The study examined the impact of capital structure on the performance of Nigeria firms. Simple random sampling technique was used to select 10 quoted companies based on the highest share price per unit from the three leading sectors that comprise financial services, consumer goods and conglomerate. This is crucial in order to increase the understanding and general practices of capital structure in Nigeria including the flexibility of leverage on each sector. The study employed the use of secondary data. The sample interval is for twelve-year period from 2000 to 2011 with ratio analysis chosen as a performance measurement. The study measures the relationship between the proxy of firm performance (Return on Asset, Return on Equity) and the proxy of capital structure (Debt to Asset ratio, Debt to Equity ratio). Their relationships were examined through the use of correlation matrix. The findings revealed that majority of the selected firms show a moderate and weak relationship with the return on asset and return on equity vis-a-vis the debt-equity ratio and debt asset ratio. The findings also depict that the variations in the degree of the relationship between the variables of the selected firms is attributed to their different stage in business cycle that often require various strategies competing in the business environment one of which is the development of an appropriate capital structure. We therefore conclude that capital structure is negatively related with firms performance as far as the sample of Nigeria firms are concerned as 60% of the correlation coefficient are negative across the total result. It was recommended that firm s finance managers should identify the optimal capital structure that will help to attain the best financial performance in their various business dealings.
In spite of the importance of the concept of design buildability, it has found little application in construction management because the concept is yet to be validly measured. It is for this purpose that this study aims at developing an evaluation technique that is mathematically valid, to generate a metric for measuring buildability which does not only preserve transitive order but that also measures distance. Buildability was modeled into the Resources Utilization Efficiency (RUE) equation as a disturbance (
The study assessed response of Nigerian Construction Industry to economic growth of Nigeria. The research was conducted using secondary data. The secondary data used was the National Account Dataset from 1981 to 2018 as 2010 constant price year. This was gotten from the Central Bank of Nigeria (CBN) publication reports. The response was evaluated through Impact propensity (IP), Finite Distributed Lag (FDL) and the Long Run Propensity (LRP). These parameters were calculated from the time series regression analysis using ordinary Least Square Method of estimation. The results show that the impact propensity of economic growth on construction is weak with correlation coefficient of -0.012. Delayed impact of economic growth on construction was observed with finite distributed lag of two year cycle. Maximum correlation coefficient of 1.265 with the economics of the preceding year (t-1) was observed. Long run propensity of 1.333 establishes a high growth propensity for construction industry given a one percent permanent GDP growth. Therefore, the study concluded that a consistent economic growth is desirable so as to achieve improved construction industry contribution to GDP.
This study examined the impact of capital budgeting on the effective performance of selected Local Governments in Nigeria. It adopted a survey research design and a structured instrument was used to elicit information from respondents. A total of one hundred and thirty-six (136) Local Governments in South Western constituted the population of the study. A pilot test was conducted on the questionnaire and a reliability co-efficient of 0.77 was obtained. Two hundred and fifty-three (253) copies of questionnaire were returned out of the three hundred (300) copies distributed to accounting officers of the selected Local Governments in Nigeria. A hypothesis was tested using Analysis of Variance (ANOVA), Regression Analysis (RA) at 5% level of significance. The hypothesis was tested to find out the relationship between capital budgeting techniques and Local Government performance in Nigeria. The findings revealed that there was a relationship between capital budgeting techniques and performance at the Local Government level in Nigeria. The study concluded that there was a relationship between the performance of Local Governments and their capital budgeting practices. It was recommended among others that all capital projects to be embarked upon should be supported with investment analysis showing project viability, feasibility and profitability. This would foster fund acquisition, utilization, and repayment. It will also ensure that funds will be available for the completion of the project and all debts incurred will be paid back as and when due. This study has therefore brought to limelight the practice of capital budgeting in the third tier of government in Nigeria and the effect it has on their performance.
The study estimated the output of informal sector of the Nigerian Cement Industry through the consumption of cement by the Nigerian Construction industry. The research was conducted using secondary data. The study adopted the statistical model of informal sector estimation, Nigeria construction industry being cement intensive, cement consumption approach was used for the estimation of the informal sector of the industry by using annual cement consumption as an independent variable against the annual construction output in a time series regression analysis, treating the informal sector output as an omitted variable in the ordinary least square method of estimation. Annual value added tax (VAT) pool data set was chosen as an instrumental variable. Using the instrumental variable method of estimation, the informal sector proportion of the Nigeria construction industry was therefore estimated. The study concluded that the informal sector of the Nigerian construction industry is 4.07 percent of the industry's output.
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