European Journal of Accounting, Auditing and Finance Research (EJAAFR)

EA Journals

Corporate performance

Environmental Financial Reporting and Corporate Performance of Listed Pharmaceutical Companies in Nigeria (Published)

A nation’s economic growth and development depend critically on the pharmaceutical business because of its inextricable link to people’s health and, by extension, their ability to put in productive hours at work. This study analyzed the effect of environmental financial reporting on the profitability of publicly listed pharmaceutical companies in Nigeria. The study relied on the ex post facto research design and made use of historical financial data on the adopted study variables. At the 0.05 threshold of significance as decision criteria, the study tested two hypotheses. The research used secondary data, and the businesses studied were a representative sample of the pharmaceutical companies listed on the Nigerian Exchange Group. Ordinary least square regression was used in conjunction with E-views version 9 to analyze the collected data.   Earnings per share of listed pharmaceutical businesses in Nigeria were shown to be favorably connected with environmental financial reporting proxy by employee’s welfare policy and community development cost. Management was urged to invest more in their workers’ well-being to boost morale and productivity in the pharmaceutical industry.


Keywords: Corporate performance, Environmental, Financial, Pharmaceutical Companies, Reporting

An Empirical Study on the Relationship between Capital Structure and Corporate Performance in China’s Food and Beverage Industry (Published)

The listed companies in China’s food and beverage industry have good profitability and low risk. They have the characteristics of stable performance growth and broad space for development. These companies have always attracted the attention of many investors and have become a unique sector in the stock market. This paper firstly sort out literature review on impact mechanism between capital structure and firm performance, and then use 58 listed companies in China’s food and beverage industry from 2011 to 2015 as sample, meanwhile dividing the companies into high-growth and low-growth companies. Finally, the empirical test was conducted with fixed effect regression respectively. The empirical results show that there is a weak degree of negative correlation between asset-liability ratio and performance of listed companies in China’s food and beverage industry. It concludes that: China’s food and beverage companies prefer equity financing, failing to make full use of financial leverage, meanwhile there is a structural imbalance in the development of capital markets.

Keywords: Beverage Industry, Capital Structure, Corporate performance, Food

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