IMPACT OF ACCOUNTING INFORMATION ON STOCK PRICE VOLATILITY OF QUOTED CONSUMER GOODS FIRMS IN NIGERIA
Abstract
ABSTRACT
This study examined the accounting information and stock price volatility of quoted consumer
firms in Nigeria between the periods of 2014-2023. The objectives of the study were to;
determine the influence of dividend pay-out ratio on stock price volatility; examine the effect
of dividend per share on stock price volatility; evaluate the influence of dividend yield ratio on
stock price volatility; examine the effect of retained earnings per share on stock price volatility.
Panel Least Square (PLS) method of data analysis were used. The interested data were culled
from the annual report of consumer firms in Nigeria stock exchange. The following variables
used were: dividend pay-out ratio, dividend per share, dividend yield ratio, retained earnings
per share and stock price volatility. The findings show that Dividend Per Share have no
significant effect on stock price volatility per share; retained earnings per share have
significant effect on stock price volatility; dividend yield ratio has no significant effect on stock
price volatility. The study recommends that Shareholders should always consider the dividends
as a source of income as the board should ensure a stable price ratio. Thus, a portion of the
earnings per share of a firm should be paid as dividend while a portion is also retained for
further investments
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