An Evaluation of Share Price Determination and Corporate Firm Characteristics

An Evaluation of Share Price Determination and Corporate Firm Characteristics

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Reference ID: PS-1009-TM

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ACKNOWLEDGEMENT

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TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • ⋮
    • 2.4 Empirical Studies

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”

    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 purposively 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.

    An Evaluation of Share Price Determination and Corporate Firm Characteristics

    CHAPTER ONE

    1.1 Introduction

    … As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Research hypothesis and questions, Limitation of the study and Definition of technical terms.

    …

    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …

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