Effect Of Share Crash Crisis On Shareholders’ Wealth In Nigeria, (2008 -2016)
Journal Title: International Journal of Business and Management Invention - Year 2018, Vol 7, Issue 7
Abstract
This paper examined the effects of share crash crisis on shareholders’ wealth in the post share crisis period - from April, 2008 to March, 2016) in the Nigeria stock markets. Shareholders from threeveritable investment sectors that yield steady return to investors before the advent of share crisis, the officials of stock market regulatory institutions and licensed stock brokers in Nigeria were sources of our assessment. Consequent upon this, the trend of movement of share prices/values from April, 2008 to March, 2016 were critically monitored in the selected sectors of Nigeria economy.Data were analyzed through Analysis of Variance (ANOVA) and the student’s t- test. The paper revealed that share crash crisisbasically have a significant effect on Shareholders’ Wealth, posing a great challenge to stock market regulatory institutions in Nigeria as the p value of yearly average EPS was (0.000) in the post share crisis period which is lower than (0.05) level of significance recorded in the pre - crisis period. The paper concluded that share crash crisis was responsible for the crash of share values which resulted to wealth-loss experienced by investors in the post share crisis period in Nigeria stock markets such that average Nigerian now dread staking their funds on shares in the Nigeria stock markets. Based on this, proactive stock market regulations and reforms capable of reviving and safeguards the wealth of investors in this sector were recommended.
Authors and Affiliations
Dr. Adesola Adebayo Akande
Keywords
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