CAPITAL STRUCTURE AND FINANCIAL PERFORMANCE OF LISTED INDUSTRIAL GOODS FIRMS IN NIGERIA
Abstract
ABSTRACT
This study examined the capital structure and financial results of Nigerian listed industrial goods companies. This investigation was required due to the declining rate of company operations that has impacted the revenue base of the nation's listed industrial products enterprises. The research's sample size comprised thirteen (13) Nigerian industrial goods companies that were listed. The study used secondary data from Nigerian industrial goods companies' annual reports and accounts. The panel regression model was used to evaluate the data. The results show that short-term debt (Coeff=0.011; pvalue=0.05) and equity capital (Coeff=-0.0005; pvalue=0.12>0.05) have a negative insignificant strong association with return on asset in Nigerian listed industrial products enterprises. Return on asset was found to be positively correlated with the significant level of 0.12>0.05). Meanwhile, the return on assets of listed industrial goods in Nigeria is positively significantly impacted by long-term debt (Coeff = 0.015; p-value = 0.015
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