Determinants of Economic Sustainability and Performance of Listed Pharmaceutical Manufacturing Firms in Nigeria
- Post by: airjournals
- September 27, 2022
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The study focused on the Economic sustainability of the Performance of the listed Pharmaceutical firms in Nigeria. the variable employed are revenue and foreign exchange charge on return on assets. The study has two objectives and its purpose was to ascertain the effect of revenue on return on assets; determine the effect of foreign exchange charges on return on assets. Ex post facto research design was employed. Data were obtained from annual reports/financial statements of listed pharmaceutical manufacturing firms in Nigeria Exchange Group and Central Bank of Nigeria Statistical Bulletin. The data were analyzed using Panel least squares. The results revealed that, revenue has significant effect on return on assets (t = 30.40386, P= 0.0000, and p< 0.05) while foreign exchange charge has no significant effect on return on assets (t = 1.5J34456, P = 0.1615 and p> 0.05). We conclude that revenue has a significant positive effect on the firm assets while foreign exchange charge is an insignificant and negative effect on the firm assets. We recommended that Organizations should effectively plan and focus on the right determinants of economic sustainability.
Keywords: Economic Sustainability, Listed Pharmaceutical Manufacturing Firms, Foreign Exchange Charges, Performance
1Offorbuike, Samuel Arinze PhD, 2Ugwa, Magnus and 3Okolie, Jonathan Ibekawe
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