What question did this study set out to answer?

To examine how different dimensions of firm growth impact financial performance among listed consumer goods firms in Nigeria.

August 11, 2026Open Access

Firm Growth and Financial Performance of Listed Consumer Goods Firms in Nigeria: The Role of Turnover, Equity and Total Assets

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Authors

EPEdogbo, Daniel Aduku, Ph.D.SASamuel Uchezuike AniEnugu State University of Science and Technology BOBonaventure S. Ph.D. Okonkwo

Discussion

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Implication

Investigates how turnover, equity, and total assets affect profitability in Nigerian consumer goods firms, suggesting pathways for better growth outcomes.

Key Points

To examine how different dimensions of firm growth impact financial performance among listed consumer goods firms in Nigeria.
Balanced panel analysis of 60 firm-year observations from 5 consumer goods firms listed on the Nigerian Exchange Group (2014-2025)
Used descriptive statistics, Pearson correlation, and fixed-effects model for analysis
Applied Hausman test to determine the appropriateness of fixed-effects model
Turnover has a positive but statistically insignificant effect on return on assets (β = 0.0000107, p = 0.9859)
Equity shows a positive and significant effect on profitability (β = 0.0051, p = 0.0000)
Total assets have a negative and significant impact on return on assets (β = −0.0008, p = 0.0090)

Cite This Study

Ph.D. et al. (2026) studied this question.

synapsesocial.com/papers/6a7ace3e3401087f2249e330 https://doi.org/10.5281/zenodo.21864963

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Implication

Investigates how turnover, equity, and total assets affect profitability in Nigerian consumer goods firms, suggesting pathways for better growth outcomes.

Firm Growth and Financial Performance of Listed Consumer Goods Firms in Nigeria: The Role of Turnover, Equity and Total Assets

Discussion

Member takes

Implication

Key Points

Cite This Study

Firm Growth and Financial Performance of Listed Consumer Goods Firms in Nigeria: The Role of Turnover, Equity and Total Assets

Discussion

Member takes

Implication

Key Points

Cite This Study

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