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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The impact of equity capital, retained earnings and debt on corporate profits in Nigeria
Author:Oyejide, T. AdemolaISNI
Year:1987
Periodical:The Nigerian Journal of Economic and Social Studies
Volume:29
Issue:1
Pages:35-45
Language:English
Geographic term:Nigeria
Subject:investments
Abstract:The funds required by corporate organizations to finance their growth and other activities are obtained from three basic sources: equity capital, retained earnings, and debt. This paper estimates and compares the relative returns derived from using each of these three basic sources of funds within an aggregative framework using data obtained from the published annual reports and in some cases the prospectuses of about 50 firms in manufacturing, distribution and services whose shares are quoted and traded on the Nigerian stock exchange. The period covered is between 1973 and 1983. The results raise questions about managerial decisionmaking relating to optimal capital structure and corporate financing of Nigerian firms. Bibliogr.
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