Abstract
This study sought to investigate firm Age and Profitability: Evidence from Nigeria. The main objective of this study is to determine if firm age affect the profitability of non-financial companies in Nigeria and also to know if older firms out performs younger firms. Age can have adverse effects on performance also because of the organizational rigidities and inertia it brings about and because it impairs the ability affirm to perceive valuable signals. Descriptive statistic and correlation analysis which tests for normality and association among the data in the variables in the model specified and a cross sectional analysis was carried out by way of panel data regression technique. This study examines the determinants of firm profitability for 114 firms listed on the Nigerian Stock Exchange (NSE) from 1998 to 2012, using the system Generalized Method of Moments (GMM). The results show that lagged profitability exerts significant positive effect on contemporaneous firm profitability. However, short-term leverage, inflation rate, interest rate and financial risk have significant negative effects on firm profitability. The study concluded that young firms are better but the higher the age, the more profit the firm is expected to generate. The study recommends that firms whether old or young should better align their business activities to be able to withstand both internal and external factors that could hinder performance in future.
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