scholarly journals The Determinant of Equity Share Price and the Listed Deposit Money Banks in Nigeria

2019 ◽  
Vol 2 (2) ◽  
pp. 127-142
Author(s):  
Godwin Emmanuel Oyedokun ◽  
Olusegun Adebowale Arotolu ◽  
Harison Vincent
Keyword(s):  
Stock Exchange ◽  
Secondary Data ◽  
Least Square ◽  
Share Price ◽  
Annual Reports ◽  
Dividend Payout ◽  
Financial Variables ◽  
Ex Post ◽  
Price Earnings Ratio ◽  
Ex Post Facto

In this study, the researcher examined the financial variables influencing the share price of listed deposit money banks in Nigeria. An ex-post facto research design was employed with the population consisting of all fifteen (15) listed deposit money banks on the Nigeria Stock Exchange (NSE), and a sample of twelve (12) listed deposit money banks on NSE was taken using filter criteria and judgemental sampling techniques. Secondary data used were sourced from the annual reports of the sampled banks and GTI Securities Ltd. for five years period from 2013-2017. Ordinary Least Square (OLS) was used to analyze the data. The results of the multiple regression revealed that the dividend payout ratio and price-earnings ratio have a significant positive relationship with the share price. The results also showed that dividend yield has a significant negative association with share price; the book value per share has no meaningful relationship with the share price. This study recommends that the shareholders in the deposit money banks should be guided by industry financial ratios, especially the profitability measures of price-earnings ratio and dividend payout ratio, as they are critical factors in predicting share price behavior.

THE ROLE OF DIVIDEND POLICY IN DETERMINING THE MARKET VALUE OF SHARE OF LISTED INDUSTRIAL GOODS COMPANIES IN NIGERIA

2021 ◽  
Vol 9 (1) ◽  
pp. 7-19
Author(s):  
Muhammad Mustapha ◽  
◽  
Modu Buni ◽  
Abdullahi Idriss ◽  
◽  
...  
Keyword(s):  
Dividend Policy ◽  
Stock Exchange ◽  
Critical Evaluation ◽  
Market Value ◽  
Share Price ◽  
Annual Reports ◽  
Dividend Yield ◽  
Dividend Payout ◽  
Ex Post

This study examines the role of dividend policy in determining the market value of share of listed industrial goods companies in Nigeria, the research design used as a guide is ex-post facto method, as the study entails the use of annual reports and accounts of listed industrial goods companies in the Nigerian Stock Exchange (NSE). The secondary data were sourced from the company’s financial report for the period of five years from 2013 to 2017 contained in company’s annual reports and account and all were used to compute the dependent variable (share price) while dividend payout ratio and dividend yield as proxies of independent variable respectively. Regression analysis is use establish the relationship between the variables by using Statistical Software (SPSS). The result showed that there is no positive significant relationship between dividend payout ratio, dividend yield and share price of listed industrial goods companies in the Nigeria. Based on findings the study recommends that the existing investors in the Nigerian industrial goods sector should from time to time; ensure extensive and critical evaluation of dividend policy as it can significantly influence their market value which has ultimate effect on the investments.

scholarly journals VALUE RELEVANCE OF ACCOUNTING INFORMATION AND SHARE PRICE: AN EMPIRICAL STUDY ON MANUFACTURING FIRMS IN NIGERIA

2020 ◽  
pp. 64-77
Author(s):  
OC Ogbodo ◽  
Benjamin Osisioma
Keyword(s):  
Value Relevance ◽  
Stock Exchange ◽  
Accounting Information ◽  
Manufacturing Firms ◽  
Least Square ◽  
Share Price ◽  
Manufacturing Companies ◽  
Causality Test ◽  
Ex Post ◽  
Ex Post Facto

