstract: This study investigates the impact of a skill acquisition intervention on Antiretroviral Therapy (ART) adherence among HIV-positive adults in Lagos, Nigeria during the COVID-19 pandemic. The research explores demographic characteristics, changes in adherence rates before and after the intervention and the effectiveness of the intervention. A total of 50 participants were divided into experimental and control groups. Demographic data, including age, gender, income, and education were collected. ART adherence was measured before and after the intervention. Statistical analysis included descriptive statistics, Wilcoxon signed ranks tests and Mann-Whitney U tests. Before the intervention, the control group exhibited higher ART adherence rates compared to the experimental group. However, both groups showed significant improvements in adherence after the intervention. The intervention effectively narrowed the adherence gap between the groups. Wilcoxon signed ranks tests confirmed significant improvements in adherence in both groups before and after the intervention. Mann-Whitney U test results indicated that before the intervention, the control group had higher ART adherence rates compared to the experimental group. However, after the intervention, the Mann-Whitney U test revealed a significant difference in ART adherence between the experimental and control groups. The experimental group had higher adherence rates after the intervention compared to the control group. This study highlights the positive impact of skill acquisition interventions on ART adherence among HIV-positive adults in Lagos, Nigeria. The intervention effectively improved adherence rates and reduced disparities between groups. These findings emphasize the importance of scaling up similar interventions in HIV care programmes. However, future research with larger samples and longer follow-up periods is recommended to validate and expand on these results.
Abstract: This study investigates the impact of a skill acquisition intervention on Antiretroviral Therapy (ART) adherence among HIV-positive adults in Lagos, Nigeria during the COVID-19 pandemic. The research explores demographic characteristics, changes in adherence rates before and after the intervention and the effectiveness of the intervention. A total ...
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