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Does leverage affect the financial performance of Nigerian firms?

Author

Listed:
  • Afolabi Adegboyega

    (Department of Accounting, Crescent University, Abeokuta, Nigeria)

  • Olabisi Jayeola

    (Department of Accounting, Federal University of Agriculture, Abeokuta, Nigeria)

  • Kajola Sunday Olugboyega

    (Department of Accounting, Federal University of Agriculture, Abeokuta, Nigeria)

  • Asaolu Taiwo Olufemi

    (Department of Management and Accounting, Obafemi Awolowo University, Ile-Ife, Nigeria)

Abstract

Aim/purpose – This study examines the relationship between leverage and financial performance of Nigerian firms between the years 2007 and 2016.

Suggested Citation

  • Afolabi Adegboyega & Olabisi Jayeola & Kajola Sunday Olugboyega & Asaolu Taiwo Olufemi, 2019. "Does leverage affect the financial performance of Nigerian firms?," Journal of Economics and Management, Sciendo, vol. 37(3), pages 5-22, September.
    • Handle: RePEc:vrs:jecman:v:37:y:2019:i:3:p:5-22:n:2
    DOI: 10.22367/jem.2019.37.01
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    References listed on IDEAS

    as
    1. Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
    2. Myers, Stewart C. & Majluf, Nicholas S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June.
    3. Rafiu Oyesola Salawu & Akinlolu Ayodeji Agboola, 2008. "The Determinants Of Capital Structure Of Large Non-Financial Listed Firms In Nigeria," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 2(2), pages 75-84.
    4. Graham C. Hall & Patrick J. Hutchinson & Nicos Michaelas, 2004. "Determinants of the Capital Structures of European SMEs," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 31(5‐6), pages 711-728, June.
    5. Flannery, Mark J. & Rangan, Kasturi P., 2006. "Partial adjustment toward target capital structures," Journal of Financial Economics, Elsevier, vol. 79(3), pages 469-506, March.
    6. Graham C. Hall & Patrick J. Hutchinson & Nicos Michaelas, 2004. "Determinants of the Capital Structures of European SMEs," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 31(5-6), pages 711-728.
    7. Olayinka Akinlo & Taiwo Asaolu, 2012. "Profitability And Leverage: Evidence From Nigerian Firms," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 6(1), pages 17-25.
    8. Songul KAKILLI ACARAVCI, 2015. "The Determinants of Capital Structure: Evidence from the Turkish Manufacturing Sector," International Journal of Economics and Financial Issues, Econjournals, vol. 5(1), pages 158-171.
    9. Myers, Stewart C., 1984. "Capital structure puzzle," Working papers 1548-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    10. Myers, Stewart C, 1984. "The Capital Structure Puzzle," Journal of Finance, American Finance Association, vol. 39(3), pages 575-592, July.
    11. Stewart C. Myers, 1984. "Capital Structure Puzzle," NBER Working Papers 1393, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    capital structure; leverage; Nigeria; performance;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M19 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Other

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