Title: Financial strategy and corporate performance growth of quoted cement manufacturing companies in Nigeria

Authors: Folajimi Festus Adegbie; Christopher Taiwo Akenronye

Addresses: Department of Accounting, Babcock University, Ilishan-Remo, Ogun State, Nigeria ' Department of Accounting, Babcock University, Ilishan-Remo, Ogun State, Nigeria

Abstract: Firms survive by maintaining financial plan to drive performance growth for favourable market value of companies. This study evaluated effect of financial strategy on corporate performance growth of quoted cement manufacturing companies in Nigeria. The study adopted ex-post facto research design. The population of the study comprised of all the quoted cement manufacturing companies on the Nigerian Stock Exchange (NSE) as at 31 December 2017. Findings revealed that financial strategy measures had significant effects on corporate performance growth, growth measures (F(3, 57) = 0.33, adj. R² = -0.0507, p > 0.1). The study concluded that financial strategy does not jointly affect the corporate performance growth of quoted cement manufacturing companies in Nigeria, but affected on individual basis. The study recommended that the management should do proper analysis of the use of combined financial strategies to guide appropriate selection of financial strategies that will engender achievement of corporate performance growth for competitive advantage.

Keywords: corporate performance growth; dividend decision; financing decision; financial strategy; investment decision; Nigeria.

DOI: 10.1504/IJBIR.2022.127185

International Journal of Business Innovation and Research, 2022 Vol.29 No.3, pp.367 - 405

Received: 26 Mar 2020
Accepted: 12 Sep 2020
Published online: 25 Nov 2022 *

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