Debt and the Excess Value of Diversified Firms: Evidence from Nigeria
Ibeawuchi Ibekwe,
Pedkuna Siliya
Abstract:The purpose of this study was to examine the relationship between debt and the value and excess value of diversified firms in Nigeria. This is against the background that there is no consensus on the factors that distinguish value-creating from value-destroying diversified firms. Data were collected from the annual reports of 62 diversified firms listed on the Nigerian Stock Exchange between 2008 and 2018. The multilevel generalized method of moments technique in the REndo package in the R Statistical Package … Show more
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