Short Term Debt and The Financial Performance of Quoted Manufacturing Company in Nigeria

Dr. Isiaka Tunji Adelabu and Mrs Tawakalitu Yetunde Adelabu
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Dr. Isiaka Tunji Adelabu: Department of Accountancy, Federal Polytechnic, Ede, Osun State
Mrs Tawakalitu Yetunde Adelabu: Department of Accountancy, Federal Polytechnic, Ede, Osun State

International Journal of Research and Scientific Innovation, 2025, vol. 12, issue 7, 1774-1784

Abstract: This study examined short term debt and financial performance in quoted manufacturing industry in Nigeria. This study used secondary data. The study covered 31 non-financial firms listed on the Nigerian Exchange Group. Five (5) quoted manufacturing firms were purposively selected to ease data capturing and effectiveness of the research work. Data on short term debt, over draft, trade credits and Profit after tax were collected from the audited financial statement of selected listed manufacturing firms from 2014-2023. Descriptive analysis involved the use of mean, median; standard deviation etc. to evaluate the selected variables was adopted. Inferential statistics was adopted on the panel regression model. This involved estimating a dynamic model using the system of fixed effect and Random effect. The fixed effect showed that t-stat and p-value of STD and ROA are -4.700738 and 0.0000 respectively. It means that p-value of t-stat (0.0000) is less than significance level of 0.05. it was decided that STD has significant negative effect on the financial performance of listed manufacturing firms in Nigeria. This study concluded that other sources of finance could be utilized to influence financial performance of quoted manufacturing firms in Nigeria.

Date: 2025
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