This study assessed the relationship between the value relevance of accounting information and share price with a focus on manufacturing companies listed on the Nigerian Stock Exchange (NSE). The Ex-post facto research design was used. Ordinary Least Square (OLS) regression analysis and Granger Causality test was used to test the hypothesis with the aid of E-View 9.0. The results of this study revealed that there is a significant positive relationship between Dividend per Share and the Share Price. The researcher recommends among others that standard setters, the stock market regulators and listed manufacturing firms in Nigeria should continuously devise ways of improving the quality of accounting information published in financial statements to maintain and increase their value relevance to the investors and other stakeholders.

scholarly journals Dividend Policy and Share Price Volatility of Nigerian Oil and Gas Industries

2018 ◽  
Vol 6 (1) ◽  
pp. 17-29
Author(s):  
Adamu Idi
Keyword(s):  
Dividend Policy ◽  
Oil And Gas ◽  
Stock Exchange ◽  
Price Volatility ◽  
Secondary Data ◽  
Share Price ◽  
Dividend Payment ◽  
Ex Post ◽  
Ex Post Facto ◽  
A Company

This work aimed at assessing the Effect of dividend policy on share price volatility of downstream sector of Oil and Gas Company in Nigeria. The population of the study comprised all the twelve (12) quoted oil and gas downstream sector on the Nigerian Stock Exchange as o December 2016, it covered the period of 5 years from 2011 to 2015. Four (4) companies were selected as sample due to the availability of data. The study employed ex-post facto research design; secondary data were collected from a sample of the study. The descriptive statistic, diagnostic test, correlation and multiple regressions were employed. The study found that dividend policy affects the share price volatility significantly. This result supports the Gordon Theory of dividend, which asserts that dividend payment is relevant and affects the share price of a company.

scholarly journals Impact of Financial Variables on Share Price of Selected Indian Automobile Companies

2020 ◽  
Vol 4 (6) ◽  
pp. 146-149
Keyword(s):  
Stock Exchange ◽  
Secondary Data ◽  
Share Price ◽  
Annual Reports ◽  
Market Capitalization ◽  
Share Prices ◽  
Financial Variables ◽  
Turnover Ratio ◽  
The Impact

This study has been conducted to analyze and compare the impact of financial variables on share price of Indian automobile companies. Companies have been selected on the basis of market capitalization. Secondary data has been considered for this study. Secondary data has been collected from annual reports of companies for the financial years 2013-14 to 2017-18 and share prices from the website of Bombay Stock Exchange. Impact has been examined with the help of correlation and regression. Findings of this study shows that Maruti Suzuki India Ltd. share price has been affected by the financial variables. In case of other companies impact of financial variables on share price vary from companies to companies. It has also been found out that there is no significant impact of assets turnover ratio on share price of all selected automobile companies.

scholarly journals Determinants of Share Price of Nepalese Commercial Banks

2016 ◽  
pp. 187-198 ◽  
Author(s):  
Yuga Raj Bhattarai
Keyword(s):  
Commercial Banks ◽  
Stock Exchange ◽  
Positive Association ◽  
Share Price ◽  
Annual Reports ◽  
Inverse Association ◽  
Dividend Yield ◽  
Significant Positive Association ◽  
Price Earnings Ratio ◽  
Economic Journal

This study examines the determinants of share price of commercial banks listed on the Nepal Stock Exchange Limited over the period of 2006 to 2014. Data were sourced from the annual reports of the sampled banks and analyzed using regression model. The results revealed that earning per share and price- earnings ratios have the significant positive association with share price while dividend yield showed the significant inverse association with share price. The major conclusion of the study is that dividend yield, earning per share and price-earnings ratio are the most influencing factors in determining share price in Nepalese commercial banks. Economic Journal of Development Issues Vol. 17 & 18 No. 1-2 (2014) Combined Issue,Page: 187-198

scholarly journals Capital Market Performance as a Panacea for Economic Growth in Nigeria

