CAPITAL STRUCTURE AND THE PERFORMANCE OF MANUFACTURING FIRMS IN NIGERIA: A CASE STUDY OF NIGERIA BREWERY

CAPITAL STRUCTURE AND THE PERFORMANCE OF MANUFACTURING FIRMS IN NIGERIA: A CASE STUDY OF NIGERIA BREWERY

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CAPITAL STRUCTURE AND THE PERFORMANCE OF MANUFACTURING FIRMS IN NIGERIA: A CASE STUDY OF NIGERIA BREWERY



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Description

The objective of the study was to examine capital structure and the performance of manufacturing firms in Nigeria. This is imperative because the choice of an appropriate financing mix constitutes a critical decision for the survival and continuous growth of any business organization. In an attempt to achieve the broad objective of the study, two hypotheses was raised in the study for validation using secondary data covering the period of 2010 and 2014 collected from Nigeria Brewery Annual Report and Statement of Financial Position, 2010-2014. The multiple regression method was used in the analysis and the result was facilitated using the statistical package for social and sciences (SPSS 20.0). The result of the analysis at 5% level of significance shows that capital structure has a significant positive impact on the performance of Nigeria Brewery. It was also established that the assets of Nigeria Brewery has a significant positive impact on the performance. Among others, the study recommends that, firms should ensure persistent and sustainable growth in capital structure. Managers should be careful while using debt as a source of finance since a negative relationship exist between the capital structure and performance variables used in this work.
TABLE OF CONTENTS
CHAPTER ONE – INTRODUCTION
1.1 Background of the Study
1.2 Statement of the Problem
1.3 Objectives of the Study
1.4 Research Questions
1.5 Research Hypothesis
1.6 Significance of the Study
1.7 Scope of the Study
1.8 Plan of the Study
CHAPTER TWO – LITERATURE REVIEW
2.0 Introduction
2.1 Conceptual Review
2.1.1 The Concept of Capital Structure
2.1.2 Different Types of Debt-Equity Ratio
2.13 Factors Influencing the Choice of Capital Structure
2.1.4 Determinants of Capital Structure
2.1.5 Concept of Firm Performance
2.1.6 Capital Structure and Firm Performance
2.1.7 Measures of Firm Performance
2.2 Theoretical Review
2.2.1 Modigliani and Miller Theorem
2.2.2 Trade-Off Theory
2.2.3 Pecking Order Theory
2.3 Empirical Review
CHAPTER THREE – RESEARCH METHODOLOGY
3.1 Introduction
3.2 Research Design
3.3 Sources and Method of Data Collection
3.4 Population
3.5 Sample and Sampling Technique
3.6 Technique of Data Analysis
CHAPTER FOUR: PRESENTATION AND ANALYSIS OF RESULT
4.0 Introduction
4.1 Data Presentation
4.2 Hypotheses Testing
4.3 Summary
CHAPTER FIVE: DISCUSSION, CONCLUSION AND RECOMMENDATIONS
5.1 Discussion of Findings
5.2 Conclusion-
5.3 Recommendations
REFERENCES

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