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Financial Capital, Manufactured Capital, and Financial Performance: Evidence from Listed Industrial Goods Firms in Nigeria

Author

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  • Okeke, Clement Ejiofor

Abstract

Studies on integrated reporting and how it helps firms to resolve different stakeholders’ concerns about corporate disclosures, transparency and accountability are increasingly gaining momentum. Such studies have linked integrated reporting to different outcomes in the financial performances of the firms that have keyed to the reporting system. This study examined the effect of Integrated Reporting (IR) (financial and Manufactured capital) on Financial Performance of Listed Industrial Goods Firms in Nigeria. The study used an ex post facto research approach and secondary data were retrieved from the annual financial reports of selected industrial goods firms in Nigeria for eleven years from 2013-2023.Financial Reporting is the dependent variable proxied by Return on Equity (ROE). IR is the independent variable proxied by Financial Capital and Manufactured Capital. EVIEWS 12 was used to carry out the regression analysis of the direct effect of relevant variables. The study found that Integrated Reporting proxied by financial capital and manufactured capital does not have any significant relationship with the financial performance of firms listed under the industrial goods sector in Nigeria. The study recommends that firms in the industrial goods sector should make concerted efforts to moderate the ratio of their non-current assets to the total assets since the ratio has a negative impact on their performance.

Suggested Citation

  • Okeke, Clement Ejiofor, 2024. "Financial Capital, Manufactured Capital, and Financial Performance: Evidence from Listed Industrial Goods Firms in Nigeria," MPRA Paper 123032, University Library of Munich, Germany, revised 10 Oct 2024.
    • Handle: RePEc:pra:mprapa:123032
    as

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    References listed on IDEAS

    as
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    4. Evans Agala Mutende & M. Mwangi & J.M. Njihia & D.E. Ochieng, 2017. "The moderating role of firm characteristics on the relationship between free cash flows and financial performance of firms listed at the Nairobi securities exchange," Journal of Finance and Investment Analysis, SCIENPRESS Ltd, vol. 6(4), pages 1-3.
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    More about this item

    Keywords

    Integrated Reporting; Financial Capital; Manufactured Capital; Financial Performance;
    All these keywords.

    JEL classification:

    • E0 - Macroeconomics and Monetary Economics - - General
    • L0 - Industrial Organization - - General
    • L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior
    • L6 - Industrial Organization - - Industry Studies: Manufacturing
    • M0 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - General

    NEP fields

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