Impact Of Capital Expenditure On Stock Returns Of Quoted Deposit Money Banks In Nigeria

ABSTRACTThe study empirically investigates the impact of capital expenditure on stock returns of quoted deposit money banks in Nigeria for a period of 17 years (1998 to 2014), and the implications of such findings. In order to obtain the dynamic properties of the analysis, time series estimation techniques were applied in the study. Essentially, the correlation coefficient and the ordinary least squared (OLS) econometric method were employed. The results from the empirical analysis show that bank capital structure does not have any significant impact on bank stock returns in Nigeria; firm size…