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Financial Leverage and Performance of Bank and Non-bank Firms in Nigeria
The study investigates the effects of financial leverage on the performance of firms in Nigeria. Specifically, the study examines the effect of financial leverage on firm size of the selected bank and non-bank firms in Nigeria; assess the relationship between financial leverage and debt to equity ratio of selected banks and non-bank firms in Nigeria across seven firms in Nigeria from 2007 to 2018. The study proxied return on an asset as the dependent variable while return on capital employed, firm size and debt to equity ratio were the explanatory variables. Static panel regression was made as to the main technique, and evidence from the result showed and concluded that financial leverage exacts a negative influence on the performance of firms in Nigeria. Thus, it was recommended that firms should endeavour to embark on capital investments in a bid to increase the performance of firms in Nigeria adequately.
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