Izvorni znanstveni članak
Cross-listing And Firm´s Performance: Evidence from Nigeria
Olabisi Jayeola
; Federal University of Agriculture, Abeokuta, Ogun State
Oluyombo Onabanjio Onadowokan
; School of Management and Social Sciences, Pan Atlantic University, Lagos
Dada John Olusola
; Department of Accounting and Finance, McPherson University, Seriki Sotayo, Ogun State
Sažetak
The study assessed the relationship between cross-listing and financial performance of six Nigerian firms that have cross listed in other countries stock exchange as at 2017. Data were collected from the audited financial statements of those firms over a period of ten years (2008- 2017). Performance was measured with return on equity while cross-listing was measured with investors’ protection and market liquidity. Multiple regression analysis and Pearson’s correlation co-efficient were used to analyse the data collected. The results of the study showed that investors’ protection had a significant and positive relationship with return on equity (P < 0.05), while market liquidity had a negative and insignificant relationship with return on equity (P > 0.05). The study concluded that performance of cross-listed firms is a function of investors’ protection. Therefore, it is recommended that Nigerian firm with required capacity should cross-list to improve performance.
Ključne riječi
investors’ protection; cross-listing; market liquidity; performance
Hrčak ID:
231939
URI
Datum izdavanja:
16.12.2019.
Posjeta: 926 *