Stock Returns and Market Value of Stock in Nigeria

The research evaluated the effects of stock returns on the market value of stocks in Nigeria. The research's aim is to look into the effect of trading volume, dividend yield and stock return on market value of stock on the Nigerian stock market. Data for the study was data collected from the Nigerian Exchange Group and the audited annual financial statements of five selected deposit money banks in Nigeria from 2013 to 2023. The study engaged the Pannel Ordinary Least Squares (POLS) for the analysis. The result of Panel OLS showed that Trading Volume (TV) and Dividend yield (DY) had a negative and significant influence on Market value of stock (MV), while Stock Return (SR) had a positive and significant influence on Market value of stock (MV). The analysis came to the conclusion that trading volume and dividend yield negatively influence the market value of stock, while stock returns positively influence market value of stock. The study therefore recommended that investors and companies need pay attention to the importance of trading volume, dividend yield and stock returns, and lastly, the government should build and maintain a sound and vibrant stock market by encouraging more companies to go public.