{"title":"公司属性与上市公司财务绩效:来自尼日利亚的证据","authors":"C. Akenroye, F. Adegbie, S. Owolabi","doi":"10.26772/cijds-2022-05-01-01","DOIUrl":null,"url":null,"abstract":"The survival, stability, sustenance and going concern objectives of corporate entities in competitive business environment are driven by uniquely formulated financial performance strategy to drive the achievement of consistent and positive growth. However, firms’ improper utilization of internal attributes has given rise to stunted corporate growth rate, declining net profit margin and negative capital employed performance among listed firms in Nigeria. This study investigates the effect of firms’ attributes on financial performance measures of selected listed companies in Nigeria. The study adopted ex-post facto research design. The population of the study comprised 161 listed companies in Nigeria as at 31st December 2020. A sample size of 111 was purposively determined for the study. Multistage techniques (stratification and quota) were utilized in selecting the 111 firms studied. Secondary data extracted from the published audited financial statements for 10-year period (2011–2020) were used for the study. Descriptive and inferential (multiple regression) statistics were employed to analyze the data. Findings revealed that firms’ attributes had joint significant effect on Net Profit Margin (Adj. R2 = 0.0073, F(3, 1106) = 6.45, p < 0.05) and on Capital Employed Performance (Adj. R2 = 0.018, F(3, 1106) = 31.18, p < 0.05). The study concludes that firms’ attributes drive the achievement of optimal corporate financial performance. The study recommends that firms should continue to use their varied firms’ attributes to deepen their financial performance growth.","PeriodicalId":236629,"journal":{"name":"Caleb International Journal of Development Studies","volume":"1 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":"{\"title\":\"FIRMS' ATTRIBUTES AND FINANCIAL PERFORMANCE OF QUOTED COMPANIES: EVIDENCE FROM NIGERIA\",\"authors\":\"C. Akenroye, F. Adegbie, S. Owolabi\",\"doi\":\"10.26772/cijds-2022-05-01-01\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The survival, stability, sustenance and going concern objectives of corporate entities in competitive business environment are driven by uniquely formulated financial performance strategy to drive the achievement of consistent and positive growth. However, firms’ improper utilization of internal attributes has given rise to stunted corporate growth rate, declining net profit margin and negative capital employed performance among listed firms in Nigeria. This study investigates the effect of firms’ attributes on financial performance measures of selected listed companies in Nigeria. The study adopted ex-post facto research design. The population of the study comprised 161 listed companies in Nigeria as at 31st December 2020. A sample size of 111 was purposively determined for the study. Multistage techniques (stratification and quota) were utilized in selecting the 111 firms studied. Secondary data extracted from the published audited financial statements for 10-year period (2011–2020) were used for the study. Descriptive and inferential (multiple regression) statistics were employed to analyze the data. Findings revealed that firms’ attributes had joint significant effect on Net Profit Margin (Adj. R2 = 0.0073, F(3, 1106) = 6.45, p < 0.05) and on Capital Employed Performance (Adj. R2 = 0.018, F(3, 1106) = 31.18, p < 0.05). The study concludes that firms’ attributes drive the achievement of optimal corporate financial performance. 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引用次数: 2
摘要
在竞争激烈的商业环境中,企业实体的生存、稳定、维持和持续经营目标是通过制定独特的财务绩效战略来推动实现持续和积极的增长。然而,由于企业对内部属性的利用不当,导致尼日利亚上市公司的企业增长率停滞不前,净利润率下降,资本使用业绩为负。本研究考察了公司属性对尼日利亚选定上市公司财务绩效指标的影响。本研究采用事后研究设计。该研究的对象包括截至2020年12月31日尼日利亚的161家上市公司。本研究的样本量为111例。采用多阶段技术(分层和配额)来选择所研究的111家企业。从公布的10年(2011-2020年)经审计的财务报表中提取的二手数据用于研究。采用描述性统计和多元回归统计对数据进行分析。研究发现,企业属性对净利润率(Adj. R2 = 0.0073, F(3,1106) = 6.45, p < 0.05)和资本使用绩效(Adj. R2 = 0.018, F(3,1106) = 31.18, p < 0.05)具有联合显著影响。研究得出结论:企业属性驱动企业财务绩效达到最优。该研究建议,企业应继续利用其不同的公司属性来深化其财务绩效增长。
FIRMS' ATTRIBUTES AND FINANCIAL PERFORMANCE OF QUOTED COMPANIES: EVIDENCE FROM NIGERIA
The survival, stability, sustenance and going concern objectives of corporate entities in competitive business environment are driven by uniquely formulated financial performance strategy to drive the achievement of consistent and positive growth. However, firms’ improper utilization of internal attributes has given rise to stunted corporate growth rate, declining net profit margin and negative capital employed performance among listed firms in Nigeria. This study investigates the effect of firms’ attributes on financial performance measures of selected listed companies in Nigeria. The study adopted ex-post facto research design. The population of the study comprised 161 listed companies in Nigeria as at 31st December 2020. A sample size of 111 was purposively determined for the study. Multistage techniques (stratification and quota) were utilized in selecting the 111 firms studied. Secondary data extracted from the published audited financial statements for 10-year period (2011–2020) were used for the study. Descriptive and inferential (multiple regression) statistics were employed to analyze the data. Findings revealed that firms’ attributes had joint significant effect on Net Profit Margin (Adj. R2 = 0.0073, F(3, 1106) = 6.45, p < 0.05) and on Capital Employed Performance (Adj. R2 = 0.018, F(3, 1106) = 31.18, p < 0.05). The study concludes that firms’ attributes drive the achievement of optimal corporate financial performance. The study recommends that firms should continue to use their varied firms’ attributes to deepen their financial performance growth.