{"title":"财务管理实践对尼日利亚上市制造业和石油天然气公司业绩的比较研究","authors":"L. Fijabi, S. Owolabi, A. Ajibade","doi":"10.26772/cijds-2022-05-01-05","DOIUrl":null,"url":null,"abstract":"This study carried out a comparative study on influence of the financial management practices on the performance of the quoted manufacturing and oil and gas firms in Nigeria. The study specifically assessed the financial management practices and return on equity of the manufacturing firms to determine whether they are significantly different from those of oil and gas firms. The ex post facto research design was used. Data were obtained from the annual reports and accounts of the sampled firms of both sectors for the period 2006-2020. A purposive simple random sampling was adopted to select sample from 52 manufacturing firms and 11 oil and gas firms. Descriptive statistics and multiple regression model were used to analyze the data. The findings showed that strategic financial management practices jointly had significant effect on return on equity of listed manufacturing (Adj. R2 = 0.0046, Chi2(5) = 64.07, p < 0.05) and oil and gas firms (Adj. R2 = 0.555, F(5,114) = 30.78, p < 0.05). The regression results revealed that debt finance has a positive and insignificant relationship with return on equity of both sectors. Investing activities, dividend payout, working capital, and total asset turnover had negative effect on return on equity of the manufacturing firms but positive effect in oil and gas firms in Nigeria. The study recommended that the investors should consider appropriate variables that help them determine choice of a sector for investment purpose before they commit their hard earned resources","PeriodicalId":236629,"journal":{"name":"Caleb International Journal of Development Studies","volume":"7 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2022-06-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":"{\"title\":\"A COMPARATIVE STUDY OF FINANCIAL MANAGEMENT PRACTICES ON THE PERFORMANCE OF QUOTED MANUFACTURING AND OIL AND GAS FIRMS IN NIGERIA\",\"authors\":\"L. Fijabi, S. Owolabi, A. Ajibade\",\"doi\":\"10.26772/cijds-2022-05-01-05\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"This study carried out a comparative study on influence of the financial management practices on the performance of the quoted manufacturing and oil and gas firms in Nigeria. The study specifically assessed the financial management practices and return on equity of the manufacturing firms to determine whether they are significantly different from those of oil and gas firms. The ex post facto research design was used. Data were obtained from the annual reports and accounts of the sampled firms of both sectors for the period 2006-2020. A purposive simple random sampling was adopted to select sample from 52 manufacturing firms and 11 oil and gas firms. Descriptive statistics and multiple regression model were used to analyze the data. The findings showed that strategic financial management practices jointly had significant effect on return on equity of listed manufacturing (Adj. R2 = 0.0046, Chi2(5) = 64.07, p < 0.05) and oil and gas firms (Adj. R2 = 0.555, F(5,114) = 30.78, p < 0.05). The regression results revealed that debt finance has a positive and insignificant relationship with return on equity of both sectors. Investing activities, dividend payout, working capital, and total asset turnover had negative effect on return on equity of the manufacturing firms but positive effect in oil and gas firms in Nigeria. The study recommended that the investors should consider appropriate variables that help them determine choice of a sector for investment purpose before they commit their hard earned resources\",\"PeriodicalId\":236629,\"journal\":{\"name\":\"Caleb International Journal of Development Studies\",\"volume\":\"7 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2022-06-30\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"1\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Caleb International Journal of Development Studies\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.26772/cijds-2022-05-01-05\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Caleb International Journal of Development Studies","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.26772/cijds-2022-05-01-05","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 1
摘要
本研究对尼日利亚上市的制造业和油气公司财务管理实践对业绩的影响进行了比较研究。该研究特别评估了制造企业的财务管理实践和股本回报率,以确定它们是否与石油和天然气企业有显著差异。采用事后研究设计。数据来自这两个行业抽样公司2006-2020年期间的年度报告和账目。采用有目的的简单随机抽样方法,从52家制造业企业和11家油气企业中抽取样本。采用描述性统计和多元回归模型对数据进行分析。结果表明,战略财务管理实践对制造业上市公司(R2 = 0.0046, Chi2(5) = 64.07, p < 0.05)和油气公司(R2 = 0.555, F(5,114) = 30.78, p < 0.05)的净资产收益率有显著影响。回归结果显示,债务融资与两部门的净资产收益率之间存在显著的正相关关系。投资活动、股息支付、营运资金和总资产周转率对尼日利亚制造公司的股本回报率产生负面影响,但对石油和天然气公司产生积极影响。该研究建议投资者在投入来之不易的资源之前,应考虑适当的变量,以帮助他们确定投资目的的行业选择
A COMPARATIVE STUDY OF FINANCIAL MANAGEMENT PRACTICES ON THE PERFORMANCE OF QUOTED MANUFACTURING AND OIL AND GAS FIRMS IN NIGERIA
This study carried out a comparative study on influence of the financial management practices on the performance of the quoted manufacturing and oil and gas firms in Nigeria. The study specifically assessed the financial management practices and return on equity of the manufacturing firms to determine whether they are significantly different from those of oil and gas firms. The ex post facto research design was used. Data were obtained from the annual reports and accounts of the sampled firms of both sectors for the period 2006-2020. A purposive simple random sampling was adopted to select sample from 52 manufacturing firms and 11 oil and gas firms. Descriptive statistics and multiple regression model were used to analyze the data. The findings showed that strategic financial management practices jointly had significant effect on return on equity of listed manufacturing (Adj. R2 = 0.0046, Chi2(5) = 64.07, p < 0.05) and oil and gas firms (Adj. R2 = 0.555, F(5,114) = 30.78, p < 0.05). The regression results revealed that debt finance has a positive and insignificant relationship with return on equity of both sectors. Investing activities, dividend payout, working capital, and total asset turnover had negative effect on return on equity of the manufacturing firms but positive effect in oil and gas firms in Nigeria. The study recommended that the investors should consider appropriate variables that help them determine choice of a sector for investment purpose before they commit their hard earned resources