Capital Structure And Financial Performance Of Selected Consumer Good Firms In Nigeria

Sat, 02 May 2026 09:30:21 +0000

Abstract

Decision on gearing is a very important aspect of Corporate Financing process which cannot be overemphasized by any organisation because of its implications on the performance and long run organisational survival. This study analysed the connection between Nigerian manufacturing companies' financial structure and performance using design of ex post facto research. Secondary sources of data for Eight (8) Nigerian manufacturing companies that are listed and have been operating for at least 8 years considering their performances as reflected in their shares for ten years (2015 to 2024) sourced from their published financial statements. Response variable was ROA, a proxy for financial performance calculated as Profit/Total Assets, while independent variable was Capital structure proxy Equity Ratio and Debt Ratio. Analysis including descriptive statistics and correlation matrix were carried out. The outcome of the analysis using Pooled Ordinary Least Square showed that both equity ratio and debt ration positively and significantly impacted return on assets of the selected manufacturing companies under review, the study recommended that Firms should seek professional advice from time to time to fix capital structure that will always maximise shareholders wealth, minimise cost of capital and increase firm’s value.

Impact of Oil Revenue and Exchange Rate Fluctuations on Economic Output Performance in Nigeria

Gabriel Bola Amusan , Oluwagboyega Alaba ALAO , John Olayemi ADEYEMI — Sat, 02 May 2026 10:02:15 +0000

This study utilized ex-post facto research design. Secondary data from annual time series covering forty- three years (1981- 2023) obtained from CBN yearly publication (2024) and World Development Indicators (WDI, 2024). Predicted variable was the economic output performance measured using GDP, while exchange rate fluctuations and oil revenue represented the manipulated variable. In the meantime, to prevent the issue of omission variable mistakes from ever occurring, external debt and rate of inflation were adopted as control variables. Data sourced were evaluated using descriptive statistics for preliminary examination. ARDL was employed to assess the relationship between the variables, the empirical outcomes demonstrated that exchange rate fluctuations remarkably influenced output performance of the economy in Nigeria. Meanwhile, revenue from oil had adverse and statistically significant influence on economic output performance as measured by GDP. The study suggested a need for public authority to diversify the economy and consider effective management of exchange rate and oil revenue to promote sustainable output performance.

Global Journal of Accounting

Capital Structure And Financial Performance Of Selected Consumer Good Firms In Nigeria

Impact of Oil Revenue and Exchange Rate Fluctuations on Economic Output Performance in Nigeria