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Scholars Journal of Economics, Business and Management | Volume-4 | Issue-02
The Impact of Economic Value Added (EVATM) on Stock Returns in Nigeria
Ahmed Adeshina Babatunde, Okene Christian Evuebie
Published: Feb. 27, 2017 | 174 103
DOI: 10.36347/sjebm.2017.v04i02.006
Pages: 89-93
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Abstract
The purpose of this paper is to investigate the impact of economic value added (EVATM) on stock returns in Nigeria. This research has been performed using a sample of 60 companies quoted on the Nigeria Stock Exchange (NSE) from 2004 to 2015. The relationship EVA and stock returns was observed. The results of the OLS regression analysis were statistically significant at 0.05 level. The F Statistics of 1.036 also shows that the result typically explained the model. The correlation coefficient also shows a significant positive relationship between EVA and stock returns in Nigeria. The findings of the study confirmed that EVA increases stock returns in Nigeria.