Firm Specific Dimensions and Stock Price of Listed Financial Service Firms in Nigeria

The study examines the effect of firm’s specific dimensions on market share price of listed financial service firms in Nigeria. The study adopts correlation quasi-experimental research design. The population of the study was made up of the entire listed financial service firms in Nigeria which stands at 56 as at 31st December 2022. This includes deposit money banks, insurance firms and merchant banks. Census sampling techniques were adopted to arrive at a sample of 33 firms. Data for the period of 11 years (2012-2022) were collected using the secondary method of data collection from the annual reports and account of sampled firms. Data for the study were analysed using descriptive and inferential methods of data analyses with the help of STATA 13 statistical software. The findings of the study revealed that return on assets has positive significance effect on share price; growth opportunity has negative insignificance effect on share price and information asymmetry has negative significance effect on share price. Based on its findings the study concludes that firm specific dimensions have significance effect on stock market price of listed financial service firms in Nigeria. Based on its conclusion, the study recommends among others that listed financial service firms should try to improve their financial performance in the form of return on assets; To improve financial performance, also firms should optimize asset utilization by reallocating underperforming resources, adopting technology for efficiency, and managing costs to maximize profit margins. They should diversify revenue streams by exploring new markets and products while investing in workforce training to enhance productivity. To manage information asymmetry, firms must adopt transparent and timely financial reporting, leverage digital platforms for real-time disclosures, and engage with investors through regular meetings and updates.