The Relationship Between Capital Sructure and Financial Performance of Firms in Ghana and Nigeria

• DOI: 10.24018/ejbmr.2022.7.1.1282
• Publication Date: 2022-02-20T21:23:42Z
• Authors: K. Opoku-Asante; E. C. Winful; M. Sharifzadeh; M. Neubert
• Keywords: Debt ratio

This study aimed to investigate, using a sectorial analysis, the relationship between capital structure and financial performance consider effect of debt maturity on relationship. performance, considering maturity, 425 cross-sectional firm-year samples from firms in Ghana Nigeria 2014 2019. The empirical findings suggested significant negative performance. Debt did not affect However, Industry influences direction Also, specific sectors but market. paper extends previous studies by incorporating Nigeria. this will assist finance managers maximizing financially sensible heterogeneities such as sector funding source when making financing decisions.