INDIVIDUAL INVESTORS’ EXPECTATIONS AND STOCK PRICE BEHAVIOUR: EVIDENCE FROM THE NIGERIAN STOCK MARKET

Authors

  • Ogbebor, Peter. I. , Siyanbola, Trimisiu T. , Alalade, Yimka S. A. , Awonuga, Adesola R

Abstract

Investors consider several factors in selecting stocks to invest in but those
strongly influencing their choices are diverse but some of these factors affect the behaviour of
stock prices. In the case of Nigeria, this has not been well investigated, hence, this study explores
factors that individual investors consider in stock selection which in turn impacts stock prices of
companies listed on the Nigerian Stock Exchange. A validated Questionnaire for was used in
investigating factors which investors consider. Regression analysis (correlation analysis and
ANOVA) was the inferential statistics employed and the study concluded that the explanatory
variables were jointly significant in explaining stock price behaviour in Nigeria. The
recommendations include that companies listed in Nigeria should pay attention to factors such as
foreign investment flows, inflation, range of products and board composition which are factors
which investors lay emphasis on while investing.

Published

2020-10-16

Issue

Section

Articles