Determinants of firm Profitability in Nigeria: Evidence from dynamic panel models
This study examines the determinants of firm profitability for 114 firms listed on the Nigerian Stock Exchange (NSE) from 1998 to 2012, using the system Generalized Method of Moments (GMM). The results show that lagged profitability exerts significant positive effect on contemporaneous firm profitab...
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| Veröffentlicht in: | Spoudai (Piraeus.) 2018, Vol.68 (1), p.43-58 |
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| creator | Odusanya, Ibrahim Abidemi Yinusa, Olumuyiwa Ganiyu Ilo, Bamidele M |
| description | This study examines the determinants of firm profitability for 114 firms listed on the Nigerian Stock Exchange (NSE) from 1998 to 2012, using the system Generalized Method of Moments (GMM). The results show that lagged profitability exerts significant positive effect on contemporaneous firm profitability. However, short-term leverage, inflation rate, interest rate and financial risk have significant negative effects on firm profitability. The study therefore suggests, among other recommendations, that the cost of borrowing to the real sector of the economy should be reduced in order to minimize costs of production, enhance productivity and profitability while necessary macroeconomic policies should be put in place by the government to curb inflationary pressure in the economy. |
| format | Article |
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The results show that lagged profitability exerts significant positive effect on contemporaneous firm profitability. However, short-term leverage, inflation rate, interest rate and financial risk have significant negative effects on firm profitability. The study therefore suggests, among other recommendations, that the cost of borrowing to the real sector of the economy should be reduced in order to minimize costs of production, enhance productivity and profitability while necessary macroeconomic policies should be put in place by the government to curb inflationary pressure in the economy.</description><identifier>ISSN: 2241-424X</identifier><identifier>ISSN: 1105-8919</identifier><identifier>EISSN: 2241-424X</identifier><language>eng</language><publisher>Piraeus: University of Piraeus</publisher><subject>Economic models ; Estimating techniques ; Firm ; Generalized Method of Moments ; Inflation ; Leverage ; Nigeria ; Non-financial ; Productivity ; Profitability</subject><ispartof>Spoudai (Piraeus.), 2018, Vol.68 (1), p.43-58</ispartof><rights>Copyright University of Piraeus 2018</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>314,776,780,4010</link.rule.ids></links><search><creatorcontrib>Odusanya, Ibrahim Abidemi</creatorcontrib><creatorcontrib>Yinusa, Olumuyiwa Ganiyu</creatorcontrib><creatorcontrib>Ilo, Bamidele M</creatorcontrib><title>Determinants of firm Profitability in Nigeria: Evidence from dynamic panel models</title><title>Spoudai (Piraeus.)</title><description>This study examines the determinants of firm profitability for 114 firms listed on the Nigerian Stock Exchange (NSE) from 1998 to 2012, using the system Generalized Method of Moments (GMM). 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The study therefore suggests, among other recommendations, that the cost of borrowing to the real sector of the economy should be reduced in order to minimize costs of production, enhance productivity and profitability while necessary macroeconomic policies should be put in place by the government to curb inflationary pressure in the economy.</description><subject>Economic models</subject><subject>Estimating techniques</subject><subject>Firm</subject><subject>Generalized Method of Moments</subject><subject>Inflation</subject><subject>Leverage</subject><subject>Nigeria</subject><subject>Non-financial</subject><subject>Productivity</subject><subject>Profitability</subject><issn>2241-424X</issn><issn>1105-8919</issn><issn>2241-424X</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2018</creationdate><recordtype>article</recordtype><recordid>eNpNjUtLAzEYRYMoWGp_ghBwPZDnZMad1PqA4gMU3A15fJGUmaQmqdB_b6UuXJ0L93DvCZoxJmgjmPg4_ZfP0aKUDSGEUUEobWfo9RYq5ClEHWvByWMf8oRfcvKhahPGUPc4RPwUPiEHfY1X38FBtIB9ThN2-6inYPFWRxjxlByM5QKdeT0WWPxxjt7vVm_Lh2b9fP-4vFk3QKlUjTBE256b3nKqOwWkBa6VNqKzBoAYUFIxa1vOuDSd8M5LTrkVunWWOA18jq6Ou9ucvnZQ6rBJuxwPlwOjVLRK9pIdrMujBTbFUIZflJryQA8tJfwH7X5XxQ</recordid><startdate>2018</startdate><enddate>2018</enddate><creator>Odusanya, Ibrahim Abidemi</creator><creator>Yinusa, Olumuyiwa Ganiyu</creator><creator>Ilo, Bamidele M</creator><general>University of Piraeus</general><scope>OT2</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope></search><sort><creationdate>2018</creationdate><title>Determinants of firm Profitability in Nigeria: Evidence from dynamic panel models</title><author>Odusanya, Ibrahim Abidemi ; Yinusa, Olumuyiwa Ganiyu ; Ilo, Bamidele M</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-e1157-4b0ac93b9c31a87e06e3a7ab48cbee0be7572cc63235b84fdf5313c4a6dc0dae3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2018</creationdate><topic>Economic models</topic><topic>Estimating techniques</topic><topic>Firm</topic><topic>Generalized Method of Moments</topic><topic>Inflation</topic><topic>Leverage</topic><topic>Nigeria</topic><topic>Non-financial</topic><topic>Productivity</topic><topic>Profitability</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Odusanya, Ibrahim Abidemi</creatorcontrib><creatorcontrib>Yinusa, Olumuyiwa Ganiyu</creatorcontrib><creatorcontrib>Ilo, Bamidele M</creatorcontrib><collection>EconStor</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Spoudai (Piraeus.)</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Odusanya, Ibrahim Abidemi</au><au>Yinusa, Olumuyiwa Ganiyu</au><au>Ilo, Bamidele M</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Determinants of firm Profitability in Nigeria: Evidence from dynamic panel models</atitle><jtitle>Spoudai (Piraeus.)</jtitle><date>2018</date><risdate>2018</risdate><volume>68</volume><issue>1</issue><spage>43</spage><epage>58</epage><pages>43-58</pages><issn>2241-424X</issn><issn>1105-8919</issn><eissn>2241-424X</eissn><abstract>This study examines the determinants of firm profitability for 114 firms listed on the Nigerian Stock Exchange (NSE) from 1998 to 2012, using the system Generalized Method of Moments (GMM). The results show that lagged profitability exerts significant positive effect on contemporaneous firm profitability. However, short-term leverage, inflation rate, interest rate and financial risk have significant negative effects on firm profitability. The study therefore suggests, among other recommendations, that the cost of borrowing to the real sector of the economy should be reduced in order to minimize costs of production, enhance productivity and profitability while necessary macroeconomic policies should be put in place by the government to curb inflationary pressure in the economy.</abstract><cop>Piraeus</cop><pub>University of Piraeus</pub><tpages>16</tpages><oa>free_for_read</oa></addata></record> |
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| language | eng |
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| source | DOAJ Directory of Open Access Journals; Elektronische Zeitschriftenbibliothek - Frei zugängliche E-Journals |
| subjects | Economic models Estimating techniques Firm Generalized Method of Moments Inflation Leverage Nigeria Non-financial Productivity Profitability |
| title | Determinants of firm Profitability in Nigeria: Evidence from dynamic panel models |
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