Journals Information
Universal Journal of Accounting and Finance Vol. 10(2), pp. 538 - 548
DOI: 10.13189/ujaf.2022.100218
Reprint (PDF) (368Kb)
Multinationality and Financial Performance: The Place of Multinational Manufacturing Companies in Nigeria
Theophilus A. Aguguom 1,*, Sikiru O. Ashamu 2, Ebun Olanipekun 1
1 Department of Accounting & Finance, Augustine University, Ilara-Epe, Lagos, Nigeria
2 Department of Banking & Finance, Lagos State University, Lagos, Nigeria
ABSTRACT
Financial performance which results from the right combination of the sustainable conducive business environment, optimal utilisation of corporate human and capital resources and multinationality of operations by a competent management team, could be restricted due to challenges such as infrastructural deficits and inconsequential regulations. The business landscape in Nigeria is characterised by complexities related macroeconomic uncertainties and vulnerabilities predominant in the Nigerian economy. Multinational manufacturing companies are subjected to challenges which hinder financial performance such as unnecessary harsh conditions. Hence, the effect of multinationality on the financial performance of multinational manufacturing companies operating in Nigeria was examined in this study. An expo-facto research design was adopted as methodology for the study. A population of 22 Nigerian multinational manufacturing companies was selected. Eighteen companies, representing 80% of the population were purposively selected and observed for a period of 20 years. Secondary data were extracted from the audited financial statements of the selected manufacturing companies during the period under consideration. The data were analysed using descriptive statistics and inferential panel analysis. Findings revealed that multinationality exhibits a positive significant effect on the financial performance of multinational manufacturing companies in Nigeria. It is recommended that policymakers create enabling legal and regulatory framework that will ease business operations. Also, infrastructural investment should be provided to reduce the cost of running a business in Nigeria.
KEYWORDS
Competent Management, Financial Performance, Multinationality, Optimal Resource Management
Cite This Paper in IEEE or APA Citation Styles
(a). IEEE Format:
[1] Theophilus A. Aguguom , Sikiru O. Ashamu , Ebun Olanipekun , "Multinationality and Financial Performance: The Place of Multinational Manufacturing Companies in Nigeria," Universal Journal of Accounting and Finance, Vol. 10, No. 2, pp. 538 - 548, 2022. DOI: 10.13189/ujaf.2022.100218.
(b). APA Format:
Theophilus A. Aguguom , Sikiru O. Ashamu , Ebun Olanipekun (2022). Multinationality and Financial Performance: The Place of Multinational Manufacturing Companies in Nigeria. Universal Journal of Accounting and Finance, 10(2), 538 - 548. DOI: 10.13189/ujaf.2022.100218.