Share price Research Papers

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- Finance, Stock Market, Analysis, Share price

This paper examined the value reliance of accounting information in financial service companies in Nigeria. Three research questions were raised which are: what is the relationship between return on net worth and share price? to what extent does dividend per share influence share price? to what extent does cash flow from operations affect share price? To address these questions, we used data from 2012-2018 of 20 financial service companies listed in the Nigerian Stock exchange. Eviews 10 was used to analyse the data collected for this study. Least square regression method was adopted to make our statistical decisions. After conducting Hausman Test, the result indicated that random effect is more appropriate than the fixed effect model. There is positive and significant relationship between share price and firm size. We also found that there is negative and insignificant relationship between DPS, EPS, CFO, BVS and SP. The study concluded that there is relationship between share price and firm size. Also we conclude that there is no value relevance between information in financial statements and share price. The details of cash flow, dividend per share, earnings per share, book value of share and dividend per share disclosed in financial statements will not necessarily influence share price. We therefore recommend to companies to always fully disclose all the information related to their operations especially information relating to their sales revenue and assets. Also we recommend that companies should diligently follow the International Financial Reporting Standards in preparation and presentation of their financial statements.

The aim of this study was to study the relationship between dividend policy and share price volatility in insurance companies listed in the Amman Stock Exchange. A sample of 20 companies from 23 insurance companies listed in the Amman Stock Exchange was selected. The current study used two main measurements of dividend policy, dividend yield, and payout ratio, by applying multiple linear regressions for the period 2008 to 2017. The main regression model was modified by adding control variables including firm size, earnings volatility, financial leverage and growth in assets. The study finds a significant negative relationship between share price volatility and dividend yield and payout ratio. But the most impact variable on share price volatility was dividend yield.

- by Sufian manaseer
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- Jordan, Share price, Dividend policy, Insurance Companies

The share price has become a very important indicator for shareholders, banks, and financial institutions evaluating the performance of companies. The oil and gas industry seems to be in a difficult era of development, due to the market prices for its products. Moreover, climate change and renewable energies are barriers for fossil energy. This state of affairs, and the fact that oil and gas shares are considered one of the most solid and reliable shares on the London Stock Exchange (LSE), have drawn our attention. International institutions encourage the investment in the oil and gas economic sector. This study investigates how investments of oil and gas companies in long-term assets influence the share price. Using the Ohlson share price model for a sample of 51 listed companies on the LSE proves that investments in long-term assets influence the share price in the case of companies which record losses. Investments in long-term assets are responsible for the attractiveness of the oil and gas company shares.

- by Ionel Jianu and +1
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- Accounting, Financial Accounting, Stakeholders, Energy
- by sudeera jayakodi
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- Corporate Finance, Risk Management, Share price, Dividend policy

A number of studies have been undertaken to identify the factors affecting share prices in different stock markets, However, the results of past empirical studies to determine the effect on share price were not very conclusive and there were some recent results that seemed to contradict previous studies. The present study seeks to examine the effect of firm-specific determinants of share prices with particular reference to the Non-Financial firms listed in Automobile Sector on Pakistan Stock Exchange (PSX). The study employs a data-set from 15 listed firms belonging to automobile sector on PSX from 2004 to 2017. The data was collected from DataStream, annual reports, State Bank of Pakistan and Pakistan Stock Exchange. This study used unbalanced panel data and statistical analysis techniques like descriptive statistics, correlation matrix and ordinary least square (OLS) regression was tested. The result found that firm-specific determinants (EPS and P/E ratio) have positive significant impact on share price of firm in Pakistan. This study contributes to the current literature and ongoing debate regarding firm-specific factors impacting share price in an emerging market with particular reference to automobile sector in PSX

- by IAEME Publication
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- Share price, Determinants, Firm-specific, Pooled OLS

During the periods of globalization and deregulation, it is become very common for the equity market of a country to respond to the movement of prices of some internationally traded goods. The effort, trying to achieve in this study, relates to how Indian equity market responds to the movement of Crude Oil Prices. BSE Sensex and S&P CNX Nifty have been taken as the indicator of stock market performance. Daily closing prices of the equity indices and the price of Crude Oil for a period of 11 years starting from July, 2001 to June, 2012 have been used to assess the co-movement of prices among them. The study applies the concept of Unit Root test, Johansen's Cointegration test, Vector Error Correction Model (VECM) and Granger causality test to establish the long-run and short-run causal relationship between them. From the Trace test statistics and Maximum Eigen statistics we conclude that there exists one cointegrating vector for each case i.e., there exist a long term relationship between oil price and stock indices. The coefficient of the cointegrating equation shows that the relationship is positive and statistically significant. The VECM result shows a long-run causality moves from Indian stock market to oil price and the results of the Granger Causality test confirms the same unidirectional movement in short-run also.

