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Apr 30, 2017Keywords:
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Impact of share prices of listed livestock-based companies on performance of the Nigerian livestock sub-sector
Abstract
The performance of any sector of the economy is primarily determined by companies operating in such a sector. The performance of listed companies using livestock products as a primary raw material reflects in the prices in which their shares are traded in the stock market. This article examined the impact of listed livestock-based companies' share prices on the Nigerian livestock subsector's performance (1996- 2016). The specific objectives were to identify some listed livestock companies in the Nigerian Stock Exchange (NSE); examine the trend of share prices and the number of shares of the listed livestock companies; and examine the listed companies' short-run and long-run impact of share prices on the Nigerian livestock sector performance. The data were sourced from Nigeria Stock Exchange and the World Bank Development Indicators, while descriptive statistics, unit root test, Johnsen cointegration, and error correction models were applied for the data analysis. The result showed that some listed livestock companies in the Nigerian Stock exchange are Livestock Feed Nigeria PLC, Nestle Nigeria PLC, and UAC Nigeria PLC. The livestock-based companies quoted in the NSE have a long-run impact on Nigeria's livestock sub-sector performance. The livestock sub-sectors long-term performance is hinged on the stock of companies operating in the sector. The government and entrepreneurs therefore, should invest more in companies operating in the sector.
