CAPITAL STRUCTURE AND PERFORMANCE OF LISTED MANUFACTURING COMPANIES IN NIGERIA ABIODUN OLUWOLE OGUNDARE

Abstract

The study sought to examine the influence of Capital Structure on the Performance of Quoted Nigerian Manufacturing Firms with a view to establishing the relationship between of Capital Structure and Performance. Research design was ex-post facto while the study used a cross-sectional time series analysis. The population of the study was 84 (Eighty-Four) Nigerian Manufacturing Firms listed on the stock Exchange and the sample size was Forty –two manufacturing firms out of the 84 listed in the Nigerian Stock Exchange with complete data were selected using purposive sampling technique. Secondary data sourced for the study were obtained from the annual reports and factbook of the selected companies for the period of ten years (10) years from 2012 – 2022. Data were analyzed using descriptive and inferential statistics. The findings of the study revealed that there was a significant relationship between Capital structure and return on assets and return on investment of the selected manufacturing firms in Nigeria. Therefore, the null hypothesis was rejected which stated that Capital structure had no significant relationship with performance of quoted manufacturing companies in Nigeria.