Share price determination and corporate firm characteristics
Table Of Contents
- CONTENTS——– PAGE Cover———— i Title page———- ii Declaration———- iii Certification———- iv Dedication———- v Acknowledgements———-vi Abstract———- vii Table of Content———-viii List of Tables———- ix List of Figures———- xCHAPTER ONE: INTRODUCTION
- 1.1Background of Study——– 1
- 1.2Research Problem———-4 1.
- 3.Objectives of Study——– 6
- 1.4Research Questions——– 7
- 1.5Research Hypothesis——– 7
- 1.6Significance of the Study——– 8
- 1.7Scope and Limitation of the Study—— 9
- 1.8Summary of Research Methodology—— 9
- 1.9Sources of Data———-11 1.
- 10.Definition of Terms——– 12 References———- 15CHAPTER TWO: LITERATURE REVIEW
- 2.0Introduction———-16
- 2.1The Nigerian Experience——– 16 2.
- 1.1The Nigerian Financial System—— 16 2.
- 1.2The Nigerian Stock Market—— 17
- 2.2Conceptual Framework——– 21 2.
- 2.1Concept of Share Price Determination——23 2.
- 2.2Corporate Firm Growth and Share Price Determination– 26 2.
- 2.3Corporate Firm Profitability and Share Price Determination– 26 2.
- 2.4Corporate Firm Risk and Share Price Determination—-29 2.
- 2.5Corporate Firm Age and Share Price Determination—-31 2.
- 2.6Corporate Firm Size and Share Price Determination—-31 2.
- 2.7Share Price Determination and Macro Economic Variables– 33
- 2.3Theoretical Framework——– 35 2.
- 3.1Efficient Market Hypothesis—— 35
- 2.4Review of Empirical Literature on Share Price Determination and Corporate Firm Characteristics——– 39 References———- 45CHAPTER THREE: RESEARCH METHODOLOGY
- 3.0Introduction———-51
- 3.1Research Design———-51
- 3.2Population of Study——– 52
- 3.3Sample Size and Sampling Technique—— 52
- 3.4Data Gathering Method——– 53 3.
- 4.1Sources of Data——– 53 3.
- 4.2Instruments for Data Collection—— 54 3.
- 4.3Validity and Reliability of Instruments—- 54 3.
- 4.4Administration of Instruments.—— 55
- 3.5Problem of Data Collection——–56
- 3.6Actual Field Work/ Location of Study—— 56
- 3.7Data Analysis Method——– 57 3.
- 7.1Method of Data Analysis—— 57 3.
- 7.2Instruments for Data Analysis (Including Formulae)– 57 3.
- 7.3Diagnostic Analysis——–60 References———- 62CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
- 4.0Introduction———-63
- 4.1Data Presentation and Preliminary analysis——63
- 4.2Overall Descriptive Analysis——–65
- 4.3Data Analysis Advance——– 67 4.
- 3.1Correlation Analysis——– 67 4.
- 3.2Regression Analysis——–71
- 4.4Hypothesis Testing——– 78 4.
- 4.1Model 1———-78 4.
- 4.2Model 2———-80 References———- 86CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
- 5.0Introduction———-87
- 5.1Summary of Work Done——– 87
- 5.2Summary of Findings——– 89 5.
- 2.1Theoretical Findings——–89 5.
- 2.2Empirical Findings——–91
- 5.3Conclusions———- 93
- 5.4Recommendations———-95
- 5.5Suggestions for Further Studies——–96 References———- 97LIST OF FIGURES Figure
- 1.1Nigerian Stock Exchange Share Price Index for the Period 1985 to 2009 2 Figure
- 4.1Percentages of Samples Selected From Companies—-64LIST OF TABLES Table 4.2.1: Overall Descriptive Statistics for Model 1—- 65 Table 4.
- 2.2Overall Descriptive Statistics for Model 2—- 66 Table 4.3.
- 1.1Correlation Coefficient Matrix for Model 1—- 68 Table 4.3.
- 1.2Correlation Coefficient Matrix for Model 2—- 69 Table 4.3.
- 2.1Regression Result for Model—— 71 Table 4.3.
- 2.2Regression Result for Model 2—— 75 Table 4.
- 4.1Summary of Hypothesis Results For Model 1—- 84 Table 4.
- 4.2Summary of Hypothesis Results For Model 2—- 85
Thesis Abstract
At the close of 2009 the total market value of 266 securities listed on the Nigerian Stock market dropped by 26.5% resulting mainly from share price losses. In effect the crux of this work was to investigate share price determination and corporate firm characteristics in a view to critically examine the significant effect corporate firm characteristics has in determining the price of shares listed on the Nigerian Stock Exchange. A panel data design was adopted using seventy-two companies from 2004-2009, a six year period which were purposely selected based on availability and adequacy of data. Due to the panel nature of the study Ordinary Least Square (OLS), fixed effect and random effect estimation technique were employed in the analysis with the use of Gretl econometric analytical tool. The result indicates that the size of the firm has the most significant effect on share price determination in the two models adapted for the study. Conclusions were made on the note that our findings provided new and additional insights in the finance literature and point to a fruitful new line of research from both a theoretical and an empirical standpoint. Hence recommendations were made in the lights that investors should be critical and objective in considering corporate firm characteristics in making investment decisions also Managements and board members should aim at improving earnings which was rated through the literature reviewed to be a major determinant of share price. This could be done by proper definitions of earnings management to avoid manipulations of accounts which most times lead to fraud.
Keywords Share Price, Corporate Firm Characteristics, Nigerian Stock Exchange.
Thesis Overview
Blazingprojects Mobile App
📚 Over 50,000 Research Thesis
📱 100% Offline: No internet needed
📝 Over 98 Departments
🔍 Thesis-to-Journal Publication
🎓 Undergraduate/Postgraduate Thesis
📥 Instant Whatsapp/Email Delivery
Related Research
A Framework for Integrating Sustainability Metrics into Cost Estimation Models...
This research aims to develop a practical framework that combines sustainability metrics with existing cost estimation models used in construction projects. The...
A Framework for Enhancing Catalyst Efficiency through Surface Modification Technique...
This research focuses on finding ways to improve how well catalysts perform by changing their surface properties. Catalysts are substances that speed up chemica...
A Framework for Integrating Sustainable Practices in Strategic Sourcing Decisions...
This research is about developing a practical model or framework to help companies incorporate sustainable practices into their strategic sourcing decisions. St...
A Framework for Enhancing Public Sector Innovation through Institutional Capacity Bu...
This research focuses on understanding how public organizations can become more innovative by improving their internal capabilities, which is known as instituti...
A Framework for Integrating Emotional Regulation and Cognitive Flexibility in Adoles...
This research aims to develop a clear framework that shows how emotional regulation and cognitive flexibility can work together to help adolescents manage their...
A Framework for Analyzing Impact of Social Media on Political Polarization...
This research aims to understand how social media influences political polarization, which is the growing division between different political groups. As more p...
Developing a Holistic Model for Chronic Low Back Pain Management in Physiotherapy...
This research aims to create a comprehensive and practical model to help physiotherapists better manage patients with chronic low back pain. Chronic low back pa...
A Framework for Integrating Autonomic Nervous System Responses in Cardiovascular Reg...
This research aims to develop a comprehensive framework that explains how the autonomic nervous system (ANS) controls and coordinates cardiovascular functions. ...
A Model for Ethical Decision-Making in Autonomous Artificial Agents...
This research explores how to help autonomous artificial agents, like robots or self-driving cars, make ethical decisions when facing dilemmas. As these machine...
