Oil Price Shock and the Asymmetric Behavior of Stock Returns and Exchange

Rate of BRICS during Global Financial Crisis:

By

Shazia Kausar

CIIT/FA14-RMS-006/WAH

MS Thesis

In

Finance
COMSATS Institute of Information Technology

Wah Cantt- Pakistan

Fall, 2015
 COMSATS Institute of Information Technology

Oil Price Shock and the Asymmetric Behavior of Stock Returns and Exchange Rate of
BRICS during Global Financial Crisis:

A Thesis Presented to

COMSATS Institute of Information Technology, Wah Cantt

In partial fulfillment

of the requirement for the degree of

MS in Finance
By

Shazia Kausar

CIIT/FA14-RMS-006/WAH

Spring 2016
Oil Price Shock and the Asymmetric Behavior of Stock Returns and Exchange
Rate of BRICS during Global Financial Crisis:

A post Graduate Thesis submitted to the Department of Management Sciences as

partial fulfillment of the requirement for the award of Degree of MS Finance.

Name Registration Number

Shazia Kausar Ciit/FA14-RMS-006/WAH

Supervisor

Dr Ghulam Mujtaba

Assistant Professor, Department of Management Sciences

Wah Campus

Comsats Institute of Information Technology (CIIT)

Wah Campus

Spring, 2016
 Final Approval
This Thesis Titled

Oil Price Shock and the Asymmetric Behavior of Stock Returns and Exchange
Rate of BRICS during Global Financial Crisis:

By

Shazia Kausar

Ciit/FA14-RMS-006/WAH
Has been approved

For the COMSATS Institute of Information Technology,Wah Cantt

External Examiner:

Supervisor: Dr Ghulam Mujtaba Kayani

Management Sciences

HoD: Dr Samina Nawab

Management Sciences
 Declaration

I Shazia Kausar (FA14-RMS-006) hereby declare that I have produced the work presented in this thesis,
during the scheduled period of study. I also declare that I have not taken any material from any source
except referred to wherever due that amount of plagiarism is within acceptable range. If a violation of
HEC rules on research has occurred in this thesis, I shall be liable to punishable action under the
plagiarism rules of the HEC.

Date:

Signature of Student

Name: Shazia Kausar

FA14-RMS-006
 Certificate

It is certified that Shazia Kausar, FA14-RMS-006 has carried out all the work related to this thesis under
my supervision at the Department of Management Sciences, COMSATS Institute of Information
Technology, Wah Cantt and the work fulfills the requirement for award of MS degree.

Date:

Supervisor:

Dr. Ghulam Mujtaba

Assistant Professor

Head of Department

Dr. Samina Nawab

Management Sciences
 Dedication
I would like to pay deep regards to my parents who taught me the importance of
education. To my husband who’s affection and support encouraged me to cross all the barriers
one by one. To my siblings who are the hope of light in hard times, to my all friends and family
who are the reason I reached to this level and I would like to dedicate my research work to all
those people who believes in richness of knowledge.
 ACKNOWLEDGEMENTS

I would like to pay my high regards to my supervisor Dr. Ghulam Mujtaba whose continuous
guidance remained available for me throughout the course of my MS thesis. His kind and helping attitude
solved all my problems during thesis work.

Name: Shazia Kausar

FA14-RMS-006