Analysis of the relationship between Financial Structure, Return on Assets, and Return on Equity in Nigeria's Manufacturing Sector

The study specifically looked at the relationship between a company's financial success and its financial structure. For the study, twenty-one companies that were listed on the stock exchange throughout this time were chosen. The Pecking Order hypothesis of financial structure served as the foundation for the investigation. Panel data from the Nigerian Stock Exchange Fact-Book was used in the study, which used an ex post facto research approach. Using return on assets (ROA), return on equity (ROE), and profits per share (EPS) as financial indicators, the Ordinary Least Square (OLS) approach was used to assess the link between the businesses' financial structure and financial performance. The hypotheses developed for the study were tested using short-run regression. Keyword: Finance, Performance, Organization, Return on asset, manufacturing,