Firm Attributes and Profitability of Publicly Listed Non-Financial Companies: Evidence from Nigeria
The principal objective of this study was to examine the relationship between firm attributes and profitability of publicly traded non-financial enterprises in Nigeria. An ex-post facto research design was used and as of December 31, 2022, the population comprised all 116 publicly traded non-financial firms quoted on the Nigerian Exchange Group. The research utilised purposive sampling in order to identify and include fifty (50) non-financial companies. The profitability data, including return on assets and firm attributes such as size, leverage, and liquidity, were gotten from the yearly statements of publicly traded nonfinancial companies from 2012 to 2022. Utilising a multiple regression estimate technique, the analysis of the data reveals that company size, liquidity, and leverage are the most significant determinants of profitability for publicly traded non-financial enterprises in Nigeria. The study concludes that firm attributes are vital metrics in determining profitability of publicly listed non-financial companies in Nigeria. The research proposed that for non-financial companies' management to raise profitability, they should be diligent in their pursuit of methods to optimise and enhance asset utilisation while maximising resource utilisation throughout the methods used in manufacturing and the final product's delivery. Keywords: Firm attributes; Profitability; Return on assets; Liquidity; Assets; Firm size