Nigerian Listed Brewery Companies Ownership Structure Effects
Author : Amahalu Nestor Ndubuisi
Abstract :
The study looked at the impact of ownership structure on Nigeria's listed brewing firms from 2014 to 2018. Secondary data were used, which were taken from the financial statements and reports of the businesses that made up the study's sample. Data analysis is done using panel data analysis with fixed and random effect models. The findings demonstrated that institutional ownership and management control have a considerable impact on the market value of listed brewery firms on the Nigeria Exchange Group. Managerial ownership significantly increases the value of the company. The agency theory and a number of empirical studies are in agreement with this finding. The value of listed brewery companies, however, is negatively and significantly impacted by institutional ownership. According to the study, managers at listed beer firms in Nigeria should be granted a larger piece of the stock. This will inspire and incentivize them to work more and improve their worth.
Keywords :
Managerial ownership, Tobin's Q, institutional ownership, and firm size
