Browsing by Author "Adigbole, E. A., C. O, O. A. & A.E. Olaoye, Fakiyesi, & Dikki"

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    Impact of Changes in Ownership Structure on Performance of Quoted Manufacturing Firms in Nigeria.
    (Faculty of Management Sciences, Usman Danfodiyo University, Sokoto, Nigeria., 2019) Adigbole, E. A., C. O, O. A. & A.E. Olaoye, Fakiyesi, & Dikki
    This study examined the impact of ownership structural changes on performance of quoted manufacturing firms in Nigeria. Specifically, the study analyzed the impact of changes in ownership concentration, change in equity capital and change in debt capital on performance measured in terms of return on asset and return on capital employed. The study sampled five quoted manufacturing firms randomly over a period of five (5) years (2012-2016). Data collated were analyzed using correlation analysis, pooled OLS estimation, fixed effect estimation and random effect estimation. The results of the study revealed that ownership concentration exerts insignificant negative impact on return on asset and return on capital employed, with 0.015686 unit decline in return on asset for every percentage change in the ownership concentration, and decline of 0.2225643 in return on capital employed, change in equity capital by a million will increase return on asset by 5.67e-06, and return on capital employed by .0004006, change in debt capital has the capacity to decline return on asset by -3.25e-08, as against its positive influence of 8.23e-06 on return on capital employed. It can be concluded that even though structural changes enhance performance, changes in ownership concentration and debt capital has the capacity to impede improved performance of manufacturing firms. Hence, it is suggested that manufacturing firms in Nigeria should be strategic in their actions when it comes to structural changes in terms of changes in ownership concentration and debt capital so as not to erode their prospect of improving their performance. Keywords: Structural Changes, Performance, Quoted, Manufacturing Firms, Nigeria