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ABSTRACT
The study examined the relationship between founder-led businesses and Market value of manufacturing firms in Nigeria. However, the specific objectives of the study were to examine the relationship between founder-led businesses and the price-to-earnings (P/E) ratio of manufacturing firms listed on the Nigerian Exchange Group (NGX), to investigate the relationship between founder-led businesses and earnings per share (EPS) of manufacturing firms listed on the NGX and to determine the relationship between founder-led businesses and market value per share of manufacturing firms listed on the NGX. Among the various tools at the researcher's disposal, the quantitative research design was used. Data was sourced from secondary sources as a result of time and resources constraints. The population of interest for this study comprised the 75 manufacturing firms listed on the Nigerian Exchange Group (NGX) as at December, 2022. The focus was on founder-led businesses within this population. To ensure the study’s feasibility, a convenience sampling technique was utilized. A sample size of 33 manufacturing firms from the population that meet predetermined criteria. The study found that a firm’s market value is likely influenced by external factors, such as macroeconomic conditions, market competition, or the asset base, rather than leadership structure alone. Based on the findings and conclusions of the study, the study recommended amongst other things that Founder-led firms should emphasize their leadership identity in investor relations and branding to maintain or enhance their valuation premium.
