{"id":"https://openalex.org/W2513615396","doi":"https://doi.org/10.22610/jebs.v8i3(j).1289","title":"Capital Structure and Firm Performance in Nigerian-Listed Companies","display_name":"Capital Structure and Firm Performance in Nigerian-Listed Companies","publication_year":2016,"publication_date":"2016-07-03","ids":{"openalex":"https://openalex.org/W2513615396","doi":"https://doi.org/10.22610/jebs.v8i3(j).1289","mag":"2513615396"},"language":"en","primary_location":{"id":"doi:10.22610/jebs.v8i3(j).1289","doi":"https://doi.org/10.22610/jebs.v8i3(j).1289","is_oa":true,"landing_page_url":"https://doi.org/10.22610/jebs.v8i3(j).1289","pdf_url":"https://ojs.amhinternational.com/index.php/jebs/article/download/1289/1246","source":{"id":"https://openalex.org/S2738550039","display_name":"Journal of Economics and Behavioral Studies","issn_l":"2220-6140","issn":["2220-6140"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310320342","host_organization_name":"International Foundation for Research and Development","host_organization_lineage":["https://openalex.org/P4310320342"],"host_organization_lineage_names":["International Foundation for Research and Development"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Economics and Behavioral Studies","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://ojs.amhinternational.com/index.php/jebs/article/download/1289/1246","any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5008322377","display_name":"Matthew Adeolu Abata","orcid":"https://orcid.org/0000-0002-3679-2615","observed_orcids":["https://orcid.org/0000-0002-3679-2615"]},"institutions":[{"id":"https://openalex.org/I95023434","display_name":"University of KwaZulu-Natal","ror":"https://ror.org/04qzfn040","country_code":"ZA","type":"education","lineage":["https://openalex.org/I95023434"]}],"countries":["ZA"],"is_corresponding":false,"raw_author_name":"Matthew Adeolu Abata","raw_affiliation_strings":["University of KwaZulu-Natal, Durban"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of KwaZulu-Natal, Durban","institution_ids":["https://openalex.org/I95023434"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5030175117","display_name":"Stephen Oseko Migiro","orcid":"https://orcid.org/0000-0002-2781-5424","observed_orcids":["https://orcid.org/0000-0002-2781-5424"]},"institutions":[{"id":"https://openalex.org/I95023434","display_name":"University of KwaZulu-Natal","ror":"https://ror.org/04qzfn040","country_code":"ZA","type":"education","lineage":["https://openalex.org/I95023434"]}],"countries":["ZA"],"is_corresponding":false,"raw_author_name":"Stephen Oseko Migiro","raw_affiliation_strings":["University of KwaZulu-Natal, Durban"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of KwaZulu-Natal, Durban","institution_ids":["https://openalex.org/I95023434"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I95023434"],"apc_list":null,"apc_paid":null,"fwci":7.3152,"has_fulltext":true,"cited_by_count":17,"citation_normalized_percentile":{"value":0.967774,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":97},"biblio":{"volume":"8","issue":"3(J)","first_page":"54","last_page":"74"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9585000276565552,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.9585000276565552,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.035100001841783524,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12544","display_name":"Working Capital and Financial Performance","score":0.0017000000225380063,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/capital-structure","display_name":"capital structure","score":1.0},{"id":"https://openalex.org/keywords/firm-performance","display_name":"firm performance","score":0.9959999918937683},{"id":"https://openalex.org/keywords/financial-leverage","display_name":"leverage","score":0.9620000123977661},{"id":"https://openalex.org/keywords/debt-equity-mix","display_name":"debt-equity mix","score":0.7570000290870667},{"id":"https://openalex.org/keywords/return-on-assets","display_name":"return on assets","score":0.9710000157356262},{"id":"https://openalex.org/keywords/return-on-equity","display_name":"return on equity","score":1.0},{"id":"https://openalex.org/keywords/nigerian-listed-firms","display_name":"Nigerian listed companies","score":0.703000009059906},{"id":"https://openalex.org/keywords/debt-financing","display_name":"debt financing","score":0.7080000042915344},{"id":"https://openalex.org/keywords/business-survival","display_name":"business survival","score":0.6850000023841858}],"concepts":[{"id":"https://openalex.org/C149933338","wikidata":"https://www.wikidata.org/wiki/Q950816","display_name":"Capital