Foreign Exchange Rate Disruptions and Stock Market Performance of Selected Manufacturing Firms Quoted on the Nigerian Exchange Group (Published)
The core objective of the study is to empirically examine the effect of foreign exchange rate disruptions on stock market performance of selected manufacturing firms quoted on the Nigerian exchange group. Stock market price and stock volume were proxy for dependent variable, while exchange rates disruptions for independent variable. In pursuit of the objectives of this study, two hypotheses were formulated and tested. This study adopted ex-post facto research design. Secondary data cut from Nigerian stock market reports, 2023. Five (5) selected manufacturing firms quoted in Nigerian exchange group using random sample techniques. The study covered a period of 10 ranging between June and September, 2023. Data were analyzed using simple ordinary regression analytical estimation technique with aid of E-view v8. The empirical results reveal that exchange rate disruption has non-significant negative effect (t=1.042021; PV=0.3013) effect on stock market price of selected manufacturing firms in Nigeria exchange group. That the disruption of the exchange rate has no appreciable negative impact (t = 0.789457; PV=0.4329) on the volume of stock transaction of selected manufacturing firms on the Nigerian exchange group. In accordance with the data, we draw the conclusion that disruptions in foreign exchange rate have non-significant negative effects on the market performance of selected manufacturing firms quoted in the Nigerian exchange group. The researcher recommends that if the foreign currency rate is permitted to continue to disrupt, the Nigerian government should think about developing consistent rules to control, monitor, and manage the disruptions. It has the ability, people, and other costs associated with material inputs. Directors of manufacturing firms should also hire a professional who can precisely predict the direction of the exchange rate.
Keywords: Exchange Rate, Market Performance, disruptions, stock market price, volume
IFRS Adoption and Firms Performance: A Comparative Analysis of Quoted Food and Beverage Manufacturing Firms In Nigeria (Published)
This paper examines the impact of IFRS on market performance of food and beverages manufacturing firms in Nigeria. Earnings Per Share, Price Earnings Ratio and Dividend Yield were selected as performance criterion. Data were collected and divided into pre and post IFRS- Comparative analysis and T test was done to ascertain influence of pre and post IFRS adoption on market performance of the firms. Findings indicate that differences on market performance between Pre and Post IFRS periods are not significant suggesting a weak correlation between adoption of IFRS and market performance of quoted food and beverage manufacturing firms in Nigeria Stock Exchange
Keywords: Dividend Yield, Earnings Per Share. Price Earnings Ratio, Food and Beverage Manufacturing, INFRS Adoption, Market Performance