Effect of Corporate Assets on Market Value of Oil and Gas Firms in Nigeria

• Post by: eraf
• December 20, 2022
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ABSTRACT

The study examined the effect of corporate assets on market value of oil and gas firms in Nigeria. The study specifically examined the effect of current assets, non-current assets and intangible assets on share price of oil and gas firms in Nigeria. The study used ex-post facto research design. Data for the study were sourced from annual reports and accounts of sampled oil and gas firms. Data collected were analysed using multiple regression analysis. Result of the analysis shows that the study found out that current assets have positive and significant effect on share price of oil and gas firms in Nigeria. Non-current assets have positive and significant effect on share price of oil and gas firms in Nigeria. Intangible assets have positive and significant effect on share price of oil and gas firms in Nigeria. Based on the findings, the study recommends that oil and gas firms in Nigeria should effectively utilize current assets in funding day-to-day operations and paying ongoing expenses as the study found out that current assets have positive and significant effect on share price of oil and gas firms in Nigeria. Oil and gas firms in Nigeria should use non-current assets for long term investments as the study found out that non-current assets have positive and significant effect on share price of oil and gas firms in Nigeria. Oil firms in Nigeria should invest more in intangible assets to further improve on their market value as the study found out that intangible asset has significant effect on the net share price of oil firms in Nigeria.

Keywords: Corporate Assets; Market Value; Oil and Gas Firms

Authorship
Madukwe, Chimezie James¹, Prof. Nwoha Chike², and Nwabuisi Anthony Okorie³

DOI: https://doi.org/10.5281/zenodo.7512287 | FULL PDF