{"product_id":"financial-risk-and-capital-structure-choice-in-nigeria-von-oyesola-salawu","title":"Financial Risk and Capital Structure Choice in Nigeria","description":"\u003cp\u003eThe study examined the effects of financial risk,  firms'' characteristics and macroeconomic factors on  the capital structure and the rate at which firms  adjust towards their target capital. Secondary  annual panel data for the period of 1990 to 2006  using 70 non-financial listed companies for analysis  were employed. Data were sourced from the Annual  Report and Accounts of the sampled firms and the  publications of Central Bank of Nigeria. Descriptive  method and Generalized Method of Moment (GMM) were  used to analyze data. The results indicate a  positive coefficient between financial risk and  capital structure and those Nigerian companies with  higher financial risk tend to use more short-term  debt in general. Also, profitability, tangibility,  corporate tax rate, age of the firm, earning power,  volatility, inflation and foreign direct investment,  have significantly positive effects on capital  structure. In addition, thirty-eight firms adjust  fully to their target capital, while thirty-two over  adjust. The study concluded that effective financial  risk management and good financing policy decision  would greatly improve firms'' performance in Nigeria.\u003c\/p\u003e\u003cdiv class=\"aw-variant-hidden-subtitle-div\" id=\"aw-variant-subtitle-9783843350273\"\u003e\u003ch3\u003eFinancial Risk, Speed of Adjustment and Capital Structure Choice in Nigeria: Determinants and  Implications\u003c\/h3\u003e\u003c\/div\u003e","brand":"Autorenwelt Shop","offers":[{"title":"Softcover - 9783843350273","offer_id":39470061322333,"sku":"9783843350273","price":68.0,"currency_code":"EUR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0940\/0622\/files\/28b83451-f781-4171-b4eb-3fa4ec51480c.jpg?v=1758871699","url":"https:\/\/shop.autorenwelt.de\/products\/financial-risk-and-capital-structure-choice-in-nigeria-von-oyesola-salawu","provider":"Autorenwelt Shop","version":"1.0","type":"link"}