This paper is the effect of dividend payment on the market prices of shares in Nigeria: A study of 17 quoted firms using time series on dividend per share, dividend yield and dividend payout ratio that ranges between 2000 and 2011. The model specification for the analysis of data is ordinary least squares techniques applied as panel estimation. The researchers empirical results arising from the panel least squares suggests a positive effect between market price per share and dividend per share confirming that a rise in dividend per share brings about an increase in the market price per share of quoted firms; that dividend yield does not have a significant positive effect on the market prices of shares of quoted firms in Nigeria; that there exists a direct relationship between market prices per share and dividend payout ratio of selected firms on the NSE. Further, the study revealed that significant variations exist in the movement of the share prices of the selected firms which in theory could be attributed to the forces of demand and supply while in practice could be attributed to some other exogenous and endogenous variables such as economic policies, corporate managerial decisions, psycho-social variables, political situations and institutional parameters. Thus it was concluded and recommended that, earnings remain the most significant determinant of dividend payment averagely, hence it has significant influences on the market value of public owned firms in Nigeria and the world all over.The dividend payment, dividend per share, dividend yield, dividend payout ratio and earning per share are significant in explaining the observed differences in share market prices of quoted firms in Nigeria. The government must contribute by relaxing laws that spell threat to the objectives of firms i.e. maximization of shareholders' wealth.
The Study examined the effect of Performance appraisal on Employee productivity in Nigerian banking sector using Eco Bank of Nigeria Abakaliki Branch, Ebonyi State. The specific objectives were to determine the effect of performance appraisal design and method (PADM)on employee productivity (EP) in Nigerian banking sector, examine the effect of performance appraisal process (PAP) on employee productivity (EP) in Nigerian banking sector and evaluate the effect of performance-based reward (PBR) on employee productivity (EP) in Nigerian banking sector. The independent variable performance appraisal proxied by performance appraisal design and method (PADM), performance appraisal process (PAP) and performance-based reward (PBR) while dependent variable, employee productivity (EP). The descriptive research design was used for the study. The main theories that under pinned the research were the equity theory, goal-setting theory and hierarchy of needs theory. The SPSS version 20 software statistical package was used to run the Panel ordinary least square (OLS) for the study. The multiple regression model was applied in determining the extent of the effect of independent variable (performance appraisal) on dependent variable (employee productivity) of banking sector under investigation. The regression result indicated that performance appraisal design and method (PADM) and performance-based reward (PBR) have positive and insignificant effect on employee productivity while performance appraisal process (PAP) has positive and significant effect on employee productivity (EP) in banking sector. The implication of this finding is that a percentage increase of performance appraisal design and method (PADM), performance appraisal process (PAP) and performance-based reward (PBR) will lead to an increase on the employee productivity. Based on the findings, the researcher recommended among others that the organization should reduce the impressio n given to the employee on the design and method of measure appraisal if they are not sure of the methods. Also, performance appraisal process should however be evaluated periodically to determine how they conduct performance appraisals.
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