Financial Policy and Corporate Performance: An Empirical Analysis of Nigerian Listed Companies

Simple item page
dc.contributor.authorSALAWU, Rafiu Oyesola
dc.contributor.authorASAOLU, Taiwo Olufemi
dc.contributor.authorYINUSA, Dauda Olalekan
dc.date.accessioned2020-01-16T10:59:22Z
dc.date.available2020-01-16T10:59:22Z
dc.date.issued2012-04-01
dc.descriptionInternational Journal of canadian Center of Science and Education,VOL .4,NO.4,P.175-181en_US
dc.description.abstractThis study investigates the effects of financial policy and firm specific characteristics on corporate performance. Panel data covering a period from 1990 to 2006 for 70 firms were analyzed. Pooled OLS, Fixed Effect Model and Generalized Method of Moment panel model were employed in the estimation and data were sourced from the annual report and financial statement of the sampled firms. The estimation of the dynamic panel-data results show that long-term debts, tangibility, corporate tax rate, dividend policy, financial and stock market development were all positively related with firms’ performance. Furthermore, the positive relationship between stock market development and ROA suggest that as stock market develops, various investment opportunities are opened to firms. Therefore, there is need to monitor the performance of these variables in order to stabilize and enhance performance of listed firms in Nigeria. In addition, the result shows that growth, size and foreign direct investment are negatively related with firms’ performance (ROA). In addition, the result indicates that higher income variability increases the risk that a firm may not be able to cover its interest payment, leading to higher expected costs of financial distress. This may leads to reduce their profitability. The results of the study generally support existing literature on the impact of financial policy on corporate performance.en_US
dc.identifier.other10.5539/ijef.v4n4p175
dc.identifier.urihttps://ir.oauife.edu.ng/handle/123456789/5058
dc.language.isoenen_US
dc.publisherCanadian Center of Science and Educationen_US
dc.subjectFirmsen_US
dc.subjectperformanceen_US
dc.subjectGMMen_US
dc.subjectFinancial policyen_US
dc.titleFinancial Policy and Corporate Performance: An Empirical Analysis of Nigerian Listed Companiesen_US
dc.typeJournalen_US
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
Financial_Policy_and_Corporate_Performance_An_Empi.pdf
Size:
257.72 KB
Format:
Adobe Portable Document Format
Description:
Journal article
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
Department of Economics-Journal Articles