FIRM CHARACTERISTICS AND CORPORATE RESERVE OF QUOTED OIL AND GAS FIRMS IN NIGERIA

Authors

  • Chukwuka Lilian Ijeoma
  • Okegbe, Theophilus O
  • Amahalu, Nestor Ndubuisi
  • Obi, Juliet Chinyere

Abstract

This study examined the relationship between Firm Characteristics and Corporate Reserve of quoted Oil and Gas firms in Nigeria for eleven (11) years period spanning from 2010-2020. Specifically, three objectives were formulated.  Purposively, eleven (11) quoted Oil and Gas firms constituted the sample size of this study between 2010 and 2020. Ex-Post facto research design was adopted while secondary data were extracted from the annual reports and accounts of the sampled Oil and Gas firms and were analysed using E-Views 10.0 statistical software. This study utilised descriptive statistics and inferential statistics via Pearson correlation and multiple regression analysis. Findings from the empirical analysis showed that there is a significant and positive relationship between firm size, liquidity, leverage and retained earnings at 5% level of significance respectively. It was recommended amongst others that for firms to sustain the positive relationship between firm Characteristics and corporate reserve, firms need to change from the basic resources-driven growth model to the knowledge-based growth model in the context of the globalization process and increasing competition pressure for higher economic performance.

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Published

2022-01-21