{"title":"How a Novel Stock Valuation Model Outperforms Traditional Models in Information Efficiency: Implications for Shareholders and Regulators","authors":"Mohamad Saad","doi":"10.12691/jfe-11-2-5","DOIUrl":"https://doi.org/10.12691/jfe-11-2-5","url":null,"abstract":"","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"25 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2023-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82809612","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Which Members of OECD are Inactive or Laissez-Faire at Reducing Greenhouse Gas Emissions","authors":"Ai-Chi Hsu, Po-Yuan Shih, Ting-Wei Wu","doi":"10.12691/jfe-11-2-3","DOIUrl":"https://doi.org/10.12691/jfe-11-2-3","url":null,"abstract":"","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"57 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2023-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80439012","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Mona Khalil Mohamed Ahmed Nawary, Dr. Hussien Seoudy, Dr. Mona Kadry
{"title":"Determinants of Shareholders’ Value Creation in the Listed Egyptian Commercial Banks (2012-2021)","authors":"Mona Khalil Mohamed Ahmed Nawary, Dr. Hussien Seoudy, Dr. Mona Kadry","doi":"10.12691/jfe-11-2-4","DOIUrl":"https://doi.org/10.12691/jfe-11-2-4","url":null,"abstract":"","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"01 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2023-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86072910","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Juan Gabriel Figueroa Velázquez, Gerardo Martínez Cedillo, Moisés Rubén Zamora Ramos
At the beginning of the investigation, the objective was to empirically validate a model that relates corporate social responsibility (CSR) and brand image as precedents of customer loyalty to a movie theater chain in Mexico. For this, a quantitative, transversal and explanatory research will be developed. Following the non-probabilistic sampling, a questionnaire containing already validated scales was integrated and supplied through the Google Forms application, reaching a total of 252 valid questionnaires, whose informants were mostly young people between 15 and 24 years old. The objective was achieved using the structural equation modeling technique and using Stata software, the measurement model was verified, in which the constructs used met the reliability and convergent validity requirements. Likewise, the structural model showed an acceptable fit. The results of the model showed that there is a positive and statistically significant relationship between CSR and brand identity with customer loyalty, with which the two hypotheses raised found support.
{"title":"Empirical study on the relationship between corporate social responsibility and brand image with loyalty to a movie theater company in Mexico","authors":"Juan Gabriel Figueroa Velázquez, Gerardo Martínez Cedillo, Moisés Rubén Zamora Ramos","doi":"10.29057/jas.v5i9.9830","DOIUrl":"https://doi.org/10.29057/jas.v5i9.9830","url":null,"abstract":"At the beginning of the investigation, the objective was to empirically validate a model that relates corporate social responsibility (CSR) and brand image as precedents of customer loyalty to a movie theater chain in Mexico. For this, a quantitative, transversal and explanatory research will be developed. Following the non-probabilistic sampling, a questionnaire containing already validated scales was integrated and supplied through the Google Forms application, reaching a total of 252 valid questionnaires, whose informants were mostly young people between 15 and 24 years old. The objective was achieved using the structural equation modeling technique and using Stata software, the measurement model was verified, in which the constructs used met the reliability and convergent validity requirements. Likewise, the structural model showed an acceptable fit. The results of the model showed that there is a positive and statistically significant relationship between CSR and brand identity with customer loyalty, with which the two hypotheses raised found support.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"323 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2023-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78308354","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
B. G. García Hernández, Ruth Ortiz Zarco, Edgar Esaúl Vite Gómez
The selection of suppliers is a decision that contributes to the competitiveness of companies due to its impact on their costs, efficiency and innovation. The purpose of this research is to distinguish which are the criteria used by a group of Micro, Small and Medium Enterprises (MSMEs) from Hidalgo, Mexico, in order to identify the factors that influence their business and build a supplier evaluation system to guide them to carry out this process with a broader approach than the technical one. The first phase of the investigation includes the search for data from micro, small and medium-sized manufacturing companies, located in four municipalities of the state of Hidalgo, based on information provided by the National Statistical Directory of Economic Units (DENUE). The second stage consists of the application of a questionnaire among the entrepreneurs of the companies. Finally, the third stage included the analysis of the information collected.
