FIRM SPECIFIC DETERMINANTS AND SUSTAINABLE GROWTH OF INDUSTRIAL GOODS FIRMS NIGERIA

Abstract

This study examined firm characteristics determinants of sustainable growth of listed industrial goods firms in Nigeria. The scope of this study covers a 10-year period ranging from 2011 to 2020. In this study, profitability and capital structure are the firm specific characteristics proxies adopted. In testing the hypotheses, the study conducted panel least square regression before proceeding to check for inconsistencies with the basic assumptions of the OLS regression. Findings from the analysis show that profitability and capital structure have a negative insignificant effect on sustainable growth, while has a negative insignificant effect on sustainable growth. Based on the findings of this study, It is recommend that management of these industry goods companies should advocate for policies that will enhance swift conversion of inventory to cash to improve firm growth. This could range from the provision of cash discussant to customer to encourage purchase.