Capital Structure and Financial Performance of Quoted Telecommunication Companies in Nigeria

Adejuwon Joshua Adewale (), Lasisi Abisola Mutiat () and Adejuwon Adefisayo Oluwakemi ()
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Adejuwon Joshua Adewale: Department of Management and Accounting, Postal: Lead City University, Ibadan,, Nigeria, https://www.afarng.org/Volume3Issue1June2023.php
Lasisi Abisola Mutiat: Department of Management and Accounting, Postal: Lead City University, Ibadan,, Nigeria, https://www.afarng.org/Volume3Issue1June2023.php
Adejuwon Adefisayo Oluwakemi: Department of Management and Accounting, Postal: Lead City University, Ibadan,, Nigeria,, https://www.afarng.org/Volume3Issue1June2023.php

Multidisciplinary Journal of Social Sciences, 2023, vol. 3, issue 1, 152-180

Abstract: Capital structure is a mixture of the financing options a company uses to finance its investments. However, deciding on an optimal capital mix has been a huge task for most telecommunication companies. The main objective of this study is to examined the effect of capital structure on performance of the quoted telecommunication companies in Nigeria. The study used an ex-post facto research design. The study population consisted of 9 quoted telecommunication companies on Nigeria Stock exchange. The purposive sampling technique was adopted to select a sample of seven (7) telecommunication firms for the period of ten years (2012-2021). Data for this study were extracted from the published annual reports and accounts of the sampled companies and validated by the statutory auditors. Data were analyzed using descriptive and inferential statistics. The study found that short term debt, long term debt, equity and total debt had joint and significant effect on profit before tax, return on asset, return on equity and return on capital employed of quoted telecommunication companies in Nigeria. (PBT – Adj. R2 =0.8034, Wald test = 71.51 p

Keywords: Capital structure; Performance; Profit before tax; Return on asset; Return on equity (search for similar items in EconPapers)
Date: 2023
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