Influence of Firm's Intangible Assets Intensity on Stock Prices Volatility: Evidence from Emerging Market of Pakistan Mehar Muhammad Ramzan1,*, Tahir Huda2, Nazeer Mariam2 1Lecturer at Department of Management Sciences, University of Sialkot, 1-km Daska road Sialkot, Pakistan 2Lecturer, University of Sialkot, 1-km Daska road Sialkot, Pakistan *Corresponding Author: Muhammad Ramzan Mehar Lecturer at Department of Management Sciences, University of Sialkot, 1-km Daska road Sialkot, Pakistan, Email: Ramzan.mehar@uogsialkot.edu.pk
Online published on 21 February, 2019. Abstract This particular study is about to calculate the impact of intensity in intangible assets of different firms’ listed in Pakistan stock exchange on volatility of their stock prices. The study relies on panel data of 44 sampled firms and these firms were randomly selected from six different industry groupings namely Food & Beverage, Chemicals & Pharmaceutical, Information & Telecommunication, Manufacturing, Motor vehicles and Paper Board industries. These all are listed companies in Pakistan stock exchange and collected data up to five years from 2011 to 2015. Panel Least Squares regression analysis show overall sector result is intensity of firm's intangible assets has negative effect on volatility of stock price probably because of the way that the volatility of the firm share price are driven by improbability and expectation of future development. Industrial group results shows that there is positive relation between variables in case of food & beverage and manufacturing group and other groups result shows as negative relation between these variables. Top Keywords Intangible Assets, Stock Price, Volatility, Regression, and Granger Causality. Top |