SHARE PRICE RESPONSE ON CORPORATE RESERVE AND BOOK VALUE OF LISTED CONGLOMERATE FIRMS IN NIGERIA
Abstract
ABSTRACT
The study was conceived to investigate the extent of relationship between share price, book value and corporate reserve of listed conglomerate firms in Nigeria usingOlhson price model (1995). The six (8) listed conglomerate firms were used as population of the study. However, five (5) were selected as sample. Descriptive research design was used and data was generated from secondary sources. The data was analyzed using STATA package. The result of the analysis indicated that investors of listed conglomerate firms in Nigeria respond in the same direction with both change in book value and corporate reserve. Findings further revealed that 24% changes in the share price of conglomerate firms in Nigeria are caused by change in BKV and CORE. it is therefore, recommended that listed conglomerate firms in Nigeria should engage more in activities that will enhance their shareholders funds (book value) and reserve.
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