This study was carried out to examine the major determinant of capital structure of quoted\ncomposite insurance companies in Nigeria. A descriptive and explanatory research designed\nwas adopted for this study and the secondary data extracted from the annual report of the\npurposeful composite insurance was analysed using panel data regression technique. The\nresults revealed that tangibility, growth and Liquidity had a negative impact on the Leverage\nwhile Risk, Return on Asset and Size have a positive influenced on Leverage; it was\ndiscovered from this study that all the variables identified are statistically significant except\nReturn on Asset and growth; the model was reliable and appropriate for determining capital\nstructure of composite insurance companies; It can be concluded that fixed effect panel\nregression model was better than the random effect model in determining the capital structure\nof composite insurance in Nigeria. Thus, the study recommended that management of\ninsurance industry and the regulatory authority in Nigeria should set up a more favourable\nfinancial structure to enhance the sustainability of the industry.
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