Firm Characteristics and Profitability in Nigerian Consumer Goods Firms: Assessing the Moderating Effect of Firm Size

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Ex post facto analysis assesses profitability influences from firm characteristics in Nigeria, highlighting firm size's role.

Liquidity significantly affects profitability, while leverage and firm age have adverse effects.
Analysis reveals that firm size moderates liquidity's impact on profitability through panel regression techniques.
The study utilizes data from 16 consumer goods companies listed on the Nigerian Exchange Group over a decade.
Findings emphasize the need for companies to improve liquidity practices to bolster profitability, especially during growth.

Idogho et al. (2025) studied this question.

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