International Journal of Academic Accounting, Finance & Management Research (IJAAFMR)   Year: 2023 | Volume: 7 | Issue: 8 | Page No.: 1-8 Effect of Financial Structure on Financial Performance of Non-Financial Firms in Nigeria Download PDF EHIEDU, Chukwunweike Victor & ONWAEZE, Offor Abstract: The study examined effect of financial structure on financial performance of non-financial firms in Nigeria, specifically; 20 non-financial firms for the period of 2013-2022 (10years). The specific objectives are to explored the effect of financial structure proxied with Long Term Debt Ratio (LTDR), Debt to Equity Ratio (DTER) and Short Term Debt Ratio (STDR) in relation to financial performance proxied with Return on Assets (ROA). Secondary data (panel data) was sourced from the annual reports and accounts of non-financial firms based on the variables under study. The secondary data obtained was analyzed through the application of descriptive statistics, correlation matrix, panel unit root test, Pendronic cointegration test and panel least square regression analytical technique using the E-VIEW (version 9.0) statistical tool. The findings revealed that LTDR, DTER and STDR have positive and significant effects on ROA of listed non-financial firms in Nigeria. The study concluded that financial structure exerts significant effect on financial performance of listed non-financial firms in Nigeria. Based on the summary of findings, the study therefore, recommends that LTDR should be applied to long term business plans of the non-financial firms in Nigeria to maximize their earning potentials as well as generate reasonable utility for the debt. Again, equity financing should be the first line approach.