Cost Efficiency and Financial Performance of Listed Manufacturing Firms in Nigeria

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@article{1705049,
      author = {Ukeme Charles NKPODOT, Dr. Emmanuel EMENYI},
      title = {Cost Efficiency and Financial Performance of Listed Manufacturing Firms in Nigeria},
      journal = {Iconic Research And Engineering Journals},
      year = {2023},
      volume = {7},
      number = {3},
      pages = {192-213},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1705049.pdf},
      abstract = {This study examined the influence of cost efficiency on financial performance of listed manufacturing firms in Nigeria. This was achieved through the following specific objectives:  to examine the effect of raw materials management efficiency on financial performance of listed manufacturing firms in Nigeria; to ascertain the influence of labour efficiency on financial performance of listed manufacturing firms in Nigeria; to determine the effect of overhead efficiency on financial performance of listed manufacturing firms in Nigeria. The study used expost facto research design with sample size of ten (10) firms from 2015-2021. Secondary data was the main source of data collection and this was obtained from financial reports of the listed manufacturing firms. Multiple linear regressions was employed to test the hypotheses at 0.05 level of significance and statistical package for social science (SSPS version 20.0) was used to enhance data analysis. The findings of the study revealed that there was a significant positive effect of raw material efficiency on the financial performance of listed manufacturing firms in Nigeria; also, Labour efficiency was also found to have a positive influence on financial performance of listed manufacturing firms in Nigeria. Based on the findings of the study, it was concluded that there is a significant influence between raw material efficiency, labour efficiency and overhead efficiency on financial performance of manufacturing firms in Nigeria. It was therefore recommended that; material cost should be reduced to the barest minimum since it is one of the integral components of cost of sale and this can be achieved by encouraging large scale merchandized production of the major raw material of the firm; It was also recommended that, manufacturing firms should increase their resource commitment to training and re-training of staff and R&D so as to update their knowledge, develop their skills in modern manufacturing techniques.},
      keywords = {Raw Materials Management Efficiency, Labour Efficiency, Overhead and Financial Performance.},
      month = {September},
  }