Effect of Corporate Asset Structure on Firm Performance in Nigeria

The study investigates the effects of asset structure on firnm perfornance ofNigerian pension fund administrations. Unlike previous studies that was done on banking sector; manufacturing sector and pharmaceutical sector. The present study examines how asset structure - management and its interactions withtangible assets, immediate liquidity, intangible asset and firm size has impacted on firm performance from 2010 to 2014. The study used a sample of 21 licensed pension fund administration in Nigeria. In analyzing the data, the study adopted panel multiple regression to identify the possible effects of their asset structure management on the firm performance of licensed pension fund administrators while we interpreted fixed effect analysis after using the Hausman test. Preliminary analyses also conducted such as descriptive statistics and correlation matrix. The result showed that asset structure had a significant and positive influence on pension fund administrators' firm performance. However, when interacted withimmediate liquidity, intangible asset and firm size, it was revealed that asset structure of pension fund administrators positively and significantly influencesfirm performance at 1% and 5% respectively. In the case of tangible asset interaction with firm performance, the study also shows negative and significantimpact on firm performance at 1%, meaning that administrators are utilizing its investment opportunities through the commission's investment guideline tomaximize its performance. Following from the result of the study,it was recommended that administrators should continue to utilize its investmentopportunities efficiently to increase performance while maintaining minimum risk with its assets.