structure","level":3,"score":0.8387550115585327},{"id":"https://openalex.org/C153083717","wikidata":"https://www.wikidata.org/wiki/Q6535263","display_name":"Leverage (statistics)","level":2,"score":0.7184425592422485},{"id":"https://openalex.org/C6422946","wikidata":"https://www.wikidata.org/wiki/Q857354","display_name":"Panel data","level":2,"score":0.6479237079620361},{"id":"https://openalex.org/C135665773","wikidata":"https://www.wikidata.org/wiki/Q2234049","display_name":"Debt ratio","level":3,"score":0.6397466063499451},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.6365029811859131},{"id":"https://openalex.org/C74153512","wikidata":"https://www.wikidata.org/wiki/Q167064","display_name":"Debt-to-equity ratio","level":4,"score":0.6203606724739075},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.5652771592140198},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.5451960563659668},{"id":"https://openalex.org/C39896193","wikidata":"https://www.wikidata.org/wiki/Q380344","display_name":"Descriptive statistics","level":2,"score":0.5266209244728088},{"id":"https://openalex.org/C198531522","wikidata":"https://www.wikidata.org/wiki/Q485146","display_name":"Sample (material)","level":2,"score":0.4683764576911926},{"id":"https://openalex.org/C2908647359","wikidata":"https://www.wikidata.org/wiki/Q2625603","display_name":"Population","level":2,"score":0.43512266874313354},{"id":"https://openalex.org/C73116969","wikidata":"https://www.wikidata.org/wiki/Q16954906","display_name":"Debt-to-capital ratio","level":5,"score":0.4332354962825775},{"id":"https://openalex.org/C155530773","wikidata":"https://www.wikidata.org/wiki/Q591174","display_name":"Return on equity","level":3,"score":0.43012702465057373},{"id":"https://openalex.org/C152877465","wikidata":"https://www.wikidata.org/wiki/Q208042","display_name":"Regression analysis","level":2,"score":0.4249945282936096},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.39007213711738586},{"id":"https://openalex.org/C124972522","wikidata":"https://www.wikidata.org/wiki/Q1303176","display_name":"Equity ratio","level":4,"score":0.3713149428367615},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.3518080711364746},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.33890995383262634},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.12769275903701782},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0},{"id":"https://openalex.org/C100363876","wikidata":"https://www.wikidata.org/wiki/Q690661","display_name":"Nonprobability sampling","level":3,"score":0.0},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C149923435","wikidata":"https://www.wikidata.org/wiki/Q37732","display_name":"Demography","level":1,"score":0.0},{"id":"https://openalex.org/C43617362","wikidata":"https://www.wikidata.org/wiki/Q170050","display_name":"Chromatography","level":1,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.22610/jebs.v8i3(j).1289","doi":"https://doi.org/10.22610/jebs.v8i3(j).1289","is_oa":true,"landing_page_url":"https://doi.org/10.22610/jebs.v8i3(j).1289","pdf_url":"https://ojs.amhinternational.com/index.php/jebs/article/download/1289/1246","source":{"id":"https://openalex.org/S2738550039","display_name":"Journal of Economics and Behavioral Studies","issn_l":"2220-6140","issn":["2220-6140"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310320342","host_organization_name":"International Foundation for Research and Development","host_organization_lineage":["https://openalex.org/P4310320342"],"host_organization_lineage_names":["International Foundation for Research and Development"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Economics and Behavioral Studies","raw_type":"journal-article"},{"id":"pmh:oai:RePEc:rnd:arjebs:v:8:y:2016:i:3:p:54-74","doi":null,"is_oa":false,"landing_page_url":"https://ojs.amhinternational.com/index.php/jebs/article/view/1289/1246","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"doi:10.22610/jebs.v8i3(j).1289","doi":"https://doi.org/10.22610/jebs.v8i3(j).1289","is_oa":true,"landing_page_url":"https://doi.org/10.22610/jebs.v8i3(j).1289","pdf_url":"https://ojs.amhinternational.com/index.php/jebs/article/download/1289/1246","source":{"id":"https://openalex.org/S2738550039","display_name":"Journal of Economics and Behavioral Studies","issn_l":"2220-6140","issn":["2220-6140"],"is_oa":true,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/P4310320342","host_organization_name":"International Foundation for Research and Development","host_organization_lineage":["https://openalex.org/P4310320342"],"host_organization_lineage_names":["International