CURRENT MARKET PRICE OF SHARE CAPITAL AND PROFITABILITY OF SELECTED FIRMS ON NIGERIAN STOCK EXCHANGE

This research investigates the relationship of profitability of selected firm s (proxied by Return on Asset, Return on Equity and Return on Investment Ratios) to Current Market Share Price. Secondary used were obtained from annual reports of 18 selected quoted firms in Agriculture and Agro-Allied sector on Nigeria Stock Exchange from 2012 to 2016. Mixed results of extant studies in this area of study before International Financial Reporting Standards necessitate conduct of this study to find out what the result would be after International Financial Reporting Standards. The annual reports were obtained from the selected firm's website and their registrar of companies as well as Nigeria Stock Exchange website. Multiple regression analysis and descriptive statistics was used study the relationship between independent (i.e. profitability ratios proxied by Return on Asset, Return on Equity and Return on Investment Ratios) and dependent variables (proxied by shares price). The study found there is positive and significant between Current Market Share Price and profitability together and also found there is positive and significant between Current Market Price of Share Capital and profitability separately