FIRM ATTRIBUTE AND SHARE HOLDERS VALUE IN DEPOSIT MONEY BANKS IN NIGERIA
Abstract
ABSTRACT
This study examines the effect of firm attributes on shareholders’ value in deposit money banks in Nigeria. An ex-post facto research design was employed, using secondary data obtained from the audited annual financial reports of selected quoted deposit money banks listed on the Nigerian Exchange Group (NGX). The population comprised all fifteen (15) deposit money banks with international affiliations. The findings reveal that firm size exerts a positive and statistically significant effect on return on equity, suggesting that larger banks achieve higher profitability compared to their smaller counterparts. In contrast, firm leverage was found to have no statistically significant effect on return on equity, while firm age showed a negative and statistically significant relationship with return on equity. Based on these results, the study recommends that deposit money banks should pursue strategic growth initiatives to leverage the positive impact of size on shareholders’ value. Additionally, banks should ensure that increases in leverage are directed toward productive investments capable of enhancing returns without exposing the institution to excessive risk.
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