Relationship Between Asset Structure and Financial Performance of Listed Industrial Goods Companies in Nigeria

A. N. P. Onoja; M. T. Soomiyol; J. M. Korna; P.I Zayol

doi:10.56201/ijefm.v11.no3.2026.pg39.49

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Relationship Between Asset Structure and Financial Performance of Listed Industrial Goods Companies in Nigeria

A. N. P. Onoja, M. T. Soomiyol, J. M. Korna, P.I Zayol

Abstract

The study examined the relationship between asset structure and financial performance of listed industrial goods companies in Nigeria. The study adopted the ex post facto research design based on a secondary data of 9 listed industrial goods companies that were judgmentally selected out of a population of 13 companies. Data for the study span across 11 years from 2013 to 2023. The data are analyzed using a panel regression. The study found that, noncurrent assets, current assets, and tangible assets have significant relationships with economic value added while intangible assets have no significant relationship with economic value added of listed industrial goods companies in Nigeria. The study recommends that, there is need for industrial goods companies to focus on effective utilization of current assets to enhance economic value added . Lastly, managers of industrial goods companies should focus on enhancing the strategic utilization of intangible assets, such as intellectual property and brand value, to improve long-term competitiveness. While the study found a positive but insignificant relationship with economic value added , continued investment by shareholders and effective management of intangibles may yield significant returns over time.

Keywords

Asset StructureFinancial PerformanceEconomic Value AddedIndustrial Goods CompaniesPanel RegressionNigeria

References

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Relationship Between Asset Structure and Financial Performance of Listed Industrial Goods Companies in Nigeria

Abstract

Keywords

References

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