{"title":"Mexican MSMEs supplier selection under a commercial and environmental approach: Case Pachuca and suburban areas","authors":"B. G. García Hernández, Ruth Ortiz Zarco, Edgar Esaúl Vite Gómez","doi":"10.29057/jas.v5i9.10512","DOIUrl":"https://doi.org/10.29057/jas.v5i9.10512","url":null,"abstract":"The selection of suppliers is a decision that contributes to the competitiveness of companies due to its impact on their costs, efficiency and innovation. The purpose of this research is to distinguish which are the criteria used by a group of Micro, Small and Medium Enterprises (MSMEs) from Hidalgo, Mexico, in order to identify the factors that influence their business and build a supplier evaluation system to guide them to carry out this process with a broader approach than the technical one. The first phase of the investigation includes the search for data from micro, small and medium-sized manufacturing companies, located in four municipalities of the state of Hidalgo, based on information provided by the National Statistical Directory of Economic Units (DENUE). The second stage consists of the application of a questionnaire among the entrepreneurs of the companies. Finally, the third stage included the analysis of the information collected.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"24 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2023-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89308708","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Juan de Guadalupe De Leon Valdes, José de Jesús Romero Alvarez, Olga Esthela Fuentes Martínez
The sales department is the heart of any company, having sellers with the necessary skills and tools so that they can carry out their function, will have a positive impact at all levels of the organization. This article addresses issues that, both managers and the sales associates, must be present before, during and after approaching a potential client. In the sales process, the issues of the sales cycle and effective negotiation will be mentioned
{"title":"Effective Sales Process","authors":"Juan de Guadalupe De Leon Valdes, José de Jesús Romero Alvarez, Olga Esthela Fuentes Martínez","doi":"10.29057/jas.v5i9.9880","DOIUrl":"https://doi.org/10.29057/jas.v5i9.9880","url":null,"abstract":"The sales department is the heart of any company, having sellers with the necessary skills and tools so that they can carry out their function, will have a positive impact at all levels of the organization. This article addresses issues that, both managers and the sales associates, must be present before, during and after approaching a potential client. In the sales process, the issues of the sales cycle and effective negotiation will be mentioned","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"97 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2023-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85854080","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Tirso Javier Hernández Gracia, Danae Duana Ávila, Yolanda Marysol Escorza-Sánchez
The development of a company is conditioned by its ability to be competitive and productive, however, today there are aspects of utmost importance that have become key factors to achieve this, such as technology, innovation of organizational processes, the ability to market their products and enter new markets, as well as offering a higher quality of them. The strategies to achieve this are vertical integration, distribution channels, sales, age and size of the company, which become part of globalization and its implications in the competitive market, generating a higher growth and productivity level. The objective of this study was to identify the factors that determine the competitiveness of the textile and apparel industry of Mexican companies. This process was carried out by means of the Bivariate statistical method, and a significant correlation was found with the characteristics of the company, marketing channels, percentage of sales and its relationship with vertical integration.
