Özet:

This study examined the impact of debt equity ratio on the share price performance of manufacturing firms listed in Nigeria between 2010 and 2019. The study adoptedan ex-post facto research design. A sample size of fifteen (15) listed manufacturing firms was used while panel regression models estimated using fixed effect model and random effect model, while the result of the Hausman test was utilized to select the appropriate model between fixed effect model and random effect model.The findings of the study reveals that the total debt to equity ratio is negative and significant influence on performance of share price {Coef. = -0.009 P-value > 0.05}. Return on Assets is also seen to be positive and significantly influence the performance of share price of listed manufacturing firm in Nigeria {Coef = 2.428 P-value = 0.000}. However, Size of firm {Coef. = -0.019 P-value = 0.344} is seen to have negative but insignificant effect on the performance of share price. The study therefore recommended that firm manager should cautious while using debt finance. Firm manager should consider the consequences of debt finance before making capital structure decision. They are supported to identify the optimum debt level and ensure that they are no use excessive amount of debt in capital structure.

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