IMPACT OF FINANCIAL LEVERAGE AND DIVIDEND POLICY ON SHARE VALUE OF QUOTED OIL AND GAS COMPANIES IN NIGERIA

Simple item page
dc.contributor.authorAKUDU, Adze Musa
dc.date.accessioned2018-09-07T09:25:30Z
dc.date.available2018-09-07T09:25:30Z
dc.date.issued2017-07
dc.descriptionA THESIS SUBMITTED TO THE SCHOOL OF POSTGRADUATE STUDIES, AHMADU BELLO UNIVERSITY, ZARIA IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTER OF SCIENCE DEGREE IN ACCOUNTING AND FINANCE DEPARTMENT OF ACCOUNTING FACULTY OF ADMINISTRATION AHMADU BELLO UNIVERSITY, ZARIAen_US
dc.description.abstractThe study examines the impact of financial leverage and dividend policy on share value of quoted oil and gas companies in Nigeria. A total of sample of eight oil and gas companies quoted on the Nigerian Stock Exchange were studied, and panel data was obtained from their annual reports and accounts and price list from the Nigerian Stock Exchange for a period of 10 years (2006-2015). The data was analysed using descriptive statistics and inferential statistics, that is, panel regression technique. The study finds that the financial leverage measures; total debt to total capital ratio and interest coverage ratio have significant positive impact on share value of the quoted oil and gas companies in Nigeria. Similarly, it was found that the share value of the companies was positively and significantly driven by the dividend policy indicator; retained earnings ratio. However, the second dividend policy measure; dividend coverage ratio has a positive but insignificant impact on the share value of the quoted oil and gas companies in Nigeria. The study recommends that the management of the quoted oil and gas companies in Nigeria should explore the use of more debt capital in financing their investment opportunities in order to boost their share value in the capital market. It is also recommended that the management of the companies should retain a larger proportion of the company’s earnings for growth and ensure strict utilization of retained earnings on profitable investments and viable projects that will enhance the company’s financial health and consequently boost the share value of the company in the stock marketen_US
dc.identifier.urihttp://hdl.handle.net/123456789/10305
dc.language.isoenen_US
dc.subjectIMPACT,en_US
dc.subjectFINANCIAL LEVERAGE,en_US
dc.subjectDIVIDEND POLICY,en_US
dc.subjectSHARE VALUE,en_US
dc.subjectQUOTED OIL,en_US
dc.subjectGAS COMPANIES,en_US
dc.subjectNIGERIAen_US
dc.titleIMPACT OF FINANCIAL LEVERAGE AND DIVIDEND POLICY ON SHARE VALUE OF QUOTED OIL AND GAS COMPANIES IN NIGERIAen_US
dc.typeThesisen_US
Files
Original bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
IMPACT OF FINANCIAL LEVERAGE AND DIVIDEND POLICY ON SHARE VALUE OF QUOTED OIL AND GAS COMPANIES IN NIGERIA.pdf
Size:
747.31 KB
Format:
Adobe Portable Document Format
Description:
Download
License bundle
Now showing 1 - 1 of 1
No Thumbnail Available
Name:
license.txt
Size:
1.62 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
ADMINISTRATION