Effect of Mix Capital on Financial Performance of Quoted Manufacturing Companies in Nigeria

This study examines mix capital and financial performance of quoted manufacturing companies in Nigeria. The ex post facto research design was employed in the study. The study population comprised of thirty-eight (38) manufacturing companies in Nigeria as listed on the Nigerian Exchange Group (NGX) over the period 2012 to 2023. Census sampling method was employed to determine sample for the study after sanitizing the population of the study. Data collection for this study was source through the published financial reports of quoted manufacturing companies from 2012-2023. The investigation utilizes descriptive statistics and Panel Ordinary Least Square Regression technique for data analysis. The study revealed the existence of a positive and significant effect of equity capital on Return on equity by 0.0073 (p = 0.0042) and on Tobin Q by 0.0029 (p = 0.0002). The study concluded that statistically, there is positive and significant effect of capital structure on financial performance of listed manufacturing companies in Nigeria. The study recommended that management of manufacturing companies should endeavour to explore opportunities to attract more equity investors through robust shareholder engagement and transparent financial reporting, which can ultimately improve profitability and long-term growth.