Financial Factors and Their Relative Importance Analysis in Peruvian Gold Mining Companies’ Stock Price
| Autor: | Jose Fernando Vilcarromero Arbulu, Pedro Bernabe Venegas Rodriguez, Jimmy Alberth Deza Quispe, Jorge Luis Castilla Raimundo, Nivardo Alonzo Santillan Zapata |
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| Rok vydání: | 2021 |
| Předmět: |
Finance
Variables business.industry Earnings per share media_common.quotation_subject 05 social sciences Economics Econometrics and Finance (miscellaneous) Dividend yield Regression analysis 050201 accounting Order (exchange) Accounting 0502 economics and business Economics Dividend Common stock 050207 economics Business and International Management business Stock (geology) media_common |
| Zdroj: | International Journal of Financial Research. 12:251 |
| ISSN: | 1923-4031 1923-4023 |
| DOI: | 10.5430/ijfr.v12n2p251 |
| Popis: | The current research examined the relationship and relative importance of financial regressors on Peruvian gold mining companies´ stock prices from 2009 to 2018. Chosen regressors were earnings per share, dividend per share and dividend yield. Fixed effects analysis was employed for regression analysis and decomposition for the relative importance study. Assumptions of stationarity, independence, no-multicollinearity, homoscedasticity and specification were fulfilled. Also, the values of Owen and Shapley were employed for decomposing . It was found that earnings per share and dividend per share had a positive effect on the dependent variable; while dividend yield was found to be negatively related to stock price. Moreover, by the usage of decomposition it was noticed that the order of regressors importance was earnings per share, dividend per share and dividend yield. Then, it was stated that gold mining stock prices had a high dependence on profits and dividend payments in the analyzed period which can be related to the bearer’s expectations. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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