EFFECTS OF CORPORATE ATTRIBUTES ON FINANCIAL PERFORMANCE OF LISTED MANUFACTURING FIRMS IN NIGERIA

Abstract

Thisstudyinvestigatedthee ectofÿrmattributesonÿnancialperformancewithafocuson listed manufacturing ÿrms in Nigeria. The independent variables is ÿrm size while the dependent variable is the ÿnancial performance proxied by return on assets (ROA). The study adoptedtheex-postfactoresearchdesign. Dataweresourcedfrom41listedmanufacturing ÿrms over a ÿve years period (2018 to 2022) using the annual report of the sampled ÿrms. A null hypotheses formulated for the study was tested using simple regression technique of data analysis. The study was examined using multiple regression technique of data analysis and found that the independent variables of operating expenses, leverage and liquidity have negative and signiÿcant e ect on net proÿt margin of listed manufacturing ÿrms in Nigeria with the exception of ÿrm age which had negative and insigniÿcant e ect on net proÿt margin. Thestudyalsoconcludedthatonlyÿrmsizehadapositiveandinsigniÿcante ectonnetproÿt margin. The study recommended inter alia that listed manufacturing ÿrms in Nigeria should be using equity ÿnancing than loan ÿnancing because leverage reduces their bottom line. The study also recommended that since a ÿrm's proÿtability is limited by its high degree of liquidity, manufacturing ÿrms should lower their current asset levels relative to current liabilities.