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The Role of Ownership Structure in Moderating the Effects of Corporate Financial Structure and Macroeconomic Condition on Financial Performance in Nigeria

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Abstract

Review of empirical studies from both developed and developing countries shows that the findings on the effect of corporate financial structure on financial performance continue to yield conflicting and inconsistent findings. While some findings reveal positive and significant effects, many studies show negative and significant findings. At the same time, there are some studies that show insignificant effects and as such the debate continue to call for more empirical investigation. The objective of this study is to investigate how employing ownership structure could moderate the effect of corporate financial structure and macroeconomic condition on a firm’s long-term performance using return on assets (ROA) and Tobin’s Q as measures of corporate financial performance. The participating firms of this study are Deposit Money Banks (DMBs) that are actively listed in Nigerian Stock Exchange (NSE) during the 8-year period (2010–2017). The paper will employ an empirical quantitative method of panel data regression analysis.

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Acknowledgements

I would especially like to thank the Association of Commonwealth Universities (ACU) for providing me with the Early Career Academic Grant award to attend the Asia-Pacific Conference on Economics and Finance (APEF 2017) in Singapore. Similarly, the author would like to acknowledge the degree-oriented research grant he received under the Directorate of Research, Innovation and Partnership (DRIP), Bayero University Kano Nigeria at the initial stage of the work.

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  1. Department of Business Administration and Entrepreneurship, Bayero University Kano, Kano, Nigeria

    Musa Abdullahi Bayero

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  1. Conference, East Asia Research, Singapore, Singapore

    Lee-Ming Tan

  2. Faculty of Economics and Business, Universiti Malaysia Sarawak, Kuching, Malaysia

    Evan Lau Poh Hock

  3. Centre for Policy Research and International Studies, Universiti Sains Malaysia, Penang, Malaysia

    Chor Foon Tang

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Bayero, M.A. (2018). The Role of Ownership Structure in Moderating the Effects of Corporate Financial Structure and Macroeconomic Condition on Financial Performance in Nigeria. In: Tan, LM., Lau Poh Hock, E., Tang, C. (eds) Finance & Economics Readings. Springer, Singapore. https://doi.org/10.1007/978-981-10-8147-7_10

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