{"title":"Determinants of competitiveness and productivity of Mexican SMEs and their relationship with vertical integration","authors":"Tirso Javier Hernández Gracia, Danae Duana Ávila, Yolanda Marysol Escorza-Sánchez","doi":"10.29057/jas.v5i9.10601","DOIUrl":"https://doi.org/10.29057/jas.v5i9.10601","url":null,"abstract":"The development of a company is conditioned by its ability to be competitive and productive, however, today there are aspects of utmost importance that have become key factors to achieve this, such as technology, innovation of organizational processes, the ability to market their products and enter new markets, as well as offering a higher quality of them. The strategies to achieve this are vertical integration, distribution channels, sales, age and size of the company, which become part of globalization and its implications in the competitive market, generating a higher growth and productivity level. The objective of this study was to identify the factors that determine the competitiveness of the textile and apparel industry of Mexican companies. This process was carried out by means of the Bivariate statistical method, and a significant correlation was found with the characteristics of the company, marketing channels, percentage of sales and its relationship with vertical integration.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"30 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2023-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81937517","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-19DOI: 10.1108/jefas-12-2021-0269
Ane Elixabete Ripoll-Zarraga
PurposeThe Spanish airport system contains several regional airports within an amenity distance and alternative travel modes. Profitable airports cross-subsidise small airports, which are not required for regional development or connectivity. Airports are government-owned and centralised-managed by Spanish Airports and Air Navigation (AENA, for its Spanish acronym). This study aims to analyse the probability of an under-used public infrastructure and the AENA’s managerial ability as per the financial sustainability of the network in the long term.Design/methodology/approachThe national regulatory framework determines the airports’ environment. Six airports revealed unobserved heterogeneity, avoiding model misspecification. The framework is defined through proxies of the singularities of the Spanish framework: public investments and geographical specifications. The stochastic frontier analysis model follows two time-varying specifications, accounting for airports’ environmental factors, to ensure the robustness of the results to differ from the inefficiency caused by AENA and external factors.FindingsAirports’ infrastructure capacity and traffic are not correlated; regional airports become a financial burden for the system unless they specialise or differentiate. Proxies defining the airports’ context are relevant. Because airports do not compete for airlines and passengers, there are too many regional airports with little traffic, resulting in disused public infrastructure that falls far short of improving connectivity and regional development.Originality/valueThis study contributes to paying attention to the characteristics of the regulatory framework, such as management strongly centralised in AENA, airport charges decided by the owner, lack of competition and lack of an independent regulatory entity. Another original contribution considers reliable capital measures (airports’ infrastructure).
{"title":"Airports’ public infrastructure and sources of inefficiency","authors":"Ane Elixabete Ripoll-Zarraga","doi":"10.1108/jefas-12-2021-0269","DOIUrl":"https://doi.org/10.1108/jefas-12-2021-0269","url":null,"abstract":"PurposeThe Spanish airport system contains several regional airports within an amenity distance and alternative travel modes. Profitable airports cross-subsidise small airports, which are not required for regional development or connectivity. Airports are government-owned and centralised-managed by Spanish Airports and Air Navigation (AENA, for its Spanish acronym). This study aims to analyse the probability of an under-used public infrastructure and the AENA’s managerial ability as per the financial sustainability of the network in the long term.Design/methodology/approachThe national regulatory framework determines the airports’ environment. Six airports revealed unobserved heterogeneity, avoiding model misspecification. The framework is defined through proxies of the singularities of the Spanish framework: public investments and geographical specifications. The stochastic frontier analysis model follows two time-varying specifications, accounting for airports’ environmental factors, to ensure the robustness of the results to differ from the inefficiency caused by AENA and external factors.FindingsAirports’ infrastructure capacity and traffic are not correlated; regional airports become a financial burden for the system unless they specialise or differentiate. Proxies defining the airports’ context are relevant. Because airports do not compete for airlines and passengers, there are too many regional airports with little traffic, resulting in disused public infrastructure that falls far short of improving connectivity and regional development.Originality/valueThis study contributes to paying attention to the characteristics of the regulatory framework, such as management strongly centralised in AENA, airport charges decided by the owner, lack of competition and lack of an independent regulatory entity. Another original contribution considers reliable capital measures (airports’ infrastructure).","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"7 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2023-06-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89391198","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-06-05DOI: 10.1108/jefas-09-2021-0193
Elias Shohei Kamimura, Anderson Rogério Faia Pinto, M. S. Nagano
PurposeThis paper aims to present a literature review of the most recent optimisation methods applied to Credit Scoring Models (CSMs).Design/methodology/approachThe research methodology employed technical procedures based on bibliographic and exploratory analyses. A traditional investigation was carried out using the Scopus, ScienceDirect and Web of Science databases. The papers selection and classification took place in three steps considering only studies in English language and published in electronic journals (from 2008 to 2022). The investigation led up to the selection of 46 publications (10 presenting literature reviews and 36 proposing CSMs).FindingsThe findings showed that CSMs are usually formulated using Financial Analysis, Machine Learning, Statistical Techniques, Operational Research and Data Mining Algorithms. The main databases used by the researchers were banks and the University of California, Irvine. The analyses identified 48 methods used by CSMs, the main ones being: Logistic Regression (13%), Naive Bayes (10%) and Artificial Neural Networks (7%). The authors conclude that advances in credit score studies will require new hybrid approaches capable of integrating Big Data and Deep Learning algorithms into CSMs. These algorithms should have practical issues considered consider practical issues for improving the level of adaptation and performance demanded for the CSMs.Practical implicationsThe results of this study might provide considerable practical implications for the application of CSMs. As it was aimed to demonstrate the application of optimisation methods, it is highly considerable that legal and ethical issues should be better adapted to CSMs. It is also suggested improvement of studies focused on micro and small companies for sales in instalment plans and commercial credit through the improvement or new CSMs.Originality/valueThe economic reality surrounding credit granting has made risk management a complex decision-making issue increasingly supported by CSMs. Therefore, this paper satisfies an important gap in the literature to present an analysis of recent advances in optimisation methods applied to CSMs. The main contribution of this paper consists of presenting the evolution of the state of the art and future trends in studies aimed at proposing better CSMs.
