ANALYSIS OF CAPITAL STRUCTURE AND EFFECTIVENESS OF BUSINESS ENTERPRISES FOR NATIONAL SUSTAINABLE DEVELOPMENT AND DISASTER MANAGEMENT
Managing capital structure is one of the most important and difficult problems to be solved in the process of funding, sourcing and providing finance for an enterprise. Instant response to changing external and internal environment requires significant update of many management functions in order to reduce their financial risk. The research aims to enhance the analysis of capital structure and effectiveness of business enterprises for national sustainable development and disaster management through the use of combinatorial methods for the analysis of 31 selected companies listed in the Nigeria Stock Exchange Bulletin from 1999 to 2013, certified by the Securities and Exchange Commission (SEC). The method of analysis is the panel estimation technique where the study seeks to analysis both the short-run dynamics and long-run nexus between capital structure and the effectiveness of business enterprises. The results obtained are highly instructive as valuable conclusions were drawn; and policy suggestions, which are deemed to benefit the investors and shareholders, lenders and finally, academicians who will see new empirical evidence in the accounting literature emanating from an emerging economy like Nigeria were proffered.
|Keywords: Analysis of Capital Structure, Corporate Effectiveness, Dynamic Panel Model, Static Model of Panel Data and National Sustainable Development.|
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