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Risk - Return Relationship: Nigerian Stock Market during Pre and Post 2007-2009 Financial Meltdown

Kamaldeen Ibraheem Nageri (), Azeez Tunbosun Lawal () and Falilat Ajoke Abdul

Academic Journal of Economic Studies, 2019, vol. 5, issue 2, 52-62

Abstract: Financial crises are economic phenomena often heralded by asset and credit booms or bubbles. This study examines risk-return relationship in the context of Nigeria during pre and post financial meltdown of 2007-2009. GARCH-in-mean models under three error distributional assumptions were used. The data span from January 2010 to December 2016. Findings shows negative risk- return relationship in the pre and post meltdown, indicting investor face higher risk in relation to return in the Nigerian stock market. The study recommended strict monitoring, restriction and regulations to discourage desperately optimistic noise (rumour) traders (investors) in the market, shorting to make money.

Keywords: Risk; return; financial meltdown (search for similar items in EconPapers)
JEL-codes: G01 G17 G32 (search for similar items in EconPapers)
Date: 2019
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Handle: RePEc:khe:scajes:v:5:y:2019:i:2:p:52-62