Abstract: The purpose of this study is to explore the link between ownership concentration and the market value of listed companies using data from the selected 21 banks listed on the Nigeria Stock Exchange during the period of 2008 - 2012. The hypothesis formulated and tested for the study was that there is no significant relationship between ownership concentration and market value of listed companies. Ownership concentration was considered as independent variable while market value was considered as dependent variable. Ownership concentration was measured by the amount of stock owned by individual investors and large –block shareholders divided by total stock. Market value was determined using the stock prices. The firm specific control variables were loan performance, profitability and firm size of the selected companies. Descriptive statistics was used to analyze the data while least square regression method was used to draw inference on the relationship between ownership concentration and firm value. The result indicates that a positive significant relationship exists between a firm value and ownership concentration.
Keywords: Banking Sector, Firm Value, Ownership Concentration.
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