FIRM PERFORMANCE

This study examines the impact of capital structure on firm performance among oil and gas firms listed on the Nigerian Exchange Group (NGX) from 2014 to 2023. Given the capital-intensive nature of the industry, understanding the relationship between debt and equity financing is crucial for optimizing financial performance. The study employ sanex-post facto research design, relying on secondary data sourced from annual financial
reports, the NGX database, the Central Bank of Nigeria (CBN), and the National Bureau of Statistics (NBS).
A panel data regression model is used to assess the effect of key capital structure variables—debt-to-equity ratio, debt ratio, equity ratio, and long-term debt to assets ratio—on firm performance, measured through Return on Assets (ROA) and market
value. The study applies descriptive statistics, correlation analysis, and panel regression techniques, using the Hausman test to determine the appropriate model (Fixed Effects or Random Effects). Diagnostic tests are also conducted to ensure the validity and reliability of the regression results.
Findings from the study are expected to provide empirical evidence on how leverage influences financial performance, offering insights for corporate managers, investors, and policymakers in optimizing capital structure decisions. The study contributes to existing literature by incorporating Environmental, Social, and Governance (ESG) considerations, which have gained prominence in corporate financing decisions.

This study examined the impact of Human Resource Accounting (HRA) on firm performance (FP) among selected non-financial firms listed on the Nigerian Exchange Group (NGX). The study focused on three key components of HRA training costs, recruitment and selection costs, and staff welfare and development investments to determine the extent to which human resource–related expenditures contribute to organizational performance. Secondary data covering 150 firm-year observations were
extracted from annual reports and financial statements and analyzed using the Ordinary Least Squares (OLS) regression technique. The findings revealed that training costs have a positive and statistically significant effect on firm performance, indicating that investment in employee skills and capacity development enhances organizational outcomes. Recruitment and selection costs, although positively related to firm performance, exhibited an insignificant effect, suggesting that the benefits of recruitment expenditures may not immediately translate into improved performance. Staff welfare and development investments were found to have a positive and significant relationship with firm performance, demonstrating that employee-focused welfare initiatives and developmental incentives contribute meaningfully to enhanced productivity and organizational growth.

The research study examined the influence of corporate governance mechanisms on the firm performance in Nigeria. Five(5) research question were raised for the study and all were formulated into hypothesis and four(4) were tested. Consequently,related literature on the conceptual review, theoretical framework and empirical review of corporate governance mechanisms and firm performance in respect to board size, board independence, ownership structure, CEO Duality were also discussed adequately in chapter two(2). The ex-post facto research design was used for the study. The instrument used for the collection of data was annually published audited financial statements of banks. Secondary data were obtained from the annual reports gotten from the bank website covering the period 2016-2022. The data collected for the research questions were analyzed using descriptive statistics while the hypotheses were analyzed using Stationery (Unit root) test and Panel Data analysis and was tested at 0.05 level of significance. The findings of the study revealed that board size and board independence has a significantly positive relationship on firm performance in Nigeria. The study also found that ownership concentration significantly and negatively affects firm performance in Nigeria.Lastly, the study found a statistically insignificant and positive relationship between CEO duality and firm performance in Nigeria. The study recommended that they should Strengthen Board Independence: Nigerian deposit money banks should continue to prioritize board independence,they should appoint independent directors who are not influenced by the interests of major shareholders or management. This practice can help ensure that corporate governance structures remain robust and that decisions are made in the best interests of the company and its stakeholders.

This study investigated the effect of audit client attributes on firm performance using panel data of twelve banks for the period 2015 – 2022. The variables considered were firm performance proxied by return on assets, firm size, firm age, firm leverage, and board size. The study carried out a histogram normality test, Breusch-Pagan-Godfrey test of heteroskedasticity, Ramsey RESET model specification test, Serial correlation test, correlation analysis and regression analysis. The F-statistics indicated that all the explanatory variables taken together are statistically significant. The regression result revealed that board size and firm age have a negative and insignificant influence on firm performance. The firm leverage maintains a positive and significant relationship with firm performance firms considered. The study recommended that firm managers should focus on optimizing firm leverage to improve their firm performance and the firm should ensure that the board size is well regulated.