2019 ◽  
Vol 13 (2) ◽  
pp. 1
Author(s):  
Akpokerere Othuke Emmanuel ◽  
Okoroyibo Eloho Elizabeth
Keyword(s):  
Economic Growth ◽  
Capital Market ◽  
Stock Exchange ◽  
Market Performance ◽  
Secondary Data ◽  
Least Square ◽  
Ex Post ◽  
Ordinary Least Square Regression ◽  
Market Variables ◽  
The Capital Market

The paper examined capital market performance as a panacea for economic growth in Nigeria from 1986-2016. A number of related literatures have shown that the Nigerian capital market variables studied has satisfactory market performance and has contributed to economic growth. Yet some researchers observed that the capital market has not significantly mobilized and effectively channeled substantial capital to the real sector of the economy. What could have been the reason for the divergences? The study was anchored on the demand following hypothesis. Secondary data were sourced from Central Bank of Nigeria Statistical Bulletin and Nigeria Stock Exchange fact-book of various editions. The paper adopted the ex-post facto research design while ordinary least square regression techniques was used to process the data gathered using E-views 9.0 software. The null hypotheses (Ho) were tested at 5% level of significance. The findings of the paper revealed that there is negative and insignificant relationship between capital market and the variables studied. The paper conclude that liquidity of the capital market is pivotal for economic growth in Nigeria while the study recommended that all tiers of government should be encouraged to fund their realistic long term developmental program through the Nigeria capital market.

scholarly journals Optimizing Return on Assets through Investment in Property, Plant and Equipment: Evidence from Listed Nigerian Manufacturing Companies

2020 ◽  
Vol 4 (10) ◽  
pp. 50-57
Keyword(s):  
Portfolio Management ◽  
Stock Exchange ◽  
Secondary Data ◽  
Growth Options ◽  
Manufacturing Companies ◽  
Return On Assets ◽  
Correlational Research ◽  
Ex Post ◽  
Ex Post Facto ◽  
Level Of Significance

This study examined the extent to which investment in property, plant & equipment (PPE) made by listed manufacturing companies in Nigeria relate with the return on assets (ROA). The non-usage of composite appraisal techniques, other than traditional budgeting techniques was seen as a major problem of investment decisions on PPE. The study adopted the quantitative panel methodology of the ex post facto and correlational research design. Secondary data were extracted from the fact books of the Nigerian Stock Exchange for the period, 2013 – 2018. The number of manufacturing companies listed in the Stock Exchange during this period was 83, which was also taken as the population of the study. The sample used in the study was 69. Three hypotheses were tested at 0.05 level of significance. Multiple and simple regression analyses were used on the data collected, to find the relationship between the independent and dependent variables. The hypotheses tested indicated in the findings that property, plant and equipment had a significant relationship with return on assets of listed manufacturing firms in Nigeria when there is a joint relationship between variables of property, plant & equipment (PPE) and return on asset (ROA). Based on the findings and conclusion, it was recommended that management of manufacturing companies should ensure a holistic use of all techniques, exploring the real and growth options analyses as well as portfolio management techniques involving productive non-current assets, to earn the benefit of return on assets invested.

scholarly journals The Effect of Working Capital Turnover on Company Liquidity at PT. Gudamg Garam, Tbk (Case study on the Indonesian stock exchange) (2007 – 2011

2021 ◽  
Author(s):  
endang naryono
Keyword(s):  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Positive Influence ◽  
Primary Data ◽  
Working Capital ◽  
Financial Reports ◽  
Ex Post ◽  
Ex Post Facto

