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The Determinants of Firm Growth in Nigeria

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  • Omo Aregbeyen*

Abstract

This study investigates the factors that influence the growth rate of firms in Nigeria with a sample of 94 publicly listed firms during the period 1994-2005. The theoretical/analytical framework rested on the optimal firm size growth theory. It offers the most practical approach. The empirical methodology combines descriptive/statistical with econometric analysis. The significant determinants of the firms’ growth rates include the firms’ previous growth rates, size, age, capital intensity, financial constraints, management efficiency, and the extent of vertical integration. However, the significance of these factors depends on how the growth of firm is defined and/or measured as well as the estimation methods.

Suggested Citation

  • Omo Aregbeyen*, 2012. "The Determinants of Firm Growth in Nigeria," Pakistan Journal of Applied Economics, Applied Economics Research Centre, vol. 22, pages 19-38.
    • Handle: RePEc:pje:journl:article12i
    as

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    File URL: http://aerc.edu.pk/wp-content/uploads/2016/08/Article_15PPR-478-II-1.pdf
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    References listed on IDEAS

    as
    1. Almus, Matthias, 2000. "What Characterizes a Fast Growing Firm?," ZEW Discussion Papers 00-64, ZEW - Leibniz Centre for European Economic Research.
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