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All Journal Journal of Mathematics Instruction, Social Research and Opinion Journal of General Education and Humanities
Pitambar Lamichhane
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Humanities Education Languange, Linguistic, Communication & Media Mathematics Social Sciences Other

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Impact of Firm’s Fundamentals on Return of Stocks in Nepal Pitambar Lamichhane; Bashu Dev Dhungel
Journal of Mathematics Instruction, Social Research and Opinion Vol. 3 No. 1 (2024): March
Publisher : MASI Mandiri Edukasi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58421/misro.v3i1.174

Abstract

Return on stock is the chief concern of firm investors. Investors prefer better stock returns, and management focuses on increasing stock returns for wealth maximization. Internal factors are the firm fundamentals, and external factors are various macroeconomic variables that influence stock returns. This paper uses descriptive and causality research designs to examine the impact of firm fundamentals on stock returns in Nepal for the fiscal year 2007/08-2021/22. In this paper, the dependent variable is stock return and firm fundamentals such as earnings per share (EPS), book-to-market equity (BME), size of market value of equity (lnME), cash flow yields (CFY), and earning yield (EY) are used as explanatory variables. The correlation result shows that EPS, BME, and EY have positive relationships, and lnME and CFY have negative relationships with stock returns. The regression results reveal the positive impact of EPS, BME, and EY on stock returns in Nepalese firms. This indicates that higher EPS, BME, and EY lead to increased firms’ stock returns. Further, the result reports that lnME and CFY have an inverse influence on returns. Finally, the finding concludes that earnings per share, book-to-market equity, size of market value equity, and cash flow yields are strong, but earnings yield has a weak impact on the stock returns of firms in Nepal. Policymakers, investors, and academicians can implement the findings of this study for effective formulation and application of policies, maximize stock returns, and research activities.
Risk Tolerance, Overconfidence and Investment Decisions in Nepal Pitambar Lamichhane; Arogya Simkhada
Journal of General Education and Humanities Vol. 3 No. 2 (2024): May
Publisher : MASI Mandiri Edukasi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58421/gehu.v3i2.244

Abstract

In the present globalized, modernized and digitalized business environment, investors are attracted to the stock market for their investment in financial assets rather than real assets. Investors' Investment decisions are affected by various factors affecting their investment in financial assets in the stock market.  This research intends to address problems of how investors’ psychological factors (risk attitude & overconfidence) influence their investment decisions. Therefore, this paper examines the impact of investors’ risk tolerance capacity and overconfidence level on investors’ investment decisions in Nepal. This study has applied descriptive and causality (regression) research designs to investigate the effect of risk tolerance and overconfidence on investment decisions based on financial behavior theories. Data were obtained through the structured questionnaire survey. Investment decision-making is considered a dependent variable in this research, and risk tolerance and investors' overconfidence levels are used as explanatory variables. The correlation result reveals positive associations between explanatory variables and investment decisions. The regression result of this research study concludes that risk tolerance capacity and overconfidence level both significantly impact investors’ investment decisions in the Nepalese stock market. Therefore, policymakers, regulatory bodies, decision makers, market traders, and academics should focus on investors’ risk tolerance ability and overconfidence level to enhance investors' ability to make sound investment decisions to maximize their returns and minimize risk in Nepal.
Co-Authors Arogya Simkhada Bashu Dev Dhungel