Financial leverage decisions in an era of corporate earnings down-turn and financial market instability: The Nigerian experience
This paper examines the impact of profitability on the financial leverage of firms operating in an unstable macroeconomic environment such as Nigeria. Using fixed and dynamic panel models, it finds consistent evidence that the profitability of a firm significantly and negatively affects its short-te...
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| Format: | Article |
| Language: | English |
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AOSIS
2011-10-01
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| Series: | Journal of Economic and Financial Sciences |
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| Online Access: | https://jefjournal.org.za/index.php/jef/article/view/324 |