Financial Structure and Corporate Profitability of Firms in Nigeria: Does Firm Age Act as a Moderator?

Hwerien Rosemary Idamoyibo
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Hwerien Rosemary Idamoyibo: Department of Accounting, Delta State University, Abraka, Nigeria.

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 7, 2259-2271

Abstract: The study determines the relationship between the financial structure and profitability of listed firms in the conglomerate sector in Nigeria, 2000-2020. It used secondary data sourced from the annual reports and accounts of the firms. The sample size comprised six conglomerate firms listed on the Nigerian Exchange Group as the sample size. Descriptive statistics and cross-sectional panel regression analysis were employed to analyze the data using E-view version 10.0 software. The results show that debt-equity financing has a significant relationship with return on equity, and the moderating variable, firm age, also has a significant relationship with return on equity. The study concludes that debt-equity financing and firm age have a positive and significant relationship with corporate profitability.

Date: 2024
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