ACCOUNTING INFORMATION AND MARKET VALUE OF QUOTED MANUFACTURING COMPANIES IN NIGERIA: DERIVED DATA APPROACH
DOI:
https://doi.org/10.5281/zenodo.17236214Keywords:
Accounting Information [Net Assets Per Share (NAPS)], Market Value, and Quoted Manufacturing CompaniesAbstract
The study was conducted to examine the influence of accounting information on market value of quoted manufacturing companies in Nigeria. Items of transactions reported on financial statements are expected to influence shareholders’ wealth positively through improvement in share price of quoted companies. It seems that this does not hold in quoted manufacturing companies in Nigeria. This necessitated the conduct of this study. Ex-post facto design was employed in the study because it required secondary data. Accounting Information (independent variable) was represented by Net Assets Per Share (NAPS). The dependent variable, Market Value (MV) was represented by share price (SP) while Asset Turnover Ratio (ATR) was chosen as a control variable for the study. The population of the study was Thirty-one (31) manufacturing companies whose shares were traded on Nigerian Exchange Group (NGX) based on the financial year of these companies. Twenty-Three (23) companies were selected as sample size for the study on the basis of availability of published financial statements. Data required were collected from the sampled companies from 2013 to 2024. The nature of data was panel data. Descriptive statistics and pooled panel linear regression statistical tools were used to analyze the data collected. The result of the analysis revealed that NAPS had positive and significant influence on MV of quoted manufacturing companies in Nigeria. From the findings, the researcher concluded that accounting information had a positive and significant influence on market value of quoted manufacturing companies in Nigeria. It was recommended that the managers of quoted manufacturing companies in Nigeria should raise net assets per share by acquiring more of non-current assets to improve upon the market value of the entities
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