Firm Characteristics and Financial Performance of Listed Agricultural Firms in Nigeria

This study examines the impact of firm characteristics and financial performance of listed Agricultural firms in Nigeria. The research used secondary data, covering the period of ten (10) years, from 2014 to 2023. The study population was 5 listed Agricultural firms in Nigeria, with a sample of 5 Agricultural firms, covering all the entire population. The study adopted ex-post facto research design. Ordinary least square (OLS) regression techniques were used for data analysis. The study found a negative and significant relationship between firm age, firm size and financial leverage with the financial performance of listed Agricultural firms in Nigeria, which was measured using Return on Assets (ROA). Also, the results revealed a positive significant relationship between liquidity management and financial performance of listed agricultural firms in Nigeria. In line with the findings, the study concludes that firm characteristics play a crucial role in determining financial performance in Nigeria’s agricultural sector. Based on the finding and conclusions, the study recommends that Agricultural firms should explore expansion strategies such as mergers, acquisitions, and diversification of operations. Expanding business activities can enhance economies of scale, improve cost efficiencies, and strengthen competitive positioning within the industry.