A study of critical financial performance success factors in the industrial and allied sectors of the N.S.E

Abstract

The study set out to identify the critical financial performance success factors for the industrial and allied sector in the N.S.E. It entailed a census survey and a cross-sectional research design was used and the population of interest comprised all the seventeen players in the sector. Both primary and secondary data were collected. The data were analyzed by the use of descriptive statistics including mean and standard deviation using statistical package for social sciences (SPSS) version 12. The findings were presented in tables for discussion and interpretation. The findings revealed that the critical financial performance success factors for the industrial and allied sector included adequacy of cash flows, increased net sales over time, access to financial capital, earnings per share, quality of income, and assets turnover. The respondents exhibited a high level of knowledge of the critical financial performance success factors of their individual companies. The companies also need to endeavour to ensure that their competencies are centered on these critical financial performance success factors for them to remain relevant and successful in the market. The researcher had difficulties getting financial statements for all the years intended for the study and adequate responses from some of the targeted managers and employees as they cited tight work schedules and hence could not give in-depth interviews, while others totally refused to divulge any financial information of their companies which proved to be a limitation to the study.