@article{MAKHILLJEAS2019142418841,
    title = {Capital Structure and its Deterinants: Case of Quoted Firms in Agriculture and
Agro-Allied Sector of the Nigerian Economy},
    journal = {Journal of Engineering and Applied Sciences},
    volume = {14},
    number = {24},
    pages = {9667-9676},
    year = {2019},
    issn = {1816-949x},
    doi = {jeasci.2019.9667.9676},
    url = {https://makhillpublications.co/view-article.php?issn=1816-949x&doi=jeasci.2019.9667.9676},
    author = {Adegbola,Babatunde,Ibrahim,Damilola,Samuel,Dominic and},
    keywords = {result,current liabilities,non-current liabilities,shareholder equity,Capital structure,supports},
    abstract = {Results of extant researches on capital structure and its determinants are mixed. However, most of
these extant researches had been conducted in the pre-International Financial Reporting Standard (hereafter
referred to as IFRS) era. This gives rooms for further studies on this area of study. Hence, this study adopted
post IFRS period from 2012-2016 to examine the relationship between capital structure proxied by Non-Current
Liabilities (hereafter referred to as NCURLIAB) as well as Current Liabilities (hereafter referred to as CURLIAB)
and its determinant proxied by Shareholder Equity (hereafter referred to as SHEQUITY) and Profit before
Interest and Tax (hereafter referred to as PBIT) in post era using quoted firms in agriculture and agro-allied
sector of the Nigerian economy. This research used ordinary least square regression analysis. Secondary data
used were obtained the firm’s audited annual reports. The result indicates that NCURLIAB and SHEQUITY are
negatively and significantly related. The result also shows that CURLIAB and SHEQUITY are negatively and
significantly related. NCURLIAB and PBIT are also negatively and significantly related. This shows profitable
firms with sufficient SHEQUITY do not depend on either NCURLIAB or CURLIAB to fund its business
operation. However, CURLIAB and PBIT are positively and significantly related. This suggests that most of
CURLIAB are at little or no cost to firms involved agriculture and agro-allied sector of the Nigerian economy
during period under study, hence, they are more like internal source of fund. This result supports the pecking
order theory. Therefore, we suggest management of firms should generate sufficient reserves for all their future
business needs.}
    }