目的本文旨在介绍最新的优化方法应用于信用评分模型(csm)的文献综述。设计/方法/方法研究方法采用了基于文献和探索性分析的技术程序。使用Scopus、ScienceDirect和Web of Science数据库进行传统调查。论文的选择和分类分三步进行，仅考虑英语研究和发表在电子期刊上(从2008年到2022年)。该调查最终选择了46份出版物(10份文献综述，36份建议csm)。研究结果表明，csm通常使用财务分析、机器学习、统计技术、运筹学和数据挖掘算法来制定。研究人员使用的主要数据库是银行和加州大学欧文分校。分析确定了csm使用的48种方法，主要是:逻辑回归(13%)，朴素贝叶斯(10%)和人工神经网络(7%)。作者得出结论，信用评分研究的进步将需要新的混合方法，能够将大数据和深度学习算法集成到csm中。这些算法应考虑实际问题，考虑提高csm所需的适应水平和性能的实际问题。实际意义本研究的结果可能为csm的应用提供相当大的实际意义。由于其目的是展示优化方法的应用，法律和伦理问题应该更好地适应csm，这是非常可观的。还建议通过改进新的客户服务管理体系，改进以微型和小型公司为重点的分期付款销售计划和商业信贷研究。原创性/价值授信的经济现实使得风险管理成为一个复杂的决策问题，越来越多地得到csm的支持。因此，本文满足了文献中的一个重要差距，以介绍应用于csm的优化方法的最新进展的分析。本文的主要贡献包括介绍了旨在提出更好的csm的研究的最新进展和未来趋势。
{"title":"A recent review on optimisation methods applied to credit scoring models","authors":"Elias Shohei Kamimura, Anderson Rogério Faia Pinto, M. S. Nagano","doi":"10.1108/jefas-09-2021-0193","DOIUrl":"https://doi.org/10.1108/jefas-09-2021-0193","url":null,"abstract":"PurposeThis paper aims to present a literature review of the most recent optimisation methods applied to Credit Scoring Models (CSMs).Design/methodology/approachThe research methodology employed technical procedures based on bibliographic and exploratory analyses. A traditional investigation was carried out using the Scopus, ScienceDirect and Web of Science databases. The papers selection and classification took place in three steps considering only studies in English language and published in electronic journals (from 2008 to 2022). The investigation led up to the selection of 46 publications (10 presenting literature reviews and 36 proposing CSMs).FindingsThe findings showed that CSMs are usually formulated using Financial Analysis, Machine Learning, Statistical Techniques, Operational Research and Data Mining Algorithms. The main databases used by the researchers were banks and the University of California, Irvine. The analyses identified 48 methods used by CSMs, the main ones being: Logistic Regression (13%), Naive Bayes (10%) and Artificial Neural Networks (7%). The authors conclude that advances in credit score studies will require new hybrid approaches capable of integrating Big Data and Deep Learning algorithms into CSMs. These algorithms should have practical issues considered consider practical issues for improving the level of adaptation and performance demanded for the CSMs.Practical implicationsThe results of this study might provide considerable practical implications for the application of CSMs. As it was aimed to demonstrate the application of optimisation methods, it is highly considerable that legal and ethical issues should be better adapted to CSMs. It is also suggested improvement of studies focused on micro and small companies for sales in instalment plans and commercial credit through the improvement or new CSMs.Originality/valueThe economic reality surrounding credit granting has made risk management a complex decision-making issue increasingly supported by CSMs. Therefore, this paper satisfies an important gap in the literature to present an analysis of recent advances in optimisation methods applied to CSMs. The main contribution of this paper consists of presenting the evolution of the state of the art and future trends in studies aimed at proposing better CSMs.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"17 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2023-06-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85626142","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The study sought to determine the effect of breadth of ownership on stock performance of firms listed at the Nairobi Securities Exchange (NSE), Kenya. In this research, descriptive research design was used and the population of the study was 63 firms that were listed as at 31 st December 2019. However, only listed firms that had consistently traded during the period of study were considered. As such, only 47 companies qualified to be in the study. Yearly data for five years (December 2015 to December 2019) was collected and analyzed. Results showed that the adjusted R-Square was 0.197 which indicated that 19.7% of variance in stock performance of firms that are quoted at the NSE are