- by Kalpataru Bandopadhyay
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- Share price, Stock Market Analysis, Oil Price

This study provides an overview of the situation and condition of the share price of publicly listed companies on the Indonesia Stock Exchange (IDX) and the impact of the Covid-19 pandemic experienced by the investor community on the performance of the Indonesia capital market. The data collection of this research was carried out by survey techniques by giving online questionnaires to the respondents. This study uses semantic scale analysis to measure respondents' views about the share price of their portfolio, the impact of the pandemic, and the performance of the Indonesian capital market. We performed validity, reliability, and hypothesis tests in forming a well-fitted model. The results of this study indicate that all the variables studied are valid and reliable, the hypothesis of the proposed statement is accepted that meets the significance level of the F-test and t-test, meaning that the strength of the issuer's stock price and the impact of the Covid-19 pandemic. This is able to explain and influence the performance variables of the Indonesian capital market by 74.7% out of 100 respondents in 2020.

- by Mohamed Ghazzali
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- Business, Entrepreneurship, Management, Business Administration

This study aims to discuss how operating cash flow adequacy and effectiveness affect the stock price for a selected sample of 10 publicly held Jordanian Industrial companies in the Amman stock exchange for the period between 2012 and 2017. The paper used multiple linear regression methods. The result of the study data showed a statistically significant positive relationship in the adequacy of net operating cash flows and their effectiveness with the stock price, and the analysis also the variables are positively correlated with each other, and the regression analysis showed how operating cash flow related with the stock price. No one can deny the fact that there's a positive relationship between operating cash flow and the Stock price even if it was affected by a minor percentage but still has an impact on it, and that's what this study has proved. Keywords: operating cash flow, industrial companies, share price, Amman stock

The study surveyed share pricing securities in some selected commercial banks in Nigeria. As a
survey research design study using ordinary least square method of multiple regressions to analyze
the trends in commercial banks in Lagos State, instrument used to collect data was secondary in
nature and in time series of twenty (20) years from 1988 to 2007. Two research hypotheses were
raised and analyzed through linear regression and Durbin Watson‘s statistical analysis. Findings
showed correlation co-efficient (R) equals to 0.307 which depicts that the level of correlation
coefficient between the commercial banks‘ profit and All Share Index of the industry during the
period under review (1988 to 2007) with Durbin Watson (DW) test of commercial banks as 1.054
showing that there is evidence of auto correlation between the identified variables. Also, there was
correlation co-efficient (R) of bank equal to 0.237 which means there is correlation between the
profitability and All Share Index during the period of under review (1988-2007), and the co-efficient
of Multiple Determination (R2) is 0.056 showing that the ‗Goodness of fit‘ between profitability and
All share Index is 5.6 percent. It observed that there is relationship between banks profitability on
shares and securities pricing in commercial banks. Study confirmed that 13.3 percent correlations
exist in first bank and 20 percent in second bank with R2 = 0.018 depicting a ‗goodness of fit‘ of 1.8
percent, showing that only 1.8 percent changes in Dividend Per Share declared at the period could be
attributed to Return on Capital Employed (ROCE), and so there is relationship between corporate
governance practices on market price of shares and securities in commercial banks. Discussions,
conclusion and recommendations to the study were extensively made in the paper

- by Abolaji D Anifowose
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- Share price

This study analyzes the impact of different types of dividend declaration, namely stock and cash dividends. Using event study method, MAAR and CAAR, this study found no evidence of abnormal returns on the declaration day for either of the types of dividends. However, significant negative returns are reported on days prior to the declaration day for stock dividend, indicating speculative nature of the investors. Furthermore, it provides positive returns during the post-announcement period as the investors realize the chance of potential gains. However, as far as cash dividend is concerned companies listed under DSE do not provide any significant abnormal returns during the 60 days event window. For CAAR, no significant return is reported for cash dividend, while stock dividend provided a maximum 5.6% abnormal returns during the post announcement period.

