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Factors Influencing Investors Decisions in Shares of Quoted Companies in Nigeria

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  • Omo Aregbeyen*
  • Stanley Ogochukwu Mbadiugha*

Abstract

There has been significant investment in shares market in Nigeria in recent years. This paper investigates the factors that have influenced the share investment decisions of a sample of 2000 Nigerian investors. Anchored on the behavioral finance theory, it explored and analysed the influence of various social, economic, psychological, and cultural factors and sub-groups as indicated by available literature. Our findings showed the degree of influence of each factor as well as the sub-groups. However, there were no significant differences among the subgroups. The study therefore concluded that investment decisions in shares by Nigerians investors are influenced jointly by several groups of factors.

Suggested Citation

  • Omo Aregbeyen* & Stanley Ogochukwu Mbadiugha*, 2012. "Factors Influencing Investors Decisions in Shares of Quoted Companies in Nigeria," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 22, pages 53-65.
    • Handle: RePEc:pje:journl:article12iii
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    References listed on IDEAS

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    2. Fama, Eugene F, 1970. "Efficient Capital Markets: A Review of Theory and Empirical Work," Journal of Finance, American Finance Association, vol. 25(2), pages 383-417, May.
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