Firm Size and Equity Return of Quoted Consumer Goods Manufacturing Firms in Nigeria

Lawal Quadri Adebayo

Consumer goods, Manufacturing Firms .

The study was conducted to determine the capability of firm size in determining the equity return of quoted Consumer goods Manufacturing firms in Nigeria capital market.

The study used the ex-post facto research design and content analysis. The choice of design was based on the fact that the dependent variable (return on equity) already exists. The research nature was longitudinal in nature because the subjects were not randomly assigned, that is, they were grouped based on a particular characteristic or trait such as listed on Nigerian Stock Exchange. Data were sourced from the secondary means such as financial statements.

The result of the study showed that there is a negative and insignificant relationship between the firm size and equity return of the quoted consumer goods manufacturing firms in Nigeria.

The study concluded that the size effect lacks capability in predicting the equity return of the firms and the higher the size the lower the equity return of the firm. Therefore, it supports the hypothesis that smaller firms outperform larger firms in the Quoted Consumer Goods  Manufacturing Firms in Nigeria.

https://doi.org/10.31871/WJRR.14.6.13