explained by breadth of ownership and the control variables (size and dividend). The F – statistic was 0.006 (<5%) which implied that breadth of ownership, firm size and dividend policy collectively significantly influence stock performance for companies that are listed at the NSE. Results from the regression analysis showed that breadth of ownership (P-value=0.048) and firm size which was a control variable had a significant relationship with performance of stock at 5% significance level (p-value = 0.001) Dividend policy (control variable) had a positive but insignificant relationship with stock performance at 5% significance level. A negative association between size of company (control variable) and stock performance of listed firms at the NSE was evidenced. The study recommends that firms with a higher number of shareholders continue increasing their shareholders as it has been established that firms with many shareholders have higher stock performance. Further, the study recommends the listed firms should take into consideration the company size as it negatively affects performance. The study recommends that listed firms should increase their dividend payout since dividends are used as benchmarks for the degree of expected future growth. The study suggests that further research should be done in stock markets across the East African region to enable comparison of results and generalization of the findings.
{"title":"The Effect of Breadth of Ownership on Stock Performance for Firms Listed at the Nairobi Securities Exchange, Kenya","authors":"Timothy Juma Okello, Z. Onsomu","doi":"10.12691/jfe-11-2-2","DOIUrl":"https://doi.org/10.12691/jfe-11-2-2","url":null,"abstract":"The study sought to determine the effect of breadth of ownership on stock performance of firms listed at the Nairobi Securities Exchange (NSE), Kenya. In this research, descriptive research design was used and the population of the study was 63 firms that were listed as at 31 st December 2019. However, only listed firms that had consistently traded during the period of study were considered. As such, only 47 companies qualified to be in the study. Yearly data for five years (December 2015 to December 2019) was collected and analyzed. Results showed that the adjusted R-Square was 0.197 which indicated that 19.7% of variance in stock performance of firms that are quoted at the NSE are explained by breadth of ownership and the control variables (size and dividend). The F – statistic was 0.006 (<5%) which implied that breadth of ownership, firm size and dividend policy collectively significantly influence stock performance for companies that are listed at the NSE. Results from the regression analysis showed that breadth of ownership (P-value=0.048) and firm size which was a control variable had a significant relationship with performance of stock at 5% significance level (p-value = 0.001) Dividend policy (control variable) had a positive but insignificant relationship with stock performance at 5% significance level. A negative association between size of company (control variable) and stock performance of listed firms at the NSE was evidenced. The study recommends that firms with a higher number of shareholders continue increasing their shareholders as it has been established that firms with many shareholders have higher stock performance. Further, the study recommends the listed firms should take into consideration the company size as it negatively affects performance. The study recommends that listed firms should increase their dividend payout since dividends are used as benchmarks for the degree of expected future growth. The study suggests that further research should be done in stock markets across the East African region to enable comparison of results and generalization of the findings.","PeriodicalId":53491,"journal":{"name":"Journal of Economics, Finance and Administrative Science","volume":"8 1","pages":""},"PeriodicalIF":2.4,"publicationDate":"2023-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"79582690","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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