Impact of Firm Attributes on the Financial Performance of Listed Deposit Money Banks in Nigeria

This study examines the impact of firm attributes on the financial performance of eight listed deposit money banks in Nigeria over the period 2010- 2021, using fixed effects model. The study utilized five firm attributes which include: firm age, firm size, leverage, growth, and managerial efficiency and used EPS to proxy the financial performance. The major findings reveal that firm age has a significant positive impact on the financial performance; firm size has a positive and significant impact on the financial performance; leverage has no significant impact on the financial performance; growth has a negative but significant impact on the financial performance and managerial efficiency has no significant impact on the financial performance proxy by EPS. The study concludes that although, firm attributes are very vital ingredients in the determination or the evaluation of banks’ financial performance, other factors outside the organization also determine the financial performance. The influence of age as an internal attribute of the firm cannot be over-emphasized. Age is a very important factor to be considered when predicting the financial performance of banks. The study recommends among others that since banks that are older in age and larger in size appear more profitable, investors should invest in the shares of banks that fall under this category in order to get value for money.