- by Asian Business Review
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- Bangladesh, Share price, Dhaka Stock Exchange, Cash Dividends

- by rabia shahid
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- Jordan, Share price, FINANCE AND INVESTMENT, Dividend policy
- by Rajveer Rawlin
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- Finance, Accounting, Key Performance Indicators, Share price

Previous studies reveal that accounting information are value relevant to stock price, and that earnings response coefficient (ERC) value increases as the disclosure window is increased. To understand the long-run behaviour of ERC, this study will attempt to estimate the size of ERC using different test windows. It will examine what selected factors (e.g., capital structure, risk, firm size) affect ERC. The difference in model performance will also be estimated using both individual companies setting and portfolio setting. Meanwhile, the size of ERC will be measured in different settings. The study will also explore why the share's book value is not equal to its market value as predicted by theory, estimating the correlation between market value change and selected factors. In addition, the study will estimate multi-country differences in ERC size among the OECD countries and Malaysia. Countries from both smaller and larger economies will be included and will be categorized into two groups accordingly. Our study will add new findings on ERC of several major economies which have not been studied yet. We will apply newer research processes to refine the measurement of ERC and also explore the correlation between ERC and selected factors not yet used in prior research, which includes identifying key determinants of market value change using panel regression, checking significant differences in country-specific ERCs, and testing the size of the difference between market value and book value under different test windows. To mitigate the problem of " errors in variables " , our research data will be grouped into three portfolios: individual companies in portfolios, sectoral portfolios, and country portfolios. Regression analysis, including panel regression, will be used in the study. In addition, the event study method will be used to examine the impact of unexpected earnings announcement (event) on stock price.

Balanced Scorecard is a performance measurement system or method that looks at the performance of a business through four dimensions. They are the financial, the customer, internal business process and the learning and g and growth dimensions. Kad Skor Berimbang ialah sistem atau kaedah pengukuran pencapaian dengan melihat pencapaian sesebuah perniagaan menerusi empat dimensi. Dimensi tersebut ialah dimensi kewangan (financial), dimensi pelanggan (customer), dlmensi proses dalaman perniagaan (internal business process) dan dimensi pembelajaran dan pengembangan (learning and growth).

This study aims to determine the effect of corporate governance mechanisms on the fulfillment of Sharia stock criteria in companies incorporated in the ISSI as well as on the tendency of corporate cash arrangement at financial institutions via comparative quantitative research methods. The result shows that there is a significant influence on the board of directors on the placement of cash in conventional banks. In conclusion, the board of commissioners should have the same views as the representatives of the owners to place the company's cash on a non-usury-based financial institution.

The market price of a security is its price on the Stock Exchange's trading market. The speed with which the market reacts to new knowledge about the company is a measure of the efficiency of its pricing process. This process is likely to be enhanced if market participants have unimpeded and costless access to all relevant information about the company's prospects and if high transaction costs do not constitute barriers to trading on the stock exchange. Here, the researcher has tried to find the influence of dividend announcement and interim finance statement on share price of the listed companies. There are 294 listed companies in the Colombo Stock Exchange as at 31st May 2015. There are 26 financial companies and it includes 15 foreign Banks and 11 Local Banks. Through them, here researcher has selected five local commercial banks as the sample for this study. Secondary data which have gained from annual reports and interim financial statements have been used to this study. In the case of analyzing the data Pearson's correlation analysis and regression analysis have been used. Researcher has found that there is a significant relationship between interim financial statements and share price and there is no significant relationship between dividend announcements and share price. And also, finally researcher has given valuable implication to further researchers.

- by JASH MATHEW
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- Share price, Dividend Announcements

This article conducts a research about the dividend policy of information technology companies with the highest growth rates and a comparison of cash dividends and stock buybacks in terms of cost of capital optimization and increase of enterprise value. In addition, the article presents a comparison between the dividend policy of US and Russian technology companies and concludes that Russian policy is less complicated due to relatively low country market capitalization and short dividend policy background. It is noticed that more and more companies with share equity use share repurchase policy and shorten quantity of cash for dividends payout. Calculation of a number of indexes show that such policy positively influences on the enterprise value, may decrease cost of capital and bring more stability into financial condition of a company.

- by Lifescience Global Canada
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- Finance, Accounting, Capital Structure, Share price

The purpose of this research is to provide empirical evidence concerning value relevance of accounting information such as Earning per Share (EPS), Net Assets Value Per Share (NAVPS), and Return On Equity (ROE) and Price Earnings Ratio (P/R) to Share Prices (SP) of manufacturing companies in Colombo Stock Exchange (CSE). Quantitative approaches were used in this study. For conducting this research, data were collected from secondary sources mainly from financial report of the selected companies, which were published by CSE in Sri Lanka. Findings of this research revealed that the value relevance of accounting information has the significant impact on share price and value relevance of accounting information is significantly correlated with share price

- by Noman Siddikee
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- Bangladesh, Asian Business, Share price, Dhaka Stock Exchange

- by IAEME Publication
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- Share price, Determinants, Firm-specific, Pooled OLS

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