Impact of firm attributes on share prices of listed industrial goods companies in Nigeria

This study examined the impact of firm attributes on share prices of listed industrial goods companies in Nigeria. The study used descriptive and explanatory research designs, utilizing secondary data from the annual reports and accounts of listed industrial goods companies in Nigeria for a period of ten years (2007 - 2016). The data are analyzed using descriptive statistics, correlation and regression (OLS and GLS) analysis. The study found that profitability, board size and board gender have significant positive impact on share prices of listed industrial goods companies in Nigeria. Managerial and institutional share ownership however, have significant negative impact on share prices of listed industrial goods companies in Nigeria. It is therefore concluded that listed industrial goods companies with high profits and large board sizes that are highly gender diverse tend to have higher share prices than their counterparts. The study recommended among others, that users of accounting information should be objective in assessing firm profitability in order to make wise investment decisions. The shareholders of listed industrial goods companies in Nigeria should increase their Board size and female gender representation as this has a lot of benefits attached to it which can enhance their share prices.