Abstract:Abstract-The study investigates the impact of oil prices on firm level equity return in case of Pakistan over the period 1998-2014, as this relationship is neglected by the previous literature. By using the panel data estimation, the results of full sample indicate significant positive effect of oil price changes on firm equity returns in the same period, whereas, the lagged oil price changes have significant negative effect on firms' equity return. Moreover, the industry level analysis also confirms the simil… Show more
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