Effect of Sales Revenue Growth on the Corporate Performance of Nigerian Listed Foods and Beverages Manufacturing Firms
This study investigated the effect of sales revenue growth on the corporate performance of listed Nigerian foods and beverages manufacturing firms. The study used secondary source of data to collect panel data from the financial statements of the selected firms between 2011 and 2020. The population...
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| Format: | Article |
| Language: | English |
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Financial University
2022-06-01
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| Series: | Review of Business and Economics Studies |
| Subjects: | |
| Online Access: | https://rbes.fa.ru/jour/article/view/175/176 |
| _version_ | 1797222276847894528 |
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| author | Olaoye Ayoola Azeez |
| author_facet | Olaoye Ayoola Azeez |
| author_sort | Olaoye Ayoola Azeez |
| collection | DOAJ |
| description | This study investigated the effect of sales revenue growth on the corporate performance of listed Nigerian foods and beverages manufacturing firms. The study used secondary source of data to collect panel data from the financial statements of the selected firms between 2011 and 2020. The population of the study is made up of the eight (8) listed foods and beverages companies listed on the Group Stock Exchange Nigerian Limited. The sample four (4) of the firms were obtained using a purposive sampling technique. The study employed the correlation analysis and the ordinary least square technique for data estimation. The research work found that the co-efficient of the sales revenue on the return on assets is positively and significantly signed (0.17548, P-value of 0.02 < 0.05) with the correlation result of 0.8965. The study therefore concluded that sales revenue growth has a positive effect on the corporate performance of listed foods and beverages manufacturing firms in Nigeria with a strong positive correlation between the turnover and the firms’ performance. Therefore, the research work recommended that the directors of the foods and beverages firms should strategize on how to improve on their advert coverage to increase their markets share that will improve the level of their firms’ turnover in Nigeria. |
| first_indexed | 2024-04-24T13:18:46Z |
| format | Article |
| id | doaj.art-ec3c2045d3f647e999122a51e590e594 |
| institution | Directory Open Access Journal |
| issn | 2308-944X 2311-0279 |
| language | English |
| last_indexed | 2024-04-24T13:18:46Z |
| publishDate | 2022-06-01 |
| publisher | Financial University |
| record_format | Article |
| series | Review of Business and Economics Studies |
| spelling | doaj.art-ec3c2045d3f647e999122a51e590e5942024-04-04T17:04:40ZengFinancial UniversityReview of Business and Economics Studies2308-944X2311-02792022-06-01102612https://doi.org/10.26794/2308-944X-2022-10-2-6-12Effect of Sales Revenue Growth on the Corporate Performance of Nigerian Listed Foods and Beverages Manufacturing Firms Olaoye Ayoola Azeez0https://orcid.org/0000-0002-2360-3213Ekiti State UniversityThis study investigated the effect of sales revenue growth on the corporate performance of listed Nigerian foods and beverages manufacturing firms. The study used secondary source of data to collect panel data from the financial statements of the selected firms between 2011 and 2020. The population of the study is made up of the eight (8) listed foods and beverages companies listed on the Group Stock Exchange Nigerian Limited. The sample four (4) of the firms were obtained using a purposive sampling technique. The study employed the correlation analysis and the ordinary least square technique for data estimation. The research work found that the co-efficient of the sales revenue on the return on assets is positively and significantly signed (0.17548, P-value of 0.02 < 0.05) with the correlation result of 0.8965. The study therefore concluded that sales revenue growth has a positive effect on the corporate performance of listed foods and beverages manufacturing firms in Nigeria with a strong positive correlation between the turnover and the firms’ performance. Therefore, the research work recommended that the directors of the foods and beverages firms should strategize on how to improve on their advert coverage to increase their markets share that will improve the level of their firms’ turnover in Nigeria.https://rbes.fa.ru/jour/article/view/175/176corporate performancefoods and beverages firmssales revenue growth |
| spellingShingle | Olaoye Ayoola Azeez Effect of Sales Revenue Growth on the Corporate Performance of Nigerian Listed Foods and Beverages Manufacturing Firms Review of Business and Economics Studies corporate performance foods and beverages firms sales revenue growth |
| title | Effect of Sales Revenue Growth on the Corporate Performance of Nigerian Listed Foods and Beverages Manufacturing Firms |
| title_full | Effect of Sales Revenue Growth on the Corporate Performance of Nigerian Listed Foods and Beverages Manufacturing Firms |
| title_fullStr | Effect of Sales Revenue Growth on the Corporate Performance of Nigerian Listed Foods and Beverages Manufacturing Firms |
| title_full_unstemmed | Effect of Sales Revenue Growth on the Corporate Performance of Nigerian Listed Foods and Beverages Manufacturing Firms |
| title_short | Effect of Sales Revenue Growth on the Corporate Performance of Nigerian Listed Foods and Beverages Manufacturing Firms |
| title_sort | effect of sales revenue growth on the corporate performance of nigerian listed foods and beverages manufacturing firms |
| topic | corporate performance foods and beverages firms sales revenue growth |
| url | https://rbes.fa.ru/jour/article/view/175/176 |
| work_keys_str_mv | AT olaoyeayoolaazeez effectofsalesrevenuegrowthonthecorporateperformanceofnigerianlistedfoodsandbeveragesmanufacturingfirms |