EFFECT OF FIRM CHARACTERISTICS ON CAPITAL STRUCTURE OF DEPOSIT MONEY BANKS LISTED ON NIGERIAN STOCK EXCHANGE
Keywords:
Firm Size, , Asset Tangibility, Debt-to-Capital Ratio, Debt-to-Asset Ratio.Abstract
The main aim of this study is to find out the effect of firm characteristics on capital structure of Deposit Money Banks listed on Nigerian Stock Exchange (NSE) as at December, 2017. Specifically, it investigated the extent to which firm size and asset tangibility affects debt-to-capital ratio and debt-to-asset ratio of Deposit Money Banks. In pursuit of the objective of this study, hypotheses were formulated and tested using secondary data obtained from the firms’ annual report and fact book. The ex-post facto design was adopted in carrying out this research. Data were analyzed using Pearson correlation analysis and multiple regression analysis with aid of E-view 9.0 which was to ascertain the direction and strength of the relationship between the variables of the study. The findings of this study confirm that the hypotheses tested were significant at 5% level of significance. Therefore, the researcher recommends that management of Deposit Money Banks need to embrace innovation as a way of increasing the efficiency of the assets and they should strive to attain a sound asset base in order to meet, on a timely basis, their responsibilities towards the customers and by extension, improve on their capital base; especially in the long term.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2019 Journal of Global Accounting
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.
Articles submitted to JOGA should not have been published or are currently under review by another Journal. Kindly see the guide for the preparation of the manuscript for details. Successful submission of articles by author(s) for publication clearly implies that the work is not an infringement of any existing copyright warranty as JOGA reserves the right to be indemnified by the author(s) where any breach of such warranty is proven. For ease of dissemination and to ensure proper policing of use, papers and contributions become the legal copyright of JOGA once published unless otherwise agreed.
Permission clearance should be obtained by the author(s) where applicable for the use of any content of interest not originally created by them. This must be done before the submission of the article to JOGA. Failure to do so may lead to a lengthy delay in publication, as JOGA is unable to publish any article which has permissions pending. Thus, the rights JOGA requires are:
- Non-exclusive right to reproduce the material in the article or book chapters.
- Print and electronic rights.
- To use the material for the life of the work (for instance, there should be no time restrictions on the re-use of material).
Where tables, figures or excerpts of more than 250 words are reproduced from another source, it is expected that:
- Author(s) should obtain the necessary written permission in advance from any third-party owner of the copyright for the use in print and electronic formats of any of their text, illustrations, graphics, or other material in their manuscript. Permission must also be cleared for any minor adaptations of any work not originally created by the author(s). The author (s) should not assume that any content freely available on the web is free to use.
- Where the author adapts a significant number of any material, the author(s) must inform the copyright holder of the original work.
- Author obtains any proof of consent statements
- The author must acknowledge figure(s) and content adopted or adapted in work utilizing source(s) and further capture them in the list of references.