Foundation for Research and Development"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Journal of Economics and Behavioral Studies","raw_type":"journal-article"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[{"display_name":"Partnerships for the goals","score":0.4399999976158142,"id":"https://metadata.un.org/sdg/17"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2513615396.pdf","grobid_xml":"https://content.openalex.org/works/W2513615396.grobid-xml"},"referenced_works_count":49,"referenced_works":["https://openalex.org/W157807958","https://openalex.org/W1526206440","https://openalex.org/W1546993880","https://openalex.org/W1554505491","https://openalex.org/W1561233172","https://openalex.org/W1572327032","https://openalex.org/W1982680954","https://openalex.org/W1996443335","https://openalex.org/W2007946665","https://openalex.org/W2012801849","https://openalex.org/W2036281662","https://openalex.org/W2043511468","https://openalex.org/W2055749379","https://openalex.org/W2074928461","https://openalex.org/W2081113003","https://openalex.org/W2086995991","https://openalex.org/W2104725523","https://openalex.org/W2115871647","https://openalex.org/W2117511578","https://openalex.org/W2122838389","https://openalex.org/W2124597406","https://openalex.org/W2131733003","https://openalex.org/W2165242877","https://openalex.org/W2166975367","https://openalex.org/W2168826051","https://openalex.org/W2170790204","https://openalex.org/W2172709528","https://openalex.org/W2182059100","https://openalex.org/W2289838817","https://openalex.org/W2345159026","https://openalex.org/W2526322108","https://openalex.org/W2547454379","https://openalex.org/W2737877865","https://openalex.org/W2752617332","https://openalex.org/W2980911153","https://openalex.org/W2994605249","https://openalex.org/W3121479022","https://openalex.org/W3122398884","https://openalex.org/W3122420571","https://openalex.org/W3123142049","https://openalex.org/W3123934933","https://openalex.org/W3124000936","https://openalex.org/W3124117485","https://openalex.org/W3124161534","https://openalex.org/W3124295814","https://openalex.org/W3124450204","https://openalex.org/W3125649736","https://openalex.org/W3125934511","https://openalex.org/W3141830910"],"related_works":["https://openalex.org/W2179168854","https://openalex.org/W3108235817","https://openalex.org/W2972380385","https://openalex.org/W6958760138","https://openalex.org/W2268792979","https://openalex.org/W3149901502","https://openalex.org/W2994292903","https://openalex.org/W2804254797","https://openalex.org/W2394600731","https://openalex.org/W7215389942"],"abstract_inverted_index":{"a":[0,44,93],"number":[1],"of":[2,39,43,46],"business":[3],"failures":[4],"have":[5],"not":[6],"been":[7],"reported":[8],"in":[9,32],"Nigeria":[10],"arising":[11],"from":[12,50],"inability":[13],"to":[14,52,73,117,133],"payback":[15],"nor":[16],"does":[17],"service":[18],"debts":[19],".This":[20],"paper":[21],"empirically":[22],"investigate":[23],"the":[24,33,75,103],"relationship":[25,96],"between":[26,84,97],"capital":[27],"structure":[28],"and":[29,62,67,87,92,100,121,137],"firm":[30],"performance":[31,136],"Nigerian":[34],"listed":[35],"firms.":[36],"A":[37],"sample":[38],"30listed":[40],"firms":[41,111],"out":[42],"population":[45],"173":[47],"were":[48,60],"examined":[49],"2005":[51],"2014":[53],"using":[54,64],"multiple":[55],"regression":[56],"tools.":[57],"Two":[58],"hypotheses":[59],"formulated":[61],"tested":[63],"descriptive":[65],"statistics":[66],"an":[68],"econometric":[69],"panel":[70],"data":[71],"technique":[72],"analyze":[74],"gathered":[76],"data.":[77],"An":[78],"insignificantly":[79],"negative":[80,95],"correlation":[81],"was":[82],"found":[83],"financial":[85],"leverage":[86],"ROA":[88],"on":[89,102],"one":[90],"hand":[91],"significantly":[94],"debt/equity":[98,123],"mix":[99,122],"ROE":[101],"other":[104],"hand.":[105],"It":[106],"is":[107,131],"therefore":[108],"recommended":[109],"that":[110,127],"should":[112],"use":[113],"long":[114],"term":[115],"liabilities":[116],"finance":[118],"firm\u2019s":[119],"activities":[120],"appropriately":[124],"by":[125],"ensuring":[126],"debt":[128],"financing":[129],"ratio":[130],"lower":[132],"enhance":[134],"corporate":[135],"survival.":[138]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2024,"cited_by_count":2},{"year":2023,"cited_by_count":2},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":2},{"year":2020,"cited_by_count":3},{"year":2019,"cited_by_count":2},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":2}],"updated_date":"2026-10-18T09:31:52.927876","created_date":"2016-09-16T00:00:00"}
