Capital Structure Composition and Financial Performance of Firms in the Brewery Industry: Evidence from Nigeria

Amah, Kalu Ogbonnaya, Ken Nwachukwu Chimara


This work studies Capital Structure Compostion and Fincial Performance of Firms in the Brrewery Industry, evidance from Nigeria, The Study made use of Two Brrewery listed in the Nigeria Stock Exchange during the period of 2004-2013. We used four  financial performance measures;Retain Earing(RE); Net asset value per Share(NAVPS); Market price per Share(MPS) and Tobin’s Q; as dependent varribles and Four Capital Compostion: Current Libity to Total Asset, Total Liblity to Total Assets, Debt to Equity and Debt to Asset as Independent varible.  Using   regression method we found  out that the Capital Structure Compostion are negatively related to Fincial Performace. We concluede that capital structur compostion have  no impact on Finacial Performace , which is consisted with the Peacking Order Theory.

Keywords: Capital Structure Compostion, Financial Performance, Brewery Indusrty, Nigeria.

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