International Journal of Accounting Research

Department of Banking and Finance Federal Polytechnic IlaroIlaro, Nigeria

Publications

• Research Article   
  FINANCIAL POLICY AND VALUE OF LISTED FIRMS IN NIGERIA CONSUMER GOODS INDUSTRY
  Author(s): Kamilu Saka*
  
  The use of financing policy towards achieving value optimisation remains elusive among Nigerian firms. This study empirically evaluates the effect of financing policy decisions on the value of quoted Nigeria Consumer Goods Sector. The study employed scientific method to obtain data from annual reports of twenty-six selected companies operating in the sector. The two variants of Panel model, namely; Random Effect and Fixed Effect Models were employed at 5% level of significance. The findings through suitable RE Model revealed that total debt-to-equity (-0.0033: p-value 0.7359), total debt-to-total asset (-15.6582: p-value 0.0580) and dividend payout ratio (-2.7584: p-value 0.7466) of firms in the sector exert insignificant negative effect on firms’ value while price-earnings ratio (3.01E-07: p-value 0.0196) yield significant positive impact on value of firms. The study affirms th.. View more»
  

  Abstract PDF