Published February 3, 2026 | Version v1
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FINANCING CASH FLOW ON PERFORMACE OF CONGLOMERATES AND SERVICE-BASED INDUSTRIES IN NIGERIA

  • 1. Department of Accountancy, Federal Polytechnic, Oko, Anambra State
  • 2. Department of Accounting, Kingsley Ozumba Mbadiwe University, Ideato, Imo State

Description

This study focused on the effect of financing cash flow management and financial performance within the Nigerian corporate environment covers the period from 2020 to 2024. This study adopted an ex-post facto research design. The population of this study comprises of selected 10 conglomerates and service-based companies in Nigeria. Data were obtained from published financial statements, annual reports, and stock market records of selected companies listed on the Nigerian Exchange (NGX) from 2020 to 2024. The study relied solely on secondary data collected from audited financial statements of selected companies listed on the Nigerian Stock Exchange (NSE) from 2020 to 2024. The study employed regression analysis using Ordinary Least Squares (OLS) to estimate the model. The research found that listed companies benefit significantly from robust cash flow management. Financing Cash Flow showed statistically significant positive effects on ROA. The significance of FCF also supports the view that sound financing strategies such as controlled debt use or equity funding positively influence firm performance. Based on the findings, the study recommended that financing decisions should be approached with strategic caution. Firms should strive for an optimal capital structure that balances debt and equity, ensuring that financing inflows are effectively directed toward productive ventures.

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