EFFECT OF FIRM CHARACTERISTICS ON INVESTOR DECISION MAKING OF LISTED CONSUMER GOODS COMPANIES IN NIGERIA
Halimatu, Sa’adiya Abubakar, PhD and Jatau, Yohanna Andrew
Volume 12 Issue 3
Abstract
This study examines the effect of firm characteristics on investor’s decision of 20 listed consumer goods companies in Nigeria from 2015-2024. Firm size, firm age and firm growth are the independent variables while market price of share is the dependent variable. Data extracted from the audited published financial statements and other relevant sources of the firms for the period covered were analyzed using panel regression with the aid of Stata 13 software. The results revealed that firm age and firm growth had a significant positive effect on market price of share while firm size had a positive but insignificant effect on market price of share. The study concludes that firm age and firm growth are the primary drivers of investor decision-making. The study recommends that companies in the consumer goods sector develop aggressive policy that will enhance their growth and by producing more consumer friendly related productss. Keywords: Market Price of Shares, Firm Age, Firm Size, Firm Growth, Listed Consumer Goods Companies.
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