TITLE

Determinants of Stock Return of Nigerian-Listed Firms

AUTHOR(S)
O., Olowoniyi A.; J. O., Ojenike
PUB. DATE
August 2012
SOURCE
Journal of Emerging Trends in Economics & Management Sciences;Aug2012, Vol. 3 Issue 4, p389
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Identifying the factors that influence stock returns is a major concern for practice and academic research. This paper investigates the determinants of stock returns of listed firms in Nigeria. Panel econometric approach was used to analyse panel data obtained from 70 listed for the period 2000-2009. The fixed effect (FE), random effect (RE) and Hausman-test based on the difference between fixed and random effects estimators were conducted. Our findings suggest that expected growth and size positively influenced stock return while tangibility negatively impacted on stock return of listed firms. Efforts at improving size of the firms and adjustment of firms' tangibility to a positive side is suggested to improve financial situation of firms through stock return.
ACCESSION #
80534657

 

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