This study aims to determine the working capital turnover of PT Gudang Garam, the development of the company's performance at PT Gudang Garam, and to determine the effect of working capital turnover on the company's performance at PT Gudang Garam, Tbk. The research method used is the ex-post facto method. This study uses primary data and secondary data obtained from financial and non-financial reports from PT Gudang Garam. To test the hypothesis, simple regression was used. Based on the results of the analysis, it shows that there is a positive influence between working capital turnover at PT Gudang Garam. The level of closeness of the relationship (correlation) of the two variables is quite strong, namely r = 0.752 with a correlation coefficient value of r > 0. The level of influence achieved is 56.55%, and the remaining 43.45% is influenced by other factors. Meanwhile, by testing the hypothesis by using the t-test, the t-count value = 5.947 and the t-table value = 0.997. Based on the t-count value, the T-count value is greater than T-table H0 is in the rejection area. The results of simple linear regression analysis that every 1X (times) increase in working capital turnover, the company's performance will increase by 7.462%.

scholarly journals Cointegral Crystalization Of Triple Bottom Financial Reports And The Performance Of Hydrocarbon Companies

2021 ◽  
Vol 23 (11) ◽  
pp. 500-515
Author(s):  
Sunday A. Effiong ◽  
◽  
Ahakiri, F. Idiege ◽  
Fadenipo A. Adesola ◽  
Okoi, John Obono ◽  
...  
Keyword(s):  
Stock Exchange ◽  
Linear Regression Analysis ◽  
Secondary Data ◽  
Sustainability Reporting ◽  
Mandatory Reporting ◽  
Least Square ◽  
Annual Reports ◽  
Environmental Disclosure ◽  
Bottom Line ◽  
Financial Reports

The study considered the co-integral consequences of Triple Bottom Line financial reports of listed hydrocarbon companies on their financial outlooks. It was conducted to evaluate the crystalized correlation of responsible hydrocarbon companies on their financial fortunes. In simple terms, the research looked for answers to the question of whether it is financially worthwhile for corporate citizens to be responsible. The study employed the expos facto design where secondary data were obtained from the annual reports of the listed hydrocarbon companies on the floor of the Nigerian Stock Exchange. The least-square multiple linear regression analysis methods were employed to establish the degree of financial crystallization consequential to the adoption of the triple bottom reporting format. Social, economic, and environmental reports of the studied listed hydrocarbon companies were co-integrated with the returns on assets of the companies, to establish the level of crystallization of the explanatory variables with the response variable. The crystallized results revealed that economic disclosure and environmental disclosure have limited significant crystallization characteristics on the returns on assets, while social disclosure showed significantly positive crystallization characteristics with returns on assets of the studied companies. Arising from these findings, therefore, the study recommended that a mandatory reporting framework be put in place for hydrocarbon companies listed on the floor of the Nigerian Stock Exchange to encourage sustainability reporting.

scholarly journals Firm Size and Tax Saving Behaviour of Listed Companies in Nigeria

2020 ◽  
Vol 9 (3) ◽  
pp. 184
Author(s):  
Joseph U. Madugba ◽  
E. Ben-Caleb ◽  
Adedoyin I. Lawal ◽  
Uche T. Agburuga
Keyword(s):  
Firm Size ◽  
Tax Evasion ◽  
Stock Exchange ◽  
Unit Root Test ◽  
Tax Compliance ◽  
Secondary Data ◽  
Annual Reports ◽  
Effective Tax Rate ◽  
Ex Post ◽  
Tax Savings

In this paper has been investigated tax savings behaviour of firms in Nigeria with the objective of finding out how it affects firm size. The ex-post facto research design was employed, and secondary data obtained from the annual reports of firms listed on the Nigeria Stock Exchange was used. Descriptive statistics and panel data regression tests were conducted. The data were further subjected to unit root test to establish the stationarity of the data. The result revealed that interest tax savings behaviour and depreciation savings behaviour have negative but significant relationship with firm size while effective tax rate has negative and insignificant relationship with firm size. The study concluded that the lower the firm size the higher the tax savings behaviour and vice versa of quoted companies in Nigeria. The paper recommended that tax regulatory authorities should focus their searchlight on tax aggressiveness of small sized companies as a strategy to reduce tax evasion while encouraging appropriate tax savings strategies to ensure tax compliance.

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