Ownership Structure and Financial Performance of Listed Pharmaceutical Companies in Nigeria

OWNERSHIP STRUCTURE AND FINANCIAL PERFORMANCE OF LISTED PHARMACEUTICAL COMPANIES IN NIGERIA

IHENYEN J. CONFIDENCE (PhD)

FATELE EMMANUEL OLORUUNLEKE

PORBENI CHRISTIANA OLUFUNKE

DEPARTMENT OF ACCOUNTING

FACULTY OF MANAGEMENT SCIENCES

NIGER DELTA UNIVERSITY, WILBERFORCE ISLAND,

BAYELS STATE

emmy292012@gmail.com

Abstract

Since health and productivity are directly linked to economic growth, the pharmaceutical industry is a critical component in a country’s overall prosperity. This research studied the link between the ownership structure of listed pharmaceutical businesses in Nigeria and their financial success. The design was implemented after the fact. The 0.05 threshold of significance was used to test two hypotheses. The study employed secondary data and a sample of 5 pharmaceutical companies listed in NSE were used. The data gathered was analysed using ordinary least square regression technique via E-views version 9. Findings revealed that managerial ownership (MANOWN) and ownership concentration (OWNCON) were negatively correlated and do not have a significant relationship with profit margin of quoted pharmaceutical companies in Nigeria. It was recommended that the Management of pharmaceutical companies should adopt policies that would favour appropriate increase in share capital size. This will help improve the propensity to better the ownership structure of the best known form of raising capital for firms.

Keywords: Ownership Structure, Financial Performance, Pharmaceutical Companies

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Confidence, I.J; Oloruunleke, F.E. & Olufunke, P.C (2022). Ownership Structure and Financial Performance of Listed Pharmaceutical Companies in Nigeria. Research Journal of Management Practice, 2(1), 113-122. Available online at: https://www.ijaar.org/articles/rjmp/v2n1/rjmp-v2n1-Jan22-p2116.pdf

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