CORPORATE SOLVENCY AND FINANCIAL PERFORMANCE OF MANUFACTURING COMPANIES IN NIGERIA

Francis Abolade  AKINTOLA; Tolulope Oluwatoyosi OLURIN; Timothy Adisa  SOETAN; Solomon Olusegun  ADEOYE

doi:10.5281/zenodo.13207329

Authors

Francis Abolade AKINTOLA Department of Finance, Babcock University, Ilishan-Remo, Ogun State, Nigeria https://orcid.org/0000-0003-3594-3837
Tolulope Oluwatoyosi OLURIN Department of Accounting, Babcock University, Ilishan-Remo, Ogun State, Nigeria https://orcid.org/0009-0004-8806-3010
Timothy Adisa SOETAN Department of Business Administration & Marketing, Babcock University, Ilishan-Remo, Ogun State, Nigeria https://orcid.org/0000-0002-4715-8580
Solomon Olusegun ADEOYE Department of Business Administration & Marketing, Babcock University, Ilishan-Remo, Ogun State, Nigeria https://orcid.org/0000-0002-2944-8496

DOI:

https://doi.org/10.5281/zenodo.13207329

Keywords:

Working capital management, Return on asset, Debt/Equity ratio, Current ratio, Operational efficiency

Abstract

The study investigated corporate solvency and financial performance of selected manufacturing companies in Nigeria from 2012 to 2021. Secondary data obtained from selected manufacturing companies were used for the study. Data obtained were analyzed with multiple regression techniques. Empirical results obtained showed that working capital management and debt/equity have a positive influence on financial performance measured by return on asset (ROA). The study therefore recommends that liquidity management should be improved upon to enhance the financial performance of manufacturing companies in Nigeria.

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2024-08-03

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AKINTOLA, F. A., OLURIN, T. O., SOETAN, T. A., & ADEOYE, S. O. (2024). CORPORATE SOLVENCY AND FINANCIAL PERFORMANCE OF MANUFACTURING COMPANIES IN NIGERIA. GVU Journal of Management and Social Sciences, 9(1), 38–47. https://doi.org/10.5281/zenodo.13207329

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Vol. 9 No. 1 (2024): GVU Journal of Management and Social Sciences (Formerly SAU Journal of Management and Social Sciences)

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CORPORATE SOLVENCY AND FINANCIAL PERFORMANCE OF MANUFACTURING COMPANIES IN NIGERIA

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