Skip to content
Research Article Open access CC BY 4.0

Financial Strategy and Corporate Performance Growth of Selected Food and Beverages Manufacturing Companies in Nigeria

Anisulowo, Temitope A., Sofayo, Abiola A., Adeleke, Adebisi M., Sanni, Christian O.

Asian Journal of Economics, Business and Accounting · pp. 250–267 · Published 29 Dec 2023

10.9734/ajeba/2023/v23i241202

Abstract

Aim/Objective: In the course of the study, the main objectives of the study was to determine the effect of financial strategy (strategy of investing in company assets, strategy of acquisition of capitals, strategy of redistribution of profit) on corporate performance growth (profitability, innovation, corporate culture attitude) of selected food and beverages manufacturing companies in Nigeria. Methodology: The four selected food and beverages manufacturing companies in Nigeria made up the study’s population. With a total number of 168 staffs, the study population involved both the middle and top management. The study adopted purposive sampling technique which is the deliberate choice of a researcher due to the qualities of information it possesses. Primary data was used for the purpose of this study. Regression analysis was also used for data analysis. Findings: The result of the analysis reveal that: (i) with the result of hypothesis one; the regression estimates results revealed that strategy of investing in company assets has significant effect on profitability (T-test = 1.922, p = 0.043). (ii) for hypotheses two, regression estimates results revealed that strategy of acquisition of capitals has significant effect on innovation (T-test = 2.973, p = 0.004). (iii) for hypotheses three, regression estimates results revealed that strategy of redistribution of profit has significant effect on corporate culture attitude (T-test = 1.447, p = 0.025). Research Limitations/Implications: Restrictions point to the limitations that analysts experience when conducting research. When analyzing the effect of financial strategy on corporate performance growth, the analyst experiences some limitations in this consideration, such as limited test measurement, etc. Originality/Value: No research was found regarding the financial strategy and corporate performance growth during the time period of 2023. Conclusion: The study concluded that there is a positive significant effect between financial strategy and corporate performance growth of selected food and beverages manufacturing companies in Nigeria.

Strategy of investing in company assets strategy of acquisition of capitals strategy of redistribution of profit

References (19)

  1. 1 Efficacy of the Theory of Planned Behaviour: A meta‐analytic review [DOI]
  2. 2 The Theory of Planned Behavior [DOI]
  3. 3 Organization and Environment: Managing Differentiation and Integration. [DOI]
  4. 4 Organizational behavior and human decision processes [DOI]
  5. 5 A Contingency Model of Leadership Effectiveness [DOI]
  6. 6 Archetypes of Strategy Formulation [DOI]
  7. 7 Financing renewable energy: Who is financing what and why it matters [DOI]
  8. 8 Firm growth and its determinants [DOI]
  9. 9 Profit redistribution in family-controlled, group-affiliated publicly-listed corporations in Malaysia [DOI]
  10. 10 Validation and extension of the contingency model of leadership effectiveness: A review of empirical findings. [DOI]
  11. 11 Cost Reduction Strategies and the Growth of Selected Manufacturing Companies in Nigeria
  12. 12 Effect of Financial Planning Practices on the Financial Performance of Non Profit Making Health Organizations in Kiambu County, Kenya [DOI]
  13. 13 FINANCIAL STRATEGY DEVELOPMENT PROCESS [DOI]
  14. 14 INFLUENCE OF MARKETING PROMOTIONS STRATEGY ON PERFORMANCE OF THE TEA INDUSTRY IN MOUNT KENYA REGION
  15. 15 International Journal of Scientific and Research Publications [DOI]
  16. 16 European Journal of Business and Management [DOI]
  17. 17 International Journal of Mechanical Engineering and Technology (IJMET) [DOI]
  18. 18 THE IMPACT OF FINANCIAL DECISIONS AND STRATEGY ON SMALL BUSINESS COMPETITIVENESS
  19. 19 Financial Strategies for Sustaining Small Businesses

Cited by 0

No indexed citations yet.

Article metrics

Real usage data collected on this platform.

10

Page views

0

PDF downloads

9

Outbound clicks

0

Citations

Views over time

Views by country

Approximate, from request IP at view time — not citizenship or institution. Countries with fewer than 5 views are grouped as "Other".

Traffic sources

Referring site, by host.

Views and downloads exclude known bots/crawlers. Citations combines this platform's own DOI-resolved index with each external source's own reported total — see Cited by above for individually listed citing works. Last refreshed 0 seconds ago.