Evaluation of the Relationship between Corporate Growth and Shareholders’ Value of Manufacturing Firms in Nigeria (2008-2017)

UDEH, Sergius Nwannebuike and Ojobor, Jacinta Ifeanyi and Ngwoke, Ogechukwu Maria (2019) Evaluation of the Relationship between Corporate Growth and Shareholders’ Value of Manufacturing Firms in Nigeria (2008-2017). International Journal of Economics Finance and Entrepreneurship, 6 (1). pp. 1-13. ISSN 2713-4679

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Abstract

The study evaluated the relationship between corporate growth and shareholders’ value of manufacturing firms in Nigeria from 2008 to 2017. The specific objectives of the study which were to evaluate the relationship between sales growth, profit growth and shareholders’ value of manufacturing firms in Nigeria, The study adopted ex-post facto research design. Secondary data were extracted from annual reports and accounts of the firms. The population of the study was 42 while judgmental sampling technique was employed to select four firms used for the study. Spearman's Co-variance Analysis technique was used to test the collected data. The results revealed, among others, that sales growth has a positive and strong association with shareholders’ value of manufacturing firms in Nigeria. The implication of the findings is that as sales growth and profit growth increase, net asset per share will also increase. Therefore, these variables provide a sound benchmark for measuring net asset per share of manufacturing firms in Nigeria.The study concluded that efficient utilization of corporate resources is a sine qua none for maximization of shareholders’ value in Nigeria. Hence, it is recommended that managers of manufacturing companies should vigorously strive to increase the amount of sales they make because an increase in sales results to an increase in shareholders’ value, among others

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 10 Sep 2019 14:36
Last Modified: 10 Sep 2019 14:37
URI: http://eprints.gouni.edu.ng/id/eprint/1942

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