ISSN(Print):   2664-0422 - ISSN(Online):   2664-0430 - ISSN-L:   2664-0422
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PAKISTAN SOCIAL SCIENCES REVIEW (PSSR)

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RESEARCH OF SOCIAL SCIENCES (SMC-PRIVATE) LIMITED(ROSS) & PAKISTAN SOCIAL SCIENCES REVIEW (PSSR) adheres to Creative Commons Attribution-Non Commercial 4.0 International License. The authors submitting and publishing in PSSR agree to the copyright policy under creative common license 4.0 (Attribution-Non Commercial 4.0 International license). Under this license, the authors published in PSSR retain the copyright including publishing rights of their scholarly work and agree to let others remix, tweak, and build upon their work non-commercially. All other authors using the content of PSSR are required to cite author(s) and publisher in their work. Therefore, RESEARCH OF SOCIAL SCIENCES (SMC-PRIVATE) LIMITED(ROSS) & PAKISTAN SOCIAL SCIENCES REVIEW (PSSR) follow an Open Access Policy for copyright and licensing.

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How to Cite

The Relationship between Fundamental Variables and Stock Returns in the Oil and Gas Companies of Pakistan

Abstract

This paper investigates the relationship between annual stock returns, book to market ratio, dividend yield ratio and price to earnings ratio. A sample of twelve oil and gas sector companies listed on the Pakistan Stock Exchange (PSX) were selected. The annual average values for the suggested variables from 2008 to 2017 were obtained and calculated. The panel data regression method using random effect model was applied. The result of the paper show that only book to market ratio has positive correlation and has a significant impact on the stock returns and has the ability to predict future returns for investors. While, the other ratios, like, dividend yields, price to earnings ratio have a positive correlation but insignificant impact on the stock returns. Findings of this study suggest that investors can use and apply the investment criteria that utilizes book to market ratio to earn returns on their investment and minimize the risk on the investments.

Authors

  • Arsalan Ali Faisal
  • MBA student, Institute of Management Sciences, University of Balochistan, Quetta, Balochistan, Pakistan
  • Safia Bano
  • Assistant Professor, Institute of Management Sciences, University of Balochistan, Quetta, Balochistan, Pakistan
  • Nadir Khan
  • Assistant Professor, Institute of Management Sciences, University of Balochistan, Quetta, Balochistan, Pakistan

Keywords

Book to Market, Dividend Yield, Panal Data, Regression, Price to Earnings Ratio, Random Effect Model, Stock Returns, Corresponding

DOI Number

10.35484/pssr.2022(6-II)90

DOI Link

http://doi.org/10.35484/pssr.2022(6-II)90

Page Nos

1012-1025

Volume & Issue

v6-2

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Creative Commons License
Pakistan Social Sciences Review (PSSR) by RESEARCH OF SOCIAL SCIENCES (SMC-PRIVATE) LIMITED(ROSS) is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Based on a work at https://pssr.org.pk/

Pakistan Social Sciences Review (PSSR), Developed by M. Yaseen

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