International Journal of Social Science & Economic Research
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Title:
Effect of Firm Attributes on Shareholders’ Wealth of Nigerian Listed Manufacturing Companies

Authors:
Dagwom Yohanna DANG ; Ayobami Akofe SAMOTU ; Saidu Ibrahim HALIDU and Nentawe Nengak DESHI

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Dagwom Yohanna DANG1 ; Ayobami Akofe SAMOTU2 ; Saidu Ibrahim HALIDU3 and Nentawe Nengak DESHI4
1. Department of Public Sector Accounting, ANAN University, Kwall, Plateau State, Nigeria
2. Department of Financial Management, ANAN University, Kwall, Plateau State, Nigeria
3. Department of Financial Reporting, ANAN University, Kwall, Plateau State, Nigeria
4. Department of Accounting, ANAN University, Kwall, Plateau State, Nigeria

MLA 8
DANG, Dagwom Yohanna, et al. "Effect of Firm Attributes on Shareholders’ Wealth of Nigerian Listed Manufacturing Companies." Int. j. of Social Science and Economic Research, vol. 10, no. 1, Jan. 2025, pp. 151-167, doi.org/10.46609/IJSSER.2025.v10i01.007. Accessed Jan. 2025.
APA 6
DANG, D., SAMOTU, A., HALIDU, S., & DESHI, N. (2025, January). Effect of Firm Attributes on Shareholders’ Wealth of Nigerian Listed Manufacturing Companies. Int. j. of Social Science and Economic Research, 10(1), 151-167. Retrieved from https://doi.org/10.46609/IJSSER.2025.v10i01.007
Chicago
DANG, Dagwom Yohanna, Ayobami Akofe SAMOTU, Saidu Ibrahim HALIDU, and Nentawe Nengak DESHI. "Effect of Firm Attributes on Shareholders’ Wealth of Nigerian Listed Manufacturing Companies." Int. j. of Social Science and Economic Research 10, no. 1 (January 2025), 151-167. Accessed January, 2025. https://doi.org/10.46609/IJSSER.2025.v10i01.007.

References

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ABSTRACT:
This study investigates the factors influencing shareholders' wealth in Nigerian listed manufacturing companies, focusing on profitability, liquidity, capital structure, and corporate governance. Adopting a quantitative research design with an experimental approach, the study employs an ex post facto methodology to analyze the financial performance and governance practices of listed manufacturing companies on the Nigeria Exchange Group from 2012 to 2022. The research population comprises 25 listed consumer goods firms, selected through purposive sampling based on data completeness to ensure robustness and reliability of findings. The study finds that profitability and liquidity did not exhibit statistically significant relationships with shareholders' wealth. However, capital structure and corporate governance practices emerged as critical determinants. Higher debt levels relative to equity were associated with lower shareholders' wealth, highlighting the importance of prudent financial leverage. Stronger corporate governance practices significantly correlated with higher shareholders' wealth, emphasizing the role of transparent and effective governance frameworks in enhancing firm performance and investor confidence. Based on these findings, recommendations are made to optimize capital structure, enhance corporate governance practices, focus on profitability and efficiency, and monitor liquidity management to foster sustained shareholder wealth in Nigerian manufacturing companies.

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