Structural Attributes and Financial Performance Ratio of Financial Companies Listed on the Nigerian Exchange Group

Aliagu, Samuel Chukwuka (), Atu, Sandra Esse (), Atu, Liberty Etinosa () and Atu, Omimi-Ejoor Osaretin Kingsley ()
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Aliagu, Samuel Chukwuka: Director of Procurement, Postal: Igbinedion University, Okada,, Nigeria,, https://www.afarng.org/jfafi/
Atu, Sandra Esse: Igbinedion University, Okada, Postal: Nigeria,, https://www.afarng.org/jfafi/
Atu, Liberty Etinosa: Igbinedion University, Okada, Postal: Nigeria, https://www.afarng.org/jfafi/
Atu, Omimi-Ejoor Osaretin Kingsley: Igbinedion University, Okada, Postal: Nigeria,, https://www.afarng.org/jfafi/

Journal of Forensic Accounting & Fraud Investigation (JFAFI), 2022, vol. 7, issue 1, 120-135

Abstract: The study examines structural a􀄴ributes of firms and financial performance ratio of financial companies listed on the Nigerian Exchange Group. The study used longitudinal research design, secondary data was sourced from the audited annual statement of the entire twenty three (23) insurance companies during the period 2015 to 2021. Using the panel estimation technique, the result showed that firm size had insignificant positive impact at 5% level while financial leverage had significant negative impact on financial performance at 10% level. Considering the change in profit by 63.5% as a result of firm specific factors, the study concludes that firm internal factors are drivers of financial performance of firms in the insurance sector. The study made the following recommendations: (i) firm should use the asset t\at their disposal efficiently in order to have enhanced performance; and (ii) firms should have an appropriate capital mix in order to take advantage of profitable investment, however not exposing the firm to excessive credit risk.

Date: 2022
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