Effect of Financial Ratios on Operational Performance of Selected Brewery Firms in Nigeria

ENEH, George N.O., NWANKWO, Caroline Nkechinyere


The study assessed the effect of some accounting ratios on the financial performance of selected firms on brewery industry in Nigeria. The research adopted ex-post facto research design covering the period of ten years, 2007-2016. Secondary data were collected from annual report and accounts of selected brewery firms quoted in the Nigeria Stock Exchange. The data were analyzed using multiple linear regression technique. Findings indicate that Dividend per Share had positive and significant effect on market value while return on equity has positive and insignificant effect on market value of firms. The implication of the finding is that dividend  per share and return on equity  can used in predicting the movement of market value of firms in brewery sector  in Nigeria. The study hereby recommends that firms should enhance both their  Dividend  per Share and return on equity  to grow the market values \of  brewery firms in Nigeria.

Keywords: Financial ratios, Financial Performance, Valuation, Dividend per Share, Return on Assets, Nigeria.

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ISSN (Paper)2222-1700 ISSN (Online)2222-2855

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