Effect of Accounting Information on Stock Price: Evidence from Quoted Healthcare Firms in Nigeria

This study examined the effect of accounting information on stock price of quoted Healthcare firms in Nigeria, with a view to determining whether accounting information has the ability to significantly affect stock price of Healthcare firms in Nigeria. The study used ex-post facto research design and the period covered was ten years; spanning from 2012 to 2021. Secondary data were sourced from the Nigerian Stock Exchange Fact Book and Annual financial reports of companies quoted on Healthcare sector of Nigeria stock exchange. Ordinary least square (OLS) regression method was employed for the analysis. Findings show that accounting information in terms of dividend per share has a significant positive effect on stock price of Healthcare firms in Nigeria. While earnings per share and return on equity showed no significant positive effect on stock price indicator. Based on the findings, the study recommends that the Healthcare companies should continue to channel their resources towards improving DPS to ensure that it maintains 1% level of significance; as this will enable them to have high MPPS value and invariably perform better in the stock market. The study further recommends that companies should try to maintain high EPS and ROE as though insignificant in the short run, have tendency of being significant in the long run.