IIARD International Institute of Academic Research and Development

Journal of Accounting and Financial Management (JAFM )

E-ISSN 2504-8856
P-ISSN 2695-2211
VOL. 10 NO. 5 2024
DOI: https://doi.org/10.56201/jafm.v10.no5.2024.pg43.53

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Effect of Accounting Information on Stock Price of Listed Consumer Goods Company in Nigeria

Confidence J. Ihenyen (PhD) and Ofonime P. Asemota

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Abstract

This research looked at how accounting information affected the stock price of Nigerian consumer goods firms that were listed. This research utilised ex post facto design. Ten consumer products firms were chosen for the duration of the investigation (2010–2023). This investigation used financial statements and annual reports from consumer product companies in Nigeria. Regression was used to analysis the collected data. We used the R-squared coefficient of determination to illustrate the extent to which the adoption of explanatory variables may account for stock price variety. The degree of influence that the independent variable had on the dependent variable was shown using the t-statistic and the F-statistic. At the 5% level of significance, regression analysis revealed that cash flow ratio and book values had a significant effect on stock price. The study advises policymakers to take into account the necessary lag in any programme intended to regulate the stock prices of consumer product companies.

keywords:

Accounting Information, Book Value, Cash Flow Rate, Stock Price, Consumer Goods Firms

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References:

Abubaka, A., Sulaiman, I., & Haruna, U., (2018). Effect of Firms Characteristics on Financial
Performance of Listed Insurance Companies in Nigeria. African Journal of History
and Archaeology 3 (1), 1-9.

Adelegan, O. J. (2023). An Empirical Analysis of the Relationship between Cash flow and
Dividend changes in Nigeria. Journal of Research and Development in Management,
15, 35-49.

Ana, S. R., & Rizal, N. (2016). Effect of accounting profit and cash flow and company size on
stock returns: Empirical study on banking companies registered on the stock exchange
in 2012-2014. Spread Journal, 6(2), 65–76.

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