Determinants of the Value of Listed Consumer Goods Companies in Nigeria

The study examines the effect of dividend per share, earnings per share, firm size, leverage, and profit after tax on the value of listed consumer goods firms in Nigeria. Panel regression was used to analyze data for the period of 2012 to 2019. A sample of fifteen (15) consumer goods companies was selected using the purposive sampling technique. The results of the study indicated that earnings per share and firm size have a significant effect on the value of listed consumer goods companies in Nigeria measured by the market price per share. Dividend per share, leverage and profit after tax of consumer goods companies did not significantly affect their value measured by the market price per share. The study concluded that the major determinants of firm value are the size of the firm and its earnings per unit of shares. The study recommended that managers of consumer goods companies should engage in those activities that will boost their earnings per unit share to create value for their shareholders.