The impact of capital structure on firm performance: empirical evidence from Nigeria
This study examines the capital structure and firm performance evidence from Nigeria. The study employed a sample size of 100 non-financial firms of listed Nigerian companies in the Nigerian Stock Exchange (NSE) for a period of 2010 to 2014. The annual financial statements have been examined using...
Saved in:
Main Authors: | , |
---|---|
Format: | Article |
Language: | English |
Published: |
2016
|
Subjects: | |
Online Access: | http://repo.uum.edu.my/25789/1/IOSR-JEFF%207%204%20III%202016%2023%2030.pdf http://repo.uum.edu.my/25789/ http://doi.org/10.9790/5933-0704032330 |
Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
id |
my.uum.repo.25789 |
---|---|
record_format |
eprints |
spelling |
my.uum.repo.257892019-04-01T00:30:46Z http://repo.uum.edu.my/25789/ The impact of capital structure on firm performance: empirical evidence from Nigeria Dada, Ajayi Oziomobo Ghazali, Zahiruddin HD28 Management. Industrial Management This study examines the capital structure and firm performance evidence from Nigeria. The study employed a sample size of 100 non-financial firms of listed Nigerian companies in the Nigerian Stock Exchange (NSE) for a period of 2010 to 2014. The annual financial statements have been examined using a panel data approach to analyse the empirical study. However, Tobin’s Q and ROA are used as a proxy for the firm performance. It was found out that assets turnover and, tangible have a positive and significant relationship with Tobin’s Q. Also, risk maintains negative and significant relations with Tobin’s. Moreover, the age of a firm has negative and significant with ROA and Sales growth maintains positive and significant with ROA. Nonetheless, the finding of this study would go a long way to enhance the literature on capital structure and also the imperative for the non-financial companies in Nigeria in taking capital structure decisions as it is based on the most recent data cover the period of recession of 2008-2009 as being an adverse effect of recession on the Nigerian nonfinancial companies. 2016 Article PeerReviewed application/pdf en http://repo.uum.edu.my/25789/1/IOSR-JEFF%207%204%20III%202016%2023%2030.pdf Dada, Ajayi Oziomobo and Ghazali, Zahiruddin (2016) The impact of capital structure on firm performance: empirical evidence from Nigeria. IOSR Journal of Economics and Finance, 07 (04). pp. 23-30. ISSN 23215925 http://doi.org/10.9790/5933-0704032330 doi:10.9790/5933-0704032330 |
institution |
Universiti Utara Malaysia |
building |
UUM Library |
collection |
Institutional Repository |
continent |
Asia |
country |
Malaysia |
content_provider |
Universiti Utara Malaysia |
content_source |
UUM Institutionali Repository |
url_provider |
http://repo.uum.edu.my/ |
language |
English |
topic |
HD28 Management. Industrial Management |
spellingShingle |
HD28 Management. Industrial Management Dada, Ajayi Oziomobo Ghazali, Zahiruddin The impact of capital structure on firm performance: empirical evidence from Nigeria |
description |
This study examines the capital structure and firm performance evidence from Nigeria. The study
employed a sample size of 100 non-financial firms of listed Nigerian companies in the Nigerian Stock Exchange (NSE) for a period of 2010 to 2014. The annual financial statements have been examined using a panel data approach to analyse the empirical study. However, Tobin’s Q and ROA are used as a proxy for the firm performance. It was found out that assets turnover and, tangible have a positive and significant relationship with Tobin’s Q. Also, risk maintains negative and significant relations with Tobin’s. Moreover, the age of a firm has negative and significant with ROA and Sales growth maintains positive and significant with ROA. Nonetheless, the finding of this study would go a long way to enhance the literature on capital structure and also the imperative for the non-financial companies in Nigeria in taking capital structure decisions as it is based on the most recent data cover the period of recession of 2008-2009 as being an adverse effect of recession on the Nigerian nonfinancial companies. |
format |
Article |
author |
Dada, Ajayi Oziomobo Ghazali, Zahiruddin |
author_facet |
Dada, Ajayi Oziomobo Ghazali, Zahiruddin |
author_sort |
Dada, Ajayi Oziomobo |
title |
The impact of capital structure on firm performance: empirical evidence from Nigeria |
title_short |
The impact of capital structure on firm performance: empirical evidence from Nigeria |
title_full |
The impact of capital structure on firm performance: empirical evidence from Nigeria |
title_fullStr |
The impact of capital structure on firm performance: empirical evidence from Nigeria |
title_full_unstemmed |
The impact of capital structure on firm performance: empirical evidence from Nigeria |
title_sort |
impact of capital structure on firm performance: empirical evidence from nigeria |
publishDate |
2016 |
url |
http://repo.uum.edu.my/25789/1/IOSR-JEFF%207%204%20III%202016%2023%2030.pdf http://repo.uum.edu.my/25789/ http://doi.org/10.9790/5933-0704032330 |
_version_ |
1644284427078991872 |
score |
13.149126 |